v3.26.1
Segment Information
 9 Months Ended
Jun. 27, 2026
Segment Information [Abstract]  
Segment Information K. SEGMENT INFORMATION

 

The reportable segments were determined based on information reviewed by the Company’s CODM for operational decision-making purposes, and the segment information is prepared on the same basis that the CODM reviews such financial information. The Company operates one primary business segment, retail grocery sales (representing the aggregation of individual retail stores) and includes four categories of product sales: grocery, non-foods, perishables and fuel. The “All Other” segment includes the results of non-reportable segments, fluid dairy and shopping center rentals, which do not meet both quantitative and qualitative criteria as defined under ASC 280, Segment Reporting. Beginning in fiscal year 2025, expense allocation methodology changed to include direct and indirect costs associated with the shopping center rentals that were previously included in the retail segment. The results for the three and nine months ended June 28, 2025 were recast to be comparable. The CODM utilizes operating income to assess the Company’s operating performance and to make decisions about allocating resources to each segment. The CODM does not review assets in evaluating results. Therefore, such information is not provided. The Company’s President and Chief Executive Officer is the

CODM. The accounting policies are the same as those described in the summary of significant accounting policies. The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

See below for a reconciliation of net income (amounts in thousands):

Three Months Ended

Nine Months Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

Retail grocery revenue

Grocery (1)

$

468,291

$

478,310

$

1,460,286

$

1,447,893

Non-foods (2)

268,491

295,100

838,844

870,717

Perishables (3)

359,742

357,752

1,072,994

1,040,186

Fuel

213,596

161,829

513,661

456,263

Total retail grocery revenue

$

1,310,120

$

1,292,991

$

3,885,785

$

3,815,059

All other revenue

58,204

53,231

163,380

150,550

Total revenues from unaffiliated customers

$

1,368,324

$

1,346,222

$

4,049,165

$

3,965,609

Total retail grocery revenue

$

1,310,120

$

1,292,991

$

3,885,785

$

3,815,059

Less retail grocery expenses:

Merchandise costs (4)

994,047

981,124

2,943,707

2,917,519

Salary and wages

149,168

146,300

445,448

430,345

Insurance costs

15,429

14,752

42,384

41,957

Repair and maintenance

23,392

22,565

68,545

67,193

Bank charges

16,549

15,475

47,648

44,040

Depreciation and amortization

22,593

23,422

68,179

70,388

Utilities

15,002

14,505

45,993

45,610

Other retail grocery expenses (5)

42,964

42,067

128,787

126,413

Retail grocery operating income

$

30,976

$

32,782

$

95,094

$

71,595

Other operating income (6)

3,507

4,559

12,995

10,959

Other income

3,037

2,769

8,720

8,909

Interest expense

4,503

4,856

13,605

14,746

Taxes

7,118

9,056

24,909

18,824

Net income

$

25,899

$

26,199

$

78,295

$

57,893

  

(1)The “Grocery” category includes grocery, dairy, and frozen foods.

(2)The “Non-foods” category includes alcoholic beverages, tobacco, pharmacy, and health/beauty/cosmetic products.

(3)The “Perishables” category includes meat, produce, deli and bakery.

(4)Merchandise costs include product costs, net of discounts and allowances, warehousing, distribution and freight.

(5)Other retail grocery expenses include supplies, taxes and licenses, advertising, professional fees and other expenses.

(6)Other operating income includes operating income from shopping center rentals, fluid dairy and the gain or loss on the disposal of fixed assets.