Restructuring expenses

12 Months Ended

Jun. 28, 2025

Restructuring expenses

Restructuring expenses

17. Restructuring expenses

Fiscal 2025

During fiscal 2025, the Company incurred restructuring expenses primarily related to headcount reductions including from the planned closure of certain distribution centers intended to reduce future selling, general and administrative expenses. The following table presents the activity incurred during fiscal 2025:

			Facility		Asset
	Severance		Exit Costs		Impairments		Other		Total
	(Thousands)
Fiscal 2025 restructuring expenses	$	32,167	$	5,582	$	14,904	$	3,453	$	56,106
Cash payments		(11,515)		(5,318)		—		(409)		(17,242)
Non-cash amounts		(1,463)		(11)		(14,904)		(3,044)		(19,422)
Other, principally foreign currency translation		(4)		—		—		—		(4)
Balance at June 28, 2025	$	19,185	$	253	$	—	$	—	$	19,438

Severance expense recorded in fiscal 2025 related to the reduction, or planned reduction, of over 400 employees, primarily in operations, distribution centers, and business support functions. Of the $56.1 million in restructuring expenses recorded in fiscal 2025, $26.8 million related to EC, $29.1 million related to Farnell, and $0.2 million related to Corporate. The Company expects most of the remaining severance amounts to be paid by the end of December 2025.

Fiscal 2024

During fiscal 2024, the Company incurred restructuring expenses primarily related headcount reductions from the planned closure of certain distribution centers intended to reduce future operating expenses. The Company expects the majority of the remaining amounts to be paid by the end of 2025. The following table presents the activity during fiscal 2025 related to the remaining restructuring liabilities established during fiscal 2024:

	Severance
	(Thousands)
Balance at June 29, 2024	$	23,838
Cash payments		(15,737)
Changes in estimates, net		(6,044)
Other, principally foreign currency translation		117
Balance at June 28, 2025	$	2,174