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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 26, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS The Company evaluated subsequent events through August 9, 2022, the date its accompanying condensed consolidated financial statements were available to be issued. Except as discussed below, there are no events that require adjustment to or disclosure in these condensed consolidated financial statements. On August 8, 2022, the Company took a number of steps to manage operating expenses (the “Plan”), which included workforce reduc tions affecting approximately 5% of employees at the sweetgreen Support Center, and a reduction of the Company’s real estate footprint by vacating the premises for the existing sweetgreen Support Center and moving to a smaller office space adjacent to its existing location (the “Office Move”). The Company expects to incur total pre-tax restructuring and related charges of approximately $8.9 million to $10.7 million, including approximately $0.5 million to $0.8 million of severance and related benefits costs related to the Plan and approximately $8.4 million to $9.9 million of non-cash expenses due to the Office Move. The Company expects to recognize these expenses primarily in the third quarter of fiscal year 2022. The charges that the Company expects to incur are subject to a number of assumptions, primarily related to estimated time to sublease the vacated portion of the sweetgreen Support Center and related sublease rent received, and actual expenses may differ materially from the estimates disclosed above. In conjunction with the Office Move, the Company’s principal corporate headquarters is now 3102 36th Street, Los Angeles, CA 90018.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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