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Significant Accounting Policies - 10K (Tables)
 5 Months Ended
Oct. 15, 2023
Accounting Policies [Abstract]  
Schedule of Effect of Error Corrections
The following table presents the effect of the error corrections on the Consolidated Balance Sheets for the periods indicated:
As of April 24, 2022
As ReportedAdjustmentAs Corrected
Property and equipment, net$50,627 $(247)$50,380 
Operating lease right-of-use assets52,958 318 53,276 
Total Assets114,401 71 114,472 
Accounts Payable17,348 (416)16,932 
Accrued Occupancy Costs15,723 (479)15,244 
Other Accrued Liabilities7,358 161 7,519 
Current portion of operating lease liabilities9,177 (279)8,898 
Total Current Liabilities68,140 (1,013)67,127 
Operating lease liabilities82,413 3,139 85,552 
Total liabilities169,684 2,126 171,810 
Common stock (par value: $.01)
57 5 62 
Additional paid-in capital1,350 300 1,650 
Accumulated Deficit(108,908)(2,360)(111,268)
Total stockholders' deficit(107,501)(2,055)(109,556)
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit114,401 71 114,472 
The following tables presents the effect of the error corrections on the Consolidated Statements of Operations for the periods indicated:
Fiscal Year Ended April 24, 2022
As ReportedAdjustmentAs Corrected
Store labor and benefits$23,984 $161 $24,145 
Store occupancy costs (excluding depreciation)12,958 (366)12,592 
Other store operating expenses, excluding depreciatoin15,162 (631)14,531 
General and administrative expenses11,639 677 12,316 
Depreciaton Expense8,846 (28)8,818 
Operating loss(11,518)187 (11,331)
Loss Before Income Taxes(10,066)187 (9,879)
Net Loss(10,104)187 (9,917)
Basic and diluted loss per share$(1.65)$0.03 $(1.62)
Fiscal Year Ended April 25, 2021
As ReportedAdjustmentAs Corrected
Store occupancy costs (excluding depreciation)$14,524 $396 $14,920 
Other store operating expenses, excluding depreciatoin7,317 (280)7,037 
General and administrative expenses5,978 342 6,320 
Operating loss(29,080)(458)(29,538)
Loss Before Income Taxes(29,527)(458)(29,985)
Net Loss(29,540)(458)(29,998)
Basic and diluted loss per share$(4.86)$(0.08)$(4.93)
The following table presents the effect of the error corrections on the Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Deficit for the periods indicated:
As ReportedAdjustmentAs Corrected
Common stock (par value: $.01) - April 26, 2020
$56 $5 $61 
Additional paid-in capital - April 26, 2020819 51 870 
Accumulated Deficit Balance - April 26, 2020(69,264)(2,089)(71,353)
Total Stockholders' Deficit Balance - April 26, 2020(68,389)(2,033)(70,422)
Net Loss - Fiscal Year Ended April 25, 2021(29,540)(458)(29,998)
Stock Based Compensation303 62 365 
Additional paid-in capital - April 25, 20211,202 113 1,315 
Accumulated Deficit Balance - April 25, 2021(98,804)(2,547)(101,351)
Total Stockholders' Deficit Balance - April 25, 2021(97,546)(2,429)(99,975)
Net Loss - Fiscal Year Ended April 24, 2022(10,104)187 (9,917)
Stock Based Compensation93 187 280 
Additional paid-in capital - April 24, 20221,350 300 1,650 
Accumulated Deficit Balance - April 24, 2022(108,908)(2,361)(111,269)
Total Stockholders' Deficit Balance - April 24, 2022(107,501)(2,055)(109,556)
The following table presents the effect of the error corrections on the Consolidated Statements of Cash Flows for the periods indicated:
Fiscal Year Ended April 24, 2022
As ReportedAdjustmentAs Corrected
Net Loss$(10,104)$187 $(9,917)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation Expense8,846 (28)8,818 
Non Cash Lease Expense4,114 41 4,155 
Stock based compensation93 187 280 
(Decrease) increase in operating liabilities
Accounts Payable1,961 (141)1,820 
Accrued Occupancy Costs(4,703)(660)(5,363)
Other Accrued Liabilities115 161 276 
Operating Lease Liabilities(8,705)254 (8,451)
Supplemental disclosures of cash flow information:
Increase for capital expenditures in accounts payable1,328 (274)1,054 
Net cash used in operating activities(5,586)— (5,586)
Schedule of Property and Equipment
Property and equipment, net is summarized as follows:
October 15, 2023April 30, 2023
Leasehold improvements70,421 61,534 
Furniture, fixtures, and equipment38,428 33,361 
Building and building improvements7,000 7,000 
Construction in progress20,847 24,568 
Total cost136,696 126,463 
Less: accumulated depreciation(66,962)(63,621)
Property and equipment, net69,734 62,842 
Depreciation is computed on the straight-line method, based on assets’ useful lives or the shorter of the estimated useful lives or the terms of the
underlying leases of the related leasehold improvements. Estimated depreciable lives for categories of property and equipment follow:
Depreciable
Life - Years
Furniture, fixtures, and equipment
3-10
Leasehold improvements
10-20
Building and building improvements
15-30
Property and equipment, net is summarized as follows:
April 30, 2023April 24, 2022
Leasehold improvements$63,606 $65,048 
Furniture, fixtures, and equipment34,069 34,381 
Building and building improvements7,000 7,000 
Construction in progress24,569 2,261 
Total cost129,244 108,690 
Less: accumulated depreciation(66,402)(58,310)
Property and equipment, net$62,842 $50,380 
Components of Revenue The components of gift card revenue were as follows:
Twelve Weeks EndedTwenty-Four Weeks Ended
October 15, 2023October 9, 2022October 15, 2023October 9, 2022
Redemptions, net of discounts$369 $293 $883 $666 
Breakage$103 $70 $245 $462 
Gift card revenue, net$472 $363 $1,128 $1,128 
The components of gift card revenue are as follows:
Fiscal Year Ended
April 30, 2023April 24, 2022April 25, 2021
Redemptions, net of discounts$1,415 $960 $444 
Breakage755 286 95 
Gift card revenue, net$2,170 $1,246 $539 
Schedule of Advertising Costs Incurred Advertising costs incurred were as follows:
Fiscal Year Ended
April 30, 2023April 24, 2022April 25, 2021
General and administrative expenses3,044 3,436 1,724 
Pre-opening expenses604 — — 
$3,648 $3,436 $1,724