Note 6 - Related Parties

9 Months Ended

Jan. 25, 2025

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

6. RELATED PARTIES

The Company is a party to a management agreement with Corporate Management Advisors, Inc. (CMA), a corporation owned by our Chairman and Chief Executive Officer. The management agreement provides that the Company will pay CMA an annual base fee equal to one percent of the consolidated net sales of the Company. Management fees to CMA were $2.7 million for each of the three months ended January 25, 2025 and January 27, 2024. Management fees to CMA were $8.9 million and $9.0 million for the nine months ended January 25, 2025 and January 27, 2024, respectively. At January 25, 2025 and April 27, 2024, current liabilities included amounts due to CMA of $1.6 million and $3.0 million, respectively.