SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 27, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS During the third quarter of 2026, the Company submitted and CBP accepted additional IEEPA refund claims of approximately $70 million, of which approximately $11 million has been received. Accordingly, the Company recorded a receivable of approximately $59 million related to the remaining accepted refund claims in July 2026. During the third quarter of 2026, the Company entered into lease agreements for a warehouse facility in Tracy, California to support distribution operations following the June 2026 fire at the Company’s prior Tracy distribution center. The lease agreements commenced in July 2026 and expire in March 2036 and April 2036, with an annual base rent of approximately $9 million in aggregate. As a result of these lease agreements, the Company recorded right-of-use assets and lease liabilities of approximately $68 million in July 2026. The Company has evaluated its unaudited condensed consolidated financial statements for subsequent events through August 5, 2026, the date the unaudited condensed consolidated financial statements were available to be issued. Based upon this evaluation, the Company did not identify any other subsequent events that would require adjustment or disclosure in the financial statements.
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