Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income

v3.24.0.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 28, 2023
Dec. 29, 2022
Dec. 30, 2021
Income Statement [Abstract]      
Net sales $ 4,413,884 $ 4,264,473 $ 3,433,533
Cost of sales 2,555,536 2,536,757 2,011,267
Gross profit 1,858,348 1,727,716 1,422,266
Operating expenses:      
Selling and store operating 1,239,225 1,078,466 849,440
General and administrative 252,713 213,848 199,401
Pre-opening 44,982 38,642 34,433
Total operating expenses 1,536,920 1,330,956 1,083,274
Operating income 321,428 396,760 338,992
Interest expense, net 9,897 11,138 4,924
Income before income taxes 311,531 385,622 334,068
Income tax expense 65,551 87,427 50,838
Net income 245,980 298,195 283,230
Change in fair value of hedge instruments, net of tax (2,915) 3,802 371
Total comprehensive income $ 243,065 $ 301,997 $ 283,601
Basic earnings per share (in dollars per share) $ 2.31 $ 2.82 $ 2.71
Diluted earnings per share (in dollars per share) $ 2.28 $ 2.78 $ 2.64