Leases (Tables)
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6 Months Ended |
Jun. 28, 2025 |
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| Leases |
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| Schedule of operating leases and finance leases on the balance sheets |
Operating leases and a finance lease are included in the accompanying unaudited consolidated balance sheets in the following line items (in thousands): | | | | | | | June 28, | | December 28, | | 2025 | | 2024 | Right-of-use assets: | | | | | | Operating lease right-of-use assets | $ | 47,156 | | $ | 55,431 | Finance lease right-of-use assets | | 244 | | | 773 | Total lease right-of-use assets | $ | 47,400 | | $ | 56,204 | | | | | | | Operating lease liabilities: | | | | | | Current portion of operating lease liabilities | $ | 15,898 | | $ | 17,963 | Long-term operating lease liabilities, net of current portion | | 31,213 | | | 37,697 | Total operating lease liabilities | $ | 47,111 | | $ | 55,660 | | | | | | | Finance lease liabilities: | | | | | | Current portion of finance lease liabilities | $ | 183 | | $ | 726 | Long-term finance lease liabilities, net of current portion | | — | | | — | Total finance lease liabilities | $ | 183 | | $ | 726 |
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| Schedule of supplemental information related to leases |
The following table shows supplemental information related to leases (in thousands): | | | | | | | | | | | | | Thirteen Weeks Ended | | Twenty-six Weeks Ended | | June 28, | | June 29, | | June 28, | | June 29, | | 2025 | | 2024 | | 2025 | | 2024 | Operating cash flow information: | | | | | | | | | | | | Cash paid for amounts included in the measurement of operating lease liabilities | $ | 5,067 | | $ | 5,033 | | $ | 10,204 | | $ | 9,901 | Cash paid for amounts included in the measurement of finance lease liabilities | $ | 274 | | $ | 274 | | $ | 549 | | $ | 549 | | | | | | | | | | | | | The components of operating lease costs were as follows: | | | | | | | | | | | | Cost of goods sold | $ | 3,279 | | $ | 2,799 | | $ | 6,519 | | $ | 6,061 | Selling, general and administrative expenses | | 1,709 | | | 1,709 | | | 3,418 | | | 3,419 | Total operating lease costs | $ | 4,988 | | $ | 4,508 | | $ | 9,937 | | $ | 9,480 | | | | | | | | | | | | | The components of finance lease costs were as follows: | | | | | | | | | | | | Depreciation of finance right-of-use assets | $ | 264 | | $ | 265 | | $ | 528 | | $ | 529 | Interest on finance lease liabilities | | 1 | | | 8 | | | 5 | | | 18 | Total finance lease costs | $ | 265 | | $ | 273 | | $ | 533 | | $ | 547 | | | | | | | | | | | | | Total net lease costs | $ | 5,253 | | $ | 4,781 | | $ | 10,470 | | $ | 10,027 |
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| Schedule of weighted average remaining lease term and weighted average discount rate |
The following table shows the weighted average lease term and weighted average discount rate for our ROU assets: | | | | | | | June 28, | | December 28, | | 2025 | | 2024 | Weighted average remaining lease term (years) | | | | | | Operating leases | | 4.1 | | | 4.3 | Finance lease | | 0.2 | | | 0.7 | Weighted average discount rate | | | | | | Operating leases | | 3.77% | | | 3.77% | Finance lease | | 2.30% | | | 2.30% |
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| Future minimum lease payments under operating leases |
As of June 28, 2025, the maturities of lease liabilities were as follows (in thousands): | | | | | | | | | | Operating Leases | | Finance Lease | | Total Maturities of Lease Liabilities | Fiscal year: | | | | | | | | | 2025 remaining | $ | 9,694 | | $ | 183 | | $ | 9,877 | 2026 | | 14,400 | | | — | | | 14,400 | 2027 | | 9,726 | | | — | | | 9,726 | 2028 | | 8,076 | | | — | | | 8,076 | 2029 | | 3,513 | | | — | | | 3,513 | Thereafter | | 5,399 | | | — | | | 5,399 | Total undiscounted future minimum lease payments | | 50,808 | | | 183 | | | 50,991 | Less: Imputed interest | | (3,697) | | | — | | | (3,697) | Total present value of future lease liabilities | $ | 47,111 | | $ | 183 | | $ | 47,294 |
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| Future minimum lease payments under finance leases |
As of June 28, 2025, the maturities of lease liabilities were as follows (in thousands): | | | | | | | | | | Operating Leases | | Finance Lease | | Total Maturities of Lease Liabilities | Fiscal year: | | | | | | | | | 2025 remaining | $ | 9,694 | | $ | 183 | | $ | 9,877 | 2026 | | 14,400 | | | — | | | 14,400 | 2027 | | 9,726 | | | — | | | 9,726 | 2028 | | 8,076 | | | — | | | 8,076 | 2029 | | 3,513 | | | — | | | 3,513 | Thereafter | | 5,399 | | | — | | | 5,399 | Total undiscounted future minimum lease payments | | 50,808 | | | 183 | | | 50,991 | Less: Imputed interest | | (3,697) | | | — | | | (3,697) | Total present value of future lease liabilities | $ | 47,111 | | $ | 183 | | $ | 47,294 |
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