Debt (Tables)
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6 Months Ended |
Jun. 25, 2026 |
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| Debt Disclosure [Abstract] |
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| Schedule of Long Term Debt |
The following table summarizes the Company’s long-term debt as of June 25, 2026 and December 25, 2025:
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dollars in thousands |
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Interest Rate Per Annum at June 25, 2026 |
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June 25, 2026 |
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December 25, 2025 |
| Credit Facilities: |
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| 2026 Term Loan Facility |
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5.64% |
Variable |
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$ |
200,000 |
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$ |
— |
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| 2016 Term Loan Facility |
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— |
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198,190 |
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| 2026 ABL Facility |
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4.77% |
Variable |
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— |
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— |
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| 2016 ABL Facility |
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— |
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— |
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Total outstanding borrowings |
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200,000 |
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198,190 |
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Less: unamortized discount and debt issuance costs |
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4,672 |
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1,972 |
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Total long-term debt |
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195,328 |
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196,218 |
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Less: current portion of long-term debt |
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1,500 |
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2,629 |
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Total long-term debt, less current portion |
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$ |
193,828 |
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$ |
193,589 |
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| Schedule of Maturities of Debt |
The following table summarizes scheduled maturities of the Company’s debt as of June 25, 2026:
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| in thousands |
Amount |
| Twenty-seven weeks ending December 31, 2026 |
$ |
1,000 |
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| 2027 |
1,500 |
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| 2028 |
2,000 |
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| 2029 |
2,000 |
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| 2030 |
2,000 |
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| Thereafter |
191,500 |
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| Total minimum debt payments |
$ |
200,000 |
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| Schedule of Components of Interest Expense |
Components of interest expense are as follows for the periods presented:
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Thirteen Weeks Ended |
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Twenty-six Weeks Ended |
| in thousands |
June 25, 2026 |
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June 26, 2025 |
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June 25, 2026 |
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June 26, 2025 |
Interest expense |
$ |
3,931 |
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$ |
4,227 |
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$ |
7,906 |
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$ |
8,551 |
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Less: |
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Interest income (1)
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5,674 |
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1,957 |
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7,724 |
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3,536 |
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Capitalized interest |
535 |
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1,194 |
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1,327 |
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2,391 |
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| Interest (income) expense, net |
$ |
(2,278) |
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$ |
1,076 |
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$ |
(1,145) |
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$ |
2,624 |
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(1)For the thirteen and twenty-six weeks ended June 25, 2026, the amount includes interest income related to the Company’s cash on hand and statutory interest on International Emergency Economic Powers Act (“IEEPA”) tariff refunds. For the thirteen and twenty-six weeks ended June 26, 2025, the amount includes interest income related to the Company’s cash on hand.
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| Schedule of Fair Value of Debt |
The estimated fair value and classification within the fair value hierarchy of the 2026 Term Loan Facility and 2016 Term Loan Facility was as follows as of June 25, 2026 and December 25, 2025, respectively:
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| in thousands |
Fair Value Hierarchy Classification |
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June 25, 2026 |
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December 25, 2025 |
| 2026 Term Loan Facility |
Level 3 |
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$ |
198,000 |
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$ |
— |
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| 2016 Term Loan Facility |
Level 3 |
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$ |
— |
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$ |
197,943 |
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