Cracker Barrel Old Country Store (CBRL) 10-Q 23 Feb 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jan. 29, 2021	Feb. 16, 2021
Cover [Abstract]
Entity Registrant Name	Cracker Barrel Old Country Store, Inc.
Entity Central Index Key	0001067294
Current Fiscal Year End Date	--07-30
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jan. 29, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-25225
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-0812904
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,725,117

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 29, 2021	Jul. 31, 2020	[1]
Current Assets:
Cash and cash equivalents	$ 568,839	$ 436,996
Accounts receivable	22,361	20,157
Income taxes receivable	48,164	28,852
Inventories	134,768	139,091
Prepaid expenses and other current assets	22,653	17,916
Total current assets	796,785	643,012
Property and equipment	2,208,122	2,363,518
Less: Accumulated depreciation and amortization	1,212,277	1,233,457
Property and equipment - net	995,845	1,130,061
Operating lease right-of-use assets, net	997,764	691,949
Goodwill	4,690	4,690
Intangible assets	21,099	20,960
Other assets	55,860	53,586
Total assets	2,872,043	2,544,258
Current Liabilities:
Accounts payable	118,308	103,504
Other current liabilities	320,395	347,552
Total current liabilities	438,703	451,056
Long-term debt	835,049	910,000
Long-term operating lease liabilities	763,826	632,630
Long-term interest rate swap liability	21,193	23,860
Other long-term obligations	110,377	80,605
Deferred income taxes	94,284	27,718
Commitments and Contingencies (Note 12)
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; 23,724,412 shares issued and outstanding at January 29, 2021, and 23,697,396 shares issued and outstanding at July 31, 2020	237	237
Additional paid-in capital	1,967	0
Accumulated other comprehensive loss	(16,679)	(20,346)
Retained earnings	623,086	438,498
Total shareholders' equity	608,611	418,389
Total liabilities and shareholders' equity	$ 2,872,043	$ 2,544,258
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 31, 2020, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 29, 2021	Jul. 31, 2020
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)	23,724,412	23,697,396
Common stock, shares outstanding (in shares)	23,724,412	23,697,396
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 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 29, 2021	Jan. 31, 2020	Jan. 29, 2021	Jan. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF INCOME [Abstract]
Total revenue	$ 677,169	$ 846,143	$ 1,323,623	$ 1,595,183
Cost of goods sold (exclusive of depreciation and rent)	225,084	272,207	424,128	492,021
Labor and other related expenses	236,862	284,777	464,050	548,091
Other store operating expenses	166,871	171,638	328,145	334,546
General and administrative expenses	33,957	38,386	73,521	78,017
Gain on sale and leaseback transaction	0	0	(217,722)	0
Operating income	14,395	79,135	251,501	142,508
Interest expense, net	10,815	3,505	21,530	7,085
Income before income taxes	3,580	75,630	229,971	135,423
Provision for income taxes (income tax benefit)	(10,420)	10,878	45,291	21,468
Loss from unconsolidated subsidiary	0	(3,584)	0	(9,564)
Net income	$ 14,000	$ 61,168	$ 184,680	$ 104,391
Net income per share:
Basic (in dollars per share)	$ 0.59	$ 2.55	$ 7.79	$ 4.35
Diluted (in dollars per share)	$ 0.59	$ 2.55	$ 7.77	$ 4.34
Weighted average shares:
Basic (in shares)	23,723,395	23,950,811	23,715,573	23,994,583
Diluted (in shares)	23,785,374	24,005,817	23,778,302	24,054,870

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 29, 2021	Jan. 31, 2020	Jan. 29, 2021	Jan. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 14,000	$ 61,168	$ 184,680	$ 104,391
Other comprehensive income (loss) before income tax expense (benefit):
Change in fair value of interest rate swaps	1,420	(2,690)	4,886	(3,235)
Income tax expense (benefit)	354	(641)	1,219	(748)
Other comprehensive income (loss), net of tax	1,066	(2,049)	3,667	(2,487)
Comprehensive income (loss)	$ 15,066	$ 59,119	$ 188,347	$ 101,904

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total		Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-In Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]
Balances at Aug. 02, 2019	$ 241	$ 49,732	$ (6,913)	$ 561,650	$ 604,710
Balances (in shares) at Aug. 02, 2019	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)
Balances at Nov. 01, 2019	$ 240	35,349	(7,351)	577,546	605,784
Balances (Adjustments for New Accounting Pronouncement [Member]) at Nov. 01, 2019							$ 0	$ 0	$ 0	$ 4,125	$ 4,125
Balances (in shares) at Nov. 01, 2019	23,975,958
Balances at Aug. 02, 2019	$ 241	49,732	(6,913)	561,650	604,710
Balances (in shares) at Aug. 02, 2019	24,049,240
Comprehensive Income (Loss):
Net income					104,391
Other comprehensive income (loss), net of tax					(2,487)
Comprehensive income (loss)					101,904
Balances at Jan. 31, 2020	$ 240	31,659	(9,400)	607,431	629,930
Balances (in shares) at Jan. 31, 2020	23,943,248
Balances at Nov. 01, 2019	$ 240	35,349	(7,351)	577,546	605,784
Balances (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)
Balances at Jan. 31, 2020	$ 240	31,659	(9,400)	607,431	629,930
Balances (in shares) at Jan. 31, 2020	23,943,248
Balances at Jul. 31, 2020	$ 237	0	(20,346)	438,498	$ 418,389	[1]
Balances (in shares) at Jul. 31, 2020	23,697,396				23,697,396
Comprehensive Income (Loss):
Net income	$ 0	0	0	170,680	$ 170,680
Other comprehensive income (loss), net of tax	0	0	2,601	0	2,601
Comprehensive income (loss)	0	0	2,601	170,680	173,281
Cash dividends declared	0	0	0	(40)	(40)
Share-based compensation	0	1,974	0	0	1,974
Issuance of share-based compensation awards, net of shares withheld for employee taxes	$ 0	(1,974)	0	(18)	(1,992)
Issuance of share-based compensation awards, net of shares withheld for employee taxes (in shares)	22,928
Balances at Oct. 30, 2020	$ 237	0	(17,745)	609,120	591,612
Balances (in shares) at Oct. 30, 2020	23,720,324
Balances at Jul. 31, 2020	$ 237	0	(20,346)	438,498	$ 418,389	[1]
Balances (in shares) at Jul. 31, 2020	23,697,396				23,697,396
Comprehensive Income (Loss):
Net income					$ 184,680
Other comprehensive income (loss), net of tax					3,667
Comprehensive income (loss)					188,347
Balances at Jan. 29, 2021	$ 237	1,967	(16,679)	623,086	$ 608,611
Balances (in shares) at Jan. 29, 2021	23,724,412				23,724,412
Balances at Oct. 30, 2020	$ 237	0	(17,745)	609,120	$ 591,612
Balances (in shares) at Oct. 30, 2020	23,720,324
Comprehensive Income (Loss):
Net income	$ 0	0	0	14,000	14,000
Other comprehensive income (loss), net of tax	0	0	1,066	0	1,066
Comprehensive income (loss)	0	0	1,066	14,000	15,066
Cash dividends declared	0	0	0	(52)	(52)
Share-based compensation	0	1,992	0	0	1,992
Issuance of share-based compensation awards, net of shares withheld for employee taxes	$ 0	(25)	0	18	(7)
Issuance of share-based compensation awards, net of shares withheld for employee taxes (in shares)	4,088
Balances at Jan. 29, 2021	$ 237	$ 1,967	$ (16,679)	$ 623,086	$ 608,611
Balances (in shares) at Jan. 29, 2021	23,724,412				23,724,412
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 31, 2020, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020.

CONDENSED CONSOLIDATED STATEM_4

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

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jan. 29, 2021	Jan. 31, 2020
Cash flows from operating activities:
Net income		$ 184,680	$ 104,391
Net loss from unconsolidated subsidiary		0	9,564
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		53,770	58,277
Loss on disposition of property and equipment		1,933	4,005
Gain on sale and leaseback transaction		(217,722)	0
Impairment		0	664
Share-based compensation		3,966	3,920
Noncash lease expense		27,704	30,845
Amortization of asset recognized from gain on sale and leaseback transactions		6,368	0
Changes in assets and liabilities:
Inventories		4,323	(2,167)
Other current assets		(26,178)	(5,005)
Accounts payable		14,804	(10,779)
Other current liabilities		8,004	6,609
Deferred income taxes		65,347	12,043
Other long-term assets and liabilities		(5,683)	(28,363)
Net cash provided by operating activities		121,316	184,004
Cash flows from investing activities:
Purchase of property and equipment		(29,470)	(58,371)
Proceeds from insurance recoveries of property and equipment		246	82
Proceeds from sale of property and equipment		149,877	1,565
Notes receivable from unconsolidated subsidiary		0	(33,000)
Acquisition of business, net of cash acquired		(1,500)	(32,971)
Net cash provided by (used in) investing activities		119,153	(122,695)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		0	215,000
Taxes withheld from issuance of share-based compensation awards		(1,999)	(1,994)
Principal payments under long-term debt		(75,049)	(155,000)
Purchases and retirement of common stock		0	(20,000)
Dividends on common stock		(31,578)	(63,359)
Net cash used in financing activities		(108,626)	(25,353)
Net increase in cash and cash equivalents		131,843	35,956
Cash and cash equivalents, beginning of period		436,996	36,884
Cash and cash equivalents, end of period		568,839	72,840
Cash paid during the period for:
Interest, net of amounts capitalized		20,434	8,564
Income taxes		1,038	5,277
Supplemental schedule of non-cash investing and financing activities:
Capital expenditures accrued in accounts payable	[1]	2,821	3,244
Change in fair value of interest rate swaps	[1]	4,886	(3,235)
Change in deferred tax asset for interest rate swaps	[1]	(1,219)	748
Dividends declared but not yet paid	[1]	$ 572	$ 32,231
[1]	See Note 10 for additional supplemental disclosures related to leases.

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	6 Months Ended
	Jan. 29, 2021
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 July 31, 2020 (the “2020 Form 10-K”). The accounting policies used in preparing these condensed consolidated financial statements are the same as described in the 2020 Form 10-K. References to a year in these Notes to Condensed Consolidated Financial Statements are to the Company’s fiscal year unless otherwise noted. COVID-19 Impact The . In response to the COVID-19 pandemic, the Company has instituted operational protocols to comply with applicable regulatory requirements to protect the health and safety of employees and guests, and the Company has implemented various strategies to support the recovery of its business and navigate through the uncertain environment. The Company continues to focus on growing its off-premise business and investing in its digital infrastructure to improve the guest experience. Furthermore, the Company continued to maintain and bolster its cash reserves by completing a sale and leaseback transaction in August 2020 in which the Company sold a total of Cracker Barrel owned properties and received net proceeds, after fees and expenses, of $ . See Note 10 for additional information regarding this sale and leaseback transaction. Recent Accounting Pronouncements Adopted Goodwill Impairment In January 2017, the Financial Accounting Standards Board (“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. This guidance should be applied on a prospective basis. The adoption of this accounting guidance in the first quarter of 2021 did not have a significant impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements Not Adopted 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.

Maple Street Biscuit Company

Maple Street Biscuit Company	6 Months Ended
	Jan. 29, 2021
Maple Street Biscuit Company [Abstract]
Maple Street Biscuit Company	2. Maple Street Biscuit Company 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 of the sellers, if any. The first installment of The Company believes that this acquisition 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 29, 2021, MSBC had 36 company-owned and seven franchised fast casual locations across eight states. The goodwill of $ arising from the acquisition consisted 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. All amounts recorded for the assets acquired, liabilities assumed and goodwill are final. of the goodwill recognized is expected to be deductible for income tax purposes. Acquisition-related costs of $ were recorded in the general and administrative expenses line in the Condensed Consolidated Statement of Income

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 29, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company’s assets and liabilities measured at fair value on a recurring basis at January 29, 2021 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 135,001 $ — $ — $ 135,001 Deferred compensation plan assets** 31,402 Total assets at fair value $ 166,403 Interest rate swap liability (see Note 6) $ — $ 22,542 $ — $ 22,542 Total liabilities at fair value $ — $ 22,542 $ — $ 22,542 The Company’s assets and liabilities measured at fair value on a recurring basis at July 31, 2020 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 132,001 $ — $ — $ 132,001 Deferred compensation plan assets** 28,530 Total assets at fair value $ 160,531 Interest rate swap liability (see Note 6) $ — $ 27,746 $ — $ 27,746 Total liabilities at fair value $ — $ 27,746 $ — $ 27,746 *Consists of money market fund investments. **Represents plan assets invested in mutual funds established under a rabbi trust for the Company’s 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 29, 2021 and July 31, 2020.

Inventories

Inventories	6 Months Ended
	Jan. 29, 2021
Inventories [Abstract]
Inventories	4. Inventories Inventories were comprised of the following at: January 29, 2021 July 31, 2020 Retail $ 100,422 $ 105,502 Restaurant 19,995 19,636 Supplies 14,351 13,953 Total $ 134,768 $ 139,091

Debt

Debt	6 Months Ended
	Jan. 29, 2021
Debt [Abstract]
Debt	5. 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. In the fourth quarter of 2020, the Company drew an additional $39,395 under this option for a one-year period. The Company’s outstanding borrowings under the 2019 Revolving Credit Facility were $ and $ , respectively, at January 29, 2021 and July 31, 2020 . At January 29, 2021 , 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 29, 2021, $400,000 of the Company’s outstanding borrowings were swapped at a weighted average interest rate of 5.86% (see Note 6 for information on the Company’s interest rate swaps). At January 29, 2021, the weighted average interest rate on the remaining $474,395 of the Company’s outstanding borrowings was 3.77%. 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. As a result of the uncertainty regarding the impact of the COVID-19 pandemic on the Company’s financial position and results of operations, the Company has obtained a waiver for the financial covenants for the fourth quarter of 2020 and the first and second quarters of 2021 (“Covenant Relief Period”). During this Covenant Relief Period, the Company is required to maintain certain liquidity measures (defined as the availability under the 2019 Revolving Credit Facility plus unrestricted cash and cash equivalents) of at least $140,000. Additionally, during this Covenant Relief Period, the Company’s cash payments with respect to capital expenditures may not exceed $60,000 in the aggregate. As of January 29, 2021 , the Company’s cash payments with respect to capital expenditures during the Covenant Relief Period were $ . 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. During the Covenant Relief Period described above, the Company is subject to restrictions on its ability to pay dividends (other than the deferred dividend payment that the Company paid on September 2, 2020). Following the Covenant Relief Period described above, 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. In the third quarter of 2021 , the Company entered into an amendment to the 2019 Revolving Credit Facility which reduced the commitment amount of $ to $ and extended the waiver for the financial covenants for the third and fourth quarters of 2021 (“Extended Covenant Relief Period”). During this Extended Covenant Relief Period, the Company is required to maintain certain liquidity measures (defined as the availability under the 2019 Revolving Credit Facility plus unrestricted cash and cash equivalents) of at least $ . During this Extended Covenant Relief Period, the Company’s cash payments with respect to capital expenditures are prohibited from exceeding $ in the aggregate. Additionally, during the Extended Covenant Relief Period, the Company is subject to additional restrictions on its ability to pay dividends. of 2021 .

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jan. 29, 2021
Derivative Instruments and Hedging Activities [Abstract]
Derivative Instruments and Hedging Activities	6. Derivative Instruments and Hedging Activities The Company has interest rate risk relative to its outstanding borrowings (see Note 5 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 29, 2021 was 3.50%. 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 29, 2021 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 29, 2021 and July 31, 2020 were as follows: (See Note 3) Balance Sheet Location January 29, 2021 July 31, 2020 Interest rate swaps Other current liabilities $ 1,349 $ 3,886 Interest rate swaps Long-term interest rate swap liability 21,193 23,860 Total liabilities** $ 22,542 $ 27,746 **These interest rate swap liabilities are recorded gross at both January 29, 2021 and July 31, 2020 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 incorporates the Company’s non-performance risk (see Note 3). The adjustment related to the Company’s non-performance risk at January 29, 2021 and July 31, 2020 resulted in reductions of $593 and $978, 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 29, 2021, the estimated pre-tax portion of AOCL that is expected to be reclassified into earnings over the next twelve months is $6,223. Cash flows related to the interest rate swaps are included in the interest expense line 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 29, 2021 and the year ended July 31, 2020: Amount of Income (Loss) Recognized in AOCL on Derivatives Six Months Ended January 29, 2021 Year Ended July 31, 2020 Cash flow hedges: Interest rate swaps $ 4,886 $ (17,740 ) The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six months ended January 29, 2021 and January 31, 2020: 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 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Cash flow hedges: Interest rate swaps Interest expense $ 2,158 $ 176 $ 3,984 $ 94 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 29, 2021: 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 $ (2,158) $ (3,984) Interest expense Tax benefit 538 994 Provision for income taxes $ (1,620) $ (2,990) 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 29, 2021. 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 29, 2021: Changes in AOCL AOCL balance at July 31, 2020 $ (20,346 ) Other comprehensive income before reclassifications 6,657 Amounts reclassified from AOCL (2,990 ) Other comprehensive income, net of tax 3,667 AOCL balance at January 29, 2021 $ (16,679 )

Seasonality

Seasonality	6 Months Ended
	Jan. 29, 2021
Seasonality [Abstract]
Seasonality	7. 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. Currently, the Company is not able to predict the impact that the COVID-19 pandemic may have on these historical consumer demand patterns or, as a result, on the seasonality of its business generally.

Segment Information

Segment Information	6 Months Ended
	Jan. 29, 2021
Segment Information [Abstract]
Segment Information	8. 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. 29, 2021
Revenue Recognition [Abstract]
Revenue Recognition	9. 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 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Revenue: Restaurant $ 521,243 $ 663,043 $ 1,036,467 $ 1,270,122 Retail 155,926 183,100 287,156 325,061 Total revenue $ 677,169 $ 846,143 $ 1,323,623 $ 1,595,183 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. The determination of the gift card breakage rate is based upon the Company’s specific historical redemption patterns. The Company recognizes gift card breakage by applying its estimate of the rate of gift card breakage over the period of estimated redemption. For the quarter and six months ended January 29, 2021, gift card breakage was $1,754 and $2,694. For the quarter and six months ended January 31, 2020, gift card breakage was $2,422 and $3,660. Deferred revenue related to the Company’s gift cards was and respectively, at and July Revenue recognized in the Condensed Consolidated Statements of Income for the six months ended and 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. 29, 2021
Leases [Abstract]
Leases	10. 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 completed sale-leaseback transactions in 2009, 2020 and 2021 (see section below entitled “Sale and Leaseback Transactions”). 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. Contingent rent is determined as a percentage of gross sales in excess of specified levels. The Company records a contingent rent liability and corresponding rent expense when it is probable sales have been achieved in amounts in excess of the specified levels. 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 2021 with undiscounted future payments of $6,404. 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, the Company 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 ended and six months ended January 29, 2021 as compared to the same periods in the prior year: Quarter Ended Six Months Ended January 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Operating lease cost $ 26,413 $ 20,462 $ 52,885 $ 40,318 Short term lease cost 1,741 1,892 2,064 2,276 Variable lease cost 667 479 1,194 930 Total lease cost $ 28,821 $ 22,833 $ 56,143 $ 43,524 The following table summarizes supplemental cash flow information and non-cash activity related to the Company’s operating leases for the quarter ended and six months ended January 29, 2021 as compared to the same periods in the prior year: Quarter Ended Six Months Ended January 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Operating cash flow information: Gain on sale and leaseback transaction $ — $ — 217,722 $ — Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities 22,415 20,286 44,681 39,832 Noncash information: Right-of-use assets obtained in exchange for new operating lease liabilities 3,556 601 315,189 4,439 Lease modifications or reassessments increasing or decreasing right-of-use assets 1,787 5,691 25,044 12,517 Lease modifications removing right-of-use assets (89 ) (280 ) (348 ) (929 ) The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of January 29, 2021 and January 31, 2020: January 29, 2021 January 31, 2020 Weighted-average remaining lease term 18.40 Years 18.04 Years Weighted-average discount rate 4.82 % 3.86 % The following table summarizes the maturities of undiscounted cash flows reconciled to the total lease liability as of January 29, 2021: Year Total Remainder of 2021 $ 43,928 2022 82,164 2023 76,728 2024 62,756 2025 60,914 Thereafter 937,824 Total future minimum lease payments 1,264,314 Less imputed remaining interest (451,200 ) Total present value of operating lease liabilities $ 813,114 Sale and Leaseback Transactions 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. On July 29, 2020, the Company entered into an agreement with the original lessor and a third party financier to obtain ownership of 64 of the 65 Cracker Barrel properties previously covered in the original sale and leaseback arrangement and simultaneously entered into a sale and leaseback transaction with the financier for an aggregate purchase price, net of closing costs, of $198,083. The Company purchased the remaining property for approximately $3,200. In connection with this sale and leaseback transaction, the Company entered into lease agreements for each of the properties for initial terms of 20 years and renewal options up to 50 years. The aggregate initial annual rent payment for the properties is approximately $14,379 and includes 1% annual rent increases over the initial lease terms. All the properties qualified for sale and leaseback and operating lease accounting classification and the Company recorded a gain on the sale and leaseback transaction of $69,954 in the fourth quarter of 2020. The Company recorded operating lease right-of-use assets, including a non-cash asset recognized as a part of accounting for the transaction of $79,049, and corresponding operating lease liabilities of $261,698 and $182,649, respectively. On August 4, 2020, the Company completed a subsequent sale and leaseback transaction involving 62 of its owned Cracker Barrel stores for an aggregate purchase price, net of closing costs, of $146,357. Under the transaction, the land, buildings and building improvements at the locations were sold and leased back for initial terms of 20 years and renewal options up to 50 years. The aggregate initial annual rent payment for the properties is approximately $10,393 and includes 1% annual rent increases over the initial lease terms. All of the properties qualified for sale and leaseback and operating lease accounting classification, and the Company recorded a gain of $217,722 which is recorded in the gain on sale and leaseback transaction line in the Condensed Consolidated Statement of Income in the first quarter of 2021. The Company also recorded operating lease right-of-use assets, including a non-cash asset recognized as part of accounting for the transaction of $175,960, and corresponding operating lease liabilities of $309,624 and $133,663, respectively. On November 11, 2020, Cracker Barrel Old Country Store, Inc. and related affiliate entities entered into the First Amendment to Amended and Restated Master Lease (the “Amendment”) to bifurcate the existing Amended and Restated Master Lease (the “Original Lease”) into two separate lease pools. The Amendment removed 35 sites from the Original Lease and placed them in a new pool governed by the terms of a new Master Lease (the “New Master Lease”). This bifurcation was completed as an accommodation for the landlord to facilitate the landlord’s securitization of the properties. The terms and conditions of the Original Lease and New Master Lease are the same and no material changes were made to the terms thereof.

Net Income Per Share and Weight

Net Income Per Share and Weighted Average Shares	6 Months Ended
	Jan. 29, 2021
Net Income Per Share and Weighted Average Shares [Abstract]
Net Income Per Share and Weighted Average Shares	11. 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 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Net income per share numerator $ 14,000 $ 61,168 $ 184,680 $ 104,391 Net income per share denominator: Weighted average shares 23,723,395 23,950,811 23,715,573 23,994,583 Add potential dilution: Nonvested stock awards and units 61,979 55,006 62,729 60,287 Diluted weighted average shares 23,785,374 24,005,817 23,778,302 24,054,870

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jan. 29, 2021
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12. 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 29, 2021, the Company had $31,626 of standby letters of credit related to securing reserved claims under workers’ compensation insurance and the July 29, 2020 and August 4, 2020 sale and leaseback transactions At January 29, 2021, the Company has recorded a provision of $ in the Condensed Consolidated Balance Sheet for amounts to be paid as of result of non-performance by the primary obligor for lease payments associated with properties occupied by a third party. 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 29, 2021.

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statements (Policies)	6 Months Ended
	Jan. 29, 2021
Condensed Consolidated Financial Statements [Abstract]
COVID-19 Impact	COVID-19 Impact The . In response to the COVID-19 pandemic, the Company has instituted operational protocols to comply with applicable regulatory requirements to protect the health and safety of employees and guests, and the Company has implemented various strategies to support the recovery of its business and navigate through the uncertain environment. The Company continues to focus on growing its off-premise business and investing in its digital infrastructure to improve the guest experience. Furthermore, the Company continued to maintain and bolster its cash reserves by completing a sale and leaseback transaction in August 2020 in which the Company sold a total of Cracker Barrel owned properties and received net proceeds, after fees and expenses, of $ . See Note 10 for additional information regarding this sale and leaseback transaction.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Goodwill Impairment In January 2017, the Financial Accounting Standards Board (“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. This guidance should be applied on a prospective basis. The adoption of this accounting guidance in the first quarter of 2021 did not have a significant impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements Not Adopted 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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jan. 29, 2021
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 29, 2021 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 135,001 $ — $ — $ 135,001 Deferred compensation plan assets** 31,402 Total assets at fair value $ 166,403 Interest rate swap liability (see Note 6) $ — $ 22,542 $ — $ 22,542 Total liabilities at fair value $ — $ 22,542 $ — $ 22,542 The Company’s assets and liabilities measured at fair value on a recurring basis at July 31, 2020 Level 1 Level 2 Level 3 Total Fair Value Cash equivalents* $ 132,001 $ — $ — $ 132,001 Deferred compensation plan assets** 28,530 Total assets at fair value $ 160,531 Interest rate swap liability (see Note 6) $ — $ 27,746 $ — $ 27,746 Total liabilities at fair value $ — $ 27,746 $ — $ 27,746 *Consists of money market fund investments. **Represents plan assets invested in mutual funds established under a rabbi trust for the Company’s

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jan. 29, 2021
Inventories [Abstract]
Inventories	Inventories were comprised of the following at: January 29, 2021 July 31, 2020 Retail $ 100,422 $ 105,502 Restaurant 19,995 19,636 Supplies 14,351 13,953 Total $ 134,768 $ 139,091

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jan. 29, 2021
Derivative Instruments and Hedging Activities [Abstract]
Interest Rate Swaps	A summary of the Company’s interest rate swaps at January 29, 2021 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 29, 2021 and July 31, 2020 were as follows: (See Note 3) Balance Sheet Location January 29, 2021 July 31, 2020 Interest rate swaps Other current liabilities $ 1,349 $ 3,886 Interest rate swaps Long-term interest rate swap liability 21,193 23,860 Total liabilities** $ 22,542 $ 27,746 **These interest rate swap liabilities are recorded gross at both January 29, 2021 and July 31, 2020 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 29, 2021 and the year ended July 31, 2020: Amount of Income (Loss) Recognized in AOCL on Derivatives Six Months Ended January 29, 2021 Year Ended July 31, 2020 Cash flow hedges: Interest rate swaps $ 4,886 $ (17,740 ) The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six months ended January 29, 2021 and January 31, 2020: 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 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Cash flow hedges: Interest rate swaps Interest expense $ 2,158 $ 176 $ 3,984 $ 94
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 29, 2021: 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 $ (2,158) $ (3,984) Interest expense Tax benefit 538 994 Provision for income taxes $ (1,620) $ (2,990) 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 29, 2021: Changes in AOCL AOCL balance at July 31, 2020 $ (20,346 ) Other comprehensive income before reclassifications 6,657 Amounts reclassified from AOCL (2,990 ) Other comprehensive income, net of tax 3,667 AOCL balance at January 29, 2021 $ (16,679 )

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jan. 29, 2021
Revenue Recognition [Abstract]
Disaggregation of Revenue	Total revenue was comprised of the following for the specified periods: Quarter Ended Six Months Ended January 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Revenue: Restaurant $ 521,243 $ 663,043 $ 1,036,467 $ 1,270,122 Retail 155,926 183,100 287,156 325,061 Total revenue $ 677,169 $ 846,143 $ 1,323,623 $ 1,595,183

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 29, 2021
Leases [Abstract]
Components of Lease Cost for Operating Leases	The following table summarizes the components of lease cost for operating leases for the quarter ended and six months ended January 29, 2021 as compared to the same periods in the prior year: Quarter Ended Six Months Ended January 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Operating lease cost $ 26,413 $ 20,462 $ 52,885 $ 40,318 Short term lease cost 1,741 1,892 2,064 2,276 Variable lease cost 667 479 1,194 930 Total lease cost $ 28,821 $ 22,833 $ 56,143 $ 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 ended and six months ended January 29, 2021 as compared to the same periods in the prior year: Quarter Ended Six Months Ended January 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Operating cash flow information: Gain on sale and leaseback transaction $ — $ — 217,722 $ — Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities 22,415 20,286 44,681 39,832 Noncash information: Right-of-use assets obtained in exchange for new operating lease liabilities 3,556 601 315,189 4,439 Lease modifications or reassessments increasing or decreasing right-of-use assets 1,787 5,691 25,044 12,517 Lease modifications removing right-of-use assets (89 ) (280 ) (348 ) (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 29, 2021 and January 31, 2020: January 29, 2021 January 31, 2020 Weighted-average remaining lease term 18.40 Years 18.04 Years Weighted-average discount rate 4.82 % 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 29, 2021: Year Total Remainder of 2021 $ 43,928 2022 82,164 2023 76,728 2024 62,756 2025 60,914 Thereafter 937,824 Total future minimum lease payments 1,264,314 Less imputed remaining interest (451,200 ) Total present value of operating lease liabilities $ 813,114

Net Income Per Share and Weig_2

Net Income Per Share and Weighted Average Shares (Tables)	6 Months Ended
	Jan. 29, 2021
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 29, 2021 January 31, 2020 January 29, 2021 January 31, 2020 Net income per share numerator $ 14,000 $ 61,168 $ 184,680 $ 104,391 Net income per share denominator: Weighted average shares 23,723,395 23,950,811 23,715,573 23,994,583 Add potential dilution: Nonvested stock awards and units 61,979 55,006 62,729 60,287 Diluted weighted average shares 23,785,374 24,005,817 23,778,302 24,054,870

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statements (Details) $ in Thousands	1 Months Ended	6 Months Ended
	Aug. 31, 2020USD ($)Property	Jan. 29, 2021USD ($)	Jan. 31, 2020USD ($)	Feb. 16, 2021Restaurant
Covid-19 Impact [Abstract]
Net proceeds from sale of properties		$ 149,877	$ 1,565
COVID-19 Impact [Member]
Covid-19 Impact [Abstract]
Number of properties sold under sale and leaseback transaction | Property	62
Net proceeds from sale of properties	$ 146,357
COVID-19 Impact [Member] | Subsequent Event [Member]
Covid-19 Impact [Abstract]
Number of restaurants not opened for dine-in services | Restaurant				8

Maple Street Biscuit Company (D

Maple Street Biscuit Company (Details) $ in Thousands	Oct. 10, 2019USD ($)	Oct. 30, 2020USD ($)	Nov. 01, 2019USD ($)	Jan. 29, 2021USD ($)StateLocation	Jul. 31, 2020USD ($)	[1]
Acquisition [Abstract]
Goodwill				$ 4,690	$ 4,690
Maple Street Biscuit Company [Member]
Acquisition [Abstract]
Ownership interest acquired	100.00%
Purchase price	$ 36,000
Cash paid to sellers	32,000	$ 1,500
Cash held for satisfaction of indemnification obligations	4,000
Period of remaining installment payment held as security				2 years
Number of states in which the entity operates | State				8
Goodwill expected to be deductible for income tax purposes				$ 0
Goodwill	$ 4,690
Acquisition-related costs			$ 1,269
Maple Street Biscuit Company [Member] | Company-Owned Fast Food Casual Locations [Member]
Acquisition [Abstract]
Number of locations opened | Location				36
Maple Street Biscuit Company [Member] | Franchised Fast Food Casual Locations [Member]
Acquisition [Abstract]
Number of locations opened | Location				7
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 31, 2020, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020.

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. 29, 2021	Jul. 31, 2020
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Abstract]
Cash equivalents	[1]	$ 135,001	$ 132,001
Deferred compensation plan assets	[2]	31,402	28,530
Total assets at fair value		166,403	160,531
Interest rate swap liability (see Note 6)		22,542	27,746
Total liabilities at fair value		22,542	27,746
Level 1 [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis [Abstract]
Cash equivalents	[1]	135,001	132,001
Interest rate swap liability (see Note 6)		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 6)		22,542	27,746
Total liabilities at fair value		22,542	27,746
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 6)		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.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 29, 2021	Jul. 31, 2020
Inventories [Abstract]
Retail	$ 100,422	$ 105,502
Restaurant	19,995	19,636
Supplies	14,351	13,953
Total	$ 134,768	$ 139,091	[1]
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 31, 2020, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020.

Debt (Details)

Debt (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 31, 2020USD ($)	Jul. 30, 2021USD ($)	Jan. 29, 2021USD ($)	Sep. 05, 2018USD ($)
Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Amount drawn from debt instrument	$ 39,395
Debt instrument, term of option	1 year
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	$ 949,395		$ 874,395
Amount of standby letters of credit			31,626
Remaining borrowing capacity			83,374
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 [Member] | Covid-19 [Member]
Line of Credit Facility [Abstract]
Liquidity amount			$ 140,000
Maximum cash payments for capital expenditures			60,000
Cash payments made for capital expenditures during covenant relief period			37,030
2019 Revolving Credit Facility [Member] | Covid-19 [Member] | Forecast [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity		$ 800,000
Liquidity amount		140,000
Maximum cash payments for capital expenditures		$ 70,000
2019 Revolving Credit Facility, Swapped Portion [Member]
Line of Credit Facility [Abstract]
Outstanding borrowings			$ 400,000
Weighted average interest rates			5.86%
2019 Revolving Credit Facility, Remaining Portion [Member]
Line of Credit Facility [Abstract]
Outstanding borrowings			$ 474,395
Weighted average interest rates			3.77%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) $ in Thousands	6 Months Ended
	Jan. 29, 2021USD ($)
Derivative Instruments [Abstract]
Credit spread	3.50%
Interest Rate Swap 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 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 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 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 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 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 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 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 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 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. 29, 2021	Jul. 31, 2020
Estimated Fair Value of Derivative Instruments [Abstract]
Fair value, liability	[1]	$ 22,542	$ 27,746
Other Current Liabilities [Member]
Estimated Fair Value of Derivative Instruments [Abstract]
Fair value, liability	[1]	1,349	3,886
Long-term Interest Rate Swap Liability [Member]
Estimated Fair Value of Derivative Instruments [Abstract]
Fair value, liability	[1]	$ 21,193	$ 23,860
[1]	These interest rate swap liabilities are recorded gross at both January 29, 2021 and July 31, 2020 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. 29, 2021	Jul. 31, 2020
Derivative Instruments by Risk Exposure [Abstract]
Estimated pre-tax portion of AOCL that is expected to be reclassified into earnings over the next twelve months	$ 6,223
Interest Rate Swaps [Member]
Derivative Instruments by Risk Exposure [Abstract]
Offsetting assets	0	$ 0
Reduction in fair value of interest rate swap liabilities due to adjustment related to non-performance risk	$ 593	$ 978

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. 29, 2021	Jan. 31, 2020	Jan. 29, 2021	Jan. 31, 2020	Jul. 31, 2020
Interest Rate Cash Flow Hedges [Abstract]
Amount of income (loss) recognized in AOCL on derivatives (effective portion)			$ 4,886		$ (17,740)
Interest Expense [Member]
Interest Rate Cash Flow Hedges [Abstract]
Amount of loss reclassified from AOCL into income (effective portion)	$ 2,158	$ 176	$ 3,984	$ 94

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. 29, 2021	Oct. 30, 2020	Jan. 31, 2020	Nov. 01, 2019	Jan. 29, 2021	Jan. 31, 2020
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Interest expense	$ 10,815		$ 3,505		$ 21,530	$ 7,085
Provision for income taxes (income tax benefit)	10,420		(10,878)		(45,291)	(21,468)
Net of tax	14,000	$ 170,680	$ 61,168	$ 43,223	184,680	$ 104,391
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 Loss [Member] | Cash Flow Hedging [Member]
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Provision for income taxes (income tax benefit)	538				994
Net of tax	(1,620)				(2,990)
Loss on Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | Reclassification out of Accumulated Other Comprehensive Loss [Member] | Cash Flow Hedging [Member]
Amounts Reclassified Out of AOCL Related to Interest Rate Swaps [Abstract]
Interest expense	$ (2,158)				$ (3,984)

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. 29, 2021	Oct. 30, 2020		Jan. 31, 2020	Nov. 01, 2019	Jan. 29, 2021		Jan. 31, 2020
Changes in AOCL, net of tax, related to interest rate swaps [Roll Forward]
Balances	$ 591,612	$ 418,389	[1]	$ 605,784	$ 604,710	$ 418,389	[1]	$ 604,710
Other comprehensive income before reclassifications						6,657
Amounts reclassified from AOCL						(2,990)
Other comprehensive income (loss), net of tax	1,066	2,601		(2,049)	(438)	3,667		(2,487)
Balances	608,611	591,612		629,930	605,784	608,611		629,930
Accumulated Other Comprehensive Loss [Member]
Changes in AOCL, net of tax, related to interest rate swaps [Roll Forward]
Balances	(17,745)	(20,346)		(7,351)	(6,913)	(20,346)		(6,913)
Other comprehensive income (loss), net of tax	1,066	2,601		(2,049)	(438)
Balances	$ (16,679)	$ (17,745)		$ (9,400)	$ (7,351)	$ (16,679)		$ (9,400)
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 31, 2020, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020.

Segment Information (Details)

Segment Information (Details)	6 Months Ended
	Jan. 29, 2021LineSegment
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. 29, 2021	Jan. 31, 2020	Jan. 29, 2021	Jan. 31, 2020	Jul. 31, 2020
Disaggregation of Revenue [Abstract]
Revenue	$ 677,169	$ 846,143	$ 1,323,623	$ 1,595,183
Gift card breakage	1,754	2,422	2,694	3,660
Deferred revenue related to gift cards	112,981		112,981		$ 94,754
Revenue recognized for redemption of gift cards			26,944	29,751
Restaurant [Member]
Disaggregation of Revenue [Abstract]
Revenue	521,243	663,043	1,036,467	1,270,122
Retail [Member]
Disaggregation of Revenue [Abstract]
Revenue	$ 155,926	$ 183,100	$ 287,156	$ 325,061

Leases (Details)

Leases (Details) $ in Thousands	6 Months Ended
	Jan. 29, 2021USD ($)Period	Aug. 04, 2020
Sale Leaseback Transactions [Abstract]
Initial lease term		20 years
Maximum [Member]
Sale Leaseback Transactions [Abstract]
Lease renewal option		50 years
Restaurant [Member]
Sale Leaseback Transactions [Abstract]
Initial lease term	10 years
Lease renewal option	5 years
Undiscounted future payments for leases not yet commenced | $	$ 6,404
Restaurant [Member] | Minimum [Member]
Sale Leaseback Transactions [Abstract]
Number of optional renewal periods	4
Restaurant [Member] | Maximum [Member]
Sale Leaseback Transactions [Abstract]
Number of optional renewal periods	5
Sale-leaseback Transactions in 2009 [Member] | Owned Stores [Member]
Sale Leaseback Transactions [Abstract]
Initial lease term	20 years
Lease renewal option	20 years
Sale-leaseback Transactions in 2009 [Member] | Retail Distribution Center [Member]
Sale Leaseback Transactions [Abstract]
Initial lease term	15 years
Lease renewal option	20 years
Sale-leaseback Transactions in 2000 [Member]
Sale Leaseback Transactions [Abstract]
Initial lease term	20 years
Sale-leaseback Transactions in 2000 [Member] | Maximum [Member]
Sale Leaseback Transactions [Abstract]
Lease renewal option	50 years

Leases, Components of Lease Cos

Leases, Components of Lease Cost for Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 29, 2021	Jan. 31, 2020	Jan. 29, 2021	Jan. 31, 2020
Components of Lease Cost for Operating Leases [Abstract]
Operating lease cost	$ 26,413	$ 20,462	$ 52,885	$ 40,318
Short term lease cost	1,741	1,892	2,064	2,276
Variable lease cost	667	479	1,194	930
Total lease cost	$ 28,821	$ 22,833	$ 56,143	$ 43,524

Leases, Supplemental Cash Flow

Leases, Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases (Details) - USD ($) $ in Thousands	Aug. 04, 2020	Jan. 29, 2021	Jan. 31, 2020	Jan. 29, 2021	Jan. 31, 2020
Operating cash flow information [Abstract]
Gain on sale and leaseback transaction	$ 217,722	$ 0	$ 0	$ 217,722	$ 0
Cash paid for amounts included in the measurement of lease liabilities		22,415	20,286	44,681	39,832
Noncash information [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities		3,556	601	315,189	4,439
Lease modifications or reassessments increasing or decreasing right-of-use assets		1,787	5,691	25,044	12,517
Lease modifications removing right-of-use assets		$ (89)	$ (280)	$ (348)	$ (929)

Leases, Weighted-Average Remain

Leases, Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate for Operating Leases (Details)	Jan. 29, 2021	Jan. 31, 2020
Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate for Operating Leases [Abstract]
Weighted-average remaining lease term	18 years 4 months 24 days	18 years 14 days
Weighted-average discount rate	4.82%	3.86%

Leases, Maturities of Undiscoun

Leases, Maturities of Undiscounted Cash Flows Reconciled to Total Lease Liability (Details) - USD ($) $ in Thousands	Jan. 29, 2021	Aug. 04, 2020
Maturities of Undiscounted Cash Flows Reconciled to Total Lease Liability [Abstract]
Remainder of 2021	$ 43,928
2022	82,164
2023	76,728
2024	62,756
2025	60,914
Thereafter	937,824
Total future minimum lease payments	1,264,314
Less imputed remaining interest	(451,200)
Total present value of operating lease liabilities	$ 813,114	$ 133,663

Leases, Sale and Leaseback Tran

Leases, Sale and Leaseback Transactions (Details) $ in Thousands	Nov. 11, 2020PoolSite	Aug. 04, 2020USD ($)Store	Jul. 29, 2020USD ($)Store	Jan. 29, 2021USD ($)	Jan. 31, 2020USD ($)	Jan. 29, 2021USD ($)	Jan. 31, 2020USD ($)	Jul. 31, 2009Store	Jul. 31, 2020USD ($)	[1]
Sale Leaseback Transactions [Abstract]
Initial lease term		20 years
Aggregate purchase price, net of closing costs		$ 146,357
Aggregate initial annual rent payment for lease properties		$ 10,393
Percentage of increase in annual rental payments in initial terms		1.00%
Gain on sale and leaseback transaction		$ 217,722		$ 0	$ 0	$ 217,722	$ 0
Operating lease right-of-use assets		309,624		997,764		997,764			$ 691,949
Right-of-use assets, non-cash		175,960
Operating lease liabilities		$ 133,663		$ 813,114		$ 813,114
Number of separate lease pools | Pool	2
Number of sites removed from original lease and placed in new master lease | Site	35
Maximum [Member]
Sale Leaseback Transactions [Abstract]
Lease renewal option		50 years
Owned Stores [Member]
Sale Leaseback Transactions [Abstract]
Number of owned stores involved in sale-lease back transactions | Store		62
Aggregate purchase price, net of closing costs			$ 198,083
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]
Sale Leaseback Transactions [Abstract]
Initial lease term				20 years		20 years
Remaining property purchased				$ 3,200		$ 3,200
Aggregate initial annual rent payment for lease properties						$ 14,379
Percentage of increase in annual rental payments in initial terms						1.00%
Gain on sale and leaseback transaction						$ 69,954
Operating lease right-of-use assets				261,698		261,698
Right-of-use assets, non-cash				79,049		79,049
Operating lease liabilities				$ 182,649		$ 182,649
Sale-leaseback Transactions in 2000 [Member] | Maximum [Member]
Sale Leaseback Transactions [Abstract]
Lease renewal option				50 years		50 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
Number of stores completed in sale leaseback transaction | Store			64
[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 31, 2020, as filed with the Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2020.

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. 29, 2021	Oct. 30, 2020	Jan. 31, 2020	Nov. 01, 2019	Jan. 29, 2021	Jan. 31, 2020
Net Income Per Share and Weighted Average Shares [Abstract]
Net income per share numerator	$ 14,000	$ 170,680	$ 61,168	$ 43,223	$ 184,680	$ 104,391
Net income per share denominator [Abstract]
Weighted average shares (in shares)	23,723,395		23,950,811		23,715,573	23,994,583
Add potential dilution [Abstract]
Nonvested stock awards and units (in shares)	61,979		55,006		62,729	60,287
Diluted weighted average shares (in shares)	23,785,374		24,005,817		23,778,302	24,054,870

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Jan. 29, 2021USD ($)Property
Loss Contingencies [Abstract]
Provision for non-performance by primary obligor under lease arrangements	$ 344
Standby Letters of Credit [Member] | Revolving Credit Facility [Member]
Loss Contingencies [Abstract]
Letters of credit outstanding	$ 31,626
Lease Performance Guarantee [Member]
Loss Contingencies [Abstract]
Number of properties for which the Company is liable for lease payments as of result of non-performance by primary obligor | Property	2