| Computation of Net Income (Loss) per Share, Basic |
The following table sets forth the computation of basic net income (loss) per share using the two-class method:
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Thirteen weeks ended |
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Thirty-nine weeks ended |
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September 26,
2026 |
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September 27,
2025 |
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September 26,
2026 |
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September 27,
2025 |
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(in thousands, except per share data) |
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(in thousands, except per share data) |
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Net income (loss) |
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$ |
43,166 |
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$ |
46,155 |
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|
$ |
(50,529 |
) |
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$ |
131,000 |
|
Allocation of net income (loss) for basic: |
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Class A Common Stock |
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$ |
34,329 |
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$ |
37,231 |
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$ |
(40,301 |
) |
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$ |
106,174 |
|
Class B Common Stock |
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|
8,706 |
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|
8,793 |
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(10,077 |
) |
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|
24,467 |
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Unvested participating shares |
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131 |
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131 |
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(151 |
) |
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|
359 |
|
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|
$ |
43,166 |
|
|
$ |
46,155 |
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|
$ |
(50,529 |
) |
|
$ |
131,000 |
|
Weighted average number of shares for basic: |
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Class A Common Stock |
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8,155 |
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8,756 |
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8,270 |
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|
8,974 |
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Class B Common Stock |
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2,068 |
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|
2,068 |
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|
2,068 |
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|
2,068 |
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Unvested participating shares |
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31 |
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31 |
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31 |
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31 |
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10,254 |
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10,855 |
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10,369 |
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|
11,073 |
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Net income (loss) per share for basic: |
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Class A Common Stock |
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$ |
4.21 |
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$ |
4.25 |
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$ |
(4.87 |
) |
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$ |
11.83 |
|
Class B Common Stock |
|
$ |
4.21 |
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|
$ |
4.25 |
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|
$ |
(4.87 |
) |
|
$ |
11.83 |
|
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| Computation of Net Income (Loss) per Share, Diluted |
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Thirteen weeks ended |
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September 26, 2026 |
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September 27, 2025 |
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Earnings to
Common
Shareholders |
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Common
Shares |
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|
EPS |
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Earnings to
Common
Shareholders |
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Common
Shares |
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|
EPS |
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(in thousands, except per share data) |
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As reported - Class A Common Stock - basic |
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$ |
34,329 |
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|
8,155 |
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$ |
4.21 |
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$ |
37,231 |
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|
|
8,756 |
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$ |
4.25 |
|
Class B Common Stock |
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|
8,706 |
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|
2,068 |
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|
8,793 |
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|
2,068 |
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Unvested participating shares (loss periods only) |
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— |
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— |
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— |
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— |
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Share-based awards - effect of dilutive common shares (income periods only) |
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— |
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1 |
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— |
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6 |
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Net earnings effect of unvested participating shares (income periods only) |
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— |
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— |
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— |
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— |
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Net income per common share -diluted |
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$ |
43,035 |
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|
|
10,224 |
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$ |
4.21 |
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$ |
46,024 |
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|
10,830 |
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$ |
4.25 |
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Thirty-nine weeks ended |
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September 26, 2026 |
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September 27, 2025 |
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Loss to
Common
Shareholders |
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|
Common
Shares |
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|
EPS |
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Earnings to
Common
Shareholders |
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|
Common
Shares |
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|
EPS |
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(in thousands, except per share data) |
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As reported - Class A Common Stock - basic |
|
$ |
(40,301 |
) |
|
|
8,270 |
|
|
$ |
(4.87 |
) |
|
$ |
106,174 |
|
|
|
8,974 |
|
|
$ |
11.83 |
|
Class B Common Stock |
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|
(10,077 |
) |
|
|
2,068 |
|
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|
24,467 |
|
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|
2,068 |
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Unvested participating shares (loss periods only) |
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|
(151 |
) |
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31 |
|
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|
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— |
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— |
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Share-based awards - effect of dilutive common shares (income periods only) |
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|
— |
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— |
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— |
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8 |
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Net earnings effect of unvested participating shares (income periods only) |
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— |
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— |
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— |
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— |
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Net (loss) income per common share -diluted |
|
$ |
(50,529 |
) |
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|
10,369 |
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|
$ |
(4.87 |
) |
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$ |
130,641 |
|
|
|
11,050 |
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$ |
11.82 |
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