2024 Q4 Form 10-Q Financial Statement

#000157551524000172 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $1.946B
YoY Change 14.98%
Cost Of Revenue $1.205B
YoY Change 12.99%
Gross Profit $740.9M
YoY Change 18.36%
Gross Profit Margin 38.08%
Selling, General & Admin $580.3M
YoY Change 16.54%
% of Gross Profit 78.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.13M
YoY Change 2.92%
% of Gross Profit 4.88%
Operating Expenses $580.3M
YoY Change 9.1%
Operating Profit $122.5M
YoY Change 30.21%
Interest Expense $1.061M
YoY Change -149.58%
% of Operating Profit 0.87%
Other Income/Expense, Net
YoY Change
Pretax Income $123.5M
YoY Change 38.04%
Income Tax $31.90M
% Of Pretax Income 25.83%
Net Earnings $91.61M
YoY Change 36.05%
Net Earnings / Revenue 4.71%
Basic Earnings Per Share $0.91
Diluted Earnings Per Share $0.91
COMMON SHARES
Basic Shares Outstanding 99.99M shares 100.1M shares
Diluted Shares Outstanding 101.0M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $309.7M
YoY Change 19.34%
Cash & Equivalents $309.7M
Short-Term Investments
Other Short-Term Assets $29.38M
YoY Change -26.96%
Inventory $329.5M
Prepaid Expenses
Receivables $25.07M
Other Receivables $0.00
Total Short-Term Assets $693.6M
YoY Change 9.51%
LONG-TERM ASSETS
Property, Plant & Equipment $851.4M
YoY Change -56.81%
Goodwill $381.8M
YoY Change 0.01%
Intangibles $208.1M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $13.41M
YoY Change -1.64%
Total Long-Term Assets $2.892B
YoY Change 12.31%
TOTAL ASSETS
Total Short-Term Assets $693.6M
Total Long-Term Assets $2.892B
Total Assets $3.586B
YoY Change 11.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $198.2M
YoY Change 17.62%
Accrued Expenses $206.2M
YoY Change -44.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.147M
YoY Change 7.4%
Total Short-Term Liabilities $616.0M
YoY Change 14.45%
LONG-TERM LIABILITIES
Long-Term Debt $7.731M
YoY Change -95.8%
Other Long-Term Liabilities $37.56M
YoY Change -97.22%
Total Long-Term Liabilities $37.56M
YoY Change -97.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $616.0M
Total Long-Term Liabilities $37.56M
Total Liabilities $2.242B
YoY Change 5.11%
SHAREHOLDERS EQUITY
Retained Earnings $543.9M
YoY Change 73.29%
Common Stock $799.6M
YoY Change 5.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.343B
YoY Change
Total Liabilities & Shareholders Equity $3.586B
YoY Change 11.76%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $91.61M
YoY Change 36.05%
Depreciation, Depletion And Amortization $36.13M
YoY Change 2.92%
Cash From Operating Activities $209.1M
YoY Change 81.85%
INVESTING ACTIVITIES
Capital Expenditures $52.76M
YoY Change 2.17%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$52.76M
YoY Change 2.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -24.04M
YoY Change -75.59%
NET CHANGE
Cash From Operating Activities 209.1M
Cash From Investing Activities -52.76M
Cash From Financing Activities -24.04M
Net Change In Cash 132.2M
YoY Change -475.84%
FREE CASH FLOW
Cash From Operating Activities $209.1M
Capital Expenditures $52.76M
Free Cash Flow $156.3M
YoY Change 146.82%

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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
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us-gaap Share Based Compensation
ShareBasedCompensation
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DeferredIncomeTaxExpenseBenefit
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
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us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
4509000 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
1392000 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
214000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
520351000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
13032000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
125000000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
100000000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
840000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4729000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-250809000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
107855000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
295192000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
311725000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
253849000 usd
us-gaap Interest Paid Net
InterestPaidNet
4613000 usd
us-gaap Interest Paid Net
InterestPaidNet
10519000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
71290000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
64569000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
24972000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
28500000 usd
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 usd
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
18139000 usd
sfm Excise Tax Accrued On Repurchase Of Common Stock
ExciseTaxAccruedOnRepurchaseOfCommonStock
2777000 usd
sfm Excise Tax Accrued On Repurchase Of Common Stock
ExciseTaxAccruedOnRepurchaseOfCommonStock
1559000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
213705000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
301452000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
809000 usd
CY2024Q3 us-gaap Number Of Stores
NumberOfStores
428 store
CY2024Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 state
us-gaap Fiscal Period
FiscalPeriod
<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reports its results of operations on a 52- or 53-week fiscal calendar ending on the Sunday closest to December 31. The fiscal year ending December 29, 2024 (“fiscal year 2024”) and fiscal year 2023 are 52-week years. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years (in which the fourth quarter has 14 weeks).</span></div>
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10566000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10906000 usd
sfm Contract With Customer Liability Liabilities Incurred
ContractWithCustomerLiabilityLiabilitiesIncurred
1899000 usd
sfm Contract With Customer Liability Liabilities Incurred
ContractWithCustomerLiabilityLiabilitiesIncurred
1926000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3825000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4139000 usd
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8640000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8693000 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
7731000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
8685000 usd
CY2024Q3 sfm Long Term Debt And Finance Lease Liabilities Noncurrent
LongTermDebtAndFinanceLeaseLiabilitiesNoncurrent
7731000 usd
CY2023Q4 sfm Long Term Debt And Finance Lease Liabilities Noncurrent
LongTermDebtAndFinanceLeaseLiabilitiesNoncurrent
133685000 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.258
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.240
CY2024Q3 sfm Employee Service Share Based Compensation Tax Benefit Detriment From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitDetrimentFromExerciseOfStockOptions
1700000 usd
CY2023Q4 sfm Employee Service Share Based Compensation Tax Benefit Detriment From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitDetrimentFromExerciseOfStockOptions
1100000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.240
sfm Employee Service Share Based Compensation Tax Benefit Detriment From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitDetrimentFromExerciseOfStockOptions
6800000 usd
sfm Employee Service Share Based Compensation Tax Benefit Detriment From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitDetrimentFromExerciseOfStockOptions
4200000 usd
CY2023Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
831416 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1861453 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
5307759 shares
CY2023Q4 sfm Stock Repurchase Program Average Cost Per Share Acquired
StockRepurchaseProgramAverageCostPerShareAcquired
38.89
sfm Stock Repurchase Program Average Cost Per Share Acquired
StockRepurchaseProgramAverageCostPerShareAcquired
70.22
sfm Stock Repurchase Program Average Cost Per Share Acquired
StockRepurchaseProgramAverageCostPerShareAcquired
34.28
CY2023Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
32333000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
130708000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
181974000 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
65313000 usd
us-gaap Net Income Loss
NetIncomeLoss
300999000 usd
us-gaap Net Income Loss
NetIncomeLoss
208807000 usd
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101881000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100560000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102844000 shares
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.64
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.99
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.03
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
65313000 usd
us-gaap Net Income Loss
NetIncomeLoss
300999000 usd
us-gaap Net Income Loss
NetIncomeLoss
208807000 usd
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101881000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100560000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
102844000 shares
CY2023Q4 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
317000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
460000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
345000 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102703000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101469000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103758000 shares
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.01
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1945735000 usd
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1713282000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5138839000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6659000 usd
CY2023Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5270000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19925000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14731000 usd
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
454000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
567000 shares
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
317000 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
469000 shares
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
35698000 usd
CY2024Q3 us-gaap Goodwill
Goodwill
381800000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
381700000 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2024Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2023 sfm Number Of Store Closures
NumberOfStoreClosures
11 store
CY2023Q1 sfm Store Performance Capacity Rate
StorePerformanceCapacityRate
0.30
us-gaap Asset Impairment Charges
AssetImpairmentCharges
27800000 usd
CY2023 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
5900000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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