v3.26.1
Restructuring and Other Expense
3 Months Ended
Jun. 27, 2026
Restructuring and Related Activities [Abstract]  
Restructuring and Other Expense Restructuring and Other Expense
During the three months ended June 27, 2026, the Company recorded $3 million, primarily related to employee severance due to restructuring activities completed during the quarter.
As announced during the fourth quarter of Fiscal 2024, the Board of Directors of the Company approved a Global Optimization Plan in order to streamline the Company’s operating model, maximize efficiency and support long-term profitable growth.
During the three months ended June 28, 2025, the Company closed 15 of its retail stores which have been incorporated into the Global Optimization Plan. Net restructuring charges recorded in connection with the Global Optimization Plan during the three months ended June 28, 2025 were $1 million, primarily related to severance and store closure costs, partially offset by gains on lease terminations. The Global Optimization Plan concluded in Fiscal 2026.