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Recent Accounting Pronouncements (Tables)
 3 Months Ended
Jul. 28, 2018
Summary of Impact of Adoption of New Accounting Pronouncements on Company's Statement of Earnings and Balance Sheets

The below tables set forth the adjustments to the Company’s consolidated statement of earnings and consolidated balance sheet as a result of the newly adopted revenue recognition standard.

 

     13 Weeks Ended July 28, 2018  
(In thousands)    As
Reported		      Balances
Without
Adoption
of Topic 606		      Impact of
Adoption
Increase
(Decrease)		  

Sales

    $ 794,776        795,182        (406 ) 

Cost of sales

      566,704        566,704        —    
  

 

 

     

 

 

     

 

 

  

Gross profit

    $ 228,072        228,478        (406 ) 

 

     July 28, 2018  
(In thousands)    As
Reported		      Balances
Without
Adoption
of Topic 606		      Impact of
Adoption
Increase
(Decrease)		  

Assets

         

Prepaid expenses and other current assets

    $ 76,030        74,466        1,564  

Liabilities and Shareholders’ Equity

         

Accrued liabilities

    $ 256,588        255,024        1,564  

Gift card liabilities

    $ 223,950        314,097        (90,147 ) 

Deferred taxes

    $ 72,147        52,044        20,103  

Retained earnings

    $ (174,086 )       (244,130 )       70,044