Shareholders' Equity (Tables)

12 Months Ended

Apr. 29, 2023

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Buyback Activity Under Share Buyback Program

The following table summarizes the Company’s stock buyback activity under this share buyback program:

	Fiscal Year Ended
	April 29, 2023		April 30, 2022
Shares purchased		1,197,236		1,425,190
Average price per share	$	40.14	$	44.73
Total cost (in millions)	$	48.1	$	63.7

Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax

A summary of changes in accumulated other comprehensive income (loss), net of tax is shown below:

(in millions)	Currency translation adjustments			Derivative instruments			Total
Balance as of May 2, 2020	$	(25.9	)	$	(1.0	)	$	(26.9	)
Other comprehensive income (loss)		38.6			(5.7	)		32.9
Tax benefit (expense)		(1.2	)		1.3			0.1
Net current period other comprehensive income (loss)		37.4			(4.4	)		33.0
Balance as of May 1, 2021		11.5			(5.4	)		6.1
Other comprehensive income (loss)		(42.4	)		11.9			(30.5	)
Tax benefit (expense)		0.4			(2.8	)		(2.4	)
Net current period other comprehensive income (loss)		(42.0	)		9.1			(32.9	)
Balance as of April 30, 2022		(30.5	)		3.7			(26.8	)
Other comprehensive income (loss) before reclassifications		12.9			(3.8	)		9.1
Amounts reclassified from accumulated other comprehensive income (loss)		(2.1	)		—			(2.1	)
Tax (expense) benefit		(0.1	)		0.9			0.8
Net current period other comprehensive income (loss)		10.7			(2.9	)		7.8
Balance as of April 29, 2023	$	(19.8	)	$	0.8		$	(19.0	)

Summary of Stock-based Compensation Expense Related to Equity Awards

The table below summarizes the stock-based compensation expense related to the equity awards:

	Fiscal Year Ended
(in millions)	April 29, 2023		April 30, 2022		May 1, 2021
RSUs	$	9.9	$	10.3	$	5.9
Deferred non-employee director awards		1.0		0.8		—
Non-employee director awards		0.6		0.7		0.9
Total stock-based compensation expense	$	11.5	$	11.8	$	6.8

Summary of RSA and RSU Activity

The following table summarizes the RSA activity:

	Restricted stock awards			Weighted average grant date fair value
Non-vested at May 2, 2020		—		$	—
Awarded		928,412		$	28.50
Vested		—		$	—
Forfeited		—		$	—
Non-vested at May 1, 2021		928,412		$	28.50
Awarded		—		$	—
Vested		—		$	—
Forfeited		—		$	—
Non-vested at April 30, 2022		928,412		$	28.50
Awarded		21,262		$	38.41
Vested		—		$	—
Forfeited		(16,000	)	$	28.28
Non-vested at April 29, 2023		933,674		$	28.73

The following table summarizes RSU activity:

	Restricted stock units			Weighted average grant date fair value
Non-vested at May 2, 2020		3,100		$	41.20
Awarded		949,712		$	28.49
Vested		(25,201	)	$	29.87
Forfeited		—		$	—
Non-vested at May 1, 2021		927,611		$	28.50
Awarded		46,300		$	48.41
Vested		(37,520	)	$	36.55
Forfeited		—		$	—
Non-vested at April 30, 2022		936,391		$	29.16
Awarded		127,277		$	40.11
Vested		(307,333	)	$	29.88
Forfeited		(28,868	)	$	33.53
Non-vested at April 29, 2023		727,467		$	30.60

Summary of Awards Granted to Non-employee Directors

The following table summarizes awards granted to non-employee directors:

	Non-employee director awards			Deferred non-employee director awards		Total			Weighted average grant date fair value
Outstanding at May 2, 2020		—			—		—		$	—
Awarded		33,000			—		33,000		$	28.76
Issued		(33,000	)		—		(33,000	)	$	28.76
Outstanding at May 1, 2021		—			—		—		$	—
Awarded		14,775			17,956		32,731		$	47.37
Issued		(14,775	)		—		(14,775	)	$	47.39
Outstanding at April 30, 2022		—			17,956		17,956		$	47.35
Awarded		15,540			27,794		43,334		$	36.13
Issued		(15,540	)		—		(15,540	)	$	36.04
Outstanding at April 29, 2023		—			45,750		45,750		$	40.56

Summary of combined stock option activity and related information for stock options granted

The following table summarizes stock option activity:

	Stock options			Weighted average exercise price		Weighted- average life (years)		Aggregate intrinsic value (in millions)
Outstanding and exercisable at May 2, 2020		106,668		$	35.76		4.0	$	0.1
Exercised		(24,500	)	$	31.61
Forfeited		(9,168	)	$	37.01
Outstanding and exercisable at May 1, 2021		73,000		$	37.01		3.2	$	0.6
Exercised		(13,000	)	$	37.01
Forfeited		—		$	—
Outstanding and exercisable at April 30, 2022		60,000		$	37.01		2.2	$	0.5
Exercised		(40,000	)	$	37.01
Forfeited		—		$	—
Outstanding and exercisable at April 29, 2023		20,000		$	37.01		1.2	$	0.1