| Gift Cards |
4. Gift Cards The following tables present information related to gift cards (in thousands): | | | | | | | | | | | | | | | Thirteen | | Thirteen | | Twenty-Six | | Twenty-Six | | | Weeks Ended | | Weeks Ended | | Weeks Ended | | Weeks Ended | | | July 1, 2025 | | July 2, 2024 | | July 1, 2025 | | July 2, 2024 | Gift card liabilities: | | | | | | | | | | | | | Beginning balance | | $ | 199,855 | | $ | 196,236 | | $ | 226,810 | | $ | 222,915 | Activations | | | 29,471 | | | 28,074 | | | 50,144 | | | 48,642 | Redemptions and breakage | | | (33,033) | | | (31,966) | | | (80,661) | | | (79,213) | Ending balance | | $ | 196,293 | | $ | 192,344 | | $ | 196,293 | | $ | 192,344 |
| | | | | | | | | | | | | | | Thirteen | | Thirteen | | Twenty-Six | | Twenty-Six | | | Weeks Ended | | Weeks Ended | | Weeks Ended | | Weeks Ended | | | July 1, 2025 | | July 2, 2024 | | July 1, 2025 | | July 2, 2024 | Gift card contract assets: | | | | | | | | | | | | | Beginning balance | | $ | 17,080 | | $ | 17,598 | | $ | 18,447 | | $ | 19,111 | Deferrals | | | 2,833 | | | 3,135 | | | 5,201 | | | 5,559 | Amortization | | | (3,624) | | | (3,833) | | | (7,359) | | | (7,770) | Ending balance | | $ | 16,289 | | $ | 16,900 | | $ | 16,289 | | $ | 16,900 |
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