Cracker Barrel Old Country Store (CBRL) 10-Q 25 Feb 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jan. 31, 2020	Feb. 19, 2020
Cover [Abstract]
Entity Registrant Name	Cracker Barrel Old Country Store, Inc.
Entity Central Index Key	0001067294
Current Fiscal Year End Date	--08-02
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		23,943,248
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-25225
Entity Tax Identification Number	62-0812904
Entity Incorporation, State or Country Code	TN
Entity Address, Address Line One	305 Hartmann Drive
Entity Address, City or Town	Lebanon
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37087-4779
City Area Code	615
Local Phone Number	444-5533
Title of 12(b) Security	Common Stock (Par Value $0.01)
Trading Symbol	CBRL
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jan. 31, 2020	Aug. 02, 2019	[1]
Current Assets:
Cash and cash equivalents	$ 72,840	$ 36,884
Accounts receivable	20,778	22,757
Income taxes receivable	5,907	9,449
Inventories	157,352	154,958
Prepaid expenses and other current assets	29,193	18,332
Total current assets	286,070	242,380
Property and equipment	2,362,226	2,312,815
Less: Accumulated depreciation and amortization	1,185,479	1,143,850
Property and equipment - net	1,176,747	1,168,965
Operating lease right-of-use assets, net	465,685	0
Investment in unconsolidated subsidiary	79,536	89,100
Goodwill	6,364	0
Other assets	122,514	80,780
Total assets	2,136,916	1,581,225
Current Liabilities:
Accounts payable	123,318	132,221
Deferred revenue	107,102	81,734
Current operating lease liabilities	49,522	0
Other current liabilities	164,942	178,519
Total current liabilities	444,884	392,474
Long-term debt	460,000	400,000
Long-term operating lease liabilities	460,840	0
Long-term interest rate swap liability	13,479	10,483
Other long-term obligations	72,448	129,439
Deferred income taxes	55,335	44,119
Commitments and Contingencies (Note 13)
Shareholders' Equity:
Preferred stock - 100,000,000 shares of $0.01 par value authorized; 300,000 shares designated as Series A Junior Participating Preferred Stock; no shares issued	0	0
Common stock - 400,000,000 shares of $0.01 par value authorized; 23,943,248 shares issued and outstanding at January 31, 2020, and 24,049,240 shares issued and outstanding at August 2, 2019	240	241
Additional paid-in capital	31,659	49,732
Accumulated other comprehensive loss	(9,400)	(6,913)
Retained earnings	607,431	561,650
Total shareholders' equity	629,930	604,710
Total liabilities and shareholders' equity	$ 2,136,916	$ 1,581,225
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2020	Aug. 02, 2019
Shareholders' Equity:
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	23,943,248	24,049,240
Common stock, shares outstanding (in shares)	23,943,248	24,049,240
Series A Junior Participating Preferred Stock [Member]
Shareholders' Equity:
Preferred stock, shares authorized (in shares)	300,000	300,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2020	Feb. 01, 2019	Jan. 31, 2020	Feb. 01, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) [Abstract]
Total revenue	$ 846,143	$ 811,707	$ 1,595,183	$ 1,545,250
Cost of goods sold (exclusive of depreciation and rent)	272,207	265,179	492,021	487,472
Labor and other related expenses	284,777	276,774	548,091	534,933
Other store operating expenses	171,638	156,819	334,546	309,297
General and administrative expenses	38,386	36,224	78,017	75,159
Operating income	79,135	76,711	142,508	138,389
Interest expense	3,505	4,177	7,085	8,526
Income before income taxes	75,630	72,534	135,423	129,863
Provision for income taxes	10,878	11,779	21,468	21,901
Loss from unconsolidated subsidiary	(3,584)	0	(9,564)	0
Net income	$ 61,168	$ 60,755	$ 104,391	$ 107,962
Net income per share:
Basic (in dollars per share)	$ 2.55	$ 2.53	$ 4.35	$ 4.49
Diluted (in dollars per share)	$ 2.55	$ 2.52	$ 4.34	$ 4.48
Weighted average shares:
Basic (in shares)	23,950,811	24,040,374	23,994,583	24,031,480
Diluted (in shares)	24,005,817	24,093,725	24,054,870	24,083,723

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2020	Feb. 01, 2019	Jan. 31, 2020	Feb. 01, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net income	$ 61,168	$ 60,755	$ 104,391	$ 107,962
Other comprehensive loss before income tax benefit:
Change in fair value of interest rate swaps	(2,690)	(5,371)	(3,235)	(3,672)
Income tax benefit	(641)	(1,332)	(748)	(926)
Other comprehensive loss, net of tax	(2,049)	(4,039)	(2,487)	(2,746)
Comprehensive income (loss)	$ 59,119	$ 56,716	$ 101,904	$ 105,216

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Balance at Aug. 03, 2018	$ 240	$ 44,049	$ 4,685	$ 532,807	$ 581,781
Balance (in shares) at Aug. 03, 2018	24,011,550
Comprehensive Income (Loss):
Net income	$ 0	0	0	47,207	47,207
Other comprehensive income (loss), net of tax	0	0	1,293	0	1,293
Comprehensive income (loss)	0	0	1,293	47,207	48,500
Cash dividends declared	0	0	0	(30,176)	(30,176)
Share-based compensation	0	2,089	0	0	2,089
Issuance of share-based compensation awards, net of shares withheld for employee taxes	$ 0	(2,016)	0	0	(2,016)
Issuance of share-based compensation awards, net of shares withheld for employee taxes (in shares)	22,825
Balance at Nov. 02, 2018	$ 240	44,122	5,978	549,838	600,178
Balance (in shares) at Nov. 02, 2018	24,034,375
Balance at Aug. 03, 2018	$ 240	44,049	4,685	532,807	581,781
Balance (in shares) at Aug. 03, 2018	24,011,550
Comprehensive Income (Loss):
Net income					107,962
Other comprehensive income (loss), net of tax					(2,746)
Comprehensive income (loss)					105,216
Balance at Feb. 01, 2019	$ 240	46,125	1,939	580,314	628,618
Balance (in shares) at Feb. 01, 2019	24,041,374
Balance at Nov. 02, 2018	$ 240	44,122	5,978	549,838	600,178
Balance (in shares) at Nov. 02, 2018	24,034,375
Comprehensive Income (Loss):
Net income	$ 0	0	0	60,755	60,755
Other comprehensive income (loss), net of tax	0	0	(4,039)	0	(4,039)
Comprehensive income (loss)	0	0	(4,039)	60,755	56,716
Cash dividends declared	0	0	0	(30,279)	(30,279)
Share-based compensation	0	2,044	0	0	2,044
Issuance of share-based compensation awards, net of shares withheld for employee taxes	$ 0	(41)	0	0	(41)
Issuance of share-based compensation awards, net of shares withheld for employee taxes (in shares)	6,999
Balance at Feb. 01, 2019	$ 240	46,125	1,939	580,314	628,618
Balance (in shares) at Feb. 01, 2019	24,041,374
Balance at Aug. 02, 2019	$ 241	49,732	(6,913)	561,650	$ 604,710	[1]
Balance (in shares) at Aug. 02, 2019	24,049,240				24,049,240
Comprehensive Income (Loss):
Net income	$ 0	0	0	43,223	$ 43,223
Other comprehensive income (loss), net of tax	0	0	(438)	0	(438)
Comprehensive income (loss)	0	0	(438)	43,223	42,785
Cash dividends declared	0	0	0	(31,452)	(31,452)
Share-based compensation	0	1,798	0	0	1,798
Issuance of share-based compensation awards, net of shares withheld for employee taxes	$ 0	(1,994)	0	0	(1,994)
Issuance of share-based compensation awards, net of shares withheld for employee taxes (in shares)	18,466
Purchases and retirement of common stock	$ (1)	(14,187)	0	0	(14,188)
Purchases and retirement of common stock (in shares)	(91,748)
Balance at Nov. 01, 2019	$ 240	35,349	(7,351)	577,546	605,784
Balance (in shares) at Nov. 01, 2019	23,975,958
Balance at Aug. 02, 2019	$ 241	49,732	(6,913)	561,650	$ 604,710	[1]
Balance (in shares) at Aug. 02, 2019	24,049,240				24,049,240
Comprehensive Income (Loss):
Net income					$ 104,391
Other comprehensive income (loss), net of tax					(2,487)
Comprehensive income (loss)					101,904
Balance at Jan. 31, 2020	$ 240	31,659	(9,400)	607,431	$ 629,930
Balance (in shares) at Jan. 31, 2020	23,943,248				23,943,248
Comprehensive Income (Loss):
Cumulative-effect of change in accounting principle	$ 0	0	0	4,125	$ 4,125
Balance at Nov. 01, 2019	$ 240	35,349	(7,351)	577,546	605,784
Balance (in shares) at Nov. 01, 2019	23,975,958
Comprehensive Income (Loss):
Net income	$ 0	0	0	61,168	61,168
Other comprehensive income (loss), net of tax	0	0	(2,049)	0	(2,049)
Comprehensive income (loss)	0	0	(2,049)	61,168	59,119
Cash dividends declared	0	0	0	(31,283)	(31,283)
Share-based compensation	0	2,122	0	0	2,122
Issuance of share-based compensation awards, net of shares withheld for employee taxes	$ 0	0	0	0	0
Issuance of share-based compensation awards, net of shares withheld for employee taxes (in shares)	4,867
Purchases and retirement of common stock	$ 0	(5,812)	0	0	(5,812)
Purchases and retirement of common stock (in shares)	(37,577)
Balance at Jan. 31, 2020	$ 240	$ 31,659	$ (9,400)	$ 607,431	$ 629,930
Balance (in shares) at Jan. 31, 2020	23,943,248				23,943,248
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jan. 31, 2020	Nov. 01, 2019	Feb. 01, 2019	Nov. 02, 2018
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Abstract]
Cash dividends declared (in dollars per share)	$ 1.30	$ 1.30	$ 1.25	$ 1.25

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jan. 31, 2020	Feb. 01, 2019
Cash flows from operating activities:
Net income		$ 104,391	$ 107,962
Net loss from unconsolidated subsidiary		9,564	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		58,277	51,056
Loss on disposition of property and equipment		4,005	5,760
Impairment		664	0
Share-based compensation		3,920	4,133
Noncash lease expense		30,845	0
Changes in assets and liabilities:
Inventories		(2,167)	4,851
Other current assets		(5,005)	(2,334)
Accounts payable		(10,779)	(4,447)
Other current liabilities		6,609	20,641
Other long-term assets and liabilities		(16,320)	3,241
Net cash provided by operating activities		184,004	190,863
Cash flows from investing activities:
Purchase of property and equipment		(58,371)	(70,286)
Proceeds from insurance recoveries of property and equipment		82	457
Proceeds from sale of property and equipment		1,565	91
Notes receivable from unconsolidated subsidiary		(33,000)	0
Acquisition of business, net of cash acquired		(32,971)	0
Net cash used in investing activities		(122,695)	(69,738)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		215,000	400,000
Taxes withheld from issuance of share-based compensation awards		(1,994)	(2,057)
Principal payments under long-term debt		(155,000)	(400,000)
Purchases and retirement of common stock		(20,000)	0
Deferred financing costs		0	(3,022)
Dividends on common stock		(63,359)	(61,138)
Net cash used in financing activities		(25,353)	(66,217)
Net increase in cash and cash equivalents		35,956	54,908
Cash and cash equivalents, beginning of period		36,884	114,656
Cash and cash equivalents, end of period		72,840	169,564
Cash paid during the period for:
Interest, net of amounts capitalized		8,564	4,217
Income taxes		5,277	20,201
Supplemental schedule of non-cash investing and financing activities:
Capital expenditures accrued in accounts payable	[1]	3,244	7,548
Change in fair value of interest rate swaps	[1]	(3,235)	(3,672)
Change in deferred tax asset for interest rate swaps	[1]	748	926
Dividends declared but not yet paid	[1]	$ 32,231	$ 31,093
[1]	*See Note 11 for additional supplemental disclosures related to leases

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	6 Months Ended
	Jan. 31, 2020
Condensed Consolidated Financial Statements [Abstract]
Condensed Consolidated Financial Statements	1. Condensed Consolidated Financial Statements Cracker Barrel Old Country Store, Inc. and its affiliates (collectively, in these Notes to Condensed Consolidated Financial Statements, the “Company”) are principally engaged in the operation and development in the United States of the Cracker Barrel Old Country Store® (“Cracker Barrel”) concept. The accompanying condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) without audit. In the opinion of management, all adjustments (consisting of normal and recurring items) necessary for a fair presentation of such condensed consolidated financial statements have been made. The results of operations for any interim period are not necessarily indicative of results for a full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended August 2, 2019 (the “2019 Form 10-K”). The accounting policies used in preparing these condensed consolidated financial statements are the same as described in the 2019 Form 10-K except for the newly adopted accounting guidance for leases discussed in Note 11. References to a year in these Notes to Condensed Consolidated Financial Statements are to the Company’s fiscal year unless otherwise noted. Recent Accounting Pronouncements Adopted Leases In February 2016, the issued accounting guidance which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. The Company adopted this accounting guidance as of August 3, 2019, using the modified retrospective approach. Under this approach, existing leases were recorded at the adoption date rather than the beginning of the earliest comparative period presented. This approach allows for a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption, and prior periods are not restated. The Company elected the transition package of practical expedients permitted under this guidance, which among other things, allows the carryforward of historical lease classifications. The Company elected to not separate lease and non-lease components for all classes of leased assets. Additionally, the Company elected to apply the short-term lease exemption to all asset classes. The Company chose not to elect the hindsight practical expedient. Adoption of the accounting guidance for leases resulted in the recognition of right-of-use operating lease assets of $ and total operating lease liabilities of $ as of August 3, 2019. The cumulative-effect of applying the accounting guidance for leases resulted in an adjustment to retained earnings of $ at August 3, 2019, related to the elimination of the deferred gains on the Company’s sale-leaseback transactions from 2000 and 2009. See Note 11 for additional information regarding leases. Accounting for Hedging Activities In August 2017, the FASB issued accounting guidance which amends the recognition, presentation and disclosure requirements of hedge accounting in order to better portray the economics of entities’ risk management activities, increase transparency and understandability of hedging relationships and simplify the application of hedge accounting. The adoption of this accounting guidance in the first quarter of 2020 did not have a significant impact on the Company’s consolidated financial position or results of operations, and the Company did not record a cumulative-effect adjustment to the opening balance of retained earnings. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 22, 2017, the U.S. government enacted P.L. 115-97, the Tax Cuts and Jobs Act (the “Tax Act”). In February 2018, the FASB issued accounting guidance which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. This accounting guidance was effective for the Company in the first quarter of 2020. The Company did not elect this reclassification option. As a result, this accounting guidance had no impact on the Company’s consolidated financial position or results of operations. Share-Based Payment Arrangements With Nonemployees In June 2018, the FASB issued accounting guidance in order to simplify the accounting for share-based payments granted to nonemployees for goods and services. This new guidance aligns most of the accounting requirements for share-based payments granted to nonemployees with the existing guidance for share-based payments granted to employees. The adoption of this accounting guidance in the first quarter of 2020 had no impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements Not Adopted Goodwill Impairment In January 2017, the FASB issued accounting guidance related to the subsequent measurement of goodwill. Under this new guidance, an entity will perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. This guidance is effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. This guidance should be applied on a prospective basis. Accounting for Income Taxes In December 2019, the FASB issued accounting guidance in order to simplify the accounting for income taxes. This new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This accounting guidance is effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. In general, entities will apply the new guidance on a prospective basis, except for certain items such as the guidance on franchise taxes that are partially based on income. The guidance on franchise taxes that are partially based on income will be applied either retrospectively for all periods presented or using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2022.

Acquisition

Acquisition	6 Months Ended
	Jan. 31, 2020
Acquisition [Abstract]
Acquisition	2. Acquisition The Company accounts for all transactions that represent business combinations using the acquisition method of accounting, where the identifiable assets acquired and the liabilities assumed are recognized and measured at their fair values on the date the Company obtains control in the acquiree. Such fair values that are not finalized for reporting periods following the acquisition date are estimated and recorded as estimated amounts. Adjustments to these estimated amounts during the measurement period (defined as the date through which all information required to identify and measure the consideration transferred, the assets acquired and the liabilities assumed has been obtained, limited to one year from the acquisition date) are recorded when identified. Goodwill is determined as the excess of the fair value of the consideration conveyed in the acquisition over the fair value of the net assets acquired. Goodwill and other intangibles will be evaluated for impairment annually during each fourth quarter period and when an event occurs or circumstances change that, more likely than not, reduce the fair value of the reporting unit below its carrying value. Effective October 10, 2019, the Company acquired ownership of Maple Street Biscuit Company (“MSBC”), a breakfast and lunch fast casual concept, for a purchase price of $ , of which $ was paid to the sellers in cash with the remaining $ being held as security for the satisfaction of indemnification obligations. The unused portion The Company believes that this investment supports its strategic initiative to extend the brand by becoming a market leader in the breakfast and lunch-focused fast casual dining segment of the restaurant industry and by providing a platform for growth. At January 31, 2020, MSBC had 28 company-owned and five franchised fast casual locations across seven states. The goodwill of $ arising from the acquisition consists largely of the Company’s determination of the value of MSBC’s future free cash flows less the value of the identifiable tangible and intangible assets and liabilities. of the goodwill recognized is expected to be deductible for income tax purposes. Acquisition-related costs of $ were recorded in general and administrative expenses in the condensed consolidated statement of income The following table summarizes the consideration paid for MSBC and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date: Fair value of total consideration transferred $ 36,000 Recognized amounts of identifiable assets acquired and liabilities assumed Financial assets $ 96 Property and equipment 13,580 Operating lease right-of-use assets, net 14,280 Indefinite-lived intangible asset* 19,460 Other current and noncurrent assets 394 Financial liabilities (1,876 ) Operating lease liabilities (15,973 ) Other noncurrent liabilities (325 ) Total identifiable net assets 29,636 Goodwill $ 6,364 * Consists entirely of MSBC’s Tradename All amounts recorded for the assets acquired, liabilities assumed and goodwill are provisional and are subject to revision as additional information about the fair value of assets acquired and liabilities assumed becomes available. We expect the final purchase price allocation to be completed in the first quarter of 2021.

Equity Method Investment

Equity Method Investment	6 Months Ended
	Jan. 31, 2020
Equity Method Investment [Abstract]
Equity Method Investment	3. Equity Method Investment Effective July 18, 2019, the Company purchased approximately of the economic ownership interest, and approximately of the voting interest, in PBS HoldCo, LLC (“PBS HC”). PBS HC and its subsidiaries develop, own, and operate food, beverage and entertainment establishments under the name of Punch Bowl Social (“PBS”). The Company does not have the power to unilaterally direct any activities of PBS HC, a variable interest entity, that most significantly impact PBS HC’s economic performance. As a result, the Company’s investment in PBS HC, for which it has the ability to exercise significant influence, but not control and is not the primary beneficiary, is accounted for using the equity method. Accordingly, the Company recognizes its proportionate share of the reported earnings or losses of PBS HC adjusted for basis differences on its consolidated statements of income and as an adjustment to the Company’s investment in unconsolidated subsidiary on the consolidated balance sheet. The Company will assess the impairment of its equity investment whenever events or changes in circumstances indicate that a decrease in value of the investment has occurred that is other than temporary. The Company’s investment in PBS HC was $ and $ , respectively at January 31, 2020 and August 2, 2019, and is recorded on the Company’s condensed consolidated balance sheet as investment in unconsolidated subsidiary. Additionally, as part of the purchase transaction, the Company purchased promissory notes of $ along with the related interest on the notes and provided additional funding of $ to PBS HC in exchange for a promissory note. As part of the purchase agreement with PBS HC, the Company agreed to fund PBS HC up to $ through calendar 2020, of which the Company has funded $ and $ , respectively, as of January 31, 2020 and August 2, 2019. The related promissory notes are included in other assets on the condensed consolidated balance sheet. The Company’s exposure to risk of loss in PBS HC is generally limited to its investment in the ownership interest and its receivable related to the promissory notes.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 31, 2020
Fair Value Measurements [Abstract]
Fair Value Measurements	4. Fair Value Measurements The Company’s assets and liabilities measured at fair value on a recurring basis at January 31, 2020 were as follows: Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 34,401 $ — $ — $ 34,401 Deferred compensation plan assets** 32,758 Total assets at fair value $ 67,159 Interest rate swap liability (see Note 7) $ — $ 13,479 $ — $ 13,479 Total liabilities at fair value $ — $ 13,479 $ — $ 13,479 The Company’s assets and liabilities measured at fair value on a recurring basis at August 2, 2019 were as follows: Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 46 $ — $ — $ 46 Deferred compensation plan assets** 30,593 Total assets at fair value $ 30,639 Interest rate swap liability (see Note 7) $ — $ 10,483 $ — $ 10,483 Total liabilities at fair value $ — $ 10,483 $ — $ 10,483 *Consists of money market fund investments. ** Represents plan assets invested in mutual funds established under a rabbi trust for the Company’s non-qualified savings plan and is included in the Condensed Consolidated Balance Sheets as other assets. The Company’s money market fund investments are measured at fair value using quoted market prices. The fair values of the Company’s interest rate swap liabilities are determined based on the present value of expected future cash flows. Since the values of the Company’s interest rate swaps are based on the LIBOR forward curve, which is observable at commonly quoted intervals for the full terms of the swaps, it is considered a Level 2 input. Non-performance risk is reflected in determining the fair value of the interest rate swaps by using the Company’s credit spread less the risk-free interest rate, both of which are observable at commonly quoted intervals for the terms of the swaps. Thus, the adjustment for non-performance risk is also considered a Level 2 input. The Company’s deferred compensation plan assets are measured based on net asset value per share as a practical expedient to estimate fair value. The fair values of the Company’s accounts receivable and accounts payable approximate their carrying amounts because of their short duration. The fair value of the Company’s variable rate debt, based on quoted market prices, which are considered Level 1 inputs, approximates its carrying amount at January 31, 2020 and August 2, 2019. Assets Measured at Fair Value on a Nonrecurring Basis As part of the Company’s acquisition of MSBC effective October the Company recorded MSBC’s property and equipment and the MSBC tradename at fair value. The remaining identifiable assets and liabilities acquired were recorded at carrying value, which approximated their fair value at October Additionally, goodwill was recorded as the excess of fair value of the consideration conveyed in the acquisition over the fair value of the net assets acquired. The fair value of MSBC’s property and equipment, tradename and the related goodwill are considered Level inputs. The valuation method used by the Company depends on the type of asset and the availability of data. The Company’s assets measured at fair value on a nonrecurring basis as of October 10, 2019 were as follows: Level Level Level Total Fair Value Property and equipment $ — $ — $ 13,580 $ 13,580 Tradename* — — 19,460 19,460 Goodwill — — 6,364 6,364 Total $ — $ — $ 39,404 $ 39,404 * Included in the Condensed Consolidated Balance Sheets as other assets. As noted in Note above, the amounts recorded for these assets are estimated. See Note for further information in regards to the determination of goodwill. The fair value of the property and equipment was determined by using the cost approach. Assumptions used in the cost method included estimates of replacement costs for similar property and equipment. Replacement cost was estimated to be approximately per MSBC store. The fair value of MSBC’s tradename was determined by using the present value of estimated cash flows from comparable industry royalty rates for MSBC’s estimated future revenue streams. Assumptions used under this approach included an approximate 2.5% royalty rate and a discount rate of 12.0%.

Inventories

Inventories	6 Months Ended
	Jan. 31, 2020
Inventories [Abstract]
Inventories	5. Inventories Inventories were comprised of the following at: January 31, 2020 August 2, 2019 Retail $ 116,389 $ 116,990 Restaurant 22,817 20,648 Supplies 18,146 17,320 Total $ 157,352 $ 154,958

Debt

Debt	6 Months Ended
	Jan. 31, 2020
Debt [Abstract]
Debt	6. Debt On September 5, 2018, the Company entered into a five-year $950,000 revolving credit facility (“2019 Revolving Credit Facility”). The 2019 Revolving Credit Facility also contains an option to increase the revolving credit facility by $300,000. At January 31, 2020 and August 2, 2019, the Company had $460,000 and $400,000, respectively, of outstanding borrowings under the 2019 Revolving Credit Facility. At January 31, 2020, the Company had $6,879 of standby letters of credit, which reduce the Company’s borrowing availability under the 2019 Revolving Credit Facility (see Note 13 for more information on the Company’s standby letters of credit). At January 31, 2020, the Company had $483,121 in borrowing availability under the 2019 Revolving Credit Facility. In accordance with the 2019 Revolving Credit Facility, outstanding borrowings bear interest, at the Company’s election, either at LIBOR or prime plus a percentage point spread based on certain specified financial ratios under the 2019 Revolving Credit Facility. At January 31, 2020, $400,000 of the Company’s outstanding borrowings were swapped at a weighted average interest rate of 3.61% (see Note 7 for information on the Company’s interest rate swaps). At January 31, 2020, the weighted average interest rate on the remaining $60,000 of the Company’s outstanding borrowings was 3.13%. The 2019 Revolving Credit Facility contains customary financial covenants, which include maintenance of a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio. At January 31, 2020, the Company was in compliance with all financial covenants. The 2019 Revolving Credit Facility also imposes restrictions on the amount of dividends the Company is permitted to pay and the amount of shares the Company is permitted to repurchase. Under the 2019 Revolving Credit Facility, provided there is no default existing and the total of the Company’s availability under the 2019 Revolving Credit Facility plus the Company’s cash and cash equivalents on hand is at least $100,000 (the “cash availability”), the Company may declare and pay cash dividends on shares of its common stock and repurchase shares of its common stock (1) in an unlimited amount if, at the time such dividend or repurchase is made, the Company’s consolidated total leverage ratio is 3.00 to 1.00 or less and (2) in an aggregate amount not to exceed $100,000 in any fiscal year if the Company’s consolidated total leverage ratio is greater than 3.00 to 1.00 at the time the dividend or repurchase is made; notwithstanding (1) and (2), so long as immediately after giving effect to the payment of any such dividends, cash availability is at least $100,000, the Company may declare and pay cash dividends on shares of its common stock in an aggregate amount not to exceed in any fiscal year the product of the aggregate amount of dividends declared in the fourth quarter of the immediately preceding fiscal year multiplied by four.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jan. 31, 2020
Derivative Instruments and Hedging Activities [Abstract]
Derivative Instruments and Hedging Activities	7. Derivative Instruments and Hedging Activities The Company has interest rate risk relative to its outstanding borrowings (see Note 6 for information on the Company’s outstanding borrowings). The Company’s policy has been to manage interest cost using a mix of fixed and variable rate debt. To manage this risk in a cost-efficient manner, the Company uses derivative instruments, specifically interest rate swaps. For each of the Company’s interest rate swaps, the Company has agreed to exchange with a counterparty the difference between fixed and variable interest amounts calculated by reference to an agreed-upon notional principal amount. The interest rates on the portion of the Company’s outstanding debt covered by its interest rate swaps are fixed at the rates in the table below plus the Company’s credit spread. The Company’s credit spread at January 31, 2020 was 1.25%. All of the Company’s interest rate swaps are accounted for as cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction affects earnings and is presented in the same statement of income line item as the earnings effect of the hedged item. Gains and losses on the derivative instrument representing hedge components excluded from the assessment of effectiveness, if any, will be recognized currently in earnings in the same statement of income line item as the earnings effect of the hedged item. The Company does not hold or use derivative instruments for trading purposes. The Company also does not have any derivatives not designated as hedging instruments and has not designated any non-derivatives as hedging instruments. Companies may elect to offset related assets and liabilities and report the net amount on their financial statements if the right of setoff exists. Under a master netting agreement, the Company has the legal right to offset the amounts owed to the Company against amounts owed by the Company under a derivative instrument that exists between the Company and a counterparty. When the Company is engaged in more than one outstanding derivative transaction with the same counterparty and also has a legally enforceable master netting agreement with that counterparty, its credit risk exposure is based on the net exposure under the master netting agreement. If, on a net basis, the Company owes the counterparty, the Company regards its credit exposure to the counterparty as being zero. A summary of the Company’s interest rate swaps at January 31, 2020 is as follows: Trade Date Effective Date Term (in Years) Notional Amount Fixed Rate January 30, 2015 May 3, 2019 2.0 $ 60,000 2.16 % January 30, 2015 May 4, 2021 3.0 120,000 2.41 % January 30, 2015 May 3, 2019 2.0 60,000 2.15 % January 30, 2015 May 4, 2021 3.0 80,000 2.40 % January 16, 2019 May 3, 2019 3.0 115,000 2.63 % January 16, 2019 May 3, 2019 2.0 115,000 2.68 % August 6, 2019 November 4, 2019 2.5 50,000 1.50 % August 7, 2019 May 3, 2021 1.0 35,000 1.32 % August 7, 2019 May 3, 2022 2.0 100,000 1.40 % August 7, 2019 May 3, 2022 2.0 100,000 1.36 % The estimated fair value of the Company’s derivative instruments as of January 31, 2020 and August 2, 2019 were as follows: (See Note 4) Balance Sheet Location January 31, 2020 August 2, 2019 Interest rate swaps Long-term interest rate swap liability $ 13,479 $ 10,483 Total liabilities $ 13,479 $ 10,483 ** These interest rate swap liabilities are recorded gross at both January 31, 2020 and August 2, 2019 since there were no offsetting assets under the Company’s master netting agreements. The estimated fair value of the Company’s interest rate swap liabilities incorporate the Company’s non-performance risk (see Note 4). The adjustment related to the Company’s non-performance risk at January 31, 2020 and August 2, 2019 resulted in reductions of $358 and $399, respectively, in the fair value of the interest rate swap liabilities. The offset to the interest rate swap liabilities are recorded in accumulated other comprehensive loss (“AOCL”), net of the deferred tax asset, and will be reclassified into earnings over the term of the underlying debt. As of January 31, 2020, the estimated pre-tax portion of AOCL that is expected to be reclassified into earnings over the next twelve months is $1,721. Cash flows related to the interest rate swaps are included in interest expense in the Condensed Consolidated Statements of Income and in operating activities in the Condensed Consolidated Statements of Cash Flows. The following table summarizes the pre-tax effects of the Company’s derivative instruments on AOCL for the six months ended January 31, 2020 and the year ended August 2, 2019: Amount of Loss Recognized in AOCL on Derivatives Six Months Ended January 31, 2020 Year Ended August 2, 2019 Cash flow hedges: Interest rate swaps $ (3,235 ) $ (15,466 ) The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six-month periods ended January 31, 2020 and February 1, 2019: Location of Loss Reclassified from AOCL into Income (Effective Portion) Amount of Loss Reclassified from AOCL into Income (Effective Portion) Quarter Ended Six Months Ended January 31, 2020 February 1, 2019 January 31, 2020 February 1, 2019 Cash flow hedges: Interest rate swaps Interest expense $ 176 $ 141 $ 94 $ 141 The following table summarizes the amounts reclassified out of AOCL related to the Company’s interest rate swaps for the quarter and six months ended January 31, 2020: Amount Reclassified from AOCL Affected Line Item in the Quarter Ended Six Months Ended Condensed Consolidated Financial Statements Loss on cash flow hedges: Interest rate swaps $ (176 ) $ (94 ) Interest expense Tax benefit 44 24 Provision for income taxes $ (132 ) $ (70 ) Net of tax No gains or losses representing amounts excluded from the assessment of effectiveness were recognized in earnings for the six months ended January 31, 2020. The following table summarizes the changes in AOCL, net of tax, related to the Company’s interest rate swaps for the six months ended January 31, 2020: Changes in AOCL AOCL balance at August 2, 2019 $ (6,913 ) Other comprehensive loss before reclassifications (2,417 ) Amounts reclassified from AOCL (70 ) Other comprehensive loss, net of tax (2,487 ) AOCL balance at January 31, 2020 $ (9,400 )

Seasonality

Seasonality	6 Months Ended
	Jan. 31, 2020
Seasonality [Abstract]
Seasonality	8. Seasonality Historically, the net income of the Company has been lower in the first and third quarters and higher in the second and fourth quarters. Management attributes these variations to the holiday shopping season and the summer vacation and travel season. The Company's retail sales, which are made substantially to the Company’s restaurant customers, historically have been highest in the Company's second quarter, which includes the holiday shopping season. Historically, interstate tourist traffic and the propensity to dine out have been higher during the summer months, thereby contributing to higher profits in the Company’s fourth quarter. The Company generally opens additional new locations throughout the year. Therefore, the results of operations for any interim period cannot be considered indicative of the operating results for an entire year.

Segment Information

Segment Information	6 Months Ended
	Jan. 31, 2020
Segment Information [Abstract]
Segment Information	9. Segment Information Cracker Barrel stores represent a single, integrated operation with two related and substantially integrated product lines. The operating expenses of the restaurant and retail product lines of a Cracker Barrel store are shared and are indistinguishable in many respects. Accordingly, the Company currently manages its business on the basis of one reportable operating segment. All of the Company’s operations are located within the United States.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jan. 31, 2020
Revenue Recognition [Abstract]
Revenue Recognition	10. Revenue Recognition Revenue consists primarily of sales from restaurant and retail operations. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a restaurant guest, retail customer or other customer. The Company’s policy is to present sales in the Condensed Consolidated Statements of Income on a net presentation basis after deducting sales tax. Disaggregation of revenue Total revenue was comprised of the following for the specified periods: Quarter Ended Six Months Ended January 31, 2020 February 1, 2019 January 31, 2020 February 1, 2019 Revenue: Restaurant $ 663,043 $ 631,175 $ 1,270,122 $ 1,222,153 Retail 183,100 180,532 325,061 323,097 Total revenue $ 846,143 $ 811,707 $ 1,595,183 $ 1,545,250 Restaurant Revenue The Company recognizes revenues from restaurant sales when payment is tendered at the point of sale, as the Company’s performance obligation to provide food and beverages is satisfied. Retail Revenue The Company recognizes revenues from retail sales when payment is tendered at the point of sale, as the Company’s performance obligation to provide merchandise is satisfied. Ecommerce sales, including shipping revenue, are recorded upon delivery to the customer. Additionally, estimated sales returns are calculated based on return history and sales levels. Gift Card Breakage Included in restaurant and retail revenue is gift card breakage. Customer purchases of gift cards, to be utilized at the Company's stores, are not recognized as sales until the card is redeemed and the customer purchases food and/or merchandise. Gift cards do not carry an expiration date; therefore, customers can redeem their gift cards indefinitely. A certain number of gift cards will not be fully redeemed. Management estimates unredeemed balances and recognizes gift card breakage revenue for these amounts in the Company's Condensed Consolidated Statements of Income over the expected redemption period. Deferred revenue related to the Company’s gift cards was and respectively, at January and August Revenue recognized in the Condensed Consolidated Statements of Income for the months ended January and February respectively, for the redemption of gift cards which were included in the deferred revenue balance at the beginning of the fiscal year was and

Leases

Leases	6 Months Ended
	Jan. 31, 2020
Leases [Abstract]
Leases	11. Leases The Company has ground leases for its leased stores and office space leases that are recorded as operating leases under various non-cancellable operating leases. The Company also leases advertising billboards, vehicle fleets, and certain equipment under various non-cancellable operating leases. Additionally, the Company also completed sale-leaseback transactions in 2000 and 2009. In 2009, the Company completed sale-leaseback transactions involving 15 of its owned stores and its retail distribution center. Under the transactions, the land, buildings and improvements at the locations were sold and leased back for terms of 20 and 15 years, respectively. Equipment was not included. The leases include specified renewal options for up to 20 additional years. In 2000, the Company completed a sale-leaseback transaction involving 65 of its owned stores. Under the transaction, the land, buildings and building improvements at the locations were sold and leased back for a term of 21 years. The leases for these stores include specified renewal options for up to 20 additional years and certain financial covenants which include maintenance of a minimum fixed charge coverage for the leased stores. At January 31, 2020 and August 2, 2019, the Company was in compliance with these covenants. To determine whether a contract is or contains a lease, the Company determines at contract inception whether it contains the right to control the use of an identified asset for a period of time in exchange for consideration. If the contract has the right to obtain substantially all of the economic benefit from use of the identified asset and the right to direct the use of the identified asset, the Company recognizes a right-of-use asset and lease liability. The Company’s leases all have varying terms and expire at various dates through 2055. Restaurant leases typically have base terms of ten years with four to five optional renewal periods of five years each. The Company uses a lease life that generally begins on the commencement date, including the rent holiday periods, and generally extends through certain renewal periods that can be exercised at the Company’s option. The Company has included lease renewal options in the lease term for calculations of the right-of-use asset and liability for which at the commencement of the lease it is reasonably certain that the Company will exercise those renewal options. Additionally, some of the leases have contingent rent provisions and others require adjustments for inflation or index. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company has entered into agreements for real estate leases that are not recorded as right-of-use assets or lease liabilities as we have not yet taken possession. These leases are expected to commence in the in 2021 with undiscounted future payments of $15,900. As further discussed in Note 1 under the lease discussion in the “Recent Accounting Standards Adopted” section, the Company has elected to not separate lease and non-lease components. Additionally, the Company has elected to apply the short term lease exemption to all asset classes and the short term lease expense for the period reasonably reflects the short term lease commitments. As the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at the time of commencement or modification date in determining the present value of lease payments. For operating leases that commenced prior to the date of adoption of the new lease accounting guidance, we used the incremental borrowing rate as of the adoption date. Assumptions used in determining the Company’s incremental borrowing rate include the Company’s implied credit rating and an estimate of secured borrowing rates based on comparable market data. The following table summarizes the components of lease cost for operating leases for the quarter and six months ended January 31, 2020: Quarter Ended January 31, 2020 Six Months Ended January 31, 2020 Operating lease cost $ 20,462 $ 40,318 Short term lease cost 1,892 2,276 Variable lease cost 479 930 Total lease cost $ 22,833 $ 43,524 The following table summarizes supplemental cash flow information and non-cash activity related to the Company’s operating leases for the quarter and six months ended January 31, 2020: Quarter Ended January 31, 2020 Six Months Ended January 31, 2020 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 20,286 $ 39,832 Noncash information: Right-of-use assets obtained in exchange for new operating lease liabilities 601 4,439 Lease modifications granting additional right-of-use assets 5,691 12,517 Lease modifications removing right-of-use assets (280 ) (929 ) The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of January 31, 2020: Weighted-average remaining lease term 18.04 Years Weighted-average discount rate 3.86 % The following table summarizes the maturities of undiscounted cash flows reconciled to the total lease liability as of January 31, 2020: Year Total Remainder of 2020 $ 39,873 2021 50,982 2022 41,429 2023 37,390 2024 36,726 Thereafter 533,084 Total future minimum lease payments 739,484 Less imputed remaining interest (229,122 ) Total present value of operating lease liabilities $ 510,362 The following table summarizes the maturities of lease commitments as of August 2, 2019, prior to the adoption of the new lease guidance, as previously disclosed in our 2019 Form 10-K: Year Total 2020 $ 69,249 2021 40,962 2022 36,280 2023 33,639 2024 34,020 Thereafter 515,169 Total $ 729,319

Net Income Per Share and Weight

Net Income Per Share and Weighted Average Shares	6 Months Ended
	Jan. 31, 2020
Net Income Per Share and Weighted Average Shares [Abstract]
Net Income Per Share and Weighted Average Shares	12. Net Income Per Share and Weighted Average Shares Basic consolidated net income per share is computed by dividing consolidated net income available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period. Diluted consolidated net income per share reflects the potential dilution that could occur if securities, options or other contracts to issue shares of common stock were exercised or converted into shares of common stock and is based upon the weighted average number of shares of common stock and common equivalent shares outstanding during the reporting period. Common equivalent shares related to nonvested stock awards and units issued by the Company are calculated using the treasury stock method. The outstanding nonvested stock awards and units issued by the Company represent the only dilutive effects on diluted consolidated net income per share. The following table reconciles the components of diluted earnings per share computations: Quarter Ended Six Months Ended January 31, 2020 February 1, 2019 January 31, 2020 February 1, 2019 Net income per share numerator $ 61,168 $ 60,755 $ 104,391 $ 107,962 Net income per share denominator: Weighted average shares 23,950,811 24,040,374 23,994,583 24,031,480 Add potential dilution: Nonvested stock awards and units 55,006 53,351 60,287 52,243 Diluted weighted average shares 24,005,817 24,093,725 24,054,870 24,083,723

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jan. 31, 2020
Commitments and Contingencies [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies The Company and its subsidiaries are party to various legal and regulatory proceedings and claims incidental to their business in the ordinary course. In the opinion of management, based upon information currently available, the ultimate liability with respect to these contingencies will not materially affect the Company’s financial statements. Related to its workers’ compensation insurance coverage, the Company is contingently liable pursuant to standby letters of credit as credit guarantees to certain insurers. As of January 31, 2020, the Company had $6,879 of standby letters of credit related to securing reserved claims under workers’ compensation insurance. All standby letters of credit are renewable annually and reduce the Company’s borrowing availability under its 2019 Revolving Credit Facility (see Note 6). At January 31, 2020, the Company is secondarily liable for lease payments associated with two properties occupied by a third party. The Company is not aware of any non-performance under these lease arrangements that would result in the Company having to perform in accordance with the terms of these guarantees; and therefore, no provision has been recorded in the Condensed Consolidated Balance Sheets for amounts to be paid in case of non-performance by the primary obligor under such lease arrangements. The Company enters into certain indemnification agreements in favor of third parties in the ordinary course of business. The Company believes that the probability of incurring an actual liability under such indemnification agreements is sufficiently remote that no such liability has been recorded in the Condensed Consolidated Balance Sheet as of January 31, 2020.

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statements (Policies)	6 Months Ended
	Jan. 31, 2020
Condensed Consolidated Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Leases In February 2016, the issued accounting guidance which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. The Company adopted this accounting guidance as of August 3, 2019, using the modified retrospective approach. Under this approach, existing leases were recorded at the adoption date rather than the beginning of the earliest comparative period presented. This approach allows for a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption, and prior periods are not restated. The Company elected the transition package of practical expedients permitted under this guidance, which among other things, allows the carryforward of historical lease classifications. The Company elected to not separate lease and non-lease components for all classes of leased assets. Additionally, the Company elected to apply the short-term lease exemption to all asset classes. The Company chose not to elect the hindsight practical expedient. Adoption of the accounting guidance for leases resulted in the recognition of right-of-use operating lease assets of $ and total operating lease liabilities of $ as of August 3, 2019. The cumulative-effect of applying the accounting guidance for leases resulted in an adjustment to retained earnings of $ at August 3, 2019, related to the elimination of the deferred gains on the Company’s sale-leaseback transactions from 2000 and 2009. See Note 11 for additional information regarding leases. Accounting for Hedging Activities In August 2017, the FASB issued accounting guidance which amends the recognition, presentation and disclosure requirements of hedge accounting in order to better portray the economics of entities’ risk management activities, increase transparency and understandability of hedging relationships and simplify the application of hedge accounting. The adoption of this accounting guidance in the first quarter of 2020 did not have a significant impact on the Company’s consolidated financial position or results of operations, and the Company did not record a cumulative-effect adjustment to the opening balance of retained earnings. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income On December 22, 2017, the U.S. government enacted P.L. 115-97, the Tax Cuts and Jobs Act (the “Tax Act”). In February 2018, the FASB issued accounting guidance which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. This accounting guidance was effective for the Company in the first quarter of 2020. The Company did not elect this reclassification option. As a result, this accounting guidance had no impact on the Company’s consolidated financial position or results of operations. Share-Based Payment Arrangements With Nonemployees In June 2018, the FASB issued accounting guidance in order to simplify the accounting for share-based payments granted to nonemployees for goods and services. This new guidance aligns most of the accounting requirements for share-based payments granted to nonemployees with the existing guidance for share-based payments granted to employees. The adoption of this accounting guidance in the first quarter of 2020 had no impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements Not Adopted Goodwill Impairment In January 2017, the FASB issued accounting guidance related to the subsequent measurement of goodwill. Under this new guidance, an entity will perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. This guidance is effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. This guidance should be applied on a prospective basis. Accounting for Income Taxes In December 2019, the FASB issued accounting guidance in order to simplify the accounting for income taxes. This new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This accounting guidance is effective for public business entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. In general, entities will apply the new guidance on a prospective basis, except for certain items such as the guidance on franchise taxes that are partially based on income. The guidance on franchise taxes that are partially based on income will be applied either retrospectively for all periods presented or using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2022.

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
	Jan. 31, 2020
Acquisition [Abstract]
Considerations Paid and Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid for MSBC and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date: Fair value of total consideration transferred $ 36,000 Recognized amounts of identifiable assets acquired and liabilities assumed Financial assets $ 96 Property and equipment 13,580 Operating lease right-of-use assets, net 14,280 Indefinite-lived intangible asset* 19,460 Other current and noncurrent assets 394 Financial liabilities (1,876 ) Operating lease liabilities (15,973 ) Other noncurrent liabilities (325 ) Total identifiable net assets 29,636 Goodwill $ 6,364 * Consists entirely of MSBC’s Tradename

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jan. 31, 2020
Fair Value Measurements [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The Company’s assets and liabilities measured at fair value on a recurring basis at January 31, 2020 were as follows: Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 34,401 $ — $ — $ 34,401 Deferred compensation plan assets** 32,758 Total assets at fair value $ 67,159 Interest rate swap liability (see Note 7) $ — $ 13,479 $ — $ 13,479 Total liabilities at fair value $ — $ 13,479 $ — $ 13,479 The Company’s assets and liabilities measured at fair value on a recurring basis at August 2, 2019 were as follows: Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 46 $ — $ — $ 46 Deferred compensation plan assets** 30,593 Total assets at fair value $ 30,639 Interest rate swap liability (see Note 7) $ — $ 10,483 $ — $ 10,483 Total liabilities at fair value $ — $ 10,483 $ — $ 10,483 *Consists of money market fund investments. ** Represents plan assets invested in mutual funds established under a rabbi trust for the Company’s non-qualified savings plan and is included in the Condensed Consolidated Balance Sheets as other assets.
Assets Measured at Fair Value on a Nonrecurring Basis	The Company’s assets measured at fair value on a nonrecurring basis as of October 10, 2019 were as follows: Level Level Level Total Fair Value Property and equipment $ — $ — $ 13,580 $ 13,580 Tradename* — — 19,460 19,460 Goodwill — — 6,364 6,364 Total $ — $ — $ 39,404 $ 39,404 * Included in the Condensed Consolidated Balance Sheets as other assets.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jan. 31, 2020
Inventories [Abstract]
Inventories	Inventories were comprised of the following at: January 31, 2020 August 2, 2019 Retail $ 116,389 $ 116,990 Restaurant 22,817 20,648 Supplies 18,146 17,320 Total $ 157,352 $ 154,958

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jan. 31, 2020
Derivative Instruments and Hedging Activities [Abstract]
Interest Rate Swaps	A summary of the Company’s interest rate swaps at January 31, 2020 is as follows: Trade Date Effective Date Term (in Years) Notional Amount Fixed Rate January 30, 2015 May 3, 2019 2.0 $ 60,000 2.16 % January 30, 2015 May 4, 2021 3.0 120,000 2.41 % January 30, 2015 May 3, 2019 2.0 60,000 2.15 % January 30, 2015 May 4, 2021 3.0 80,000 2.40 % January 16, 2019 May 3, 2019 3.0 115,000 2.63 % January 16, 2019 May 3, 2019 2.0 115,000 2.68 % August 6, 2019 November 4, 2019 2.5 50,000 1.50 % August 7, 2019 May 3, 2021 1.0 35,000 1.32 % August 7, 2019 May 3, 2022 2.0 100,000 1.40 % August 7, 2019 May 3, 2022 2.0 100,000 1.36 %
Estimated Fair Value of Derivative Instruments	The estimated fair value of the Company’s derivative instruments as of January 31, 2020 and August 2, 2019 were as follows: (See Note 4) Balance Sheet Location January 31, 2020 August 2, 2019 Interest rate swaps Long-term interest rate swap liability $ 13,479 $ 10,483 Total liabilities $ 13,479 $ 10,483 ** These interest rate swap liabilities are recorded gross at both January 31, 2020 and August 2, 2019 since there were no offsetting assets under the Company’s master netting agreements.
Pre-tax Effects of Derivative Instruments on AOCL and Income	The following table summarizes the pre-tax effects of the Company’s derivative instruments on AOCL for the six months ended January 31, 2020 and the year ended August 2, 2019: Amount of Loss Recognized in AOCL on Derivatives Six Months Ended January 31, 2020 Year Ended August 2, 2019 Cash flow hedges: Interest rate swaps $ (3,235 ) $ (15,466 ) The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six-month periods ended January 31, 2020 and February 1, 2019: Location of Loss Reclassified from AOCL into Income (Effective Portion) Amount of Loss Reclassified from AOCL into Income (Effective Portion) Quarter Ended Six Months Ended January 31, 2020 February 1, 2019 January 31, 2020 February 1, 2019 Cash flow hedges: Interest rate swaps Interest expense $ 176 $ 141 $ 94 $ 141
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps	The following table summarizes the amounts reclassified out of AOCL related to the Company’s interest rate swaps for the quarter and six months ended January 31, 2020: Amount Reclassified from AOCL Affected Line Item in the Quarter Ended Six Months Ended Condensed Consolidated Financial Statements Loss on cash flow hedges: Interest rate swaps $ (176 ) $ (94 ) Interest expense Tax benefit 44 24 Provision for income taxes $ (132 ) $ (70 ) Net of tax
Changes in AOCL, Net of Tax, Related to Interest Rate Swaps	The following table summarizes the changes in AOCL, net of tax, related to the Company’s interest rate swaps for the six months ended January 31, 2020: Changes in AOCL AOCL balance at August 2, 2019 $ (6,913 ) Other comprehensive loss before reclassifications (2,417 ) Amounts reclassified from AOCL (70 ) Other comprehensive loss, net of tax (2,487 ) AOCL balance at January 31, 2020 $ (9,400 )

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jan. 31, 2020
Revenue Recognition [Abstract]
Disaggregation of Revenue	Total revenue was comprised of the following for the specified periods: Quarter Ended Six Months Ended January 31, 2020 February 1, 2019 January 31, 2020 February 1, 2019 Revenue: Restaurant $ 663,043 $ 631,175 $ 1,270,122 $ 1,222,153 Retail 183,100 180,532 325,061 323,097 Total revenue $ 846,143 $ 811,707 $ 1,595,183 $ 1,545,250

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 31, 2020
Leases [Abstract]
Components of Lease Cost for Operating Leases	The following table summarizes the components of lease cost for operating leases for the quarter and six months ended January 31, 2020: Quarter Ended January 31, 2020 Six Months Ended January 31, 2020 Operating lease cost $ 20,462 $ 40,318 Short term lease cost 1,892 2,276 Variable lease cost 479 930 Total lease cost $ 22,833 $ 43,524
Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases	The following table summarizes supplemental cash flow information and non-cash activity related to the Company’s operating leases for the quarter and six months ended January 31, 2020: Quarter Ended January 31, 2020 Six Months Ended January 31, 2020 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 20,286 $ 39,832 Noncash information: Right-of-use assets obtained in exchange for new operating lease liabilities 601 4,439 Lease modifications granting additional right-of-use assets 5,691 12,517 Lease modifications removing right-of-use assets (280 ) (929 )
Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate for Operating Leases	The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of January 31, 2020: Weighted-average remaining lease term 18.04 Years Weighted-average discount rate 3.86 %
Maturities of Undiscounted Cash Flows Reconciled to Total Lease Liability	The following table summarizes the maturities of undiscounted cash flows reconciled to the total lease liability as of January 31, 2020: Year Total Remainder of 2020 $ 39,873 2021 50,982 2022 41,429 2023 37,390 2024 36,726 Thereafter 533,084 Total future minimum lease payments 739,484 Less imputed remaining interest (229,122 ) Total present value of operating lease liabilities $ 510,362
Maturities of Lease Commitments Prior to Adoption of New Lease Guidance	The following table summarizes the maturities of lease commitments as of August 2, 2019, prior to the adoption of the new lease guidance, as previously disclosed in our 2019 Form 10-K: Year Total 2020 $ 69,249 2021 40,962 2022 36,280 2023 33,639 2024 34,020 Thereafter 515,169 Total $ 729,319

Net Income Per Share and Weig_2

Net Income Per Share and Weighted Average Shares (Tables)	6 Months Ended
	Jan. 31, 2020
Net Income Per Share and Weighted Average Shares [Abstract]
Reconciliation of Components of Diluted Earnings per Share Computations	The following table reconciles the components of diluted earnings per share computations: Quarter Ended Six Months Ended January 31, 2020 February 1, 2019 January 31, 2020 February 1, 2019 Net income per share numerator $ 61,168 $ 60,755 $ 104,391 $ 107,962 Net income per share denominator: Weighted average shares 23,950,811 24,040,374 23,994,583 24,031,480 Add potential dilution: Nonvested stock awards and units 55,006 53,351 60,287 52,243 Diluted weighted average shares 24,005,817 24,093,725 24,054,870 24,083,723

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statements (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Nov. 01, 2019	Aug. 02, 2019
Recent Accounting Pronouncements Adopted [Abstract]
Operating lease right-of-use assets	$ 465,685		$ 0	[1]
Operating lease liabilities	$ 510,362
Cumulative-effect of change in accounting principle		$ 4,125
Retained Earnings [Member]
Recent Accounting Pronouncements Adopted [Abstract]
Cumulative-effect of change in accounting principle		$ 4,125
ASU 2016-02 [Member]
Recent Accounting Pronouncements Adopted [Abstract]
Operating lease right-of-use assets			464,394
Operating lease liabilities			506,406
ASU 2016-02 [Member] | Retained Earnings [Member]
Recent Accounting Pronouncements Adopted [Abstract]
Cumulative-effect of change in accounting principle			$ 4,125
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.

Acquisition (Details)

Acquisition (Details) $ in Thousands		Oct. 10, 2019USD ($)Installment	Nov. 01, 2019USD ($)	Jan. 31, 2020USD ($)LocationState	Aug. 02, 2019USD ($)	[1]
Recognized amounts of identifiable assets acquired and liabilities assumed [Abstract]
Goodwill				$ 6,364	$ 0
Maple Street Biscuit Company [Member]
Acquisition [Abstract]
Ownership interest acquired		100.00%
Cash paid to sellers		$ 32,000
Cash held for satisfaction of indemnification obligations		$ 4,000
Number of installments for unused portion held as security | Installment		2
Amount of first installment payment of unused portion held as security due to principal seller		$ 1,500
Period of first installment payment for unused portion held as security				1 year
Period of remaining installment payment for unused portion held as security				2 years
Number of locations | Location				5
Number of states in which the entity operates | State				7
Goodwill expected to be deductible for income tax purposes			$ 0
Acquisition-related costs			$ 1,269
Fair value of total consideration transferred		36,000
Recognized amounts of identifiable assets acquired and liabilities assumed [Abstract]
Financial assets		96
Property and equipment		13,580
Operating lease right-of-use assets, net		14,280
Indefinite-lived intangible asset	[2]	19,460
Other current and noncurrent assets		394
Financial liabilities		(1,876)
Operating lease liabilities		(15,973)
Other noncurrent liabilities		(325)
Total identifiable net assets		29,636
Goodwill		$ 6,364
Maple Street Biscuit Company [Member] | Company-Owned Fast Food Casual Locations [Member]
Acquisition [Abstract]
Number of locations | Location				28
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.
[2]	Consists entirely of MSBC’s Tradename

Equity Method Investment (Detai

Equity Method Investment (Details) - USD ($) $ in Thousands	Jul. 18, 2019	Jan. 31, 2020	Aug. 02, 2019
Equity method investments [Abstract]
Investment in unconsolidated subsidiary		$ 79,536	$ 89,100	[1]
PBS HC [Member]
Equity method investments [Abstract]
Percentage of economic ownership interest	58.60%
Percentage of voting ownership Interest	49.70%
Investment in unconsolidated subsidiary		79,536	89,100
Purchase of promissory notes	$ 6,900
Additional funding provided	8,000
Funding amount paid		$ 45,500	$ 12,500
PBS HC [Member] | Maximum [Member]
Equity method investments [Abstract]
Agreed funding amount	$ 51,000
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.

Fair Value Measurements, Assets

Fair Value Measurements, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring [Member] - USD ($) $ in Thousands		Jan. 31, 2020	Aug. 02, 2019
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Abstract]
Cash equivalents	[1]	$ 34,401	$ 46
Deferred compensation plan assets	[2]	32,758	30,593
Total assets at fair value		67,159	30,639
Interest rate swap liability (see Note 7)		13,479	10,483
Total liabilities at fair value		13,479	10,483
Level 1 [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Abstract]
Cash equivalents	[1]	34,401	46
Interest rate swap liability (see Note 7)		0	0
Total liabilities at fair value		0	0
Level 2 [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Abstract]
Cash equivalents	[1]	0	0
Interest rate swap liability (see Note 7)		13,479	10,483
Total liabilities at fair value		13,479	10,483
Level 3 [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Abstract]
Cash equivalents	[1]	0	0
Interest rate swap liability (see Note 7)		0	0
Total liabilities at fair value		$ 0	$ 0
[1]	Consists of money market fund investments.
[2]	Represents plan assets invested in mutual funds established under a rabbi trust for the Company’s non-qualified savings plan and is included in the Condensed Consolidated Balance Sheets as other assets.

Fair Value Measurements, Asse_2

Fair Value Measurements, Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Maple Street Biscuit Company [Member] - Nonrecurring [Member] $ in Thousands	Oct. 10, 2019USD ($)
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Property and equipment	$ 13,580
Tradename	19,460	[1]
Goodwill	6,364	[1]
Total assets at fair value	39,404
Cost Approach [Member]
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Estimated replacement cost per store	$ 500
Present Value of Estimated Cash Flow [Member] | Royalty Rate [Member]
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Tradename, measurement input	0.025
Present Value of Estimated Cash Flow [Member] | Discount Rate [Member]
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Tradename, measurement input	0.120
Level 1 [Member]
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Property and equipment	$ 0
Tradename	0	[1]
Goodwill	0	[1]
Total assets at fair value	0
Level 2 [Member]
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Property and equipment	0
Tradename	0	[1]
Goodwill	0	[1]
Total assets at fair value	0
Level 3 [Member]
Fair Value Assets Measured on Nonrecurring Basis [Abstract]
Property and equipment	13,580
Tradename	19,460	[1]
Goodwill	6,364	[1]
Total assets at fair value	$ 39,404
[1]	Included in the Condensed Consolidated Balance Sheets as other assets.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Aug. 02, 2019
Inventories [Abstract]
Retail	$ 116,389	$ 116,990
Restaurant	22,817	20,648
Supplies	18,146	17,320
Total	$ 157,352	$ 154,958	[1]
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.

Debt (Details)

Debt (Details) $ in Thousands	6 Months Ended
	Jan. 31, 2020USD ($)	Aug. 02, 2019USD ($)	Sep. 05, 2018USD ($)
2019 Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Line of credit facility, term	5 years
Maximum borrowing capacity			$ 950,000
Option to increase revolving credit facility			$ 300,000
Outstanding borrowings	$ 460,000	$ 400,000
Amount of standby letters of credit	6,879
Current borrowing capacity	483,121
Liquidity requirements	100,000
Dividends threshold	$ 100,000
Leverage ratio, maximum	3
Multiplier used in calculating aggregate amount of cash dividends on shares of common stock in any fiscal year	4
2019 Revolving Credit Facility, Swapped Portion [Member]
Line of Credit Facility [Abstract]
Outstanding borrowings	$ 400,000
Weighted average interest rates	3.61%
2019 Revolving Credit Facility, Remaining Portion [Member]
Line of Credit Facility [Abstract]
Outstanding borrowings	$ 60,000
Weighted average interest rates	3.13%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) $ in Thousands	6 Months Ended
	Jan. 31, 2020USD ($)
Derivative Instruments [Abstract]
Company's credit spread	1.25%
Interest Rate Swap One January 30, 2015 [Member]
Derivative Instruments [Abstract]
Trade date	Jan. 30, 2015
Effective date	May 3, 2019
Term	2 years
Notional amount	$ 60,000
Fixed rate	2.16%
Interest Rate Swap Two January 30, 2015 [Member]
Derivative Instruments [Abstract]
Trade date	Jan. 30, 2015
Effective date	May 4, 2021
Term	3 years
Notional amount	$ 120,000
Fixed rate	2.41%
Interest Rate Swap Three January 30, 2015 [Member]
Derivative Instruments [Abstract]
Trade date	Jan. 30, 2015
Effective date	May 3, 2019
Term	2 years
Notional amount	$ 60,000
Fixed rate	2.15%
Interest Rate Swap Four January 30, 2015 [Member]
Derivative Instruments [Abstract]
Trade date	Jan. 30, 2015
Effective date	May 4, 2021
Term	3 years
Notional amount	$ 80,000
Fixed rate	2.40%
Interest Rate Swap Five January 16, 2019 [Member]
Derivative Instruments [Abstract]
Trade date	Jan. 16, 2019
Effective date	May 3, 2019
Term	3 years
Notional amount	$ 115,000
Fixed rate	2.63%
Interest Rate Swap Six January 16, 2019 [Member]
Derivative Instruments [Abstract]
Trade date	Jan. 16, 2019
Effective date	May 3, 2019
Term	2 years
Notional amount	$ 115,000
Fixed rate	2.68%
Interest Rate Swap Seven August 6, 2019 [Member]
Derivative Instruments [Abstract]
Trade date	Aug. 6, 2019
Effective date	Nov. 4, 2019
Term	2 years 6 months
Notional amount	$ 50,000
Fixed rate	1.50%
Interest Rate Swap Eight August 7, 2019 [Member]
Derivative Instruments [Abstract]
Trade date	Aug. 7, 2019
Effective date	May 3, 2021
Term	1 year
Notional amount	$ 35,000
Fixed rate	1.32%
Interest Rate Swap Nine August 7, 2019 [Member]
Derivative Instruments [Abstract]
Trade date	Aug. 7, 2019
Effective date	May 3, 2022
Term	2 years
Notional amount	$ 100,000
Fixed rate	1.40%
Interest Rate Swap Ten August 7, 2019 [Member]
Derivative Instruments [Abstract]
Trade date	Aug. 7, 2019
Effective date	May 3, 2022
Term	2 years
Notional amount	$ 100,000
Fixed rate	1.36%

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities, Estimated Fair Value of Derivative Instruments (Details) - Interest Rate Swaps [Member] - USD ($) $ in Thousands		Jan. 31, 2020	Aug. 02, 2019
Estimated Fair Value of Derivative Instruments [Abstract]
Fair value, liability	[1]	$ 13,479	$ 10,483
Long-term Interest Rate Swap Liability [Member]
Estimated Fair Value of Derivative Instruments [Abstract]
Fair value, liability	[1]	$ 13,479	$ 10,483
[1]	These interest rate swap liabilities are recorded gross at both January 31, 2020 and August 2, 2019 since there were no offsetting assets under the Company’s master netting agreements.

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities, Offsetting of Derivative Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Aug. 02, 2019
Offsetting of derivative assets [Abstract]
Estimated pre-tax portion of AOCL that is expected to be reclassified into earnings over the next twelve months	$ 1,721
Interest Rate Swaps [Member]
Offsetting of derivative assets [Abstract]
Reduction in fair value of interest rate swap liabilities due to adjustment related to non-performance risk	$ 358	$ 399

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities, Pre-tax Effects of Derivative Instruments on AOCL and Income (Details) - Interest Rate Swaps [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2020	Feb. 01, 2019	Jan. 31, 2020	Feb. 01, 2019	Aug. 02, 2019
Interest Rate Cash Flow Hedges [Abstract]
Amount of loss recognized in AOCL on derivatives			$ (3,235)		$ (15,466)
Interest Expense [Member]
Interest Rate Cash Flow Hedges [Abstract]
Amount of loss reclassified from AOCL into income	$ 176	$ 141	$ 94	$ 141

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities, Amounts Reclassified out of AOCL Related to Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jan. 31, 2020	Nov. 01, 2019	Feb. 01, 2019	Nov. 02, 2018	Jan. 31, 2020	Feb. 01, 2019
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Interest expense	$ 3,505		$ 4,177		$ 7,085	$ 8,526
Provision for income taxes	10,878		11,779		21,468	21,901
Net of tax	61,168	$ 43,223	$ 60,755	$ 47,207	104,391	$ 107,962
Interest Rate Swaps [Member] | Cash Flow Hedging [Member]
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Gains or losses representing amounts excluded from assessment of effectiveness					0
Loss on Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member]
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Provision for income taxes	44				24
Net of tax	(132)				(70)
Loss on Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member]
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Interest expense	$ (176)				$ (94)

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities, Changes in AOCL, Net of Tax, Related to Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended
	Jan. 31, 2020	Nov. 01, 2019		Feb. 01, 2019	Nov. 02, 2018	Jan. 31, 2020		Feb. 01, 2019
Changes in AOCL, net of tax, related to interest rate swaps [Roll Forward]
Balance	$ 605,784	$ 604,710	[1]	$ 600,178	$ 581,781	$ 604,710	[1]	$ 581,781
Other comprehensive loss before reclassifications						(2,417)
Amounts reclassified from AOCL						(70)
Other comprehensive loss, net of tax	(2,049)	(438)		(4,039)	1,293	(2,487)		(2,746)
Balance	629,930	605,784		628,618	600,178	629,930		628,618
Accumulated Other Comprehensive Income (Loss) [Member]
Changes in AOCL, net of tax, related to interest rate swaps [Roll Forward]
Balance	(7,351)	(6,913)		5,978	4,685	(6,913)		4,685
Other comprehensive loss, net of tax	(2,049)	(438)		(4,039)	1,293
Balance	$ (9,400)	$ (7,351)		$ 1,939	$ 5,978	$ (9,400)		$ 1,939
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of August 2, 2019, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended August 2, 2019.

Segment Information (Details)

Segment Information (Details)	6 Months Ended
	Jan. 31, 2020LineSegment
Segment Information [Abstract]
Number of product lines | Line	2
Number of reportable operating segments | Segment	1

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 31, 2020	Feb. 01, 2019	Jan. 31, 2020	Feb. 01, 2019	Aug. 02, 2019
Disaggregation of Revenue [Abstract]
Revenue	$ 846,143	$ 811,707	$ 1,595,183	$ 1,545,250
Gift card breakage	2,422	2,451	3,660	3,656
Deferred revenue related to gift cards	106,959		106,959		$ 80,073
Revenue recognized for redemption of gift cards			29,751	52,696
Restaurant [Member]
Disaggregation of Revenue [Abstract]
Revenue	663,043	631,175	1,270,122	1,222,153
Retail [Member]
Disaggregation of Revenue [Abstract]
Revenue	$ 183,100	$ 180,532	$ 325,061	$ 323,097

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jan. 31, 2020USD ($)	Jan. 31, 2020USD ($)Period	Jul. 31, 2009Store	Jul. 28, 2000Store	Aug. 02, 2019USD ($)
Components of Lease Cost for Operating Leases [Abstract]
Operating lease cost	$ 20,462	$ 40,318
Short term lease cost	1,892	2,276
Variable lease cost	479	930
Total lease cost	22,833	43,524
Operating cash flow information [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	20,286	39,832
Noncash information [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	601	4,439
Lease modifications granting additional right-of-use assets	5,691	12,517
Lease modifications removing right-of-use assets	$ (280)	$ (929)
Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate for Operating Leases [Abstract]
Weighted-average remaining lease term	18 years 14 days	18 years 14 days
Weighted-average discount rate	3.86%	3.86%
Maturities of Undiscounted Cash Flows Reconciled to Total Lease Liability [Abstract]
Remainder of 2020	$ 39,873	$ 39,873
2021	50,982	50,982
2022	41,429	41,429
2023	37,390	37,390
2024	36,726	36,726
Thereafter	533,084	533,084
Total future minimum lease payments	739,484	739,484
Less imputed remaining interest	(229,122)	(229,122)
Total present value of operating lease liabilities	$ 510,362	$ 510,362
Maturities of Lease Commitments Prior to Adoption of New Lease Guidance [Abstract]
2020					$ 69,249
2021					40,962
2022					36,280
2023					33,639
2024					34,020
Thereafter					515,169
Total					$ 729,319
Restaurant [Member]
Sale Leaseback Transactions [Abstract]
Initial lease term	10 years	10 years
Lease renewal option	5 years	5 years
Undiscounted future payments for leases not yet commenced	$ 15,900	$ 15,900
Restaurant [Member] | Minimum [Member]
Sale Leaseback Transactions [Abstract]
Number of optional renewal periods | Period		4
Restaurant [Member] | Maximum [Member]
Sale Leaseback Transactions [Abstract]
Number of optional renewal periods | Period		5
Sale-leaseback Transactions in 2009 [Member] | Owned Stores [Member]
Sale Leaseback Transactions [Abstract]
Number of owned stores involved in sale-lease back transactions | Store			15
Initial lease term	20 years	20 years
Lease renewal option	20 years	20 years
Sale-leaseback Transactions in 2009 [Member] | Retail Distribution Center [Member]
Sale Leaseback Transactions [Abstract]
Initial lease term	15 years	15 years
Lease renewal option	20 years	20 years
Sale-leaseback Transactions in 2000 [Member] | Owned Stores [Member]
Sale Leaseback Transactions [Abstract]
Number of owned stores involved in sale-lease back transactions | Store				65
Initial lease term	21 years	21 years
Lease renewal option	20 years	20 years

Net Income Per Share and Weig_3

Net Income Per Share and Weighted Average Shares (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jan. 31, 2020	Nov. 01, 2019	Feb. 01, 2019	Nov. 02, 2018	Jan. 31, 2020	Feb. 01, 2019
Net Income Per Share and Weighted Average Shares [Abstract]
Net income per share numerator	$ 61,168	$ 43,223	$ 60,755	$ 47,207	$ 104,391	$ 107,962
Net income per share denominator [Abstract]
Weighted average shares (in shares)	23,950,811		24,040,374		23,994,583	24,031,480
Add potential dilution [Abstract]
Nonvested stock awards and units (in shares)	55,006		53,351		60,287	52,243
Diluted weighted average shares (in shares)	24,005,817		24,093,725		24,054,870	24,083,723

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Jan. 31, 2020USD ($)Property
Standby Letters of Credit [Member] | Revolving Credit Facility [Member]
Loss Contingencies [Abstract]
Letters of credit outstanding | $	$ 6,879
Lease Performance Guarantee [Member]
Loss Contingencies [Abstract]
Number of properties for which the company is secondarily liable for lease payments | Property	2