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LEASES | 12 Months Ended
--- | ---
Jul. 26, 2025
Leases [Abstract] |
LEASES | LEASES Description of leasing arrangements The Company leases 28 retail stores, as well as a commissary, the corporate headquarters and equipment at July 26, 2025. The majority of initial lease terms range from 20 to 30 years. Most of the Company’s leases contain renewal options at increased rents of five years each at the Company’s sole discretion. These options enable Village to retain the use of facilities in desirable operating areas. The composition of total lease cost is as follows:
|  |  | Years ended
| Consolidated Statement of Operations Classification |  | July 26, 2025 |  | July 27, 2024
Operating lease cost | Operating and administrative expense |  | $ | 36,075 |  |  | $ | 36,989 |
Finance lease cost |  |  |  |  |
Amortization of leased assets | Depreciation and amortization |  | 947 |  |  | 947 |
Interest on lease liabilities | Interest expense |  | 1,719 |  |  | 1,802 |
Variable lease cost | Operating and administrative expense |  | 21,423 |  |  | 22,044 |
Total lease cost |  |  | $ | 60,164 |  |  | $ | 61,782 |
As of July 26, 2025 and July 27, 2024, finance lease right-of-use assets of $9,017 and $9,964, respectively, are included in property, equipment and fixtures, net in the Company's consolidated balance sheet. Maturities of operating and finance lease liabilities, including options to extend lease terms that are reasonably certain of being exercised. The Company's lease liabilities mature as follows as of July 26, 2025:
|  | Operating leases |  | Finance leases |  | Total
2026 |  | $ | 32,966 |  |  | $ | 2,657 |  |  | $ | 35,623 |
2027 |  | 35,540 |  |  | 2,893 |  |  | 38,433 |
2028 |  | 34,143 |  |  | 2,893 |  |  | 37,036 |
2029 |  | 33,008 |  |  | 2,893 |  |  | 35,901 |
2030 |  | 31,324 |  |  | 3,046 |  |  | 34,370 |
Thereafter |  | 179,631 |  |  | 14,461 |  |  | 194,092 |
Total lease payments |  | 346,612 |  |  | 28,843 |  |  | 375,455 |
Less amount representing interest |  | 83,811 |  |  | 9,563 |  |  | 93,374 |
Present value of lease liabilities |  | $ | 262,801 |  |  | $ | 19,280 |  |  | $ | 282,081 |
The Company has no future payment obligations related to lease agreements that have not yet commenced but have been executed as of July 26, 2025. As of July 26, 2025, the Company's lease terms and discount rates are as follows:
| July 26, 2025 |  | July 27, 2024
Weighted-average remaining lease term (years) |  |  |
Operating leases | 12.1 |  | 12.0
Finance leases | 10.6 |  | 11.5
Weighted-average discount rate |  |  |
Operating leases | 4.5 | % |  | 4.3 | %
Finance leases | 8.6 | % |  | 8.5 | %
Supplemental cash flow information related to leases is as follows:
|  | Years ended
|  | July 26, 2025 |  | July 27, 2024
Cash paid for amounts in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 35,303 |  |  | $ | 35,618 |
Operating cash flows from finance leases |  | 1,719 |  |  | 1,802 |
Financing cash flows from finance leases |  | 1,138 |  |  | 887 |
Lease obligations obtained in exchange for right-of-use assets (non-cash) |  | 13,918 |  |  | 12,727 |
Related party leases The Company leases a supermarket from a realty firm 30% owned by certain Village officers and members of the Board of Directors. The Company paid rent to related parties under this lease of $735 in both fiscal 2025 and 2024, and has a related lease obligation of $425 at July 26, 2025. This lease expires in fiscal 2026 with options to extend at increasing annual rent. The Company has ownership interests in four real estate partnerships. Village paid aggregate rents to three of these partnerships for leased stores of $2,159 and $1,827 in fiscal 2025 and 2024, respectively, and has related aggregate lease obligations of $15,050 at July 26, 2025. One of these partnerships is a variable interest entity, which is not consolidated as Village is not the primary beneficiary. This partnership owns one property, a stand-alone supermarket leased to the Company since 1974. Village is a general partner entitled to 33% of the partnership's profits and losses.
LEASES | LEASES Description of leasing arrangements The Company leases 28 retail stores, as well as a commissary, the corporate headquarters and equipment at July 26, 2025. The majority of initial lease terms range from 20 to 30 years. Most of the Company’s leases contain renewal options at increased rents of five years each at the Company’s sole discretion. These options enable Village to retain the use of facilities in desirable operating areas. The composition of total lease cost is as follows:
|  |  | Years ended
| Consolidated Statement of Operations Classification |  | July 26, 2025 |  | July 27, 2024
Operating lease cost | Operating and administrative expense |  | $ | 36,075 |  |  | $ | 36,989 |
Finance lease cost |  |  |  |  |
Amortization of leased assets | Depreciation and amortization |  | 947 |  |  | 947 |
Interest on lease liabilities | Interest expense |  | 1,719 |  |  | 1,802 |
Variable lease cost | Operating and administrative expense |  | 21,423 |  |  | 22,044 |
Total lease cost |  |  | $ | 60,164 |  |  | $ | 61,782 |
As of July 26, 2025 and July 27, 2024, finance lease right-of-use assets of $9,017 and $9,964, respectively, are included in property, equipment and fixtures, net in the Company's consolidated balance sheet. Maturities of operating and finance lease liabilities, including options to extend lease terms that are reasonably certain of being exercised. The Company's lease liabilities mature as follows as of July 26, 2025:
|  | Operating leases |  | Finance leases |  | Total
2026 |  | $ | 32,966 |  |  | $ | 2,657 |  |  | $ | 35,623 |
2027 |  | 35,540 |  |  | 2,893 |  |  | 38,433 |
2028 |  | 34,143 |  |  | 2,893 |  |  | 37,036 |
2029 |  | 33,008 |  |  | 2,893 |  |  | 35,901 |
2030 |  | 31,324 |  |  | 3,046 |  |  | 34,370 |
Thereafter |  | 179,631 |  |  | 14,461 |  |  | 194,092 |
Total lease payments |  | 346,612 |  |  | 28,843 |  |  | 375,455 |
Less amount representing interest |  | 83,811 |  |  | 9,563 |  |  | 93,374 |
Present value of lease liabilities |  | $ | 262,801 |  |  | $ | 19,280 |  |  | $ | 282,081 |
The Company has no future payment obligations related to lease agreements that have not yet commenced but have been executed as of July 26, 2025. As of July 26, 2025, the Company's lease terms and discount rates are as follows:
| July 26, 2025 |  | July 27, 2024
Weighted-average remaining lease term (years) |  |  |
Operating leases | 12.1 |  | 12.0
Finance leases | 10.6 |  | 11.5
Weighted-average discount rate |  |  |
Operating leases | 4.5 | % |  | 4.3 | %
Finance leases | 8.6 | % |  | 8.5 | %
Supplemental cash flow information related to leases is as follows:
|  | Years ended
|  | July 26, 2025 |  | July 27, 2024
Cash paid for amounts in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 35,303 |  |  | $ | 35,618 |
Operating cash flows from finance leases |  | 1,719 |  |  | 1,802 |
Financing cash flows from finance leases |  | 1,138 |  |  | 887 |
Lease obligations obtained in exchange for right-of-use assets (non-cash) |  | 13,918 |  |  | 12,727 |
Related party leases The Company leases a supermarket from a realty firm 30% owned by certain Village officers and members of the Board of Directors. The Company paid rent to related parties under this lease of $735 in both fiscal 2025 and 2024, and has a related lease obligation of $425 at July 26, 2025. This lease expires in fiscal 2026 with options to extend at increasing annual rent. The Company has ownership interests in four real estate partnerships. Village paid aggregate rents to three of these partnerships for leased stores of $2,159 and $1,827 in fiscal 2025 and 2024, respectively, and has related aggregate lease obligations of $15,050 at July 26, 2025. One of these partnerships is a variable interest entity, which is not consolidated as Village is not the primary beneficiary. This partnership owns one property, a stand-alone supermarket leased to the Company since 1974. Village is a general partner entitled to 33% of the partnership's profits and losses.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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