Quarterly report [Sections 13 or 15(d)]

Commitments and Contingencies (Tables)

v3.26.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 26, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense
The table below presents components of lease expense for operating leases within the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income:
Thirteen Weeks Ended
in thousands
Classification
 March 26, 2026 March 27, 2025
Fixed operating lease cost:
Selling, general and administrative expenses
 $ 53,430  $ 49,937 
Cost of sales 13,544  9,472 
Total fixed operating lease cost 66,974  59,409 
Variable lease cost (1):
Selling, general and administrative expenses
 21,815  22,101 
Cost of sales 2,232  1,651 
Total variable lease cost 24,047  23,752 
Total operating lease cost (2)
$ 91,021  $ 83,161 
(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 thirteen weeks ended March 26, 2026 and March 27, 2025.
Schedule of Future Minimum Lease Payments under Non Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases as of March 26, 2026 were as follows:
in thousands Amount
Forty weeks ending December 31, 2026 $ 197,965 
2027 263,880 
2028 244,970 
2029 230,877 
2030 210,926 
Thereafter 1,477,471 
Total minimum lease payments (1) (2)
2,626,089 
Less: amount of lease payments representing interest 815,595 
Present value of future minimum lease payments 1,810,494 
Less: current obligations under leases 160,523 
Long-term lease obligations $ 1,649,971 
(1)Future lease payments exclude approximately $22.2 million of legally binding minimum lease payments for operating leases signed but not yet commenced.
(2)Operating lease payments include $288.7 million related to options to extend lease terms that are reasonably certain of being exercised.