XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.23.1

NET INCOME PER SHARE | 9 Months Ended
--- | ---
Apr. 29, 2023
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME PER SHARE The Company has two classes of common stock. Class A common stock is entitled to cash dividends as declared 54% greater than those paid on Class B common stock. Shares of Class B common stock are convertible on a share-for-share basis for Class A common stock at any time. The Company utilizes the two-class method of computing and presenting net income per share. The two-class method is an earnings allocation formula that calculates basic and diluted net income per share for each class of common stock separately based on dividends declared and participation rights in undistributed earnings. Under the two-class method, Class A common stock is assumed to receive a 54% greater participation in undistributed earnings than Class B common stock, in accordance with the classes' respective dividend rights. Unvested share-based payment awards that contain nonforfeitable rights to dividends are treated as participating securities and therefore included in computing net income per share using the two-class method. Diluted net income per share for Class A common stock is calculated utilizing the if-converted method, which assumes the conversion of all shares of Class B common stock to Class A common stock on a share-for-share basis, as this method is more dilutive than the two-class method. Diluted net income per share for Class B common stock does not assume conversion of Class B common stock to shares of Class A common stock. The table below reconciles Net income (loss) to Net income available to Class A and Class B shareholders:
| 13 Weeks Ended |  | 39 Weeks Ended
| April 29, 2023 |  | April 30, 2022 |  | April 29, 2023 |  | April 30, 2022
Net income (loss) | $ | 11,017 |  |  | $ | (3,231) |  |  | $ | 34,422 |  |  | $ | 14,227 |
Distributed and allocated undistributed Net income (loss) to unvested restricted shareholders | 369 |  |  | (93) |  |  | 1,014 |  |  | 429 |
Net income available to Class A and Class B shareholders | $ | 10,648 |  |  | $ | (3,138) |  |  | $ | 33,408 |  |  | $ | 13,798 |
The tables below reconcile the numerators and denominators of basic and diluted Net income (loss) per share for all periods presented.
| 13 Weeks Ended |  | 39 Weeks Ended
| April 29, 2023 |  | April 29, 2023
| Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |
Net income (loss) allocated, basic | $ | 8,311 |  |  | $ | 2,336 |  |  | $ | 26,055 |  |  | $ | 7,354 |
Conversion of Class B to Class A shares | 2,336 |  |  | — |  |  | 7,354 |  |  | — |
Net income (loss) allocated, diluted | $ | 10,647 |  |  | $ | 2,336 |  |  | $ | 33,409 |  |  | $ | 7,354 |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding, basic | 9,863 |  |  | 4,294 |  |  | 9,863 |  |  | 4,294 |
Conversion of Class B to Class A shares | 4,294 |  |  | — |  |  | 4,294 |  |  | — |
Weighted average shares outstanding, diluted | 14,157 |  |  | 4,294 |  |  | 14,157 |  |  | 4,294 |
| 13 Weeks Ended |  | 39 Weeks Ended
| April 30, 2022 |  | April 30, 2022
| Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |
Net income allocated, basic | $ | (2,447) |  |  | $ | (691) |  |  | $ | 10,757 |  |  | $ | 3,041 |
Conversion of Class B to Class A shares | (691) |  |  | — |  |  | 3,041 |  |  | — |
Effect of share-based compensation on allocated net income | (19) |  |  | (14) |  |  | — |  |  | — |
Net income allocated, diluted | $ | (3,157) |  |  | $ | (705) |  |  | $ | 13,798 |  |  | $ | 3,041 |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding, basic | 9,876 |  |  | 4,294 |  |  | 9,871 |  |  | 4,294 |
Conversion of Class B to Class A shares | 4,294 |  |  | — |  |  | 4,294 |  |  | — |
Weighted average shares outstanding, diluted | 14,170 |  |  | 4,294 |  |  | 14,165 |  |  | 4,294 |
Outstanding stock options to purchase Class A shares of 90 and 102 were excluded from the calculation of diluted net income per share at April 29, 2023 and April 30, 2022, respectively, as a result of their anti-dilutive effect. In addition, 507 and 363 non-vested restricted Class A shares, which are considered participating securities, and their allocated net income were excluded from the diluted net income per share calculation at April 29, 2023 and April 30, 2022, respectively, due to their anti-dilutive effect.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration