Shareholders' Equity

9 Months Ended

Jul. 01, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders' Equity

On June 6, 2016, the Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $150.0 million of its common stock beginning in fiscal 2017.  During the three months endedJuly 1, 2017, the Company repurchased 189,891 shares for approximately $10.0 million, at an average price of $52.40 per share. During the nine months ended July 1, 2017, the Company repurchased 457,702 shares for approximately $23.9 million at an average price of $52.12 per share.

On August 20, 2015, the Board of Directors approved a stock repurchase program under which the Company was authorized to repurchase up to $30.0 million of its common stock during fiscal 2016. During the three months endedJuly 2, 2016, the Company repurchased 170,355 shares for approximately $7.2 million, at an average price of $42.13 per share. During the nine months ended July 2, 2016, the Company repurchased 606,236 shares for approximately $22.9 million at an average price of $37.80 per share. The Company completed this stock repurchase program by the end of fiscal 2016.

All shares repurchased under the aforementioned programs were recorded as treasury stock.