National Beverage (FIZZ) 10-K 30 Jun 21 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	May 01, 2021	Jun. 29, 2021	Oct. 26, 2018
Document Information [Line Items]
Entity Central Index Key	0000069891
Entity Registrant Name	National Beverage Corp.
Amendment Flag	false
Current Fiscal Year End Date	--05-01
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	May 1, 2021
Document Transition Report	false
Entity File Number	1-14170
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	59-2605822
Entity Address, Address Line One	8100 SW Tenth Street, Suite 4000
Entity Address, City or Town	Fort Lauderdale
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33324
City Area Code	954
Local Phone Number	581-0922
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	FIZZ
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 912,000,000
Entity Common Stock, Shares Outstanding		93,307,746
ICFR Auditor Attestation Flag	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	May 01, 2021	May 02, 2020
Assets
Cash and equivalents	$ 193,589	$ 304,518
Trade receivables - net	86,442	84,921
Inventory	71,480	63,482
Prepaid and other assets	13,431	7,791
Total current assets	364,942	460,712
Property, plant and equipment - net	131,027	120,627
Right of use assets- net	41,676	47,884
Goodwill	13,145	13,145
Intangible assets	1,615	1,615
Other assets	4,832	4,663
Total assets	557,237	648,646
Liabilities and Shareholders' Equity
Accounts payable	88,754	74,369
Accrued liabilities	43,551	42,476
Short-term lease obligations	14,800	16,980
Income taxes payable	89	7,863
Total current liabilities	147,194	141,688
Deferred income taxes net	17,294	14,823
Operating lease liability - non current	28,837	32,159
Other liabilities	7,915	7,639
Total liabilities	201,240	196,309
Commitments and contingencies
Shareholders' equity:
Preferred stock, $1 par value - 1,000,000 shares authorized Series C - 150,000 shares issued	150	150
Common stock, $.01 par value - 200,000,000 shares authorized; 101,675,858 and 101,606,368 shares issued, respectively	1,016	1,016
Additional paid-in capital	38,375	37,422
Retained earnings	337,672	443,402
Accumulated other comprehensive income (loss)	3,017	(5,420)
Total shareholders' equity	355,997	452,337
Total liabilities and shareholders' equity	557,237	648,646
Treasury Stock, Common [Member]
Shareholders' equity:
Treasury stock, value	(19,133)	(19,133)
Total shareholders' equity	(19,133)	(19,133)
Series C Preferred Stock [Member] | Treasury Stock, Preferred [Member]
Shareholders' equity:
Treasury stock, value	(5,100)	(5,100)
Total shareholders' equity	$ (5,100)	$ (5,100)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	May 01, 2021	May 02, 2020
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	150,000	150,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	101,675,858	101,606,368
Treasury Stock, Common [Member]
Treasury stock, shares (in shares)	8,374,112	8,374,112
Series C Preferred Stock [Member] | Treasury Stock, Preferred [Member]
Treasury stock, shares (in shares)	150,000	150,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Net sales	$ 1,072,210	$ 1,000,394	$ 1,014,105
Cost of sales	650,594	630,254	629,755
Gross profit	421,616	370,140	384,350
Selling, general and administrative expenses	193,791	204,394	204,415
Operating income	227,825	165,746	179,935
Other income - net	312	3,709	3,942
Income before income taxes	228,137	169,455	183,877
Provision for income taxes	53,991	39,483	43,024
Net income	$ 174,146	$ 129,972	$ 140,853
Earnings per common share:
Basic (in dollars per share)	$ 1.87	$ 1.39	$ 1.51
Diluted (in dollars per share)	$ 1.86	$ 1.39	$ 1.50
Weighted average common shares outstanding:
Basic (in shares)	93,280	93,256	93,266
Diluted (in shares)	93,620	93,656	93,834

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Net income	$ 174,146	$ 129,972	$ 140,853
Cash flow hedges	7,930	(3,673)	(6,318)
Other	507	(204)	174
Total	8,437	(3,877)	(6,144)
Comprehensive income	$ 182,583	$ 126,095	$ 134,709

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock [Member]Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Preferred [Member]Series C Preferred Stock [Member]	Treasury Stock, Common [Member]
Balance (in shares) at Apr. 28, 2018			101,302,000					8,065,000
Balance at Apr. 28, 2018			$ 1,014	$ 35,850	$ 307,824	$ 4,601		$ (12,900)
Stock options exercised (in shares)			54,000
Balance (in shares) at Apr. 27, 2019		150,000	101,356,000				150,000	8,065,000
Balance at Apr. 27, 2019	$ 331,609	$ 150	$ 1,014	36,557	313,430	(1,543)	$ (5,100)	$ (12,900)
Stock options exercised				456
Stock-based compensation				251
End of year				36,557
Net income	140,853				140,853
Common stock cash dividend					(135,247)
Cash flow hedges	(6,318)					(6,318)
Other	174					174
Repurchase of common stock (in shares)								0
Repurchase of common stock								$ 0
Stock options exercised (in shares)			250,000
Balance (in shares) at May. 02, 2020		150,000	101,606,000				150,000	8,374,000
Balance at May. 02, 2020	452,337	$ 150	$ 1,016	37,422	443,402	(5,420)	$ (5,100)	$ (19,133)
Stock options exercised				740
Stock-based compensation				125
End of year				37,422
Net income	129,972				129,972
Common stock cash dividend					0
Cash flow hedges	(3,673)					(3,673)
Other	$ (204)					(204)
Repurchase of common stock (in shares)	154,512							309,000
Repurchase of common stock	$ (6,200)							$ (6,233)
Stock options exercised (in shares)	69,490		70,000
Balance (in shares) at May. 01, 2021		150,000	101,676,000				150,000	8,374,000
Balance at May. 01, 2021	$ 355,997	$ 150	$ 1,016		337,672	3,017	$ (5,100)	$ (19,133)
Stock options exercised				491
Stock-based compensation				462
End of year				$ 38,375
Net income	174,146				174,146
Common stock cash dividend					$ (279,876)
Cash flow hedges	7,930					7,930
Other	$ 507					$ 507
Repurchase of common stock (in shares)								0
Repurchase of common stock								$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Operating Activities:
Net income	$ 174,146,000	$ 129,972,000	$ 140,853,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,097,000	17,234,000	15,439,000
Deferred income tax provision	(132,000)	11,000	3,351,000
Loss on disposal of property, net	114,000	206,000	12,000
Stock-based compensation	462,000	125,000	251,000
Amortization of operating right to use assets	13,060,000	13,351,000	0
Changes in assets and liabilities:
Trade receivables	(1,521,000)	(80,000)	(481,000)
Inventories	(7,998,000)	7,220,000	(9,782,000)
Operating lease right of use assets	(11,092,000)	(5,368,000)	0
Prepaid and other assets	35,000	(5,633,000)	(2,806,000)
Accounts payable	14,385,000	8,168,000	(8,651,000)
Accrued and other liabilities	(4,524,000)	19,215,000	1,256,000
Operating lease liabilities	(1,262,000)	(6,729,000)	0
Net cash provided by operating activities	193,770,000	177,692,000	139,442,000
Investing Activities:
Additions to property, plant and equipment	(25,308,000)	(23,890,000)	(38,333,000)
Proceeds from sale of property, plant and equipment	(6,000)	9,000	18,000
Net cash used in investing activities	(25,314,000)	(23,881,000)	(38,315,000)
Financing Activities:
Dividends paid on common stock	(279,876,000)	0	(135,247,000)
Proceeds from stock options exercised	491,000	740,000	456,000
Repurchase of common stock	0	(6,233,000)
Net cash used in financing activities	(279,385,000)	(5,493,000)	(134,791,000)
Net Increase (decrease) in Cash and Equivalents	(110,929,000)	148,318,000	(33,664,000)
Cash and Equivalents - Beginning of Year	304,518,000	156,200,000	189,864,000
Cash and Equivalents - End of Year	193,589,000	304,518,000	156,200,000
Other Cash Flow Information:
Interest paid	148,000	51,000	51,000
Income taxes paid	$ 63,357,000	$ 29,364,000	$ 36,833,000

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) and rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of National Beverage Corp. and all subsidiaries. All significant intercompany transactions and accounts have been eliminated. Our fiscal year ends the Saturday closest to April 30 five six May 1, 2021 ( 2021 April 27, 2019 ( 2019 52 May 2, 2020 ( 2020 53 Reclassification On February 5, 2021, one one February 19, 2021 February 16, 2021. Certain reclassifications have been made to prior period balances in order to conform to the current period's presentation. Cash and Equivalents Cash and equivalents are comprised of cash and highly liquid securities (consisting primarily of bank deposits and short-term government money-market investments). Derivative Financial Instruments Derivative financial instruments are used to partially mitigate our exposure to changes in certain raw material costs. All derivative financial instruments are recorded at fair value in our consolidated balance sheets. Derivative financial instruments are not Earnings Per Common Share Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options amounting to 340,000 shares in Fiscal 2021, 2020, 2019. Fair Value of Financial Instruments The estimated fair values of derivative financial instruments are calculated based on market rates to settle the instruments. These values represent the estimated amounts we would receive upon sale, taking into consideration current market prices and credit worthiness. Impairment of Long-Lived Assets All long-lived assets, excluding goodwill and intangible assets not may not not may Income Taxes The Company’s effective income tax rate is based on estimates of taxes which will ultimately be payable. Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed, more likely than not, not Insurance Programs The Company maintains self-insured and deductible programs for certain liability, medical and workers’ compensation exposures. Accordingly, the Company accrues for known claims and estimated incurred but not not May 1, 2021, May 2, 2020, Intangible Assets Intangible Assets as of May 1, 2021 May 2, 2020 Inventories Inventories are stated at the lower of first first May 1, 2021 May 2, 2020 Marketing Costs The Company utilizes a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote our products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs, which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, totaled $43.4 million in Fiscal 2021, 2020 2019. Property, Plant and Equipment Property, plant and equipment is recorded at cost. Additions, replacements and betterments are capitalized, while maintenance and repairs that do not 5 30 3 15 Revenue Recognition Revenue is recognized upon delivery to our customers, based on written sales terms that do not may 30 may Various sales incentive arrangements are offered to our customers that require customer performance or achievement of certain sales volume targets. Sales incentives are accrued over the period of benefit or expected sales. When the incentive is paid in advance, the aggregate incentive is recorded as a prepaid and amortized over the period of benefit. The recognition of these incentives involves the use of judgment related to performance and sales volume estimates that are made based on historical experience and other factors. Sales incentives are accounted for as a reduction of sales and actual amounts ultimately realized may not Segment Reporting The Company operates as a single operating segment for purposes of presenting financial information and evaluating performance. As such, the accompanying consolidated financial statements present financial information in a format that is consistent with the internal financial information used by management. The Company does not Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying consolidated statements of income. Such costs aggregated $75.5 million in Fiscal 2021, 2020 2019. may not Trade Receivables Trade receivables are recorded at net realizable value, which includes an estimated allowance for doubtful accounts. The Company extends credit based on an evaluation of each customer’s financial condition, generally without requiring collateral. Exposure to credit losses varies by customer principally due to the financial condition of each customer. The Company continually monitors our exposure to credit losses and maintains allowances for anticipated losses based on our experience with past due accounts, collectability and our analysis of customer data. Actual future losses from uncollectible accounts could differ from the Company’s estimate. Changes in the allowance for doubtful accounts was as follows: (In thousands) Fiscal 2021 Fiscal 2020 Fiscal 2019 Balance at beginning of year $ 1,350 $ 516 $ 452 Net charge (credit) to expense (138 ) 893 87 Net charge-off (72 ) (59 ) (23 ) Balance at end of year $ 1,140 $ 1,350 $ 516 As of May 1, 2021 May 2, 2020, 10% 10% three Use of Estimates The preparation of our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and anticipated future actions, actual results may

Note 2 - Property, Plant and Eq

Note 2 - Property, Plant and Equipment	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	2. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of May 1, 2021 May 2, 2020 (In thousands) 2021 2020 Land $ 9,835 $ 9,835 Buildings and improvements 62,346 59,618 Machinery and equipment 257,119 238,300 Total 329,300 307,753 Less accumulated depreciation (198,273 ) (187,126 ) Property, plant and equipment – net $ 131,027 $ 120,627 Depreciation expense was $14.8 million for Fiscal 2021, 2020 2019.

Note 3 - Accrued Liabilities

Note 3 - Accrued Liabilities	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	3. ACCRUED LIABILITIES Accrued liabilities as of May 1, 2021 May 2, 2020 (In thousands) 2021 2020 Accrued compensation $ 11,826 $ 11,348 Accrued promotions 13,361 9,061 Accrued freight 3,653 3,443 Accrued insurance 2,519 2,934 Recycling deposits 7,522 5,688 Other 4,670 10,002 Total $ 43,551 $ 42,476

Note 4 - Leases

Note 4 - Leases	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	4. LEASES The Company has entered into various non-cancelable operating lease agreements for certain of our offices, buildings, machinery and equipment expiring at various dates through January 2029. not not 2021 $13.1 May 1, 2021. May 1, 2021. The following is a summary of future minimum lease payments and related liabilities for all non-cancelable operating leases as of May 1, 2021: (In thousands) Fiscal 2022 $ 15,729 Fiscal 2023 10,290 Fiscal 2024 7,996 Fiscal 2025 5,108 Fiscal 2026 3,180 Thereafter 4,311 Total minimum lease payments including interest 46,614 Less: Amounts representing interest (2,977 ) Present value of minimum lease payments 43,637 Less: Current portion of lease liabilities (14,800 ) Non-Current portion of operating lease liabilities $ 28,837

Note 5 - Debt

Note 5 - Debt	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	5. DEBT At May 1, 2021, October 3, 2020 June 18, 2021 one May 1, 2021 May 2, 2020. May 1, 2021, The Credit Facilities require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the Credit Facilities), and contain other restrictions, none May 1, 2021,

Note 6 - Capital Stock and Tran

Note 6 - Capital Stock and Transactions With Related Parties	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. CAPITAL STOCK AND TRANSACTIONS WITH RELATED PARTIES The Board of Directors has authorized the Company to repurchase up to 3.2 million shares of common stock. During Fiscal 2020, May 2, 2020, The Company paid a special cash dividend on Common Stock of $279.9 million on January 29, 2021 ( $3.00 January 29, 2019, $.75 August 4, 2017 January 27, 2017. The Company is a party to a management agreement with Corporate Management Advisors, Inc. (CMA), a corporation owned by our Chairman and Chief Executive Officer. This agreement was originated in 1991 two 1994, one no Under the terms of the agreement, CMA provides, subject to the direction and supervision of the Board of Directors of the Company, (i) senior corporate functions (including supervision of the Company’s financial, legal, executive recruitment, internal audit and information systems departments) as well as the services of a Chief Executive Officer and Chief Financial Officer, and (ii) services in connection with acquisitions, dispositions and financings by the Company, including identifying and profiling acquisition candidates, negotiating and structuring potential transactions and arranging financing for any such transaction. CMA, through its personnel, also provides, to the extent possible, the stimulus and creativity to develop an innovative and dynamic persona for the Company, its products and corporate image. In order to fulfill its obligations under the management agreement, CMA employs numerous individuals, who, acting as a unit, provide management, administrative and creative functions for the Company. CMA and the Company are joint owners of a corporate aircraft and pursuant to a joint ownership agreement, each party agreed to pay certain expenses associated with the use of the aircraft. During the past three 2015 2020, May 1, 2021. The management agreement provides that the Company will pay CMA an annual base fee equal to one may no 2021, 2020, 2019. May 1, 2021, $1.2 May 2, 2020.

Note 7 - Derivative Financial I

Note 7 - Derivative Financial Instruments	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. DERIVATIVE FINANCIAL INSTRUMENTS From time to time, the Company enters into aluminum swap contracts to partially mitigate our exposure to changes in the cost of aluminum cans. Such financial instruments are designated and accounted for as cash flow hedges. Accordingly, gains or losses attributable to the effective portion of the cash flow hedges are reported in accumulated other comprehensive income (loss) (AOCI) and reclassified into cost of sales in the period in which the hedged transaction affects earnings. The ineffective portion of the change in fair value of our cash flow hedge was immaterial. The following summarizes the gains (losses) recognized in the consolidated statements of income and AOCI for Fiscal 2021, 2020 2019: (In thousands) Fiscal Fiscal Fiscal 2021 2020 2019 Recognized in AOCI- Gain (loss) before income taxes $ 12,973 $ (9,613 ) $ (6,138 ) Less income tax provision (benefit) 3,103 (2,299 ) (1,468 ) Net 9,870 (7,314 ) (4,670 ) Reclassified from AOCI to cost of sales- Gain (loss) before income taxes 2,550 (4,786 ) 2,100 Less income tax provision (benefit) 610 (1,145 ) 452 Net 1,940 (3,641 ) 1,648 Net change to AOCI $ 7,930 $ (3,673 ) $ (6,318 ) As of May 1, 2021, no 12 As of May 1, 2021, May 2, 2020, not 2

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. INCOME TAXES The provision for income taxes consisted of the following: (In thousands) Fiscal Fiscal Fiscal 2021 2020 2019 Current $ 51,520 $ 40,647 $ 39,673 Deferred 2,471 (1,164 ) 3,351 Total $ 53,991 $ 39,483 $ 43,024 Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed more likely than not not May 1, 2021 May 2, 2020 (In thousands) 2021 2020 Deferred tax assets: Accrued expenses and other $ 3,347 $ 4,930 Inventory and amortizable assets 544 565 Total deferred tax assets 3,891 5,495 Deferred tax liabilities: Property 18,814 18,872 Intangibles and other 2,371 1,446 Total deferred tax liabilities 21,185 20,318 Net deferred tax liabilities $ 17,294 $ 14,823 The reconciliation of the statutory federal income tax rate to our effective tax rate is as follows: Fiscal Fiscal Fiscal 2021 2020 2019 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 2.9 2.9 2.9 Domestic manufacturing deduction benefit - - - Re-measurement of deferred taxes - - - Other differences (.2 ) (.6 ) (.5 ) Effective income tax rate 23.7 % 23.3 % 23.4 % As of May 1, 2021, $2.0 2021. (In thousands) Fiscal Fiscal Fiscal 2021 2020 2019 Beginning balance $ 1,974 $ 1,868 $ 1,733 Increases due to current period tax positions 150 120 139 Decreases due to lapse of statute of limitations and audit resolutions (69 ) (14 ) (4 ) Ending balance $ 2,055 $ 1,974 $ 1,868 Accrued interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense. As of May 1, 2021, 2021. Annual income tax returns are filed in the United States and in various state and local jurisdictions. A number of years may 2016 2014.

Note 9 - Legal Proceedings

Note 9 - Legal Proceedings	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	9. LEGAL PROCEEDINGS The Company has been named in certain legal proceedings, including those containing derivative and class action allegations. The Company is vigorously defending all legal proceedings and believes litigation will not

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. STOCK-BASED COMPENSATION Our stock-based compensation program is a broad-based program designed to attract and retain personnel while also aligning participants’ interests with the interests of the shareholders. The 1991 may may no may five ten The Special Stock Option Plan provides for the issuance of stock options to purchase up to an aggregate of 3,600,000 shares of common stock. Options may The Key Employee Equity Partnership Program (KEEP Program) provides for the granting of stock options to purchase up to 480,000 shares of common stock to key employees, consultants, directors and officers. Participants who purchase shares of stock in the open market receive grants of stock options equal to 50% of the number of shares purchased, up to a maximum of 12,000 shares in any two six Stock options are accounted for under the fair value method of accounting using a Black-Scholes valuation model to estimate the stock option fair value at date of grant. The fair value of stock options is amortized to expense over the vesting period. Stock options for 266,500 shares were granted in Fiscal 2021 2019. 2020. 2021 2019; 2021 2019; 2021 2019; 2021 2019. The following is a summary of stock option activity for Fiscal 2021: Number of Shares Price (a) Options outstanding, beginning of year 389,090 $ 7.01 Granted 266,500 31.27 Exercised (69,490 ) 6.99 Cancelled (25,000 ) 5.46 Options outstanding, end of year 561,100 17.74 Options exercisable, end of year 285,700 7.46 (a) Stock-based compensation expense was $462,000 for Fiscal 2021, 2020 2019. The total intrinsic value for stock options exercised was $1.9 million for Fiscal 2021, 2020, 2019. 2021, 2020, 2019. 2021, 2020, 2019. 2021. As of May 1, 2021, May 1, 2021 May 2, 2020

Note 11 - Pension Plans

Note 11 - Pension Plans	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	11. PENSION PLANS The Company contributes to certain pension plans under collective bargaining agreements and to a discretionary profit sharing plan. Annual contributions (including contributions to multi-employer plans reflected below) were $3.7 million for Fiscal 2021, 2020 2019. The Company participates in three Summarized below is certain information regarding the Company’s participation in significant multi-employer pension plans including the financial improvement plan or rehabilitation plan status (“FIP/RP Status”) and the zone status under the Pension Protection Act (“PPA”). The most recent PPA zone status available in Fiscal 2021 2020 December 31, 2019 2018, PPA Zone Status Fiscal Fiscal Surcharge Pension Fund 2021 2020 FIP/RP Status Imposed Central States, Southeast and Southwest Areas Pension Plan (EIN no. 36 6044243 Red Red Implemented Yes Western Conference of Teamsters Pension Trust Fund (EIN no. 91 6145047 Green Green Not No For the plan years ended December 31, 2019 December 31, 2018, not 5500 5% October 18, 2021 May 14, 2021, The Company’s contributions for all multi-employer pension plans for the last three (In thousands) Fiscal Fiscal Fiscal Pension Fund 2021 2020 2019 CSSS Fund $ 1,469 $ 1,424 $ 1,465 WCT Fund 746 799 769 Other multi-employer pension funds 166 185 222 Total $ 2,381 $ 2,408 $ 2,456

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. COMMITMENTS AND CONTINGENCIES The Company enters into various agreements with suppliers for the purchase of raw materials, the terms of which may May 1, 2021, $20.0 2023.

Note 13 - Quarterly Financial D

Note 13 - Quarterly Financial Data (Unaudited)	12 Months Ended
	May 01, 2021
Notes to Financial Statements
Quarterly Financial Information [Text Block]	13. QUARTERLY FINANCIAL DATA (UNAUDITED) (In thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2021 Net sales $ 293,367 $ 271,809 $ 245,931 $ 261,103 Gross profit 117,218 108,049 95,664 100,685 Net income 51,164 47,164 36,687 39,131 Earnings per common share – basic $ .55 $ .51 $ .39 $ .42 Earnings per common share – diluted $ .54 $ .51 $ .39 $ .42 Fiscal 2020 Net sales $ 263,568 $ 251,611 $ 222,814 $ 262,401 Gross profit 96,574 92,814 82,095 98,657 Net income 34,542 32,654 26,563 36,213 Earnings per common share – basic $ .37 $ .35 $ .28 $ .39 Earnings per common share – diluted $ .37 $ .35 $ .28 $ .39

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	May 01, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) and rules and regulations of the Securities and Exchange Commission. The consolidated financial statements include the accounts of National Beverage Corp. and all subsidiaries. All significant intercompany transactions and accounts have been eliminated. Our fiscal year ends the Saturday closest to April 30 five six May 1, 2021 ( 2021 April 27, 2019 ( 2019 52 May 2, 2020 ( 2020 53
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification On February 5, 2021, one one February 19, 2021 February 16, 2021. Certain reclassifications have been made to prior period balances in order to conform to the current period's presentation.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Equivalents Cash and equivalents are comprised of cash and highly liquid securities (consisting primarily of bank deposits and short-term government money-market investments).
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments Derivative financial instruments are used to partially mitigate our exposure to changes in certain raw material costs. All derivative financial instruments are recorded at fair value in our consolidated balance sheets. Derivative financial instruments are not
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Common Share Basic earnings per common share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated in a similar manner, but includes the dilutive effect of stock options amounting to 340,000 shares in Fiscal 2021, 2020, 2019.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The estimated fair values of derivative financial instruments are calculated based on market rates to settle the instruments. These values represent the estimated amounts we would receive upon sale, taking into consideration current market prices and credit worthiness.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets All long-lived assets, excluding goodwill and intangible assets not may not not may
Income Tax, Policy [Policy Text Block]	Income Taxes The Company’s effective income tax rate is based on estimates of taxes which will ultimately be payable. Deferred taxes are recorded to give recognition to temporary differences between the tax bases of assets or liabilities and their reported amounts in the financial statements. Valuation allowances are established to reduce the carrying amounts of deferred tax assets when it is deemed, more likely than not, not
Liability Reserve Estimate, Policy [Policy Text Block]	Insurance Programs The Company maintains self-insured and deductible programs for certain liability, medical and workers’ compensation exposures. Accordingly, the Company accrues for known claims and estimated incurred but not not May 1, 2021, May 2, 2020,
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets Intangible Assets as of May 1, 2021 May 2, 2020
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of first first May 1, 2021 May 2, 2020
Advertising Cost [Policy Text Block]	Marketing Costs The Company utilizes a variety of marketing programs, including cooperative advertising programs with customers, to advertise and promote our products to consumers. Marketing costs are expensed when incurred, except for prepaid advertising and production costs, which are expensed when the advertising takes place. Marketing costs, which are included in selling, general and administrative expenses, totaled $43.4 million in Fiscal 2021, 2020 2019.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Property, plant and equipment is recorded at cost. Additions, replacements and betterments are capitalized, while maintenance and repairs that do not 5 30 3 15
Revenue [Policy Text Block]	Revenue Recognition Revenue is recognized upon delivery to our customers, based on written sales terms that do not may 30 may Various sales incentive arrangements are offered to our customers that require customer performance or achievement of certain sales volume targets. Sales incentives are accrued over the period of benefit or expected sales. When the incentive is paid in advance, the aggregate incentive is recorded as a prepaid and amortized over the period of benefit. The recognition of these incentives involves the use of judgment related to performance and sales volume estimates that are made based on historical experience and other factors. Sales incentives are accounted for as a reduction of sales and actual amounts ultimately realized may not
Segment Reporting, Policy [Policy Text Block]	Segment Reporting The Company operates as a single operating segment for purposes of presenting financial information and evaluating performance. As such, the accompanying consolidated financial statements present financial information in a format that is consistent with the internal financial information used by management. The Company does not
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs are reported in selling, general and administrative expenses in the accompanying consolidated statements of income. Such costs aggregated $75.5 million in Fiscal 2021, 2020 2019. may not
Receivable [Policy Text Block]	Trade Receivables Trade receivables are recorded at net realizable value, which includes an estimated allowance for doubtful accounts. The Company extends credit based on an evaluation of each customer’s financial condition, generally without requiring collateral. Exposure to credit losses varies by customer principally due to the financial condition of each customer. The Company continually monitors our exposure to credit losses and maintains allowances for anticipated losses based on our experience with past due accounts, collectability and our analysis of customer data. Actual future losses from uncollectible accounts could differ from the Company’s estimate. Changes in the allowance for doubtful accounts was as follows: (In thousands) Fiscal 2021 Fiscal 2020 Fiscal 2019 Balance at beginning of year $ 1,350 $ 516 $ 452 Net charge (credit) to expense (138 ) 893 87 Net charge-off (72 ) (59 ) (23 ) Balance at end of year $ 1,140 $ 1,350 $ 516 As of May 1, 2021 May 2, 2020, 10% 10% three
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and anticipated future actions, actual results may

Note 1 - Significant Accounti_2

Note 1 - Significant Accounting Policies (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	(In thousands) Fiscal 2021 Fiscal 2020 Fiscal 2019 Balance at beginning of year $ 1,350 $ 516 $ 452 Net charge (credit) to expense (138 ) 893 87 Net charge-off (72 ) (59 ) (23 ) Balance at end of year $ 1,140 $ 1,350 $ 516

Note 2 - Property, Plant and _2

Note 2 - Property, Plant and Equipment (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In thousands) 2021 2020 Land $ 9,835 $ 9,835 Buildings and improvements 62,346 59,618 Machinery and equipment 257,119 238,300 Total 329,300 307,753 Less accumulated depreciation (198,273 ) (187,126 ) Property, plant and equipment – net $ 131,027 $ 120,627

Note 3 - Accrued Liabilities (T

Note 3 - Accrued Liabilities (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	(In thousands) 2021 2020 Accrued compensation $ 11,826 $ 11,348 Accrued promotions 13,361 9,061 Accrued freight 3,653 3,443 Accrued insurance 2,519 2,934 Recycling deposits 7,522 5,688 Other 4,670 10,002 Total $ 43,551 $ 42,476

Note 4 - Leases (Tables)

Note 4 - Leases (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	(In thousands) Fiscal 2022 $ 15,729 Fiscal 2023 10,290 Fiscal 2024 7,996 Fiscal 2025 5,108 Fiscal 2026 3,180 Thereafter 4,311 Total minimum lease payments including interest 46,614 Less: Amounts representing interest (2,977 ) Present value of minimum lease payments 43,637 Less: Current portion of lease liabilities (14,800 ) Non-Current portion of operating lease liabilities $ 28,837

Note 7 - Derivative Financial_2

Note 7 - Derivative Financial Instruments (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal 2021 2020 2019 Recognized in AOCI- Gain (loss) before income taxes $ 12,973 $ (9,613 ) $ (6,138 ) Less income tax provision (benefit) 3,103 (2,299 ) (1,468 ) Net 9,870 (7,314 ) (4,670 ) Reclassified from AOCI to cost of sales- Gain (loss) before income taxes 2,550 (4,786 ) 2,100 Less income tax provision (benefit) 610 (1,145 ) 452 Net 1,940 (3,641 ) 1,648 Net change to AOCI $ 7,930 $ (3,673 ) $ (6,318 )

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal 2021 2020 2019 Current $ 51,520 $ 40,647 $ 39,673 Deferred 2,471 (1,164 ) 3,351 Total $ 53,991 $ 39,483 $ 43,024
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	(In thousands) 2021 2020 Deferred tax assets: Accrued expenses and other $ 3,347 $ 4,930 Inventory and amortizable assets 544 565 Total deferred tax assets 3,891 5,495 Deferred tax liabilities: Property 18,814 18,872 Intangibles and other 2,371 1,446 Total deferred tax liabilities 21,185 20,318 Net deferred tax liabilities $ 17,294 $ 14,823
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Fiscal Fiscal Fiscal 2021 2020 2019 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 2.9 2.9 2.9 Domestic manufacturing deduction benefit - - - Re-measurement of deferred taxes - - - Other differences (.2 ) (.6 ) (.5 ) Effective income tax rate 23.7 % 23.3 % 23.4 %
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal 2021 2020 2019 Beginning balance $ 1,974 $ 1,868 $ 1,733 Increases due to current period tax positions 150 120 139 Decreases due to lapse of statute of limitations and audit resolutions (69 ) (14 ) (4 ) Ending balance $ 2,055 $ 1,974 $ 1,868

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Price (a) Options outstanding, beginning of year 389,090 $ 7.01 Granted 266,500 31.27 Exercised (69,490 ) 6.99 Cancelled (25,000 ) 5.46 Options outstanding, end of year 561,100 17.74 Options exercisable, end of year 285,700 7.46

Note 11 - Pension Plans (Tables

Note 11 - Pension Plans (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Multiemployer Plan [Table Text Block]	(In thousands) Fiscal Fiscal Fiscal Pension Fund 2021 2020 2019 CSSS Fund $ 1,469 $ 1,424 $ 1,465 WCT Fund 746 799 769 Other multi-employer pension funds 166 185 222 Total $ 2,381 $ 2,408 $ 2,456

Note 13 - Quarterly Financial_2

Note 13 - Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	May 01, 2021
Notes Tables
Quarterly Financial Information [Table Text Block]	(In thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2021 Net sales $ 293,367 $ 271,809 $ 245,931 $ 261,103 Gross profit 117,218 108,049 95,664 100,685 Net income 51,164 47,164 36,687 39,131 Earnings per common share – basic $ .55 $ .51 $ .39 $ .42 Earnings per common share – diluted $ .54 $ .51 $ .39 $ .42 Fiscal 2020 Net sales $ 263,568 $ 251,611 $ 222,814 $ 262,401 Gross profit 96,574 92,814 82,095 98,657 Net income 34,542 32,654 26,563 36,213 Earnings per common share – basic $ .37 $ .35 $ .28 $ .39 Earnings per common share – diluted $ .37 $ .35 $ .28 $ .39

Note 1 - Significant Accounti_3

Note 1 - Significant Accounting Policies (Details Textual) $ / shares in Units, Pure in Thousands, $ in Millions	12 Months Ended
	May 01, 2021USD ($)shares	May 02, 2020USD ($)shares	Apr. 27, 2019USD ($)shares	Feb. 05, 2021$ / shares
Stock Dividend, Per Share (in dollars per share) | $ / shares				$ 1
Incremental Common Shares Attributable to Dilutive Effect of Equity Unit Purchase Agreements (in shares) | shares	340,000	400,000	568,000
Self Insurance Reserve and Coverage by Insurance, Noncurrent	$ 5.9	$ 5.5
Self Insurance Reserve, Noncurrent, Covered by Insurance	4.5
Inventory, Finished Goods, Gross, Total	43.3	39.1
Inventory, Raw Materials, Gross, Total	28.2	24.4
Marketing Expense	43.4	54.8	$ 55.3
Shipping and Handling Costs	$ 75.5	$ 69.8	$ 72.4
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers	0
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers	0
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	30 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years

Note 1 - Significant Accounti_4

Note 1 - Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Balance at beginning of year	$ 1,350	$ 516	$ 452
Net charge (credit) to expense	(138)	893	87
Net charge-off	(72)	(59)	(23)
Balance at end of year	$ 1,140	$ 1,350	$ 516

Note 2 - Property, Plant and _3

Note 2 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Depreciation, Total	$ 14.8	$ 14.4	$ 12.8

Note 2 - Property, Plant and _4

Note 2 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	May 01, 2021	May 02, 2020
Land	$ 9,835	$ 9,835
Buildings and improvements	62,346	59,618
Machinery and equipment	257,119	238,300
Total	329,300	307,753
Less accumulated depreciation	(198,273)	(187,126)
Property, plant and equipment – net	$ 131,027	$ 120,627

Note 3 - Accrued Liabilities -

Note 3 - Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	May 01, 2021	May 02, 2020
Accrued compensation	$ 11,826	$ 11,348
Accrued promotions	13,361	9,061
Accrued freight	3,653	3,443
Accrued insurance	2,519	2,934
Recycling deposits	7,522	5,688
Other	4,670	10,002
Total	$ 43,551	$ 42,476

Note 4 - Leases (Details Textua

Note 4 - Leases (Details Textual) $ in Thousands	12 Months Ended
	May 01, 2021USD ($)
Operating Lease, Cost	$ 3,060
Operating Lease, Weighted Average Discount Rate, Percent	3.38%
Operating Lease, Payments	$ 11,100

Note 4 - Leases - Future Minimu

Note 4 - Leases - Future Minimum Lease Payments and Related Liabilities for Non-cancelable Operating Leases (Details) - USD ($) $ in Thousands	May 01, 2021	May 02, 2020
Fiscal 2022	$ 15,729
Fiscal 2023	10,290
Fiscal 2024	7,996
Fiscal 2025	5,108
Fiscal 2026	3,180
Thereafter	4,311
Total minimum lease payments including interest	46,614
Less: Amounts representing interest	(2,977)
Present value of minimum lease payments	43,637
Less: Current portion of lease liabilities	(14,800)	$ (16,980)
Non-Current portion of operating lease liabilities	$ 28,837	$ 32,159

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000
Long-term Line of Credit, Total	0	$ 0
Letters of Credit Outstanding, Amount	2,500
Line of Credit Facility, Remaining Borrowing Capacity	$ 97,500
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%

Note 6 - Capital Stock and Tr_2

Note 6 - Capital Stock and Transactions With Related Parties (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jan. 29, 2021	Jan. 29, 2019	Aug. 04, 2017	Jan. 27, 2017	May 01, 2021	May 02, 2020	Apr. 27, 2019	May 02, 2020	Apr. 30, 2012
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares)									3,200,000
Treasury Stock, Shares, Acquired (in shares)						154,512		1,313,144
Treasury Stock, Value, Acquired, Cost Method						$ 6,200
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)						1,886,856		1,886,856
Payments of Ordinary Dividends, Common Stock	$ 279,900	$ 135,200	$ 69,900	$ 69,900	$ 279,876	$ 0	$ 135,247
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 3	$ 1.45	$ 75	$ 75
CMA [Member]
Averaged Operating Costs					1
Averaged Lease Buy-down Payments and Financing Costs					6,000
Related Party Transaction, Amounts of Transaction					10,700	10,000	$ 10,200
Accounts Payable, Total					3,800	$ 2,600		$ 2,600
CMA [Member] | Costs Reimbursable Under Management Agreement [Member]
Accounts Payable, Total					$ 1,200

Note 7 - Derivative Financial_3

Note 7 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions	May 01, 2021	May 02, 2020
Derivative, Notional Amount	$ 6.2
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months	3.6
Prepaid Expenses and Other Current Assets [Member]
Derivative Asset, Current	$ 3.6
Accrued Liabilities1 [Member]
Derivative Liability, Current		$ 6.9

Note 7 - Derivative Financial_4

Note 7 - Derivative Financial Instruments - Derivatives Instruments, Statements of Financial Performance and Financial Position (Details) - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Gain (loss) before income taxes	$ 12,973	$ (9,613)	$ (6,138)
Less income tax provision (benefit)	3,103	(2,299)	(1,468)
Net	9,870	(7,314)	(4,670)
Gain (loss) before income taxes	2,550	(4,786)	2,100
Less income tax provision (benefit)	610	(1,145)	452
Net	1,940	(3,641)	1,648
Net change to AOCI	$ 7,930	$ (3,673)	$ (6,318)

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual)	12 Months Ended
	May 01, 2021USD ($)
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions	$ 53,000
Changes in Income Tax if All Uncertain Tax Positions Prevail	1,700,000
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	258,000
Unrecognized Tax Benefits, Period Increase (Decrease), Total	$ (9,000)
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year	2016 2017 2018 2019 2020 2021
State and Local Jurisdiction [Member]
Open Tax Year	2014 2015 2016 2017 2018 2019 2020 2021

Note 8 - Income Taxes - Compone

Note 8 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Current	$ 51,520	$ 40,647	$ 39,673
Deferred	2,471	(1,164)	3,351
Total	$ 53,991	$ 39,483	$ 43,024

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	May 01, 2021	May 02, 2020
Deferred tax assets:
Accrued expenses and other	$ 3,347	$ 4,930
Inventory and amortizable assets	544	565
Total deferred tax assets	3,891	5,495
Deferred tax liabilities:
Property	18,814	18,872
Intangibles and other	2,371	1,446
Total deferred tax liabilities	21,185	20,318
Net deferred tax liabilities	$ 17,294	$ 14,823

Note 8 - Income Taxes - Reconci

Note 8 - Income Taxes - Reconciliation of Income Tax Rate (Details)	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Statutory federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	2.90%	2.90%	2.90%
Domestic manufacturing deduction benefit	0.00%	0.00%	0.00%
Re-measurement of deferred taxes	0.00%	0.00%	0.00%
Other differences	(2.00%)	(6.00%)	(5.00%)
Effective income tax rate	23.70%	23.30%	23.40%

Note 8 - Income Taxes - Unrecog

Note 8 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Beginning balance	$ 1,974	$ 1,868	$ 1,733
Increases due to current period tax positions	150	120	139
Decreases due to lapse of statute of limitations and audit resolutions	(69)	(14)	(4)
Ending balance	$ 2,055	$ 1,974	$ 1,868

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	266,500	0	18,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)	7 years 2 months 12 days		8 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	19.36%		21.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	3.85%		2.60%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	1.30%		1.60%
Share-based Payment Arrangement, Expense	$ 462,000	$ 126,000	$ 251,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	1,900,000	4,900,000	2,200,000
Proceeds from Stock Options Exercised	491,000	740,000	456,000
Share-based Payment Arrangement, Expense, Tax Benefit	382,000	$ 974,000	$ 443,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 13.01
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 490,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	4 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year)	4 years 10 months 24 days	3 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 16,900,000	$ 7,000,000
Omnibus Plan [Member]
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Authorized Per Individual (in shares)	1,680,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Omnibus Plan [Member] | Stock Options or Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	9,600,000
Omnibus Plan [Member] | SARS Dividend Equivalents and Other Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	9,600,000
Special Stock Option Plan [Member] | Determined by Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	3,600,000
Special Stock Option Plan [Member] | Determined By Chairman Member
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	100,000
KEEP Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	480,000
Share Based Compensation Arrangement by Share Based Payment Award Number of Shares Authorized Per Individual (in shares)	12,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	6 years
Share Based Compensation Arrangement by Share Based Payment Award Percentage of Purchased Shares Matched	50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants, Period (Year)	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	60.00%

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares		12 Months Ended
		May 01, 2021	May 02, 2020	Apr. 27, 2019
Options outstanding, beginning of year (in shares)		389,090
Options outstanding, beginning of year (in dollars per share)	[1]	$ 7.01
Granted (in shares)		266,500	0	18,000
Granted (in dollars per share)	[1]	$ 31.27
Exercised (in shares)		(69,490)
Exercised (in dollars per share)	[1]	$ 6.99
Cancelled (in shares)		(25,000)
Cancelled (in dollars per share)	[1]	$ 5.46
Options outstanding, end of year (in shares)		561,100	389,090
Options outstanding, end of year (in dollars per share)	[1]	$ 17.74	$ 7.01
Options exercisable, end of year (in shares)		285,700
Options exercisable, end of year (in dollars per share)	[1]	$ 7.46
[1]	Weighted average exercise price.

Note 11 - Pension Plans (Detail

Note 11 - Pension Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Payment for Pension Benefits	$ 3.7	$ 3.6	$ 3.8

Note 11 - Pension Plans - Contr

Note 11 - Pension Plans - Contributions for All Multi-employer Pension Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	May 01, 2021	May 02, 2020	Apr. 27, 2019
Fund	$ 2,381	$ 2,408	$ 2,456
CSSS Fund [Member]
Fund	1,469	1,424	1,465
WCT Fund [Member]
Fund	746	799	769
Other Multi-employer Pension Funds [Member]
Fund	$ 166	$ 185	$ 222

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Details Textual) $ in Millions	May 02, 2020USD ($)
Raw Material [Member]
Purchase Obligation, to be Paid, Year One	$ 20

Note 13 - Quarterly Financial_3

Note 13 - Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	May 01, 2021	Jan. 30, 2021	Oct. 31, 2020	Aug. 01, 2020	May 02, 2020	Jan. 25, 2020	Oct. 26, 2019	Jul. 27, 2019	May 01, 2021	May 02, 2020	Apr. 27, 2019
Net sales	$ 261,103	$ 245,931	$ 271,809	$ 293,367	$ 262,401	$ 222,814	$ 251,611	$ 263,568	$ 1,072,210	$ 1,000,394	$ 1,014,105
Gross profit	100,685	95,664	108,049	117,218	98,657	82,095	92,814	96,574	421,616	370,140	384,350
Net income	$ 39,131	$ 36,687	$ 47,164	$ 51,164	$ 36,213	$ 26,563	$ 32,654	$ 34,542	$ 174,146	$ 129,972	$ 140,853
Earnings per common share – basic (in dollars per share)	$ 42	$ 39	$ 51	$ 55	$ 39	$ 28	$ 35	$ 37	$ 1.87	$ 1.39	$ 1.51
Earnings per common share – diluted (in dollars per share)	$ 42	$ 39	$ 51	$ 54	$ 39	$ 28	$ 35	$ 37	$ 1.86	$ 1.39	$ 1.50