Note 7 - Property and Equipment

12 Months Ended

Nov. 28, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7. Property and Equipment

Property and equipment consist of the following:

	November 28, 2020			November 30, 2019
Land	$	9,478		$	9,478
Buildings and leasehold improvements		114,961			126,085
Machinery and equipment		118,112			115,131
Property and equipment at cost		242,551			250,694
Less accumulated depreciation		(151,634	)		(148,970	)
Property and equipment, net	$	90,917		$	101,724

The net book value of our property and equipment by reportable segment is a follows:

	November 28, 2020		November 30, 2019
Wholesale	$	26,999	$	28,993
Retail - Company-owned stores		44,820		55,625
Logistical Services		19,098		17,106
Total property and equipment, net	$	90,917	$	101,724

At November 30, 2019 we owned one retail store property located in Gulfport, Mississippi which was under contract to be sold. The net book value of the property of $1,569 at November 30, 2019 was classified as held for sale and included in other current assets in the accompanying consolidated balance sheets at November 30, 2019. The sale of the property was completed during the first quarter of fiscal 2020 for net proceeds of $1,639.

Depreciation expense associated with the property and equipment shown above was included in income from operations in our consolidated statements of operations as follows:

	2020		2019		2018
Cost of goods sold (wholesale segment)	$	1,552	$	1,402	$	1,264
Selling, general and adminstrative expenses:
Wholesale segment		1,516		1,672		1,666
Retail segment		6,578		7,479		7,060
Logistical services segment		3,454		3,697		3,747
Total included in selling, general and adminstrative expenses		11,548		12,848		12,473
Total depreciation expense included in income from operations	$	13,100	$	14,250	$	13,737