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Quarterly Results (unaudited)
 12 Months Ended
Apr. 28, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results (unaudited)
Quarterly Results (unaudited)
Quarterly results are determined in accordance with the accounting policies used for annual data and include certain items based upon estimates for the entire year. All fiscal quarters include results for 13 weeks.

 
Quarter Ended
 
April 28,
2018
 
January 27,
2018 (1)
 
October 28,
2017
 
July 29,
2017
Net sales
$
1,400,609

 
$
1,375,222

 
$
1,385,737

 
$
1,304,115

Gross profit
289,839

 
294,736

 
315,743

 
299,048

Operating income from continuing operations
41,251

 
50,046

 
71,759

 
56,833

Net income from continuing operations
20,928

 
108,955

 
40,244

 
30,847

Net income (loss) from discontinued operations
—

 
—

 
—

 
—

Net income
$
20,928

 
$
108,955

 
$
40,244

 
$
30,847

Basic earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.23

 
$
1.18

 
$
0.43

 
$
0.33

Discontinued operations
—

 
—

 
—

 
—

Net basic earnings per share
$
0.23

 
$
1.18

 
$
0.43

 
$
0.33

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.23

 
$
1.18

 
$
0.43

 
$
0.33

Discontinued operations
—

 
—

 
—

 
—

Net diluted earnings per share
$
0.23

 
$
1.18

 
$
0.43

 
$
0.33

 
Quarter Ended
 
April 29,
2017
 
January 28,
2017 (2)
 
October 29,
2016
 
July 30,
2016
Net sales
$
1,445,032

 
$
1,397,418

 
$
1,418,241

 
$
1,332,436

Gross profit
335,498

 
329,761

 
318,960

 
317,178

Operating income from continuing operations
96,155

 
46,554

 
79,803

 
65,416

Net income from continuing operations
61,357

 
27,769

 
45,756

 
38,906

Net income (loss) from discontinued operations
334

 
(3,229
)
 
—

 
—

Net income
$
61,691

 
$
24,540

 
$
45,756

 
$
38,906

Basic earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.65

 
$
0.29

 
$
0.48

 
$
0.41

Discontinued operations
0.01

 
(0.03
)
 
—

 
—

Net basic earnings per share
$
0.66

 
$
0.26

 
$
0.48

 
$
0.41

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.65

 
$
0.29

 
$
0.48

 
$
0.40

Discontinued operations
—

 
(0.03
)
 
—

 
—

Net diluted earnings per share
$
0.65

 
$
0.26

 
$
0.48

 
$
0.40

(1)
In the third quarter of fiscal 2018, the Tax Act was enacted by the U.S. government. During this quarter, we recorded a provisional discrete net tax benefit of $77,256 within net income from continuing operations. See Note 11 to the Consolidated Financial Statements for additional information.
(2)
In the third quarter of fiscal 2017, we recorded a pre-tax non-cash impairment charge of $36,312 within operating income from continuing operations. See Note 3 to the Consolidated Financial Statements for additional information.