Income Taxes

4 Months Ended

Apr. 19, 2025

Income Tax Disclosure [Abstract]

Income Taxes

20. INCOME TAXES

The company’s effective tax rate for the sixteen weeks ended April 19, 2025 was 25.6% compared to 24.0% for the sixteen weeks ended April 20, 2024. The increase in the rate was primarily due to a discrete tax expense in the current quarter when compared to the discrete tax benefit for the prior year quarter. For the periods presented, the discrete items in the effective rate relate to state income taxes, shortfalls in the current period and windfalls in the prior year period on the vesting of stock-based compensation awards, and benefits recognized from tax credits. During the sixteen weeks ended April 19, 2025, the primary differences in the effective rate and the statutory rate were state income taxes.

During the sixteen weeks ended April 19, 2025, the company’s activity with respect to its uncertain tax positions and related interest expense accrual was not significant to the Condensed Consolidated Financial Statements. As of April 19, 2025, we do not anticipate significant changes to the amount of gross unrecognized tax benefits over the next twelve months.