Income Per Share

3 Months Ended

Nov. 29, 2025

6. Income Per Share

The Company calculates income per share by allocating income to its unvested participating securities as part of its income per share calculations. The following table sets forth the computation of basic income per share using the two-class method for amounts attributable to the Company’s shares of Common Stock and Class B Common Stock (in thousands, except per share data):


	Thirteen Weeks Ended
	November 29, 2025		November 30, 2024
Net income available to shareholders	$	34,363	$	43,105
Allocation of net income for Basic:
Common Stock	$	28,760	$	36,213
Class B Common Stock		5,603		6,892
	$	34,363	$	43,105
Weighted average number of shares for Basic:
Common Stock		14,597		15,012
Class B Common Stock		3,551		3,574
		18,148		18,586
Income per share for Basic:
Common Stock	$	1.97	$	2.41
Class B Common Stock	$	1.58	$	1.93

The Company is required to calculate diluted income per share for Common Stock using the more dilutive of the following two methods:

•

The treasury stock method; or

•

The two-class method assuming a participating security is not exercised or converted.

For the thirteen weeks ended November 29, 2025 and November 30, 2024, the Company’s diluted income per share assumes the conversion of all vested Class B Common Stock into Common Stock and uses the two-class method for its unvested participating shares. The following tables set forth the computation of diluted income per share of Common Stock for the thirteen weeks ended November 29, 2025 and November 30, 2024 (in thousands, except per share data):


	Thirteen Weeks Ended November 29, 2025
	Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	28,760		14,597	$	1.97
Add: effect of dilutive potential common shares
Share-Based Awards		—		40
Class B Common Stock		5,603		3,551
As reported – Diluted	$	34,363		18,188	$	1.89


	Thirteen Weeks Ended November 30, 2024
	Earnings to Common Shareholders		Common Shares		Income Per Share
As reported - Basic	$	36,213		15,012	$	2.41
Add: effect of dilutive potential common shares
Share-Based Awards		—		80
Class B Common Stock		6,892		3,574
As reported – Diluted	$	43,105		18,666	$	2.31

Anti-dilutive stock-based awards excluded from the calculations of diluted income per share were immaterial during the periods presented.