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DISCONTINUED OPERATIONS | 6 Months Ended
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Dec. 30, 2017
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | DISCONTINUED OPERATIONS In the fourth quarter of fiscal 2017, as a result of continued operating losses, the Company closed all of its stores and transferred its license to operate its online store and international operations to its equity method investment. The results of the Company's retail operations have been presented as discontinued operations in the accompanying consolidated statements of operations and comprehensive income (loss) for all periods presented and are as follows:
| Three Months Ended |  | Six Months Ended
| December 30, 2017 | December 31, 2016 |  | December 30, 2017 | December 31, 2016
| (in thousands) |  | (in thousands)
Net sales | $ | — |  | $ | 101,931 |  |  | $ | — |  | $ | 189,169 |
Cost of sales, including production and occupancy | — |  | (66,903 | ) |  | (10 | ) | (126,647 | )
Gross margin | — |  | 35,028 |  |  | (10 | ) | 62,522 |
Selling, general and administrative expenses | (320 | ) | (30,524 | ) |  | (1,886 | ) | (56,780 | )
Gain on sale of assets | — |  | — |  |  | 6,666 |  | — |
Income (loss) from discontinued operations, before income tax provision | (320 | ) | 4,504 |  |  | 4,770 |  | 5,742 |
Tax provision | 130 |  | (6 | ) |  | (18 | ) | (23 | )
Income (loss) from discontinued operations, net of tax provision | $ | (190 | ) | $ | 4,498 |  |  | $ | 4,752 |  | $ | 5,719 |
Costs associated with these exit activities are as follows:
| Lease Termination | Severance | Total
| (in thousands)
Balance as of July 1, 2017 | $ | 2,024 |  | $ | 1,772 |  | $ | 3,796 |
Costs incurred in fiscal 2018 | — |  | 1,143 |  | 1,143 |
Cash payments made | (654 | ) | (1,354 | ) | (2,008 | )
Balance as of December 30, 2017 | $ | 1,370 |  | $ | 1,561 |  | $ | 2,931 |
The Company anticipates completing lease termination payments by July 1, 2019 and severance payments before December 31, 2018. ASSETS OF DISCONTINUED OPERATIONS HELD FOR SALE Assets of discontinued operations held for sale consist of the following, which are stated at the lower of cost or market:
Description | December 30, 2017 |  | July 1, 2017 |
| (in thousands)
Distribution Center | $ | — |  | $ | 15,622 |
LA Studio | 8,613 |  | 8,613 |
Condominiums | — |  | 1,561 |
Total | $ | 8,613 |  | $ | 25,796 |
The Company sold its distribution center and condominiums for net proceeds totaling $23.7 million during the first quarter of fiscal 2018 and recorded a gain on sale totaling $6.7 million, which is included in income from discontinued operations, net of tax.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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