Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Nov. 29, 2016 |
Dec. 01, 2015 |
| Operating activities: |
|
|
| Net loss |
$ (77,648)
|
$ (19,993)
|
| Adjustments to reconcile net loss to net cash used by operating activities: |
|
|
| Depreciation and amortization |
21,717
|
25,742
|
| Deferred income taxes |
|
(1,449)
|
| Loss on impairments, including disposition of assets |
20,145
|
10,403
|
| Inventory write-off |
2,754
|
|
| Share-based compensation expense |
2,490
|
747
|
| Lease reserve adjustments |
17,578
|
4,325
|
| Deferred escalating minimum rent |
573
|
1,106
|
| Other, net |
1,127
|
2,669
|
| Changes in operating assets and liabilities: |
|
|
| Receivables |
683
|
(341)
|
| Inventories |
(2,195)
|
(5,371)
|
| Income taxes |
(2,210)
|
(3,139)
|
| Prepaid and other assets |
1,124
|
(153)
|
| Accounts payable, accrued and other liabilities |
(11,679)
|
(18,677)
|
| Net cash used by operating activities |
(25,541)
|
(4,131)
|
| Investing activities: |
|
|
| Purchases of property and equipment |
(16,790)
|
(20,288)
|
| Proceeds from sale of assets |
12,258
|
3,665
|
| Insurance proceeds from property claims |
358
|
|
| Reductions in Deferred Compensation Plan assets |
910
|
313
|
| Other, net |
1,070
|
|
| Net cash used by investing activities |
(2,194)
|
(16,310)
|
| Financing activities: |
|
|
| Principal payments on long-term debt and capital leases |
(998)
|
(9,601)
|
| Stock repurchases |
(26)
|
(9)
|
| Payments for debt issuance costs |
(17)
|
(29)
|
| Net cash used by financing activities |
(1,041)
|
(9,639)
|
| Decrease in cash and cash equivalents |
(28,776)
|
(30,080)
|
| Cash and cash equivalents: |
|
|
| Beginning of fiscal year |
67,341
|
75,331
|
| End of quarter |
38,565
|
45,251
|
| Supplemental disclosure of cash flow information: |
|
|
| Interest, net of amount capitalized |
8,758
|
10,181
|
| Income taxes, net |
705
|
3,062
|
| Significant non-cash investing and financing activities: |
|
|
| Retirement of fully depreciated assets |
18,107
|
13,467
|
| Reclassification of properties to assets held for sale |
$ 24,678
|
$ 5,507
|