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SEGMENT INFORMATION
12 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Operating segments are defined as components of a company that engage in business activities from which it may earn revenue and incur expenses, and for which separate financial information is available and is regularly reviewed by the chief operating decision maker ("CODM") to assess the performance of the individual segments and make decisions about company resources such as personnel and working capital to be allocated to the segments.
The Company determined that it has one operating segment and one reportable segment which is reflected in the Company’s current organizational and management structure. The accounting policies of the segment are the same as those described in Note 1 - Business and Summary of Significant Accounting Policies.
The Company’s CODM is the Chief Executive Officer who manages the Company’s operations on a reportable segment basis. The Company’s CODM reviews its operations and financial performance at a consolidated level by comparing actual results to expected and prior period results. This approach allows the CODM to assess whether the Company’s operating segment is meeting its financial goals, identify trends and make more informed decisions about resource allocation and performance targets.
When evaluating the Company’s financial performance, the CODM regularly reviews total revenues, expenses and consolidated net income (loss) as reported on the Consolidated Statements of Operations as well as non-GAAP measures such as Adjusted EBITDA to allocate Company resources and assess the performance of the Company. Segment asset information is not used by the CODM to assess performance and allocate resources.
The table below is a summary of the segment net income (loss), including significant segment expenses for the years ended September 27, 2025 and September 28, 2024:
Year Ended
September 27,
2025
September 28,
2024
(in thousands)
REVENUES:
Food and beverage sales$163,312 $179,110 
Other revenue2,439 4,435 
Total revenues165,751 183,545 
COSTS AND EXPENSES:
Food and beverage cost of sales46,427 49,519 
Payroll expenses60,346 65,844 
Occupancy expenses22,527 24,622 
Other operating costs and expenses (1)22,644 24,125 
General and administrative expenses (2)12,001 12,263 
Depreciation and amortization3,138 4,090 
(Gain) loss on closure of El Rio Grande(173)876 
Gain on termination of Tampa Food Court lease(5,235)— 
Impairment losses on right-of-use and long-lived assets4,700 2,500 
Goodwill impairment3,440 4,000 
Interest expense, net369 577 
Other (income) expense, net (3)(594)(311)
Provision (benefit) for income taxes5,324 (815)
Segment net loss(9,163)(3,745)
Reconciliation of profit or loss:
Adjustments and reconciling items— — 
Consolidated net loss$(9,163)$(3,745)
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(1) Other operating costs and expenses are comprised of utilities, repairs and maintenance, advertising, credit card processing fees, restaurant supplies and other restaurant operating costs.
(2) General and administrative expenses relate solely to the corporate office in New York City and are comprised of salaries and benefits, professional and consulting fees and rent and related expenses. .
(3) Other (income) expense, net includes gains and losses on disposal of assets, dividends received and a gain on PPP loan forgiveness.