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BUSINESS ACQUISITION (Tables) | 12 Months Ended
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Jul. 25, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes how the purchase price has been allocated to the assets acquired and liabilities assumed at the date of acquisition.
| May 14, 2020
ASSETS |
Current Assets |
Cash and cash equivalents | $ | 257 |
Merchandise inventories | 5,390 |
Other current assets | 247 |
Total current assets | $ | 5,894 |
Property, equipment and fixtures, net | $ | 37,006 |
Operating lease assets | 218,326 |
Trade name intangible asset | 14,200 |
Other assets | 271 |
Total assets | $ | 275,697 |
LIABILITIES |
Accrued wages and benefits | $ | 623 |
Operating lease obligations | 212,735 |
Total liabilities | $ | 213,358 |
Total Net Assets Acquired | $ | 62,339 |
Goodwill | 11,540 |
Total Purchase Price | $ | 73,879 |
The following table summarizes how the purchase price has been allocated to the assets acquired and liabilities assumed at the date of acquisition:
| June 24, 2019
ASSETS |
Current Assets |
Cash and cash equivalents | $ | 24 |
Merchandise inventories | 564 |
Other current assets | 49 |
Total current assets | $ | 637 |
Property, equipment and fixtures, net | $ | 3,475 |
Trade name intangible asset | 1,485 |
Other assets | 255 |
Total assets | $ | 5,852 |
LIABILITIES |
Total current liabilities | $ | 1,154 |
Total Net Assets Acquired | $ | 4,698 |
Goodwill | 593 |
Total Purchase Price | $ | 5,291 |
Pro Forma Information | The unaudited pro forma financial information in the table below is not necessarily indicative of the results that would have occurred had the Fairway locations been acquired at the beginning of fiscal year 2019.
| Years ended |  |
| July 25, 2020 |  | July 27, 2019
Sales | $ | 2,034,163 |  |  | $ | 1,934,426 |
Net Income | 30,313 |  |  | 36,594 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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