Quarterly report [Sections 13 or 15(d)]

Commitments and Contingencies (Tables)

v3.26.1
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 25, 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 Twenty-six Weeks Ended
in thousands
Classification
 June 25, 2026 June 26, 2025 June 25, 2026 June 26, 2025
Fixed operating lease cost:
Selling, general and administrative expenses
 $ 54,443  $ 50,183  $ 107,873  $ 100,120 
Cost of sales 13,804  12,818  27,348  22,290 
Total fixed operating lease cost 68,247  63,001  135,221  122,410 
Variable lease cost (1):
Selling, general and administrative expenses
 20,963  21,408  42,778  43,509 
Cost of sales 1,316  2,076  3,548  3,727 
Total variable lease cost 22,279  23,484  46,326  47,236 
Total operating lease cost (2)
$ 90,526  $ 86,485  $ 181,547  $ 169,646 
(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 and twenty-six weeks ended June 25, 2026 and June 26, 2025.
Schedule of Future Minimum Lease Payments under Non Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases as of June 25, 2026 were as follows:
in thousands Amount
Twenty-seven weeks ending December 31, 2026 $ 130,869 
2027 270,776 
2028 252,051 
2029 238,028 
2030 217,785 
Thereafter 1,516,886 
Total minimum lease payments (1) (2)
2,626,395 
Less: amount of lease payments representing interest 808,929 
Present value of future minimum lease payments 1,817,466 
Less: current obligations under leases 163,163 
Long-term lease obligations $ 1,654,303 
(1)Future lease payments exclude approximately $17.4 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.