v3.26.1
DERIVATIVES AND RISK MANAGEMENT (Tables)
 6 Months Ended
Jul. 04, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
As of July 4, 2026, the Company had the following outstanding non-designated forward contracts that were entered into to hedge future payments of inventory transactions and intercompany loan settlements (in millions):
Functional CurrencyContract Currency
TypeAmountTypeAmount
Euro17.5 U.S. dollar20.3 
Canadian dollar15.0 U.S. dollar11.0 
Mexican peso166.6 U.S. dollar9.4 
Schedule of Effective Portion of Gains and Losses on Derivative Instruments Recognized In Other Comprehensive Income (loss), Net of Taxes
The gains and losses on cash flow hedges that were recognized in other comprehensive income (loss), net of taxes are set forth below (in thousands):
For the 27 Weeks Ended July 5, 2025
Cash flow hedges:
Forward contracts$140 
Total gain (loss) recognized in other comprehensive income (loss), net of taxes$140 
Schedule of Effective Portion of Gains and Losses on Derivative Instruments Recognized In Other Comprehensive Income (loss), Net of Taxes Reclassified into Earnings and Derivatives Not Designated As Hedging Instruments Recorded Directly to Earnings
The following tables disclose the gains and losses on derivative instruments recorded in accumulated other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings (in thousands):
Derivative Instruments Condensed Consolidated
Statements of Income (Loss)
and Comprehensive
Income (Loss) Location		Effect of Derivative
Instruments		For the 13 Weeks Ended July 4, 2026For the 13 Weeks Ended July 5, 2025
Forward contracts not designated as hedging instrumentsOther income (expense)-netTotal gain (loss) recognized in income$(130)$1 

Derivative Instruments Condensed Consolidated
Statements of Income (Loss)
and Comprehensive
Income (Loss) Location		Effect of Derivative
Instruments		For the 26 Weeks Ended July 4, 2026For the 27 Weeks Ended July 5, 2025
Forward contracts designated as cash flow hedging instrumentsOther income (expense)-netTotal gain (loss) reclassified from accumulated other comprehensive income (loss)$— $614 
Forward contracts not designated as hedging instrumentsOther income (expense)-netTotal gain (loss) recognized in income$302 $19 
Schedule of Fair Value Amounts for Derivative Instruments As Separate Asset and Liability Values on a Gross Basis and their Location on Condensed Consolidated Balance Sheets
The following tables summarize the effects of the Company's derivative instruments on earnings (in thousands):
Effect of Derivative Instruments
For the 13 Weeks Ended July 4, 2026For the 13 Weeks Ended July 5, 2025
Cost of SalesOther Income (Expense)-netCost of SalesOther Income (Expense)-net
Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded$78,894 $(1,742)$93,659 $(38)
Gain (loss) on cash flow hedging relationships:
Forward contracts not designated as hedging instruments:
Total gain (loss) recognized in income$— $(130)$— $1 
Effect of Derivative Instruments
For the 26 Weeks Ended July 4, 2026For the 27 Weeks Ended July 5, 2025
Cost of SalesOther Income (Expense)-netCost of SalesOther Income (Expense)-net
Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded$168,951 $(586)$183,960 $(3,307)
Gain (loss) on cash flow hedging relationships:
Forward contracts designated as cash flow hedging instruments:
Total gain (loss) reclassified from other comprehensive income (loss)
$— $— $— $614 
Forward contracts not designated as hedging instruments:
Total gain (loss) recognized in income$— $302 $— $19