Stock-based compensation (Tables)

12 Months Ended

Jul. 03, 2021

Stock-based compensation

Summary of the assumptions used to estimate the fair value of stock options

	Years Ended
	July 3,		June 27,		June 29,
	2021		2020		2019
Expected term (years)	6.0		6.0		6.0
Risk-free interest rate	0.5	%	1.6	%	2.8	%
Weighted average volatility	31.5	%	23.7	%	23.1	%
Dividend yield	2.8	%	2.3	%	1.8	%

Summary of the changes in outstanding options

		Weighted		Weighted Average
		Average		Remaining
	Shares	Exercise Price		Contractual Life
Outstanding at June 27, 2020	1,537,669	$	40.94	75 Months
Granted	407,448		29.63	113 Months
Exercised	(145,668)		33.73	23 Months
Forfeited or expired	(674,018)		42.00	80 Months
Outstanding at July 3, 2021	1,125,431	$	37.15	78 Months
Exercisable at July 3, 2021	476,322	$	41.14	47 Months

Summary of the changes in non-vested stock options

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested stock options at June 27, 2020	781,099	$	8.73
Granted	407,448		6.37
Vested	(168,660)		8.91
Forfeited	(370,778)		8.80
Non-vested stock options at July 3, 2021	649,109	$	7.17

Summary of the changes in non-vested restricted incentive shares

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested restricted stock units at June 27, 2020	1,015,822	$	40.06
Granted	1,268,292		28.93
Vested	(733,745)		35.20
Forfeited	(212,334)		36.10
Non-vested restricted stock units at July 3, 2021	1,338,035	$	32.80