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Net Income per Share (Tables) | 6 Months Ended
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Jun. 28, 2025
Earnings Per Share [Abstract] |
Computation of Net Income per Share, Basic | The following table sets forth the computation of basic net income per share using the two-class method:
|  | Thirteen weeks ended |  |  | Twenty-six weeks ended |
|  | June 28, 2025 |  |  | June 29, 2024 |  |  | June 28, 2025 |  |  | June 29, 2024 |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Net income |  | $ | 60,433 |  |  | $ | 52,339 |  |  | $ | 84,845 |  |  | $ | 64,936 |
Allocation of net income for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 48,993 |  |  | $ | 43,116 |  |  | $ | 68,927 |  |  | $ | 53,575 |
Class B Common Stock |  |  | 11,269 |  |  |  | 9,097 |  |  |  | 15,689 |  |  |  | 11,213 |
Unvested participating shares |  |  | 171 |  |  |  | 126 |  |  |  | 229 |  |  |  | 148 |
|  | $ | 60,433 |  |  | $ | 52,339 |  |  | $ | 84,845 |  |  | $ | 64,936 |
Weighted average number of shares for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  |  | 8,990 |  |  |  | 9,801 |  |  |  | 9,086 |  |  |  | 9,881 |
Class B Common Stock |  |  | 2,068 |  |  |  | 2,068 |  |  |  | 2,068 |  |  |  | 2,068 |
Unvested participating shares |  |  | 32 |  |  |  | 29 |  |  |  | 29 |  |  |  | 27 |
|  |  | 11,090 |  |  |  | 11,898 |  |  |  | 11,183 |  |  |  | 11,976 |
Net income per share for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 5.45 |  |  | $ | 4.40 |  |  | $ | 7.59 |  |  | $ | 5.42 |
Class B Common Stock |  | $ | 5.45 |  |  | $ | 4.40 |  |  | $ | 7.59 |  |  | $ | 5.42 |
Computation of Net Income per Share, Diluted | The following table sets forth the computations of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen and twenty-six w eeks ended June 28, 2025 and for the thirteen and twenty-six weeks ended June 29, 2024:
|  | Thirteen weeks ended |
|  | June 28, 2025 |  |  | June 29, 2024 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 48,993 |  |  |  | 8,990 |  |  | $ | 5.45 |  |  | $ | 43,116 |  |  |  | 9,801 |  |  | $ | 4.40 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 9 |  |  |  |  |  |  | — |  |  |  | 19 |  |  |  |
Class B Common Stock |  |  | 11,269 |  |  |  | 2,068 |  |  |  |  |  |  | 9,097 |  |  |  | 2,068 |  |  |  |
Net effect of unvested participating shares |  |  | — |  |  |  | — |  |  |  |  |  |  | — |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 60,262 |  |  |  | 11,067 |  |  | $ | 5.45 |  |  | $ | 52,213 |  |  |  | 11,888 |  |  | $ | 4.39 |
|  | Twenty-six weeks ended |
|  | June 28, 2025 |  |  | June 29, 2024 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 68,927 |  |  |  | 9,086 |  |  | $ | 7.59 |  |  | $ | 53,575 |  |  |  | 9,881 |  |  | $ | 5.42 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 9 |  |  |  |  |  |  | — |  |  |  | 22 |  |  |  |
Class B Common Stock |  |  | 15,689 |  |  |  | 2,068 |  |  |  |  |  |  | 11,213 |  |  |  | 2,068 |  |  |  |
Net effect of unvested participating shares |  |  | — |  |  |  | — |  |  |  |  |  |  | - |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 84,616 |  |  |  | 11,163 |  |  | $ | 7.58 |  |  | $ | 64,788 |  |  |  | 11,971 |  |  | $ | 5.41 |

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