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Lease Obligations
12 Months Ended
May 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Lease Obligations
7.
LEASE OBLIGATIONS

The Company leases real and personal property in the normal course of business under various operating leases. The Company uses operating leases for facility space and automobiles. Most of the leased facility space is for sales and general office use. Automobile leases are used throughout the Company. Several leases include renewal clauses which vary in length and may not include specific rent renewal amounts. The Company will revise the value of the right of use assets and associated lease liabilities upon a remeasurement event.

The gross amounts of assets and liabilities related to operating leases on May 30, 2026 and May 31, 2025 were as follows (in thousands):

 

Lease Type

 

May 30, 2026

 

 

May 31, 2025

 

Right of use lease assets

 

$

1,389

 

 

$

2,276

 

 

 

 

 

 

 

 

Lease liabilities current

 

$

787

 

 

$

1,171

 

 

 

 

 

 

 

 

Lease liabilities non-current

 

$

602

 

 

$

1,105

 

The components of lease costs for fiscal 2026, fiscal 2025 and fiscal 2024 were as follows (in thousands):

 

 

 

 

 

Fiscal Year Ended

 

Lease Type

 

Classification

 

May 30, 2026

 

 

May 31, 2025

 

 

June 1, 2024

 

Consolidated operating lease expense

 

Selling, general and administrative expenses

 

$

1,668

 

 

$

1,610

 

 

$

1,745

 

Future maturities of operating lease liabilities for the next five fiscal years are as follows (in thousands):

Fiscal Year

 

Operating Leases

 

2027

 

$

831

 

2028

 

 

412

 

2029

 

 

211

 

2030

 

 

5

 

Total lease payments

 

 

1,459

 

Lease inputted interest

 

 

70

 

Net minimum lease payments

 

$

1,389

 

The weighted average remaining lease terms and interest rates of leases held by the Company as of May 30, 2026 and May 31, 2025 were as follows:

Operating Leases as of:

 

Weighted Average Remaining
Lease Term in Years

 

Weighted Average
Interest Rate

May 30, 2026

 

1.8

 

5.3%

May 31, 2025

 

4.1

 

5.1%

The cash activities associated with our leases for fiscal 2026, fiscal 2025 and fiscal 2024 were as follows (in thousands):

 

 

 

 

Fiscal Year Ended

 

Cash Flow Source

 

Classification

 

May 30, 2026

 

 

May 31, 2025

 

 

June 1, 2024

 

Operating cash flows from operating leases

 

Operating activities

 

$

1,336

 

 

$

1,384

 

 

$

1,329