Note Q - Leases

3 Months Ended

Jun. 28, 2026

Notes to Financial Statements

Leases, Disclosure [Text Block]

NOTE Q – LEASES

The Company is party as lessee to various leases for land, buildings and certain office equipment for its Company-owned restaurants and corporate office. The Company previously leased and subleased one property; this arrangement was terminated on November 4, 2025.

Company as lessee

The components of the net lease cost for the thirteen week periods ended June 28, 2026 and June 29, 2025 were as follows (in thousands):

	Thirteen weeks ended
	June 28, 2026		June 29, 2025
Operating lease cost	$	439	$	438
Variable lease cost		474		464
Less: Sublease income, net		-		(21	)
Total net lease cost	$	913	$	881

The components of the net lease cost are included in the Condensed Consolidated Statement of Earnings for the thirteen week periods ended June 28, 2026 and June 29, 2025 as follows (in thousands):

	Thirteen weeks ended
	June 28, 2026		June 29, 2025
Restaurant operating expenses	$	692	$	682
General and administrative expenses		221		220
Less: Other income, net		-		(21	)
Total net lease cost	$	913	$	881

Cash paid for amounts included in the measurement of lease liabilities for the thirteen week periods ended June 28, 2026 and June 29, 2025 were as follows (in thousands):

	Thirteen weeks ended
	June 28, 2026		June 29, 2025
Operating cash flows from operating leases	$	566	$	561

The weighted average remaining lease term and weighted average discount rate for operating leases as of June 28, 2026 were as follows:

Weighted average remaining lease term (years):	2.3
Weighted average discount rate:	8.449	%

Future lease commitments to be paid and received by the Company as of June 28, 2026 were as follows (in thousands):

	Payments			Receipts
	Operating Leases			Subleases		Net Leases
Fiscal year:
2027(a)	$	1,375		$	67	$	1,308
2028		1,790			115		1,675
2029		440			-		440
2030		171			-		171
Total lease commitments	$	3,776		$	182	$	3,594
Less: Amount representing interest		(322	)
Present value of lease liabilities (b)	$	3,454

(a) Represents future lease commitments to be paid and received by the Company for the remainder of the 2027 fiscal year. Amount does not include $520 of lease commitments paid and received by the Company for the thirteen week period ended June 28, 2026.

(b) The present value of minimum operating lease payments of $1,944 and $1,510 are included in “Current portion of operating lease liabilities” and “Long-term portion of operating lease liabilities,” respectively, on the Condensed Consolidated Balance Sheet.

Company as lessor

The components of lease income for the thirteen week periods ended June 28, 2026 and June 29, 2025 were as follows (in thousands):

	Thirteen weeks ended
	June 28, 2026		June 29, 2025
Operating lease income, net	$	-	$	21