INCOME TAXES

9 Months Ended

Mar. 30, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

10.INCOME TAXES

The Company’s consolidated interim effective tax rate is based on a current estimate of the annual effective income tax rate adjusted to reflect the impact of discrete items. The differences between the Company’s effective tax rate and the statutory federal tax rate of 21.0% for the first nine months of fiscal 2025 primarily relate to changes in uncertain tax positions and inclusion of the state tax rate in the overall effective rate, partially offset by benefits of federal and state credits. During the three months ended March 30, 2025 and March 31, 2024, the Company’s effective tax rate was 21.6% and 22.5%, respectively, and for the nine months ended March 30, 2025 and March 31, 2024, the Company’s effective tax rate was 22.4% and 22.9%, respectively. The Company’s effective tax rates for the three and nine months ended March 30, 2025 are lower compared to the effective tax rate for the same prior year periods, primarily due to increased benefit of federal and state credits, partially offset by changes in uncertain tax positions.