The Simply Good Foods Company (SMPL) 10-Q 5 Jan 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Nov. 27, 2021	Jan. 03, 2022
Document Information [Line Items]
Entity Central Index Key	0001702744
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 27, 2021
Document Fiscal Period Focus	Q1
Entity File Number	001-38115
Entity Registrant Name	The Simply Good Foods Company
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1038121
Entity Address, Address Line One	1225 17th Street, Suite 1000
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	633-2840
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SMPL
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
Current Fiscal Year End Date	--08-27
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		96,132,194
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2022

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 27, 2021	Aug. 28, 2021
Current assets:
Cash	$ 35,447	$ 75,345
Accounts receivable, net	125,195	111,456
Inventories	112,433	97,269
Prepaid expenses	4,893	4,902
Other current assets	9,669	9,694
Total current assets	287,637	298,666
Long-term assets:
Property and equipment, net	17,416	16,584
Intangible assets, net	1,135,068	1,139,041
Goodwill	543,134	543,134
Other long-term assets	60,081	54,792
Total assets	2,043,336	2,052,217
Current liabilities:
Accounts payable	44,811	59,713
Accrued interest	0	60
Accrued expenses and other current liabilities	35,665	53,606
Current maturities of long-term debt	289	285
Total current liabilities	80,765	113,664
Long-term liabilities:
Long-term debt, less current maturities	427,017	451,269
Deferred income taxes	100,499	93,755
Warrant liability	177,152	159,835
Other long-term liabilities	48,296	44,890
Total liabilities	833,729	863,413
See commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 600,000,000 shares authorized, 96,130,441 and 95,882,908 shares issued at November 27, 2021 and August 28, 2021, respectively	961	959
Treasury stock, 98,234 shares at cost at November 27, 2021 and August 28, 2021	(2,145)	(2,145)
Additional paid-in-capital	1,084,690	1,085,001
Retained earnings	126,959	105,807
Accumulated other comprehensive loss	(858)	(818)
Total stockholders’ equity	1,209,607	1,188,804
Total liabilities and stockholders’ equity	$ 2,043,336	$ 2,052,217

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Nov. 27, 2021	Aug. 28, 2021
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (in shares)	100,000,000	100,000,000
Preferred stock shares issued (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	600,000,000	600,000,000
Common stock shares issued (in shares)	96,130,441	95,882,908
Treasury stock (in shares)	98,234	98,234

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Income Statement [Abstract]
Net sales	$ 281,265	$ 231,152
Cost of goods sold	164,710	137,111
Gross profit	116,555	94,041
Operating expenses:
Selling and marketing	30,527	25,195
General and administrative	23,702	25,415
Depreciation and amortization	4,320	4,244
Total operating expenses	58,549	54,854
Income from operations	58,006	39,187
Other income (expense):
Interest income	1	3
Interest expense	(6,371)	(8,372)
(Loss) gain in fair value change of warrant liability	(17,317)	20,453
(Loss) gain on foreign currency transactions	(353)	9
Other income	9	47
Total other (expense) income	(24,031)	12,140
Income before income taxes	33,975	51,327
Income tax expense	12,823	8,374
Net income	21,152	42,953
Other comprehensive income:
Foreign currency translation adjustments	(40)	(45)
Comprehensive income	$ 21,112	$ 42,908
Earnings per share from net income:
Basic (in dollars per share)	$ 0.22	$ 0.45
Diluted (in dollars per share)	$ 0.22	$ 0.23
Weighted average shares outstanding:
Basic (in shares)	95,856,845	95,538,111
Diluted (in shares)	97,861,573	99,763,119

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Operating activities
Net income	$ 21,152	$ 42,953
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	4,741	4,513
Amortization of deferred financing costs and debt discount	821	1,077
Stock compensation expense	2,605	1,110
Loss (gain) in fair value change of warrant liability	17,317	(20,453)
Contract with Customer, Receivable, Credit Loss Expense (Reversal)	15	0
Unrealized loss on foreign currency transactions	353	9
Deferred income taxes	6,687	4,400
Amortization of operating lease right-of-use asset	1,643	1,182
Loss on operating lease right-of-use asset impairment	0	354
Gain on termination of lease	(30)	0
Other operating activities	(27)	402
Changes in operating assets and liabilities:
Accounts receivable, net	(13,993)	(8,604)
Inventories	(15,331)	(18,138)
Prepaid expenses	0	(558)
Other current assets	(98)	2,874
Accounts payable	(14,220)	8,216
Accrued interest	(60)	(240)
Accrued expenses and other current liabilities	(17,902)	(5,127)
Other assets and liabilities	(1,002)	1,227
Net cash (used in) provided by operating activities	(7,329)	15,197
Investing activities
Purchases of property and equipment	(2,691)	(93)
Issuance of notes receivable	(1,500)	0
Proceeds from sale of business	0	5,800
Investments in intangible assets	(186)	(114)
Net cash (used in) provided by investing activities	(4,377)	5,593
Financing activities
Proceeds from option exercises	274	157
Tax payments related to issuance of restricted stock units and performance stock units	(3,188)	(201)
Financing cash flows from finance leases	(78)	(78)
Repayments of Long-term Debt	(25,000)	(25,000)
Net cash used in financing activities	(27,992)	(25,122)
Net decrease in cash	(39,698)	(4,332)
Cash and cash equivalents
Effect of exchange rate on cash	(200)	(39)
Cash at beginning of period	75,345	95,847
Cash and cash equivalents at end of period	35,447	91,476
Supplemental disclosures of cash flow information
Cash paid for interest	5,731	7,535
Cash paid for taxes	8,775	282
Non-cash proceeds from sale of business	0	3,000
Operating lease right-of-use assets recognized after ASU 2016-02 transition	$ 5,551	$ 306

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders Equity Statement - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Aug. 29, 2020	$ 1,139,333	$ 958	$ (2,145)	$ 1,076,472	$ 64,927	$ (879)
Beginning balance (in shares) at Aug. 29, 2020		95,751,845
Beginning balance, Treasury (in shares) at Aug. 29, 2020			98,234
Net income	42,953				42,953
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1,110			1,110
Foreign currency translation adjustments	(45)					(45)
Shares issued upon vesting of Restricted Stock Units	(201)	$ 0		(201)
Shares issued upon vesting of Restricted Stock Units (in shares)		53,908
Exercise of options to purchase common stock	157	$ 0		157
Exercise of options to purchase common stock (in shares)		13,118
Ending balance (in shares) at Nov. 28, 2020		95,818,871
Ending balance, Treasury (in shares) at Nov. 28, 2020			98,234
Ending balance at Nov. 28, 2020	1,183,307	$ 958	$ (2,145)	1,077,538	107,880	(924)
Treasury Stock, Value	2,145		$ (2,145)
Additional paid-in-capital	1,085,001			1,085,001
Common stock, $0.01 par value, 600,000,000 shares authorized, 96,130,441 and 95,882,908 shares issued at November 27, 2021 and August 28, 2021, respectively	959	$ 959
Accumulated other comprehensive loss	(818)					(818)
Beginning balance at Aug. 28, 2021	$ 1,188,804				105,807
Beginning balance (in shares) at Aug. 28, 2021		95,882,908
Beginning balance, Treasury (in shares) at Aug. 28, 2021	98,234		98,234
Net income	$ 21,152				21,152
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,605			2,605
Foreign currency translation adjustments	(40)					(40)
Shares issued upon vesting of Restricted Stock Units	(3,188)	$ 2		(3,190)
Shares issued upon vesting of Restricted Stock Units (in shares)		227,729
Exercise of options to purchase common stock	$ 274	$ 0		274
Exercise of options to purchase common stock (in shares)		19,804
Ending balance (in shares) at Nov. 27, 2021		96,130,441
Ending balance, Treasury (in shares) at Nov. 27, 2021	98,234		98,234
Ending balance at Nov. 27, 2021	$ 1,209,607				$ 126,959
Treasury Stock, Value	2,145		$ (2,145)
Additional paid-in-capital	1,084,690			$ 1,084,690
Common stock, $0.01 par value, 600,000,000 shares authorized, 96,130,441 and 95,882,908 shares issued at November 27, 2021 and August 28, 2021, respectively	961	$ 961
Accumulated other comprehensive loss	$ (858)					$ (858)

Nature of Operations and Princi

Nature of Operations and Principles of Consolidation	3 Months Ended
	Nov. 27, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Principles of Consolidation	Description of Business The Simply Good Foods Company (“Simply Good Foods” or the “Company”) is a consumer packaged food and beverage company that aims to lead the nutritious snacking movement with trusted brands that offer a variety of convenient, innovative, great-tasting, better-for-you snacks and meal replacements. The product portfolio the Company develops, markets and sells consists primarily of protein bars, ready-to-drink (“RTD”) shakes, sweet and salty snacks and confectionery products marketed under the Atkins®, Atkins Endulge®, and Quest® brand names. Simply Good Foods is poised to expand its wellness platform through innovation and organic growth along with acquisition opportunities in the nutritional snacking space. The Company’s nutritious snacking platform consists of brands that specialize in providing products for consumers that follow certain nutritional philosophies and health-and-wellness trends: Atkins® for those following a low-carb lifestyle and Quest® for consumers seeking a variety of protein-rich foods and beverages that also limit sugars and simple carbs. The Company distributes its products in major retail channels, primarily in North America, including grocery, club, and mass merchandise, as well as through e-commerce, convenience, specialty, and other channels. The Company’s portfolio of nutritious snacking brands gives it a strong platform with which to introduce new products, expand distribution, and attract new consumers to its products. The common stock of Simply Good Foods is listed on the Nasdaq Capital Market under the symbol “SMPL.” Unaudited Interim Condensed Consolidated Financial Statements The unaudited interim condensed consolidated financial statements include the accounts of Simply Good Foods and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refer to Simply Good Foods and its subsidiaries. The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in August of each year. The interim condensed consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The unaudited interim condensed consolidated financial statements reflect all adjustments and disclosures which are, in the Company’s opinion, necessary for a fair presentation of the results of operations, financial position and cash flows for the indicated periods. All such adjustments were of a normal and recurring nature unless otherwise disclosed. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted. The results reported in these unaudited interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire fiscal year and should be read in conjunction with the Company’s consolidated financial statements for the fiscal year ended August 28, 2021, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 26, 2021. The Company remains uncertain of the ultimate effect COVID-19 could have on its business notwithstanding the distribution of several U.S. government approved vaccines, the availability of booster inoculations and the easing of movement restrictions relative to the onset of COVID-19. This uncertainty stems from the potential for, among other things, (i) the rise of COVID-19 mutations that have resulted in increased rates of reported cases for which currently approved vaccines are or may not be as effective, (ii) unexpected supply chain disruptions, including disruptions resulting from labor shortages or other human capital challenges, (iii) changes to customer operations, (iv) a reversal in recently improving consumer purchasing and consumption behavior, and (v) the closure of or reduced access to customer establishments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Nov. 27, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Refer to Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in the Annual Report for a description of significant accounting policies. Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. The amendments in this ASU are effective for all entities and can be applied to contract modifications due to rate reform and eligible existing and new hedging relationships entered into between March 12, 2020 and December 31, 2022. The amendments of this ASU should be applied on a prospective basis. The Company will continue to monitor the effects of rate reform, if any, on any new or amended contracts through December 31, 2022. The Company does not anticipate the amendments in this ASU will be material to its consolidated financial statements. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which amends existing guidance related to the accounting for income taxes. This ASU was intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. The Company adopted this ASU as of the first day of fiscal year 2022. The adoption of this ASU did not have a material effect on the consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which provided updates for technical corrections, clarifications to guidance, simplifications to wording or structure of guidance, and other minor improvements across various areas of accounting within GAAP. The Company adopted this ASU as of the first day of fiscal year 2022 on a prospective basis. The adoption of this ASU did not have a material effect on the consolidated financial statements. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material effect on the Company’s consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Nov. 27, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue from transactions with external customers for each of the Company’s products would be impracticable to disclose and management does not view its business by product line. The following is a summary of revenue disaggregated by geographic area and core brands: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 North America (1) Atkins $ 133,794 $ 122,761 Quest (2) 138,294 95,769 Total North America 272,088 218,530 International 9,177 12,622 Total net sales $ 281,265 $ 231,152 (1) The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material. (2) Quest net sales are primarily in North America. Charges related to credit loss on accounts receivables from transactions with external customers were immaterial for the thirteen weeks ended November 27, 2021 and approximately $0.1 million for the thirteen weeks ended November 28, 2020. As of November 27, 2021 and August 28, 2021, the allowances for doubtful accounts related to these accounts receivable were $1.2 million and $1.1 million, respectively.

Goodwill and Intangibles

Goodwill and Intangibles	3 Months Ended
	Nov. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	As of November 27, 2021 and August 28, 2021, Goodwill in the Condensed Consolidated Balance Sheets was $543.1 million. There were no impairment charges related to goodwill during the thirteen weeks ended November 27, 2021 or since the inception of the Company. Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: November 27, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 33,003 140,997 Licensing agreements 13 years 22,000 7,144 14,856 Proprietary recipes and formulas 7 years 7,000 4,381 2,619 Software and website development costs 3 - 5 years 5,863 3,267 2,596 $ 1,182,863 $ 47,795 $ 1,135,068 August 28, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 30,103 143,897 Licensing agreements 13 years 22,000 6,664 15,336 Proprietary recipes and formulas 7 years 7,000 4,131 2,869 Software and website development costs 3 - 5 years 5,560 2,924 2,636 Intangible assets in progress 3 - 5 years 303 — 303 $ 1,182,863 $ 43,822 $ 1,139,041 Changes in Intangible assets, net during the thirteen weeks ended November 27, 2021 were primarily related to recurring amortization expense. Amortization expense related to intangible assets was $4.0 million and $3.9 million for the thirteen weeks ended November 27, 2021 and November 28, 2020, respectively. There were no impairment charges related to intangible assets during the thirteen weeks ended November 27, 2021 and November 28, 2020. Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2022 $ 11,867 2023 15,602 2024 14,917 2025 13,517 2026 13,517 2027 and thereafter 91,648 Total $ 161,068

Long-Term Debt and Line of Cred

Long-Term Debt and Line of Credit	3 Months Ended
	Nov. 27, 2021
Debt Disclosure [Abstract]
Debt Disclosure	On July 7, 2017, the Company entered into a credit agreement with Barclays Bank PLC and other parties (as amended to date, the “Credit Agreement”). The Credit Agreement at that time provided for (i) a term facility of $200.0 million (“Term Facility”) with a seven year maturity and (ii) a revolving credit facility of up to $75.0 million (the “Revolving Credit Facility”) with a five On March 16, 2018 (the “Amendment Date”), the Company entered into an amendment (the “Repricing Amendment”) to the Credit Agreement. As a result of the Repricing Amendment, the interest rate on the Term Loan was reduced and, as of the Amendment Date, such loans had an interest rate equal to, at the Company’s option, either LIBOR plus an applicable margin of 3.50%, or a base rate plus an applicable margin of 2.50%. The Repricing Amendment did not change the interest rate on the Revolving Credit Facility. The Revolving Credit Facility continued to bear interest based upon the Company’s consolidated net leverage ratio as of the last financial statements delivered to the administrative agent. No additional debt was incurred or any proceeds received by the Company in connection with the Repricing Amendment. The incremental fees paid to the administrative agent are reflected as additional debt discount and are amortized over the terms of the long-term financing agreements using the effective-interest method. On November 7, 2019, the Company entered into a second amendment (the “Incremental Facility Amendment”) to the Credit Agreement to increase the principal borrowed on the Term Facility by $460.0 million. The Term Facility together with the incremental borrowing make up the Initial Term Loans (as defined in the Incremental Facility Amendment) and as of the Amendment No. 2 Effective Date (as defined in the Incremental Facility Amendment), the Initial Term Loans bear interest at a rate equal to, at the Company’s option, either LIBOR plus an applicable margin of 3.75%, or a base rate plus an applicable margin of 2.75%. The Incremental Facility Amendment was executed to partially finance the acquisition of Quest Nutrition, LLC on November 7, 2019. No amounts under the Term Facility were repaid as a result of the execution of the Incremental Facility Amendment. Effective as of December 16, 2021, the Company entered into a third amendment (the “Extension Amendment”) to the Credit Agreement. The Extension Amendment provides for an extension of the stated maturity date of the Revolving Commitments and Revolving Loans (each as defined in the Credit Agreement) from July 7, 2022 to the earlier of (i) 91 days prior to the maturity date of the Initial Term Loans on July 7, 2024 and (ii) December 16, 2026. The Credit Agreement contains certain financial and other covenants that limit the Company’s ability to, among other things, incur and/or undertake asset sales and other dispositions, liens, indebtedness, certain acquisitions and investments, consolidations, mergers, reorganizations and other fundamental changes, payment of dividends and other distributions to equity and warrant holders, and prepayments of material subordinated debt, in each case, subject to customary exceptions materially consistent with credit facilities of such type and size. The Revolving Credit Facility has a maximum total net leverage ratio equal to or less than 6.00:1.00 contingent on credit extensions in excess of 30% of the total amount of commitments available under the Revolving Credit Facility. Any failure to comply with the restrictions of the credit facilities may result in an event of default. The Company was in compliance with all financial covenants as of November 27, 2021 and August 28, 2021, respectively. Long-term debt consists of the following: (In thousands) November 27, 2021 August 28, 2021 Term Facility (effective rate of 4.8% at November 27, 2021) 431,500 456,500 Finance lease liabilities (effective rate of 5.6% at November 27, 2021) 620 690 Less: Deferred financing fees 4,814 5,636 Total debt 427,306 451,554 Less: Current finance lease liabilities 289 285 Long-term debt, net of deferred financing fees $ 427,017 $ 451,269 The Company is not required to make principal payments on the Term Facility over the twelve months following the period ended November 27, 2021. The outstanding balance of the Term Facility is due upon its maturity in July 2024. As of November 27, 2021, the Company had letters of credit in the amount of $3.5 million outstanding. These letters of credit offset against the $75.0 million availability of the Revolving Credit Facility and exist to support three of the Company’s leased buildings and insurance programs relating to workers’ compensation. No amounts were drawn against these letters of credit at November 27, 2021. The Company utilizes market approaches to estimate the fair value of certain outstanding borrowings by discounting anticipated future cash flows derived from the contractual terms of the obligations and observable market interest and foreign exchange rates. The Company carries debt at historical cost and discloses fair value. As of November 27, 2021 and August 28, 2021, the book value of the Company’s debt approximated fair value. The estimated fair value of the Term Loan is valued based on observable inputs and classified as Level 2 in the fair value hierarchy.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Nov. 27, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measurements, a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is used: Level 1 – Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 – Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 – Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Level 3 Measurements The Company has outstanding liability-classified Private Warrants that allow holders to purchase 6,700,000 shares of the Company’s common stock. Such Private Warrants are held by Conyers Park Sponsor, LLC, a related party. The Company utilizes the Black-Scholes model to estimate the fair value of the Private Warrants at each reporting date. The application of the Black-Scholes model utilizes significant assumptions, including volatility. Significant judgment is required in determining the expected volatility, historically the key assumption, of the Private Warrants. In order to determine the most accurate measure of this volatility, the Company measured expected volatility based on several inputs, including considering a peer group of publicly traded companies, the Company’s implied volatility based on traded options, the implied volatility of comparable warrants, and the implied volatility of any outstanding public warrants during the periods they were outstanding. As a result of the unobservable inputs that were used to determine the expected volatility of the Private Warrants, the fair value measurement of these warrants reflects a Level 3 measurement within the fair value measurement hierarchy. There were 6,700,000 Private Warrants outstanding as of November 27, 2021 and November 28, 2020. The table below summarizes the inputs used to calculate the fair value of the warrant liability at each of the following reporting dates: November 27, 2021 November 28, 2020 Exercise Price $ 11.50 $ 11.50 Stock Price $ 37.93 $ 22.36 Dividend Yield — % — % Expected Term (in Years) 0.61 1.60 Risk-Free Interest Rate 0.15 % 0.14 % Expected Volatility 27.34 % 25.60 % Per Share Value of Warrants $ 26.44 $ 10.92 The periodic remeasurement of the warrant liability is reflected in (Loss) gain in fair value change of warrant liability within the Condensed Consolidated Statements of Operations and Comprehensive Income. The adjustments for the thirteen weeks ended November 27, 2021 and November 28, 2020 were a loss of $17.3 million and a gain of $20.5 million, respectively. The adjustments resulted in a total warrant liability at November 27, 2021 and November 28, 2020 of $177.2 million and $73.2 million, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Nov. 27, 2021
Income Tax Disclosure [Abstract]
Income Taxes	The tax expense and the effective tax rate resulting from operations were as follows: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 Income before income taxes $ 33,975 $ 51,327 Income tax expense $ 12,823 $ 8,374 Effective tax rate 37.7 % 16.3 % The effective tax rate for the thirteen weeks ended November 27, 2021 was 21.4% greater than the effective tax rate for the thirteen weeks ended November 28, 2020, which was primarily driven by the non-cash change in the fair value of the warrant liability and other permanent differences.

Leases

Leases	3 Months Ended
	Nov. 27, 2021
Leases [Abstract]
Lessee, Operating Leases	The components of lease expense were as follows: Thirteen Weeks Ended (In thousands) Statements of Operations Caption November 27, 2021 November 28, 2020 Operating lease cost: Lease cost Cost of goods sold and General and administrative $ 2,255 $ 1,498 Variable lease cost (1) Cost of goods sold and General and administrative 653 398 Total operating lease cost 2,908 1,896 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 68 68 Interest on lease liabilities Interest expense 9 13 Total finance lease cost 77 81 Total lease cost $ 2,985 $ 1,977 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. In conjunction with the Company’s restructuring activities as discussed in Note 13, Restructuring and Related Charges, the Company recorded an immaterial gain on lease termination related to its lease in the Netherlands in the thirteen weeks ended November 27, 2021 and a $0.4 million impairment charge related to its operating lease right-of-use asset for its lease in Toronto, Ontario in the thirteen weeks ended November 28, 2020. The effect of these restructuring activities has been included within General and administrative on the Condensed Consolidated Statements of Operations and Comprehensive Income. Refer to Note 13, Restructuring and Related Charges, for additional information regarding restructuring activities. The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption November 27, 2021 August 28, 2021 Assets Operating lease right-of-use assets Other long-term assets $ 50,116 $ 46,197 Finance lease right-of-use assets Property and equipment, net 571 640 Total lease assets $ 50,687 $ 46,837 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 4,774 $ 3,788 Finance lease liabilities Current maturities of long-term debt 289 285 Long-term: Operating lease liabilities Other long-term liabilities 48,297 44,892 Finance lease liabilities Long-term debt, less current maturities 331 405 Total lease liabilities $ 53,691 $ 49,370 Future maturities of lease liabilities as of November 27, 2021 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 5,490 $ 235 2023 8,349 278 2024 9,212 145 2025 8,462 — 2026 6,655 — Thereafter 26,063 — Total lease payments 64,231 658 Less: Interest (11,160) (38) Present value of lease liabilities $ 53,071 $ 620 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: November 27, 2021 August 28, 2021 Weighted-average remaining lease term (in years) Operating leases 7.83 8.38 Finance leases 2.20 2.44 Weighted-average discount rate Operating leases 4.8 % 4.9 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,054 $ 1,811 Operating cash flows from finance leases $ 148 $ 7 Financing cash flows from finance leases $ 78 $ 78
Lessee, Finance Leases	The components of lease expense were as follows: Thirteen Weeks Ended (In thousands) Statements of Operations Caption November 27, 2021 November 28, 2020 Operating lease cost: Lease cost Cost of goods sold and General and administrative $ 2,255 $ 1,498 Variable lease cost (1) Cost of goods sold and General and administrative 653 398 Total operating lease cost 2,908 1,896 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 68 68 Interest on lease liabilities Interest expense 9 13 Total finance lease cost 77 81 Total lease cost $ 2,985 $ 1,977 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs. In conjunction with the Company’s restructuring activities as discussed in Note 13, Restructuring and Related Charges, the Company recorded an immaterial gain on lease termination related to its lease in the Netherlands in the thirteen weeks ended November 27, 2021 and a $0.4 million impairment charge related to its operating lease right-of-use asset for its lease in Toronto, Ontario in the thirteen weeks ended November 28, 2020. The effect of these restructuring activities has been included within General and administrative on the Condensed Consolidated Statements of Operations and Comprehensive Income. Refer to Note 13, Restructuring and Related Charges, for additional information regarding restructuring activities. The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption November 27, 2021 August 28, 2021 Assets Operating lease right-of-use assets Other long-term assets $ 50,116 $ 46,197 Finance lease right-of-use assets Property and equipment, net 571 640 Total lease assets $ 50,687 $ 46,837 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 4,774 $ 3,788 Finance lease liabilities Current maturities of long-term debt 289 285 Long-term: Operating lease liabilities Other long-term liabilities 48,297 44,892 Finance lease liabilities Long-term debt, less current maturities 331 405 Total lease liabilities $ 53,691 $ 49,370 Future maturities of lease liabilities as of November 27, 2021 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 5,490 $ 235 2023 8,349 278 2024 9,212 145 2025 8,462 — 2026 6,655 — Thereafter 26,063 — Total lease payments 64,231 658 Less: Interest (11,160) (38) Present value of lease liabilities $ 53,071 $ 620 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: November 27, 2021 August 28, 2021 Weighted-average remaining lease term (in years) Operating leases 7.83 8.38 Finance leases 2.20 2.44 Weighted-average discount rate Operating leases 4.8 % 4.9 % Finance leases 5.6 % 5.6 % Supplemental and other information related to leases was as follows: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,054 $ 1,811 Operating cash flows from finance leases $ 148 $ 7 Financing cash flows from finance leases $ 78 $ 78

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 27, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Litigation The Company is a party to certain litigation and claims that are considered normal to the operations of the business. From time to time, the Company has been and may again become involved in legal proceedings arising in the ordinary course of business. The Company is not presently a party to any litigation that it believes to be material, and the Company is not aware of any pending or threatened litigation against it that its management believes could have a material adverse effect on its business, operating results, financial condition or cash flows. As of November 27, 2021 and August 28, 2021, the Company had $0.7 million reserved for potential settlements. Other The Company has entered into endorsement contracts with certain celebrity figures and social media influencers to promote and endorse the Atkins and Quest brands and product lines. These contracts contain endorsement fees, which are expensed ratably over the life of the contract, and performance fees, that are recognized at the time of achievement. Based on the terms of the contracts in place and achievement of performance conditions as of November 27, 2021, the Company will be required to make payments of $2.1 million over the next year.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Nov. 27, 2021
Equity [Abstract]
Stockholders' Equity	Warrants to Purchase Common Stock As of November 27, 2021, the Company has outstanding liability-classified Private Warrants that allow holders to purchase 6,700,000 shares of the Company’s common stock. Such Private Warrants are held by Conyers Park Sponsor, LLC, a related party. Each whole warrant entitles the holder to purchase one share of the Company’s common stock at a price of $11.50 per share. The warrants expire on July 7, 2022 or earlier upon redemption or liquidation, as applicable. As discussed in Note 6, Fair Value of Financial Instruments, the liability-classified warrants are remeasured on a recurring basis, primarily based on observable market data while the related theoretical private warrant volatility assumption within the Black-Scholes model represents a Level 3 measurement within the fair value measurement hierarchy. The periodic remeasurement of the warrant liability is reflected in (Loss) gain in fair value change of warrant liability within the Condensed Consolidated Statements of Operations and Comprehensive Income. Stock Repurchase Program On November 13, 2018, the Company announced that its Board of Directors had adopted a $50.0 million stock repurchase program. Under the stock repurchase program, the Company may repurchase shares from time to time in the open market or in privately negotiated transactions. The stock repurchase program does not obligate the Company to acquire any specific number of shares or acquire shares over any specific period of time. The stock repurchase program may be suspended or discontinued at any time by the Company and does not have an expiration date. During the thirteen weeks ended November 27, 2021 and November 28, 2020, the Company did not repurchase any shares of common stock. As of November 27, 2021, approximately $47.9 million remained available under the stock repurchase program.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Nov. 27, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Basic earnings or loss per share is based on the weighted average number of common shares issued and outstanding. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of all potentially dilutive securities. In periods in which the Company has a net loss, diluted earnings per share is based on the weighted average number of common shares issued and outstanding as the effect of including common stock equivalents outstanding would be anti-dilutive. As of November 27, 2021, the Company has outstanding liability-classified Private Warrants to purchase 6,700,000 shares of the Company’s common stock. During periods when the effect is dilutive, the Company assumes share settlement of the instruments as of the beginning of the reporting period and adjusts the numerator to remove the change in fair value of the warrant liability and adjusts the denominator to include the dilutive shares, calculated using the treasury stock method. During periods when the impact is anti-dilutive, the share settlement is excluded. The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share: Thirteen Weeks Ended (In thousands, except per share data) November 27, 2021 November 28, 2020 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 21,152 $ 42,953 Denominator: Weighted average common shares outstanding - basic 95,856,845 95,538,111 Basic earnings per share from net income $ 0.22 $ 0.45 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 21,152 $ 42,953 Gain in fair value change of warrant liability — (20,453) Numerator for diluted earnings per share $ 21,152 $ 22,500 Denominator: Weighted average common shares outstanding - basic 95,856,845 95,538,111 Private Warrants — 3,216,252 Employee stock options 1,652,577 899,375 Non-vested shares 352,151 109,381 Weighted average common shares - diluted 97,861,573 99,763,119 Diluted earnings per share from net income $ 0.22 $ 0.23 The diluted earnings per share calculation for the thirteen weeks ended November 27, 2021 excluded 4.6 million shares, issuable upon exercise of Private Warrants, that would have been anti-dilutive. Diluted earnings per share calculations for the thirteen weeks ended November 27, 2021 and November 28, 2020 excluded 0.2 million and 0.7 million shares of common stock issuable upon exercise of stock options, respectively, that would have been anti-dilutive. An immaterial number of non-vested restricted stock units that would have been anti-dilutive were excluded from diluted earnings per share calculations for the thirteen weeks ended November 27, 2021 and November 28, 2020.

Omnibus Incentive Plan

Omnibus Incentive Plan	3 Months Ended
	Nov. 27, 2021
Share-based Payment Arrangement [Abstract]
Stock Option Plan	Stock-based compensation includes stock options, restricted stock units, performance stock unit awards and stock appreciation rights, which are awarded to employees, directors, and consultants of the Company. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the award based on their grant date fair value. Stock-based compensation expense is included within General and administrative expense, which is the same financial statement caption where the recipient’s other compensation is reported. Stock Options The following table summarizes stock option activity for the thirteen weeks ended November 27, 2021: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 2,993,163 $ 16.31 Granted 138,479 40.88 Exercised (19,804) 13.83 Forfeited (2,300) 19.89 Outstanding as of November 27, 2021 3,109,538 $ 17.42 6.73 Vested and expected to vest as of November 27, 2021 3,109,538 $ 17.42 6.73 Exercisable as of November 27, 2021 2,494,944 $ 14.13 6.10 As of November 27, 2021, the Company had $6.5 million of total unrecognized compensation cost related to stock option plans that will be recognized over a weighted average period of 2.3 years. During the thirteen weeks ended November 27, 2021 and November 28, 2020, the Company received $0.3 million and $0.2 million in cash from stock option exercises, respectively. Restricted Stock Units The following table summarizes restricted stock unit activity for the thirteen weeks ended November 27, 2021: Units Weighted average Non-vested as of August 28, 2021 496,334 $ 24.56 Granted 129,423 39.54 Vested (139,459) 22.13 Forfeited (10,675) 25.72 Non-vested as of November 27, 2021 475,623 $ 29.34 As of November 27, 2021, the Company had $12.1 million of total unrecognized compensation cost related to restricted stock units that will be recognized over a weighted average period of 2.0 years. Performance Stock Units During the thirteen weeks ended November 27, 2021, the Board of Directors granted performance stock units under the Company’s equity compensation plan. Performance stock units vest in a range between 0% and 200% based upon certain performance criteria in a three The following table summarizes performance stock unit activity for the thirteen weeks ended November 27, 2021: Units Weighted average Non-vested as of August 28, 2021 380,097 $ 19.31 Granted 50,212 63.42 Vested (166,688) 11.93 Forfeited (6,350) 16.48 Non-vested as of November 27, 2021 257,271 $ 32.77 As of November 27, 2021, the Company had $5.7 million of total unrecognized compensation cost related to performance stock units that will be recognized over a weighted average period of 1.8 years. Stock Appreciation Rights Stock appreciation rights (“SARs”) permit the holder to participate in the appreciation of the Company’s common stock price and are awarded to non-employee, consultants of the Company. The Company’s SARs settle in shares of its common stock once the applicable vesting criteria has been met. SARs cliff vest three years from the date of grant and must be exercised within ten years. The following table summarizes SARs activity for the thirteen weeks ended November 27, 2021: Shares underlying SARs Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 150,000 $ 24.20 Granted — — Exercised — — Forfeited — — Outstanding as of November 27, 2021 150,000 $ 24.20 7.93 Vested and expected to vest as of November 27, 2021 150,000 $ 24.20 7.93 Exercisable as of November 27, 2021 — $ — 0.00 As of November 27, 2021, the Company had $0.1 million of total unrecognized compensation cost related to its SARs that will be recognized over a weighted average period of 0.9 years.

Restructuring and Related Charg

Restructuring and Related Charges	3 Months Ended
	Nov. 27, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	In May 2020, the Company announced certain restructuring activities in conjunction with the implementation of the Company’s future-state organization design, which created a fully integrated organization with its completed acquisition of Quest Nutrition, LLC on November 7, 2019. The new organization design became effective on August 31, 2020. These restructuring plans primarily include workforce reductions, changes in management structure, and the relocation of business activities from one location to another. The one-time termination benefits and employee severance costs to be incurred in relation to these restructuring activities are accounted for in accordance with ASC Topic 420, Exit or Disposal Cost Obligations, and ASC Topic 712, Compensation - Nonretirement Postemployment Benefits, respectively. The Company recognizes a liability and the related expense for these restructuring costs when the liability is incurred and can be measured. Restructuring accruals are based upon management estimates at the time and can change depending upon changes in facts and circumstances subsequent to the date the original liability was recorded. Changes to the restructuring liability during the thirteen weeks ended November 27, 2021 were as follows: (In thousands) Termination benefits and severance Other Restructuring liability Balance as of August 28, 2021 $ 851 $ — $ 851 Charges 44 28 72 Cash payments (748) (28) (776) Balance as of November 27, 2021 $ 147 $ — $ 147 In addition to the restructuring costs shown above, the Company recorded an immaterial gain on lease termination related to its lease in the Netherlands in the thirteen weeks ended November 27, 2021. As a result, the Company’s total restructuring and restructuring-related costs incurred in the thirteen weeks ended November 27, 2021 were immaterial. The Company incurred a total of $2.5 million in restructuring and restructuring-related costs in the thirteen weeks ended November 28, 2020. The effect of these restructuring activities has been included within General and administrative on the Condensed Consolidated Statements of Operations and Comprehensive Income. Since the restructuring activities were announced in May 2020, the Company has incurred aggregate restructuring and restructuring-related costs of $9.9 million. Overall, the Company expects to incur a total of approximately $10.1 million in restructuring and restructuring-related costs, which are to be paid through the second quarter of fiscal year 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Nov. 27, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Refer to Note 2, Summary of Significant Accounting Policies , to the consolidated financial statements included in the Annual Report for a description of significant accounting policies. Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. The amendments in this ASU are effective for all entities and can be applied to contract modifications due to rate reform and eligible existing and new hedging relationships entered into between March 12, 2020 and December 31, 2022. The amendments of this ASU should be applied on a prospective basis. The Company will continue to monitor the effects of rate reform, if any, on any new or amended contracts through December 31, 2022. The Company does not anticipate the amendments in this ASU will be material to its consolidated financial statements. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which amends existing guidance related to the accounting for income taxes. This ASU was intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. The Company adopted this ASU as of the first day of fiscal year 2022. The adoption of this ASU did not have a material effect on the consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which provided updates for technical corrections, clarifications to guidance, simplifications to wording or structure of guidance, and other minor improvements across various areas of accounting within GAAP. The Company adopted this ASU as of the first day of fiscal year 2022 on a prospective basis. The adoption of this ASU did not have a material effect on the consolidated financial statements. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material effect on the Company’s consolidated financial statements.
Basis of Accounting, Policy [Policy Text Block]	Unaudited Interim Condensed Consolidated Financial Statements The unaudited interim condensed consolidated financial statements include the accounts of Simply Good Foods and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refer to Simply Good Foods and its subsidiaries. The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in August of each year. The interim condensed consolidated financial statements and related notes of the Company and its subsidiaries are unaudited. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The unaudited interim condensed consolidated financial statements reflect all adjustments and disclosures which are, in the Company’s opinion, necessary for a fair presentation of the results of operations, financial position and cash flows for the indicated periods. All such adjustments were of a normal and recurring nature unless otherwise disclosed. The year-end balance sheet data was derived from the audited financial statements and, in accordance with the instructions to Form 10-Q, certain information and footnote disclosures required by GAAP have been condensed or omitted. The results reported in these unaudited interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire fiscal year and should be read in conjunction with the Company’s consolidated financial statements for the fiscal year ended August 28, 2021, included in the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the SEC on October 26, 2021. The Company remains uncertain of the ultimate effect COVID-19 could have on its business notwithstanding the distribution of several U.S. government approved vaccines, the availability of booster inoculations and the easing of movement restrictions relative to the onset of COVID-19. This uncertainty stems from the potential for, among other things, (i) the rise of COVID-19 mutations that have resulted in increased rates of reported cases for which currently approved vaccines are or may not be as effective, (ii) unexpected supply chain disruptions, including disruptions resulting from labor shortages or other human capital challenges, (iii) changes to customer operations, (iv) a reversal in recently improving consumer purchasing and consumption behavior, and (v) the closure of or reduced access to customer establishments.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Nov. 27, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue from transactions with external customers for each of the Company’s products would be impracticable to disclose and management does not view its business by product line. The following is a summary of revenue disaggregated by geographic area and core brands: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 North America (1) Atkins $ 133,794 $ 122,761 Quest (2) 138,294 95,769 Total North America 272,088 218,530 International 9,177 12,622 Total net sales $ 281,265 $ 231,152 (1) The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material. (2) Quest net sales are primarily in North America.

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	3 Months Ended
	Nov. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: November 27, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 33,003 140,997 Licensing agreements 13 years 22,000 7,144 14,856 Proprietary recipes and formulas 7 years 7,000 4,381 2,619 Software and website development costs 3 - 5 years 5,863 3,267 2,596 $ 1,182,863 $ 47,795 $ 1,135,068 August 28, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 30,103 143,897 Licensing agreements 13 years 22,000 6,664 15,336 Proprietary recipes and formulas 7 years 7,000 4,131 2,869 Software and website development costs 3 - 5 years 5,560 2,924 2,636 Intangible assets in progress 3 - 5 years 303 — 303 $ 1,182,863 $ 43,822 $ 1,139,041
Schedule of Indefinite-Lived Intangible Assets	Intangible assets, net in the Condensed Consolidated Balance Sheets consists of the following: November 27, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 33,003 140,997 Licensing agreements 13 years 22,000 7,144 14,856 Proprietary recipes and formulas 7 years 7,000 4,381 2,619 Software and website development costs 3 - 5 years 5,863 3,267 2,596 $ 1,182,863 $ 47,795 $ 1,135,068 August 28, 2021 (In thousands) Useful life Gross carrying amount Accumulated amortization Net carrying Intangible assets with indefinite life: Brands and trademarks Indefinite life $ 974,000 $ — $ 974,000 Intangible assets with finite lives: Customer relationships 15 years 174,000 30,103 143,897 Licensing agreements 13 years 22,000 6,664 15,336 Proprietary recipes and formulas 7 years 7,000 4,131 2,869 Software and website development costs 3 - 5 years 5,560 2,924 2,636 Intangible assets in progress 3 - 5 years 303 — 303 $ 1,182,863 $ 43,822 $ 1,139,041
Estimated Future Amortization	Estimated future amortization for each of the next five fiscal years and thereafter is as follows: (In thousands) Amortization Remainder of 2022 $ 11,867 2023 15,602 2024 14,917 2025 13,517 2026 13,517 2027 and thereafter 91,648 Total $ 161,068

Long-Term Debt and Line of Cr_2

Long-Term Debt and Line of Credit (Tables)	3 Months Ended
	Nov. 27, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consists of the following: (In thousands) November 27, 2021 August 28, 2021 Term Facility (effective rate of 4.8% at November 27, 2021) 431,500 456,500 Finance lease liabilities (effective rate of 5.6% at November 27, 2021) 620 690 Less: Deferred financing fees 4,814 5,636 Total debt 427,306 451,554 Less: Current finance lease liabilities 289 285 Long-term debt, net of deferred financing fees $ 427,017 $ 451,269

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Nov. 27, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs and Valuation Techniques	November 27, 2021 November 28, 2020 Exercise Price $ 11.50 $ 11.50 Stock Price $ 37.93 $ 22.36 Dividend Yield — % — % Expected Term (in Years) 0.61 1.60 Risk-Free Interest Rate 0.15 % 0.14 % Expected Volatility 27.34 % 25.60 % Per Share Value of Warrants $ 26.44 $ 10.92

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Nov. 27, 2021
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The tax expense and the effective tax rate resulting from operations were as follows: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 Income before income taxes $ 33,975 $ 51,327 Income tax expense $ 12,823 $ 8,374 Effective tax rate 37.7 % 16.3 %

Leases (Tables)

Leases (Tables)	3 Months Ended
	Nov. 27, 2021
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Thirteen Weeks Ended (In thousands) Statements of Operations Caption November 27, 2021 November 28, 2020 Operating lease cost: Lease cost Cost of goods sold and General and administrative $ 2,255 $ 1,498 Variable lease cost (1) Cost of goods sold and General and administrative 653 398 Total operating lease cost 2,908 1,896 Finance lease cost: Amortization of right-of-use assets Cost of goods sold 68 68 Interest on lease liabilities Interest expense 9 13 Total finance lease cost 77 81 Total lease cost $ 2,985 $ 1,977 (1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.
Lease assets and liabilities	The right-of-use assets and corresponding liabilities related to both operating and finance leases are as follows: (In thousands) Balance Sheets Caption November 27, 2021 August 28, 2021 Assets Operating lease right-of-use assets Other long-term assets $ 50,116 $ 46,197 Finance lease right-of-use assets Property and equipment, net 571 640 Total lease assets $ 50,687 $ 46,837 Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 4,774 $ 3,788 Finance lease liabilities Current maturities of long-term debt 289 285 Long-term: Operating lease liabilities Other long-term liabilities 48,297 44,892 Finance lease liabilities Long-term debt, less current maturities 331 405 Total lease liabilities $ 53,691 $ 49,370
Finance Lease, Liability, Maturity	Future maturities of lease liabilities as of November 27, 2021 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 5,490 $ 235 2023 8,349 278 2024 9,212 145 2025 8,462 — 2026 6,655 — Thereafter 26,063 — Total lease payments 64,231 658 Less: Interest (11,160) (38) Present value of lease liabilities $ 53,071 $ 620
Lessee, Operating Lease, Liability, Maturity	Future maturities of lease liabilities as of November 27, 2021 were as follows: (In thousands) Operating Leases Finance Leases Fiscal year ending: Remainder of 2022 $ 5,490 $ 235 2023 8,349 278 2024 9,212 145 2025 8,462 — 2026 6,655 — Thereafter 26,063 — Total lease payments 64,231 658 Less: Interest (11,160) (38) Present value of lease liabilities $ 53,071 $ 620
Schedule of Weighted Average Remaining Lease Terms	The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: November 27, 2021 August 28, 2021 Weighted-average remaining lease term (in years) Operating leases 7.83 8.38 Finance leases 2.20 2.44 Weighted-average discount rate Operating leases 4.8 % 4.9 % Finance leases 5.6 % 5.6 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental and other information related to leases was as follows: Thirteen Weeks Ended (In thousands) November 27, 2021 November 28, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,054 $ 1,811 Operating cash flows from finance leases $ 148 $ 7 Financing cash flows from finance leases $ 78 $ 78

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Nov. 27, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share: Thirteen Weeks Ended (In thousands, except per share data) November 27, 2021 November 28, 2020 Basic earnings per share computation: Numerator: Net income available to common stockholders $ 21,152 $ 42,953 Denominator: Weighted average common shares outstanding - basic 95,856,845 95,538,111 Basic earnings per share from net income $ 0.22 $ 0.45 Diluted earnings per share computation: Numerator: Net income available for common stockholders $ 21,152 $ 42,953 Gain in fair value change of warrant liability — (20,453) Numerator for diluted earnings per share $ 21,152 $ 22,500 Denominator: Weighted average common shares outstanding - basic 95,856,845 95,538,111 Private Warrants — 3,216,252 Employee stock options 1,652,577 899,375 Non-vested shares 352,151 109,381 Weighted average common shares - diluted 97,861,573 99,763,119 Diluted earnings per share from net income $ 0.22 $ 0.23

Omnibus Incentive Plan (Tables)

Omnibus Incentive Plan (Tables)	3 Months Ended
	Nov. 27, 2021
Share-based Payment Arrangement [Abstract]
Stock option activity	The following table summarizes stock option activity for the thirteen weeks ended November 27, 2021: Shares underlying options Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 2,993,163 $ 16.31 Granted 138,479 40.88 Exercised (19,804) 13.83 Forfeited (2,300) 19.89 Outstanding as of November 27, 2021 3,109,538 $ 17.42 6.73 Vested and expected to vest as of November 27, 2021 3,109,538 $ 17.42 6.73 Exercisable as of November 27, 2021 2,494,944 $ 14.13 6.10
Restricted stock activity	The following table summarizes restricted stock unit activity for the thirteen weeks ended November 27, 2021: Units Weighted average Non-vested as of August 28, 2021 496,334 $ 24.56 Granted 129,423 39.54 Vested (139,459) 22.13 Forfeited (10,675) 25.72 Non-vested as of November 27, 2021 475,623 $ 29.34
Performance stock unit activity	The following table summarizes performance stock unit activity for the thirteen weeks ended November 27, 2021: Units Weighted average Non-vested as of August 28, 2021 380,097 $ 19.31 Granted 50,212 63.42 Vested (166,688) 11.93 Forfeited (6,350) 16.48 Non-vested as of November 27, 2021 257,271 $ 32.77
Stock appreciation right activity	The following table summarizes SARs activity for the thirteen weeks ended November 27, 2021: Shares underlying SARs Weighted average Weighted average remaining contractual life (years) Outstanding as of August 28, 2021 150,000 $ 24.20 Granted — — Exercised — — Forfeited — — Outstanding as of November 27, 2021 150,000 $ 24.20 7.93 Vested and expected to vest as of November 27, 2021 150,000 $ 24.20 7.93 Exercisable as of November 27, 2021 — $ — 0.00

Restructuring and Related Cha_2

Restructuring and Related Charges (Tables)	3 Months Ended
	Nov. 27, 2021
Restructuring and Related Activities [Abstract]
Changes to Restructuring Liability	Changes to the restructuring liability during the thirteen weeks ended November 27, 2021 were as follows: (In thousands) Termination benefits and severance Other Restructuring liability Balance as of August 28, 2021 $ 851 $ — $ 851 Charges 44 28 72 Cash payments (748) (28) (776) Balance as of November 27, 2021 $ 147 $ — $ 147

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Disaggregation of revenue
Net sales	$ 281,265	$ 231,152
North America
Disaggregation of revenue
Net sales	272,088	218,530
International
Disaggregation of revenue
Net sales	9,177	12,622
Atkins
Disaggregation of revenue
Net sales	133,794	122,761
Quest
Disaggregation of revenue
Net sales	$ 138,294	$ 95,769

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Millions	3 Months Ended
	Nov. 28, 2020	Nov. 27, 2021	Aug. 28, 2021
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts		$ 1.2	$ 1.1
Credit loss expense (reversal), accounts receivable	$ 0.1

Goodwill Rollforward (Details)

Goodwill Rollforward (Details) - USD ($) $ in Thousands	Nov. 27, 2021	Aug. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 543,134	$ 543,134

Goodwill Narrative (Details)

Goodwill Narrative (Details) $ in Thousands	Nov. 27, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charges	$ 0

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 28, 2021	Nov. 27, 2021
Intangible assets with finite lives:
Intangible assets, gross carrying amount	$ 1,182,863	$ 1,182,863
Finite-lived intangible assets, accumulated amortization	43,822	47,795
Intangible assets, net carrying amount	$ 1,139,041	1,135,068
Finite-lived intangible assets, net carrying amount		$ 161,068
Customer relationships
Intangible assets with finite lives:
Useful life	15 years	15 years
Finite-lived intangible assets, gross carrying amount	$ 174,000	$ 174,000
Finite-lived intangible assets, accumulated amortization	30,103	33,003
Finite-lived intangible assets, net carrying amount	$ 143,897	$ 140,997
Licensing agreements
Intangible assets with finite lives:
Useful life	13 years	13 years
Finite-lived intangible assets, gross carrying amount	$ 22,000	$ 22,000
Finite-lived intangible assets, accumulated amortization	6,664	7,144
Finite-lived intangible assets, net carrying amount	$ 15,336	$ 14,856
Proprietary recipes and formulas
Intangible assets with finite lives:
Useful life	7 years	7 years
Finite-lived intangible assets, gross carrying amount	$ 7,000	$ 7,000
Finite-lived intangible assets, accumulated amortization	4,131	4,381
Finite-lived intangible assets, net carrying amount	2,869	2,619
Software and website development costs
Intangible assets with finite lives:
Finite-lived intangible assets, gross carrying amount	5,560	5,863
Finite-lived intangible assets, accumulated amortization	2,924	3,267
Finite-lived intangible assets, net carrying amount	$ 2,636	$ 2,596
Minimum | Software and website development costs
Intangible assets with finite lives:
Useful life	3 years	3 years
Minimum | Intangible assets in progress
Intangible assets with finite lives:
Useful life	3 years
Maximum | Software and website development costs
Intangible assets with finite lives:
Useful life	5 years	5 years
Maximum | Intangible assets in progress
Intangible assets with finite lives:
Useful life	5 years
Finite-lived intangible assets, gross carrying amount	$ 303
Finite-lived intangible assets, accumulated amortization	0
Finite-lived intangible assets, net carrying amount	303
Brands and trademarks
Intangible assets with indefinite lives:
Indefinite-lived intangible assets	$ 974,000	$ 974,000

Intangibles Narrative (Details)

Intangibles Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization expense	$ 4	$ 3.9
Impairment of intangible assets, excluding goodwill	$ 0	$ 0

Estimated Future Amortization (

Estimated Future Amortization (Details) $ in Thousands	Nov. 27, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 11,867
2022	15,602
2023	14,917
2024	13,517
2025	13,517
2027 and thereafter	91,648
Finite-lived intangible assets, net carrying amount	$ 161,068

Long-Term Debt and Line of Cr_3

Long-Term Debt and Line of Credit - Narrative (Details) - USD ($) $ in Millions	Nov. 07, 2019	Mar. 16, 2018	Jul. 07, 2017	Nov. 27, 2021
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount				$ 3.5
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				4.80%
Proceeds from long-term line of credit	$ 460
Repayments of principal in next twelve months				$ 0
Term Loan | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%
Finance leases
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				5.60%
Barclays Bank PLC and Other Parties | Term Loan
Debt Instrument [Line Items]
Borrowing capacity			$ 200
Maturity period			7 years
Barclays Bank PLC and Other Parties | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity			$ 75
Maturity period			5 years
Net leverage ratio post reduction (equal to or less than)			6
Percent of commitments (in excess of)			30.00%
Line of Credit | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Line of Credit | Barclays Bank PLC and Other Parties | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%	0.50%
Line of Credit | Barclays Bank PLC and Other Parties | Eurocurrency
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Line of Credit | Barclays Bank PLC and Other Parties | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | Eurocurrency
Debt Instrument [Line Items]
Basis spread on variable rate			3.00%
Line of Credit | Barclays Bank PLC and Other Parties | Term Loan | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			4.00%
Interest rate floor			1.00%
Line of Credit | Barclays Bank PLC and Other Parties | Revolving Credit Facility | Eurocurrency
Debt Instrument [Line Items]
Basis spread on variable rate			2.00%
Line of Credit | Barclays Bank PLC and Other Parties | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			3.00%

Long-Term Debt and Line of Cr_4

Long-Term Debt and Line of Credit - Schedule of Debt (Details) - USD ($) $ in Thousands	Nov. 27, 2021	Aug. 28, 2021
Debt Disclosure [Abstract]
Term Facility (effective rate of 4.8% at November 27, 2021)	$ 431,500	$ 456,500
Finance lease liabilities (effective rate of 5.6% at November 27, 2021)	620	690
Less: Deferred financing fees	4,814	5,636
Total debt	427,306	451,554
Less: Current finance lease liabilities	(289)	(285)
Long-term debt, net of deferred financing fees	$ 427,017	$ 451,269

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020	Aug. 28, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Company share price	$ 37.93	$ 22.36
Expected term of warrants	7 months 9 days	1 year 7 months 6 days
Risk free interest rate	0.15%	0.14%
Expected volatility rate	27.34%	25.60%
Per share fair value of warrants	$ 26.44	$ 10.92
Loss (gain) in fair value change of warrant liability	$ 17,317	$ (20,453)
Warrant liability	$ 177,152	$ 73,200	$ 159,835
Private Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price of warrants	$ 11.50	$ 11.50
Loss (gain) in fair value change of warrant liability	$ (17,300)	$ (20,500)
Private Placement Warrants
Fair Value Disclosures [Abstract]
Warrants outstanding	6,700,000
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants outstanding	6,700,000
Exercise price of warrants	$ 11.50

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Income Tax Disclosure [Abstract]
Income before income taxes	$ 33,975	$ 51,327
Income tax expense	$ 12,823	$ 8,374
Effective tax rate	37.70%	16.30%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Nov. 27, 2021
Income Tax Disclosure [Abstract]
Effective tax rate difference	21.40%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020	Aug. 28, 2021
Components of lease expense
Lease cost	$ 2,255	$ 1,498
Variable lease cost (1)	653	398
Total operating lease cost	2,908	1,896
Amortization of right-of-use assets	68	68
Interest on lease liabilities	9	13
Total finance lease cost	77	81
Total lease cost	2,985	1,977
Assets and liabilities, lessee
Operating lease, right-of-use asset	50,116		$ 46,197
Finance lease, right-of-use asset	571		640
Total lease assets	50,687		46,837
Operating lease, liability, current	4,774		3,788
Finance lease, liability, current	289		285
Operating lease, liability, noncurrent	48,297		44,892
Finance lease, liability, noncurrent	331		405
Total lease liabilities	53,691		49,370
Future maturities of lease liabilities, operating leases
Remainder of 2022	5,490
2023	8,349
2024	9,212
2025	8,462
2026	6,655
Thereafter	26,063
Total lease payments	64,231
Less: Interest	(11,160)
Present value of lease liabilities	53,071
Future maturities of lease liabilities, finance leases
Remainder of 2022	235
2023	278
2024	145
2025	0
2026	0
Thereafter	0
Total lease payments	658
Less: Interest	(38)
Present value of lease liabilities	620		$ 690
Loss on operating lease right-of-use asset impairment	0	354
Lessee, Lease, Description [Line Items]
Loss on operating lease right-of-use asset impairment	0	354
Gain on termination of lease	$ 30	0
Finance Lease, Weighted Average Discount Rate, Percent	5.60%		5.60%
Finance Lease, Weighted Average Remaining Lease Term	2 years 2 months 12 days		2 years 5 months 8 days
Operating Lease, Weighted Average Discount Rate, Percent	4.80%		4.90%
Operating Lease, Weighted Average Remaining Lease Term	7 years 9 months 29 days		8 years 4 months 17 days
Supplemental and other information related to leases
Operating cash flows from operating leases	$ 2,054	1,811
Operating cash flows from finance leases	148	7
Financing cash flows from finance leases	$ 78	$ 78

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Nov. 27, 2021	Aug. 28, 2021
Commitments and Contingencies Disclosure [Abstract]
Other commitment payment obligation	$ 2.1
Loss Contingency Accrual	$ 0.7	$ 0.7

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Nov. 28, 2020	Nov. 27, 2021	Nov. 13, 2018
Class of Stock [Line Items]
Repurchase of common stock (in shares)	0
Stock repurchase program, remaining authorized repurchase amount		$ 47.9
Private Placement Warrants
Class of Stock [Line Items]
Exercise price of warrants		$ 11.50
Treasury Stock
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 50

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Earnings per share, diluted
Loss (gain) in fair value change of warrant liability	$ 17,317	$ (20,453)
Numerator:
Net income	$ 21,152	$ 42,953
Denominator:
Weighted average common shares - basic	95,856,845	95,538,111
Basic earnings per share from net income (in dollars per share)	$ 0.22	$ 0.45
Numerator:
Net income	$ 21,152	$ 42,953
Loss (gain) in fair value change of warrant liability	17,317	(20,453)
Numerator for diluted earnings per share	$ 21,152	$ 22,500
Denominator:
Weighted average common shares - basic	95,856,845	95,538,111
Employee stock options	1,652,577	899,375
Non-vested shares	352,151	109,381
Weighted average common shares - diluted	97,861,573	99,763,119
Diluted earnings per share from net income (in dollars per share)	$ 0.22	$ 0.23
Private Warrants
Earnings per share, diluted
Loss (gain) in fair value change of warrant liability	$ 0	$ (20,453)
Private Warrants	0	3,216,252
Numerator:
Loss (gain) in fair value change of warrant liability	$ 0	$ (20,453)
Denominator:
Private Warrants	0	3,216,252
Private Warrants
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	4,600,000
Stock Options
Earnings per share, diluted
Antidilutive securities excluded from computation of earnings per share	200,000	700,000

Omnibus Incentive Plan (Details

Omnibus Incentive Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$ 2,605	$ 1,110
Stock compensation expense	$ 2,605	$ 1,110

Omnibus Incentive Plan - Stock

Omnibus Incentive Plan - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Additional disclosures
Proceeds from option exercises	$ 274	$ 157
Stock Options
Shares
Outstanding at beginning of period (in shares)	2,993,163
Granted (in shares)	138,479
Exercised (in shares)	(19,804)
Forfeited (in shares)	(2,300)
Outstanding at end of period (in shares)	3,109,538
Options vested or expected to vest (in shares)	3,109,538
Exercisable (in shares)	2,494,944
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)	$ 16.31
Granted (in dollars per share)	40.88
Exercised (in dollars per share)	13.83
Forfeited (in dollars per share)	19.89
Outstanding at end of period (in dollars per share)	17.42
Options vested or expected to vest (in dollars per share)	17.42
Exercisable (in dollars per share)	$ 14.13
Weighted average remaining contractual term
Outstanding at end of period, weighted average remaining contractual life	6 years 8 months 23 days
Vested and expected to vest at end of period, weighted average remaining contractual life	6 years 8 months 23 days
Exercisable at end of period, weighted average remaining contractual life	6 years 1 month 6 days
Additional disclosures
Unrecognized compensation costs	$ 6,500
Period for recognition of unrecognized compensation cost	2 years 3 months 18 days
Proceeds from option exercises	$ 300	$ 200

Omnibus Incentive Plan - Restri

Omnibus Incentive Plan - Restricted Stock Units Activity (Details) - Restricted Stock Units $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 27, 2021USD ($)$ / sharesshares
Units
Non-vested at beginning of period (in shares) | shares	496,334
Granted (in shares) | shares	129,423
Vested (in shares) | shares	(139,459)
Forfeited (in shares) | shares	(10,675)
Non-vested at end of period (in shares) | shares	475,623
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 24.56
Granted (in dollars per share) | $ / shares	39.54
Vested (in dollars per share) | $ / shares	22.13
Forfeited (in dollars per share) | $ / shares	25.72
Non-vested at end of period (in dollars per share) | $ / shares	$ 29.34
Additional disclosures
Unrecognized compensation costs | $	$ 12.1
Period for recognition of unrecognized compensation cost	2 years

Omnibus Incentive Plan - Perfor

Omnibus Incentive Plan - Performance Stock Units Activity (Details) - Performance Stock Units $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 27, 2021USD ($)$ / sharesshares
Units
Non-vested at beginning of period (in shares) | shares	380,097
Granted (in shares) | shares	50,212
Vested (in shares) | shares	(166,688)
Forfeited (in shares) | shares	(6,350)
Non-vested at end of period (in shares) | shares	257,271
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 19.31
Granted (in dollars per share) | $ / shares	63.42
Vested (in dollars per share) | $ / shares	11.93
Forfeited (in dollars per share) | $ / shares	16.48
Non-vested at end of period (in dollars per share) | $ / shares	$ 32.77
Additional disclosures
Period for recognition of unrecognized compensation cost	1 year 9 months 18 days
Unrecognized compensation costs | $	$ 5.7
Requisite service period	3 years
Minimum
Additional disclosures
Performance stock vesting range	0.00%
Maximum
Additional disclosures
Performance stock vesting range	200.00%

Omnibus Incentive Plan - Stoc_2

Omnibus Incentive Plan - Stock Appreciation Rights (Activity) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Nov. 27, 2021USD ($)$ / sharesshares
Additional disclosures
Award vesting period	3 years
Award expiration period	10 years
Stock Appreciation Rights (SARs)
Shares
Outstanding at beginning of period (in shares) | shares	150,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Forfeited (in shares) | shares	0
Outstanding at end of period (in shares) | shares	150,000
Options vested or expected to vest (in shares) | shares	150,000
Exercisable (in shares) | shares	0
Weighted average exercise price
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 24.20
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Outstanding at end of period (in dollars per share) | $ / shares	24.20
Options vested or expected to vest (in dollars per share) | $ / shares	24.20
Exercisable (in dollars per share) | $ / shares	$ 0
Weighted average remaining contractual term
Vested and expected to vest at end of period, weighted average remaining contractual life	7 years 11 months 4 days
Outstanding at end of period, weighted average remaining contractual life	7 years 11 months 4 days
Exercisable at end of period, weighted average remaining contractual life	0 years
Additional disclosures
Unrecognized compensation costs | $	$ 0.1
Period for recognition of unrecognized compensation cost	10 months 24 days

Restructuring and Related Cha_3

Restructuring and Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 27, 2021	Nov. 28, 2020
Restructuring and Related Charges
Loss on operating lease right-of-use asset impairment	$ 0	$ 354
Gain on termination of lease	(30)	$ 0
Restructuring incurred cost	2,500
Aggregate restructuring costs	9,900
Expected restructuring costs	10,100
Changes to the restructuring liability
Balance as of August 28, 2021	851
Charges	72
Cash payments	(776)
Balance as of November 27, 2021	147
Termination benefits and severance
Changes to the restructuring liability
Balance as of August 28, 2021	851
Charges	44
Cash payments	(748)
Balance as of November 27, 2021	147
Other restructuring
Changes to the restructuring liability
Balance as of August 28, 2021	0
Charges	28
Cash payments	(28)
Balance as of November 27, 2021	$ 0