Shareholders' Equity (Tables)

6 Months Ended

Nov. 02, 2024

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

Summary of Activity under 2021 Buyback Program

The following table summarizes activity under the 2021 Buyback Authorization:

	Three Months Ended				Six Months Ended
	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
(in millions, except share and per share data)	(14 Weeks)		(13 Weeks)		(27 Weeks)		(26 Weeks)
Shares purchased		—		322,779		136,000		322,779
Average price per share	$	—	$	24.03	$	11.55	$	24.03
Total cost	$	—	$	7.8	$	1.6	$	7.8

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

A summary of changes in AOCI, net of tax is shown below:

	Three Months Ended November 2, 2024 (14 Weeks)									Six Months Ended November 2, 2024 (27 Weeks)
(in millions)	Currency translation adjustments			Derivative instruments			Total			Currency translation adjustments			Derivative instruments			Total
Balance at beginning of period	$	(34.4	)	$	(1.9	)	$	(36.3	)	$	(36.5	)	$	(0.2	)	$	(36.7	)
Other comprehensive income (loss)		(0.4	)		(1.3	)		(1.7	)		0.7			(3.5	)		(2.8	)
Tax expense (benefit)		(0.1	)		0.4			0.3			0.9			0.9			1.8
Net other comprehensive income (loss)		(0.5	)		(0.9	)		(1.4	)		1.6			(2.6	)		(1.0	)
Balance at the end of period	$	(34.9	)	$	(2.8	)	$	(37.7	)	$	(34.9	)	$	(2.8	)	$	(37.7	)

	Three Months Ended October 28, 2023 (13 Weeks)									Six Months Ended October 28, 2023 (26 Weeks)
(in millions)	Currency translation adjustments			Derivative instruments			Total			Currency translation adjustments			Derivative instruments			Total
Balance at beginning of period	$	(22.3	)	$	(0.8	)	$	(23.1	)	$	(19.8	)	$	0.8		$	(19.0	)
Other comprehensive income (loss)		(17.6	)		0.7			(16.9	)		(20.3	)		(1.5	)		(21.8	)
Tax expense (benefit)		(2.6	)		(0.3	)		(2.9	)		(2.4	)		0.3			(2.1	)
Net other comprehensive income (loss)		(20.2	)		0.4			(19.8	)		(22.7	)		(1.2	)		(23.9	)
Balance at the end of period	$	(42.5	)	$	(0.4	)	$	(42.9	)	$	(42.5	)	$	(0.4	)	$	(42.9	)

Summary of RSA and RSU Activity

The following table summarizes RSA activity:

	Restricted stock awards			Weighted average grant date fair value
Non-vested at April 27, 2024		789,674		$	28.81
Awarded		—		$	—
Vested		—		$	—
Forfeited		(79,325	)	$	28.28
Non-vested at November 2, 2024		710,349		$	28.87

The following table summarizes RSU activity:

	Restricted stock units			Weighted average grant date fair value
Non-vested at April 27, 2024		941,640		$	26.43
Awarded		267,833		$	12.25
Conversion of cash bonus to RSUs		160,401		$	12.87
Vested		(395,412	)	$	28.30
Forfeited		(182,596	)	$	22.72
Non-vested at November 2, 2024		791,866		$	18.81

Summary of the Weighted-Average Assumptions for the PSUs Granted

The following table provides a summary of the weighted-average assumptions for the PSUs granted:

	Assumptions
Expected volatility		52.01	%
Risk free interest rate		4.07	%
Expected term (in years)		2.74
Grant date fair value	$	14.91

Summary of PSU Activity

The following table summarizes PSU activity:

	Performance stock units		Weighted average grant date fair value
Non-vested at April 27, 2024		—	$	—
Awarded		192,779	$	14.91
Vested		—	$	—
Forfeited		—	$	—
Non-vested at November 2, 2024		192,779	$	14.91

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 April 27, 2024		—			77,319			77,319		$	37.23
Awarded		56,680			86,786			143,466		$	9.92
Issued		(56,680	)		(23,756	)		(80,436	)	$	10.49
Outstanding at November 2, 2024		—			140,349			140,349		$	22.80

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 April 27, 2024		8,000		$	37.01		0.2	$	0.0
Exercised		—		$	—
Forfeited		(8,000	)	$	37.01
Outstanding and exercisable at November 2, 2024		—		$	—		0.0	$	0.0

Summary of Stock-based Compensation Expense Related to Equity Awards

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

	Three Months Ended				Six Months Ended
	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
(in millions)	(14 Weeks)		(13 Weeks)		(27 Weeks)		(26 Weeks)
RSUs	$	1.3	$	1.3	$	2.0	$	2.3
PSUs		0.2		—		0.2		—
Deferred non-employee director awards		—		—		0.9		1.0
Non-employee director awards		—		—		0.6		0.6
Total stock-based compensation expense	$	1.5	$	1.3	$	3.7	$	3.9