XML 32 R22.htm IDEA: XBRL DOCUMENT v3.25.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 26, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense
The table below presents components of lease expense for operating leases within the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income:
Thirteen Weeks EndedTwenty-six Weeks Ended
in thousandsJune 26, 2025June 27, 2024June 26, 2025June 27, 2024
Fixed operating lease cost:Selling and store operating$47,324 $43,840 $94,601 $86,575 
Cost of sales13,693 6,461 23,920 12,913 
Pre-opening1,724 4,151 3,255 7,214 
General and administrative1,135 1,031 2,264 2,060 
Total fixed operating lease cost$63,876 $55,483 $124,040 $108,762 
Variable lease cost (1):Selling and store operating$20,836 $17,999 $42,427 $36,091 
Cost of sales2,076 1,067 3,727 2,350 
Pre-opening125 162 286 335 
General and administrative447 578 796 1,157 
Total variable lease cost$23,484 $19,806 $47,236 $39,933 
Sublease incomeCost of sales(875)(680)(1,630)(1,362)
Total operating lease cost (2)$86,485 $74,609 $169,646 $147,333 
(1) Includes variable costs for common area maintenance, property taxes, and insurance on leased real estate.
(2) Excludes short-term lease costs, which were immaterial for the thirteen and twenty-six weeks ended June 26, 2025 and June 27, 2024.
Schedule of Future Minimum Lease Payments under Non Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases as of June 26, 2025 were as follows:
in thousandsAmount
Twenty-six weeks ending December 25, 2025$121,692 
2026249,904 
2027239,690 
2028219,532 
2029207,159 
Thereafter1,542,698 
Total minimum lease payments (1) (2)2,580,675 
Less: amount of lease payments representing interest825,259 
Present value of future minimum lease payments1,755,416 
Less: current obligations under leases148,871 
Long-term lease obligations$1,606,545 
(1) Future lease payments exclude approximately $64.7 million of legally binding minimum lease payments for operating leases signed but not yet commenced.
(2) Operating lease payments include $283.4 million related to options to extend lease terms that are reasonably certain of being exercised.