Share Repurchases |
6 Months Ended |
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Jun. 28, 2025 | |
| Equity [Abstract] | |
| Share Repurchases | Share Repurchases Concurrent share repurchase As part of the Offering, the Company purchased from the underwriters approximately 2.3 million shares of common stock at a price per share of $8.86 and a total cost of approximately $20.0 million, excluding excise tax. The Company funded the Concurrent Share Repurchase from its existing cash on hand and it was not part of its existing share repurchase program authorized in November 2023. Share repurchase authorization In November 2023, the Company authorized a share repurchase program of up to $50.0 million of the Company’s common stock. The share repurchase program does not obligate us to purchase any minimum number of shares, and the program may be suspended, modified, or discontinued at any time without prior notice. The timing, actual number and value of any additional shares purchased will depend on a variety of factors, including, but not limited to, the market price of the Company’s common stock, general business and market conditions, other investment opportunities, and applicable regulatory requirements. During the thirteen and twenty-six weeks ended June 28, 2025, the Company repurchased 0.4 million and 1.8 million shares, respectively, at a weighted average price of $8.17 and $8.37, respectively, and a total cost of $3.6 million and $15.3 million, respectively, excluding commissions and excise tax. During the thirteen and twenty-six weeks ended June 29, 2024, the Company repurchased 0.3 million shares at a weighted average price of $11.51 and a total cost of approximately $3.3 million, excluding commissions and excise tax. As of June 28, 2025, the Company had $2.8 million remaining under the share repurchase program.
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