Savers Value Village (SVV) 10-K 21 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Feb. 10, 2025	Jun. 29, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 28, 2024
Current Fiscal Year End Date	--12-28
Document Transition Report	false
Entity File Number	001-04321
Entity Registrant Name	Savers Value Village, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-4165683
Entity Address, Address Line One	11400 S.E. 6th Street
Entity Address, Address Line Two	Suite 125
Entity Address, City or Town	Bellevue
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98004
City Area Code	425
Local Phone Number	462-1515
Title of 12(b) Security	Common Stock, par value $0.000001 per share
Trading Symbol	SVV
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 329.9
Entity Common Stock, Shares Outstanding		158,707,876
Documents Incorporated by Reference	Portions of the Company’s Proxy Statement for the Annual Meeting of Shareholders to be held on June 4, 2025, are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0001883313
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 28, 2024
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Boise, Idaho
Auditor Firm ID	185

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 1,537,617	$ 1,500,249	$ 1,437,229
Operating expenses:
Cost of merchandise sold, exclusive of depreciation and amortization	669,744	619,671	599,926
Salaries, wages and benefits	331,023	366,189	273,587
Selling, general and administrative	337,131	311,388	301,737
Depreciation and amortization	69,530	61,144	55,753
Total operating expenses	1,407,428	1,358,392	1,231,003
Operating income	130,189	141,857	206,226
Other (expense) income:
Interest expense, net	(62,444)	(88,500)	(64,744)
(Loss) gain on foreign currency, net	(14,294)	6,660	(20,737)
Other income, net	71	3,688	4,576
Loss on extinguishment of debt	(4,088)	(16,626)	(1,023)
Other expense, net	(80,755)	(94,778)	(81,928)
Income before income taxes	49,434	47,079	124,298
Income tax expense (benefit)	20,404	(6,036)	39,578
Net income	29,030	53,115	84,720
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(7,649)	(995)	6,514
Cash flow hedges	(8,613)	(7,969)	18,473
Other comprehensive (loss) income	(16,262)	(8,964)	24,987
Comprehensive income	$ 12,768	$ 44,151	$ 109,707
Net income per share, basic (in usd per share)	$ 0.18	$ 0.35	$ 0.60
Net income per share, diluted (in usd per share)	$ 0.17	$ 0.34	$ 0.58
Basic weighted average shares outstanding (in shares)	160,911,000	151,027,000	141,561,000
Diluted weighted average shares outstanding (in shares)	166,706,000	156,156,000	146,049,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 149,967	$ 179,955
Trade receivables, net	16,761	11,767
Inventories	34,288	32,820
Prepaid expenses and other current assets	24,634	25,691
Derivative assets – current	4,574	7,691
Total current assets	230,224	257,924
Property and equipment, net	270,123	229,405
Right-of-use lease assets	552,762	499,375
Goodwill	665,465	687,368
Intangible assets, net	159,330	166,681
Deferred tax assets, net	3,801	0
Other assets	3,790	3,133
Derivative assets - non-current	0	23,519
Total assets	1,885,495	1,867,405
Current liabilities:
Accounts payable and accrued liabilities	83,039	92,550
Accrued payroll and related taxes	52,252	65,096
Lease liabilities – current	89,809	79,306
Current portion of long-term debt	6,000	4,500
Total current liabilities	231,100	241,452
Long-term debt, net	735,133	784,593
Lease liabilities – non-current	472,343	419,407
Other liabilities	25,239	17,989
Deferred tax liabilities, net	0	27,909
Total liabilities	1,463,815	1,491,350
Commitments and contingencies (see Note 16)
Stockholders’ equity:
Preferred stock, $0.000001 par value, 100,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, $0.000001 par value, 800,000 shares authorized; 159,164 and 160,453 shares issued and outstanding	0	0
Additional paid-in capital	657,906	593,109
Accumulated deficit	(250,451)	(247,541)
Accumulated other comprehensive income	14,225	30,487
Total stockholders’ equity	421,680	376,055
Total liabilities and stockholders’ equity	$ 1,885,495	$ 1,867,405

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 28, 2024	Dec. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.000001	$ 0.000001
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.000001	$ 0.000001
Common stock, shares authorized (in shares)	800,000,000	800,000,000
Common stock, shares issued (in shares)	159,164,000	160,453,000
Common stock, shares, outstanding (in shares)	159,164,000	160,453,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Common A Units	Common Stock Common B Units	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Jan. 01, 2022		0	141,545	0
Beginning balance at Jan. 01, 2022	$ 185,432	$ 0	$ 223,379	$ 1,297	$ 0	$ (53,708)	$ 14,464
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Corporate conversion of common units to common stock (in shares)		141,545	(141,545)
Corporate conversion of common units to common stock	0		$ (223,379)	$ (1,297)	224,676
Stock-based compensation expense	1,943				1,943
Stock issued under stock incentive plans, net (in shares)		45
Stock issued under stock incentive plans, net	(292)				(292)
Dividends declared	(69,455)					(69,455)
Comprehensive income (loss)	109,707					84,720	24,987
Ending balance (in shares) at Dec. 31, 2022		141,590	0	0
Ending balance at Dec. 31, 2022	227,335	$ 0	$ 0	$ 0	226,327	(38,443)	39,451
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from initial public offering, net of underwriting fees and offering costs (in shares)		18,750
Proceeds from initial public offering, net of underwriting fees and offering costs	295,027				295,027
Stock-based compensation expense	72,604				72,604
Stock issued under stock incentive plans, net (in shares)		158
Stock issued under stock incentive plans, net	(150)				(150)
Repurchase of common stock (in shares)		(45)
Repurchase of common stock	(699)				(699)
Dividends declared	(262,213)					(262,213)
Comprehensive income (loss)	$ 44,151					53,115	(8,964)
Ending balance (in shares) at Dec. 30, 2023	160,453	160,453	0	0
Ending balance at Dec. 30, 2023	$ 376,055	$ 0	$ 0	$ 0	593,109	(247,541)	30,487
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	61,636				61,636
Stock issued under stock incentive plans, net (in shares)		1,920
Stock issued under stock incentive plans, net	3,161				3,161
Repurchase of common stock (in shares)		(3,209)
Repurchase of common stock	(31,940)					(31,940)
Comprehensive income (loss)	$ 12,768					29,030	(16,262)
Ending balance (in shares) at Dec. 28, 2024	159,164	159,164	0	0
Ending balance at Dec. 28, 2024	$ 421,680	$ 0	$ 0	$ 0	$ 657,906	$ (250,451)	$ 14,225

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in usd per share)	$ 1.32	$ 0.35
Underwriting fees and issuance costs	$ 42,473

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 29,030	$ 53,115	$ 84,720
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	61,636	72,604	1,943
Amortization of debt issuance costs and debt discount	5,611	6,051	4,005
Depreciation and amortization	69,530	61,144	55,753
Operating lease expense	132,173	119,908	114,788
Deferred income taxes, net	(31,880)	(35,249)	20,261
Loss on extinguishment of debt	4,088	16,626	1,023
Other items	9,048	(15,055)	22,795
Changes in operating assets and liabilities, net of acquisition:
Trade receivables	(5,748)	740	(8,053)
Inventories	(1,898)	(10,926)	2,246
Prepaid expenses and other current assets	1,073	3,659	(16,928)
Accounts payable and accrued liabilities	(8,046)	8,154	6,887
Accrued payroll and related taxes	(10,688)	2,428	(12,632)
Operating lease liabilities	(122,630)	(110,438)	(104,685)
Other liabilities	2,977	2,404	(2,690)
Net cash provided by operating activities	134,276	175,165	169,433
Cash flows from investing activities:
Purchases of property and equipment	(105,877)	(91,743)	(110,173)
Settlement of derivative instruments, net	28,543	28	(329)
Business acquisition, net of cash acquired	(3,189)	0	0
Purchase of trade name	0	(650)	0
Net cash used in investing activities	(80,523)	(92,365)	(110,502)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net	0	529,247	0
Principal payments on long-term debt	(55,500)	(547,931)	(10,991)
Payment of debt issuance costs	(1,004)	(4,359)	(626)
Prepayment premium on extinguishment of debt	(1,485)	(1,650)	(1,023)
Advances on revolving line of credit	0	42,000	102,000
Repayments of revolving line of credit	0	(84,000)	(60,000)
Proceeds from stock option exercises	3,721	0	0
Dividends paid	0	(262,235)	(69,433)
Repurchase of common stock under share repurchase program	(31,674)	0	0
Proceeds from initial public offering, net	0	314,719	0
Payment of offering costs	0	(9,061)	0
Repurchase of shares and shares withheld for taxes	(560)	(849)	(292)
Settlement of derivative instrument, net	11,925	8,601	147
Principal payments on finance lease liabilities	(1,615)	(1,526)	0
Other	(438)	0	0
Net cash used in financing activities	(76,630)	(17,044)	(40,218)
Effect of exchange rate changes on cash and cash equivalents	(7,111)	2,067	(4,496)
Net change in cash and cash equivalents	(29,988)	67,823	14,217
Cash and cash equivalents at beginning of period	179,955	112,132	97,915
Cash and cash equivalents at end of period	149,967	179,955	112,132
Supplemental disclosures of cash flow information:
Interest paid on debt	75,409	79,133	62,157
Income taxes paid, net	48,201	22,480	31,168
Supplemental disclosure of noncash investing activities:
Noncash capital expenditures	$ 3,787	$ 5,276	$ 6,414

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Dec. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of business Savers Value Village, Inc., a Washington State based company, together with its wholly owned subsidiaries (the “Company”, “we”, “us” or “our”), sells secondhand merchandise primarily in retail stores located in the United States (“U.S.”), Canada and Australia. Items that are unsuited for or unsold at retail stores are marketed to wholesale customers. Basis of presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. These consolidated financial statements present the results of operations, financial position and cash flows of the Company in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company reports on a fiscal year basis, which ends on the Saturday nearest December 31. Fiscal year 2024 consisted of the 52 weeks ended December 28, 2024, fiscal year 2023 consisted of the 52 weeks ended December 30, 2023 and fiscal year 2022 consisted of the 52 weeks ended December 31, 2022. All amounts in the Notes to the Consolidated Financial Statements, with the exception of per share amounts, are rounded to the nearest thousand unless otherwise indicated. Corporate Conversion On January 7, 2022, S-Evergreen Holding LLC converted into a Delaware corporation and the name of the Company was changed to Savers Value Village, Inc. (the “Corporate Conversion”). In the Corporate Conversion, equityholders of S-Evergreen Holding LLC received one share of common stock of Savers Value Village, Inc. for each Class A Unit of S-Evergreen Holding LLC and corresponding adjustments were made to the Company’s outstanding equity awards. Initial public offering The registration statement related to our initial public offering (“IPO”) was declared effective on June 28, 2023, and our common stock began trading on the New York Stock Exchange on June 29, 2023. On July 3, 2023, we completed our IPO for the sale of 18.8 million shares of our common stock, $0.000001 par value per share, at a public offering price of $18.00 per share. Net proceeds to the Company from the IPO were $295.0 million after deducting underwriting discounts and commissions of $22.8 million and offering expenses of $19.7 million. In addition to the 18.8 million shares sold by the Company, certain funds, investment vehicles or accounts managed or advised by the Private Equity Group of Ares Management Corporation (the “selling stockholders”) sold 6.9 million shares, including 3.3 million shares pursuant to the exercise of the underwriters’ over-allotment option. The Company did not receive any proceeds from sales made by the selling stockholders. Authorized shares In connection with the Company’s IPO, the Company filed an amended and restated certificate of incorporation (the “A&R Charter”) on June 29, 2023. The Company also amended and restated its bylaws, effective as of June 28, 2023. The A&R Charter authorized 800.0 million shares of common stock, par value $0.000001 per share, and 100.0 million shares of preferred stock, par value $0.000001 per share. Each share of common stock entitles its holder to one vote per share on all matters to be voted on by stockholders and to receive dividends when and as declared by the board of directors from legally available sources, subject to the prior rights of the holders of our preferred stock. Common stockholders are not entitled to preemptive rights and are therefore subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that the board of directors may designate and issue in the future. In the event of a liquidation, dissolution or winding-up, the assets legally available for distribution to the Company’s stockholders would be distributable ratably among the holders of common stock and any participating preferred stock outstanding at that time after payment of liquidation preferences, if any, on any outstanding shares of preferred stock and payment of claims of creditors.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 28, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of estimates The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. These estimates are based on available information and on various other assumptions that are believed to be reasonable under the circumstances. Certain items subject to such estimates and assumptions include, but are not limited to, the valuation of insurance reserves, impairment assessments associated with our goodwill and indefinite-lived intangible assets, and income taxes. Actual results could vary from those estimates under different assumptions or conditions. Foreign currency The functional currency of the Company’s foreign entities is the local currency of the country in which the entity operates. Assets and liabilities of foreign operations are translated into U.S. dollars, the reporting currency of Savers Value Village, Inc., using rates of exchange in effect at the end of the reporting period. The net gain or loss resulting from translation is shown as a foreign currency translation adjustment and is included in other comprehensive (loss) income in the Consolidated Statements of Operations and Comprehe nsive Income and in accumulated other comprehensive income on the Consolidated Balance Sheets. Income and expense accounts of the Company’s foreign entities are translated into U.S. dollars using average rates of exchange during the reporting period. (Loss) gain on foreign currency, net in the Consolidated Statements of Operations and Comprehensive Income comprises realized gains and losses upon settlement of foreign currency transactions, remeasurement gains and losses on unsettled foreign currency transactions, and realized and unrealized gains and losses on cross currency swaps and forward contracts (see Note 10. Derivative Financial Instruments). Realized and unrealized gains and (losses) on foreign currency transactions totaled $27.3 million in fiscal year 2024, $9.8 million in fiscal year 2023 and $(30.0) million in fiscal year 2022. Foreign currency gains and losses relating to intercompany loans issued by or to foreign subsidiaries are not eliminated during consolidation and are included in (loss) gain on foreign currency, net in the Consolidated Statements of Operations and Comprehensive Income. Revenue recognition Retail sales. Revenue is recorded for store sales upon the purchase of merchandise by customers. Sales taxes collected from customers are not considered revenue and are included in accounts payable and accrued liabilities on the Consolidated Balance Sheets until remitted to the taxing authorities. Revenue is recorded net of coupons, promotional discounts and sales discounts under reward programs. Revenue from gift cards is recognized upon redemption, and estimated breakage is recognized based on redemption data. The Company accounts for outstanding gift card balances as a liability, net of estimated breakage. Gift card liabilities are included in accounts payable and accrued liabilities on the Consolidated Balance Sheets. The Company does not record a sales return reserve as no right of return exists for customers. Wholesale sales. Sales of products are recognized at the point of delivery with no right of return and exclude shipping and handling costs, which are paid by the customer. The Company’s revenue arrangements do not contain a significant financing component. The following table disaggregates our revenue by retail and wholesale for the periods presented: Fiscal Year (in thousands) 2024 2023 2022 Retail sales $ 1,463,404 $ 1,427,024 $ 1,365,109 Wholesale sales 74,213 73,225 72,120 Total net sales $ 1,537,617 $ 1,500,249 $ 1,437,229 Cash and cash equivalents Cash and cash equivalents consist of cash, demand deposits with banks, proceeds due from credit and debit card transactions and money market funds with maturity dates of three months or less from the date of purchase. The carrying amounts reported for cash and cash equivalents are considered to approximate fair value based upon their short maturities. The Company’s cash deposits are maintained in accounts primarily with two m ajor financial institutions in the U.S. and Canada. Substantially all cash on deposit exceeds the federally insured limits for such deposits. Money market funds are invested in a single fund that invests in U.S. Government and U.S. Treasury securities. Trade accounts receivable Trade accounts receivable are recorded at the invoiced amount, net of any allowances. Both trade accounts receivable and the allowance for credit losses relate to wholesale sales. Inventories Inventories consist almost entirely of used clothing and other household goods purchased from nonprofit partners. Inventory is valued at the lower of average purchase cost or net realizable value. The allowance for excess inventory as of December 28, 2024 and December 30, 2023 was immaterial. Property and equipment Property and equipment are stated at historical cost net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets ranging from 3 to 15 years for furniture, fixtures and equipment. Leasehold improvements are amortized using the straight-line method over the shorter of 7 years or t he remaining lease term. Long-lived assets The carrying values of long-lived assets, consisting of property and equipment, right-of-use lease assets and long-lived intangible assets, are reviewed for impairment when store performance expectations, events or changes in circumstances - such as a decision to relocate or close a store, office or distribution center - indicate that the carrying amounts may not be recoverable. When testing for impairment, we group assets and liabilities at the lowest level for which cash flows are separately identifiable - which is primarily at the individual store level. We then assess the risk of impairment by comparing an estimate of the undiscounted cash flows expected to be generated by the asset group against the carrying value of the asset group (the “recoverability test”). Impairment is indicated when the carrying value of the asset group exceeds the estimated future undiscounted cash flows generated by those assets. When impairment is indicated and the fair value of the asset group is determined to be less than the carrying value of the asset group, the Company records an impairment charge equal to the amount by which the carrying value of the asset group exceeds the asset group’s fair value. Performing the recoverability test requires management to make judgments relating to future cash flows, growth rates and economic and market conditions. Depending on the asset class, estimated fair value may be determined either by the use of a discounted cash flow model and/or by reference to estimated selling prices of assets in similar condition. In fiscal year 2024, the Company recorded an impairment charge on its long-lived assets nsive Income. In fiscal years 2023 and 2022, no triggering events were identified and no impairment charges were recorded on the Company’s long-lived assets. Goodwill Goodwill is reviewed for impairment annually in the Company’s fourth quarter and whenever circumstances indicate goodwill might be impaired. The Company has the option of performing a qualitative assessment that involves evaluating relevant events and circumstances to determine whether it is more likely than not (i.e. a likelihood of greater than 50%) that the fair value of a reporting unit is less than its carrying amount. If not, no further impairment testing is performed. If the assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company performs a quantitative assessment by comparing the carrying value of the reporting unit to the estimated fair value of the reporting unit, both as of the testing date. If the carrying value of the reporting unit exceeds the estimated fair value, the Company will recognize an impairment charge equal to the amount by which the carrying value exceeds the reporting unit’s estimated fair value up to but not to exceed the total amount of goodwill allocated to the reporting unit. While the Company generally performs a qualitative assessment, we may choose periodically to forgo the qualitative assessment and proceed directly to a quantitative analysis. Factors considered in determining whether to forgo the qualitative assessment and proceed directly to the quantitative analysis include the significance of the excess of a reporting unit’s estimated fair value over its carrying value at the last quantitative assessment date, the amount of time between quantitative assessments, the desirability of establishing an updated baseline quantitative analysis, and other performance and market indicators. The Company’s reporting units are consistent with its operating segments, with goodwill balances allocated entirely to the U.S. Retail and Canada Retail reporting units. No goodwill impairment was recorded during fiscal years 2024, 2023 and 2022. Intangible assets Intangible assets represent the Company’s trade names, trademarks and charity licensing agreements. The Company’s trade names and trademarks, which have indefinite lives, are not amortized, but rather, reviewed for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset may be impaired. Charity licensing agreements are amortized using the straight-line method over their estimated useful life, which is usually 15 years . No impairment of intangible assets was recorded during fiscal years 2024, 2023 and 2022. Insurance reserves The Company is self-insured for general liability, medical and workers’ compensation and regularly reviews the related insurance reserves and adjusts the balances as necessary. Self-insurance claims filed and claims incurred-but-not-reported are accrued based on management’s estimates of cost by considering historical claims experience, demographic factors, severity factors and other actuarial assumptions. Additionally, the Company reviews specific large insurance claims to determine whether there is a need for any additional accruals. Changes in these assumptions could materially impact the required reserve balances and it is possible that the Company’s actual loss experience could differ materially from recorded insurance reserves. Advertising costs Advertising production costs and media placement costs are expensed the first time the advertisement takes place. Total advertising costs during fiscal years 2024, 2023 and 2022 were $10.7 million, $9.0 million and $11.9 million, respectively, and are included in selling, general and administrative in the Consolidated Statements of Operations and Comprehensive Income . Income taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized based on the estimated future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. A valuation allowance is established when necessary to reduce deferred income tax assets to the amount more likely than not expected to be realized. Income tax expense represents the current expense incurred for the period plus or minus the change during the period in net deferred tax assets and liabilities. Section 382 of the Internal Revenue Code and similar state regulations, contain provisions that may limit the net operating loss (“NOL”) carryforwards and other tax attributes available to be used to offset income and tax liabilities in any given year upon the occurrence of certain events, including changes in ownership of more than 50%. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount of the benefit that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense, net and penalti es in income tax expense (benefit) in the Consolidated Statements of Operations and Comprehensive Income. Stock-based compensation The Company’s stock-based incentive plan allows for the issuance of various types of stock-based awards, including time-based options, performance-based options and restricted stock units (“RSUs”). Options are generally granted with an exercise price equal to the fair value of our common stock at the date of grant. Prior to July 3, 2023, the date we completed our IPO, the fair value of our common stock was established by the Board at the date of grant. Upon completion of our IPO, the fair value of our common stock is determined based on the closing price of our common stock on the New York Stock Exchange on the date of grant. We estimate the fair value of time-based options using the Black-Scholes-Merton option pricing model. We also used the Black-Scholes-Merton option pricing model to determine the grant-date fair value of performance-based options that were tied to the Company’s IPO, and a Monte Carlo simulation under the option pricing framework to determine the grant-date fair value of performance-based options subject to market-specific conditions. We recognize expense for time-based options on a straight-line basis over the requisite service period of the awards. We recognize expense for performance-based options subject to Company-specific conditions when it is probable that performance conditions will be achieved, and recognize the expense on a graded vesting basis over the expected vesting period. For performance-based options subject to market-specific conditions, expense is recognized on a graded vesting basis over the expected vesting period and is recognized regardless of whether the market-specific conditions are achieved. The fair value of RSUs is estimated based on the fair value of our common stock on the date of grant. RSUs are recognized in compensation expense over the service period, which is generally the vesting period . For a more detailed discussion of stock-based compensation, see Note 13. Stock-Based Compensation. Share repurchases Repurchased shares are retired and the excess of cost over par value is recorded as an increase in accumulated deficit. Derivative instruments In the normal course of business, the Company may use derivative financial instruments, including interest rate swaps, cross currency swaps and foreign exchange forwards, to hedge against fluctuations in interest rates or foreign exchange rates thereby reducing our exposure to variability in cash flows on our floating-rate debt or from foreign operations. Derivative instruments are measured at fair value and classified as assets or liabilities, current or non-current, depending on the settlement dates of the individual contracts. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. Derivative instruments that are not designated as hedges are intended to economically hedge a portion of our foreign exchange risk. All gains and losses on these economic hedges are recorded immediately in (loss) gain on foreign currency, net in the Consolidated Statements of Operations and Comprehensive Income. For derivative instruments designated as cash flow hedges, unrealized gains and losses from changes in fair value are initially reported as a component of accumulated other comprehensive income on the Consolidated Balance Sheets and are reclassified to interest expense, net in the Consolidated Statements of Operations and Comprehensive Income as interest payments are made on the Company’s variable-rate debt. For derivative instruments designated as cash flow hedges, realized gains and losses from monthly settlement are a component of interest expense, net in the Consolidated Statements of Operations and Comprehensive Income. Realized gains and losses on interest rate swaps with an other-than-insignificant financing element at inception are reported within cash flows from financing activities on the Consolidated Statements of Cash Flows. Realized gains and losses on interest rate swaps without an other-than-insignificant financing element at inception are reported within cash flows from operating activities on the Consolidated Statements of Cash Flows. Realized gains and losses on cross currency swaps and forward contracts are reported within cash flows from investing activities on the Consolidated Statements of Cash Flows. The Company does not use derivative instruments for trading or speculative purposes and does not use any leveraged derivative financial instruments. Leases The Company leases various real estate, including retail stores, offsite processing facilities, wholesale warehouses and office space, as well as vehicles. The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (“ROU”) lease assets, lease liabilities – current and lease liabilities – non-current in our Consolidated Balance Sheets. As of December 28, 2024, finance leases of $8.5 million, $2.7 million and $5.7 million were included in property and equipment, net accounts payable and accrued liabilities other liabilities Our lease assets and liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments over the lease term. As an implicit rate is not provided for most of our leases, we use an incremental borrowing rate which represents the rate used for a secured borrowing of a similar term as the lease. Our real estate leases typically require payment of real estate taxes, common area maintenance and insurance. These components comprise the majority of our variable lease costs and are excluded from the present value of our lease obligations. The Company’s leases have remaining lease terms of greater than 1 year to 21 years. The lease term includes the initial contractual term as well as any options to extend the lease when it is reasonably certain that the Company will exercise that option. The option periods are generally not included in the lease term used to measure our lease liabilities and lease assets upon commencement as exercise of the options is not reasonably certain. We remeasure the lease liability and lease asset when we are reasonably certain to exercise a renewal option. The Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments in this update require enhanced disclosures about significant expenses on an annual and interim basis for all public entities. The amendments in this update were effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this new guidance impacted the Company’s disclosures only and had no impact to its results of operations, financial position or cash flows. Recently issued accounting pronouncements not yet adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in this update require that public entities on an annual basis disclose specific categories in the rate reconciliation table, provide additional information for reconciling items that meet a quantitative threshold and provide additional information about income taxes paid. The amendments in this Update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. This guidance is expected to impact the Company’s disclosures only with no impact to its results of operations, financial position or cash flows. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . The amendments in this update require public entities to disclose, on an annual and interim basis, specific expenses included in each relevant expense caption on the income statement. T he amendments in this update are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is perm itted. This guidance is expected to impact the Company’s disclosures only with no impact to its results of operations, financial position or cash flows.

2 Peaches Acquisition

2 Peaches Acquisition	12 Months Ended
	Dec. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
2 Peaches Acquisition	Peaches Acquisition On May 6, 2024, the Company acquired all of the equity of 2 Peaches Group, LLC (“2 Peaches”) for $5.4 million, which is comprised of cash consideration of $3.5 million, including a holdback of $0.5 million, and acquisition-related contingent consideration with an initial fair value of $1.9 million (the “2 Peaches Acquisition”). 2 Peaches is a thrift store chain with seven locations in the Atlanta, Georgia, metropolitan area. The acquired stores are the Company’s first locations in the state of Georgia and will serve as a base for the Company’s entrance and expansion into the southeast region of the U.S. The 2 Peaches Acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Topic 805, Business Combinations, and the purchase price was allocated to the assets acquired and the liabilities assumed based on their fair value at the acquisition date. The excess of the purchase price over the fair value of the net assets acquired was recorded as goodwill, which is deductible for income tax purposes. Under the acquisition method, the consolidated financial statements of the Company include the operations of 2 Peaches from the acquisition date. Goodwill arising from the acquisition amounted to less than $0.1 million. Goodwill was allocated to the U.S. Retail reporting unit. The fair value of assets acquired was $12.5 million, which primarily comprised $8.5 million for right-of-use assets, $2.9 million for a charity licensing agreement, $0.5 million for inventory, $0.4 million for property and equipment, and $0.1 million of cash. The charity licensing agreement was fully amortized during fiscal year 2024. The fair value of liabilities assumed was $7.1 million. The acquisition-related contingent consideration arrangement with an initial fair value of $1.9 million requires us to make a future cash payment of up to $2.7 million upon achievement of specific milestones; the associated liability is classified in other liabilities in our Consolidated Balance Sheets. See Note 8. Fair Value Measurements, for information related to the fair value of the contingent consideration. We have not presented pro forma results of operations including 2 Peaches since their results of operations are not material to our consolidated financial results.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 28, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net, consisted of the following: (in thousands) December 28, 2024 December 30, 2023 Furniture, fixtures and equipment $ 291,772 $ 257,934 Leasehold improvements 133,947 116,158 Finance leases 13,281 5,285 Construction in progress 74,922 35,107 Total property and equipment 513,922 414,484 Less: accumulated depreciation 243,799 185,079 Total property and equipment, net $ 270,123 $ 229,405 Depreciation expense for fiscal years 2024, 2023 and 2022 was $61.3 million, $56.0 million and $49.6 million, respectively.

Goodwill

Goodwill	12 Months Ended
	Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Changes in the carrying value of goodwill by reportable segments were as follows: (in thousands) U.S. Retail Canada Retail Total Balance at December 31, 2022 $ 414,946 $ 266,501 $ 681,447 Foreign currency translation effect — 5,921 5,921 Balance at December 30, 2023 414,946 272,422 687,368 Foreign currency translation effect — (21,951) (21,951) Business acquisition 48 — 48 Balance at December 28, 2024 $ 414,994 $ 250,471 $ 665,465

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The components of intangible assets were as follows: (in thousands) December 28, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks $ 118,650 $ — $ 118,650 Charity licensing agreements 63,625 (22,945) 40,680 Total $ 182,275 $ (22,945) $ 159,330 (in thousands) December 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks $ 118,650 $ — $ 118,650 Charity licensing agreements 68,189 (20,158) 48,031 Total $ 186,839 $ (20,158) $ 166,681 The amortization expense associated with intangible assets was $8.3 million, $5.2 million and $6.1 million for fiscal years 2024, 2023 and 2022, respectively. The estimated aggregate amortization expense of intangible assets for each of the five years commencing after December 28, 2024 is $4.3 million.

Indebtedness

Indebtedness	12 Months Ended
	Dec. 28, 2024
Debt Disclosure [Abstract]
Indebtedness	Indebtedness Long-term debt consisted of the following: (in thousands) December 28, 2024 December 30, 2023 Senior Secured Notes $ 445,500 $ 495,000 Term Loan Facility 315,756 321,756 Total face value of debt 761,256 816,756 Less: current portion of long-term debt 6,000 4,500 Less: unamortized debt issuance costs and debt discount 20,123 27,663 Long-term debt, net $ 735,133 $ 784,593 In 2023, the Company used the net proceeds from its IPO, the net proceeds from issuing $550.0 million aggregate principal amount of Senior Secured Notes (the “Notes”) and cash on hand, in whole or in part, to repay $485.8 million in outstanding borrowings on its Term Loan Facility and $55.0 million aggregate principal amount of its Notes, resulting in a loss on extinguishment of debt of $16.6 million. Proceeds from the February 2023 Notes issuance were also used to pay a $262.2 million dividend and a $23.6 million one-time bonus to certain employees and directors participating in our management equity incentive plan who were unable to participate in the dividend. The bonus was recorded in salaries, wages and benefits in the Consolidated Statements of Operations and Comprehensive Income. On January 30, 2024, the Company entered into the third amendment to its Senior Secured Credit Facilities resulting in a loss on extinguishment of debt of $0.7 million. On March 4, 2024, the Company redeemed $49.5 million aggregate principal amount of the Notes, equal to 10% of the outstanding balance at December 30, 2023. In addition to paying accrued interest, the Company paid a premium of 3%, or $1.5 million, on the partial redemption. This transaction resulted in a loss on extinguishment of debt of $3.4 million. On February 6, 2025, the Company redeemed $44.5 million aggregate principal amount of the Notes, equal to 10% of the outstanding balance at December 28, 2024 . In addition to paying accrued interest, the Company paid a premium of 3%, or $1.3 million, on the partial redemption. This transaction resulted in a loss on extinguishment of debt of $2.7 million. Senior Secured Notes The Notes bear interest at a fixed rate of 9.75% with interest due every February 15 and August 15. As of December 28, 2024 , the Company had a $16.1 million balance for accrued interest on the Notes, which is classified in accounts payable & accrued liabilities in the Consolidated Balance Sheets. The Notes are due in full at maturity in April 2028, coterminous with the Term Loan Facility. The Company’s principal subsidiaries in the U.S. are issuers of the Notes. The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by most of the Company’s U.S. and Canadian subsidiaries (other than the issuers). The Notes are secured by a first priority lien on substantially all assets of the issuers and guarantors, subject to certain exceptions, on an equal and ratable basis with indebtedness under the Term Loan Facility. The Notes rank pari passu with the Term Loan Facility in right of payment and are subordinated to our existing super-priority Revolving Credit Facility in right of payment. We may redeem the Notes in whole or in part at the redemption prices set forth below, plus accrued and unpaid interest: For the Period Redemption Price February 15, 2025 through February 14, 2026 104.875 % February 15, 2026 through February 14, 2027 102.438 % On or after February 15, 2027 100.000 % If a change in control occurs, we will be required to repurchase the Notes at a purchase price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest. The indenture, pursuant to which the Notes were issued, contains customary affirmative and negative covenants, which are similar in scope to those in the Senior Secured Credit Facilities (see below), although there are no financial maintenance covenants in the indenture governing the Notes . Certain covenants may be suspended in the event the Notes are assigned an investment grade rating from two of three rating agencies. Senior Secured Credit Facilities The Senior Secured Credit Facilities consist of a term loan facility (“Term Loan Facility”) and a revolving credit facility (“Revolving Credit Facility”). The Company’s principal subsidiaries in the U.S. and Canada are borrowers under the Senior Secured Credit Facilities and most of the Company’s U.S. and Canadian subsidiaries are guarantors. The Senior Secured Credit Facilities are secured by a first priority lien on substantially all assets of the borrowers and guarantors, subject to certain exceptions. The Revolving Credit Facility is senior to the Term Loan Facility in right of payment. The Senior Secured Credit Facilities have customary affirmative and negative covenants, including restrictions on our ability to incur additional indebtedness, incur liens, make investments, make restricted payments (including restrictions on the payment of dividends), make optional prepayments on junior financings, engage in transactions with affiliates and make asset sales, in each case subject to customary exceptions and baskets. The Senior Secured Credit Facilities also have a customary uncommitted incremental facility of (i) the greater of $136.0 million or EBITDA for the prior four fiscal quarters plus (ii) additional amounts based on the Company’s net leverage ratio or interest coverage ratio plus (iii) certain specific additional amounts. Term Loan Facility Borrowings under the Term Loan Facility are due in full at maturity in April 2028. The Term Loan Facility bears interest at a variable rate equal to a reference rate plus a margin ranging from 2.50% to 3.75% based on loan type and our first lien net leverage ratio. The Company is required to prepay the Term Loan Facility with a percentage of the Company’s annual excess cash flow if the first lien net leverage ratio is greater than or equal to 3.50 to 1.00. The Company is also required to prepay the Term Loan Facility with a percentage of the net cash proceeds of certain asset sales, subject to customary reinvestment provisions, when the first lien net leverage ratio is greater than or equal to 3.50 to 1.00. The Company is able to prepay amounts outstanding under the Term Loan Facility without a prepayment premium. Revolving Credit Facility The Revolving Credit Facility matures in April 2027. The maximum available amount under the Revolving Credit Facility is $125.0 million, with $60.0 million available for letters of credit and a swingline sublimit of $10.0 million. As of December 28, 2024 , there were no advances on the Revolving Credit Facility, there were $1.2 million of letters of credit outstanding and $123.8 million was available to borrow. The interest rate on revolver draws is variable at a rate equal to the reference rate plus a margin of 2.25% or 3.25% based on loan type. A 0.5% commitment fee is payable quarterly on the unused portion of the Revolving Credit Facility. The Revolving Credit Facility is subject to a financial maintenance covenant that requires us to ensure the first lien net leverage ratio, which is tested quarterly, does not exceed 7.75 to 1.00. The financial maintenance covenant is only applicable if the aggregate amount of revolving loans, swingline loans and letters of credit outstanding under the Revolving Credit Facility (excluding up to $20 million of undrawn letters of credit and certain other amounts) exceeds 35% of the committed amount. The Revolving Credit Facility provides for customary equity cure rights.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 28, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company utilizes fair value measurements for its financial assets and financial liabilities and fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Fair value is based upon a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: • Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 inputs are inputs other than unadjusted quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 inputs are unobservable inputs for the asset or liability. The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement. Recurring fair value measurements The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at December 28, 2024: (in thousands) Fair Value Hierarchy Total Level 1 Level 2 Level 3 Assets: Money market funds $ 57,000 $ — $ — $ 57,000 Forward contracts — 4,574 — 4,574 Total $ 57,000 $ 4,574 $ — $ 61,574 Liabilities: Acquisition-related contingent consideration $ — $ — $ 2,000 $ 2,000 The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at December 30, 2023: (in thousands) Fair Value Hierarchy Total Level 1 Level 2 Level 3 Assets: Money market funds $ 90,000 $ — $ — $ 90,000 Interest rate swaps — 10,379 — 10,379 Cross currency swap — 20,831 — 20,831 Total $ 90,000 $ 31,210 $ — $ 121,210 Liabilities: Cross currency swaps $ — $ 466 $ — $ 466 Forward contracts — 384 — 384 Total $ — $ 850 $ — $ 850 There were no transfers of financial assets or liabilities between Level 1, Level 2 or Level 3 for fiscal year 2024 or fiscal year 2023 . Money market funds, consisting of short-term deposits with an original maturity of three months or less, are valued based on quoted market prices of identical assets and are classified within Level 1. Interest rate swaps, cross currency swaps and forward contracts are fair valued using independent valuation services, and the valuations are based on observable market data. As such, the interest rate swaps, cross currency swaps and forward contracts are classified within Level 2. The Company reviews the independent valuation and obtains an understanding of the methods used in pricing the instruments. The fair value of the acquisition-related contingent consideration liability is measured using the probability-weighted present value of the potential payment. The probability-weighted present value of the potential payment is based on significant unobservable inputs, including management estimates and assumptions. Accordingly, the fair value of the acquisition-related contingent consideration is classified as Level 3 within the fair value hierarchy. The following table provides quantitative information regarding Level 3 inputs used in the fair value measurement of the acquisition-related contingent consideration liability as of December 28, 2024 : Acquisition-Related Contingent Consideration Liability Valuation Technique Unobservable Input Range Potential payment Probability-weighted present value Probability of payment 0% - 100% Discount rate 9.4% Projected years of payments 2025 - 2027 The following table provides a reconciliation of the acquisition-related contingent consideration liability measured at fair value using Level 3 significant unobservable inputs: (in thousands) Balance at May 6, 2024 (1) $ 1,898 Change in fair value recorded in selling, general and administrative 102 Balance at December 28, 2024 $ 2,000 (1) 2 Peaches was acquired on May 6, 2024. Non-recurring fair value measurements The Company’s non-financial assets, such as goodwill, intangible assets, property and equipment, and ROU lease assets, are recorded at cost. Fair value adjustments are made to these non-financial assets in the period an impairment charge is recognized. In fiscal year 2024, the Company recognized impairment charges of $2.5 million on ROU lease assets and $1.8 million on property and equipment which are recorded in selling, general and administrative in the Consolidated Statements of Operations and Comprehensive Income. Fair value of these assets was determined using discounted cash flow models based on significant unobservable inputs, including projected store-level cash flows, discount rates and market rental data. Accordingly, the fair value of these assets are classified as Level 3 within the fair value hierarchy. Other fair value disclosures The fair value of the Company’s Senior Secured Notes, based on Level 1 inputs, was $467.6 million and $525.5 million at December 28, 2024 and December 30, 2023, respectively. The fair value of borrowings under the Company’s Senior Secured Credit Facilities approximate their carrying value as the current rates approximate rates on similar debt and were based on rate notices provided by the Administrative Agent (Level 2 inputs) at December 28, 2024 and December 30, 2023.

Leases

Leases	12 Months Ended
	Dec. 28, 2024
Leases [Abstract]
Leases	Leases The components of total lease costs, net, consisted of the following: Fiscal Year (in thousands) 2024 2023 2022 Operating lease costs $ 132,173 $ 119,908 $ 114,788 Short-term and variable lease costs 53,191 41,559 48,812 Sublease income (2,452) (2,703) (2,510) Finance lease costs: Amortization of lease assets 1,725 1,152 — Interest on lease obligations 587 247 — Total lease costs, net $ 185,224 $ 160,163 $ 161,090 The maturities of our lease obligations at December 28, 2024 were as follows: (in thousands) Operating Leases Finance Leases Total 2025 $ 124,729 $ 2,758 $ 127,487 2026 120,471 2,454 122,925 2027 105,375 1,981 107,356 2028 83,979 1,315 85,294 2029 77,293 1,241 78,534 Thereafter 282,647 1,108 283,755 Total undiscounted payments 794,494 10,857 805,351 Less: Interest 232,342 2,384 234,726 Present value of lease obligations $ 562,152 $ 8,473 $ 570,625 Supplemental cash flow information related to leases is as follows: Fiscal Year (in thousands) 2024 2023 2022 Cash paid for amounts included in the measurement of lease obligations Operating cash flows for operating leases $ 123,945 $ 112,139 $ 105,359 Operating cash flows for finance leases 587 247 — Financing cash flows for finance leases 1,615 1,526 — Noncash investing activities Assets obtained in exchange for new operating lease obligations $ 160,348 $ 145,206 $ 70,425 Assets obtained in exchange for new finance lease obligations 4,738 3,517 — Supplemental balance sheet information related to leases is as follows: December 28, 2024 December 30, 2023 Operating Leases Finance Leases Operating Leases Finance Leases Weighted average remaining lease term (years) 7.68 4.70 6.94 1.50 Weighted average discount rate 8.62% 8.65% 8.53% 5.16%

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments As a result of its operating and financing activities, the Company is exposed to market risks from changes in foreign currency exchange rates and interest rates. These market risks may adversely affect the Company’s operating results, cash flows and financial position. The Company seeks to manage risk from changes in foreign currency exchange rates through the use of forward contracts or cross currency swaps or both, and from time to time, may use interest rate swaps to manage the risk of changes in interest rates. The Company’s forward contracts are not collateralized and are entered into with large, reputable financial institutions that are monitored for counterparty risk. Refer to Note 8 for additional information on the fair value of our derivative financial instruments. Foreign currency contracts The Company operates in foreign countries, which exposes it to market risk associated with foreign currency exchange rate fluctuations. The Company uses forward contracts to manage its exposure to fluctuations in the U.S. dollar (“USD”) – Canadian dollar (“CAD”) and may also use cross currency swaps for the same reason. Forward contracts lock in the exchange rate for a portion of the estimated cash flows of the Company’s Canadian operations. As of December 28, 2024 and December 30, 2023, the Company’s forward contracts had USD equivalent gross notional amounts of $102.5 million and $33.2 million, respectively. In April 2024, the Company terminated its cross currency swaps, resulting in net proceeds of $28.1 million. These cross currency swaps were not designated in hedging relationships. Cross currency swaps with notional amounts of $275.0 million were outstanding at December 30, 2023 . Interest rate swap contracts The Company’s market risk is affected by changes in interest rates. The Company’s Senior Secured Credit Facilities bear interest based on market rates plus an applicable margin. Because the interest rate on the Company’s floating-rate debt is tied to market rates, the Company may from time to time manage its exposure to interest rate movements by effectively converting a portion of its floating-rate debt to fixed-rate debt using interest rate swaps. Interest rate swaps, as used by the Company, involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreement without exchange of the underlying notional amount. The Company previously entered into two interest rate swaps that were designated as cash flow hedges. In April 2024, the Company terminated its interest rate swaps, resulting in net proceeds of $10.3 million. All amounts deferred into accumulated other comprehensive income prior to termination will be amortized to interest expense through May 2025, being the original maturity date of the interest rate swaps. Interest rate swaps with notional amounts of $275.0 million were outstanding at December 30, 2023 . The fair values of cross currency swap contracts, forward contracts and interest rate swap contracts were as follows: (in thousands) Balance Sheet Location December 28, 2024 December 30, 2023 Derivatives not designated as hedging instruments: Forward contracts Derivative asset – current $ 4,574 $ — Cross currency swaps Derivative asset – non-current — 20,831 Total derivatives in an asset position $ 4,574 $ 20,831 Forward contracts Accounts payable and accrued liabilities $ — $ 384 Cross currency swaps Accounts payable and accrued liabilities — 466 Total derivatives in a liability position $ — $ 850 Derivatives designated as hedging instruments: Interest rate swaps Derivative asset – current $ — $ 7,691 Interest rate swaps Derivative asset – non-current — 2,688 Total derivatives in an asset position $ — $ 10,379 Total deferred gain Accumulated other comprehensive income $ 4,432 $ 13,045 The impact of derivative financial instruments on the Consolidated Statements of Operations and Comprehensive Income was as follows: (in thousands) Fiscal Year 2024 2023 2022 Gain (loss) on forward contracts recognized in (loss) gain on foreign currency, net $ 5,401 $ (373) $ 802 Gain (loss) on cross currency swaps recognized in (loss) gain on foreign currency, net $ 7,647 $ (2,770) $ 8,416 Gain on interest rate swaps recognized in interest expense, net $ 10,977 $ 11,110 $ 2,169 The table below presents the effect of cash flow hedge accounting on other comprehensive (loss) income, net of tax: (in thousands) Fiscal Year 2024 2023 2022 Gain recognized in other comprehensive (loss) income $ 2,364 $ 3,141 $ 20,678 Gain reclassified from accumulated other comprehensive income into net income $ 10,977 $ 11,110 $ 2,205 Amounts reclassified from accumulated other comprehensive income into net income are recognized in interest expense, net in the Consolidated Statements of Operations and Comprehensive Income. Within the next 12 months, the Company estimates that an additional $4.4 million of gains recognized within accumulated other comprehensive income will be reclassified as a decrease in interest expense, net.

Segments

Segments	12 Months Ended
	Dec. 28, 2024
Segment Reporting [Abstract]
Segments	Segments The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), assesses segment performance and makes resource allocation decisions based on the geographies in which it conducts its retail operations, and separately for its wholesale operations, each of which represents an operating segment. For disclosure purposes, U.S. Retail and Canada Retail were determined to be reportable segments. Neither the Company’s retail operations in Australia nor its wholesale operations meet the quantitative thresholds to be reported separately and since they do not share similar economic characteristics, they have been combined and disclosed within Other. The Company’s CODM assesses segment performance and makes resource allocation decisions primarily based on weekly, monthly and quarterly reports that focus predominantly on segment net sales, the drivers of segment net sales, and key non-financial operating metrics by segment. These weekly, monthly and quarterly reports compare actual segment performance against performance in the comparative period in the prior year, against budget, against forecast, or as a trend over time, or any combination of the foregoing. Collectively, these factors provide the CODM with insight into segment profitability. The Company’s CODM is provided with segment profit as well as significant segment expenses on a recurring basis. General corporate expenses include unallocated corporate overhead recorded in salaries, wages and benefits, and selling, general and administrative in the Consolidated Statements of Operations and Comprehensive Income. Segment profit may not be comparable to similarly titled measures used by other entities. These measures should not be considered as alternatives to our GAAP measures of operating income, net income or cash flows from operating activities as an indicator of the Company’s performance or as a measure of its liquidity. Our segment results are presented in the tables below. In each table, “Other profit” is attributable to the Australia Retail and Wholesale operating segments which have been combined. Fiscal Year 2024 (in thousands) U.S. Retail Canada Retail Total Segment sales $ 832,581 $ 586,971 $ 1,419,552 Segment expenses: Cost of merchandise sold, exclusive of depreciation and amortization 375,417 239,138 614,555 Salaries, wages and benefits 117,034 70,534 187,568 Selling, general and administrative 152,897 112,163 265,060 Total segment expenses 645,348 421,835 1,067,183 Segment profit $ 187,233 $ 165,136 352,369 Reconciliation of profit Other profit 36,059 General corporate expenses 188,709 Depreciation and amortization 69,530 Operating income 130,189 Interest expense, net (62,444) Loss on foreign currency, net (14,294) Other income, net 71 Loss on extinguishment of debt (4,088) Income before income taxes $ 49,434 Fiscal Year 2023 (in thousands) U.S. Retail Canada Retail Total Segment sales $ 780,126 $ 605,630 $ 1,385,756 Segment expenses: Cost of merchandise sold, exclusive of depreciation and amortization 336,164 233,054 569,218 Salaries, wages and benefits 107,670 72,638 180,308 Selling, general and administrative 138,146 110,039 248,185 Total segment expenses 581,980 415,731 997,711 Segment profit $ 198,146 $ 189,899 388,045 Reconciliation of profit Other profit 39,572 General corporate expenses 224,616 Depreciation and amortization 61,144 Operating income 141,857 Interest expense, net (88,500) Gain on foreign currency, net 6,660 Other income, net 3,688 Loss on extinguishment of debt (16,626) Income before income taxes $ 47,079 Fiscal Year 2022 (in thousands) U.S. Retail Canada Retail Total Segment sales $ 747,397 $ 582,944 $ 1,330,341 Segment expenses: Cost of merchandise sold, exclusive of depreciation and amortization 317,537 219,802 537,339 Salaries, wages and benefits 109,272 79,057 188,329 Selling, general and administrative 138,924 110,168 249,092 Total segment expenses 565,733 409,027 974,760 Total segment profit $ 181,664 $ 173,917 355,581 Reconciliation of profit Other profit 33,395 General corporate expenses 126,997 Depreciation and amortization 55,753 Operating income 206,226 Interest expense, net (64,744) Loss on foreign currency, net (20,737) Other income, net 4,576 Loss on extinguishment of debt (1,023) Income before income taxes $ 124,298 We do not separately present assets for our reportable segments because the Company’s CODM is not provided these amounts. The Company’s long-lived assets are primarily located in the U.S. and Canada, with a portion located in Australia. Long-lived assets consist of property and equipment, ROU lease assets and charity licensing agreements. The following table disaggregates our long-lived assets by location: (in thousands) December 28, 2024 December 30, 2023 U.S. $ 527,126 $ 453,446 Canada 297,479 302,322 Australia 38,960 21,043 Total long-lived assets $ 863,565 $ 776,811 The following table reconciles total reportable segment net sales to consolidated net sales. “Other sales” is attributable to the Australia Retail and Wholesale operating segments which have been combined. Fiscal Year (in thousands) 2024 2023 2022 Total segment sales $ 1,419,552 $ 1,385,756 $ 1,330,341 Other sales 118,065 114,493 106,888 Total net sales $ 1,537,617 $ 1,500,249 $ 1,437,229 The following table disaggregates the Company’s net sales by geography, based on the location of the Company’s customers: Fiscal Year (in thousands) 2024 2023 2022 U.S. $ 850,887 $ 799,619 $ 771,884 Canada 602,257 622,690 598,451 Australia 43,852 41,268 34,768 Rest of world 40,621 36,672 32,126 Total net sales $ 1,537,617 $ 1,500,249 $ 1,437,229

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 28, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income p er share is computed by dividing net income by the weighted-average number of share s outstanding during the period. Diluted net income per share gives effect to all potentially dilutive common equivalent shares outstanding for the period under the treasury stock method. Basic and diluted net income per share were as follows: Fiscal Year (in thousands, except per share data) 2024 2023 2022 Numerator Net income $ 29,030 $ 53,115 $ 84,720 Denominator Basic weighted average shares outstanding 160,911 151,027 141,561 Dilutive effect of employee stock options and awards 5,795 5,129 4,488 Diluted weighted average shares outstanding (1) 166,706 156,156 146,049 Net income per share Basic $ 0.18 $ 0.35 $ 0.60 Diluted $ 0.17 $ 0.34 $ 0.58 (1) For fiscal years 2024, 2023 and

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2019 Management Incentive Plan On March 28, 2019, the Company adopted the 2019 Management Incentive Plan (the “2019 Plan”) which allows for the issuance of stock options to directors, officers, key employees and other key individuals. Stock options awarded under the 2019 Plan contain both service and performance conditions. Awards issued under the 2019 Plan have a 10-year contractual term. In connection with the adoption of the Omnibus Incentive Compensation Plan (as defined below), the Company ceased issuing awards under the 2019 Plan. As a result, no shares remain available for issuance under the 2019 Plan; however, the 2019 Plan continues to govern awards that are outstanding under it. As of December 28, 2024, 12.7 million shares remain outstanding under the 2019 Plan. Omnibus Incentive Plan In connection with the IPO, the Company’s Board of Directors approved the Omnibus Incentive Compensation Plan (the “Omnibus Incentive Plan”), which became effective on June 28, 2023, the date the SEC declared our IPO registration statement on Form S-1 effective. The Omnibus Incentive Plan allows for issuance of up to 15.0 million new shares of common stock. In addition, should any awards under the 2019 Plan expire, terminate or be canceled, the shares of common stock underlying those awards will become available for issuance under the Omnibus Incentive Plan. Awards under the Omnibus Incentive Plan may be in the form of incentive stock options, nonqualified stock options, stock appreciation rights, stock awards, stock units, other stock-based awards and cash awards. Awards issued under the Omnibus Incentive Plan have a maximum contractual term of 10 years. As of December 28, 2024, there were 14.6 million shares available for future issuance under the Omnibus Incentive Plan. Stock-based compensation The Company classifies stock-based compensation expense in salaries, wages and benefits in the Consolidated Statements of Operations and Comprehensive Income. The Company recognized stock-based compensation expense of $61.6 million, $72.6 million and $1.9 million during fiscal years 2024, 2023 and 2022, respectively. The total tax benefit associated with stock-based compensation for fiscal years 2024, 2023 and 2022 was $6.0 million, $7.2 million and $0.4 million, respectively. Time-based options Stock option awards containing only a service condition (“time-based options”) generally vest in equal annual installments over a one-year, three-year or five-year period from the date of grant provided the participant continues to be employed by, or provide service to, the Company through each vesting date. Stock-based compensation cost for time-based options is measured at the grant date based on the fair value of the award using the Black-Scholes-Merton option pricing model and is recognized on a straight-line basis over the requisite service period of the award. The Company accounts for forfeitures of time-based options as they occur. The following assumptions apply to time-based options awarded during fiscal years 2024, 2023 and 2022 under the Black-Scholes-Merton option pricing model: Fiscal Year 2024 2023 2022 Expected volatility 35.9% to 43.0% 35.4% to 35.7% 32.7% to 39.8% Risk-free interest rate 3.9% to 4.3% 3.4% to 4.2% 1.8% to 3.6% Expected term (in years) 6.0 to 6.5 6.5 6.5 The dividend yield assumption is zero. Although the Company paid a cash dividend in February 2023 and December 2022, the Company has no history of making regular dividends, nor does it anticipate paying any cash dividends in the foreseeable future. The weighted average grant-date fair value of time-based stock options awarded during fiscal years 2024, 2023 and 2022 was $9.26, $6.01 and $5.70, respectively. Expected volatility is based on historic share price volatilities of comparable publicly traded companies consistent with the expected term. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of each grant, which corresponds to the expected term of the stock options. Based upon limited exercise history, the Company has elected to use the simplified method for estimating the expected term. The expected term of options granted represents the period of time that options are expected to be outstanding. The following table summarizes activity related to time-based options: (in thousands, except per share amounts and remaining term) Number of Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding at December 30, 2023 7,530 $ 5.99 6.93 $ 85,774 Granted 527 19.08 Exercised (1,420) 2.23 Forfeited or expired (691) 14.52 Outstanding at December 28, 2024 5,946 7.06 6.30 29,842 Exercisable at December 28, 2024 3,900 3.77 5.47 27,419 The total intrinsic value of time-based options exercised during fiscal years 2024, 2023 and 2022 was $21.8 million, $2.6 million and $0.9 million, respectively. A s of December 28, 2024, unrecognized compensation expense related to outstanding time-based options was $9.8 million, which is expected to be recognized over a weighted average remaining vesting period of 2.93 years . Performance-based options Stock option awards containing a performance condition (“performance-based options”) vest in 25% increments as performance conditions are achieved through the term of the options. Twenty-five percent of outstanding performance-based options vested upon completion of the Company’s IPO, with the remainder scheduled to vest in equal increments over three years starting on June 30, 2024 provided market-specific conditions, including stock price performance, are achieved. The vesting of performance-based options is subject to continued employment through the vesting date. To the extent that the requisite service is rendered, compensation cost for accounting purposes is not reversed; rather, it is recognized regardless of whether the market-specific conditions are achieved. The Company accounts for forfeitures of performance-based options as they occur. In October 2022, May 2023 and on July 2, 2023, the Company modified the vesting terms of its performance-based options to reflect the vesting terms above. The Company determined that the modified vesting terms constituted modifications under Topic 718 and thus remeasured the fair value of the outstanding performance-based options as of their respective modification dates. Forty-one grantees were affected by the modifications that occurred in October 2022, May 2023 and on July 2, 2023. A Black-Scholes-Merton option pricing model was used to determine the grant-date fair value of the performance-based options that were tied to the Company’s IPO and a Monte Carlo simulation under the option pricing framework was used to determine the grant-date fair value of the performance-based options subject to market-specific conditions. During fiscal years 2024 and 2023, we recognized $51.3 million and $38.8 million, respectively, of expense related to amortization of the remaining outstanding performance-based options that are recognized on a graded vesting basis over their expected vesting period. During fiscal year 2023, we also recognized $28.0 million of expense related to performance-based options that vested upon completion of our IPO. Black-Scholes-Merton option pricing model The following assumptions were used to remeasure the fair value of performance-based options resulting from the October 2022 and May 2023 modifications under the Black-Scholes-Merton option pricing model: Fiscal Year 2023 2022 Expected volatility 35.5% 35.1% Risk-free interest rate 3.5% 3.8% Expected term (in years) 6.5 6.5 The dividend yield assumption is zero. Although the Company paid a cash dividend in February 2023 and December 2022, the Company has no history of making regular dividends, nor does it anticipate paying any cash dividends in the foreseeable future. The weighted average grant-date fair value of performance-based stock options modified during fiscal years 2023 and 2022 was $16.32 and $13.51, respectively. Expected volatility is based on historic share price volatilities of comparable publicly traded companies consistent with the expected term. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of each grant, which corresponds to the expected term of the stock options. Based upon limited exercise history, the Company has elected to use the simplified method for estimating the expected term. The expected term of options granted represents the period of time that options are expected to be outstanding. Monte Carlo simulation The following assumptions were used to remeasure the fair value of performance-based options resulting from the July 2023 modifications under the Monte Carlo simulation: Fiscal Year 2023 Expected volatility 35.0% Risk-free interest rate 3.55% to 3.74% Expected term (in years) 3.1 to 6.6 The dividend yield assumption is zero. Although the Company paid a cash dividend in February 2023 and December 2022, the Company has no history of making regular dividends, nor does it anticipate paying any cash dividends in the foreseeable future. The weighted average grant-date fair value of performance-based stock options modified during July 2023 was $21.18. Expected volatility is based on historic share price volatilities of comparable publicly traded companies consistent with the expected term. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of each grant, which corresponds to the expected term of the stock options. Based upon limited exercise history, the Company has elected to use the simplified method for estimating the expected term. The expected term of options granted represents the period of time that options are expected to be outstanding. The following table summarizes activity related to performance-based options: (in thousands, except per share amounts and remaining term) Number of Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding at December 30, 2023 7,948 $ 2.05 5.78 $ 121,750 Exercised (365) 1.66 Forfeited or expired (338) 1.61 Outstanding at December 28, 2024 7,245 2.10 5.07 59,455 Exercisable at December 28, 2024 3,516 2.12 5.07 28,813 The total intrinsic value of performance-based options exercised during fiscal year 2024 was $4.1 million . No performance-based options were exercised during fiscal years 2023 and 2022. The Company did not award performance-based options during fiscal years 2024, 2023 or 2022. As of December 28, 2024, unrecognized compensation expense related to outstanding performance-based options was $29.0 million, which is expected to be recognized over a weighted average remaining vesting period of 1.5 years . Restricted Stock Units RSUs contain only a service condition and generally vest in equal annual installments over a one-year or three-year period from the date of grant, provided the participant continues to be employed by, or provide service to, the Company through each vesting date. The fair value of RSUs is determined using the closing price of the Company’s common stock on the date of the grant. All RSUs were granted after the Company’s common stock commenced trading on June 29, 2023. The following table summarizes activity related to RSUs as of December 28, 2024 : (in thousands, except per share amounts) Number of Units Weighted Average Grant-Date Fair Value Per Share Unvested at December 30, 2023 547 $ 22.81 Granted 565 18.59 Vested (186) 22.66 Forfeited (87) 21.56 Unvested at December 28, 2024 839 20.13 As of December 28, 2024 , unrecognized compensation expense related to outstanding RSUs was $12.4 million, which is expected to be recognized over a weighted average remaining vesting period of 2.2 years .

Share Repurchases

Share Repurchases	12 Months Ended
	Dec. 28, 2024
Equity [Abstract]
Share Repurchases	Share Repurchases During fiscal year 2024, under our $50.0 million share repurchase program announced in November 2023, we repurchased 3.2 million shares at a weighted average price of $9.95 and a total cost of $31.9 million, of which $0.3 million was paid subsequent to December 28, 2024 . As of December 28, 2024 , we had $18.1 million remaining under the share repurchase program. The share repurchase program does not obligate us to purchase any minimum number of shares, and the program may be suspended, modified, or discontinued at any time without prior notice. The timing, actual number and value of any additional shares purchased will depend on a variety of factors, including, but not limited to, the market price of the Company’s common stock, general business and market conditions, other investment opportunities, and applicable regulatory requirements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before income taxes consisted of the following: Fiscal Year (in thousands) 2024 2023 2022 U.S. operations $ 32,767 $ (2,940) $ 103,902 Foreign operations 16,667 50,019 20,396 Income before income taxes $ 49,434 $ 47,079 $ 124,298 Components of income tax expense (benefit) are summarized as follows: Fiscal Year (in thousands) 2024 2023 2022 Current: U.S. - federal $ 21,749 $ 8,280 $ 354 U.S. - state 5,579 6,232 3,279 Foreign 24,360 14,838 15,401 Deferred: U.S. - federal (18,733) (19,480) 16,934 U.S. - state (4,476) (13,156) 4,074 Foreign (8,075) (2,750) (464) Income tax expense (benefit) $ 20,404 $ (6,036) $ 39,578 The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities are as follows for the consolidated taxable entities at December 28, 2024 and December 30, 2023: (in thousands) December 28, 2024 December 30, 2023 Deferred tax assets: Lease liability $ 147,676 $ 129,486 Deferred interest 20,366 16,116 Deferred payroll 14,148 13,062 Unrealized foreign exchange loss 8,940 4,033 Sec. 267 deferred basis 8,466 8,493 Insurance reserves 5,141 4,935 Partnership tax deferral 4,601 — Capitalized research and development 4,413 2,894 Net operating loss carryforwards 1,281 1,142 Other 6,430 3,653 Deferred tax assets, exclusive of valuation allowance 221,462 183,814 Less: valuation allowance 10,263 5,927 Deferred tax assets, net of valuation allowance 211,199 177,887 Deferred tax liabilities: ROU lease asset 142,245 125,937 Trade names and trademarks 28,556 28,753 Property and equipment depreciation 17,197 19,407 Charity licensing agreements 10,490 12,418 Inventory 3,397 3,116 Leasehold interests 2,386 3,856 Unrealized foreign exchange gain 113 4,405 Partnership tax deferral — 2,037 Other 3,014 5,867 Deferred tax liabilities 207,398 205,796 Deferred tax assets (liabilities), net $ 3,801 $ (27,909) As of December 28, 2024 and December 30, 2023, the Company did not have U.S. federal net operating loss carryforwards and had $11.4 million and $11.5 million, respectively, of U.S. state net operating loss carryforwards. These net operating loss carryforwards expire between 2028 and 2041. As of December 28, 2024, the Company had $0.3 million of federal foreign tax credit, no federal R&D credits and no other federal tax credits. As of December 30, 2023, the Company had $0.3 million federal foreign tax credit, no federal R&D tax credits and no other federal tax credits. Section 382 of the Internal Revenue Code and similar state regulations, contain provisions that may limit certain tax attributes available to be used to offset income in any given year upon the occurrence of certain events, including changes in the ownership within the meaning of Section 382. The Company maintains a valuation allowance of $6.7 million and $3.6 million related to its Canadian and Australian operations, respectively. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts that are more-likely-than-not expected to be realized. Management evaluates and weighs all available positive and negative evidence such as historic results, projected future taxable income, future reversals of existing deferred tax liabilities, as well as prudent and feasible tax-planning strategies. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are utilizable, we believe it is more likely than not that the Company will realize the net benefits of its deferred tax assets, other than the deferred tax assets related to the unrealized foreign exchange loss in Canada and deferred tax assets in Australia for which a valuation allowance has been maintained due to uncertainties relating to their realization. The differences between income taxes expected by applying the 21% U.S. federal statutory tax rate and the amount of income taxes provided for are as follows: Fiscal Year (in thousands) 2024 2023 2022 Tax expense at statutory rate $ 10,381 $ 9,887 $ 26,103 Increase (decrease) in income taxes resulting from: Change in valuation allowance 7,348 (2,996) 4,068 Section 162(m) limitation 6,648 11,229 — Foreign rate differential 3,720 2,623 — Withholding taxes 1,619 2,279 1,687 State taxes net of federal benefit 871 4,519 5,844 Tax impact of restructuring (1) — (31,340) — Impact of foreign currency translations (619) (1) (67) Change in tax rate (878) 4 — Stock-based compensation (1,130) 1,590 (140) GILTI / FDII (2) (1,493) (1,603) (1,114) Change in uncertain tax positions (1,681) — — Prior year true-up (2,236) 4,205 (509) Tax credits (2,492) (3,741) (2,571) Other 346 (2,691) 6,277 Income tax expense (benefit) $ 20,404 $ (6,036) $ 39,578 (1) In October 2023 the Company underwent an internal legal entity restructuring. (2) GILTI and FDII refer to Global Intangible Low-Taxed Income and Foreign-Derived Intangible Income, respectively. The following table summarizes the activity related to the Company’s unrecognized tax benefits: Fiscal Year (in thousands) 2024 2023 2022 Beginning gross unrecognized tax benefits $ 1,912 $ 1,912 $ 1,912 Increase related to prior year tax position 138 — — Decrease related to prior year tax position (1,819) — — Ending gross unrecognized tax benefits $ 231 $ 1,912 $ 1,912 In the normal course of business, the Company is subject to examination by taxing authorities in the countries in which it operates. As of December 28, 2024 the operations for tax years 2021 to 2024 remain subject to examination in the US federal jurisdiction, and the operations for tax years 2020 to 2024 remain subject to examination in Canada, Australia, and most US state jurisdictions. Although the outcome of tax audits is always uncertain, the Company has assessed the probable outcomes and potential exposure and believes that it has provided adequate amounts of tax, interest and penalties for any adjustments that may arise from these open tax years. The Company’s continuing practice is to recognize interest and penalties related to income tax matters in income tax expense (benefit) in the Consolidated Statements of Operations and Comprehensive Income. In October 2023, the Company went through an internal legal entity restructuring. As a result of the restructuring, the Company’s deferred tax liability on the outside basis difference in these partnerships was reduced from $42.0 million as of December 31, 2022, to zero as of December 30, 2023 and December 28, 2024. As of December 30, 2023, the Company adjusted its deferred tax assets and liabilities to account for the basis differences related to the assets it received in the distribution noted above, including Internal Revenue Code Section 732 basis adjustments to the distributed property. Deferred taxes are not recorded for the distributed non-deductible goodwill. As of December 30, 2023, the Company recognized a deferred tax benefit of $31.3 million for the reduction of the partnership outside basis difference deferred tax liability, combined with any deferred tax assets and deferred tax liabilities recognized on the distributed property. As of December 28, 2024, the Company had not recognized a deferred tax liability on the excess of the amount for financial reporting over the tax basis in the stock of certain foreign subsidiaries that is essentially permanent in duration. This amount becomes taxable upon a repatriation of assets from the subsidiaries or a disposal of the subsidiaries. It is not practicable to determine the amount of the related unrecognized deferred income tax liability. The Organization for Economic Cooperation and Development (“OECD”) proposed model rules to ensure a minimal level of taxation (commonly referred to as Pillar II) and the European Union member states have agreed to implement Pillar II’s proposed global corporate minimum tax rate of 15%. Many countries are actively considering, have proposed or have enacted, changes to their tax laws based upon the Pillar II proposals. To mitigate the administrative burden for multinational enterprises in complying with the OECD Global Anti-Base Erosion rules during the initial years of implementation, the OECD developed the temporary “Transitional Country-by-Country Safe Harbor.” We considered the applicable tax law changes from Pillar II implementation in the relevant countries in which we operate, and there is no material impact to our tax provision for fiscal year 2024 . We will continue to evaluate the impact of these tax law changes in future reporting periods.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and regulatory matters The Company is involved from time to time in claims, proceedings and litigation arising in the ordinary course of business. The Company has made accruals with respect to these matters, where appropriate, which are reflected in the consolidated financial statements. For some matters, the amount of liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made. The Company may enter into discussions regarding settlement of these matters and may enter into settlement agreements, if in the best interest of the Company. From time to time, the Company is involved in routine litigation that arises in the ordinary course of business. There are no pending significant legal proceedings to which the Company is a party for which management believes the ultimate outcome would have a material adverse effect on the Company’s financial position.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 29,030	$ 53,115	$ 84,720

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 28, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 28, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Savers is committed to maintaining a cybersecurity risk management strategy that encompasses assessments, monitoring, and proactive measures to safeguard our assets and operations. Our approach involves a combination of internal and external risk assessments, monitoring, vulnerability scanning and remediation, external penetration testing and disaster recovery planning. On an annual basis, we conduct internal and external risk assessments to identify, evaluate, and prioritize potential risks to our business operations, data, and information systems. These assessments utilize industry-standard methodologies and frameworks to evaluate emerging threats and vulnerabilities. Specifically, we align our efforts with the National Institute of Standards and Technology framework, the Center for Internet Security (CIS) Controls 8.0 version and the Payment Card Industry Data Security Standard (PCI DSS) framework. Identified risks are categorized and assessed for potential impact, allowing us to implement targeted mitigation strategies. Continuous monitoring is a fundamental component of our risk management strategy. We employ appropriate technologies and tools to monitor our network, systems, and applications. This proactive approach supports our efforts to detect and respond to anomalies, potential threats, and emerging vulnerabilities. Our dedicated cybersecurity team conducts regular reviews of security logs and alerts, facilitating a swift and effective response to any deviations from established security baselines. We have also implemented a comprehensive third-party risk management program that includes a review of the third-party’s SOC I and II reports and their Service Level Agreements to ensure their security practices align with our standards. We employ regular vulnerability scanning processes to identify weaknesses and potential points of exploitation within our infrastructure. Following the identification of vulnerabilities, a systematic remediation process is initiated. Our activities to mitigate vulnerabilities on an ongoing basis include the application of patches and updates, and the implementation of compensating controls to address and mitigate the identified vulnerabilities. Our goal is to maintain a proactive stance in eliminating potential entry points for cyber threats. As part of our commitment to maintaining a robust security posture, we engage in annual external penetration testing conducted by reputable third-party security firms. These tests simulate real-world cyber-attacks to evaluate the effectiveness of our defenses and identify areas for improvement. The insights gained from penetration testing inform our ongoing security enhancements, aiding the resiliency of our systems against evolving cyber threats. We also have deployed a Disaster Recovery as a Service solution (DRaaS) that will enhance our ability to recover and restore data in the event of a cybersecurity incident or other event, such as a natural disaster. Our systems and data are categorized into tiers, with our most critical systems covered by appropriate backup approaches and rapid recovery tools/processes matched with their criticality. Cybersecurity Risks In 2020, we suffered a ransomware incident associated with a well-known threat actor. While personnel time and attendance data was encrypted and unrecoverable, no evidence of unauthorized access of personal or business-related information was found, and our IT Security team immediately blocked the point of entry. Post-incident, Savers undertook a comprehensive review, identifying areas of vulnerability. Controls were systematically implemented, including appropriate backup approaches and regular testing of their effectiveness, proactive security monitoring tools and processes, and the expansion of our cybersecurity team and activities. Our continued ransomware mitigation strategies focus on resiliency, rapid recovery, and automated isolation of potentially affected assets. Other than the 2020 incident discussed above, we have no reason to believe any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition. For additional information, see “ Risks Relating to Information Technology, Intellectual Property, Data Security and Privacy
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Savers is committed to maintaining a cybersecurity risk management strategy that encompasses assessments, monitoring, and proactive measures to safeguard our assets and operations. Our approach involves a combination of internal and external risk assessments, monitoring, vulnerability scanning and remediation, external penetration testing and disaster recovery planning.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	In 2020, we suffered a ransomware incident associated with a well-known threat actor. While personnel time and attendance data was encrypted and unrecoverable, no evidence of unauthorized access of personal or business-related information was found, and our IT Security team immediately blocked the point of entry. Post-incident, Savers undertook a comprehensive review, identifying areas of vulnerability. Controls were systematically implemented, including appropriate backup approaches and regular testing of their effectiveness, proactive security monitoring tools and processes, and the expansion of our cybersecurity team and activities. Our continued ransomware mitigation strategies focus on resiliency, rapid recovery, and automated isolation of potentially affected assets.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board, directly and through the Audit Committee, provides oversight of our operational risk management process and compliance with legal and regulatory requirements. As one of its responsibilities, the Audit Committee has the responsibility to review and discuss with management and the internal audit group all major financial risk exposures and management’s risk assessment and risk management policies. Further, the Audit Committee has specific oversight of risks related to data privacy and information security, including compliance with applicable laws and management’s response to material cybersecurity and privacy incidents or breaches. As part of its responsibilities, the Audit Committee periodically reviews with management the Company’s capabilities, policies, controls, methods and procedures related to (i) identifying, assessing and mitigating information and cybersecurity risks, (ii) disaster recovery and business continuity and (iii) compliance with data privacy and information security laws. Regularly scheduled Audit Committee meetings include an information technology and cybersecurity update as a standing agenda item. These updates are typically given by our Chief Information Officer (CIO) and can include additional team members from our information technology and security team. In addition, the Audit Committee also receives periodic updates from our Enterprise Risk Committee, a management committee which provides oversight to the anticipation, identification, prioritization, and management of the Company’s material risks. The Audit Committee regularly reports to the Board on its oversight of these topics. In addition, both the Audit Committee and the Board receive special presentations about risk areas as needed. The Company also maintains a Crisis Response Plan, which may be activated in the event of certain cybersecurity incidents. Our Crisis Response Plan includes specific procedures and considerations for cybersecurity and ransomware incidents, including involvement of our executive team and outside advisors and required reporting to the Audit Committee and Board. Typically, our Chief Compliance Officer (CCO) would lead management of a crisis incident.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board, directly and through the Audit Committee, provides oversight of our operational risk management process and compliance with legal and regulatory requirements.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Regularly scheduled Audit Committee meetings include an information technology and cybersecurity update as a standing agenda item. These updates are typically given by our Chief Information Officer (CIO) and can include additional team members from our information technology and security team. In addition, the Audit Committee also receives periodic updates from our Enterprise Risk Committee, a management committee which provides oversight to the anticipation, identification, prioritization, and management of the Company’s material risks. The Audit Committee regularly reports to the Board on its oversight of these topics. In addition, both the Audit Committee and the Board receive special presentations about risk areas as needed. The Company also maintains a Crisis Response Plan, which may be activated in the event of certain cybersecurity incidents. Our Crisis Response Plan includes specific procedures and considerations for cybersecurity and ransomware incidents, including involvement of our executive team and outside advisors and required reporting to the Audit Committee and Board. Typically, our Chief Compliance Officer (CCO) would lead management of a crisis incident.
Cybersecurity Risk Role of Management [Text Block]	Regularly scheduled Audit Committee meetings include an information technology and cybersecurity update as a standing agenda item. These updates are typically given by our Chief Information Officer (CIO) and can include additional team members from our information technology and security team. In addition, the Audit Committee also receives periodic updates from our Enterprise Risk Committee, a management committee which provides oversight to the anticipation, identification, prioritization, and management of the Company’s material risks. The Audit Committee regularly reports to the Board on its oversight of these topics. In addition, both the Audit Committee and the Board receive special presentations about risk areas as needed. The Company also maintains a Crisis Response Plan, which may be activated in the event of certain cybersecurity incidents. Our Crisis Response Plan includes specific procedures and considerations for cybersecurity and ransomware incidents, including involvement of our executive team and outside advisors and required reporting to the Audit Committee and Board. Typically, our Chief Compliance Officer (CCO) would lead management of a crisis incident.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our CIO has primary responsibility for assessing and managing cybersecurity risks. The CIO reports directly to the CEO and is a member of the Enterprise Risk Committee. Our current CIO is an experienced senior technology executive with over 30 years of IT experience, including several CIO roles in leading retail and direct marketing organizations. Our CCO, who is also our General Counsel, is responsible for maintaining our Crisis Response Plan. The CCO reports directly to the CEO, is a member of the Enterprise Risk Committee and also oversees the Company’s risk department. Our CCO has navigated the Company through multiple complex situations and also led the Company’s response in its 2020 ransomware attack discussed above.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our current CIO is an experienced senior technology executive with over 30 years of IT experience, including several CIO roles in leading retail and direct marketing organizations.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Board, directly and through the Audit Committee, provides oversight of our operational risk management process and compliance with legal and regulatory requirements. As one of its responsibilities, the Audit Committee has the responsibility to review and discuss with management and the internal audit group all major financial risk exposures and management’s risk assessment and risk management policies. Further, the Audit Committee has specific oversight of risks related to data privacy and information security, including compliance with applicable laws and management’s response to material cybersecurity and privacy incidents or breaches. As part of its responsibilities, the Audit Committee periodically reviews with management the Company’s capabilities, policies, controls, methods and procedures related to (i) identifying, assessing and mitigating information and cybersecurity risks, (ii) disaster recovery and business continuity and (iii) compliance with data privacy and information security laws. Regularly scheduled Audit Committee meetings include an information technology and cybersecurity update as a standing agenda item. These updates are typically given by our Chief Information Officer (CIO) and can include additional team members from our information technology and security team. In addition, the Audit Committee also receives periodic updates from our Enterprise Risk Committee, a management committee which provides oversight to the anticipation, identification, prioritization, and management of the Company’s material risks. The Audit Committee regularly reports to the Board on its oversight of these topics. In addition, both the Audit Committee and the Board receive special presentations about risk areas as needed. The Company also maintains a Crisis Response Plan, which may be activated in the event of certain cybersecurity incidents. Our Crisis Response Plan includes specific procedures and considerations for cybersecurity and ransomware incidents, including involvement of our executive team and outside advisors and required reporting to the Audit Committee and Board. Typically, our Chief Compliance Officer (CCO) would lead management of a crisis incident.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 28, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. These consolidated financial statements present the results of operations, financial position and cash flows of the Company in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company reports on a fiscal year basis, which ends on the Saturday nearest December 31. Fiscal year 2024 consisted of the 52 weeks ended December 28, 2024, fiscal year 2023 consisted of the 52 weeks ended December 30, 2023 and fiscal year 2022 consisted of the 52 weeks ended December 31, 2022. All amounts in the Notes to the Consolidated Financial Statements, with the exception of per share amounts, are rounded to the nearest thousand unless otherwise indicated.
Use of estimates	Use of estimates The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. These estimates are based on available information and on various other assumptions that are believed to be reasonable under the circumstances. Certain items subject to such estimates and assumptions include, but are not limited to, the valuation of insurance reserves, impairment assessments associated with our goodwill and indefinite-lived intangible assets, and income taxes. Actual results could vary from those estimates under different assumptions or conditions.
Foreign currency	Foreign currency The functional currency of the Company’s foreign entities is the local currency of the country in which the entity operates. Assets and liabilities of foreign operations are translated into U.S. dollars, the reporting currency of Savers Value Village, Inc., using rates of exchange in effect at the end of the reporting period. The net gain or loss resulting from translation is shown as a foreign currency translation adjustment and is included in other comprehensive (loss) income in the Consolidated Statements of Operations and Comprehe nsive Income and in accumulated other comprehensive income on the Consolidated Balance Sheets. Income and expense accounts of the Company’s foreign entities are translated into U.S. dollars using average rates of exchange during the reporting period. (Loss) gain on foreign currency, net in the Consolidated Statements of Operations and Comprehensive Income comprises realized gains and losses upon settlement of foreign currency transactions, remeasurement gains and losses on unsettled foreign currency transactions, and realized and unrealized gains and losses on cross currency swaps and forward contracts (see Note 10. Derivative Financial Instruments). Realized and unrealized gains and (losses) on foreign currency transactions totaled $27.3 million in fiscal year 2024, $9.8 million in fiscal year 2023 and $(30.0) million in fiscal year 2022. Foreign currency gains and losses relating to intercompany loans issued by or to foreign subsidiaries are not eliminated during consolidation and are included in (loss) gain on foreign currency, net in the Consolidated Statements of Operations and Comprehensive Income.
Revenue recognition	Revenue recognition Retail sales. Revenue is recorded for store sales upon the purchase of merchandise by customers. Sales taxes collected from customers are not considered revenue and are included in accounts payable and accrued liabilities on the Consolidated Balance Sheets until remitted to the taxing authorities. Revenue is recorded net of coupons, promotional discounts and sales discounts under reward programs. Revenue from gift cards is recognized upon redemption, and estimated breakage is recognized based on redemption data. The Company accounts for outstanding gift card balances as a liability, net of estimated breakage. Gift card liabilities are included in accounts payable and accrued liabilities on the Consolidated Balance Sheets. The Company does not record a sales return reserve as no right of return exists for customers. Wholesale sales. Sales of products are recognized at the point of delivery with no right of return and exclude shipping and handling costs, which are paid by the customer. The Company’s revenue arrangements do not contain a significant financing component.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consist of cash, demand deposits with banks, proceeds due from credit and debit card transactions and money market funds with maturity dates of three months or less from the date of purchase. The carrying amounts reported for cash and cash equivalents are considered to approximate fair value based upon their short maturities. The Company’s cash deposits are maintained in accounts primarily with two m ajor financial institutions in the U.S. and Canada. Substantially all cash on deposit exceeds the federally insured limits for such deposits. Money market funds are invested in a single fund that invests in U.S. Government and U.S. Treasury securities.
Trade accounts receivable	Trade accounts receivable Trade accounts receivable are recorded at the invoiced amount, net of any allowances. Both trade accounts receivable and the allowance for credit losses relate to wholesale sales.
Inventories	Inventories Inventories consist almost entirely of used clothing and other household goods purchased from nonprofit partners. Inventory is valued at the lower of average purchase cost or net realizable value.
Property and equipment	Property and equipment Property and equipment are stated at historical cost net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets ranging from 3 to 15 years for furniture, fixtures and equipment. Leasehold improvements are amortized using the straight-line method over the shorter of 7 years or t he remaining lease term.
Long-lived assets	Long-lived assets The carrying values of long-lived assets, consisting of property and equipment, right-of-use lease assets and long-lived intangible assets, are reviewed for impairment when store performance expectations, events or changes in circumstances - such as a decision to relocate or close a store, office or distribution center - indicate that the carrying amounts may not be recoverable. When testing for impairment, we group assets and liabilities at the lowest level for which cash flows are separately identifiable - which is primarily at the individual store level. We then assess the risk of impairment by comparing an estimate of the undiscounted cash flows expected to be generated by the asset group against the carrying value of the asset group (the “recoverability test”). Impairment is indicated when the carrying value of the asset group exceeds the estimated future undiscounted cash flows generated by those assets. When impairment is indicated and the fair value of the asset group is determined to be less than the carrying value of the asset group, the Company records an impairment charge equal to the amount by which the carrying value of the asset group exceeds the asset group’s fair value. Performing the recoverability test requires management to make judgments relating to future cash flows, growth rates and economic and market conditions. Depending on the asset class, estimated fair value may be determined either by the use of a discounted cash flow model and/or by reference to estimated selling prices of assets in similar condition.
Goodwill	Goodwill Goodwill is reviewed for impairment annually in the Company’s fourth quarter and whenever circumstances indicate goodwill might be impaired. The Company has the option of performing a qualitative assessment that involves evaluating relevant events and circumstances to determine whether it is more likely than not (i.e. a likelihood of greater than 50%) that the fair value of a reporting unit is less than its carrying amount. If not, no further impairment testing is performed. If the assessment indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company performs a quantitative assessment by comparing the carrying value of the reporting unit to the estimated fair value of the reporting unit, both as of the testing date. If the carrying value of the reporting unit exceeds the estimated fair value, the Company will recognize an impairment charge equal to the amount by which the carrying value exceeds the reporting unit’s estimated fair value up to but not to exceed the total amount of goodwill allocated to the reporting unit. While the Company generally performs a qualitative assessment, we may choose periodically to forgo the qualitative assessment and proceed directly to a quantitative analysis. Factors considered in determining whether to forgo the qualitative assessment and proceed directly to the quantitative analysis include the significance of the excess of a reporting unit’s estimated fair value over its carrying value at the last quantitative assessment date, the amount of time between quantitative assessments, the desirability of establishing an updated baseline quantitative analysis, and other performance and market indicators.
Intangible assets	Intangible assets Intangible assets represent the Company’s trade names, trademarks and charity licensing agreements. The Company’s trade names and trademarks, which have indefinite lives, are not amortized, but rather, reviewed for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset may be impaired. Charity licensing agreements are amortized using the straight-line method over their estimated useful life, which is usually 15 years .
Insurance reserves	Insurance reserves The Company is self-insured for general liability, medical and workers’ compensation and regularly reviews the related insurance reserves and adjusts the balances as necessary. Self-insurance claims filed and claims incurred-but-not-reported are accrued based on management’s estimates of cost by considering historical claims experience, demographic factors, severity factors and other actuarial assumptions. Additionally, the Company reviews specific large insurance claims to determine whether there is a need for any additional accruals. Changes in these assumptions could materially impact the required reserve balances and it is possible that the Company’s actual loss experience could differ materially from recorded insurance reserves.
Advertising costs	Advertising costs
Income taxes	Income taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized based on the estimated future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. A valuation allowance is established when necessary to reduce deferred income tax assets to the amount more likely than not expected to be realized. Income tax expense represents the current expense incurred for the period plus or minus the change during the period in net deferred tax assets and liabilities. Section 382 of the Internal Revenue Code and similar state regulations, contain provisions that may limit the net operating loss (“NOL”) carryforwards and other tax attributes available to be used to offset income and tax liabilities in any given year upon the occurrence of certain events, including changes in ownership of more than 50%. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount of the benefit that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense, net and penalti es in income tax expense (benefit) in the Consolidated Statements of Operations and Comprehensive Income.
Stock-based compensation	Stock-based compensation The Company’s stock-based incentive plan allows for the issuance of various types of stock-based awards, including time-based options, performance-based options and restricted stock units (“RSUs”). Options are generally granted with an exercise price equal to the fair value of our common stock at the date of grant. Prior to July 3, 2023, the date we completed our IPO, the fair value of our common stock was established by the Board at the date of grant. Upon completion of our IPO, the fair value of our common stock is determined based on the closing price of our common stock on the New York Stock Exchange on the date of grant. We estimate the fair value of time-based options using the Black-Scholes-Merton option pricing model. We also used the Black-Scholes-Merton option pricing model to determine the grant-date fair value of performance-based options that were tied to the Company’s IPO, and a Monte Carlo simulation under the option pricing framework to determine the grant-date fair value of performance-based options subject to market-specific conditions. We recognize expense for time-based options on a straight-line basis over the requisite service period of the awards. We recognize expense for performance-based options subject to Company-specific conditions when it is probable that performance conditions will be achieved, and recognize the expense on a graded vesting basis over the expected vesting period. For performance-based options subject to market-specific conditions, expense is recognized on a graded vesting basis over the expected vesting period and is recognized regardless of whether the market-specific conditions are achieved. The fair value of RSUs is estimated based on the fair value of our common stock on the date of grant. RSUs are recognized in compensation expense over the service period, which is generally the vesting period .
Share repurchases	Share repurchases Repurchased shares are retired and the excess of cost over par value is recorded as an increase in accumulated deficit.
Derivative instruments	Derivative instruments In the normal course of business, the Company may use derivative financial instruments, including interest rate swaps, cross currency swaps and foreign exchange forwards, to hedge against fluctuations in interest rates or foreign exchange rates thereby reducing our exposure to variability in cash flows on our floating-rate debt or from foreign operations. Derivative instruments are measured at fair value and classified as assets or liabilities, current or non-current, depending on the settlement dates of the individual contracts. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. Derivative instruments that are not designated as hedges are intended to economically hedge a portion of our foreign exchange risk. All gains and losses on these economic hedges are recorded immediately in (loss) gain on foreign currency, net in the Consolidated Statements of Operations and Comprehensive Income. For derivative instruments designated as cash flow hedges, unrealized gains and losses from changes in fair value are initially reported as a component of accumulated other comprehensive income on the Consolidated Balance Sheets and are reclassified to interest expense, net in the Consolidated Statements of Operations and Comprehensive Income as interest payments are made on the Company’s variable-rate debt. For derivative instruments designated as cash flow hedges, realized gains and losses from monthly settlement are a component of interest expense, net in the Consolidated Statements of Operations and Comprehensive Income. Realized gains and losses on interest rate swaps with an other-than-insignificant financing element at inception are reported within cash flows from financing activities on the Consolidated Statements of Cash Flows. Realized gains and losses on interest rate swaps without an other-than-insignificant financing element at inception are reported within cash flows from operating activities on the Consolidated Statements of Cash Flows. Realized gains and losses on cross currency swaps and forward contracts are reported within cash flows from investing activities on the Consolidated Statements of Cash Flows. The Company does not use derivative instruments for trading or speculative purposes and does not use any leveraged derivative financial instruments.
Leases	Leases The Company leases various real estate, including retail stores, offsite processing facilities, wholesale warehouses and office space, as well as vehicles. The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use (“ROU”) lease assets, lease liabilities – current and lease liabilities – non-current in our Consolidated Balance Sheets. As of December 28, 2024, finance leases of $8.5 million, $2.7 million and $5.7 million were included in property and equipment, net accounts payable and accrued liabilities other liabilities Our lease assets and liabilities are recognized at the lease commencement date based on the present value of the fixed lease payments over the lease term. As an implicit rate is not provided for most of our leases, we use an incremental borrowing rate which represents the rate used for a secured borrowing of a similar term as the lease. Our real estate leases typically require payment of real estate taxes, common area maintenance and insurance. These components comprise the majority of our variable lease costs and are excluded from the present value of our lease obligations. The Company’s leases have remaining lease terms of greater than 1 year to 21 years. The lease term includes the initial contractual term as well as any options to extend the lease when it is reasonably certain that the Company will exercise that option. The option periods are generally not included in the lease term used to measure our lease liabilities and lease assets upon commencement as exercise of the options is not reasonably certain. We remeasure the lease liability and lease asset when we are reasonably certain to exercise a renewal option. The Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants.
Recently adopted accounting pronouncements and Recently issued accounting pronouncements not yet adopted	Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments in this update require enhanced disclosures about significant expenses on an annual and interim basis for all public entities. The amendments in this update were effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this new guidance impacted the Company’s disclosures only and had no impact to its results of operations, financial position or cash flows. Recently issued accounting pronouncements not yet adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in this update require that public entities on an annual basis disclose specific categories in the rate reconciliation table, provide additional information for reconciling items that meet a quantitative threshold and provide additional information about income taxes paid. The amendments in this Update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. This guidance is expected to impact the Company’s disclosures only with no impact to its results of operations, financial position or cash flows. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . The amendments in this update require public entities to disclose, on an annual and interim basis, specific expenses included in each relevant expense caption on the income statement. T he amendments in this update are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is perm itted. This guidance is expected to impact the Company’s disclosures only with no impact to its results of operations, financial position or cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 28, 2024
Accounting Policies [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by retail and wholesale for the periods presented: Fiscal Year (in thousands) 2024 2023 2022 Retail sales $ 1,463,404 $ 1,427,024 $ 1,365,109 Wholesale sales 74,213 73,225 72,120 Total net sales $ 1,537,617 $ 1,500,249 $ 1,437,229

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 28, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, and Equipment, Net	Property and equipment, net, consisted of the following: (in thousands) December 28, 2024 December 30, 2023 Furniture, fixtures and equipment $ 291,772 $ 257,934 Leasehold improvements 133,947 116,158 Finance leases 13,281 5,285 Construction in progress 74,922 35,107 Total property and equipment 513,922 414,484 Less: accumulated depreciation 243,799 185,079 Total property and equipment, net $ 270,123 $ 229,405

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying value of goodwill by reportable segments were as follows: (in thousands) U.S. Retail Canada Retail Total Balance at December 31, 2022 $ 414,946 $ 266,501 $ 681,447 Foreign currency translation effect — 5,921 5,921 Balance at December 30, 2023 414,946 272,422 687,368 Foreign currency translation effect — (21,951) (21,951) Business acquisition 48 — 48 Balance at December 28, 2024 $ 414,994 $ 250,471 $ 665,465

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The components of intangible assets were as follows: (in thousands) December 28, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks $ 118,650 $ — $ 118,650 Charity licensing agreements 63,625 (22,945) 40,680 Total $ 182,275 $ (22,945) $ 159,330 (in thousands) December 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks $ 118,650 $ — $ 118,650 Charity licensing agreements 68,189 (20,158) 48,031 Total $ 186,839 $ (20,158) $ 166,681
Schedule of Finite-Lived Intangible Assets	The components of intangible assets were as follows: (in thousands) December 28, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks $ 118,650 $ — $ 118,650 Charity licensing agreements 63,625 (22,945) 40,680 Total $ 182,275 $ (22,945) $ 159,330 (in thousands) December 30, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks $ 118,650 $ — $ 118,650 Charity licensing agreements 68,189 (20,158) 48,031 Total $ 186,839 $ (20,158) $ 166,681

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 28, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consisted of the following: (in thousands) December 28, 2024 December 30, 2023 Senior Secured Notes $ 445,500 $ 495,000 Term Loan Facility 315,756 321,756 Total face value of debt 761,256 816,756 Less: current portion of long-term debt 6,000 4,500 Less: unamortized debt issuance costs and debt discount 20,123 27,663 Long-term debt, net $ 735,133 $ 784,593
Schedule of Debt Instrument Redemption	We may redeem the Notes in whole or in part at the redemption prices set forth below, plus accrued and unpaid interest: For the Period Redemption Price February 15, 2025 through February 14, 2026 104.875 % February 15, 2026 through February 14, 2027 102.438 % On or after February 15, 2027 100.000 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 28, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at December 28, 2024: (in thousands) Fair Value Hierarchy Total Level 1 Level 2 Level 3 Assets: Money market funds $ 57,000 $ — $ — $ 57,000 Forward contracts — 4,574 — 4,574 Total $ 57,000 $ 4,574 $ — $ 61,574 Liabilities: Acquisition-related contingent consideration $ — $ — $ 2,000 $ 2,000 The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at December 30, 2023: (in thousands) Fair Value Hierarchy Total Level 1 Level 2 Level 3 Assets: Money market funds $ 90,000 $ — $ — $ 90,000 Interest rate swaps — 10,379 — 10,379 Cross currency swap — 20,831 — 20,831 Total $ 90,000 $ 31,210 $ — $ 121,210 Liabilities: Cross currency swaps $ — $ 466 $ — $ 466 Forward contracts — 384 — 384 Total $ — $ 850 $ — $ 850
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table provides quantitative information regarding Level 3 inputs used in the fair value measurement of the acquisition-related contingent consideration liability as of December 28, 2024 : Acquisition-Related Contingent Consideration Liability Valuation Technique Unobservable Input Range Potential payment Probability-weighted present value Probability of payment 0% - 100% Discount rate 9.4% Projected years of payments 2025 - 2027
Schedule of Fair Value, Liabilities Measured on Recurring Basis	The following table provides a reconciliation of the acquisition-related contingent consideration liability measured at fair value using Level 3 significant unobservable inputs: (in thousands) Balance at May 6, 2024 (1) $ 1,898 Change in fair value recorded in selling, general and administrative 102 Balance at December 28, 2024 $ 2,000 (1) 2 Peaches was acquired on May 6, 2024.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 28, 2024
Leases [Abstract]
Schedule of Lease, Cost	The components of total lease costs, net, consisted of the following: Fiscal Year (in thousands) 2024 2023 2022 Operating lease costs $ 132,173 $ 119,908 $ 114,788 Short-term and variable lease costs 53,191 41,559 48,812 Sublease income (2,452) (2,703) (2,510) Finance lease costs: Amortization of lease assets 1,725 1,152 — Interest on lease obligations 587 247 — Total lease costs, net $ 185,224 $ 160,163 $ 161,090 Supplemental balance sheet information related to leases is as follows: December 28, 2024 December 30, 2023 Operating Leases Finance Leases Operating Leases Finance Leases Weighted average remaining lease term (years) 7.68 4.70 6.94 1.50 Weighted average discount rate 8.62% 8.65% 8.53% 5.16%
Schedule of Lessee, Operating Lease, Liability, to be Paid, Maturity	The maturities of our lease obligations at December 28, 2024 were as follows: (in thousands) Operating Leases Finance Leases Total 2025 $ 124,729 $ 2,758 $ 127,487 2026 120,471 2,454 122,925 2027 105,375 1,981 107,356 2028 83,979 1,315 85,294 2029 77,293 1,241 78,534 Thereafter 282,647 1,108 283,755 Total undiscounted payments 794,494 10,857 805,351 Less: Interest 232,342 2,384 234,726 Present value of lease obligations $ 562,152 $ 8,473 $ 570,625
Schedule of Leases, Supplemental Cash Flow Information	Supplemental cash flow information related to leases is as follows: Fiscal Year (in thousands) 2024 2023 2022 Cash paid for amounts included in the measurement of lease obligations Operating cash flows for operating leases $ 123,945 $ 112,139 $ 105,359 Operating cash flows for finance leases 587 247 — Financing cash flows for finance leases 1,615 1,526 — Noncash investing activities Assets obtained in exchange for new operating lease obligations $ 160,348 $ 145,206 $ 70,425 Assets obtained in exchange for new finance lease obligations 4,738 3,517 —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cross Currency Swap Contracts, Forward Contracts, and Interest Rate Swaps	The fair values of cross currency swap contracts, forward contracts and interest rate swap contracts were as follows: (in thousands) Balance Sheet Location December 28, 2024 December 30, 2023 Derivatives not designated as hedging instruments: Forward contracts Derivative asset – current $ 4,574 $ — Cross currency swaps Derivative asset – non-current — 20,831 Total derivatives in an asset position $ 4,574 $ 20,831 Forward contracts Accounts payable and accrued liabilities $ — $ 384 Cross currency swaps Accounts payable and accrued liabilities — 466 Total derivatives in a liability position $ — $ 850 Derivatives designated as hedging instruments: Interest rate swaps Derivative asset – current $ — $ 7,691 Interest rate swaps Derivative asset – non-current — 2,688 Total derivatives in an asset position $ — $ 10,379 Total deferred gain Accumulated other comprehensive income $ 4,432 $ 13,045
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The impact of derivative financial instruments on the Consolidated Statements of Operations and Comprehensive Income was as follows: (in thousands) Fiscal Year 2024 2023 2022 Gain (loss) on forward contracts recognized in (loss) gain on foreign currency, net $ 5,401 $ (373) $ 802 Gain (loss) on cross currency swaps recognized in (loss) gain on foreign currency, net $ 7,647 $ (2,770) $ 8,416 Gain on interest rate swaps recognized in interest expense, net $ 10,977 $ 11,110 $ 2,169
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below presents the effect of cash flow hedge accounting on other comprehensive (loss) income, net of tax: (in thousands) Fiscal Year 2024 2023 2022 Gain recognized in other comprehensive (loss) income $ 2,364 $ 3,141 $ 20,678 Gain reclassified from accumulated other comprehensive income into net income $ 10,977 $ 11,110 $ 2,205

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 28, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Our segment results are presented in the tables below. In each table, “Other profit” is attributable to the Australia Retail and Wholesale operating segments which have been combined. Fiscal Year 2024 (in thousands) U.S. Retail Canada Retail Total Segment sales $ 832,581 $ 586,971 $ 1,419,552 Segment expenses: Cost of merchandise sold, exclusive of depreciation and amortization 375,417 239,138 614,555 Salaries, wages and benefits 117,034 70,534 187,568 Selling, general and administrative 152,897 112,163 265,060 Total segment expenses 645,348 421,835 1,067,183 Segment profit $ 187,233 $ 165,136 352,369 Reconciliation of profit Other profit 36,059 General corporate expenses 188,709 Depreciation and amortization 69,530 Operating income 130,189 Interest expense, net (62,444) Loss on foreign currency, net (14,294) Other income, net 71 Loss on extinguishment of debt (4,088) Income before income taxes $ 49,434 Fiscal Year 2023 (in thousands) U.S. Retail Canada Retail Total Segment sales $ 780,126 $ 605,630 $ 1,385,756 Segment expenses: Cost of merchandise sold, exclusive of depreciation and amortization 336,164 233,054 569,218 Salaries, wages and benefits 107,670 72,638 180,308 Selling, general and administrative 138,146 110,039 248,185 Total segment expenses 581,980 415,731 997,711 Segment profit $ 198,146 $ 189,899 388,045 Reconciliation of profit Other profit 39,572 General corporate expenses 224,616 Depreciation and amortization 61,144 Operating income 141,857 Interest expense, net (88,500) Gain on foreign currency, net 6,660 Other income, net 3,688 Loss on extinguishment of debt (16,626) Income before income taxes $ 47,079 Fiscal Year 2022 (in thousands) U.S. Retail Canada Retail Total Segment sales $ 747,397 $ 582,944 $ 1,330,341 Segment expenses: Cost of merchandise sold, exclusive of depreciation and amortization 317,537 219,802 537,339 Salaries, wages and benefits 109,272 79,057 188,329 Selling, general and administrative 138,924 110,168 249,092 Total segment expenses 565,733 409,027 974,760 Total segment profit $ 181,664 $ 173,917 355,581 Reconciliation of profit Other profit 33,395 General corporate expenses 126,997 Depreciation and amortization 55,753 Operating income 206,226 Interest expense, net (64,744) Loss on foreign currency, net (20,737) Other income, net 4,576 Loss on extinguishment of debt (1,023) Income before income taxes $ 124,298 The following table reconciles total reportable segment net sales to consolidated net sales. “Other sales” is attributable to the Australia Retail and Wholesale operating segments which have been combined. Fiscal Year (in thousands) 2024 2023 2022 Total segment sales $ 1,419,552 $ 1,385,756 $ 1,330,341 Other sales 118,065 114,493 106,888 Total net sales $ 1,537,617 $ 1,500,249 $ 1,437,229 The following table disaggregates the Company’s net sales by geography, based on the location of the Company’s customers: Fiscal Year (in thousands) 2024 2023 2022 U.S. $ 850,887 $ 799,619 $ 771,884 Canada 602,257 622,690 598,451 Australia 43,852 41,268 34,768 Rest of world 40,621 36,672 32,126 Total net sales $ 1,537,617 $ 1,500,249 $ 1,437,229
Schedule of Long-Lived Assets by Geographic Areas	The following table disaggregates our long-lived assets by location: (in thousands) December 28, 2024 December 30, 2023 U.S. $ 527,126 $ 453,446 Canada 297,479 302,322 Australia 38,960 21,043 Total long-lived assets $ 863,565 $ 776,811

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 28, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net (Loss) Income per Share	Basic and diluted net income per share were as follows: Fiscal Year (in thousands, except per share data) 2024 2023 2022 Numerator Net income $ 29,030 $ 53,115 $ 84,720 Denominator Basic weighted average shares outstanding 160,911 151,027 141,561 Dilutive effect of employee stock options and awards 5,795 5,129 4,488 Diluted weighted average shares outstanding (1) 166,706 156,156 146,049 Net income per share Basic $ 0.18 $ 0.35 $ 0.60 Diluted $ 0.17 $ 0.34 $ 0.58 (1) For fiscal years 2024, 2023 and

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The following assumptions apply to time-based options awarded during fiscal years 2024, 2023 and 2022 under the Black-Scholes-Merton option pricing model: Fiscal Year 2024 2023 2022 Expected volatility 35.9% to 43.0% 35.4% to 35.7% 32.7% to 39.8% Risk-free interest rate 3.9% to 4.3% 3.4% to 4.2% 1.8% to 3.6% Expected term (in years) 6.0 to 6.5 6.5 6.5 The following assumptions were used to remeasure the fair value of performance-based options resulting from the October 2022 and May 2023 modifications under the Black-Scholes-Merton option pricing model: Fiscal Year 2023 2022 Expected volatility 35.5% 35.1% Risk-free interest rate 3.5% 3.8% Expected term (in years) 6.5 6.5 The following assumptions were used to remeasure the fair value of performance-based options resulting from the July 2023 modifications under the Monte Carlo simulation: Fiscal Year 2023 Expected volatility 35.0% Risk-free interest rate 3.55% to 3.74% Expected term (in years) 3.1 to 6.6
Schedule of Share-Based Payment Arrangement, Option, Activity	The following table summarizes activity related to time-based options: (in thousands, except per share amounts and remaining term) Number of Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding at December 30, 2023 7,530 $ 5.99 6.93 $ 85,774 Granted 527 19.08 Exercised (1,420) 2.23 Forfeited or expired (691) 14.52 Outstanding at December 28, 2024 5,946 7.06 6.30 29,842 Exercisable at December 28, 2024 3,900 3.77 5.47 27,419
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity	The following table summarizes activity related to performance-based options: (in thousands, except per share amounts and remaining term) Number of Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding at December 30, 2023 7,948 $ 2.05 5.78 $ 121,750 Exercised (365) 1.66 Forfeited or expired (338) 1.61 Outstanding at December 28, 2024 7,245 2.10 5.07 59,455 Exercisable at December 28, 2024 3,516 2.12 5.07 28,813
Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity	The following table summarizes activity related to RSUs as of December 28, 2024 : (in thousands, except per share amounts) Number of Units Weighted Average Grant-Date Fair Value Per Share Unvested at December 30, 2023 547 $ 22.81 Granted 565 18.59 Vested (186) 22.66 Forfeited (87) 21.56 Unvested at December 28, 2024 839 20.13

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 28, 2024
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax Expense (Benefit)	Income before income taxes consisted of the following: Fiscal Year (in thousands) 2024 2023 2022 U.S. operations $ 32,767 $ (2,940) $ 103,902 Foreign operations 16,667 50,019 20,396 Income before income taxes $ 49,434 $ 47,079 $ 124,298
Schedule of Components of Income Tax Expense (Benefit)	Components of income tax expense (benefit) are summarized as follows: Fiscal Year (in thousands) 2024 2023 2022 Current: U.S. - federal $ 21,749 $ 8,280 $ 354 U.S. - state 5,579 6,232 3,279 Foreign 24,360 14,838 15,401 Deferred: U.S. - federal (18,733) (19,480) 16,934 U.S. - state (4,476) (13,156) 4,074 Foreign (8,075) (2,750) (464) Income tax expense (benefit) $ 20,404 $ (6,036) $ 39,578
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities are as follows for the consolidated taxable entities at December 28, 2024 and December 30, 2023: (in thousands) December 28, 2024 December 30, 2023 Deferred tax assets: Lease liability $ 147,676 $ 129,486 Deferred interest 20,366 16,116 Deferred payroll 14,148 13,062 Unrealized foreign exchange loss 8,940 4,033 Sec. 267 deferred basis 8,466 8,493 Insurance reserves 5,141 4,935 Partnership tax deferral 4,601 — Capitalized research and development 4,413 2,894 Net operating loss carryforwards 1,281 1,142 Other 6,430 3,653 Deferred tax assets, exclusive of valuation allowance 221,462 183,814 Less: valuation allowance 10,263 5,927 Deferred tax assets, net of valuation allowance 211,199 177,887 Deferred tax liabilities: ROU lease asset 142,245 125,937 Trade names and trademarks 28,556 28,753 Property and equipment depreciation 17,197 19,407 Charity licensing agreements 10,490 12,418 Inventory 3,397 3,116 Leasehold interests 2,386 3,856 Unrealized foreign exchange gain 113 4,405 Partnership tax deferral — 2,037 Other 3,014 5,867 Deferred tax liabilities 207,398 205,796 Deferred tax assets (liabilities), net $ 3,801 $ (27,909)
Schedule of Effective Income Tax Reconciliation	The differences between income taxes expected by applying the 21% U.S. federal statutory tax rate and the amount of income taxes provided for are as follows: Fiscal Year (in thousands) 2024 2023 2022 Tax expense at statutory rate $ 10,381 $ 9,887 $ 26,103 Increase (decrease) in income taxes resulting from: Change in valuation allowance 7,348 (2,996) 4,068 Section 162(m) limitation 6,648 11,229 — Foreign rate differential 3,720 2,623 — Withholding taxes 1,619 2,279 1,687 State taxes net of federal benefit 871 4,519 5,844 Tax impact of restructuring (1) — (31,340) — Impact of foreign currency translations (619) (1) (67) Change in tax rate (878) 4 — Stock-based compensation (1,130) 1,590 (140) GILTI / FDII (2) (1,493) (1,603) (1,114) Change in uncertain tax positions (1,681) — — Prior year true-up (2,236) 4,205 (509) Tax credits (2,492) (3,741) (2,571) Other 346 (2,691) 6,277 Income tax expense (benefit) $ 20,404 $ (6,036) $ 39,578 (1) In October 2023 the Company underwent an internal legal entity restructuring. (2) GILTI and FDII refer to Global Intangible Low-Taxed Income and Foreign-Derived Intangible Income, respectively.
Schedule of Unrecognized Tax Benefits	The following table summarizes the activity related to the Company’s unrecognized tax benefits: Fiscal Year (in thousands) 2024 2023 2022 Beginning gross unrecognized tax benefits $ 1,912 $ 1,912 $ 1,912 Increase related to prior year tax position 138 — — Decrease related to prior year tax position (1,819) — — Ending gross unrecognized tax benefits $ 231 $ 1,912 $ 1,912

Description of Business and B_2

Description of Business and Basis of Presentation (Details) $ / shares in Units, $ in Millions	Jul. 03, 2023 USD ($) $ / shares shares	Dec. 28, 2024 $ / shares shares	Dec. 30, 2023 $ / shares shares	Jun. 28, 2023 vote $ / shares shares	Jan. 07, 2022 shares
Class of Stock [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 0.000001	$ 0.000001	$ 0.000001
Common stock, shares authorized (in shares)		800,000,000	800,000,000	800,000,000
Preferred stock, shares authorized (in shares)		100,000	100,000	100,000,000
Preferred stock, par value (in usd per share) | $ / shares		$ 0.000001	$ 0.000001	$ 0.000001
Votes per share | vote				1
Corporate Conversion
Class of Stock [Line Items]
Conversion of stock, ratio of shares received (in shares)					1
Selling Stockholders
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	6,900,000
IPO
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	18,800,000
Common stock, par value (in usd per share) | $ / shares	$ 0.000001
Sale of stock, price per share (in usd per share) | $ / shares	$ 18
Consideration received on transaction | $	$ 295
Underwriting discounts and commissions | $	22.8
Offering expenses | $	$ 19.7
Over-Allotment Option | Selling Stockholders
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	3,300,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Foreign currency (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Aggregate foreign currency translation gain (loss)	$ (27.3)	$ 9.8	$ (30)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 1,537,617	$ 1,500,249	$ 1,437,229
Retail sales
Disaggregation of Revenue [Line Items]
Net sales	1,463,404	1,427,024	1,365,109
Wholesale sales
Disaggregation of Revenue [Line Items]
Net sales	$ 74,213	$ 73,225	$ 72,120

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Cash and cash equivalents (Details)	Dec. 28, 2024 financial_institution
Accounting Policies [Abstract]
Number of financial institutions	2

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Property and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Impairment of property and equipment	$ 4.3	$ 0	$ 0
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	15 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Goodwill, impairment	$ 0	$ 0	$ 0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Intangible Assets (Details)	Dec. 28, 2024
Accounting Policies [Abstract]
Intangible assets, useful life	15 years

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Advertising costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Advertising costs	$ 10.7	$ 9	$ 11.9

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Leases (Details) $ in Millions	Dec. 28, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Finance lease, right-of-use asset, after accumulated amortization	$ 8.5
Finance lease, liability, current	2.7
Finance lease, liability, noncurrent	$ 5.7
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	21 years

2 Peaches Acquisition (Details)

2 Peaches Acquisition (Details) $ in Thousands	May 06, 2024 USD ($) store	Dec. 28, 2024 USD ($)	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 665,465	$ 687,368	$ 681,447
2 Peaches Group, LLC
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 5,400
Business combination, cash consideration	3,500
Acquisition-related contingent consideration	500
Acquisition-related contingent consideration	1,900
Goodwill	100
Tangible and intangible assets acquired	12,500
Business combination, right-of-use assets	8,500
Business combination, charity licensing agreements	2,900
Business combination, inventory	500
Business combination, property and equipment	400
Business combination, cash and equivalents	100
Liabilities assumed	7,100
Acquisition-related contingent consideration, expected payment of revenue milestones	$ 2,700
2 Peaches Group, LLC | GEORGIA
Business Acquisition [Line Items]
Number of stores acquired | store	7

Property and Equipment - Schedu

Property and Equipment - Schedule of Property, and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Property, Plant and Equipment [Line Items]
Finance leases	$ 13,281	$ 5,285
Total property and equipment	513,922	414,484
Less: accumulated depreciation	243,799	185,079
Total property and equipment, net	270,123	229,405
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	291,772	257,934
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	133,947	116,158
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 74,922	$ 35,107

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 61.3	$ 56	$ 49.6

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 687,368	$ 681,447
Foreign currency translation effect	(21,951)	5,921
Business acquisition	48
Goodwill, ending balance	665,465	687,368
U.S. Retail
Goodwill [Roll Forward]
Goodwill, beginning balance	414,946	414,946
Foreign currency translation effect	0	0
Business acquisition	48
Goodwill, ending balance	414,994	414,946
Canada Retail
Goodwill [Roll Forward]
Goodwill, beginning balance	272,422	266,501
Foreign currency translation effect	(21,951)	5,921
Business acquisition	0
Goodwill, ending balance	$ 250,471	$ 272,422

Intangible Assets - Schedule of

Intangible Assets - Schedule of Indefinite and Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (22,945)	$ (20,158)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	182,275	186,839
Accumulated Amortization	(22,945)	(20,158)
Net Carrying Amount	159,330	166,681
Trade names and trademarks
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	118,650	118,650
Charity licensing agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	63,625	68,189
Accumulated Amortization	(22,945)	(20,158)
Net Carrying Amount	40,680	48,031
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (22,945)	$ (20,158)

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense, long-lived intangible assets	$ 8.3	$ 5.2	$ 6.1
Estimated aggregate amortization expense of long-lived intangible assets, 2025	4.3
Estimated aggregate amortization expense of long-lived intangible assets, 2026	4.3
Estimated aggregate amortization expense of long-lived intangible assets, 2027	4.3
Estimated aggregate amortization expense of long-lived intangible assets, 2028	4.3
Estimated aggregate amortization expense of long-lived intangible assets, 2029	$ 4.3

Indebtedness - Schedule of Debt

Indebtedness - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Debt Instrument [Line Items]
Total face value of debt	$ 761,256	$ 816,756
Less: current portion of long-term debt	6,000	4,500
Less: unamortized debt issuance costs and debt discount	20,123	27,663
Long-term debt, net	735,133	784,593
Senior Secured Notes | Senior Secured Notes
Debt Instrument [Line Items]
Total face value of debt	445,500	495,000
Line of Credit | Term Loan Facility | Senior Secured Credit Facilities
Debt Instrument [Line Items]
Total face value of debt	$ 315,756	$ 321,756

Indebtedness - Long-term Debt (

Indebtedness - Long-term Debt (Details) $ in Thousands				12 Months Ended
	Feb. 06, 2025 USD ($)	Mar. 04, 2024 USD ($)	Jan. 30, 2024 USD ($)	Dec. 28, 2024 USD ($)	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Repayments of long-term debt				$ 55,500	$ 547,931	$ 10,991
Loss on extinguishment of debt				4,088	16,626	1,023
Dividends paid				0	262,235	69,433
One-time bonus					23,600
Prepayment premium on extinguishment of debt				$ 1,485	1,650	$ 1,023
Senior Secured Notes | Senior Secured Notes
Debt Instrument [Line Items]
Face amount					550,000
Repayments of senior debt					55,000
Loss on extinguishment of debt		$ 3,400	$ 700
Debt instrument, repurchased face amount		$ 49,500
Principal amount, percentage		10%
Debt instrument, redemption, premium		0.03
Prepayment premium on extinguishment of debt		$ 1,500
Senior Secured Notes | Senior Secured Notes | Subsequent Event
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ (2,700)
Debt instrument, repurchased face amount	$ 44,500
Principal amount, percentage	10%
Debt instrument, redemption, premium	0.03
Prepayment premium on extinguishment of debt	$ 1,300
Senior Secured Notes | Term Loan Facility | Term Loan Facility
Debt Instrument [Line Items]
Repayments of long-term debt					$ 485,800

Indebtedness - Senior-Secured N

Indebtedness - Senior-Secured Notes (Details) - Senior Secured Notes - Senior Secured Notes $ in Millions	12 Months Ended
	Dec. 28, 2024 USD ($)
Debt Instrument, Redemption [Line Items]
Interest rate	9.75%
Interest Payable	$ 16.1
Debt Instrument, Redemption, Period Four
Debt Instrument, Redemption [Line Items]
Redemption price, percentage	101%

Indebtedness - Schedule of Seni

Indebtedness - Schedule of Senior-Secured Notes (Details)	12 Months Ended
	Dec. 28, 2024
February 15, 2025 through February 14, 2026
Debt Instrument, Redemption [Line Items]
Redemption price, percentage	104.875%
February 15, 2026 through February 14, 2027
Debt Instrument, Redemption [Line Items]
Redemption price, percentage	102.438%
On or after February 15, 2027
Debt Instrument, Redemption [Line Items]
Redemption price, percentage	100%

Indebtedness - Senior Secured C

Indebtedness - Senior Secured Credit Facilities (Details) $ in Millions	Dec. 28, 2024 USD ($)
Term Loan Facility | Uncommitted Incremental Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 136

Indebtedness - Term Loan Facili

Indebtedness - Term Loan Facility (Details) - Term Loan Facility - Senior Secured Credit Facilities - Line of Credit	12 Months Ended
	Dec. 28, 2024
Debt Instrument [Line Items]
Debt instrument, covenant, leverage ratio, maximum	3.50
Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.75%

Indebtedness - Revolving Credit

Indebtedness - Revolving Credit Facility (Details) - The Revolving Credit Facility $ in Millions	12 Months Ended
	Dec. 28, 2024 USD ($)
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 125
Line of credit facility, remaining borrowing capacity	$ 123.8
Commitment fee percentage, payable quarterly	0.50%
Debt instrument, covenant, leverage ratio, maximum	7.75
Financial maintenance covenant, committed amount threshold	35%
Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.25%
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 60
Letters of credit outstanding, amount	1.2
Undrawn letters of credit excluded from financial maintenance covenant	20
Swingline Sublimit | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 10

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Assets:
Total	$ 61,574	$ 121,210
Liabilities:
Acquisition-related contingent consideration	2,000
Total		850
Level 1
Assets:
Total	57,000	90,000
Liabilities:
Acquisition-related contingent consideration	0
Total		0
Level 2
Assets:
Total	4,574	31,210
Liabilities:
Acquisition-related contingent consideration	0
Total		850
Level 3
Assets:
Total	0	0
Liabilities:
Acquisition-related contingent consideration	2,000
Total		0
Interest rate swaps
Assets:
Derivative assets		10,379
Interest rate swaps | Level 1
Assets:
Derivative assets		0
Interest rate swaps | Level 2
Assets:
Derivative assets		10,379
Interest rate swaps | Level 3
Assets:
Derivative assets		0
Cross currency swaps
Assets:
Derivative assets		20,831
Liabilities:
Derivative liabilities		466
Cross currency swaps | Level 1
Assets:
Derivative assets		0
Liabilities:
Derivative liabilities		0
Cross currency swaps | Level 2
Assets:
Derivative assets		20,831
Liabilities:
Derivative liabilities		466
Cross currency swaps | Level 3
Assets:
Derivative assets		0
Liabilities:
Derivative liabilities		0
Forward contracts
Assets:
Derivative assets	4,574
Liabilities:
Derivative liabilities		384
Forward contracts | Level 1
Assets:
Derivative assets	0
Liabilities:
Derivative liabilities		0
Forward contracts | Level 2
Assets:
Derivative assets	4,574
Liabilities:
Derivative liabilities		384
Forward contracts | Level 3
Assets:
Derivative assets	0
Liabilities:
Derivative liabilities		0
Money market funds
Assets:
Cash equivalents	57,000	90,000
Money market funds | Level 1
Assets:
Cash equivalents	57,000	90,000
Money market funds | Level 2
Assets:
Cash equivalents	0	0
Money market funds | Level 3
Assets:
Cash equivalents	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Impairment on ROU assets	$ 2.5
Property and equipment impairment	1.8
Level 1 | Senior Secured Notes | Senior Secured Notes
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value	$ 467.6	$ 525.5

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of the Fair Value Measurement of the Acquisition-Related Contingent Consideration Liability (Details) - Level 3	Dec. 28, 2024
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0.094
Minimum | Probability of payment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	0
Maximum | Probability of payment
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, liability, measurement input	1

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of the Acquisition-Related Contingent Consideration Liability (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 28, 2024	Dec. 28, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,898
Change in fair value recorded in selling, general and administrative	102
Ending balance	$ 2,000	$ 2,000
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Selling, general and administrative

Leases - Lease, Cost (Details)

Leases - Lease, Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease costs	$ 132,173	$ 119,908	$ 114,788
Short-term and variable lease costs	53,191	41,559	48,812
Sublease income	(2,452)	(2,703)	(2,510)
Amortization of lease assets	1,725	1,152	0
Interest on lease obligations	587	247	0
Total lease costs, net	$ 185,224	$ 160,163	$ 161,090

Leases - Lessee, Operating Leas

Leases - Lessee, Operating Lease, Liability, to be Paid, Maturity (Details) $ in Thousands	Dec. 28, 2024 USD ($)
Operating Leases
2025	$ 124,729
2026	120,471
2027	105,375
2028	83,979
2029	77,293
Thereafter	282,647
Total undiscounted payments	794,494
Less: Interest	232,342
Present value of lease obligations	562,152
Finance Leases
2025	2,758
2026	2,454
2027	1,981
2028	1,315
2029	1,241
Thereafter	1,108
Total undiscounted payments	10,857
Less: Interest	2,384
Present value of lease obligations	8,473
Total
2025	127,487
2026	122,925
2027	107,356
2028	85,294
2029	78,534
Thereafter	283,755
Total undiscounted payments	805,351
Less: Interest	234,726
Present value of lease obligations	$ 570,625

Leases - Leases, Supplemental C

Leases - Leases, Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease obligations
Operating cash flows for operating leases	$ 123,945	$ 112,139	$ 105,359
Operating cash flows for finance leases	587	247	0
Financing cash flows for finance leases	1,615	1,526	0
Noncash investing activities
Assets obtained in exchange for new operating lease obligations	160,348	145,206	70,425
Assets obtained in exchange for new finance lease obligations	$ 4,738	$ 3,517	$ 0

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details)	Dec. 28, 2024	Dec. 30, 2023
Leases [Abstract]
Operating Leases, Weighted average remaining lease term (years)	7 years 8 months 4 days	6 years 11 months 8 days
Finance Leases, Weighted average remaining lease term (years)	4 years 8 months 12 days	1 year 6 months
Operating Leases, Weighted average discount rate	8.62%	8.53%
Finance Leases, Weighted average discount rate	8.65%	5.16%

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2024	Dec. 28, 2024	Dec. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gains that will be reclassified within 12 months		$ 4.4
Forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount		$ 102.5	$ 33.2
Cross currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount			275
Proceeds from derivative instrument,	$ 28.1
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount			$ 275
Proceeds from derivative instrument,	$ 10.3

Derivative Financial Instrume_4

Derivative Financial Instruments - Cross Currency Swap (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Total deferred gain	$ 4,432	$ 13,045
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivatives in an asset position	4,574	20,831
Total derivatives in a liability position	0	850
Not Designated as Hedging Instrument | Forward contracts | Derivative asset – current
Derivatives, Fair Value [Line Items]
Total derivatives in an asset position	4,574	0
Not Designated as Hedging Instrument | Forward contracts | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Total derivatives in a liability position	0	384
Not Designated as Hedging Instrument | Cross currency swaps | Derivative asset – non-current
Derivatives, Fair Value [Line Items]
Total derivatives in an asset position	0	20,831
Not Designated as Hedging Instrument | Cross currency swaps | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Total derivatives in a liability position	0	466
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivatives in an asset position	0	10,379
Designated as Hedging Instrument | Interest rate swaps | Derivative asset – current
Derivatives, Fair Value [Line Items]
Total derivatives in an asset position	0	7,691
Designated as Hedging Instrument | Interest rate swaps | Derivative asset – non-current
Derivatives, Fair Value [Line Items]
Total derivatives in an asset position	$ 0	$ 2,688

Derivative Financial Instrume_5

Derivative Financial Instruments - Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Forward contracts | Foreign Currency Gain (Loss)
Derivatives, Fair Value [Line Items]
Gain (loss) on derivative instruments recognized in (loss) gain on foreign currency, net	$ 5,401	$ (373)	$ 802
Cross currency swaps | Foreign Currency Gain (Loss)
Derivatives, Fair Value [Line Items]
Gain (loss) on derivative instruments recognized in (loss) gain on foreign currency, net	7,647	(2,770)	8,416
Interest rate swaps | Interest Expense
Derivatives, Fair Value [Line Items]
Gain on interest rate swaps recognized in interest expense, net	$ 10,977	$ 11,110	$ 2,169

Derivative Financial Instrume_6

Derivative Financial Instruments - Cash Flow Hedge (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain recognized in other comprehensive (loss) income	$ 2,364	$ 3,141	$ 20,678
Gain reclassified from accumulated other comprehensive income into net income	$ 10,977	$ 11,110	$ 2,205

Segments - Segment Results (Det

Segments - Segment Results (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Segment sales	$ 1,537,617	$ 1,500,249	$ 1,437,229
Cost of merchandise sold, exclusive of depreciation and amortization	669,744	619,671	599,926
Salaries, wages and benefits	331,023	366,189	273,587
Selling, general and administrative	337,131	311,388	301,737
Depreciation and amortization	69,530	61,144	55,753
Operating income	130,189	141,857	206,226
Interest expense, net	(62,444)	(88,500)	(64,744)
Loss on foreign currency, net	(14,294)	6,660	(20,737)
Other income, net	71	3,688	4,576
Loss on extinguishment of debt	(4,088)	(16,626)	(1,023)
Income before income taxes	49,434	47,079	124,298
Operating Segments
Segment Reporting Information [Line Items]
Segment sales	1,419,552	1,385,756	1,330,341
Cost of merchandise sold, exclusive of depreciation and amortization	614,555	569,218	537,339
Salaries, wages and benefits	187,568	180,308	188,329
Selling, general and administrative	265,060	248,185	249,092
Total segment expenses	1,067,183	997,711	974,760
Segment profit	352,369	388,045	355,581
Segment Reconciling Items
Segment Reporting Information [Line Items]
General corporate expenses	188,709	224,616	126,997
Depreciation and amortization	69,530	61,144	55,753
U.S. Retail | Operating Segments
Segment Reporting Information [Line Items]
Segment sales	832,581	780,126	747,397
Cost of merchandise sold, exclusive of depreciation and amortization	375,417	336,164	317,537
Salaries, wages and benefits	117,034	107,670	109,272
Selling, general and administrative	152,897	138,146	138,924
Total segment expenses	645,348	581,980	565,733
Segment profit	187,233	198,146	181,664
Canada Retail | Operating Segments
Segment Reporting Information [Line Items]
Segment sales	586,971	605,630	582,944
Cost of merchandise sold, exclusive of depreciation and amortization	239,138	233,054	219,802
Salaries, wages and benefits	70,534	72,638	79,057
Selling, general and administrative	112,163	110,039	110,168
Total segment expenses	421,835	415,731	409,027
Segment profit	165,136	189,899	173,917
Australia Retail and Wholesale | Operating Segments
Segment Reporting Information [Line Items]
Segment sales	118,065	114,493	106,888
Australia Retail and Wholesale | Segment Reconciling Items
Segment Reporting Information [Line Items]
Segment profit	$ 36,059	$ 39,572	$ 33,395

Segments - Long-Lived Assets by

Segments - Long-Lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Long-lived assets	$ 863,565	$ 776,811
Net sales	1,537,617	1,500,249	$ 1,437,229
U.S.
Segment Reporting Information [Line Items]
Long-lived assets	527,126	453,446
Net sales	850,887	799,619	771,884
Canada
Segment Reporting Information [Line Items]
Long-lived assets	297,479	302,322
Net sales	602,257	622,690	598,451
Australia
Segment Reporting Information [Line Items]
Long-lived assets	38,960	21,043
Net sales	43,852	41,268	34,768
Rest of world
Segment Reporting Information [Line Items]
Net sales	$ 40,621	$ 36,672	$ 32,126

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Numerator
Net income	$ 29,030	$ 53,115	$ 84,720
Denominator
Basic weighted average shares outstanding (in shares)	160,911,000	151,027,000	141,561,000
Dilutive effect of employee stock options and awards (in shares)	5,795,000	5,129,000	4,488,000
Diluted weighted average shares outstanding  (in shares)	166,706,000	156,156,000	146,049,000
Net income per share
Basic (in usd per share)	$ 0.18	$ 0.35	$ 0.60
Diluted (in usd per share)	$ 0.17	$ 0.34	$ 0.58
Antidilutive securities excluded from computation of earnings per share (in shares)	3,100,000	800,000	600,000

Stock-Based Compensation - 2019

Stock-Based Compensation - 2019 Management Incentive Plan (Details) - Options - 2019 Management Incentive Plan - shares	Mar. 28, 2019	Dec. 28, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period	10 years
Number of options available for issuance (in shares)		0
Outstanding (in shares)		12,700,000

Stock-Based Compensation - Omni

Stock-Based Compensation - Omnibus Incentive Plan (Details) shares in Millions	12 Months Ended
	Dec. 28, 2024 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized (in shares)	15
Common stock reserved for future issuance (in shares)	14.6
Omnibus Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period	10 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 61.6	$ 72.6	$ 1.9
Stock-based compensation expense, tax benefit	$ 6	$ 7.2	$ 0.4

Stock-Based Compensation - Time

Stock-Based Compensation - Time-based options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized share-based compensation cost, period of recognition	2 years 11 months 4 days
Time-Based Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield assumption	0%
Weighted average grant date fair value of stock options awarded (in dollars per share)	$ 9.26	$ 6.01	$ 5.70
Options exercised	$ 21.8	$ 2.6	$ 0.9
Unrecognized compensation expense, options	$ 9.8
Time-Based Options | Time-based options one
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	1 year
Time-Based Options | Time-based options two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years
Time-Based Options | Time-based options three
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	5 years

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Assumptions for Time-based Options (Details) - Time-Based Options	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility, minimum	35.90%	35.40%	32.70%
Expected volatility, maximum	43%	35.70%	39.80%
Risk-free interest rate, minimum	3.90%	3.40%	1.80%
Risk-free interest rate, maximum	4.30%	4.20%	3.60%
Expected term (in years)		6 years 6 months	6 years 6 months
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	6 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	6 years 6 months

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Time-Based Options
Number of Options
Beginning, Outstanding (in shares)	7,530
Granted (in shares)	527
Exercised (in shares)	(1,420)
Forfeited or expired (in shares)	(691)
Ending, Outstanding (in shares)	5,946	7,530
Weighted Average Exercise Price Per Share
Beginning, outstanding, Weighted average exercise price per share (in usd per share)	$ 5.99
Granted, Weighted average exercise price per share (in usd per share)	19.08
Exercised, Weighted average exercise price per share (in usd per share)	2.23
Forfeited or expired, Weighted average exercise price per share (in usd per share)	14.52
Ending, outstanding, Weighted average exercise price per share (in usd per share)	$ 7.06	$ 5.99
Stock Options Additional Disclosures
Exercisable, Number of options (in shares)	3,900
Exercisable, Weighted average exercise price per share (in usd per share)	$ 3.77
Weighted Average Remaining Contractual Term (in Years)	6 years 3 months 18 days	6 years 11 months 4 days
Exercisable, Weighted average remaining contractual term	5 years 5 months 19 days
Aggregate Intrinsic Value	$ 29,842	$ 85,774
Exercisable, Aggregate intrinsic value	$ 27,419
Performance based options
Number of Options
Beginning, Outstanding (in shares)	7,948
Exercised (in shares)	(365)
Forfeited or expired (in shares)	(338)
Ending, Outstanding (in shares)	7,245	7,948
Weighted Average Exercise Price Per Share
Beginning, outstanding, Weighted average exercise price per share (in usd per share)	$ 2.05
Exercised, Weighted average exercise price per share (in usd per share)	1.66
Forfeited or expired, Weighted average exercise price per share (in usd per share)	1.61
Ending, outstanding, Weighted average exercise price per share (in usd per share)	$ 2.10	$ 2.05
Stock Options Additional Disclosures
Exercisable, Number of options (in shares)	3,516
Exercisable, Weighted average exercise price per share (in usd per share)	$ 2.12
Weighted Average Remaining Contractual Term (in Years)	5 years 25 days	5 years 9 months 10 days
Exercisable, Weighted average remaining contractual term	5 years 25 days
Aggregate Intrinsic Value	$ 59,455	$ 121,750
Exercisable, Aggregate intrinsic value	$ 28,813

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance-based options (Details) $ / shares in Units, shares in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jul. 31, 2023 $ / shares	Jul. 02, 2023 grantee	Dec. 28, 2024 USD ($) shares	Dec. 30, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense			$ 61,600,000	$ 72,600,000	$ 1,900,000
Unrecognized share-based compensation cost, period of recognition			2 years 11 months 4 days
Performance based options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting rights through term			25%
Options exercised			$ 4,100,000	$ 0	$ 0
Unrecognized compensation expense, options			$ 29,000,000
Unrecognized share-based compensation cost, period of recognition			1 year 6 months
Number of grantees affected by modified vesting terms | grantee		41
Performance based options | Black-Scholes-Merton Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield assumption			0%
Weighted average grant date fair value of stock options modified (in dollars per share) | $ / shares				$ 16.32	$ 13.51
Performance based options | Monte Carlo Simulation
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield assumption			0%
Weighted average grant date fair value of stock options modified (in dollars per share) | $ / shares	$ 21.18
Performance based options | Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period			3 years
Performance based options | Graded Vesting Basis
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense			$ 51,300,000	$ 38,800,000
Performance based options | IPO Vesting
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense				28,000,000
Performance based options | IPO | Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting rights through term			25%
Time-Based Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares) | shares			527
Dividend yield assumption			0%
Options exercised			$ 21,800,000	$ 2,600,000	$ 900,000
Unrecognized compensation expense, options			$ 9,800,000
Time-Based Options | Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period			1 year
Time-Based Options | Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period			3 years

Stock-Based Compensation - We_2

Stock-Based Compensation - Weighted Average Assumptions for Performance-based Options (Details) - Performance based options	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Black-Scholes-Merton Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	35.50%	35.10%
Risk-free interest rate	3.50%	3.80%
Expected term (in years)	6 years 6 months	6 years 6 months
Monte Carlo Simulation
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	35%
Risk-free interest rate, minimum	3.55%
Risk-free interest rate, maximum	3.74%
Minimum | Monte Carlo Simulation
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	3 years 1 month 6 days
Maximum | Monte Carlo Simulation
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	6 years 7 months 6 days

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units (Details) $ in Millions	12 Months Ended
	Dec. 28, 2024 USD ($)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized share-based compensation cost, period of recognition	2 years 11 months 4 days
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, excluding options	$ 12.4
Unrecognized share-based compensation cost, period of recognition	2 years 2 months 12 days
Minimum | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	1 year
Maximum | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years

Stock-Based Compensation - Re_2

Stock-Based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock Units shares in Thousands	12 Months Ended
	Dec. 28, 2024 $ / shares shares
Number of Units
Beginning, Outstanding (in shares) | shares	547
Granted (in shares) | shares	565
Vested (in shares) | shares	(186)
Forfeited (in shares) | shares	(87)
Ending, Outstanding (in shares) | shares	839
Weighted Average Grant-Date Fair Value Per Share
Beginning, Outstanding, Weighted average grant date fair value (in usd per share) | $ / shares	$ 22.81
Granted, Weighted average grant date fair value (in usd per share) | $ / shares	18.59
Vested, Weighted average grant date fair value (in usd per share) | $ / shares	22.66
Forfeited, Weighted average grant date fair value (in usd per share) | $ / shares	21.56
Ending, Outstanding, Weighted average grant date fair value (in usd per share) | $ / shares	$ 20.13

Share Repurchases (Details)

Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	2 Months Ended	12 Months Ended
	Feb. 21, 2025	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022	Nov. 30, 2023
Share Repurchase Program [Line Items]
Share repurchase program, authorized amount					$ 50,000
Repurchase of common stock (in shares)		3.2
Weighted average price (in dollars per share)		$ 9.95
Stock repurchased and retired during period, value		$ 31,900
Share repurchase program, remaining authorized, amount		18,100
Repurchase of common stock under share repurchase program		$ 31,674	$ 0	$ 0
Subsequent Event
Share Repurchase Program [Line Items]
Repurchase of common stock under share repurchase program	$ 300

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Income before income taxes	$ 49,434	$ 47,079	$ 124,298
U.S. operations
Operating Loss Carryforwards [Line Items]
U.S. operations	32,767	(2,940)	103,902
Foreign operations
Operating Loss Carryforwards [Line Items]
Foreign operations	$ 16,667	$ 50,019	$ 20,396

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Current:
U.S. - federal	$ 21,749	$ 8,280	$ 354
U.S. - state	5,579	6,232	3,279
Foreign	24,360	14,838	15,401
Deferred:
U.S. - federal	(18,733)	(19,480)	16,934
U.S. - state	(4,476)	(13,156)	4,074
Foreign	(8,075)	(2,750)	(464)
Income tax expense (benefit)	$ 20,404	$ (6,036)	$ 39,578

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 28, 2024	Dec. 30, 2023
Deferred tax assets:
Lease liability	$ 147,676	$ 129,486
Deferred interest	20,366	16,116
Deferred payroll	14,148	13,062
Unrealized foreign exchange loss	8,940	4,033
Sec. 267 deferred basis	8,466	8,493
Insurance reserves	5,141	4,935
Partnership tax deferral	4,601	0
Capitalized research and development	4,413	2,894
Net operating loss carryforwards	1,281	1,142
Other	6,430	3,653
Deferred tax assets, exclusive of valuation allowance	221,462	183,814
Less: valuation allowance	10,263	5,927
Deferred tax assets, net of valuation allowance	211,199	177,887
Deferred tax liabilities:
ROU lease asset	142,245	125,937
Trade names and trademarks	28,556	28,753
Property and equipment depreciation	17,197	19,407
Charity licensing agreements	10,490	12,418
Inventory	3,397	3,116
Leasehold interests	2,386	3,856
Unrealized foreign exchange gain	113	4,405
Partnership tax deferral	0	2,037
Other	3,014	5,867
Deferred tax liabilities	207,398	205,796
Deferred Tax Assets, Net	$ 3,801
Deferred tax assets (liabilities), net		$ (27,909)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Federal foreign tax credit	$ 300,000	$ 300,000
Federal R&D tax credit	0	0
Other federal tax credit	0	0
Valuation allowance	10,263,000	5,927,000
Partnership basis	0	0	$ 42,000,000
Tax impact of restructuring	0	31,340,000	$ 0
Deferred tax liability, amount not recognized	0
Canada
Income Tax Examination [Line Items]
Valuation allowance	6,700,000
Australia
Income Tax Examination [Line Items]
Valuation allowance	3,600,000
U.S. State
Income Tax Examination [Line Items]
Net operating loss carryforwards	$ 11,400,000	$ 11,500,000

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Tax expense at statutory rate	$ 10,381	$ 9,887	$ 26,103
Increase (decrease) in income taxes resulting from:
Change in valuation allowance	7,348	(2,996)	4,068
Section 162(m) limitation	6,648	11,229	0
Foreign rate differential	3,720	2,623	0
Withholding taxes	1,619	2,279	1,687
State taxes net of federal benefit	871	4,519	5,844
Tax impact of restructuring	0	(31,340)	0
Impact of foreign currency translations	(619)	(1)	(67)
Change in tax rate	(878)	4	0
Stock-based compensation	(1,130)	1,590	(140)
GILTI / FDII	(1,493)	(1,603)	(1,114)
Change in uncertain tax positions	(1,681)	0	0
Prior year true-up	(2,236)	4,205	(509)
Tax credits	(2,492)	(3,741)	(2,571)
Other	346	(2,691)	6,277
Income tax expense (benefit)	$ 20,404	$ (6,036)	$ 39,578

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Beginning gross unrecognized tax benefits	$ 1,912	$ 1,912	$ 1,912
Increase related to prior year tax position	138	0	0
Decrease related to prior year tax position	(1,819)	0	0
Ending gross unrecognized tax benefits	$ 231	$ 1,912	$ 1,912