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EARNINGS (LOSS) PER SHARE | 6 Months Ended
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Jun. 28, 2026
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | EARNINGS (LOSS) PER SHARE During the thirteen and twenty-six weeks ended June 28, 2026 and June 29, 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 |  | Twenty-six weeks ended
(dollar amounts in thousands) | June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
Net income (loss) | $ | (26,270) |  |  | $ | (23,158) |  |  | $ | 99,539 |  |  | $ | (48,197) |
Weighted-average common shares outstanding—basic | 118,898,524 |  |  | 117,827,054 |  |  | 118,803,299 |  |  | 117,566,164 |
Dilutive stock awards | — |  |  | — |  |  | 1,971,381 |  |  | — |
Weighted-average common shares outstanding—diluted | 118,898,524 |  |  | 117,827,054 |  |  | 120,774,680 |  |  | 117,566,164 |
Earnings (loss) per share—basic | $ | (0.22) |  |  | $ | (0.20) |  |  | $ | 0.84 |  |  | $ | (0.41) |
Earnings (loss) per share—diluted | $ | (0.22) |  |  | $ | (0.20) |  |  | $ | 0.82 |  |  | $ | (0.41) |
The Company excluded the following potential common shares from the computation of diluted earnings (loss) per share because including them would have had an anti-dilutive effect:
| Thirteen weeks ended |  | Twenty-six weeks ended
| June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
Options to purchase common stock | 14,638,022 |  |  | 13,792,250 |  |  | 10,677,571 |  |  | 13,792,250 |
Time-based vesting restricted stock units | 1,785,753 |  |  | 573,387 |  |  | 712,778 |  |  | 573,387 |
Performance stock units | 4,900,000 |  |  | 4,500,000 |  |  | 4,500,000 |  |  | 4,500,000 |
Contingently issuable stock | — |  |  | 250,000 |  |  | — |  |  | 250,000 |
Total common stock equivalents | 21,323,775 |  |  | 19,115,637 |  |  | 15,890,349 |  |  | 19,115,637 |

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