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LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Components of Lease Cost

The components of lease cost for the thirteen and twenty-six weeks ended June 30, 2024 and June 25, 2023 were as follows:

						Thirteen weeks ended												Twenty-six weeks ended
(dollar amounts in thousands)			Classification			June 30, 2024						June 25, 2023						June 30, 2024						June 25, 2023
Operating lease cost			Occupancy and related expense General and administrative expense Pre-opening costs			$	12,766					$	12,586					$	25,148					$	24,415
Variable lease cost			Occupancy and related expense General and administrative expense			3,329						2,178						6,276						4,790
Short term lease cost			Occupancy and related expense General and administrative expense			116						74						230						219
Sublease income			General and administrative expense			—						(178)						—						(356)
Total lease cost						$	16,211					$	14,660					$	31,654					$	29,068

A summary of lease terms and discount rates for operating leases as of June 30, 2024 and December 31, 2023 is as follows:

			June 30, 2024						December 31, 2023
Weighted average remaining lease term (years):
Operating Leases			7.32						7.41
Weighted average discount rate:
Operating Leases			6.68		%				6.51		%

Supplemental cash flow information related to leases for the twenty-six weeks ended June 30, 2024 and June 25, 2023:

			June 30, 2024						June 25, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives			$	22,958					$	21,870
Right of use assets obtained in exchange for lease obligations:
Operating leases			$	20,950					$	14,125

Future Minimum Lease Payments

As of June 30, 2024, future minimum lease payments for operating leases consisted of the following:

(dollar amounts in thousands)
2024			$	22,749
2025			59,014
2026			58,015
2027			53,810
2028			47,819
Thereafter			162,459
Total			$	403,866
Less: imputed interest			92,953
Total lease liabilities			$	310,913

X

- 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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X

- References

No definition available.

+ Details

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X

- 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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