Village Super Market (VLGEA) 10-Q 6 Dec 18 2019 Q1 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	3 Months Ended
	Oct. 27, 2018	Dec. 05, 2018
Entity Registrant Name	VILLAGE SUPER MARKET INC
Entity Central Index Key	103,595
Current Fiscal Year End Date	--07-27
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Oct. 27, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q1
Amendment Flag	false
Common Class A [Member]
Entity Common Stock, Shares Outstanding		10,070,676
Common Class B [Member]
Entity Common Stock, Shares Outstanding		4,303,748

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 27, 2018	Jul. 28, 2018
Current assets
Cash and cash equivalents	$ 88,834	$ 96,108
Merchandise inventories	39,299	39,413
Patronage dividend receivable	16,288	11,937
Notes receivable from Wakefern, Current	24,330	23,952
Other current assets	20,795	19,488
Total current assets	189,546	190,898
Property, equipment and fixtures, net	216,291	214,566
Notes receivable from Wakefern	23,494	23,129
Investment in Wakefern	28,575	27,093
Goodwill	12,057	12,057
Other assets	13,910	13,847
Total assets	483,873	481,590
Current liabilities
Capital and financing lease obligations	805	764
Notes payable to Wakefern	691	114
Accounts payable to Wakefern	57,609	61,798
Accounts payable and accrued expenses	19,355	19,080
Accrued wages and benefits	17,691	18,620
Income taxes payable	4,209	1,321
Total current liabilities	100,360	101,697
Long-term debt
Capital and financing lease obligations	41,547	41,768
Notes payable to Wakefern	787	0
Notes Payable, Noncurrent	6,356	6,418
Total long-term debt	48,690	48,186
Pension liabilities	8,445	8,482
Other liabilities	19,828	20,080
Shareholders' equity
Preferred stock, no par value: Authorized 10,000 shares, none issued	0	0
Retained earnings	261,151	258,104
Accumulated other comprehensive loss	(8,083)	(8,185)
Total shareholders’ equity	306,550	303,145
Total liabilities and shareholders’ equity	483,873	481,590
Common Class A [Member]
Shareholders' equity
Common Stock	62,499	61,678
Less treasury stock, Class A, at cost: 496 shares at July 28, 2018 and 477 shares at July 29, 2017	(9,716)	(9,151)
Common Class B [Member]
Shareholders' equity
Common Stock	$ 699	$ 699

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Oct. 27, 2018	Jul. 28, 2018
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)	10,583,000	10,575,000
Treasury shares	518,000	496,000
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
	Oct. 27, 2018	Oct. 28, 2017
Sales	$ 401,550	$ 387,340
Cost of sales	289,437	282,548
Gross profit	112,113	104,792
Operating and administrative expense	96,293	93,205
Depreciation and amortization	6,898	6,235
Operating income	8,922	5,352
Interest expense	(1,116)	(1,105)
Interest income	1,178	900
Income before income taxes	8,984	5,147
Income taxes	2,715	2,131
Net income	$ 6,269	$ 3,016
Common Class A [Member]
Net income per share:
Basic (in dollars per share)	$ 0.49	$ 0.23
Diluted (in dollars per share)	0.43	0.21
Common Class B [Member]
Net income per share:
Basic (in dollars per share)	0.32	0.15
Diluted (in dollars per share)	$ 0.32	$ 0.15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Oct. 27, 2018	Oct. 28, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 6,269	$ 3,016
Other comprehensive income:
Amortization of pension actuarial loss, net of tax	102	84
Comprehensive income	$ 6,371	$ 3,100

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Oct. 27, 2018	Oct. 28, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Tax of amortization of pension actuarial loss	$ (43)	$ (58)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Oct. 27, 2018	Oct. 28, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 6,269	$ 3,016
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,898	6,235
Non-cash share-based compensation	821	865
Deferred taxes	(254)	(7)
Provision to value inventories at LIFO	103	0
Changes in assets and liabilities:
Merchandise inventories	11	(619)
Patronage dividend receivable	(4,351)	(4,497)
Accounts payable to Wakefern	(4,189)	(2,886)
Accounts payable and accrued expenses	239	(1,163)
Accrued wages and benefits	(929)	(1,889)
Income taxes receivable / payable	2,969	2,138
Other assets and liabilities	(1,462)	(3,422)
Net cash provided by operating activities	6,125	(2,229)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(8,571)	(6,629)
Proceeds from Sale of Property, Plant, and Equipment	0	16
Investment in notes receivable from Wakefern	(743)	(22,592)
Proceeds from Sale, Maturity and Collection of Long-term Investments	0	22,172
Net Cash Provided by (Used in) Investing Activities	(9,314)	(7,033)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments of long-term debt	(298)	(210)
Dividends	(3,222)	(3,218)
Payments for Repurchase of Common Stock	$ (565)	(154)
Document Period End Date	Oct. 27, 2018
Net cash used in financing activities	$ (4,085)	(3,582)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(7,274)	(12,844)
NONCASH SUPPLEMENTAL DISCLOSURES:
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)	1,482
Cash and Cash Equivalents, at Carrying Value	88,834	74,591
Interest Paid, Net	$ 1,116	$ 1,105

BASIS OF PRESENTATION and ACCOU

BASIS OF PRESENTATION and ACCOUNTING POLICIES	3 Months Ended
	Oct. 27, 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 October 27, 2018 and the consolidated statements of operations, comprehensive income and cash flows for the 13 week periods ended October 27, 2018 and October 28, 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 28, 2018 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 27, 2018 are not necessarily indicative of the results to be expected for the full year. Revenue recognition Revenue is recognized at the point of sale to the customer, including Pharmacy sales. ShopRite From Home sales are recognized either upon pickup in-store or upon delivery to the customer, including any related service fees. Sales tax is excluded from revenue. Discounts provided to customers through ShopRite coupons and loyalty programs are recognized as a reduction of sales as products are sold. Discounts provided by vendors are not recognized as a reduction in sales. Rather, the Company records a receivable from the vendor for the difference in sales price and payment received from the customer. The Company does not recognize revenue when it sells ShopRite gift cards. Payment collected from customers for gift card sales is passed on to Wakefern as they can be redeemed at any ShopRite location, including those operated by Wakefern or other Wakefern members. Revenue is recognized and a receivable from Wakefern is recorded when a customer redeems a ShopRite gift card to purchase products or services. The Company adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” using the full retrospective approach in fiscal 2019. As a result of the adoption of the standard, $ 913 of certain other income streams, including commissions for gift card and lottery sales and services fees for ShopRite From Home, that were previously presented as a reduction in Operating expenses were reclassified to sales for the 13 week period ended October 28, 2017 . Additionally, $ 47 of pharmacy fees previously recorded as Cost of sales were reclassified as a reduction of sales for the 13 week period ended October 28, 2017 . Disaggregated Revenues The following table presents the Company's sales by product categories during each of the periods indicated: 13 Weeks Ended October 27, 2018 October 28, 2017 Amount % Amount % Center Store (1) $ 247,518 61.6 % $ 239,623 61.9 % Fresh (2) 135,616 33.8 128,886 33.3 Pharmacy 17,460 4.4 17,983 4.6 Other (3) 956 0.2 848 0.2 Total Sales $ 401,550 100 % $ 387,340 100 % (1) Consists primarily of grocery, dairy, frozen, health and beauty care, general merchandise and liquor. (2) Consists primarily of produce, meat, deli, seafood, bakery, prepared foods and floral. (3) Consists primarily of sales related to other income streams, including ShopRite from Home service fees and gift card and lottery commissions.

MERCHANDISE INVENTORIES

MERCHANDISE INVENTORIES	3 Months Ended
	Oct. 27, 2018
Inventory Disclosure [Abstract]
MERCHANDISE INVENTORIES	MERCHANDISE INVENTORIES At both October 27, 2018 and July 28, 2018 , 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 $14,337 and $14,234 higher than reported at October 27, 2018 and July 28, 2018 , respectively.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	3 Months Ended
	Oct. 27, 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 October 27, 2018 Class A Class B Numerator: Net income allocated, basic $ 4,739 $ 1,361 Conversion of Class B to Class A shares 1,361 — Effect of share-based compensation on allocated net income — — Net income allocated, diluted $ 6,100 $ 1,361 Denominator: Weighted average shares outstanding, basic 9,732 4,304 Conversion of Class B to Class A shares 4,304 — Dilutive effect of share-based compensation — — Weighted average shares outstanding, diluted 14,036 4,304 13 Weeks Ended October 28, 2017 Class A Class B Numerator: Net income allocated, basic $ 2,277 $ 655 Conversion of Class B to Class A shares 655 — Effect of share-based compensation on allocated net income (1 ) (1 ) Net income allocated, diluted $ 2,931 $ 654 Denominator: Weighted average shares outstanding, basic 9,722 4,304 Conversion of Class B to Class A shares 4,304 — Dilutive effect of share-based compensation — — Weighted average shares outstanding, diluted 14,026 4,304 Outstanding stock options to purchase Class A shares of 278 and 380 were excluded from the calculation of diluted net income per share at October 27, 2018 and October 28, 2017 , respectively, as a result of their anti-dilutive effect. In addition, 340 and 369 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 October 27, 2018 and October 28, 2017 , respectively, due to their anti-dilutive effect.

PENSION PLANS

PENSION PLANS	3 Months Ended
	Oct. 27, 2018
Defined Benefit Plan [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 October 27, October 28, Service cost $ 53 $ 65 Interest cost on projected benefit obligations 655 629 Expected return on plan assets (721 ) (820 ) Amortization of net losses 145 142 Net periodic pension cost $ 132 $ 16 As of October 27, 2018 , the Company has not made any contributions to its pension plans in fiscal 2019 . The Company expects to contribute $ 3,000 to fund its pension plans during fiscal 2019 .

INCOME TAXES

INCOME TAXES	3 Months Ended
	Oct. 27, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rate was 30.2% in the first quarter of fiscal 2019 compared to 41.4% in the first quarter of the prior year. The effective tax rate was impacted by the Tax Cuts and Jobs Act (the "Tax Act") enacted on December 22, 2017. The Tax Act made significant changes to the U.S tax code, including, but not limited to, reducing the U.S. federal statutory tax rate from 35% % to 21% % effective January 1, 2018 and bonus depreciation that will allow for full expensing of qualified property. The reduction in the effective tax rate due to the Tax Act was partially offset by a temporary increase in the New Jersey corporate tax rate from 9.0% % to 11.5% % for fiscal 2019.

RELATED PARTY INFORMATION - WAK

RELATED PARTY INFORMATION - WAKEFERN	3 Months Ended
	Oct. 27, 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 28, 2018 . There have been no significant changes in the Company’s relationships or nature of transactions with related parties during the first 13 weeks of fiscal 2019 except for an additional required investment in Wakefern common stock of $ 1,482 , inclusive of an initial required investment related to the Bronx, New York City store. Included in cash and cash equivalents at October 27, 2018 and July 28, 2018 are $65,145 and $63,413 , respectively, of demand deposits invested at Wakefern at overnight money market rates.

COMMITMENTS and CONTINGENCIES

COMMITMENTS and CONTINGENCIES	3 Months Ended
	Oct. 27, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS and CONTINGENCIES	COMMITMENTS and CONTINGENCIES Superstorm Sandy devastated Village's trade 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. Wakefern, as the policy holder, has pursued recovery of uncollected insurance claims on behalf of all Wakefern members through litigation against the insurance carrier and others since October 2013. This litigation is ongoing and the Company received an additional $ 415 in November 2018 which was recognized as a reduction in Operating and administrative expense in the first quarter of fiscal 2019. Including the November 2018 recoveries, Village has received $ 3,998 related to losses incurred as a result of Superstorm Sandy. Any further proceeds recovered will be recognized as they are received. 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)	3 Months Ended
	Oct. 27, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT Village has an unsecured revolving credit agreement providing a maximum amount available for borrowing of $ 25,000 . The revolving credit line can be used for general corporate purposes and expires on December 21, 2020. Indebtedness under this agreement bears interest at the applicable LIBOR rate plus 1.25% . The credit agreement provides for up to $ 3,000 of letters of credit, which secure obligations for construction performance guarantees to municipalities. The credit agreement contains 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 October 27, 2018 or July 28, 2018 under the facility. 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 were 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 in Operating and administrative expense.

BASIS OF PRESENTATION and ACC_2

BASIS OF PRESENTATION and ACCOUNTING POLICIES DISAGGREGATED REVENUES (Tables)	3 Months Ended
	Oct. 27, 2018
Accounting Policies [Abstract]
Disaggregation of Revenue [Table Text Block]	13 Weeks Ended October 27, 2018 October 28, 2017 Amount % Amount % Center Store (1) $ 247,518 61.6 % $ 239,623 61.9 % Fresh (2) 135,616 33.8 128,886 33.3 Pharmacy 17,460 4.4 17,983 4.6 Other (3) 956 0.2 848 0.2 Total Sales $ 401,550 100 % $ 387,340 100 % (1) Consists primarily of grocery, dairy, frozen, health and beauty care, general merchandise and liquor. (2) Consists primarily of produce, meat, deli, seafood, bakery, prepared foods and floral. (3) Consists primarily of sales related to other income streams, including ShopRite from Home service fees and gift card and lottery commissions.

NET INCOME (LOSS) PER SHARE - S

NET INCOME (LOSS) PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Tables)	3 Months Ended
	Oct. 27, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	13 Weeks Ended October 27, 2018 Class A Class B Numerator: Net income allocated, basic $ 4,739 $ 1,361 Conversion of Class B to Class A shares 1,361 — Effect of share-based compensation on allocated net income — — Net income allocated, diluted $ 6,100 $ 1,361 Denominator: Weighted average shares outstanding, basic 9,732 4,304 Conversion of Class B to Class A shares 4,304 — Dilutive effect of share-based compensation — — Weighted average shares outstanding, diluted 14,036 4,304 13 Weeks Ended October 28, 2017 Class A Class B Numerator: Net income allocated, basic $ 2,277 $ 655 Conversion of Class B to Class A shares 655 — Effect of share-based compensation on allocated net income (1 ) (1 ) Net income allocated, diluted $ 2,931 $ 654 Denominator: Weighted average shares outstanding, basic 9,722 4,304 Conversion of Class B to Class A shares 4,304 — Dilutive effect of share-based compensation — — Weighted average shares outstanding, diluted 14,026 4,304

BASIS OF PRESENTATION and ACC_3

BASIS OF PRESENTATION and ACCOUNTING POLICIES DISAGGREGATED REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 27, 2018	Oct. 28, 2017
Disaggregation of Revenue [Line Items]
Revenue, Net	$ 401,550	$ 387,340
Percentage of Total Sales	100.00%	100.00%
Center Store [Member]
Disaggregation of Revenue [Line Items]
Percentage of Total Sales	61.64%	61.86%
Revenues	$ 247,518	$ 239,623
Fresh
Disaggregation of Revenue [Line Items]
Percentage of Total Sales	33.77%	33.27%
Revenues	$ 135,616	$ 128,886
Pharmacy
Disaggregation of Revenue [Line Items]
Percentage of Total Sales	4.35%	4.64%
Revenues	$ 17,460	$ 17,983
Other Product
Disaggregation of Revenue [Line Items]
Percentage of Total Sales	0.24%	0.22%
Revenues	$ 956	$ 848

BASIS OF PRESENTATION and ACC_4

BASIS OF PRESENTATION and ACCOUNTING POLICIES Revenue Recognition (Details)	3 Months Ended
	Oct. 27, 2018USD ($)
Cost of Sales [Member]
Revenue from External Customer [Line Items]
Prior Period Reclassification Adjustment	$ 47,000
Operating Expense [Member]
Revenue from External Customer [Line Items]
Prior Period Reclassification Adjustment	$ 913,000

MERCHANDISE INVENTORIES (Detail

MERCHANDISE INVENTORIES (Details)	Oct. 27, 2018	Jul. 28, 2018
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory	65.00%	65.00%

NET INCOME (LOSS) PER SHARE - A

NET INCOME (LOSS) PER SHARE - Additional Information (Details) shares in Thousands	3 Months Ended
	Oct. 27, 2018class_common_stockshares	Oct. 28, 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	340	369
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	278	380

NET INCOME (LOSS) PER SHARE -_2

NET INCOME (LOSS) PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 27, 2018USD ($)shares	Oct. 28, 2017USD ($)shares
Class of Stock [Line Items]
Conversion of Stock, Conversion Ratio	1
Common Class A [Member]
Numerator:
Net income allocated, basic | $	$ 4,739	$ 2,277
Conversion of Class B to Class A shares | $	1,361	655
Effect of share-based compensation on allocated net income | $	0	(1)
Net income allocated, diluted | $	$ 6,100	$ 2,931
Denominator:
Weighted average shares outstanding, basic (in shares) | shares	9,732	9,722
Conversion of Class B to Class A shares (in shares) | shares	4,304	4,304
Dilutive effect of share-based compensation (in shares) | shares	0	0
Weighted average shares outstanding, diluted (in shares) | shares	14,036	14,026
Common Class B [Member]
Numerator:
Net income allocated, basic | $	$ 1,361	$ 655
Conversion of Class B to Class A shares | $	0	0
Effect of share-based compensation on allocated net income | $	0	(1)
Net income allocated, diluted | $	$ 1,361	$ 654
Denominator:
Weighted average shares outstanding, basic (in shares) | shares	4,304	4,304
Conversion of Class B to Class A shares (in shares) | shares	0	0
Dilutive effect of share-based compensation (in shares) | shares	0	0
Weighted average shares outstanding, diluted (in shares) | shares	4,304	4,304

PENSION PLANS - Schedule of Net

PENSION PLANS - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 27, 2018	Oct. 28, 2017
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 53	$ 65
Interest cost on projected benefit obligations	655	629
Expected return on plan assets	(721)	(820)
Amortization of net losses	145	142
Net periodic pension cost	$ 132	$ 16

PENSION PLANS - Additional Info

PENSION PLANS - Additional Information (Details) $ in Thousands	3 Months Ended
	Oct. 27, 2018USD ($)pension_plan
Estimated future employer contributions in current fiscal year | $	$ 3
Number of defined benefit pension plans | pension_plan	4

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details)	3 Months Ended		5 Months Ended	7 Months Ended	12 Months Ended
	Oct. 27, 2018	Oct. 28, 2017	Dec. 31, 2017	Jul. 28, 2018	Jul. 27, 2019	Jul. 28, 2018
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, Percent	30.20%	41.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			35.00%	0.20%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent					11.50%	9.00%

RELATED PARTY INFORMATION - W_2

RELATED PARTY INFORMATION - WAKEFERN (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 27, 2018	Oct. 28, 2017	Apr. 29, 2017	Jul. 28, 2018	Jul. 29, 2017
Related Party Transaction [Line Items]
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)	$ 1,482		$ 0
Proceeds from Sale, Maturity and Collection of Long-term Investments	$ 0	$ 22,172
Investee [Member]
Related Party Transaction [Line Items]
Demand deposits at Wakefern				$ 65,145	$ 63,413

COMMITMENTS and CONTINGENCIES (

COMMITMENTS and CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended	75 Months Ended
	Oct. 27, 2018	Oct. 27, 2018
Commitments and Contingencies Disclosure [Abstract]
Insurance Recoveries	$ 415	$ 3,998

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) $ in Thousands	Oct. 27, 2018USD ($)
Note 7 - Subsequent Event [Abstract]
Line of Credit Facility, Interest Rate Description	1.25%
Line Of Credit Facility Capacity Available For Specific Purpose Other Than Trade Purchases	$ 3,000

DEBT (Details)

DEBT (Details) - USD ($)	Dec. 29, 2017	Dec. 29, 2024	Oct. 27, 2018	Jul. 28, 2018	Nov. 09, 2017
Debt Instrument [Line Items]
Notes, Loans and Financing Receivable, Gross, Noncurrent	$ 4,835,000
InterestOnUnrelatedPartyNoteReceivablePercentage	1.403%
Third Party Contribution to Investment Fund	$ 2,375,000
Notes Payable, Noncurrent	$ 6,563,000		$ 6,356,000	$ 6,418,000
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Line of Credit Facility, Interest Rate at Period End			1.25%
Line Of Credit Facility Capacity Available For Specific Purpose Other Than Trade Purchases			$ 3,000,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity					$ 25,000,000
Scenario, Forecast [Member]
Debt Instrument [Line Items]
Benefit Over Recapture Period		$ 1,728,000

NEW MARKETS TAX CREDIT (Details

NEW MARKETS TAX CREDIT (Details) - USD ($) $ in Thousands	Dec. 29, 2017	Oct. 27, 2018	Jul. 28, 2018
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	$ 6,563	$ 6,356	$ 6,418
Debt Instrument, Interest Rate, Stated Percentage	1.00%