Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income

v3.22.4
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 29, 2022
Dec. 30, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Net sales $ 4,264,473 $ 3,433,533 $ 2,425,788
Cost of sales 2,536,757 2,011,267 1,390,896
Gross profit 1,727,716 1,422,266 1,034,892
Operating expenses:      
Selling and store operating 1,078,466 849,440 654,100
General and administrative 213,848 199,401 144,715
Pre-opening 38,642 34,433 21,498
Total operating expenses 1,330,956 1,083,274 820,313
Operating income 396,760 338,992 214,579
Interest expense, net 11,138 4,924 8,389
Gain on early extinguishment of debt 0 0 (1,015)
Income before income taxes 385,622 334,068 207,205
Provision (benefit) for income taxes 87,427 50,838 12,224
Net income 298,195 283,230 194,981
Change in fair value of hedge instruments, net of tax 3,802 371 357
Total comprehensive income $ 301,997 $ 283,601 $ 195,338
Basic earnings per share (in dollars per share) $ 2.82 $ 2.71 $ 1.90
Diluted earnings per share (in dollars per share) $ 2.78 $ 2.64 $ 1.84