Village Super Market (VLGEA) 10-Q 7 Jun 18 2018 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Apr. 28, 2018	Jun. 07, 2018
Entity Registrant Name	VILLAGE SUPER MARKET INC
Entity Central Index Key	103,595
Current Fiscal Year End Date	--07-28
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q3
Amendment Flag	false
Common Class A [Member]
Entity Common Stock, Shares Outstanding		10,071,644
Common Class B [Member]
Entity Common Stock, Shares Outstanding		4,303,748

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 28, 2018	Jul. 29, 2017
Current assets
Cash and cash equivalents	$ 79,916	$ 87,435
Merchandise inventories	41,246	41,852
Patronage dividend receivable	8,362	12,655
Notes receivable from Wakefern, Current	23,597	22,118
Income Taxes Receivable, Current	2,531	1,742
Other current assets	16,953	15,670
Total current assets	172,605	181,472
Property, equipment and fixtures, net	210,502	204,440
Notes receivable from Wakefern	22,786	22,562
Investment in Wakefern	27,093	27,093
Goodwill	12,057	12,057
Other assets	19,280	7,601
Total assets	464,323	455,225
Current liabilities
Capital and financing lease obligations	731	652
Notes payable to Wakefern	187	292
Accounts payable to Wakefern	56,856	59,556
Accounts payable and accrued expenses	18,531	17,279
Accrued wages and benefits	17,829	17,810
Income taxes payable	991	604
Total current liabilities	95,125	96,193
Long-term debt
Capital and financing lease obligations	41,977	42,532
Notes payable to Wakefern	0	114
Notes Payable, Noncurrent	6,480	0
Total long-term debt	48,457	42,646
Pension liabilities	8,306	15,194
Other liabilities	14,033	14,372
Commitments and contingencies
Shareholders' equity
Preferred stock, no par value: Authorized 10,000 shares, none issued	0	0
Retained earnings	253,722	244,308
Accumulated other comprehensive loss	(7,121)	(7,406)
Total shareholders’ equity	298,402	286,820
Total liabilities and shareholders’ equity	464,323	455,225
Common Class A [Member]
Shareholders' equity
Common Stock	60,367	57,852
Less treasury stock, Class A, at cost: 504 shares at April 28, 2018 and 477 shares at July 29, 2017	(9,265)	(8,633)
Common Class B [Member]
Shareholders' equity
Common Stock	$ 699	$ 699

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Apr. 28, 2018	Jul. 29, 2017
Preferred stock shares authorized (in shares)	10,000,000	10,000,000
Preferred stock shares issued (in shares)	0	0
Common Class A [Member]
Common stock shares authorized (in shares)	20,000,000	20,000,000
Common stock shares issued (in shares)	10,576,000	10,569,000
Treasury shares	501,000	504,000
Common Class B [Member]
Common stock shares authorized (in shares)	20,000,000	20,000,000
Common stock shares issued (in shares)	4,304,000	4,304,000

CONSOLIDATED STATMENTS OF OPERA

CONSOLIDATED STATMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Sales	$ 394,608	$ 391,984	$ 1,198,464	$ 1,193,891
Cost of sales	285,731	283,648	873,422	869,668
Gross profit	108,877	108,336	325,042	324,223
Operating and administrative expense	93,780	91,536	282,138	277,060
Depreciation and amortization	6,083	6,062	18,704	18,358
Operating income	9,014	10,738	24,200	28,805
Interest expense	(1,133)	(1,111)	(3,340)	(3,343)
Interest income	1,012	726	2,776	2,063
Income before income taxes	8,893	10,353	23,636	27,525
Income taxes	2,351	4,338	4,566	11,408
Net income	$ 6,542	$ 6,015	$ 19,070	$ 16,117
Common Class A [Member]
Net income per share:
Basic (in dollars per share)	$ 0.51	$ 0.47	$ 1.48	$ 1.27
Diluted (in dollars per share)	0.45	0.42	1.32	1.13
Common Class B [Member]
Net income per share:
Basic (in dollars per share)	0.33	0.30	0.96	0.82
Diluted (in dollars per share)	$ 0.33	$ 0.30	$ 0.96	$ 0.82

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 6,542	$ 6,015	$ 19,070	$ 16,117
Other comprehensive income:
Amortization of pension actuarial loss, net of tax	99	200	285	691
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax	0	0	0	(372)
Comprehensive income	$ 6,641	$ 6,215	$ 19,355	$ 17,180

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Tax of amortization of pension actuarial loss	$ (43)	$ (147)	$ (141)	$ (411)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 19,070	$ 16,117
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,704	18,358
Non-cash share-based compensation	2,515	2,280
Deferred taxes	(418)	1,207
Provision to value inventories at LIFO	100	100
Gain (Loss) on Disposition of Assets	130	0
Changes in assets and liabilities:
Merchandise inventories	506	(894)
Patronage dividend receivable	4,293	4,210
Accounts payable to Wakefern	(2,700)	(5,929)
Accounts payable and accrued expenses	(1,575)	(1,038)
Accrued wages and benefits	19	(210)
Income taxes receivable / payable	(402)	(9,165)
Other assets and liabilities	(8,259)	1,226
Net cash provided by operating activities	31,723	26,262
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(21,883)	(19,755)
Proceeds from Sale of Property, Plant, and Equipment	130	0
Investment in notes receivable from Wakefern	(23,875)	(1,416)
Proceeds from Sale, Maturity and Collection of Long-term Investments	22,172	0
Investment in New Market Tax Credit Financing	(4,835)	0
Net Cash Provided by (Used in) Investing Activities	(28,291)	(21,171)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	0	812
Excess tax benefit related to share-based compensation	0	83
Proceeds from Notes Payable	6,860	0
Payments of Debt Issuance Costs	297	0
Principal payments of long-term debt	(695)	(1,246)
Dividends	(9,656)	(9,562)
Payments for Repurchase of Common Stock	$ (632)	(3,005)
Document Period End Date	Apr. 28, 2018
Net cash used in financing activities	$ (4,420)	(12,918)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(988)	(7,827)
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	87,435	88,379
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	86,447	80,552
SUPPLEMENTAL DISCLOSURES OF CASH PAYMENTS MADE FOR:
Interest	3,340	3,343
Income taxes	$ 5,375	$ 19,285

BASIS OF PRESENTATION and ACCOU

BASIS OF PRESENTATION and ACCOUNTING POLICIES	9 Months Ended
	Apr. 28, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION and ACCOUNTING POLICIES	BASIS OF PRESENTATION and ACCOUNTING POLICIES In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly the consolidated financial position as of April 28, 2018 and the consolidated statements of operations, comprehensive income and cash flows for the 13 and 39 week periods ended April 28, 2018 and April 29, 2017 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 29, 2017 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 April 28, 2018 are not necessarily indicative of the results to be expected for the full year.

MERCHANDISE INVENTORIES

MERCHANDISE INVENTORIES	9 Months Ended
	Apr. 28, 2018
Inventory Disclosure [Abstract]
MERCHANDISE INVENTORIES	MERCHANDISE INVENTORIES At both April 28, 2018 and July 29, 2017 , 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 $14,510 and $14,410 higher than reported at both April 28, 2018 and July 29, 2017 .

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	9 Months Ended
	Apr. 28, 2018
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME 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 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 income 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 per share for all periods presented. 13 Weeks Ended 39 Weeks Ended April 28, 2018 April 28, 2018 Class A Class B Class A Class B Numerator: Net income allocated, basic $ 4,935 $ 1,421 $ 14,387 $ 4,142 Conversion of Class B to Class A shares 1,421 — 4,142 — Effect of share-based compensation on allocated net income — — — — Net income allocated, diluted $ 6,356 $ 1,421 $ 18,529 $ 4,142 Denominator: Weighted average shares outstanding, basic 9,709 4,304 9,715 4,304 Conversion of Class B to Class A shares 4,304 — 4,304 — Dilutive effect of share-based compensation — — — — Weighted average shares outstanding, diluted 14,013 4,304 14,019 4,304 13 Weeks Ended 39 Weeks Ended April 29, 2017 April 29, 2017 Class A Class B Class A Class B Numerator: Net income allocated, basic $ 4,550 $ 1,312 $ 12,214 $ 3,551 Conversion of Class B to Class A shares 1,312 — 3,551 — Effect of share-based compensation on allocated net income — — 15 (4 ) Net income allocated, diluted $ 5,862 $ 1,312 $ 15,780 $ 3,547 Denominator: Weighted average shares outstanding, basic 9,696 4,316 9,634 4,318 Conversion of Class B to Class A shares 4,316 — 4,318 — Dilutive effect of share-based compensation — — 36 — Weighted average shares outstanding, diluted 14,012 4,316 13,988 4,318 Outstanding stock options to purchase Class A shares of 306 and 207 were excluded from the calculation of diluted net income per share at April 28, 2018 and April 29, 2017 , respectively, as a result of their anti-dilutive effect. In addition, 356 and 362 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 at April 28, 2018 and April 29, 2017 , respectively, due to their anti-dilutive effect.

PENSION PLANS

PENSION PLANS	9 Months Ended
	Apr. 28, 2018
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 cost for the four plans includes the following components: 13 Weeks Ended 39 Weeks Ended April 28, April 29, April 28, April 29, Service cost $ 65 $ 61 $ 195 $ 316 Interest cost on projected benefit obligations 629 607 1,887 1,817 Expected return on plan assets (820 ) (973 ) (2,460 ) (2,920 ) Amortization of net losses 142 347 426 1,102 Net periodic pension cost $ 16 $ 42 $ 48 $ 315 On November 29, 2016, the Company amended the Village Super Market Local 72 Retail Clerks Employees’ Retirement Plan, which covers union employees in the Stroudsburg store, to freeze all benefits effective January 31, 2017. As a result of this amendment, the Company recognized a pre-tax remeasurement gain totaling $ 629 in accumulated other comprehensive loss during fiscal 2017. The remeasurement had no impact on the consolidated statements of operations. As of April 28, 2018 , the Company has contributed $ 6,510 to its pension plans in fiscal 2018 . The Company does not expect to make additional contributions to fund its pension plans during fiscal 2018 .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Apr. 28, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	7. INCOME TAXES On December 22, 2017 the Tax Cuts and Jobs Act (the “Tax Act”) was enacted by the U.S. Government. The Tax Act made significant changes to the U.S. tax code that will affect the Company's fiscal year ending July 28, 2018, including, but not limited to, reducing the U.S. federal corporate tax rate from 35.0% % to 21.0% % effective January 1, 2018, and introducing bonus depreciation that will allow for full expensing of qualified property. As the Company’s fiscal year ends on July 28, 2018, the Company’s U.S. federal corporate statutory income tax rate will be subject to a full year blended tax rate of 26.9% for fiscal 2018, and 21.0% for subsequent fiscal years. As a result of the decrease in the U.S. federal corporate statutory rate, deferred tax balances were remeasured based on the rates at which they are expected to reverse in the future. In the 39 weeks ended April 28, 2018 , a benefit of $ 3,300 was recognized related to the remeasurement of the Company’s deferred tax balances, which is included in Income taxes on the consolidated statements of operations. On December 22, 2017, the Securities Exchange Commission ("SEC") issued guidance under Staff Accounting Bulletin No. 118, "Income Tax Accounting Implications of the Tax Cuts and Jobs Act," allowing taxpayers to record provisional amounts for reasonable estimates when they do not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete their accounting for certain income tax effects of the Tax Act. The SEC has issued rules that would allow for a measurement period of up to one year after the enactment date of the Tax Act to finalize the related tax impacts.

RELATED PARTY INFORMATION - WAK

RELATED PARTY INFORMATION - WAKEFERN	9 Months Ended
	Apr. 28, 2018
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 29, 2017 . There have been no significant changes in the Company’s relationships or nature of transactions with related parties during the first 39 weeks of fiscal 2018 except for the maturity of $22,172 in notes receivable from Wakefern that earned interest at the prime rate plus .25% on August 15, 2017. The Company invested $ 22,000 of the proceeds received in variable rate notes receivable from Wakefern that earn interest at the prime rate plus 1.25% and mature on August 15, 2022. Wakefern has the right to prepay these notes at any time. Under certain conditions, the Company can require Wakefern to prepay the notes, although interest earned since inception would be reduced as if it was earned based on overnight money market rates as paid by Wakefern on demand deposits. Included in cash and cash equivalents at April 28, 2018 and July 29, 2017 are $58,042 and $60,037 , respectively, of demand deposits invested at Wakefern at overnight money market rates.

COMMITMENTS and CONTINGENCIES

COMMITMENTS and CONTINGENCIES	9 Months Ended
	Apr. 28, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS and CONTINGENCIES	COMMITMENTS and CONTINGENCIES The Company is involved in other litigation incidental to the normal course of business. 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.

DEBT (Notes)

DEBT (Notes)	9 Months Ended
	Apr. 28, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	6. DEBT Effective November 9, 2017, the Company entered into a credit agreement that amends, restates and supersedes in its entirety the loan agreement dated September 16, 1999 and all amendments to that agreement. The agreement maintains Village's unsecured revolving line of credit providing a maximum amount available for borrowing of $25,000 , and extends the credit agreement to December 31, 2020. The revolving credit line can be used for general corporate purposes. Indebtedness under this agreement bears interest at the applicable LIBOR rate plus 1.25% . The credit agreement continues to provide for up to $3,000 of letters of credit, which secure obligations for construction performance guarantees to municipalities. The credit agreement continues to contain covenants that, among other conditions, require a maximum liabilities to tangible net worth ratio, a minimum fixed charge coverage ratio and a positive net income. There were no amounts outstanding at April 28, 2018 or July 29, 2017 under the new or superseded facility. On December 29, 2017, the Company entered into a financing transaction under the New Markets Tax Credit program, see note 8 to the unaudited consolidated financial statements for further discussion.

NEW MARKETS TAX CREDIT (Notes)

NEW MARKETS TAX CREDIT (Notes)	9 Months Ended
	Apr. 28, 2018
NEW MARKETS TAX CREDIT [Abstract]
NEW MARKETS TAX CREDIT [Text Block]	8. NEW MARKETS TAX CREDIT 2017 New Markets Tax Credit On December 29, 2017, the Company entered into a financing transaction with Wells Fargo Community Investment Holdings, LLC (“Wells Fargo”) under a qualified New Markets Tax Credit (“NMTC”) program related to the construction of a new store in the Bronx, New York. The NMTC program was provided for in the Community Renewal Tax Relief Act of 2000 (the “Act”) and is intended to induce capital investment in qualified lower income communities. The Act permits taxpayers to claim credits against their Federal income taxes for up to 39% of qualified investments in the equity of community development entities (“CDEs”). CDEs are privately managed investment institutions that are certified to make qualified low-income community investments. In connection with the financing, the Company loaned $ 4,835 to VSM Investment Fund, LLC (the "Investment Fund") at an interest rate of 1.403% per year and with a maturity date of December 31, 2044. Repayments on the loan commence in March 2025. Wells Fargo contributed $ 2,375 to the Investment Fund and, by virtue of such contribution, is entitled to substantially all of the tax benefits derived from the NMTC. The Investment Fund is a wholly owned subsidiary of Wells Fargo. The loan to the Investment Fund is recorded in Other assets in the consolidated balance sheets. The Investment Fund then contributed the proceeds to a CDE, which, in turn, loaned combined funds of $ 6,563 , net of debt issuance costs, to Village Super Market of NY, LLC, a wholly-owned subsidiary of the Company, at an interest rate of 1.000% per year with a maturity date of December 31, 2051. These loans are secured by the leasehold improvements and equipment related to the construction of the Bronx store. Repayment of the loans commences in March 2025. The proceeds of the loans from the CDE will be used to partially fund the construction of the Bronx store. The Notes payable related to New Markets Tax Credit, net of debt issuance costs, are recorded in Long-term debt in the consolidated balance sheets. The NMTC is subject to 100% recapture for a period of seven years. The Company is required to be in compliance with various regulations and contractual provisions that apply to the New Markets Tax Credit arrangement. Noncompliance could result in Wells Fargo's projected tax benefits not being realized and, therefore, require the Company to indemnify Wells Fargo for any loss or recapture of NMTCs. The Company does not anticipate any credit recapture will be required in connection with this financing arrangement. The transaction includes a put/call provision whereby the Company may be obligated or entitled to repurchase Wells Fargo's interest in the Investment Fund. The value attributed to the put/call is de minimis. We believe that Wells Fargo will exercise the put option in December 2024, at the end of the recapture period, that will result in a net benefit to the Company of $ 1,728 . The Company is recognizing the net benefit over the seven-year compliance period. Restricted Cash In November 2016, the FASB issued ASU No. 2016-18, "Restricted Cash," which requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and restricted cash. Accordingly, restricted cash will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts presented on the statement of cash flows. The Company early-adopted ASU No. 2016-18 during the second quarter of fiscal 2018 and applied its provisions retrospectively. Other than the change in presentation within the consolidated statement of cash flows, the adoption of ASU No. 2016-18 did not have an impact on the Company's consolidated financial statements. Included in Other assets at April 28, 2018 is $ 6,532 of cash and cash equivalents related to the NMTC financing transaction that are restricted as to withdrawal and designated for expenditure in the construction of noncurrent assets in the Bronx store. There were no restricted cash or cash equivalents at July 29, 2017 .

NET INCOME (LOSS) PER SHARE - S

NET INCOME (LOSS) PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Apr. 28, 2018
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 per share for all periods presented. 13 Weeks Ended 39 Weeks Ended April 28, 2018 April 28, 2018 Class A Class B Class A Class B Numerator: Net income allocated, basic $ 4,935 $ 1,421 $ 14,387 $ 4,142 Conversion of Class B to Class A shares 1,421 — 4,142 — Effect of share-based compensation on allocated net income — — — — Net income allocated, diluted $ 6,356 $ 1,421 $ 18,529 $ 4,142 Denominator: Weighted average shares outstanding, basic 9,709 4,304 9,715 4,304 Conversion of Class B to Class A shares 4,304 — 4,304 — Dilutive effect of share-based compensation — — — — Weighted average shares outstanding, diluted 14,013 4,304 14,019 4,304 13 Weeks Ended 39 Weeks Ended April 29, 2017 April 29, 2017 Class A Class B Class A Class B Numerator: Net income allocated, basic $ 4,550 $ 1,312 $ 12,214 $ 3,551 Conversion of Class B to Class A shares 1,312 — 3,551 — Effect of share-based compensation on allocated net income — — 15 (4 ) Net income allocated, diluted $ 5,862 $ 1,312 $ 15,780 $ 3,547 Denominator: Weighted average shares outstanding, basic 9,696 4,316 9,634 4,318 Conversion of Class B to Class A shares 4,316 — 4,318 — Dilutive effect of share-based compensation — — 36 — Weighted average shares outstanding, diluted 14,012 4,316 13,988 4,318

PENSION PLANS - Schedule of Net

PENSION PLANS - Schedule of Net Benefit Costs (Tables)	9 Months Ended
	Apr. 28, 2018
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Schedule of Net Benefit Costs	Net periodic pension cost for the four plans includes the following components: 13 Weeks Ended 39 Weeks Ended April 28, April 29, April 28, April 29, Service cost $ 65 $ 61 $ 195 $ 316 Interest cost on projected benefit obligations 629 607 1,887 1,817 Expected return on plan assets (820 ) (973 ) (2,460 ) (2,920 ) Amortization of net losses 142 347 426 1,102 Net periodic pension cost $ 16 $ 42 $ 48 $ 315

MERCHANDISE INVENTORIES (Detail

MERCHANDISE INVENTORIES (Details) - USD ($) $ in Thousands	Apr. 28, 2018	Jul. 29, 2017
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory	65.00%	65.00%
Inventory, LIFO Reserve	$ 14,510

NET INCOME (LOSS) PER SHARE - A

NET INCOME (LOSS) PER SHARE - Additional Information (Details) shares in Thousands	9 Months Ended
	Apr. 28, 2018class_common_stockshares	Apr. 29, 2017shares
Earnings Per Share [Abstract]
Number of common stock classes | class_common_stock	2
Common stock cash dividends, percent Class A is entitled greater than Class B	54.00%
Conversion of stock, conversion ratio	1
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	356	362
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	306	207

NET INCOME (LOSS) PER SHARE -21

NET INCOME (LOSS) PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Common Class A [Member]
Numerator:
Net income allocated, basic	$ 4,935	$ 4,550	$ 14,387	$ 12,214
Conversion of Class B to Class A shares	1,421	1,312	4,142	3,551
Effect of share-based compensation on allocated net income	0	0	0	15
Net income allocated, diluted	$ 6,356	$ 5,862	$ 18,529	$ 15,780
Denominator:
Weighted average shares outstanding, basic (in shares)	9,709	9,696	9,715	9,634
Conversion of Class B to Class A shares (in shares)	4,304	4,316	4,304	4,318
Dilutive effect of share-based compensation (in shares)	0	0	0	36
Weighted average shares outstanding, diluted (in shares)	14,013	14,012	14,019	13,988
Common Class B [Member]
Numerator:
Net income allocated, basic	$ 1,421	$ 1,312	$ 4,142	$ 3,551
Conversion of Class B to Class A shares	0	0	0	0
Effect of share-based compensation on allocated net income	0	0	0	(4)
Net income allocated, diluted	$ 1,421	$ 1,312	$ 4,142	$ 3,547
Denominator:
Weighted average shares outstanding, basic (in shares)	4,304	4,316	4,304	4,318
Conversion of Class B to Class A shares (in shares)	0	0	0	0
Dilutive effect of share-based compensation (in shares)	0	0	0	0
Weighted average shares outstanding, diluted (in shares)	4,304	4,316	4,304	4,318

PENSION PLANS - Schedule of N22

PENSION PLANS - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 65	$ 61	$ 195	$ 316
Interest cost on projected benefit obligations	629	607	1,887	1,817
Expected return on plan assets	(820)	(973)	(2,460)	(2,920)
Amortization of net losses	142	347	426	1,102
Net periodic pension cost	$ 16	$ 42	$ 48	$ 315

PENSION PLANS - Additional Info

PENSION PLANS - Additional Information (Details) $ in Thousands	9 Months Ended
	Apr. 28, 2018USD ($)pension_plan	Apr. 29, 2017USD ($)
Defined Benefit Plan, Contributions by Employer	$ 6,510
Defined Benefit Plan, Actuarial Gain (Loss)		$ 629
Number of defined benefit pension plans | pension_plan	4

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	5 Months Ended	7 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Jul. 28, 2018	Apr. 28, 2018	Jul. 28, 2018
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	21.00%		26.90%
ProvisionalOneTimeU.S.TaxReformChargeRevaluationofDeferredTaxAssetsandLiabilities			$ 3,300
Scenario, Forecast [Member]
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%

RELATED PARTY INFORMATION - W25

RELATED PARTY INFORMATION - WAKEFERN (Details) - USD ($) $ in Thousands	Aug. 15, 2017	Apr. 28, 2018	Apr. 29, 2017	Jul. 29, 2017
Related Party Transaction [Line Items]
Proceeds from Sale, Maturity and Collection of Long-term Investments		$ 22,172	$ 0
Due from Related Parties	$ 22,000
Investee [Member]
Related Party Transaction [Line Items]
Demand deposits at Wakefern		$ 58,042		$ 60,037
Related Party Note Receivable Maturing August 2017 [Member] | Investee [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Basis Spread on Variable Rate	0.25%
Related Party Notes Receivable Maturing August 2022 [Member] | Investee [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Basis Spread on Variable Rate	1.25%

DEBT (Details)

DEBT (Details) $ in Thousands	Apr. 28, 2018USD ($)
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000

NEW MARKETS TAX CREDIT (Details

NEW MARKETS TAX CREDIT (Details) - USD ($) $ in Thousands	84 Months Ended
	Dec. 29, 2024	Apr. 28, 2018	Dec. 29, 2017	Jul. 29, 2017
NEW MARKETS TAX CREDIT [Abstract]
Notes, Loans and Financing Receivable, Gross, Noncurrent			$ 4,835
InterestOnUnrelatedPartyNoteReceivablePercentage			1.403%
Third Party Contribution to Investment Fund			$ 2,375
Notes Payable, Noncurrent		$ 6,480	$ 6,563	$ 0
Debt Instrument, Interest Rate, Stated Percentage			1.00%
Benefit Over Recapture Period	$ 1,728
Restricted Cash and Investments, Noncurrent		$ 6,532		$ 0