Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.22.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jul. 01, 2021
Jun. 30, 2022
Jul. 01, 2021
Income Statement [Abstract]        
Net sales $ 1,089,846 $ 860,108 $ 2,118,580 $ 1,642,645
Cost of sales 653,564 494,670 1,274,240 940,274
Gross profit 436,282 365,438 844,340 702,371
Operating expenses:        
Selling and store operating 268,202 205,072 517,702 395,018
General and administrative 53,107 52,819 107,752 96,860
Pre-opening 8,563 8,990 18,504 15,987
Total operating expenses 329,872 266,881 643,958 507,865
Operating income 106,410 98,557 200,382 194,506
Interest expense, net 1,672 1,293 2,834 2,681
Income before income taxes 104,738 97,264 197,548 191,825
Provision for income taxes 22,906 14,348 44,765 33,113
Net income 81,832 82,916 152,783 158,712
Change in fair value of hedge instruments, net of tax 822 (7) 2,376 76
Total comprehensive income $ 82,654 $ 82,909 $ 155,159 $ 158,788
Basic earnings per share (in dollars per share) $ 0.78 $ 0.79 $ 1.45 $ 1.52
Diluted earnings per share (in dollars per share) $ 0.76 $ 0.77 $ 1.42 $ 1.48