Leases (Tables)
|
6 Months Ended |
Jul. 04, 2026 |
|---|
| Leases [Abstract] |
|
| Summary of Lease Costs |
The following table summarizes lease costs for the thirteen weeks and twenty-six weeks ended July 4, 2026 and June 28, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended July 4, 2026 |
|
|
|
With Affiliates |
|
|
With Third Parties |
|
|
Total |
|
Lease cost |
|
|
|
|
|
|
|
|
|
Operating lease cost |
|
$ |
6,843 |
|
|
$ |
5,536 |
|
|
$ |
12,379 |
|
Short-term lease cost |
|
|
359 |
|
|
|
825 |
|
|
|
1,184 |
|
Variable lease cost |
|
|
257 |
|
|
|
1,459 |
|
|
|
1,716 |
|
Total lease cost |
|
$ |
7,459 |
|
|
$ |
7,820 |
|
|
$ |
15,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended June 28, 2025 |
|
|
|
With Affiliates |
|
|
With Third Parties |
|
|
Total |
|
Lease cost |
|
|
|
|
|
|
|
|
|
Operating lease cost |
|
$ |
4,089 |
|
|
$ |
5,810 |
|
|
$ |
9,899 |
|
Short-term lease cost |
|
|
1 |
|
|
|
3,683 |
|
|
|
3,684 |
|
Variable lease cost |
|
|
255 |
|
|
|
965 |
|
|
|
1,220 |
|
Total lease cost |
|
$ |
4,345 |
|
|
$ |
10,458 |
|
|
$ |
14,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twenty-six Weeks Ended July 4, 2026 |
|
|
|
With Affiliates |
|
|
With Third Parties |
|
|
Total |
|
Lease cost |
|
|
|
|
|
|
|
|
|
Operating lease cost |
|
$ |
14,325 |
|
|
$ |
11,417 |
|
|
$ |
25,742 |
|
Short-term lease cost |
|
|
708 |
|
|
|
897 |
|
|
|
1,605 |
|
Variable lease cost |
|
|
493 |
|
|
|
2,774 |
|
|
|
3,267 |
|
Total lease cost |
|
$ |
15,526 |
|
|
$ |
15,088 |
|
|
$ |
30,614 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Twenty-six Weeks Ended June 28, 2025 |
|
|
|
With Affiliates |
|
|
With Third Parties |
|
|
Total |
|
Lease cost |
|
|
|
|
|
|
|
|
|
Operating lease cost |
|
$ |
6,599 |
|
|
$ |
12,611 |
|
|
$ |
19,210 |
|
Short-term lease cost |
|
|
212 |
|
|
|
7,565 |
|
|
|
7,777 |
|
Variable lease cost |
|
|
443 |
|
|
|
2,480 |
|
|
|
2,923 |
|
Total lease cost |
|
$ |
7,254 |
|
|
$ |
22,656 |
|
|
$ |
29,910 |
|
|
| Summary of Other Lease Related Information |
The following table summarizes other lease related information as of and for the twenty-six week periods ended July 4, 2026 and June 28, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 4,
2026 |
|
|
|
With
Affiliates |
|
|
With Third
Parties |
|
|
Total |
|
Other information |
|
|
|
|
|
|
|
|
|
Cash paid for amounts included in the measurement of operating leases |
|
$ |
12,614 |
|
|
$ |
11,156 |
|
|
$ |
23,770 |
|
Right-of-use assets obtained in exchange for new operating lease liabilities |
|
$ |
— |
|
|
$ |
3,091 |
|
|
$ |
3,091 |
|
Right-of-use asset change due to lease termination |
|
$ |
(26,145 |
) |
|
$ |
— |
|
|
$ |
(26,145 |
) |
Weighted-average remaining lease term (in years) |
|
|
8.8 |
|
|
|
2.5 |
|
|
|
6.9 |
|
Weighted-average discount rate |
|
|
12.0 |
% |
|
|
6.3 |
% |
|
|
10.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
June 28,
2025 |
|
|
|
With
Affiliates |
|
|
With Third
Parties |
|
|
Total |
|
Other information |
|
|
|
|
|
|
|
|
|
Cash paid for amounts included in the measurement of operating leases |
|
$ |
6,661 |
|
|
$ |
13,218 |
|
|
$ |
19,879 |
|
Right-of-use assets obtained in exchange for new operating lease liabilities |
|
$ |
105,069 |
|
|
$ |
2,440 |
|
|
$ |
107,509 |
|
Right-of-use asset change due to lease termination |
|
$ |
— |
|
|
$ |
(6,721 |
) |
|
$ |
(6,721 |
) |
Future right-of-use asset change due to a lease signed with a future commencement date |
|
$ |
48,058 |
|
|
$ |
— |
|
|
$ |
48,058 |
|
Weighted-average remaining lease term (in years) |
|
|
7.9 |
|
|
|
2.7 |
|
|
|
6.0 |
|
Weighted-average discount rate |
|
|
10.3 |
% |
|
|
6.6 |
% |
|
|
9.2 |
% |
|
| Schedule of Future Minimum Lease Payments Under Operating Leases |
Future minimum lease payments under these operating leases as of July 4, 2026, are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
With Affiliates |
|
|
With Third Parties |
|
|
Total |
|
2026 (remaining) |
|
$ |
9,910 |
|
|
$ |
11,242 |
|
|
$ |
21,152 |
|
2027 |
|
|
18,841 |
|
|
|
16,874 |
|
|
|
35,715 |
|
2028 |
|
|
19,245 |
|
|
|
8,121 |
|
|
|
27,366 |
|
2029 |
|
|
19,176 |
|
|
|
4,209 |
|
|
|
23,385 |
|
2030 |
|
|
19,543 |
|
|
|
1,254 |
|
|
|
20,797 |
|
Thereafter |
|
|
89,722 |
|
|
|
193 |
|
|
|
89,915 |
|
Total required lease payments |
|
$ |
176,437 |
|
|
$ |
41,893 |
|
|
$ |
218,330 |
|
Less amounts representing interest |
|
|
|
|
|
|
|
|
(72,390 |
) |
Present value of lease liabilities |
|
|
|
|
|
|
|
$ |
145,940 |
|
|