Leases (Tables)
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3 Months Ended |
Jun. 28, 2025 |
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| Leases |
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| Schedule of ROU assets and liabilities |
ROU assets and lease liabilities as of June 28, 2025 and March 29, 2025 consisted of the following: | | | | | | | | | | | | | June 28, 2025 | | March 29, 2025 | | | Balance Sheet Classification | | (in thousands) | | (in thousands) | Assets | | | | | | | | | Finance lease assets | | Right-of-use assets, net | | $ | 7,602 | | $ | 7,789 | Operating lease assets | | Right-of-use assets, net | | | 484,172 | | | 461,672 | Total lease assets | | | | $ | 491,774 | | $ | 469,461 | | | | | | | | | | Liabilities | | | | | | | | | Current | | | | | | | | | Finance | | Short-term lease liabilities | | $ | 967 | | $ | 948 | Operating | | Short-term lease liabilities | | | 75,881 | | | 71,913 | Total short-term lease liabilities | | | | $ | 76,848 | | $ | 72,861 | | | | | | | | | | Non-Current | | | | | | | | | Finance | | Long-term lease liabilities | | $ | 13,232 | | $ | 13,480 | Operating | | Long-term lease liabilities | | | 507,068 | | | 476,702 | Total long-term lease liabilities | | | | $ | 520,300 | | $ | 490,182 | Total lease liabilities | | | | $ | 597,148 | | $ | 563,043 |
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| Schedule of total lease cost |
Total lease costs for the thirteen weeks ended June 28, 2025 and June 29, 2024 were: | | | | | | | | | Thirteen Weeks Ended | (in thousands) | | June 28, 2025 | | June 29, 2024 | Finance lease cost | | | | | | | Amortization of right-of-use assets | | $ | 187 | | $ | 187 | Interest on lease liabilities | | | 152 | | | 162 | Total finance lease cost | | $ | 339 | | $ | 349 | | | | | | | | Operating lease cost | | $ | 25,136 | | $ | 21,422 | Short-term lease cost | | | 1,083 | | | 659 | Variable lease cost | | | 8,562 | | | 7,351 | Total lease cost | | $ | 35,120 | | $ | 29,781 |
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| Schedule of future operating lease payments |
The following table summarizes future lease payments as of June 28, 2025: | | | | | | | | | Operating Leases | | Finance Leases | Fiscal Year | | (in thousands) | | (in thousands) | 2026 (Remainder) | | $ | 64,670 | | | 1,171 | 2027 | | | 107,506 | | | 1,590 | 2028 | | | 97,403 | | | 1,629 | 2029 | | | 89,777 | | | 1,669 | 2030 | | | 80,937 | | | 1,709 | Thereafter | | | 280,861 | | | 9,517 | Total | | | 721,154 | | | 17,285 | Less: Imputed interest | | | (138,205) | | | (3,086) | Present value of net lease payments | | $ | 582,949 | | $ | 14,199 |
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| Schedule of future finance lease payments |
The following table summarizes future lease payments as of June 28, 2025: | | | | | | | | | Operating Leases | | Finance Leases | Fiscal Year | | (in thousands) | | (in thousands) | 2026 (Remainder) | | $ | 64,670 | | | 1,171 | 2027 | | | 107,506 | | | 1,590 | 2028 | | | 97,403 | | | 1,629 | 2029 | | | 89,777 | | | 1,669 | 2030 | | | 80,937 | | | 1,709 | Thereafter | | | 280,861 | | | 9,517 | Total | | | 721,154 | | | 17,285 | Less: Imputed interest | | | (138,205) | | | (3,086) | Present value of net lease payments | | $ | 582,949 | | $ | 14,199 |
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| Schedule of supplemental lease information |
The following table includes supplemental lease information: | | | | | | | | | | | Thirteen Weeks Ended | | Supplemental Cash Flow Information (dollars in thousands) | | June 28, 2025 | | | June 29, 2024 | | Cash paid for amounts included in the measurement of lease liabilities | | | | | | | | | Operating cash flows used for operating leases | | $ | 30,444 | | | $ | 21,387 | | Operating cash flows used for finance leases | | | 150 | | | | 160 | | Financing cash flows used for finance leases | | | 231 | | | | 212 | | | | $ | 30,825 | | | $ | 21,759 | | Lease liabilities arising from new right-of-use assets | | | | | | | | | Operating leases | | $ | 40,239 | | | $ | 35,201 | | Finance leases | | $ | — | | | $ | — | | | | | | | | | | | Weighted average remaining lease term (in years) | | | | | | | | | Operating leases | | | 7.8 | | | | 7.8 | | Finance leases | | | 10.2 | | | | 11.2 | | | | | | | | | | | Weighted average discount rate | | | | | | | | | Operating leases | | | 5.2 | % | | | 5.0 | % | Finance leases | | | 10.9 | % | | | 10.9 | % |
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