Leases (Tables)
|
9 Months Ended |
May 31, 2025 |
Leases [Abstract] |
|
Lease, Cost |
The components of lease expense were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Thirteen Weeks Ended | | Thirty-Nine Weeks Ended | (In thousands) | | Statements of Operations Caption | | May 31, 2025 | | May 25, 2024 | | May 31, 2025 | | May 25, 2024 | Operating lease cost: | | | | | | | | | | | Lease cost | | Cost of goods sold and General and administrative | | $ | 2,504 | | | $ | 2,256 | | | $ | 6,923 | | | $ | 6,770 | | Variable lease cost (1) | | Cost of goods sold and General and administrative | | 912 | | | 1,049 | | | 2,970 | | | 2,799 | | Total operating lease cost | | | | 3,416 | | | 3,305 | | | 9,893 | | | 9,569 | | | | | | | | | | | | | | | | | | | | | | | | Finance lease cost: | | | | | | | | | | | Amortization of right-of-use assets | | Cost of goods sold | | — | | | 18 | | | — | | | 123 | | Interest on lease liabilities | | Interest expense | | — | | | — | | | — | | | 2 | | Total finance lease cost | | | | — | | | 18 | | | — | | | 125 | | | | | | | | | | | | | Total lease cost | | | | $ | 3,416 | | | $ | 3,323 | | | $ | 9,893 | | | $ | 9,694 | | (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. |
|
Lease assets and liabilities |
The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows:
| | | | | | | | | | | | | | | | | | | | | (In thousands) | | Balance Sheets Caption | | May 31, 2025 | | August 31, 2024 | Assets | | | | | | | Operating lease right-of-use assets | | Other long-term assets | | $ | 45,785 | | | $ | 35,097 | | | | | | | | | Total lease assets | | | | $ | 45,785 | | | $ | 35,097 | | Liabilities | | | | | | | Current: | | | | | | | Operating lease liabilities | | Accrued expenses and other current liabilities | | $ | 4,386 | | | $ | 5,494 | | | | | | | | | Long-term: | | | | | | | Operating lease liabilities | | Other long-term liabilities | | 51,427 | | | 34,330 | | | | | | | | | Total lease liabilities | | | | $ | 55,813 | | | $ | 39,824 | |
|
Finance Lease, Liability, Maturity |
Future maturities of lease liabilities as of May 31, 2025, were as follows:
| | | | | | | | | (In thousands) | | Operating Leases | Fiscal year ending: | | | Remainder of 2025 | | $ | 1,084 | | 2026 | | 9,207 | | 2027 | | 10,927 | | 2028 | | 10,388 | | 2029 | | 10,438 | | Thereafter | | 26,696 | | Total lease payments | | 68,740 | | Less: Interest | | (12,927) | | Present value of lease liabilities | | $ | 55,813 | |
|
Lessee, Operating Lease, Liability, Maturity |
Future maturities of lease liabilities as of May 31, 2025, were as follows:
| | | | | | | | | (In thousands) | | Operating Leases | Fiscal year ending: | | | Remainder of 2025 | | $ | 1,084 | | 2026 | | 9,207 | | 2027 | | 10,927 | | 2028 | | 10,388 | | 2029 | | 10,438 | | Thereafter | | 26,696 | | Total lease payments | | 68,740 | | Less: Interest | | (12,927) | | Present value of lease liabilities | | $ | 55,813 | |
|
Schedule of Weighted Average Remaining Lease Terms |
The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows:
| | | | | | | | | | | | | | | | | May 31, 2025 | | August 31, 2024 | Weighted-average remaining lease term (in years) | | | | | Operating leases | | 6.58 | | 6.50 | | | | | | Weighted-average discount rate | | | | | Operating leases | | 6.0 | % | | 5.1 | % | | | | | |
|
Schedule of Supplemental Cash Flow Information Related to Leases |
Supplemental and other information related to leases was as follows:
| | | | | | | | | | | | | | | | | Thirty-Nine Weeks Ended | (In thousands) | | May 31, 2025 | | May 25, 2024 | Cash paid for amounts included in the measurement of lease liabilities | | | | | Operating cash flows from operating leases | | $ | 7,925 | | | $ | 9,141 | | Operating cash flows from finance leases | | $ | — | | | $ | 539 | | Financing cash flows from finance leases | | $ | — | | | $ | 143 | |
|