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EARNINGS (LOSS) PER SHARE | 3 Months Ended
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Mar. 29, 2026
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | EARNINGS (LOSS) PER SHARE During the thirteen weeks ended March 29, 2026 and March 30, 2025, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net earnings (loss) per share attributable to common stockholders were, therefore, the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of earnings (loss) per common share:
| Thirteen weeks ended |  |
(dollar amounts in thousands) | March 29, 2026 |  | March 30, 2025 |  |  |  |
Net income (loss) | $ | 125,809 |  |  | $ | (25,039) |  |  |  |  |
Weighted-average common shares outstanding—basic | 118,664,898 |  |  | 117,307,189 |  |  |  |  |
Dilutive stock awards | 1,562,315 |  |  | — |  |  |  |  |
Weighted-average common shares outstanding—diluted | 120,227,213 |  |  | 117,307,189 |  |  |  |  |
Earnings (loss) per share—basic | $ | 1.06 |  |  | $ | (0.21) |  |  |  |  |
Earnings (loss) per share—diluted | $ | 1.05 |  |  | $ | (0.21) |  |  |  |  |
The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted earnings (loss) per share because including them would have had an anti-dilutive effect:
| Thirteen weeks ended |  |
| March 29, 2026 |  | March 30, 2025 |  |  |  |
Options to purchase common stock | 10,652,168 |  |  | 14,099,610 |  |  |  |  |
Time-based vesting restricted stock units | 589,982 |  |  | 737,201 |  |  |  |  |
Performance stock units | 4,500,000 |  |  | 4,500,000 |  |  |  |  |
Contingently issuable stock | — |  |  | 500,000 |  |  |  |  |
Total common stock equivalents | 15,742,150 |  |  | 19,836,811 |  |  |  |  |

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