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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 27, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Components of Lease Expense

The table below presents components of lease expense for operating leases.

												Thirteen Weeks Ended												Twenty-six Weeks Ended
in thousands						Classification						June 27, 2024						June 29, 2023						June 27, 2024						June 29, 2023
Fixed operating lease cost:						Selling and store operating						$	43,840					$	38,529					$	86,575					$	76,673
						Cost of sales						6,461						5,213						12,913						11,471
						Pre-opening						4,151						3,906						7,214						6,972
						General and administrative						1,031						1,030						2,060						2,102
Total fixed operating lease cost												$	55,483					$	48,678					$	108,762					$	97,218
Variable lease cost (1):						Selling and store operating						$	17,999					$	15,282					$	36,091					$	29,768
						Cost of sales						1,067						1,039						2,350						2,158
						Pre-opening						162						12						335						143
						General and administrative						578						316						1,157						619
Total variable lease cost												$	19,806					$	16,649					$	39,933					$	32,688
Sublease income						Cost of sales						(680)						(681)						(1,362)						(1,360)
Total operating lease cost (2)												$	74,609					$	64,646					$	147,333					$	128,546

(1) Includes variable costs for common area maintenance, property taxes, and insurance on leased real estate.

(2) Excludes short-term lease costs, which were immaterial for the thirteen and twenty-six weeks ended June 27, 2024 and June 29, 2023.

Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases

Future minimum lease payments under non-cancelable operating leases as of June 27, 2024 were as follows:

in thousands						Amount
Twenty-six weeks ending December 26, 2024						$	100,824
2025						219,589
2026						206,727
2027						195,791
2028						175,773
Thereafter						1,268,792
Total minimum lease payments (1) (2)						2,167,496
Less: amount of lease payments representing interest						672,586
Present value of future minimum lease payments						1,494,910
Less: current obligations under leases						132,770
Long-term lease obligations						$	1,362,140

(1) Future lease payments exclude approximately $451.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced.

(2) Operating lease payments include $255.0 million related to options to extend lease terms that are reasonably certain of being exercised.

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- References

No definition available.

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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