Weis Markets (WMK) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 26, 2022	May 05, 2022
Cover [Abstract]
Entity Central Index Key	0000105418
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 26, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-5039
Entity Registrant Name	WEIS MARKETS, INC
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	24-0755415
Entity Address, Address Line One	1000 S. Second Street
Entity Address, Address Line Two	P. O. Box 471
Entity Address, City or Town	Sunbury
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17801-0471
City Area Code	570
Local Phone Number	286-4571
Title of 12(b) Security	Common stock, no par value
Trading Symbol	WMK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,898,443
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Current:
Cash and cash equivalents	$ 93,092	$ 86,048
Marketable securities	198,756	205,744
SERP investment	24,515	27,059
Accounts receivable, net	47,310	52,108
Inventories	285,355	269,587
Prepaid expenses and other current assets	29,613	31,112
Total current assets	678,641	671,658
Property and equipment, net	954,521	977,787
Operating lease right-to-use	193,596	191,175
Goodwill	52,330	52,330
Intangible and other assets, net	17,850	17,525
Total assets	1,896,938	1,910,475
Current:
Accounts payable	193,233	218,774
Accrued expenses	49,040	48,654
Operating leases	44,096	39,940
Accrued self-insurance	19,003	18,568
Deferred revenue, net	8,505	11,901
Income taxes payable	14,919	7,360
Total current liabilities	328,796	345,197
Postretirement Benefit Obligations	26,474	29,964
Accrued self-insurance	23,390	23,400
Operating leases	159,623	161,669
Deferred income taxes	116,643	115,087
Other	4,535	15,416
Total liabilities	659,461	690,733
Shareholders' Equity
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 26,898,443 shares outstanding	9,949	9,949
Retained earnings	1,381,745	1,358,963
Accumulated other comprehensive income (Net of deferred taxes of $1,332 in 2022 and $669 in 2021)	(3,360)	1,687
Shareholders' equity before treasury stock	1,388,334	1,370,599
Treasury stock at cost, 6,149,364 shares	(150,857)	(150,857)
Total shareholders' equity	1,237,477	1,219,742
Total liabilities and shareholders' equity	$ 1,896,938	$ 1,910,475

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Common stock, par value
Common stock, shares authorized	100,800,000	100,800,000
Common stock, shares issued	33,047,807	33,047,807
Common stock, shares outstanding	26,898,443	26,898,443
Accumulated other comprehensive income, deferred taxes	$ 1,332	$ 669
Treasury stock, shares	6,149,364	6,149,364

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Income Statement [Abstract]
Net sales	$ 1,104,069	$ 1,006,340
Cost of sales, including advertising, warehousing and distribution expenses	810,384	738,950
Gross profit on sales	293,685	267,390
Operating, general and administrative expenses	252,271	235,556
Income from operations	41,414	31,834
Investment income (loss) and interest expense	(881)	1,611
Other income (expense)	1,505	(775)
Income before provision for income taxes	42,038	32,670
Provision for income taxes	10,649	8,415
Net income	$ 31,389	$ 24,255
Weighted-average shares outstanding, basic	26,898,443	26,898,443
Weighted-average shares outstanding, diluted	26,898,443	26,898,443
Cash dividends per share	$ 0.32	$ 0.31
Basic earnings per share	1.17	0.90
Diluted earnings per share	$ 1.17	$ 0.90

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 31,389	$ 24,255
Available-for-sale marketable securities
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $2,001 and $306, respectively for the thirteen weeks ended)	(5,047)	(774)
Other comprehensive income gain (loss), net of tax	(5,047)	(774)
Comprehensive income, net of tax	$ 26,342	$ 23,481

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Comprehensive Income [Abstract]
Unrealized holding gains (losses) arising during period, deferred taxes	$ 2,001	$ 306

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
Balance, at Dec. 26, 2020	$ 9,949	$ 1,283,737	$ 3,286	$ (150,857)	$ 1,146,115
Balance, shares at Dec. 26, 2020	33,047,807
Balance, treasury shares at Dec. 26, 2020				6,149,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		24,255			24,255
Other comprehensive income (loss), net of reclassification adjustments and tax			(774)		(774)
Dividends paid		(8,339)			(8,339)
Balance, at Mar. 27, 2021	$ 9,949	1,299,653	2,512	$ (150,857)	1,161,257
Balance, shares at Mar. 27, 2021	33,047,807
Balance, treasury shares at Mar. 27, 2021				6,149,364
Balance, at Dec. 25, 2021	$ 9,949	1,358,963	1,687	$ (150,857)	$ 1,219,742
Balance, shares at Dec. 25, 2021	33,047,807				26,898,443
Balance, treasury shares at Dec. 25, 2021				6,149,364	6,149,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		31,389			$ 31,389
Other comprehensive income (loss), net of reclassification adjustments and tax			(5,047)		(5,047)
Dividends paid		(8,608)			(8,608)
Balance, at Mar. 26, 2022	$ 9,949	$ 1,381,745	$ (3,360)	$ (150,857)	$ 1,237,477
Balance, shares at Mar. 26, 2022	33,047,807				26,898,443
Balance, treasury shares at Mar. 26, 2022				6,149,364	6,149,364

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Cash flows from operating activities:
Net income	$ 31,389	$ 24,255
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	25,629	25,359
(Gain) loss on disposition of fixed assets	(3)	63
Unrealized (gain) loss in value of equity securities	214	(237)
Deferred income taxes	3,557	2,133
Unrealized (gain) loss in SERP	2,184	(448)
Changes in operating assets and liabilities:
Inventories	(15,768)	(7,709)
Accounts receivable and prepaid expenses	6,297	15,763
Accounts payable and other liabilities	(26,316)	(49,776)
Income taxes	7,559	5,146
Other	(262)	388
Net cash provided by operating activities	34,480	14,937
Cash flows from investing activities:
Purchase of property and equipment	(18,793)	(37,043)
Proceeds from the sale of property and equipment	13	29
Purchase of marketable securities	(25,965)	(10,165)
Proceeds from the sale and maturities of marketable securities	25,481	6,125
Purchase of intangible assets	(48)	(17)
Proceeds from sale of intangible assets	125
Change in SERP investment	359	(922)
Net cash used in investing activities	(18,828)	(41,993)
Cash flows from financing activities:
Dividends paid	(8,608)	(8,339)
Net cash used in financing activities	(8,608)	(8,339)
Net increase (decrease) in cash and cash equivalents	7,044	(35,395)
Cash and cash equivalents at beginning of year	86,048	136,612
Cash and cash equivalents at end of period	$ 93,092	$ 101,217

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Cash Flows [Abstract]
Income taxes paid	$ 233	$ 1,100
Interest paid	$ 8	$ 9

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	(1) Significant Accounting Policies Basis of Presentation: The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring deferrals and accruals) considered necessary for a fair presentation have been included. The operating results for the periods presented are not necessarily indicative of the results to be expected for the full year. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements and there were no material subsequent events which require additional disclosure. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company’s latest Annual Report on Form 10-K.

Current Relevant Accounting Sta

Current Relevant Accounting Standards	3 Months Ended
	Mar. 26, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Current Relevant Accounting Standards	(2) Current Relevant Accounting Standards The Company regularly monitors recently issued accounting standards and assesses their applicability and impact. The Company believes that there are no accounting standard updates that have or will have a material or significant impact on the Company’s accounting policies.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 26, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	(3) Marketable Securities The Company’s marketable securities are all classified as available-for-sale within “Current Assets” in the Company’s Consolidated Balance Sheets. FASB has established three levels of inputs that may be used to measure fair value: Level 1 Level 2 Level 3 The Company’s marketable securities valued using Level 1 inputs include highly liquid equity securities, for which quoted market prices are available. The Company’s municipal bond and commercial paper portfolio is valued using Level 2 inputs. The Company’s municipal bonds and commercial paper are valued using a combination of pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models utilizing observable inputs, which are considered Level 2 inputs. For Level 2 investment valuation, the Company utilizes standard pricing procedures of its investment advisory firm which includes various third-party pricing services. These procedures also require specific price monitoring practices as well as pricing review reports, valuation oversight and pricing challenge procedures to maintain the most accurate representation of investment fair market value. The Company accrues interest on its bond and commercial paper portfolio throughout the life of each bond and commercial paper held. Dividends from the equity securities are recognized as received. Interest, dividends and unrealized gains and losses on equity securities are recognized in “Investment income (loss) and interest expense” on the Company’s Consolidated Statements of Income. The Company recognized investment income of $632 thousand in the thirteen weeks ended March 26, 2022, which included an unrealized loss in equity securities of $214 thousand. In the thirteen weeks ended March 27, 2021, the Company recognized investment income of $844 thousand, which included an unrealized gain in equity securities of $237 ​ ​ Marketable securities, as of March 26, 2022 and December 25, 2021, consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ (amounts in thousands) ​ Amortized ​ Unrealized ​ Unrealized ​ Fair March 26, 2022 Cost Holding Gains Holding Losses Value Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,295 Level 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and municipal bonds ​ $ 152,238 ​ $ 2,012 ​ $ (6,648) ​ ​ 147,602 Commercial Paper ​ ​ 44,915 ​ ​ 6 ​ ​ (62) ​ ​ 44,859 ​ ​ $ 197,153 ​ $ 2,018 ​ $ (6,710) ​ $ 198,756 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ (amounts in thousands) ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 25, 2021 Cost Holding Gains Holding Losses Value Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,509 Level 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and municipal bonds ​ $ 151,947 ​ $ 4,753 ​ $ (2,384) ​ ​ 154,315 Commercial Paper ​ ​ 44,931 ​ ​ 2 ​ ​ (13) ​ ​ 44,920 ​ ​ $ 196,878 ​ $ 4,755 ​ $ (2,397) ​ $ 205,744 ​ ​ Maturities of marketable securities classified as available-for-sale at March 26, 2022, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Fair (amounts in thousands) Cost Value Available-for-sale: ​ ​ ​ ​ ​ ​ Due within one year ​ $ 57,746 ​ $ 57,494 Due after one year through five years ​ ​ 89,527 ​ ​ 87,916 Due after five years through ten years ​ ​ 49,880 ​ ​ 47,051 ​ ​ $ 197,153 ​ $ 192,461 ​ ​ SERP Investments The Company also maintains a non-qualified supplemental executive retirement plan for certain of its associates which allows them to defer income to future periods. Participants in the plans earn a return on their deferrals based on mutual fund investments. The Company chooses to invest in the underlying mutual fund investments to offset the liability associated with the non-qualified deferred compensation plans. Such investments are reported on the Company’s Consolidated Balance Sheets as “SERP investment,” are classified as trading securities and are measured at fair value using Level 1 inputs with gains and losses included in “Investment income (loss) and interest expense” on the Company’s Consolidated Statements of Income. The Company recognized investment loss of $1.5 million in the thirteen weeks ended March 26, 2022, and investment income of $775 thousand in the same period in 2021. The changes in the underlying liability to the associates are recorded in “Other income (expense).”

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 26, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income	(4) Accumulated Other Comprehensive Income All balances in accumulated other comprehensive income are related to available-for-sale marketable securities. The following table sets forth the balance of the Company’s accumulated other comprehensive income, net of tax. ​ ​ ​ ​ ​ ​ ​ Unrealized Gains (Losses) ​ ​ on Available-for-Sale (amounts in thousands) Marketable Securities Accumulated other comprehensive income (loss) balance as of December 25, 2021 ​ $ 1,687 ​ ​ ​ ​ Other comprehensive income (loss) ​ ​ (5,047) Net current period other comprehensive income (loss) ​ ​ (5,047) Accumulated other comprehensive income (loss) balance as of March 26, 2022 ​ $ (3,360) ​

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 26, 2022
Debt Disclosure [Abstract]
Long-Term Debt	(5) Long-Term Debt On September 1, 2016, Weis Markets entered into a revolving credit agreement with Wells Fargo Bank, National Association (the “Credit Agreement”), which was amended on September 29, 2021, and matures on September 1, 2024. The Credit Agreement provides for an unsecured revolving credit facility with an aggregate principal amount not to exceed $30.0 million with an additional discretionary amount available of $70.0 million. As of March 26, 2022, the availability under the revolving credit agreement was $25.3 million, net of $4.7 million letters of credit. The letters of credit are maintained primarily to support performance, payment, deposit or surety obligations of the Company. Interest expense related to long-term debt was $8 thousand in each of the thirteen weeks ended March 26, 2022, and March 27, 2021.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 26, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	(6) Revenue Recognition The Chief Operating Officer, the Company’s chief operating decision maker, analyzes store operational revenues by geographical area but each area offers customers similar products, has similar distribution methods, and is supported by centralized management processes. The Company’s operations are reported as a single reportable segment. The following table represents net sales by type of product for the thirteen weeks ended March 26, 2022, and March 27, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ( amounts in thousands ​ March 26, 2022 ​ March 27, 2021 Grocery $ 941,596 ​ 85.3 % $ 874,073 ​ 86.9 % Pharmacy ​ ​ 103,274 ​ 9.4 ​ ​ 95,597 ​ 9.5 ​ Fuel ​ ​ 56,157 ​ 5.1 ​ ​ 34,372 ​ 3.4 ​ Manufacturing ​ ​ 3,042 ​ 0.2 ​ ​ 2,298 ​ 0.2 ​ Total net sales ​ $ 1,104,069 ​ 100.0 % $ 1,006,340 ​ 100.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases

Leases	3 Months Ended
	Mar. 26, 2022
Leases [Abstract]
Leases	(7) Leases As of March 26, 2022, the Company leased approximately 50% of its open store facilities under operating leases that expire at various dates through 2036, with the remaining store facilities being owned. These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus variable lease costs related to real estate taxes and insurance as well as contingent rentals based on a percentage of annual sales or increases periodically based on inflation. These variable lease costs are not included in the measurement of the operating lease right-to-use assets or lease liabilities and are charged to the related expense category included in “Operating, general and administrative expenses.” Most of the leases contain multiple renewal options, under which the Company may extend the lease terms from The Company leases or subleases space to tenants in owned, vacated and open store facilities. Rental income is recorded when earned as a component of “Operating, general and administrative expenses.” The following is a schedule of the lease costs included in “Operating, general and administrative expenses” for the thirteen weeks ended March 26, 2022, and March 27, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended (amounts in thousands) March 26, 2022 ​ ​ March 27, 2021 Operating lease cost ​ $ 11,378 ​ $ 11,317 Variable lease cost ​ ​ 2,827 ​ ​ 2,698 Lease or sublease income ​ ​ (2,383) ​ ​ (2,309) Net lease cost ​ $ 11,822 ​ $ 11,706 ​

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring deferrals and accruals) considered necessary for a fair presentation have been included. The operating results for the periods presented are not necessarily indicative of the results to be expected for the full year. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements and there were no material subsequent events which require additional disclosure. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company’s latest Annual Report on Form 10-K.
Current Relevant Accounting Standards	The Company regularly monitors recently issued accounting standards and assesses their applicability and impact. The Company believes that there are no accounting standard updates that have or will have a material or significant impact on the Company’s accounting policies.

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 26, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule Of Marketable Securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ (amounts in thousands) ​ Amortized ​ Unrealized ​ Unrealized ​ Fair March 26, 2022 Cost Holding Gains Holding Losses Value Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,295 Level 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and municipal bonds ​ $ 152,238 ​ $ 2,012 ​ $ (6,648) ​ ​ 147,602 Commercial Paper ​ ​ 44,915 ​ ​ 6 ​ ​ (62) ​ ​ 44,859 ​ ​ $ 197,153 ​ $ 2,018 ​ $ (6,710) ​ $ 198,756 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ (amounts in thousands) ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 25, 2021 Cost Holding Gains Holding Losses Value Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 6,509 Level 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and municipal bonds ​ $ 151,947 ​ $ 4,753 ​ $ (2,384) ​ ​ 154,315 Commercial Paper ​ ​ 44,931 ​ ​ 2 ​ ​ (13) ​ ​ 44,920 ​ ​ $ 196,878 ​ $ 4,755 ​ $ (2,397) ​ $ 205,744 ​
Schedule Of Maturities Of Marketable Securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Fair (amounts in thousands) Cost Value Available-for-sale: ​ ​ ​ ​ ​ ​ Due within one year ​ $ 57,746 ​ $ 57,494 Due after one year through five years ​ ​ 89,527 ​ ​ 87,916 Due after five years through ten years ​ ​ 49,880 ​ ​ 47,051 ​ ​ $ 197,153 ​ $ 192,461 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 26, 2022
Equity [Abstract]
Schedule Of Accumulated Other Comprehensive Income	​ ​ ​ ​ ​ ​ ​ Unrealized Gains (Losses) ​ ​ on Available-for-Sale (amounts in thousands) Marketable Securities Accumulated other comprehensive income (loss) balance as of December 25, 2021 ​ $ 1,687 ​ ​ ​ ​ Other comprehensive income (loss) ​ ​ (5,047) Net current period other comprehensive income (loss) ​ ​ (5,047) Accumulated other comprehensive income (loss) balance as of March 26, 2022 ​ $ (3,360)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 26, 2022
Revenue from Contract with Customer [Abstract]
Schedule Of Sales By Type Of Product	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended ( amounts in thousands ​ March 26, 2022 ​ March 27, 2021 Grocery $ 941,596 ​ 85.3 % $ 874,073 ​ 86.9 % Pharmacy ​ ​ 103,274 ​ 9.4 ​ ​ 95,597 ​ 9.5 ​ Fuel ​ ​ 56,157 ​ 5.1 ​ ​ 34,372 ​ 3.4 ​ Manufacturing ​ ​ 3,042 ​ 0.2 ​ ​ 2,298 ​ 0.2 ​ Total net sales ​ $ 1,104,069 ​ 100.0 % $ 1,006,340 ​ 100.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 26, 2022
Leases [Abstract]
Schedule of Lease Costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 Weeks Ended (amounts in thousands) March 26, 2022 ​ ​ March 27, 2021 Operating lease cost ​ $ 11,378 ​ $ 11,317 Variable lease cost ​ ​ 2,827 ​ ​ 2,698 Lease or sublease income ​ ​ (2,383) ​ ​ (2,309) Net lease cost ​ $ 11,822 ​ $ 11,706

Marketable Securities - Investm

Marketable Securities - Investment Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Investment Income, Net [Abstract]
Investment income (loss)	$ 632	$ 844
Equity Securities, FV-NI, Unrealized Gain (Loss) [Abstract]
Unrealized gain (loss) on equity securities	$ (214)	$ 237

Marketable Securities - Fair Va

Marketable Securities - Fair Value (Details) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Marketable Securities [Abstract]
Equity securities	$ 6,295	$ 6,509
Available-for-sale securities	192,461
Marketable securities	$ 198,756	$ 205,744
Equity Securities, FV-NI, Fair Value by Fair Value Hierarchy Level	us-gaap:FairValueInputsLevel1Member	us-gaap:FairValueInputsLevel1Member
Bonds [Member]
Marketable Securities [Abstract]
Available-for-sale securities	$ 147,602	$ 154,315
Debt Securities, Available-for-Sale, Fair Value by Fair Value Hierarchy Level	us-gaap:FairValueInputsLevel2Member	us-gaap:FairValueInputsLevel2Member
Commercial Paper [Member]
Marketable Securities [Abstract]
Available-for-sale securities	$ 44,859	$ 44,920
Debt Securities, Available-for-Sale, Fair Value by Fair Value Hierarchy Level	us-gaap:FairValueInputsLevel2Member	us-gaap:FairValueInputsLevel2Member

Marketable Securities - Amortiz

Marketable Securities - Amortized Cost (Details) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 197,153	$ 196,878
Gross Unrealized Holding Gains	2,018	4,755
Gross Unrealized Holding Losses	(6,710)	(2,397)
Fair Value	192,461
Bonds [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	152,238	151,947
Gross Unrealized Holding Gains	2,012	4,753
Gross Unrealized Holding Losses	(6,648)	(2,384)
Fair Value	147,602	154,315
Commercial Paper [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	44,915	44,931
Gross Unrealized Holding Gains	6	2
Gross Unrealized Holding Losses	(62)	(13)
Fair Value	$ 44,859	$ 44,920

Marketable Securities - Maturit

Marketable Securities - Maturities (Details) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost, Rolling Maturity [Abstract]
Amortized Cost, Due within one year	$ 57,746
Amortized Cost, Due after one year through five years	89,527
Amortized Cost, Due after five years through ten years	49,880
Amortized Cost	197,153	$ 196,878
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling Maturity, Fair Value [Abstract]
Fair Value, Due within one year	57,494
Fair Value, Due after one year through five years	87,916
Fair Value, Due after five years through ten years	47,051
Fair Value	$ 192,461

Marketable Securities - SERP In

Marketable Securities - SERP Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Net Investment Income [Line Items]
Investment Income (Loss) and Interest Expense	$ (881)	$ 1,611
Supplemental Employee Retirement Plan [Member]
Net Investment Income [Line Items]
Investment Income (Loss) and Interest Expense	$ 1,500	$ 775

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance,	$ 1,219,742	$ 1,146,115
Other comprehensive income gain (loss), net of tax	(5,047)	(774)
Balance,	1,237,477	1,161,257
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance,	1,687	3,286
Balance,	(3,360)	$ 2,512
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance,	1,687
Other comprehensive income (loss)	(5,047)
Other comprehensive income gain (loss), net of tax	(5,047)
Balance,	$ (3,360)

Long-Term Debt - General Inform

Long-Term Debt - General Information (Details)	3 Months Ended
	Mar. 26, 2022USD ($)
Revolving Credit Agreement, Wells Fargo Bank, National Association [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Sep. 1, 2016
Debt Instrument, Maturity Date	Sep. 1, 2024
Line of Credit Facility, Remaining Borrowing Capacity	$ 25,300,000
Revolving Credit Agreement, Wells Fargo Bank, National Association, Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	30,000,000
Revolving Credit Agreement, Wells Fargo Bank, National Association, Revolving Credit Facility, Discretionary [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	70,000,000
Revolving Credit Agreement, Wells Fargo Bank, National Association, Letters of Credit [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Amount of facility borrowed	$ 4,700,000

Long-Term Debt - Interest Expen

Long-Term Debt - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Interest Expense, Debt [Abstract]
Interest expense	$ 8	$ 8

Revenue Recognition - Segments

Revenue Recognition - Segments (Details) - segment	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments	1	1

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,104,069	$ 1,006,340
Grocery [Member]
Disaggregation of Revenue [Line Items]
Total net sales	941,596	874,073
Pharmacy [Member]
Disaggregation of Revenue [Line Items]
Total net sales	103,274	95,597
Fuel, Product [Member]
Disaggregation of Revenue [Line Items]
Total net sales	56,157	34,372
Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 3,042	$ 2,298

Revenue Recognition - Concentra

Revenue Recognition - Concentration Risk (Details)	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Product Information [Line Items]
Concentration risk (as a percent)	100.00%	100.00%
Grocery [Member] | Revenue from Contract with Customer Benchmark [Member] | Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	85.30%	86.90%
Pharmacy [Member] | Revenue from Contract with Customer Benchmark [Member] | Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	9.40%	9.50%
Fuel, Product [Member] | Revenue from Contract with Customer Benchmark [Member] | Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	5.10%	3.40%
Manufacturing [Member] | Revenue from Contract with Customer Benchmark [Member] | Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	0.20%	0.20%

Leases - General Information (D

Leases - General Information (Details)	Mar. 26, 2022
Lessee, Operating Lease, Description [Abstract]
Percentage of facilities under operating leases	50.00%
Maximum [Member]
Lessee, Operating Lease, Description [Abstract]
Lease renewal term	20 years
Minimum [Member]
Lessee, Operating Lease, Description [Abstract]
Lease renewal term	5 years

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 11,378	$ 11,317
Variable lease cost	2,827	2,698
Lease or sublease income	(2,383)	(2,309)
Net lease cost	$ 11,822	$ 11,706