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Leases (Tables)
9 Months Ended
Mar. 28, 2024
Leases [Abstract]  
Supplemental information related to operating lease right-of-use assets and liabilities

The following table provides supplemental information related to operating lease right-of-use assets and liabilities:

 

March 28,
2024

 

 

June 29,
2023

 

 

March 30,
2023

 

 

Affected Line Item in Consolidated Balance Sheets

Assets

 

 

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

$

7,409

 

 

$

6,427

 

 

$

6,582

 

 

Operating lease right-of-use assets

Total lease right-of-use assets

$

7,409

 

 

$

6,427

 

 

$

6,582

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

 

Operating leases

$

1,872

 

 

$

1,729

 

 

$

1,752

 

 

Other accrued expenses

Noncurrent:

 

 

 

 

 

 

 

 

 

 

Operating leases

 

5,553

 

 

 

4,771

 

 

 

4,905

 

 

Long-term operating lease liabilities

Total lease liabilities

$

7,425

 

 

$

6,500

 

 

$

6,657

 

 

 

Summary of company's total lease costs and other information arising from operating lease transactions

The following tables summarize the Company’s total lease costs and other information arising from operating lease transactions:

 

 

For the Quarter Ended

 

 

For the Thirty-Nine Weeks Ended

 

 

March 28,
2024

 

 

March 30,
2023

 

 

March 28,
2024

 

 

March 30,
2023

 

Operating lease costs (a)

 

$

847

 

 

$

529

 

 

$

2,236

 

 

$

1,544

 

Variable lease costs (b)

 

 

34

 

 

 

74

 

 

 

(107

)

 

 

189

 

Total lease cost

 

$

881

 

 

$

603

 

 

$

2,129

 

 

$

1,733

 

 

(a)
Includes short-term leases which are immaterial.
(b)
Variable lease costs consist of sales tax and lease overtime charges.
Summary of Supplemental cash flow and other information related to leases

Supplemental cash flow and other information related to leases was as follows:

 

 

For the Thirty-Nine Weeks Ended

 

 

March 28,
2024

 

 

March 30,
2023

 

Operating cash flows information:

 

 

 

 

 

 

Cash paid for amounts included in measurements for lease liabilities

 

$

1,827

 

 

$

1,249

 

 

 

 

 

 

 

 

Non-cash activity:

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease obligations

 

$

2,350

 

 

$

5,458

 

Summary of other information

 

March 28,
2024

 

 

June 29,
2023

 

 

March 30,
2023

 

Weighted average remaining lease term (in years)

 

 

4.2

 

 

 

4.4

 

 

 

4.6

 

Weighted average discount rate

 

 

6.9

%

 

 

6.7

%

 

 

6.6

%

 

Summary of maturities of operating lease liabilities

Maturities of operating lease liabilities as of March 28, 2024 are as follows:

 

Fiscal Year Ending

 

 

 

June 27, 2024 (excluding the thirty-nine weeks ended March 28, 2024)

 

$

640

 

June 26, 2025

 

 

2,199

 

June 25, 2026

 

 

1,988

 

June 24, 2027

 

 

1,695

 

June 29, 2028

 

 

1,512

 

June 28, 2029

 

 

496

 

Thereafter

 

 

 

Total lease payment

 

 

8,530

 

Less imputed interest

 

 

(1,105

)

Present value of operating lease liabilities

 

$

7,425

 

Summary of operating lease revenue

Leasing revenue is as follows:

 

 

For the Quarter Ended

 

 

For the Thirty-Nine Weeks Ended

 

 

March 28,
2024

 

 

March 30,
2023

 

 

March 28,
2024

 

 

March 30,
2023

 

Lease income related to lease payments

 

$

490

 

 

$

419

 

 

$

1,467

 

 

$

1,224

 

Undiscounted fixed lease consideration under non-cancelable tenant operating leases

The future minimum, undiscounted fixed cash flows under non-cancelable tenant operating leases for each of the next five years and thereafter are as follows:

 

Fiscal Year Ending

 

 

 

June 27, 2024 (excluding the thirty-nine weeks ended March 28, 2024)

 

$

511

 

June 26, 2025

 

 

1,477

 

June 25, 2026

 

 

972

 

June 24, 2027

 

 

930

 

June 29, 2028

 

 

328

 

June 28, 2029

 

 

336

 

Thereafter

 

 

1,478

 

 

$

6,032