Quarterly report [Sections 13 or 15(d)]

ASSETS HELD-FOR-SALE AND DISCONTINUED OPERATIONS (Tables)

v3.26.1
ASSETS HELD-FOR-SALE AND DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jul. 04, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations Presented in Financial Statements
The following table summarizes the major line items for the Lee® business that are included in income from discontinued operations, net of tax, in the Company's statements of operations:
Three Months Ended June Six Months Ended June
(In thousands)
2026 2025 2026 2025
Net revenues $ 159,168  $ 165,627  $ 353,456  $ 365,527 
Cost of goods sold 76,628  89,971  168,103  186,969 
Selling, general and administrative expenses 71,636  54,067  134,490  115,039 
Interest income 66  77  163  198 
Other (expense) income, net (938) (785) (1,205) (1,492)
Income from discontinued operations before income taxes $ 10,032  $ 20,881  $ 49,821  $ 62,225 
Income taxes (2,251) (5,708) (10,639) (14,419)
Income from discontinued operations, net of tax $ 7,781  $ 15,173  $ 39,182  $ 47,806 
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations as of June 2026, December 2025 and June 2025:
(In thousands) June 2026 December 2025 June 2025
Cash and cash equivalents $ 22,360  $ 31,227  $ 21,568 
Accounts receivable, net 53,751  67,005  67,231 
Inventories 129,899  130,737  142,385 
Prepaid expenses and other current assets 22,313  27,512  24,572 
Total current assets of discontinued operations 228,323  256,481  255,756 
Property, plant and equipment, net 16,622  17,443  17,188 
Operating lease assets 30,541  31,249  33,647 
Intangible assets, net 4,711  4,833  4,840 
Goodwill 79,691  80,131  80,463 
Other assets 30,652  35,401  38,635 
Total other assets of discontinued operations 162,217  169,057  174,773 
Total assets of discontinued operations $ 390,540  $ 425,538  $ 430,529 
Accounts payable $ 51,459  $ 49,554  $ 48,727 
Accrued and other current liabilities 51,885  68,236  56,108 
Operating lease liabilities, current 10,212  11,245  11,361 
Total current liabilities of discontinued operations 113,556  129,035  116,196 
Operating lease liabilities, noncurrent 17,712  21,455  23,693 
Other liabilities 9,314  8,291  10,978 
Total other liabilities of discontinued operations 27,026  29,746  34,671 
Total liabilities of discontinued operations $ 140,582  $ 158,781  $ 150,867