Investments, Equity Method and Joint Ventures |
6 Months Ended |
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Jun. 28, 2026 | |
| Equity Method Investments and Joint Ventures [Abstract] | |
| EQUITY INVESTMENT | EQUITY INVESTMENT As of June 28, 2026, the Company held 10,803,620 shares of Series C Preferred Stock of Wonder, received as partial consideration in connection with the Spyce sale (see Note 8). The Company holds a minority interest and does not have significant influence over Wonder. Wonder is a privately held company, and as such, the preferred shares comprising the Company’s investment are illiquid and fair value is not readily determinable. The Company accounts for this investment at cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. During the second quarter of fiscal year 2026, Wonder completed an equity financing through the sale and issuance of a new series of its preferred stock (the “Wonder Financing”). The Company evaluated the transaction and determined that the securities issued in connection with the Wonder Financing are not similar to the Company's holdings due to significant differences in liquidation preference and conversion rights, and any adjustment based on the Wonder Financing would require a complex valuation dependent on unobservable inputs. Accordingly, the Wonder Financing did not represent an observable price change for an identical or similar investment, and no adjustment to the carrying amount was recorded. For both the thirteen and twenty-six weeks ended June 28, 2026, no adjustments have been recognized related to the investment. The investment is included within equity investments on the condensed consolidated balance sheets with a carrying value of $86.4 million as of June 28, 2026.
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