DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION | 3 Months Ended | ||
Oct. 25, 2014 | Dec. 03, 2014 | Dec. 03, 2014 | |
Common Class A [Member] | Common Class B [Member] | ||
Entity Registrant Name | 'VILLAGE SUPER MARKET INC | ' | ' |
Entity Central Index Key | '0000103595 | ' | ' |
Current Fiscal Year End Date | '--07-25 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Document Type | '10-Q | ' | ' |
Document Period End Date | 25-Oct-14 | ' | ' |
Document Fiscal Year Focus | '2015 | ' | ' |
Document Fiscal Period Focus (Q1,Q2,Q3,FY) | 'Q1 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 9,696,583 | 4,360,998 |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
CONSOLIDATED_CONDENSED_BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS (USD $) | Oct. 25, 2014 | Jul. 26, 2014 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $69,262 | $77,352 |
Merchandise inventories | 45,227 | 44,694 |
Patronage dividend receivable | 17,216 | 12,923 |
Deferred tax assets | 12,548 | 12,077 |
Other current assets | 14,208 | 15,740 |
Total current assets | 158,461 | 162,786 |
Property, equipment and fixtures, net | 204,285 | 206,720 |
Note receivable from Wakefern | 41,008 | 40,598 |
Investment in Wakefern | 25,750 | 25,012 |
Goodwill | 12,057 | 12,057 |
Other assets | 9,292 | 10,239 |
Total assets | 450,853 | 457,412 |
Current liabilities | ' | ' |
Capital and financing lease obligations | 358 | 231 |
Notes payable to Wakefern | 1,256 | 667 |
Accounts payable to Wakefern | 60,668 | 66,004 |
Accounts payable and accrued expenses | 13,103 | 15,859 |
Accrued wages and benefits | 15,771 | 18,856 |
Income taxes payable | 46,059 | 44,387 |
Total current liabilities | 137,215 | 146,004 |
Long-term Debt | ' | ' |
Capital and financing lease obligations | 44,055 | 44,168 |
Notes payable to Wakefern | 1,051 | 1,074 |
Total long-term debt | 45,106 | 45,242 |
Pension liabilities | 24,576 | 23,876 |
Other liabilities | 9,073 | 9,154 |
Commitments and contingencies | ' | ' |
Shareholders' Equity | ' | ' |
Preferred stock, no par value: Authorized 10,000 shares, none issued | 0 | 0 |
Retained earnings | 204,468 | 203,722 |
Accumulated other comprehensive loss | -12,274 | -12,465 |
Total shareholdersb equity | 234,883 | 233,136 |
Total liabilities and shareholdersb equity | 450,853 | 457,412 |
Common Class A [Member] | ' | ' |
Shareholders' Equity | ' | ' |
Common Stock | 47,855 | 47,056 |
Less treasury stock, Class A, at cost: 453 shares at October 25, 2014 and 454 shares at July 26, 2014 | -5,874 | -5,885 |
Common Class B [Member] | ' | ' |
Shareholders' Equity | ' | ' |
Common Stock | $708 | $708 |
CONSOLIDATED_CONDENSED_BALANCE1
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) | Oct. 25, 2014 | Jul. 26, 2014 |
Preferred stock shares authorized | 10,000,000 | 10,000,000 |
Preferred stock shares issued | 0 | 0 |
Common Class A [Member] | ' | ' |
Common stock shares issued | 10,150,000 | 10,147,000 |
Common stock shares authorized | 20,000,000 | 20,000,000 |
Treasury shares | 453,000 | 454,000 |
Common Class B [Member] | ' | ' |
Common stock shares issued | 4,361,000 | 4,361,000 |
Common stock shares authorized | 20,000,000 | 20,000,000 |
CONSOLIDATED_CONDENSED_STATMEN
CONSOLIDATED CONDENSED STATMENTS OF OPERATIONS (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 |
Sales | $379,744 | $357,046 |
Cost of sales | 276,941 | 263,340 |
Gross profit | 102,803 | 93,706 |
Operating and administrative expense | 88,988 | 82,352 |
Depreciation and amortization | 5,903 | 5,105 |
Operating income | 7,912 | 6,249 |
Interest expense | -1,134 | -740 |
Interest income | 616 | 696 |
Income before income taxes | 7,394 | 6,205 |
Income taxes | 3,515 | 13,036 |
Net income (loss) | $3,879 | ($6,831) |
Common Class A [Member] | ' | ' |
Net income (loss) per share: | ' | ' |
Basic (in dollars per share) | $0.31 | ($0.55) |
Diluted (in dollars per share) | $0.27 | ($0.55) |
Common Class B [Member] | ' | ' |
Net income (loss) per share: | ' | ' |
Basic (in dollars per share) | $0.20 | ($0.36) |
Diluted (in dollars per share) | $0.20 | ($0.36) |
CONSOLIDATED_CONDENSED_STATEME
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 | ||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ||
Net income (loss) | $3,879 | ($6,831) | ||
Other comprehensive income: | ' | ' | ||
Amortization of pension actuarial loss, net of tax | 191 | [1] | 119 | [1] |
Comprehensive income (loss) | $4,070 | ($6,712) | ||
[1] | Amounts are net of tax of $133 and $82 for the 13 weeks ended OctoberB 25, 2014 and OctoberB 26, 2013, respectively. All amounts are reclassified from accumulated other comprehensive loss to Operating and administrative expense. |
CONSOLIDATED_CONDENSED_STATEME1
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parentheticals) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' |
Tax of amortization of pension actuarial loss | $133 | $82 |
CONSOLIDATED_CONDENSED_STATEME2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income (loss) | $3,879 | ($6,831) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Depreciation and amortization | 5,903 | 5,105 |
Non-cash share-based compensation | 790 | 800 |
Deferred taxes | -809 | -4,690 |
Provision to value inventories at LIFO | 100 | 150 |
Changes in assets and liabilities: | ' | ' |
Merchandise inventories | -633 | -964 |
Patronage dividend receivable | -4,293 | -4,189 |
Accounts payable to Wakefern | -5,336 | -4,244 |
Accounts payable and accrued expenses | -1,835 | -1,025 |
Accrued wages and benefits | -3,085 | -2,270 |
Income taxes payable | 2,819 | 17,679 |
Other assets and liabilities | 2,551 | -1,736 |
Net cash provided by (used in) operating activities | 51 | -2,215 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Capital expenditures | -4,386 | -16,520 |
Investment in notes receivable from Wakefern | -410 | -396 |
Net cash used in investing activities | -4,796 | -16,916 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from exercise of stock options | 13 | 217 |
Excess tax benefit related to share-based compensation | 7 | 46 |
Principal payments of long-term debt | -232 | -163 |
Dividends | -3,133 | -3,080 |
Net cash used in financing activities | -3,345 | -2,980 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | -8,090 | -22,111 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 77,352 | 109,571 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 69,262 | 87,460 |
SUPPLEMENTAL DISCLOSURES OF CASH PAYMENTS MADE FOR: | ' | ' |
Interest | 1,082 | 1,025 |
Income taxes | 1,498 | 0 |
NONCASH SUPPLEMENTAL DISCLOSURES: | ' | ' |
Investment in Wakefern | $738 | $657 |
BASIS_OF_PRESENTATION_and_ACCO
BASIS OF PRESENTATION and ACCOUNTING POLICIES | 3 Months Ended |
Oct. 25, 2014 | |
Accounting Policies [Abstract] | ' |
BASIS OF PRESENTATION and ACCOUNTING POLICIES | ' |
BASIS OF PRESENTATION and ACCOUNTING POLICIES | |
In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly the consolidated financial position as of October 25, 2014 and the consolidated statements of operations, comprehensive income (loss) and cash flows for the thirteen week periods ended October 25, 2014 and October 26, 2013 of Village Super Market, Inc. (“Village” or the “Company”). | |
The significant accounting policies followed by the Company are set forth in Note 1 to the Company's consolidated financial statements in the July 26, 2014 Village Super Market, Inc. Annual Report on Form 10-K, which should be read in conjunction with these financial statements. The results of operations for the periods ended October 25, 2014 are not necessarily indicative of the results to be expected for the full year. |
MERCHANDISE_INVENTORIES
MERCHANDISE INVENTORIES | 3 Months Ended |
Oct. 25, 2014 | |
Inventory Disclosure [Abstract] | ' |
MERCHANDISE INVENTORIES | ' |
MERCHANDISE INVENTORIES | |
At both October 25, 2014 and July 26, 2014, approximately 65% of merchandise inventories are valued by the LIFO method while the balance is valued by FIFO. If the FIFO method had been used for the entire inventory, inventories would have been $14,670 and $14,570 higher than reported at October 25, 2014 and July 26, 2014, respectively. |
NET_INCOME_LOSS_PER_SHARE
NET INCOME (LOSS) PER SHARE | 3 Months Ended | |||||||
Oct. 25, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
NET INCOME (LOSS) PER SHARE | ' | |||||||
NET INCOME (LOSS) PER SHARE | ||||||||
The Company has two classes of common stock. Class A common stock is entitled to cash dividends as declared 54% greater than those paid on Class B common stock. Shares of Class B common stock are convertible on a share-for-share basis for Class A common stock at any time. | ||||||||
The Company utilizes the two-class method of computing and presenting net income (loss) per share. The two-class method is an earnings allocation formula that calculates basic and diluted net income per share for each class of common stock separately based on dividends declared and participation rights in undistributed earnings. Under the two-class method, Class A common stock is assumed to receive a 54% greater participation in undistributed earnings than Class B common stock, in accordance with the classes respective dividend rights. Unvested share-based payment awards that contain nonforfeitable rights to dividends are treated as participating securities and therefore included in computing net income per share using the two-class method. | ||||||||
Diluted net income per share for Class A common stock is calculated utilizing the if-converted method, which assumes the conversion of all shares of Class B common stock to Class A common stock on a share-for- share basis, as this method is more dilutive than the two-class method. Diluted net loss per share for Class A common stock is calculated using the two class method and does not assume conversion of Class B common stock to shares of Class A common stock as a result of its anti-dilutive effect. Diluted net income (loss) per share for Class B common stock does not assume conversion of Class B common stock to shares of Class A common stock. | ||||||||
The tables below reconcile the numerators and denominators of basic and diluted net income (loss) per share for all periods presented. | ||||||||
13 Weeks Ended | ||||||||
October 25, 2014 | ||||||||
Class A | Class B | |||||||
Numerator: | ||||||||
Net income allocated, basic | $ | 2,912 | $ | 877 | ||||
Conversion of Class B to Class A shares | 877 | — | ||||||
Effect of share-based compensation on allocated net income | 2 | — | ||||||
Net income allocated, diluted | $ | 3,791 | $ | 877 | ||||
Denominator: | ||||||||
Weighted average shares outstanding, basic | 9,409 | 4,361 | ||||||
Conversion of Class B to Class A shares | 4,361 | — | ||||||
Dilutive effect of share-based compensation | 19 | — | ||||||
Weighted average shares outstanding, diluted | 13,789 | 4,361 | ||||||
13 Weeks Ended | ||||||||
October 26, 2013 | ||||||||
Class A | Class B | |||||||
Numerator: | ||||||||
Net loss allocated, basic | $ | (5,064 | ) | $ | (1,601 | ) | ||
Conversion of Class B to Class A shares | — | — | ||||||
Effect of share-based compensation on allocated net loss | — | — | ||||||
Net loss allocated, diluted | $ | (5,064 | ) | $ | (1,601 | ) | ||
Denominator: | ||||||||
Weighted average shares outstanding, basic | 9,136 | 4,413 | ||||||
Conversion of Class B to Class A shares | — | — | ||||||
Dilutive effect of share-based compensation | — | — | ||||||
Weighted average shares outstanding, diluted | 9,136 | 4,413 | ||||||
Outstanding stock options to purchase Class A shares of 545 were excluded from the calculation of diluted net income per share for the thirteen weeks ended October 25, 2014 as a result of their anti-dilutive effect. In addition, 290 non-vested restricted Class A shares, which are considered participating securities, and their allocated net income were excluded from the diluted net income per share calculation for the thirteen weeks ended October 25, 2014 due to their anti-dilutive effect. | ||||||||
As a result of the net loss in the thirteen weeks ended October 26, 2013, all outstanding stock options and restricted Class A shares were excluded from the diluted net loss per share calculation for the thirteen weeks ended October 26, 2013 due to their anti-dilutive effect. |
PENSION_PLANS
PENSION PLANS | 3 Months Ended | |||||||
Oct. 25, 2014 | ||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||
PENSION PLANS | ' | |||||||
PENSION PLANS | ||||||||
The Company sponsors four defined benefit pension plans. Net periodic pension costs for the four plans includes the following components: | ||||||||
13 Weeks Ended | ||||||||
October 25, | October 26, | |||||||
2014 | 2013 | |||||||
Service cost | $ | 910 | $ | 730 | ||||
Interest cost on projected benefit obligations | 764 | 694 | ||||||
Expected return on plan assets | (928 | ) | (797 | ) | ||||
Amortization of gains and losses | 324 | 201 | ||||||
Net periodic pension cost | $ | 1,070 | $ | 828 | ||||
As of October 25, 2014, the Company has contributed $45 to its pension plans in fiscal 2015. The Company expects to contribute approximately $6,000 during fiscal 2015 to fund its pension plans. |
INCOME_TAXES
INCOME TAXES | 3 Months Ended | |||||||
Oct. 25, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
INCOME TAXES | ' | |||||||
INCOME TAXES | ||||||||
In prior years, the state of New Jersey issued two separate tax assessments related to nexus beginning in fiscal 2000 and the deductibility of certain payments between subsidiaries beginning in fiscal 2002. Village contested both of these assessments through the state’s conference and appeals process and was subsequently denied. The Company then filed two complaints in Tax Court against the New Jersey Division of Taxation contesting these assessments and a trial limited to the nexus dispute was conducted in June 2013. On October 23, 2013, the Tax Court issued their opinion on the matter in favor of the New Jersey Division of Taxation. The Company is currently in the process of appealing the court’s decision. No payments with respect to these matters are required until the dispute is definitively resolved. | ||||||||
The Company recorded a $10,052 charge to income tax expense in the fiscal quarter ended October 26, 2013, which includes a $4,933 (net of federal benefit of $2,656) increase in unrecognized tax benefits and $5,119 (net of federal benefit of $2,078) of related interest and penalties for tax positions taken in prior years. This charge increased our fiscal 2014 beginning of year accrued tax liability to reflect the estimated total tax, interest and penalties due if the Company is unable to overturn the Court’s decision upon appeal. It is reasonably possible that this matter will be resolved within the next twelve months. A favorable resolution could result in a reduction in gross unrecognized tax benefits of up to $29,756. | ||||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: | ||||||||
13 Weeks Ended | ||||||||
October 25, 2014 | October 26, 2013 | |||||||
Balance at beginning of year | $ | 28,993 | $ | 17,640 | ||||
Additions based on tax positions related to prior periods | — | 7,589 | ||||||
Additions based on tax positions related to the current period | 763 | 651 | ||||||
Balance at end of period | $ | 29,756 | $ | 25,880 | ||||
Unrecognized tax benefits at October 25, 2014 and July 26, 2014 include tax positions of $18,472 and $18,100 (net of federal benefit), respectively, that would reduce the Company’s effective income tax rate, if recognized in future periods. | ||||||||
The Company recognizes interest and penalties on income taxes in income tax expense. The Company recognized $694 and $8,387 related to interest and penalties on income taxes in the fiscal quarters ended October 25, 2014 and October 26, 2013, respectively. The amount of accrued interest and penalties included within income taxes payable was $16,801 and $16,107 at October 25, 2014 and July 26, 2014, respectively. |
RELATED_PARTY_INFORMATION_WAKE
RELATED PARTY INFORMATION WAKEFERN | 3 Months Ended |
Oct. 25, 2014 | |
Related Party Transactions [Abstract] | ' |
RELATED PARTY INFORMATION - WAKEFERN | ' |
RELATED PARTY INFORMATION - WAKEFERN | |
A description of the Company’s transactions with Wakefern, its principal supplier, and with other related parties is included in the Company’s Annual Report on Form 10-K for the year ended July 26, 2014. There have been no significant changes in the Company’s relationship or nature of transactions with related parties during the first three months of fiscal 2015 except for an additional required investment in Wakefern common stock of $738. | |
At October 25, 2014, the Company had demand deposits of $46,965 at Wakefern earning interest at overnight money market rates. |
COMMITMENTS_and_CONTINGENCIES
COMMITMENTS and CONTINGENCIES | 3 Months Ended |
Oct. 25, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
COMMITMENTS and CONTINGENCIES | ' |
COMMITMENTS and CONTINGENCIES | |
Superstorm Sandy devastated our area on October 29, 2012 and resulted in the closure of almost all of our stores for periods of time ranging from a few hours to eight days. Village disposed of substantial amounts of perishable product and also incurred repair, labor and other costs as a result of the storm. The Company has property, casualty and business interruption insurance, subject to deductibles and coverage limits. During fiscal 2013, Wakefern began the process of working with our insurers to recover the damages and Village recorded estimated insurance recoveries of $4,913. As of October 25, 2014, Village has collected $2,643. In October 2013, Wakefern, as the policy holder, filed suit against the carrier seeking payment of the remaining claims due for all Wakefern members. The suit was the result of different interpretations of policy terms, including whether the policy's named storm deductible applied. On October 29, 2014, the Court issued their opinion on the matter in favor of the carrier. While Wakefern is continuing to pursue further recovery of uncollected amounts from the carrier and other sources, as a result of this decision and its related impact the Company has concluded that recovery of further proceeds is not probable and has recorded a $2,270 charge in the first quarter of fiscal 2015 to write-off the remaining insurance receivable. | |
The Company is involved in other litigation incidental to the normal course of business. Excluding the tax litigation with the State of New Jersey as described in Note 5, Company management is of the opinion that the ultimate resolution of these legal proceedings should not have a material adverse effect on the consolidated financial position, results of operations or liquidity of the Company. |
NET_INCOME_LOSS_PER_SHARE_Sche
NET INCOME (LOSS) PER SHARE: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 3 Months Ended | |||||||
Oct. 25, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||
The tables below reconcile the numerators and denominators of basic and diluted net income (loss) per share for all periods presented. | ||||||||
13 Weeks Ended | ||||||||
October 25, 2014 | ||||||||
Class A | Class B | |||||||
Numerator: | ||||||||
Net income allocated, basic | $ | 2,912 | $ | 877 | ||||
Conversion of Class B to Class A shares | 877 | — | ||||||
Effect of share-based compensation on allocated net income | 2 | — | ||||||
Net income allocated, diluted | $ | 3,791 | $ | 877 | ||||
Denominator: | ||||||||
Weighted average shares outstanding, basic | 9,409 | 4,361 | ||||||
Conversion of Class B to Class A shares | 4,361 | — | ||||||
Dilutive effect of share-based compensation | 19 | — | ||||||
Weighted average shares outstanding, diluted | 13,789 | 4,361 | ||||||
13 Weeks Ended | ||||||||
October 26, 2013 | ||||||||
Class A | Class B | |||||||
Numerator: | ||||||||
Net loss allocated, basic | $ | (5,064 | ) | $ | (1,601 | ) | ||
Conversion of Class B to Class A shares | — | — | ||||||
Effect of share-based compensation on allocated net loss | — | — | ||||||
Net loss allocated, diluted | $ | (5,064 | ) | $ | (1,601 | ) | ||
Denominator: | ||||||||
Weighted average shares outstanding, basic | 9,136 | 4,413 | ||||||
Conversion of Class B to Class A shares | — | — | ||||||
Dilutive effect of share-based compensation | — | — | ||||||
Weighted average shares outstanding, diluted | 9,136 | 4,413 | ||||||
PENSION_PLANS_Schedule_of_Net_
PENSION PLANS: Schedule of Net Benefit Costs (Tables) | 3 Months Ended | |||||||
Oct. 25, 2014 | ||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||
Schedule of Net Benefit Costs | ' | |||||||
Net periodic pension costs for the four plans includes the following components: | ||||||||
13 Weeks Ended | ||||||||
October 25, | October 26, | |||||||
2014 | 2013 | |||||||
Service cost | $ | 910 | $ | 730 | ||||
Interest cost on projected benefit obligations | 764 | 694 | ||||||
Expected return on plan assets | (928 | ) | (797 | ) | ||||
Amortization of gains and losses | 324 | 201 | ||||||
Net periodic pension cost | $ | 1,070 | $ | 828 | ||||
INCOME_TAXES_Schedule_of_Unrec
INCOME TAXES: Schedule of Unrecognized Tax Benefits Roll Forward (Tables) | 3 Months Ended | |||||||
Oct. 25, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Schedule of Unrecognized Tax Benefits Roll Forward | ' | |||||||
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: | ||||||||
13 Weeks Ended | ||||||||
October 25, 2014 | October 26, 2013 | |||||||
Balance at beginning of year | $ | 28,993 | $ | 17,640 | ||||
Additions based on tax positions related to prior periods | — | 7,589 | ||||||
Additions based on tax positions related to the current period | 763 | 651 | ||||||
Balance at end of period | $ | 29,756 | $ | 25,880 | ||||
MERCHANDISE_INVENTORIES_Detail
MERCHANDISE INVENTORIES (Details) (USD $) | Oct. 25, 2014 | Jul. 26, 2014 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Percentage of LIFO Inventory | 65.00% | 65.00% |
Inventory, LIFO Reserve | $14,670 | $14,570 |
NET_INCOME_LOSS_PER_SHARE_Deta
NET INCOME (LOSS) PER SHARE (Details) | 3 Months Ended |
In Thousands, unless otherwise specified | Oct. 25, 2014 |
class_common_stock | |
Earnings Per Share [Abstract] | ' |
Number of common stock classes | 2 |
Common stock cash dividends, percent Class A is entitled greater than Class B | 54.00% |
Conversion ratio of common Class A to common Class B (in shares) | 1 |
Common Class A [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Class A shares excluded from computation of earnings per share | 545 |
Restricted Stock Units (RSUs) [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Class A shares excluded from computation of earnings per share | 290 |
NET_INCOME_LOSS_PER_SHARE_Sche1
NET INCOME (LOSS) PER SHARE: Schedule of Earnings Per Share, Basic and Diluted (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 |
Common Class A [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Net income (loss) allocated, basic | $2,912 | ($5,064) |
Conversion of Class B to Class A shares | 877 | 0 |
Effect of share-based compensation on allocated net income | 2 | 0 |
Net income (loss) allocated, diluted | 3,791 | -5,064 |
Weighted average shares outstanding, basic | 9,409 | 9,136 |
Conversion of Class B to Class A shares | 4,361 | 0 |
Dilutive effect of share-based compensation | 19 | 0 |
Weighted average shares outstanding, diluted | 13,789 | 9,136 |
Common Class B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Net income (loss) allocated, basic | 877 | -1,601 |
Conversion of Class B to Class A shares | 0 | 0 |
Effect of share-based compensation on allocated net income | 0 | 0 |
Net income (loss) allocated, diluted | $877 | ($1,601) |
Weighted average shares outstanding, basic | 4,361 | 4,413 |
Conversion of Class B to Class A shares | 0 | 0 |
Dilutive effect of share-based compensation | 0 | 0 |
Weighted average shares outstanding, diluted | 4,361 | 4,413 |
PENSION_PLANS_Schedule_of_Net_1
PENSION PLANS: Schedule of Net Benefit Costs (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ' |
Service cost | $910 | $730 |
Interest cost on projected benefit obligations | 764 | 694 |
Expected return on plan assets | -928 | -797 |
Amortization of gains and losses | 324 | 201 |
Net periodic pension cost | $1,070 | $828 |
PENSION_PLANS_Details
PENSION PLANS (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Oct. 25, 2014 |
pension_plan | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' |
Number of defined benefit pension plans | 4 |
Company contributions to pension plans | $45 |
Estimated future employer contributions in current fiscal year | $6,000 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 | Jul. 26, 2014 | Jul. 27, 2013 |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Prior year increase in unrecognized tax benefits | $0 | $7,589 | ' | ' |
Possible result in reduction in gross unrecognized tax benefits | 29,756 | 25,880 | 28,993 | 17,640 |
Interest and penalties on income taxes | 694 | 8,387 | ' | ' |
Accrued interest and penalties | 16,801 | ' | 16,107 | ' |
Income Tax Expense on Prior Year Tax Positions [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Charge to income tax expense | ' | 10,052 | ' | ' |
Net [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Prior year increase in unrecognized tax benefits | ' | 4,933 | ' | ' |
Income tax expense related to interest and penalties for prior year | ' | 5,119 | ' | ' |
Unrecognized tax benefits that would affect income tax rate | 18,472 | ' | 18,100 | ' |
Federal Benefit [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Prior year increase in unrecognized tax benefits | ' | 2,656 | ' | ' |
Income tax expense related to interest and penalties for prior year | ' | $2,078 | ' | ' |
INCOME_TAXES_Schedule_of_Unrec1
INCOME TAXES: Schedule of Unrecognized Tax Benefits Roll Forward (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 26, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Balance at beginning of year | $28,993 | $17,640 |
Additions based on tax positions related to prior periods | 0 | 7,589 |
Additions based on tax positions related to the current period | 763 | 651 |
Balance at end of period | $29,756 | $25,880 |
RELATED_PARTY_INFORMATION_WAKE1
RELATED PARTY INFORMATION WAKEFERN (Details) (Wakefern [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Oct. 25, 2014 |
Wakefern [Member] | ' |
Related Party Transaction [Line Items] | ' |
Additional required investment in Wakefern common stock | $738 |
Demand deposits at Wakefern | $46,965 |
COMMITMENTS_and_CONTINGENCIES_
COMMITMENTS and CONTINGENCIES (Details) (USD $) | 3 Months Ended | 24 Months Ended | |
In Thousands, unless otherwise specified | Oct. 25, 2014 | Oct. 25, 2014 | Jul. 27, 2013 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Estimated insurance recoveries | ' | ' | $4,913 |
Estimated insurance recoveries collected | ' | 2,643 | ' |
Write-off of remaining insurance receivable | $2,270 | ' | ' |