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LEASES (Tables)

9 Months Ended

Sep. 29, 2024

Leases [Abstract]

Components of Lease Cost

The components of lease cost for the thirteen and thirty-nine weeks ended September 29, 2024 and September 24, 2023 were as follows:

						Thirteen weeks ended												Thirty-nine weeks ended
(dollar amounts in thousands)			Classification			September 29, 2024						September 24, 2023						September 29, 2024						September 24, 2023
Operating lease cost			Occupancy and related expense General and administrative expense Pre-opening costs			$	13,092					$	12,061					$	38,240					$	35,931
Variable lease cost			Occupancy and related expense General and administrative expense			3,204						2,904						9,480						8,237
Short term lease cost			Occupancy and related expense General and administrative expense			232						98						462						318
Sublease income			General and administrative expense			—						—						—						(356)
Total lease cost						$	16,528					$	15,063					$	48,182					$	44,130

A summary of lease terms and discount rates for operating leases as of September 29, 2024 and December 31, 2023 is as follows:

			September 29, 2024						December 31, 2023
Weighted average remaining lease term (years):
Operating Leases			7.27						7.41
Weighted average discount rate:
Operating Leases			6.72		%				6.51		%

Supplemental cash flow information related to leases for the thirty-nine weeks ended September 29, 2024 and September 24, 2023:

			September 29, 2024						September 24, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases, net of lease incentives			$	32,138					$	31,189
Right of use assets obtained in exchange for lease obligations:
Operating leases			$	28,455					$	18,631

Future Minimum Lease Payments

As of September 29, 2024, future minimum lease payments for operating leases consisted of the following:

(dollar amounts in thousands)
2024			$	8,663
2025			60,301
2026			59,457
2027			55,261
2028			49,285
Thereafter			174,121
Total			$	407,088
Less: imputed interest			92,623
Total lease liabilities			$	314,465

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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Namespace Prefix:	us-gaap_
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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

+ Details

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