Ingles Markets (IMKTA) 10-Q 7 May 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 28, 2020	May 05, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 28, 2020
Current Fiscal Year End Date	--09-26
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity File Number	0-14706
Entity Registrant Name	INGLES MARKETS INC
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	56-0846267
Entity Address, Address Line One	P.O. Box 6676
Entity Address, City or Town	Asheville
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28816
City Area Code	828
Local Phone Number	669-2941
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, $0.05 par value per share
Trading Symbol	IMKTA
Security Exchange Name	NASDAQ
Entity Central Index Key	0000050493
Amendment Flag	false
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		14,196,360
Class B Common Stock [Member]
Entity Common Stock, Shares Outstanding		6,063,416

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 28, 2020	Sep. 28, 2019
Current Assets:
Cash and cash equivalents	$ 144,972,233	$ 42,125,105
Receivables - net	82,273,244	71,951,303
Inventories	315,268,498	374,129,060
Other current assets	13,522,582	8,897,903
Total Current Assets	556,036,557	497,103,371
Property and Equipment – Net	1,342,672,327	1,344,267,315
Operating lease right of use assets	39,683,044
Other Assets	25,838,322	25,957,682
Total Assets	1,964,230,250	1,867,328,368
Current Liabilities:
Current portion of long-term debt	38,078,268	12,600,131
Current portion of operating lease liabilities	7,678,403
Accounts payable - trade	168,260,158	151,329,975
Accrued expenses and current portion of other long-term liabilities	80,850,156	83,649,283
Total Current Liabilities	294,866,985	247,579,389
Deferred Income Taxes	73,294,000	75,499,000
Long-Term Debt	803,977,294	839,637,691
Noncurrent operating lease liabilities	34,949,649
Other Long-Term Liabilities	51,317,259	41,889,682
Total Liabilities	1,258,405,187	1,204,605,762
Stockholders’ Equity
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued
Paid-in capital in excess of par value	12,311,249	12,311,249
Accumulated other comprehensive income	(9,639,291)	(1,265,650)
Retained earnings	702,140,116	650,664,018
Total Stockholders’ Equity	705,825,063	662,722,606
Total Liabilities and Stockholders’ Equity	1,964,230,250	1,867,328,368
Class A Common Stock [Member]
Stockholders’ Equity
Common stocks	709,668	709,024
Class B Common Stock [Member]
Stockholders’ Equity
Common stocks	$ 303,321	$ 303,965

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 28, 2020	Sep. 28, 2019
Preferred stock, par value	$ 0.05	$ 0.05
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Class A Common Stock [Member]
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	14,193,360	14,180,485
Common stock, shares outstanding	14,193,360	14,180,485
Class B Common Stock [Member]
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	6,066,416	6,079,291
Common stock, shares outstanding	6,066,416	6,079,291

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income And Other Comprehensive Income - USD ($)	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Net sales	$ 1,145,482,049	$ 1,001,843,929	$ 2,223,836,986	$ 2,063,680,587
Cost of goods sold	853,894,303	757,543,262	1,674,759,514	1,560,969,126
Gross profit	291,587,746	244,300,667	549,077,472	502,711,461
Operating and administrative expenses	228,395,420	216,466,382	450,374,270	435,151,046
Gain from sale or disposal of assets	108,352	2,911,704	3,072,837	2,649,113
Income from operations	63,300,678	30,745,989	101,776,039	70,209,528
Other income, net	207,441	447,914	404,928	1,343,373
Interest expense	10,183,839	11,996,863	22,133,125	24,208,524
Loss on early extinguishment of debt			(3,719,209)
Income before income taxes	53,324,280	19,197,040	76,328,633	47,344,377
Income tax expense	13,032,000	4,197,000	18,349,000	10,192,000
Net income	40,292,280	15,000,040	57,979,633	37,152,377
Other comprehensive expense:
Change in fair value of interest rate swap	(13,926,534)	(598,764)	(11,077,655)	(154,727)
Income tax benefit	3,401,000	139,316	2,704,014	35,618
Other comprehensive expense, net of tax	(10,525,534)	(459,448)	(8,373,641)	(119,109)
Comprehensive income	$ 29,766,746	$ 14,540,592	$ 49,605,992	$ 37,033,268
Class A Common Stock [Member]
Per share amounts:
Basic earnings per common share	$ 2.04	$ 0.76	$ 2.94	$ 1.88
Diluted earnings per common share	1.99	0.74	2.86	1.83
Cash dividends per common share	0.165	0.165	0.33	0.33
Class B Common Stock [Member]
Per share amounts:
Basic earnings per common share	1.86	0.69	2.68	1.71
Diluted earnings per common share	1.86	0.69	2.68	1.71
Cash dividends per common share	$ 0.150	$ 0.150	$ 0.30	$ 0.30

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Changes In Stockholders' Equity - USD ($)	Class A Common Stock [Member]Common Stock [Member]	Class B Common Stock [Member]Common Stock [Member]	Paid-in Capital in Excess of Par Value [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Balance at Sep. 29, 2018	$ 707,269	$ 305,720	$ 12,311,249		$ 582,089,570	$ 595,413,808
Balance (in shares) at Sep. 29, 2018	14,145,385	6,114,391
Net income					22,152,337	22,152,337
Other comprehensive (expense) income, net of income tax				$ 340,339		340,339
Cash dividends					(3,251,148)	(3,251,148)
Balance at Dec. 29, 2018	$ 707,269	$ 305,720	12,311,249	340,339	600,990,759	614,655,336
Balance (in shares) at Dec. 29, 2018	14,145,385	6,114,391
Balance at Sep. 29, 2018	$ 707,269	$ 305,720	12,311,249		582,089,570	595,413,808
Balance (in shares) at Sep. 29, 2018	14,145,385	6,114,391
Net income						37,152,377
Other comprehensive (expense) income, net of income tax						(119,109)
Balance at Mar. 30, 2019	$ 708,867	$ 304,122	12,311,249	(119,109)	612,739,647	625,944,776
Balance (in shares) at Mar. 30, 2019	14,177,335	6,082,441
Balance at Dec. 29, 2018	$ 707,269	$ 305,720	12,311,249	340,339	600,990,759	614,655,336
Balance (in shares) at Dec. 29, 2018	14,145,385	6,114,391
Net income					15,000,040	15,000,040
Other comprehensive (expense) income, net of income tax				(459,448)		(459,448)
Cash dividends					(3,251,152)	(3,251,152)
Common stock conversions	$ 1,598	$ (1,598)
Common stock conversions (in shares)	31,950	(31,950)
Balance at Mar. 30, 2019	$ 708,867	$ 304,122	12,311,249	(119,109)	612,739,647	625,944,776
Balance (in shares) at Mar. 30, 2019	14,177,335	6,082,441
Balance at Sep. 28, 2019	$ 709,024	$ 303,965	12,311,249	(1,265,650)	650,664,018	662,722,606
Balance (in shares) at Sep. 28, 2019	14,180,485	6,079,291
Net income					17,687,353	17,687,353
Other comprehensive (expense) income, net of income tax				2,151,893		2,151,893
Cash dividends					(3,251,673)	(3,251,673)
Common stock conversions	$ 625	$ (625)
Common stock conversions (in shares)	12,500	(12,500)
Balance at Dec. 28, 2019	$ 709,649	$ 303,340	12,311,249	886,243	665,099,698	679,310,179
Balance (in shares) at Dec. 28, 2019	14,192,985	6,066,791
Balance at Sep. 28, 2019	$ 709,024	$ 303,965	12,311,249	(1,265,650)	650,664,018	662,722,606
Balance (in shares) at Sep. 28, 2019	14,180,485	6,079,291
Net income						57,979,633
Other comprehensive (expense) income, net of income tax						(8,373,641)
Balance at Mar. 28, 2020	$ 709,668	$ 303,321	12,311,249	(9,639,291)	702,140,116	705,825,063
Balance (in shares) at Mar. 28, 2020	14,193,360	6,066,416
Balance at Dec. 28, 2019	$ 709,649	$ 303,340	12,311,249	886,243	665,099,698	679,310,179
Balance (in shares) at Dec. 28, 2019	14,192,985	6,066,791
Net income					40,292,280	40,292,280
Other comprehensive (expense) income, net of income tax				(10,525,534)		(10,525,534)
Cash dividends					(3,251,862)	(3,251,862)
Common stock conversions	$ 19	$ (19)
Common stock conversions (in shares)	375	(375)
Balance at Mar. 28, 2020	$ 709,668	$ 303,321	$ 12,311,249	$ (9,639,291)	$ 702,140,116	$ 705,825,063
Balance (in shares) at Mar. 28, 2020	14,193,360	6,066,416

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Cash Flows - USD ($)	6 Months Ended
	Mar. 28, 2020	Mar. 30, 2019
Cash Flows from Operating Activities:
Net income	$ 57,979,633	$ 37,152,377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	57,357,438	55,607,103
Non cash operating lease cost	5,332,302
Gain from sale or disposal of assets	(3,072,837)	(2,649,113)
Loss on early extinguishment of debt	3,719,209
Receipt of advance payments on purchases contracts	500,000	1,000,000
Recognition of advance payments on purchases contracts	(1,309,835)	(1,265,788)
Deferred income taxes	499,000	7,141,000
Changes in operating assets and liabilities:
Receivables	(10,321,941)	(3,531,623)
Inventory	58,860,562	6,440,232
Other assets	(4,505,320)	16,359,326
Operating lease liabilities	(5,516,359)
Accounts payable and accrued expenses	15,836,348	(8,041,671)
Net Cash Provided by Operating Activities	175,358,200	108,211,843
Cash Flows From Investing Activities:
Proceeds from sales of property and equipment	5,321,389	7,283,055
Capital expenditures	(56,824,266)	(94,219,647)
Net Cash Used by Investing Activities	(51,502,877)	(86,936,592)
Cash Flows from Financing Activities:
Proceeds from short-term borrowings		300,186,059
Payments on short-term borrowings		(299,504,655)
Debt issuance costs	(854,793)
Proceeds from new long term debt	155,000,000
Principal payments on long-term borrowings	(165,678,517)	(9,310,958)
Prepayment penalties on debt extinguishment	(2,971,350)
Dividends paid	(6,503,535)	(6,502,300)
Net Cash Used by Financing Activities	(21,008,195)	(15,131,854)
Net Increase in Cash and Cash Equivalents	102,847,128	6,143,397
Cash and cash equivalents at beginning of period	42,125,105	10,537,303
Cash and Cash Equivalents at End of Period	$ 144,972,233	$ 16,680,700

Basis Of Preparation

Basis Of Preparation	6 Months Ended
	Mar. 28, 2020
Basis Of Preparation [Abstract]
Basis Of Preparation	A. BASIS OF PREPARATION  In the opinion of management, the accompanying unaudited interim financial statements contain all adjustments necessary to present fairly the Company’s financial position as of March 28, 2020, and the results of operations and changes in stockholders’ equity for the three-month and six-month periods ended March 28, 2020 and March 30, 2019, and cash flows for the six months ended March 28, 2020 and March 30, 2019. The adjustments made are of a normal recurring nature. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. It is suggested that these unaudited interim financial statements be read in conjunction with the audited financial statements and the notes thereto included in the Annual Report on Form 10-K for the year ended September 28, 2019, filed by the Company under the Securities Exchange Act of 1934 on December 10, 2019. The results of operations for the three-month and six-month periods ended March 28, 2020 are not necessarily indicative of the results to be expected for the full fiscal year. 

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Mar. 28, 2020
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	B. NEW ACCOUNTING PRONOUNCEMENTS  On September 29, 2019, the Company adopted Financial Accounting Standards Board Accounting Standards Update ASU 2016-02, “Leases” (ASU 2016-02), which requires the Company as lessee to recognize most leases on the balance sheet thereby resulting in the recognition of right of use assets and lease liabilities for those leases currently classified as operating leases. The accounting for leases where the Company is the lessor remains largely unchanged. As both lessee and lessor, the Company adopted the standard utilizing the transition election to not restate comparative periods for the impact of adopting the standard. The Company elected the practical expedient related to leases of twelve months or less. The Company elected the package of transition expedients available for expired or existing contracts, which allowed the carryforward of historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs.  The adoption of ASU 2016-02 resulted in the recognition of operating lease assets of $45.0 million and operating lease liabilities of $48.1 million, respectively as of September 29, 2019. Included in the measurement of the new lease assets is the reclassification of certain balances historically recorded as deferred rent and lease obligations for closed stores. The adoption of ASU 2016-02 did not materially affect the Company’s consolidated net income or cash flows.  See Note I for additional information required by ASU 2016-02. 

Allowance For Doubtful Accounts

Allowance For Doubtful Accounts	6 Months Ended
	Mar. 28, 2020
Allowance For Doubtful Accounts [Abstract]
Allowance For Doubtful Accounts	C. ALLOWANCE FOR DOUBTFUL ACCOUNTS Receivables are presented net of an allowance for doubtful accounts of $325,000 at March 28, 2020 and $156,000 at September 28, 2019. 

Income Taxes

Income Taxes	6 Months Ended
	Mar. 28, 2020
Income Taxes [Abstract]
Income Taxes	D. INCOME TAXES  The Company’s effective tax rate differs from the federal statutory rate primarily as a result of state income taxes and tax credits.  The Company has unrecognized tax benefits and could incur interest and penalties related to uncertain tax positions. These amounts are insignificant and are not expected to significantly increase or decrease within the next twelve months. 

Accrued Expenses And Current Po

Accrued Expenses And Current Portion Of Other Long-Term Liabilities	6 Months Ended
	Mar. 28, 2020
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Accrued Expenses And Current Portion Of Other Long-Term Liabilities	E. ACCRUED EXPENSES AND CURRENT PORTION OF OTHER LONG-TERM LIABILITIES Accrued expenses and current portion of other long-term liabilities consist of the following:     March 28, September 28,  2020 2019  Property, payroll and other taxes payable $ 16,195,765 $ 20,273,626  Salaries, wages and bonuses payable 35,907,085 31,861,220  Self-insurance liabilities 13,620,261 13,146,292  Interest payable 11,011,503 13,342,260  Other 4,115,542 5,025,885  $ 80,850,156 $ 83,649,283  Self-insurance liabilities are established for general liability claims, workers’ compensation and employee group medical and dental benefits based on claims filed and estimates of claims incurred but not reported. Effective October 1, 2019, the Company is insured for covered costs in excess of $1.0 million per occurrence for workers’ compensation and for general liability and $450,000 per covered person for medical care benefits for a policy year. The Company’s self-insurance reserves totaled $33.6 million and $31.0 million at March 28, 2020 and September 28, 2019, respectively. Of this amount, $13.6 million is accounted for as a current liability and $20.0 million as a long-term liability, which is inclusive of $ 5.4 million of expected self-insurance recoveries from excess cost insurance or other sources that are recorded as a receivable at March 28, 2020. At September 28, 2019, $13.1 million is accounted for as a current liability and $17.9 million as a long-term liability, which is inclusive of $3.6 million of expected self-insurance recoveries from excess cost insurance or other sources that are recorded as a receivable. Employee insurance expense, including workers’ compensation and medical care benefits, net of employee contributions, totaled $7.8 million and $9. 4 million for the three-month periods ended March 28, 2020 and March 30, 2019, respectively. For the six-month periods ended March 28, 2020 and March 30, 2019 employee insurance expense, net of employee contributions totaled $18.3 million and $19.6 million, respectively.  The Company’s fuel operations contain underground tanks for the storage of gasoline and diesel fuel. The Company reviewed FASB Accounting Standards Codification Topic 410 (“FASB ASC 410”) and determined we have a legal obligation to remove tanks at a point in the future and accordingly determined we have met the requirements of an asset retirement obligation. The Company followed the FASB ASC 410 model for determining the asset retirement cost and asset retirement obligation. The amounts recorded are immaterial for each fuel center as well as in the aggregate at March 28, 2020 and September 28, 2019.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Mar. 28, 2020
Long-Term Debt [Abstract]
Long-Term Debt	F. LONG-TERM DEBT In June 2013, the Company issued $ 700.0 million aggregate principal amount of senior notes due in 2023 (the “Notes”). The Notes bear an interest rate of 5.750% per annum and were issued at par.  The Company may redeem all or a portion of the Notes at any time at the following redemption prices (expressed as percentages of the principal amount), if redeemed during the 12-month period beginning June 15 of the years indicated below:     Year  2018 102.875%  2019 101.917%  2020 100.958%  2021 and thereafter 100.000%  In November 2019, the Company closed a $155 million ten -year amortizing real estate loan (the “Loan”) and issued notice to redeem a like principal amount of the Notes. The Loan was funded and the Notes were redeemed thirty days after the redemption notice in December 2019. The Notes were redeemed at 101.917% of par value, and the Company recognized debt extinguishment costs of approximately $3.7 million during the quarter ended December 28, 2019. The Loan matures January 31, 2030 and has monthly principal payments of $0.65 million plus floating rate interest based on LIBOR.  The Company has a $175.0 million line of credit (the “Line”) that matures in S eptember 2022 . The Line provides the Company with various interest rate options based on the prime rate, the Federal Funds Rate, or the London Interbank Offering Rate (“LIBOR”). The Line allows the Company to issue up to $20.0 million in unused letters of credit, of which $9.1 million of unused letters of credit were issued at March 28, 2020. The Company is not required to maintain compensating balances in connection with the Line. At March 28, 2020, the Company had no borrowings outstanding under the Line.  In December 2010, the Company completed the funding of $99.7 million of bonds (the “ Bonds”) for construction of new warehouse and distribution space adjacent to its existing space in Buncombe County, North Carolina (the “Project”). The final maturity date of the Bonds is January 1, 2036 . Under a Continuing Covenant and Collateral Agency Agreement (the “Covenant Agreement”) between certain financial institutions and the Company, the financial institutions would hold the Bonds until September 2026, subject to certain events. Mandatory redemption of the Bonds by the Company in the annual amount of $4.5 million began on January 1, 2014 . The Company may redeem the Bonds without penalty or premium at any time prior to September 26, 2026 . Interest earned by bondholders on the Bonds is exempt from Federal and North Carolina income taxation. The interest rate on the Bonds is equal to one-month LIBOR (adjusted monthly) plus a credit spread, adjusted to reflect the income tax exemption.  The Company’s obligation to repay the Bonds is collateralized by the Project. Additional collateral was required in order to meet certain loan to value criteria in the Covenant Agreement. The Covenant Agreement incorporates substantially all financial covenants included in the Line.  The Company has an interest rate swap agreement for a current notional amount of $45.5 million at a fixed rate of 3.92% . Under this agreement, the Company pays monthly the fixed rate of 3.92% and receives the one-month LIBOR plus 1.65% . The interest rate swap effectively hedges floating rate debt in the same amount as the current notional amount of the interest swap. Both the floating rate debt and the interest rate swap have monthly principal amortization of $0.5 million and mature October 1, 2027 .  The Company has an interest rate swap agreement for a current notional amount of $151.8 million at a fixed rate of 2.95% . Under this agreement, the Company pays monthly the fixed rate of 2.95% and receives the one-month LIBOR plus 1.50% . The interest rate swap effectively hedges floating rate debt in the same amount as the current notional amount of the interest swap. Both the floating rate debt and the interest rate swap have monthly principal amortization of $0.65 million and mature in fiscal year 2030. The Company recognizes differences between the variable rate interest payments and the fixed interest rate settlements with the swap counterparties as an adjustment to interest expense each period over the life of the swaps. The Company has designated the swaps as cash flow hedges and records the changes in the estimated fair value of the swaps to other comprehensive income each period. For the three- and six-month periods ended March 28, 2020, the Company recorded $10.5 million and $8.4 million of other comprehensive expense, respectively, net of income taxes, in its Consolidated Statements of Comprehensive income. Unrealized losses of $12.8 million are recorded as a liability at fair value in the line “Other Long Term Liabilities” on the Consolidated Balance Sheet as of March 28, 2020. For the three- and six-month periods ended March 30, 2019, the Company recorded $0.5 million and $0.1 million of other comprehensive expense, respectively, net of income taxes, in its Consolidated Statements of Comprehensive income. Unrealized losses of $0.1 million are recorded as a liability at fair value in the line “Other Long Term Liabilities” on the Consolidated Balance Sheet as of March 30, 2019.  The Company’s long-term debt agreements generally contain provisions that under certain circumstances would permit lending institutions to terminate or withdraw their respective extensions of credit to the Company. Included among the triggering factors permitting the termination or withdrawal of the Line to the Company are certain events of default, including both monetary and non-monetary defaults, the initiation of bankruptcy or insolvency proceedings, and the failure of the Company to meet certain financial covenants designated in its respective loan documents. The Company was in compliance with all financial covenants at March 28, 2020.  The Company’s long-term debt agreements generally have cross-default provisions which could result in the acceleration of payments due under all long-term debt agreements in the event of default under any one instrument.  At March 28, 2020, property and equipment with an undepreciated cost of approximately $363.5 million was pledged as collateral for long-term debt. Long-term debt and Line agreements contain various restrictive covenants requiring, among other things, minimum levels of net worth and maintenance of certain financial ratios. At March 28, 2020, the Company had excess net worth totaling $ 143.4 million calculated under covenants in the Notes, the Bonds, the Loan, and the Line. This amount is available to pay dividends; however, certain loan agreements containing provisions outlining minimum tangible net worth requirements restrict the ability of the Company to pay cash dividends in excess of the current annual per share dividends paid on the Company’s Class A and Class B Common Stock. Further, the Company is prevented from paying cash dividends at any time that it is in default under the indenture governing the Notes. In addition, the terms of the indenture may restrict the ability of the Company to pay additional cash dividends based on certain financial parameters.

Dividends

Dividends	6 Months Ended
	Mar. 28, 2020
Dividends [Abstract]
Dividends	G. DIVIDENDS The Company paid cash dividends of $0.165 for each share of Class A Common Stock and $0.15 for each share of Class B Common Stock on October 17, 2019 to stockholders of record on October 10, 2019 .  The Company paid cash dividends of $0.165 for each share of Class A Common Stock and $0.15 for each share of Class B Common Stock on January 16, 2020 to stockholders of record on January 9, 2020 .  For additional information regarding the dividend rights of the Class A Common Stock and Class B Common Stock, please see Note 8, “Stockholders’ Equity” to the Consolidated Financial Statements of the Annual Report on Form 10-K filed by the Company under the Securities Exchange Act of 1934 on December 10, 2019. 

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Mar. 28, 2020
Earnings Per Common Share [Abstract]
Earnings Per Common Share	H. EARNINGS PER COMMON SHARE  The Company has two classes of common stock: Class A which is publicly traded, and Class B, which has no public market. The Class B Common Stock has restrictions on transfer; however, each share is convertible into one share of Class A Common Stock at any time . Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share . Each share of Class A Common Stock is entitled to receive cash dividends equal to 110% of any cash dividend paid on Class B Common Stock.  The Company calculates earnings per share using the two-class method in accordance with FASB ASC Topic 260.  The two-class method of computing basic earnings per share for each period reflects the cash dividends declared per share for each class of stock, plus allocated undistributed earnings per share computed using the participation percentage which reflects the dividend rights of each class of stock. Diluted earnings per share is calculated assuming the conversion of all shares of Class B Common Stock to shares of Class A Common Stock on a share-for-share basis. The tables below reconcile the numerators and denominators of basic and diluted earnings per share for current and prior periods.     Three Months Ended Six Months Ended  March 28, 2020 March 28, 2020  Class A Class B Class A Class B  Numerator: Allocated net income  Net income allocated, basic $ 29,017,203 $ 11,275,077 $ 41,740,166 $ 16,239,467  Conversion of Class B to Class A shares 11,275,077 — 16,239,467 —  Net income allocated, diluted $ 40,292,280 $ 11,275,077 $ 57,979,633 $ 16,239,467   Denominator: Weighted average shares outstanding  Weighted average shares outstanding, basic 14,193,290 6,066,486 14,187,986 6,071,790  Conversion of Class B to Class A shares 6,066,486 — 6,071,790 —  Weighted average shares outstanding, diluted 20,259,776 6,066,486 20,259,776 6,071,790   Earnings per share  Basic $ 2.04 $ 1.86 $ 2.94 $ 2.68  Diluted $ 1.99 $ 1.86 $ 2.86 $ 2.68      Three Months Ended Six Months Ended  March 30, 2019 March 30, 2019  Class A Class B Class A Class B  Numerator: Allocated net income  Net income allocated, basic $ 10,773,567 $ 4,226,473 $ 26,678,194 $ 10,474,183  Conversion of Class B to Class A shares 4,226,473 — 10,474,183 —  Net income allocated, diluted $ 15,000,040 $ 4,226,473 $ 37,152,377 $ 10,474,183   Denominator: Weighted average shares outstanding  Weighted average shares outstanding, basic 14,154,424 6,105,352 14,149,904 6,109,872  Conversion of Class B to Class A shares 6,105,352 — 6,109,872 —  Weighted average shares outstanding, diluted 20,259,776 6,105,352 20,259,776 6,109,872   Earnings per share  Basic $ 0.76 $ 0.69 $ 1.88 $ 1.71  Diluted $ 0.74 $ 0.69 $ 1.83 $ 1.71 

Leases

Leases	6 Months Ended
	Mar. 28, 2020
Leases [Abstract]
Leases	     I. LEASES  Leases as Lessee  The Company conducts part of its retail operations from leased facilities. The initial terms of the leases are generally 20 years. The majority of the leases include one or more renewal options and provide that the Company pay property taxes, utilities, repairs and certain other costs incidental to occupation of the premises. Several leases contain clauses calling for percentage rentals based upon gross sales of the supermarket occupying the leased space. Step rent provisions, escalation clauses and lease incentives are taken into account in computing minimum lease payments.  Operating lease cost for all operating leases totaled $2.3 million for the three months ended March 28,2020 and $5.0 million for the six- months ending March 28, 2020. This amount includes short-term (less than one year) leases , common area expenses and variable lease costs, which are insignificant. Sublease income of $0.2 million is included as a reduction of operating lease cost. Cash paid for lease liabilities in operating activities approximates operating lease cost.  Maturities of operating lease liabilities as of March 28, 2020 are as follows:     Fiscal Year  Remainder of 2020 $ 4,993,363  2021 7,820,804  2022 7,408,458  2023 5,302,279  2024 2,908,072  Thereafter 27,187,517  Total lease payments $ 55,620,493  Less amount representing interest 12,992,441  Present value of lease liabilities $ 42,628,052  The weighted average remaining lease term for the Company’s operating leases is 14.3 years. The weighted average discount rate used to determine lease liability balances as of March 28, 2020 is 3.51% , based on recent Company financings collateralized by store properties.  Prior Period Disclosures – Lessee  As a result of the adoption of ASU 2016-02 on September 29, 2019 the Company is required to present future minimum lease payments for operating leases having initial or remaining non-cancelable lease terms in excess of one year. These future minimum lease payments were previously disclosed in our 2019 Annual Report on Form 10-K and accounted for under previous lease guidance. Commitments as of September 28, 2019 were as follows :    Fiscal Year  2020 $ 9,756,136  2021 7,532,373  2022 6,692,661  2023 4,907,148  2024 2,583,629  Thereafter 27,187,519  Total minimum future rental commitments $ 58,659,466  Leases as Lessor  At September 28, 2019, the Company owned and operated 79 shopping centers in conjunction with its supermarket operations. The Company leases to others a portion of its shopping center properties. The leases are non-cancelable operating lease agreements for periods ranging up to 20 years.  Rental income is included in the line item “Net sales” on the Consolidated Statements of Income. Depreciation on owned properties leased to others and other shopping center expenses are included in the line item “Cost of goods sold” on the Consolidated Statements of Income.    Three Months Ended Six Months Ended  March 28, 2020 March 28, 2020  Rents earned on owned and subleased properties:  Base rentals $ 4,144,319 $ 7,964,639  Variable rentals 69,665 139,330  Total 4,213,984 8,103,969  Depreciation on owned properties leased to others (1,328,968) (2,657,936)  Other shopping center expenses (899,763) (1,750,748)  Total $ 1,985,253 $ 3,695,285  Future minimum operating lease receipts at March 28, 2020 are as follows:    Fiscal Year  Remainder of 2020 $ 5,880,856  2021 10,170,740  2022 8,279,676  2023 7,189,842  2024 6,369,072  Thereafter 15,419,999  Total minimum future rental income $ 53,310,185  Prior Period Disclosures – Lessor  As a result of the adoption of ASU 2016-02 on September 29, 2019 the Company is required to present future minimum operating lease income receipts for operating leases having initial or remaining non-cancelable lease terms in excess of one year. These future minimum lease payments were previously disclosed in our 2019 Annual Report on Form 10-K and accounted for under previous lease guidance. Future minimum operating lease receipts as of September 28, 2019 were as follows:    Fiscal Year  2020 $ 11,265,775  2021 8,855,781  2022 6,967,583  2023 5,862,260  2024 5,145,632  Thereafter 13,723,315  Total minimum future rental income $ 51,820,346 

Segment Information

Segment Information	6 Months Ended
	Mar. 28, 2020
Segment Information [Abstract]
Segment Information	J. SEGMENT INFORMATION The Company operates one primary business segment, retail grocery sales. “Other” includes our remaining operations - fluid dairy and shopping center rentals. Information about the Company’s operations by lines of business (amounts in thousands) is as follows:     Three Months Ended Six Months Ended  March 28, March 30, March 28, March 30,  2020 2019 2020 2019  Revenues from unaffiliated customers:  Grocery $ 424,664 $ 351,558 $ 802,993 $ 727,197  Non-foods 260,914 223,067 506,945 455,564  Perishables 304,105 267,565 584,910 542,960  Gasoline 121,932 127,985 261,044 274,496  Total Retail $ 1,111,615 $ 970,175 $ 2,155,892 $ 2,000,217  Other 33,867 31,669 67,945 63,464  Total revenues from unaffiliated customers $ 1,145,482 $ 1,001,844 $ 2,223,837 $ 2,063,681   Income from operations:  Retail $ 58,069 $ 26,434 $ 92,290 $ 62,051  Other 5,232 4,312 9,486 8,159  Total income from operations $ 63,301 $ 30,746 $ 101,776 $ 70,210     March 28, September 28,  2020 2019  Assets:  Retail $ 1,792,303 $ 1,698,904  Other 175,195 170,720  Elimination of intercompany receivable (3,268) (2,296)  Total assets $ 1,964,230 $ 1,867,328   The grocery category includes grocery, dairy, and frozen foods. The non-foods category include s alcoholic beverages, tobacco, pharmacy, and health/beauty/cosmetic products. The perishables category includes meat, produce, deli and bakery.  For the three-month periods ended March 28, 2020 and March 30, 2019, respectively, the fluid dairy operation had $12.3 million and $10.2 million in sales to the grocery sales segment. The fluid dairy had $23.8 million and $21.2 million in sales to the retail grocery segment for the six-month periods ended March 28, 2020 and March 30, 2019, respectively. These sales have been eliminated in consolidation and are excluded from the amounts in the table above.

Fair Values Of Financial Instru

Fair Values Of Financial Instruments	6 Months Ended
	Mar. 28, 2020
Fair Values Of Financial Instruments [Abstract]
Fair Values Of Financial Instruments	K. FAIR VALUES OF FINANCIAL INSTRUMENTS  The carrying amounts for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments.  The fair value of the Company’s debt and interest rate swaps are estimated using valuation techniques under the accounting guidance related to fair value measurements based on observable and unobservable inputs. Observable inputs reflect readily available data from independent sources, while unobservable inputs reflect the Company’s market assumptions. These inputs are classified into the following hierarchy:   Level 1 Inputs – Quoted prices for identical assets or liabilities in active markets.  Level 2 Inputs – Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.  Level 3 Inputs – Pricing inputs are unobservable for the assets or liabilities and include situations where there is little, if any, market activity for the assets or liabilities. The inputs into the determination of fair value require significant management judgment or estimation.  The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified retirement plan assets at March 28, 2020 are as follows (in thousands):     Carrying Fair Value  Amount Fair Value Measurements  Senior Notes $ 545,000 $ 517,069 Level 2  Facility Bonds 68,030 68,030 Level 2  Secured notes payable and other 229,026 229,026 Level 2  Interest rate swap derivative contracts 12,752 12,752 Level 2  Non-qualified retirement plan assets 13,666 13,666 Level 2  The fair values for Level 2 measurements were determined primarily using market yields and taking into consideration the underlying terms of the instrument.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Mar. 28, 2020
Commitments And Contingencies [Abstract]
Commitments And Contingencies	L. COMMITMENTS AND CONTINGENCIES  Various legal proceedings and claims arising in the ordinary course of business are pending against the Company. In the opinion of management, the ultimate liability, if any, from all pending legal proceedings and claims will not materially affect the Company’s financial position, the results of its operations, or its cash flows. 

Related Party Transactions

Related Party Transactions	6 Months Ended
	Mar. 28, 2020
Related Party Transactions [Abstract]
Related Party Transactions	M. RELATED PARTY TRANSACTIONS  In November 2019, the Company sold two land parcels for $4.3 million to a limited liability corporation having Robert P. Ingle II, the Company’s Chairman of the Board, as one of its principals with a financial interest in the transaction. In accordance with the Company’s Related Party Transaction policy, independent fair market value appraisals were obtained to determine the selling price, and the Company’s Audit Committee approved the transactions. 

Accrued Expenses And Current _2

Accrued Expenses And Current Portion Of Other Long-Term Liabilities (Tables)	6 Months Ended
	Mar. 28, 2020
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Accrued Expenses And Current Portion Of Other Long-Term Liabilities	   March 28, September 28,  2020 2019  Property, payroll and other taxes payable $ 16,195,765 $ 20,273,626  Salaries, wages and bonuses payable 35,907,085 31,861,220  Self-insurance liabilities 13,620,261 13,146,292  Interest payable 11,011,503 13,342,260  Other 4,115,542 5,025,885  $ 80,850,156 $ 83,649,283 

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Mar. 28, 2020
Long-Term Debt [Abstract]
Schedule Of Redemption Prices Of Senior Notes	   Year  2018 102.875%  2019 101.917%  2020 100.958%  2021 and thereafter 100.000% 

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Mar. 28, 2020
Earnings Per Common Share [Abstract]
Reconciliation Of Numerators And Denominators Of Basic And Diluted Earnings Per Share	 Three Months Ended Six Months Ended  March 28, 2020 March 28, 2020  Class A Class B Class A Class B  Numerator: Allocated net income  Net income allocated, basic $ 29,017,203 $ 11,275,077 $ 41,740,166 $ 16,239,467  Conversion of Class B to Class A shares 11,275,077 — 16,239,467 —  Net income allocated, diluted $ 40,292,280 $ 11,275,077 $ 57,979,633 $ 16,239,467   Denominator: Weighted average shares outstanding  Weighted average shares outstanding, basic 14,193,290 6,066,486 14,187,986 6,071,790  Conversion of Class B to Class A shares 6,066,486 — 6,071,790 —  Weighted average shares outstanding, diluted 20,259,776 6,066,486 20,259,776 6,071,790   Earnings per share  Basic $ 2.04 $ 1.86 $ 2.94 $ 2.68  Diluted $ 1.99 $ 1.86 $ 2.86 $ 2.68      Three Months Ended Six Months Ended  March 30, 2019 March 30, 2019  Class A Class B Class A Class B  Numerator: Allocated net income  Net income allocated, basic $ 10,773,567 $ 4,226,473 $ 26,678,194 $ 10,474,183  Conversion of Class B to Class A shares 4,226,473 — 10,474,183 —  Net income allocated, diluted $ 15,000,040 $ 4,226,473 $ 37,152,377 $ 10,474,183   Denominator: Weighted average shares outstanding  Weighted average shares outstanding, basic 14,154,424 6,105,352 14,149,904 6,109,872  Conversion of Class B to Class A shares 6,105,352 — 6,109,872 —  Weighted average shares outstanding, diluted 20,259,776 6,105,352 20,259,776 6,109,872   Earnings per share  Basic $ 0.76 $ 0.69 $ 1.88 $ 1.71  Diluted $ 0.74 $ 0.69 $ 1.83 $ 1.71 

Leases (Tables)

Leases (Tables)	6 Months Ended
	Mar. 28, 2020
Leases [Abstract]
Maturities Of Operating Lease Liabilities	   Fiscal Year  Remainder of 2020 $ 4,993,363  2021 7,820,804  2022 7,408,458  2023 5,302,279  2024 2,908,072  Thereafter 27,187,517  Total lease payments $ 55,620,493  Less amount representing interest 12,992,441  Present value of lease liabilities $ 42,628,052 
Future Minimum Operating Lease Payments Prior To Adoption Of ASU 2016-02	  Fiscal Year  2020 $ 9,756,136  2021 7,532,373  2022 6,692,661  2023 4,907,148  2024 2,583,629  Thereafter 27,187,519  Total minimum future rental commitments $ 58,659,466 
Schedule Of Rental Income	  Three Months Ended Six Months Ended  March 28, 2020 March 28, 2020  Rents earned on owned and subleased properties:  Base rentals $ 4,144,319 $ 7,964,639  Variable rentals 69,665 139,330  Total 4,213,984 8,103,969  Depreciation on owned properties leased to others (1,328,968) (2,657,936)  Other shopping center expenses (899,763) (1,750,748)  Total $ 1,985,253 $ 3,695,285 
Future Minimum Operating Lease Receipts	  Fiscal Year  Remainder of 2020 $ 5,880,856  2021 10,170,740  2022 8,279,676  2023 7,189,842  2024 6,369,072  Thereafter 15,419,999  Total minimum future rental income $ 53,310,185 
Future Minimum Operating Lease Receipts Prior To Adoption Of ASU 2016-02	  Fiscal Year  2020 $ 11,265,775  2021 8,855,781  2022 6,967,583  2023 5,862,260  2024 5,145,632  Thereafter 13,723,315  Total minimum future rental income $ 51,820,346 

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Mar. 28, 2020
Segment Information [Abstract]
Operations By Lines Of Business	    Three Months Ended Six Months Ended  March 28, March 30, March 28, March 30,  2020 2019 2020 2019  Revenues from unaffiliated customers:  Grocery $ 424,664 $ 351,558 $ 802,993 $ 727,197  Non-foods 260,914 223,067 506,945 455,564  Perishables 304,105 267,565 584,910 542,960  Gasoline 121,932 127,985 261,044 274,496  Total Retail $ 1,111,615 $ 970,175 $ 2,155,892 $ 2,000,217  Other 33,867 31,669 67,945 63,464  Total revenues from unaffiliated customers $ 1,145,482 $ 1,001,844 $ 2,223,837 $ 2,063,681   Income from operations:  Retail $ 58,069 $ 26,434 $ 92,290 $ 62,051  Other 5,232 4,312 9,486 8,159  Total income from operations $ 63,301 $ 30,746 $ 101,776 $ 70,210     March 28, September 28,  2020 2019  Assets:  Retail $ 1,792,303 $ 1,698,904  Other 175,195 170,720  Elimination of intercompany receivable (3,268) (2,296)  Total assets $ 1,964,230 $ 1,867,328 

Fair Values Of Financial Inst_2

Fair Values Of Financial Instruments (Tables)	6 Months Ended
	Mar. 28, 2020
Fair Values Of Financial Instruments [Abstract]
Carrying Amount And Fair Value Of Debt, Interest Rate Swap And Non-Qualified Plan Assets	   Carrying Fair Value  Amount Fair Value Measurements  Senior Notes $ 545,000 $ 517,069 Level 2  Facility Bonds 68,030 68,030 Level 2  Secured notes payable and other 229,026 229,026 Level 2  Interest rate swap derivative contracts 12,752 12,752 Level 2  Non-qualified retirement plan assets 13,666 13,666 Level 2 

New Accounting Pronouncements (

New Accounting Pronouncements (Narrative) (Details) - USD ($)	Mar. 28, 2020	Sep. 29, 2019
Right of use assets	$ 39,683,044
Operating lease liabilities	$ 42,628,052
Accounting Standards Update 2016-02 [Member]
Right of use assets		$ 45,000,000
Operating lease liabilities		$ 48,100,000

Allowance For Doubtful Accoun_2

Allowance For Doubtful Accounts (Narrative) (Details) - USD ($)	Mar. 28, 2020	Sep. 28, 2019
Allowance For Doubtful Accounts [Abstract]
Allowance for doubtful accounts receivable	$ 325,000	$ 156,000

Accrued Expenses And Current _3

Accrued Expenses And Current Portion Of Other Long-Term Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019	Oct. 01, 2019	Sep. 28, 2019
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Workers' compensation per occurrence covered under insurance cost					$ 1,000
Medical care benefits per person covered under insurance cost					$ 450
Self insurance liabilities	$ 33,600		$ 33,600			$ 31,000
Self insurance liabilities, current	13,600		13,600			13,100
Self insurance liabilities, noncurrent	20,000		20,000			17,900
Receivable for expected self-insurance recoveries from excess cost insurance	5,400		5,400			$ 3,600
Employee insurance expense	$ 7,800	$ 9,400	$ 18,300	$ 19,600

Accrued Expenses And Current _4

Accrued Expenses And Current Portion Of Other Long-Term Liabilities (Accrued Expenses And Current Portion Of Other Long-Term Liabilities) (Details) - USD ($)	Mar. 28, 2020	Sep. 28, 2019
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Property, payroll and other taxes payable	$ 16,195,765	$ 20,273,626
Salaries, wages and bonuses payable	35,907,085	31,861,220
Self-insurance liabilities	13,620,261	13,146,292
Interest payable	11,011,503	13,342,260
Other	4,115,542	5,025,885
Total	$ 80,850,156	$ 83,649,283

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Nov. 01, 2019	Mar. 28, 2020	Dec. 28, 2019	Mar. 30, 2019	Dec. 29, 2018	Mar. 28, 2020	Mar. 30, 2019	Nov. 30, 2019	Sep. 28, 2019	Jun. 30, 2013	Dec. 31, 2010
Debt Instrument [Line Items]
Loss on early extinguishment of debt						$ (3,719,209)
Other comprehensive income, net of tax		$ (10,525,534)	$ 2,151,893	$ (459,448)	$ 340,339	(8,373,641)	$ (119,109)
Other Assets		25,838,322				25,838,322			$ 25,957,682
Annual amount of redemption of bonds		4,500,000				$ 4,500,000
Mandatory bonds redemption beginning period						Jan. 1, 2014
Mandatory bonds redemption period end date						Sep. 26, 2026
Payment of debt extinguishment costs						$ 2,971,350
Other comprehensive expense net of income taxes		(13,926,534)		(598,764)		(11,077,655)	(154,727)
Property and equipment with undepreciated cost pledge as collateral for long term debt		363,500,000				363,500,000
Excess net worth calculated under covenants in the Notes, the Bonds, and the Line		143,400,000				143,400,000
Interest Rate Swap Two [Member]
Debt Instrument [Line Items]
Derivative notional amount		$ 151,800,000				$ 151,800,000
Derivative, fixed interest rate		2.95%				2.95%
Interest Rate Swap Two [Member] | One-Month LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate						1.50%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Derivative notional amount		$ 45,500,000				$ 45,500,000
Derivative, fixed interest rate		3.92%				3.92%
Other comprehensive expense net of income taxes		$ 10,500,000		$ 500,000		$ 8,400,000	100,000
Unrealized gain on cash flow hedge						$ 12,800,000	$ 100,000
Interest Rate Swap [Member] | One-Month LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate						1.65%
Senior Notes, Interest Rate of 5.75%, Maturing 2023 [Member]
Debt Instrument [Line Items]
Debt instrument principal amount										$ 700,000,000
Debt instrument, redemption price as percentage of principal amount						101.917%
Loan redeption period after rdemption notice	30 days
Maturity period of senior notes						2023
Debt instrument stated interest rate										5.75%
Secured Debt [Member] | Interest Rate Swap Two [Member]
Debt Instrument [Line Items]
Monthly principal amortization						$ 650,000
Secured Debt [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Debt maturity date						Oct. 1, 2027
Monthly principal amortization						$ 500,000
Recovery Zone Facility Bonds [Member]
Debt Instrument [Line Items]
Debt maturity date						Jan. 1, 2036
Description of interest rate on bonds						The interest rate on the Bonds is equal to one-month LIBOR (adjusted monthly) plus a credit spread, adjusted to reflect the income tax exemption.
Total amount of bonds funded											$ 99,700,000
Credit Line [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity		175,000,000				$ 175,000,000
Borrowings outstanding		0				$ 0
Line of credit facility expiration date						Sep. 1, 2022
Credit Line [Member] | Unused Letters Of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity		20,000,000				$ 20,000,000
Unused letters of credit issued		$ 9,100,000				$ 9,100,000
Real Estate Loan (the “Loan”) [Member]
Debt Instrument [Line Items]
Debt instrument principal amount								$ 155,000,000
Debt instrument term	10 years
Debt instrument, periodic principal payment	$ 650,000
Debt maturity date						Jan. 31, 2030
Real Estate Loan (the “Loan”) [Member] | Senior Notes, Interest Rate of 5.75%, Maturing 2023 [Member]
Debt Instrument [Line Items]
Loss on early extinguishment of debt						$ 3,700,000

Long-Term Debt (Schedule Of Red

Long-Term Debt (Schedule Of Redemption Prices Of Senior Notes) (Details)	6 Months Ended
	Mar. 28, 2020
2018
Debt instrument, redemption price as percentage of principal amount	102.875%
2019
Debt instrument, redemption price as percentage of principal amount	101.917%
2020
Debt instrument, redemption price as percentage of principal amount	100.958%
2021 and thereafter
Debt instrument, redemption price as percentage of principal amount	100.00%

Dividends (Narrative) (Details)

Dividends (Narrative) (Details) - $ / shares	Jan. 16, 2020	Oct. 17, 2019	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Class A Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock			$ 0.165	$ 0.165	$ 0.33	$ 0.33
Class B Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock			$ 0.150	$ 0.150	$ 0.30	$ 0.30
Dividend I [Member]
Dividends Payable [Line Items]
Dividend payment date					Oct. 17, 2019
Dividend record date					Oct. 10, 2019
Dividend I [Member] | Class A Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.165
Dividend I [Member] | Class B Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.15
Dividend II [Member]
Dividends Payable [Line Items]
Dividend payment date					Jan. 16, 2020
Dividend record date					Jan. 9, 2020
Dividend II [Member] | Class A Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock	$ 0.165
Dividend II [Member] | Class B Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock	$ 0.15

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details)	6 Months Ended
	Mar. 28, 2020item
Earnings Per Share [Line Items]
Conversion feature for Class B Common Stock	each share is convertible into one share of Class A Common Stock at any time
Voting rights for shareholders	Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share
Percentage of cash dividend on Class B Common Stock entitled to receive for each share of Class A Common Stock	110.00%
Class A Common Stock [Member]
Earnings Per Share [Line Items]
Number of votes for common stock	1
Class B Common Stock [Member]
Earnings Per Share [Line Items]
Number of votes for common stock	10

Earnings Per Common Share (Reco

Earnings Per Common Share (Reconciliation Of Numerators And Denominators Of Basic And Diluted Earnings Per Share) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Class A Common Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income allocated, basic	$ 29,017,203	$ 10,773,567	$ 41,740,166	$ 26,678,194
Conversion of Class B to Class A shares	11,275,077	4,226,473	16,239,467	10,474,183
Net income allocated, diluted	$ 40,292,280	$ 15,000,040	$ 57,979,633	$ 37,152,377
Weighted average shares outstanding, basic	14,193,290	14,154,424	14,187,986	14,149,904
Conversion of Class B to Class A shares	6,066,486	6,105,352	6,071,790	6,109,872
Weighted average shares outstanding, diluted	20,259,776	20,259,776	20,259,776	20,259,776
Earnings per share, Basic	$ 2.04	$ 0.76	$ 2.94	$ 1.88
Earnings per share, Diluted	$ 1.99	$ 0.74	$ 2.86	$ 1.83
Class B Common Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income allocated, basic	$ 11,275,077	$ 4,226,473	$ 16,239,467	$ 10,474,183
Net income allocated, diluted	$ 11,275,077	$ 4,226,473	$ 16,239,467	$ 10,474,183
Weighted average shares outstanding, basic	6,066,486	6,105,352	6,071,790	6,109,872
Weighted average shares outstanding, diluted	6,066,486	6,105,352	6,071,790	6,109,872
Earnings per share, Basic	$ 1.86	$ 0.69	$ 2.68	$ 1.71
Earnings per share, Diluted	$ 1.86	$ 0.69	$ 2.68	$ 1.71

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 28, 2020USD ($)	Mar. 28, 2020USD ($)	Sep. 28, 2019item
Leases [Abstract]
Initial terms of leases	20 years	20 years
Operating lease cost	$ 2.3	$ 5
Operating sub-lease rental income		$ 0.2
Weighted average remaining lease term	14 years 3 months 18 days	14 years 3 months 18 days
Operating lease weighted average discount rate	3.51%	3.51%
Lessor non-cancelable operating lease agreements			20 years
Number of shopping centers owned and operated | item			79

Leases (Maturities Of Operating

Leases (Maturities Of Operating Lease Liabilities) (Details)	Mar. 28, 2020USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2020	$ 4,993,363
2021	7,820,804
2022	7,408,458
2023	5,302,279
2024	2,908,072
Thereafter	27,187,517
Total lease payments	55,620,493
Less amount representing interest	12,992,441
Present value of lease liabilities	$ 42,628,052

Leases (Future Minimum Lease Pa

Leases (Future Minimum Lease Payments Prior To Adoption Of ASU 2016-02) (Details)	Sep. 28, 2019USD ($)
Leases [Abstract]
2020	$ 9,756,136
2021	7,532,373
2022	6,692,661
2023	4,907,148
2024	2,583,629
Thereafter	27,187,519
Total minimum future rental commitments	$ 58,659,466

Leases (Schedule Of Rental Inco

Leases (Schedule Of Rental Income) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 28, 2020	Mar. 28, 2020
Operating Leases, Income Statement, Lease Revenue [Abstract]
Base rentals	$ 4,144,319	$ 7,964,639
Variable rentals	69,665	139,330
Total	4,213,984	8,103,969
Depreciation on owned properties leased to others	(1,328,968)	(2,657,936)
Other shopping center expenses	(899,763)	(1,750,748)
Total	$ 1,985,253	$ 3,695,285

Leases (Future Minimum Operatin

Leases (Future Minimum Operating Lease Receipts) (Details)	Mar. 28, 2020USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2020	$ 5,880,856
2021	10,170,740
2022	8,279,676
2023	7,189,842
2024	6,369,072
Thereafter	15,419,999
Total minimum future rental income	$ 53,310,185

Leases (Future Minimum Operat_2

Leases (Future Minimum Operating Lease Receipts Prior To Adoption Of ASU 2016-02) (Details)	Sep. 28, 2019USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2020	$ 11,265,775
2021	8,855,781
2022	6,967,583
2023	5,862,260
2024	5,145,632
Thereafter	13,723,315
Total minimum future rental income	$ 51,820,346

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 28, 2020USD ($)	Mar. 30, 2019USD ($)	Mar. 28, 2020USD ($)segment	Mar. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			1
Fluid dairy [Member]
Segment Reporting Information [Line Items]
Sales eliminated in consolidation | $	$ 12.3	$ 10.2	$ 23.8	$ 21.2

Segment Information (Operations

Segment Information (Operations By Lines Of Business) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019	Sep. 28, 2019
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	$ 1,145,482,049	$ 1,001,843,929	$ 2,223,836,986	$ 2,063,680,587
Total income from operations	63,300,678	30,745,989	101,776,039	70,209,528
Total assets	1,964,230,250		1,964,230,250		$ 1,867,328,368
Elimination of intercompany receivable [Member]
Segment Reporting Information By Segment [Line Items]
Total assets	(3,268,000)		(3,268,000)		(2,296,000)
Grocery [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	424,664,000	351,558,000	802,993,000	727,197,000
Non-foods [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	260,914,000	223,067,000	506,945,000	455,564,000
Perishables [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	304,105,000	267,565,000	584,910,000	542,960,000
Gasoline [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	121,932,000	127,985,000	261,044,000	274,496,000
Retail [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	1,111,615,000	970,175,000	2,155,892,000	2,000,217,000
Total income from operations	58,069,000	26,434,000	92,290,000	62,051,000
Total assets	1,792,303,000		1,792,303,000		1,698,904,000
Other Segment [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	33,867,000	31,669,000	67,945,000	63,464,000
Total income from operations	5,232,000	$ 4,312,000	9,486,000	$ 8,159,000
Total assets	$ 175,195,000		$ 175,195,000		$ 170,720,000

Fair Values Of Financial Inst_3

Fair Values Of Financial Instruments (Carrying Amount And Fair Value Of Debt, Interest Rate Swap And Non-Qualified Plan Assets) (Details) - Level 2 [Member] $ in Thousands	Mar. 28, 2020USD ($)
Carrying Amount [Member] | Non-Qualified Retirement Plan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement plan assets	$ 13,666
Fair Value [Member] | Non-Qualified Retirement Plan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement plan assets	13,666
Senior Notes, net of unamortized original issue discount [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	545,000
Senior Notes, net of unamortized original issue discount [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	517,069
Recovery Zone Facility Bonds [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	68,030
Recovery Zone Facility Bonds [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	68,030
Interest Rate Swap Derivative Contract [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contract asset	12,752
Interest Rate Swap Derivative Contract [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contract asset	12,752
Secured Notes Payable And Other [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	229,026
Secured Notes Payable And Other [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 229,026

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - Robert P. Ingle II, Chairman of Board [Member] $ in Millions	1 Months Ended
	Nov. 30, 2019USD ($)item
Related Party Transaction [Line Items]
Number of land parcels sold | item	2
Related party transaction, other revenues from transactions with related party | $	$ 4.3