Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.25.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 26, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense
The table below presents components of lease expense for operating leases.
Fiscal Year Ended
in thousands Classification December 26,
2024		 December 28,
2023		 December 29,
2022
Fixed operating lease cost: Selling and store operating $ 178,343  $ 157,106  $ 139,603 
Cost of sales 25,955  24,058  25,465 
Pre-opening 13,679  15,171  9,971 
General and administrative 4,119  4,161  4,622 
Total fixed operating lease cost $ 222,096  $ 200,496  $ 179,661 
Variable lease cost (1):
Selling and store operating $ 69,785  $ 57,527  $ 49,605 
Cost of sales 4,184  4,009  3,894 
Pre-opening 674  976  666 
General and administrative 2,024  1,420  787 
Total variable lease cost $ 76,667  $ 63,932  $ 54,952 
Sublease income Cost of sales (2,758) (2,722) (2,722)
Total operating lease cost (2)
$ 296,005  $ 261,706  $ 231,891 
(1)Includes variable costs for common area maintenance, property taxes, and insurance on leased real estate.
(2)Excludes short-term lease costs, which were immaterial for the fiscal years ended December 26, 2024, December 28, 2023, and December 29, 2022.
Schedule of Future Minimum Lease Payments Under Non Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases as of December 26, 2024 were as follows:
in thousands
Amount
2025 $ 220,563 
2026 215,662 
2027 204,385 
2028 183,446 
2029 170,959 
Thereafter
 1,156,957 
Total minimum lease payments (1) (2)
2,151,972 
Less: amount of lease payments representing interest
 662,044 
Present value of future minimum lease payments
 1,489,928 
Less: current obligations under leases
 138,646 
Long-term lease obligations
 $ 1,351,282 
(1)Future lease payments exclude approximately $444.9 million of legally binding minimum lease payments for operating leases signed but not yet commenced.
(2)Operating lease payments include $261.5 million related to options to extend lease terms that are reasonably certain of being exercised.