Ingles Markets (IMKTA) 10-Q 6 Feb 25 2025 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 28, 2024	Feb. 04, 2025
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 28, 2024
Document Transition Report	false
Entity File Number	0-14706
Entity Registrant Name	INGLES MARKETS, INCORPORATED
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	56-0846267
Entity Address, Address Line One	2913 U.S. Hwy. 70 West
Entity Address, City or Town	Black Mountain
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28711
City Area Code	828
Local Phone Number	669-2941
Title of 12(b) Security	Class A Common Stock, $0.05 par value per share
Trading Symbol	IMKTA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Current Fiscal Year End Date	--09-27
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Central Index Key	0000050493
Amendment Flag	false
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		14,545,750
Class B Common Stock [Member]
Entity Common Stock, Shares Outstanding		4,448,626

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 28, 2024	Sep. 28, 2024
Current Assets:
Cash and cash equivalents	$ 269,509,759	$ 353,687,911
Receivables - net	104,710,234	78,266,383
Inventories	490,792,120	462,084,658
Other current assets	25,012,612	31,508,803
Total Current Assets	890,024,725	925,547,755
Property and Equipment - Net	1,526,528,312	1,526,708,462
Operating lease right of use assets	24,789,095	27,247,555
Other Assets	51,929,884	48,378,943
Total Assets	2,493,272,016	2,527,882,715
Current Liabilities:
Current portion of long-term debt	17,520,876	17,520,876
Current portion of operating lease liabilities	4,809,453	4,995,837
Current portion of finance lease liabilities	684,931	674,759
Accounts payable - trade	182,758,478	198,329,197
Accrued expenses and current portion of other long-term liabilities	68,760,557	99,101,275
Total Current Liabilities	274,534,295	320,621,944
Deferred Income Taxes	64,056,000	63,767,000
Long-Term Debt	511,852,130	515,101,562
Noncurrent operating lease liabilities	21,341,325	24,276,818
Noncurrent operating finance liabilities	2,210,084	2,385,179
Other Long-Term Liabilities	57,670,346	55,981,122
Total Liabilities	931,664,180	982,133,625
Stockholders’ Equity
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued
Paid-in capital in excess of par value
Accumulated other comprehensive income	9,075,368	6,737,631
Retained earnings	1,551,582,749	1,538,061,740
Total Stockholders’ Equity	1,561,607,836	1,545,749,090
Total Liabilities and Stockholders’ Equity	2,493,272,016	2,527,882,715
Class A Common Stock [Member]
Stockholders’ Equity
Common stock:	727,288	727,247
Class B Common Stock [Member]
Stockholders’ Equity
Common stock:	$ 222,431	$ 222,472

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 28, 2024	Sep. 28, 2024
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	14,545,750	14,544,925
Common stock, shares outstanding	14,545,750	14,544,925
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	4,448,626	4,449,451
Common stock, shares outstanding	4,448,626	4,449,451

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Net sales	$ 1,288,114,667	$ 1,481,061,830
Cost of goods sold	986,979,951	1,132,260,751
Gross profit	301,134,716	348,801,079
Operating and administrative expenses	280,708,974	289,826,530
Gain from sale or disposal of assets	3,146,202	652,860
Income from operations	23,571,944	59,627,409
Other income, net	3,297,385	3,606,549
Interest expense	5,010,989	5,706,357
Income before income taxes	21,858,340	57,527,601
Income tax expense	5,270,000	14,134,000
Net income	16,588,340	43,393,601
Other comprehensive income (loss):
Change in fair value of interest rate swap	3,089,737	(5,067,556)
Income tax (expense) benefit	(752,000)	1,238,000
Other comprehensive income (loss), net of tax	2,337,737	(3,829,556)
Comprehensive income	$ 18,926,077	$ 39,564,045
Class A Common Stock [Member]
Per share amounts:
Basic earnings per common share	$ 0.89	$ 2.33
Diluted earnings per common share	0.87	2.28
Cash dividends per common share	0.165	0.165
Class B Common Stock [Member]
Per share amounts:
Basic earnings per common share	0.81	2.12
Diluted earnings per common share	0.81	2.12
Cash dividends per common share	$ 0.150	$ 0.150

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]	Accumulated Other Comprehensive (Los) Income Member]	Retained Earnings [Member]	Total
Balance at Sep. 30, 2023	$ 724,854	$ 224,865	$ 13,233,631	$ 1,444,788,790	$ 1,458,972,140
Balance (in shares) at Sep. 30, 2023	14,497,075	4,497,301
Net income				43,393,601	43,393,601
Other comprehensive income (loss), net of income tax			(3,829,556)		(3,829,556)
Cash dividends				(3,066,613)	(3,066,613)
Common stock conversions	$ 1,955	$ (1,955)
Common stock conversions (in shares)	39,100	(39,100)
Balance at Dec. 30, 2023	$ 726,809	$ 222,910	9,404,075	1,485,115,778	1,495,469,572
Balance (in shares) at Dec. 30, 2023	14,536,175	4,458,201
Balance at Sep. 28, 2024	$ 727,247	$ 222,472	6,737,631	1,538,061,740	1,545,749,090
Balance (in shares) at Sep. 28, 2024	14,544,925	4,449,451
Net income				16,588,340	16,588,340
Other comprehensive income (loss), net of income tax			2,337,737		2,337,737
Cash dividends				(3,067,331)	(3,067,331)
Common stock conversions	$ 41	$ (41)
Common stock conversions (in shares)	825	(825)
Balance at Dec. 28, 2024	$ 727,288	$ 222,431	$ 9,075,368	$ 1,551,582,749	$ 1,561,607,836
Balance (in shares) at Dec. 28, 2024	14,545,750	4,448,626

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Cash Flows From Operating Activities:
Net income	$ 16,588,340	$ 43,393,601
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	30,938,524	28,774,484
Non cash operating lease cost	1,244,823	1,717,656
Gain from sale or disposal of assets	(3,146,202)	(652,860)
Receipt of advance payments on purchase contracts	740,785	250,000
Recognition of advance payments on purchase contracts	(755,549)	(816,137)
Deferred income taxes	(463,000)	(1,379,000)
Changes in operating assets and liabilities:
Receivables	(26,443,851)	(9,177,044)
Inventory	(28,707,463)	(7,186,938)
Other assets	6,034,986	1,006,283
Operating lease liabilities	(1,908,239)	(1,716,273)
Accounts payable and accrued expenses	(37,770,447)	(38,672,293)
Net Cash (Used) Provided by Operating Activities	(43,647,293)	15,541,479
Cash Flows from Investing Activities:
Purchase of short term investments
Proceeds from sales of property and equipment	3,916,693	812,578
Capital expenditures	(37,776,087)	(63,200,544)
Net Cash Used by Investing Activities	(33,859,394)	(62,387,966)
Cash Flows from Financing Activities:
Principal payments on long-term borrowings	(3,439,212)	(3,437,500)
Repayment of finance lease	(164,922)	(155,342)
Dividends paid	(3,067,331)	(3,066,613)
Net Cash Used by Financing Activities	(6,671,465)	(6,659,455)
Net Decrease in Cash and Cash Equivalents	(84,178,152)	(53,505,942)
Cash and cash equivalents at beginning of period	353,687,911	328,539,922
Cash and Cash Equivalents at End of Period	$ 269,509,759	$ 275,033,980

Basis of Preparation

Basis of Preparation	3 Months Ended
	Dec. 28, 2024
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 financial position as of December 28, 2024, and the results of operations, changes in stockholders’ equity and cash flows of Ingles Markets, Incorporated, a North Carolina corporation (“Ingles”, the “Company”, “we”, “us”, or “our”), for the three months ended December 28, 2024 and December 30, 2023. The adjustments made are of a normal recurring nature. Certain information and footnote disclosures 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, 2024, filed by the Company under the Securities Exchange Act of 1934, on December 27, 2024. The results of operations for the three months ended December 28, 2024 are not necessarily indicative of the results to be expected for the full fiscal year.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Dec. 28, 2024
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	B. NEW ACCOUNTING PRONOUNCEMENTS In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” The ASU provides optional guidance to ease the potential burden in accounting for reference rate reform on financial reporting in response to the risk of cessation of the London Interbank Offered Rate (“LIBOR”). This amendment provides for optional expedients and exceptions for applying generally accepted accounting principles to contracts and hedging relationships that are affected by LIBOR and other reference rates. The ASU generally allows for hedge accounting to continue if the hedge was highly effective or met other standards prior to reference rate reform. Entities are permitted to apply the amendments to all contracts, cash flow and net investment hedge relationships that existed as of March 12, 2020. The relief provided in this ASU extends through December 31, 2024. The U.S. Dollar LIBOR panel ceased following June 30, 2023, and the Company’s debt agreements and interest rate swaps that utilized LIBOR discontinued the use of LIBOR and adopted the Secured Overnight Financing Rate (“SOFR”), which did not materially impact our condensed consolidated unaudited interim financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures , which requires greater disaggregation of income tax disclosures. The new standard requires additional information to be disclosed with respect to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU should be applied prospectively for fiscal years beginning after December 15, 2024, with retrospective application permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires companies to enhance the disclosures about segment expenses. The new standard requires the disclosure of the Company’s Chief Operating Decision Maker (“CODM”), expanded incremental line-item disclosures of significant segment expenses used by the CODM for decision-making, and the inclusion of previous annual only segment disclosure requirements on a quarterly basis. This ASU should be applied retrospectively for fiscal years beginning after December 15, 2023, and early adoption is permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE) , which requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The requirements apply prospectively with the option for retrospective application. The Company is currently evaluating the impact that the adoption of this accounting standard will have on the Company’s Consolidated Financial Statements.

Short Term Investments

Short Term Investments	3 Months Ended
	Dec. 28, 2024
Short Term Investments [Abstract]
Short Term Investments	C. SHORT TERM INVESTMENTS From time to time, the Company purchases financial products that can be readily converted into cash, and the Company accounts for such financial products as short-term investments. The financial products may include money market funds, bonds and mutual funds. The carrying values of the Company’s short-term investments approximate fair value because of their liquidity.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts	3 Months Ended
	Dec. 28, 2024
Allowance for Doubtful Accounts [Abstract]
Allowance for Doubtful Accounts	D. ALLOWANCE FOR DOUBTFUL ACCOUNTS Receivables are presented net of an allowance for doubtful accounts of $ 483,853 at December 28, 2024 and $ 474,684 at September 28, 2024.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 28, 2024
Income Taxes [Abstract]
Income Taxes	E. 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	3 Months Ended
	Dec. 28, 2024
Accrued Expenses and Current Portion of Other Long-Term Liabilities [Abstract]
Accrued Expenses and Current Portion of Other Long-Term Liabilities	F. ACCRUED EXPENSES AND CURRENT PORTION OF OTHER LONG-TERM LIABILITIES Accrued expenses and current portion of other long-term liabilities consist of the following: December 28, September 28, 2024 2024 Property, payroll and other taxes payable $ 10,846,961 $ 22,592,669 Salaries, wages and bonuses payable 33,062,559 48,869,003 Self-insurance liabilities 16,550,966 16,477,444 Interest payable 1,392,767 4,984,248 Other 6,907,304 6,177,911 Total $ 68,760,557 $ 99,101,275 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. The Company is currently insured for covered costs in excess of $ 1.0 million per occurrence for workers’ compensation and for general liability and $ 500,000 per covered person for medical care benefits for a policy year. The Company’s self-insurance reserves totaled $ 36.7 million at December 28, 2024. Of this amount, $ 16.6 million was accounted for as a current liability and $ 20.1 million as a long-term liability, which included $ 4.0 million of expected self-insurance recoveries from excess cost insurance or other sources that was recorded as a receivable. At September 28, 2024, the Company’s self-insurance reserves totaled $ 35.9 million, of which $ 16.5 million was accounted for as a current liability and $ 19.4 million as a long-term liability, which included $ 4.1 million of expected self-insurance recoveries from excess cost insurance or other sources that was recorded as a receivable. Employee insurance expense, including workers’ compensation and medical care benefits, net of employee contributions, totaled $ 11.2 million and $ 13.1 million for the three months ended December 28, 2024 and December 30, 2023, respectively. The Company’s fuel operations use underground tanks for the storage of gasoline and diesel fuel. The Company reviewed FASB Accounting Standards Codification Topic 410 (“FASB ASC 410”) and determined that we have a legal obligation to remove tanks at various times in the future and accordingly determined that we have met the requirements for 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 were immaterial for each fuel center as well as in the aggregate, at December 28, 2024 and September 28, 2024.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Dec. 28, 2024
Long-Term Debt [Abstract]
Long-Term Debt	G. LONG-TERM DEBT In June 2021, the Company issued at par $ 350.0 million aggregate principal amount of 4.00 % senior notes due 2031 (the “Notes”). 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 2026 102.000 % 2027 101.333 % 2028 100.667 % 2029 and thereafter 100.000 % The Company has a $ 150.0 million line of credit (the “Line”) that matures in June 2026 . The Line provides the Company with various interest rate options based on the prime rate, the Federal Funds Rate or SOFR. The Line allows the Company to issue up to $ 10.0 million of letters of credit, of which none were issued at December 28, 2024. The Company is not required to maintain compensating balances in connection with the Line. At December 28, 2024, 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 December 2029, 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 outstanding balance of the Bonds was $ 49.9 million as of December 28, 2024. The Company may redeem the Bonds without penalty or premium at any time prior to December 17, 2029 . 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 SOFR (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. The Covenant Agreement incorporates substantially all financial covenants included in the Line. In September 2017, the Company refinanced approximately $ 60 million of secured borrowing obligations with a SOFR-based amortizing floating rate loan secured by real estate, which matures in October 2027. The Company has an interest rate swap agreement for a current notional amount of $ 17.0 million at a fixed rate of 3.962 %. Under this agreement, the Company pays monthly the fixed rate of 3.962 % and receives the one-month SOFR plus 1.75 %. 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 . In December 2019, the Company entered into a $ 155 million SOFR-based amortizing floating rate loan secured by real estate, which matures in January 2030 . The Company has an interest rate swap agreement for a current notional amount of $ 115.0 million at a fixed rate of 2.998 %. Under this agreement, the Company pays monthly the fixed rate of 2.998 % and receives the one-month SOFR plus 1.60 %. 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 months ended December 28, 2024, the Company recorded $ 2.3 million of other comprehensive income, net of income taxes, in its Condensed Consolidated Statements of Comprehensive Income. Unrealized gains of $ 12.0 million were included as an asset at fair value in the line “Other Assets” on the Condensed Consolidated Balance Sheet as of December 28, 2024. 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 December 28, 2024. 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 December 28, 2024, property and equipment with an undepreciated cost of approximately $ 248.8 million were 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 December 28, 2024, the Company had excess net worth totaling $ 511.2 million calculated under covenants in the Bonds, various floating rate loans (the “Loans”), 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 Common Stock 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	3 Months Ended
	Dec. 28, 2024
Dividends [Abstract]
Dividends	H. 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, 2024 to stockholders of record on October 10, 2024 . 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, 2025 to stockholders of record on January 9, 2025 . 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 contained in the Company’s Annual Report on Form 10-K filed by the Company under the Securities Exchange Act of 1934, on December 27, 2024.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Dec. 28, 2024
Earnings Per Common Share [Abstract]
Earnings Per Common Share	I. EARNINGS PER COMMON SHARE The Company has two classes of common stock: Class A Common Stock which is publicly traded, and Class B Common Stock, 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 Three Months Ended December 28, 2024 December 30, 2023 Class A Class B Class A Class B Numerator: Allocated net income Net income allocated, basic $ 12,979,100 $ 3,609,240 $ 33,889,419 $ 9,504,182 Conversion of Class B to Class A shares 3,609,240 — 9,504,182 — Net income allocated, diluted $ 16,588,340 $ 3,609,240 $ 43,393,601 $ 9,504,182 Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic 14,545,223 4,449,153 14,517,696 4,476,680 Conversion of Class B to Class A shares 4,449,153 — 4,476,680 — Weighted average shares outstanding, diluted 18,994,376 4,449,153 18,994,376 4,476,680 Earnings per share Basic $ 0.89 $ 0.81 $ 2.33 $ 2.12 Diluted $ 0.87 $ 0.81 $ 2.28 $ 2.12

Leases

Leases	3 Months Ended
	Dec. 28, 2024
Leases [Abstract]
Leases	J. 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 require that the Company pay property taxes, utilities, repairs and certain other costs incidental to occupying the premises. Several leases contain clauses that require rental payments based on a percentage of gross sales of the supermarket occupying the leased space. Step rent provisions, escalation clauses and lease incentives are considered in computing minimum lease payments. Operating Leases – Rent expense for all operating leases totaled $ 1.7 million for the three months ended December 28, 2024. This amount included short-term (less than one year) leases, common area expenses, and variable lease costs, all of which were insignificant. Cash paid for lease liabilities in operating activities approximates operating lease cost. Finance Leases – Finance lease cost of $ 210.0 thousand included amortization expense of $ 178.5 thousand, which was included in operating and administrative expense, and $ 45.1 thousand of interest expense for the three months ended December 28, 2024. Future maturities of lease liabilities as of December 28, 2024 were as follows: Fiscal Year Operating Leases Finance Leases Remainder of 2025 $ 4,488,048 $ 630,000 2026 5,123,022 840,000 2027 4,557,095 840,000 2028 3,018,504 840,000 2029 2,029,928 101,500 Thereafter 15,641,087 — Total lease payments $ 34,857,684 $ 3,251,500 Less amount representing interest 8,706,906 356,485 Present value of lease liabilities $ 26,150,778 $ 2,895,015 There were no lease extensions exercised to increase the line items “Operating lease right of use assets” and “Noncurrent operating lease liabilities” on the Condensed Consolidated Balance Sheets during the three months ended December 28, 2024. At December 28, 2024, the weighted average remaining lease term for the Company’s operating leases was 15.0 years. The weighted average discount rate used to determine the operating lease liability balances as of December 28, 2024 was 4.0 %, and was 6.0 % for finance lease liability balances. Leases as Lessor At December 28, 2024, the Company owned and operated 100 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 terms ranging up to 20 years. Rental income is included in the line item “Net sales” on the Condensed 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 Condensed Consolidated Statements of Income. Three Months Ended December 28, 2024 Rents earned on owned and subleased properties: Base rentals $ 6,598,742 Variable rentals 78,502 Total 6,677,244 Depreciation on owned properties leased to others ( 2,155,209 ) Other shopping center expenses ( 1,109,066 ) Total $ 3,412,969 Future minimum operating lease receipts at December 28, 2024 were as follows: Fiscal Year Remainder of 2025 $ 15,344,855 2026 16,836,353 2027 13,408,795 2028 10,845,522 2029 7,708,824 Thereafter 26,541,336 Total minimum future rental income $ 90,685,685

Segment Information

Segment Information	3 Months Ended
	Dec. 28, 2024
Segment Information [Abstract]
Segment Information	K. 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 December 28, December 30, 2024 2023 Revenues from unaffiliated customers: Grocery $ 477,535 $ 521,805 Non-foods 289,443 358,098 Perishables 334,302 367,983 Fuel 143,785 177,887 Total Retail $ 1,245,065 $ 1,425,773 Other 43,050 55,289 Total revenues from unaffiliated customers $ 1,288,115 $ 1,481,062 Income from operations: Retail $ 21,189 $ 53,390 Other 2,383 6,237 Total income from operations $ 23,572 $ 59,627 December 28, September 28, 2024 2024 Assets: Retail $ 2,162,626 $ 2,198,732 Other 332,587 331,150 Elimination of intercompany receivable ( 1,941 ) ( 1,999 ) Total assets $ 2,493,272 $ 2,527,883 The “Grocery” category includes grocery, dairy, and frozen foods. The “Non-foods” category includes alcoholic beverages, tobacco, pharmacy, and health/beauty/cosmetic products. The “Perishables” category includes meat, produce, deli and bakery. The fluid dairy operation sales to the grocery sales segment 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	3 Months Ended
	Dec. 28, 2024
Fair Values of Financial Instruments [Abstract]
Fair Values of Financial Instruments	L. 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 December 28, 2024 were as follows (in thousands): Carrying Fair Value Amount Fair Value Measurements Senior Notes due 2031 $ 350,000 $ 307,125 Level 2 Facility Bonds due 2036 49,910 49,910 Level 2 Secured notes payable and other 129,463 129,463 Level 2 Interest rate swaps derivative contract assets 12,020 12,020 Level 2 Non-qualified retirement plan assets 27,602 27,602 Level 2 The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified retirement plan assets at September 28, 2024 were as follows (in thousands): Carrying Fair Value Amount Fair Value Measurements Senior Notes due 2031 $ 350,000 $ 317,625 Level 2 Facility Bonds due 2036 49,910 49,910 Level 2 Secured notes payable and other 132,712 132,712 Level 2 Interest rate swaps derivative contract assets 8,931 8,931 Level 2 Non-qualified retirement plan assets 27,126 27,126 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	3 Months Ended
	Dec. 28, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	M. 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 is not expected to materially affect the Company’s financial position, the results of its operations, or its cash flows. The Company is currently working with its insurance carriers to reach final determinations with respect to inventory loss claims related to the impact of Hurricane Helene. The final amount of the claim is currently being assessed and the timing and exact amount of insurance proceeds remain uncertain. The Company did not recognize an asset for the insurance recovery receivable in the Consolidated Balance Sheet as of December 28, 2024, because recovery was not yet deemed probable. The Company will continue to monitor the claims process and will adjust its impact on financials statements accordingly in future periods.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Dec. 28, 2024
Related Party Transactions [Abstract]
Related Party Transactions	N. RELATED PARTY TRANSACTIONS The Company will from time to time make short-term non-interest bearing loans to the Company’s Investment/Profit Sharing Plan to allow the plan to meet distribution obligations during a time when the plan is prohibited from selling shares of the Company’s Class A Common Stock. During the three months ended December 28, 2024, no such loans were made, repaid or outstanding.

Accrued Expenses and Current _2

Accrued Expenses and Current Portion of Other Long-Term Liabilities (Tables)	3 Months Ended
	Dec. 28, 2024
Accrued Expenses and Current Portion of Other Long-Term Liabilities [Abstract]
Accrued Expenses and Current Portion of Other Long-Term Liabilities	December 28, September 28, 2024 2024 Property, payroll and other taxes payable $ 10,846,961 $ 22,592,669 Salaries, wages and bonuses payable 33,062,559 48,869,003 Self-insurance liabilities 16,550,966 16,477,444 Interest payable 1,392,767 4,984,248 Other 6,907,304 6,177,911 Total $ 68,760,557 $ 99,101,275

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Dec. 28, 2024
Long-Term Debt [Abstract]
Schedule of Redemption Prices of Senior Notes	Year 2026 102.000 % 2027 101.333 % 2028 100.667 % 2029 and thereafter 100.000 %

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Dec. 28, 2024
Earnings Per Common Share [Abstract]
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share	Three Months Ended Three Months Ended December 28, 2024 December 30, 2023 Class A Class B Class A Class B Numerator: Allocated net income Net income allocated, basic $ 12,979,100 $ 3,609,240 $ 33,889,419 $ 9,504,182 Conversion of Class B to Class A shares 3,609,240 — 9,504,182 — Net income allocated, diluted $ 16,588,340 $ 3,609,240 $ 43,393,601 $ 9,504,182 Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic 14,545,223 4,449,153 14,517,696 4,476,680 Conversion of Class B to Class A shares 4,449,153 — 4,476,680 — Weighted average shares outstanding, diluted 18,994,376 4,449,153 18,994,376 4,476,680 Earnings per share Basic $ 0.89 $ 0.81 $ 2.33 $ 2.12 Diluted $ 0.87 $ 0.81 $ 2.28 $ 2.12

Leases (Tables)

Leases (Tables)	3 Months Ended
	Dec. 28, 2024
Leases [Abstract]
Future Maturities of Lease Liabilities	Fiscal Year Operating Leases Finance Leases Remainder of 2025 $ 4,488,048 $ 630,000 2026 5,123,022 840,000 2027 4,557,095 840,000 2028 3,018,504 840,000 2029 2,029,928 101,500 Thereafter 15,641,087 — Total lease payments $ 34,857,684 $ 3,251,500 Less amount representing interest 8,706,906 356,485 Present value of lease liabilities $ 26,150,778 $ 2,895,015
Schedule of Rental Income	Three Months Ended December 28, 2024 Rents earned on owned and subleased properties: Base rentals $ 6,598,742 Variable rentals 78,502 Total 6,677,244 Depreciation on owned properties leased to others ( 2,155,209 ) Other shopping center expenses ( 1,109,066 ) Total $ 3,412,969
Future Minimum Operating Lease Receipts	Fiscal Year Remainder of 2025 $ 15,344,855 2026 16,836,353 2027 13,408,795 2028 10,845,522 2029 7,708,824 Thereafter 26,541,336 Total minimum future rental income $ 90,685,685

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Dec. 28, 2024
Segment Information [Abstract]
Operations by Lines of Business	Three Months Ended December 28, December 30, 2024 2023 Revenues from unaffiliated customers: Grocery $ 477,535 $ 521,805 Non-foods 289,443 358,098 Perishables 334,302 367,983 Fuel 143,785 177,887 Total Retail $ 1,245,065 $ 1,425,773 Other 43,050 55,289 Total revenues from unaffiliated customers $ 1,288,115 $ 1,481,062 Income from operations: Retail $ 21,189 $ 53,390 Other 2,383 6,237 Total income from operations $ 23,572 $ 59,627 December 28, September 28, 2024 2024 Assets: Retail $ 2,162,626 $ 2,198,732 Other 332,587 331,150 Elimination of intercompany receivable ( 1,941 ) ( 1,999 ) Total assets $ 2,493,272 $ 2,527,883

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	3 Months Ended
	Dec. 28, 2024
Fair Values of Financial Instruments [Abstract]
Carrying Amount and Fair Value of Debt, Interest Rate Swap and Non-Qualified Plan Assets	The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified retirement plan assets at December 28, 2024 were as follows (in thousands): Carrying Fair Value Amount Fair Value Measurements Senior Notes due 2031 $ 350,000 $ 307,125 Level 2 Facility Bonds due 2036 49,910 49,910 Level 2 Secured notes payable and other 129,463 129,463 Level 2 Interest rate swaps derivative contract assets 12,020 12,020 Level 2 Non-qualified retirement plan assets 27,602 27,602 Level 2 The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified retirement plan assets at September 28, 2024 were as follows (in thousands): Carrying Fair Value Amount Fair Value Measurements Senior Notes due 2031 $ 350,000 $ 317,625 Level 2 Facility Bonds due 2036 49,910 49,910 Level 2 Secured notes payable and other 132,712 132,712 Level 2 Interest rate swaps derivative contract assets 8,931 8,931 Level 2 Non-qualified retirement plan assets 27,126 27,126 Level 2

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts (Narrative) (Details) - USD ($)	Dec. 28, 2024	Sep. 28, 2024
Allowance for Doubtful Accounts [Abstract]
Allowance for doubtful accounts	$ 483,853	$ 474,684

Accrued Expenses and Current _3

Accrued Expenses and Current Portion of Other Long-Term Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Sep. 28, 2024
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	500
Self insurance liabilities	36,700		$ 35,900
Self insurance liabilities, current	16,600		16,500
Self insurance liabilities, noncurrent	20,100		19,400
Receivable for expected self-insurance recoveries from excess cost insurance	4,000		$ 4,100
Employee insurance expense	$ 11,200	$ 13,100

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 ($)	Dec. 28, 2024	Sep. 28, 2024
Accrued Expenses and Current Portion of Other Long-Term Liabilities [Abstract]
Property, payroll and other taxes payable	$ 10,846,961	$ 22,592,669
Salaries, wages and bonuses payable	33,062,559	48,869,003
Self-insurance liabilities	16,550,966	16,477,444
Interest payable	1,392,767	4,984,248
Other	6,907,304	6,177,911
Total accrued expenses and current portion of other long-term liabilities	$ 68,760,557	$ 99,101,275

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)		1 Months Ended	3 Months Ended
	Dec. 31, 2019	Jun. 30, 2021	Dec. 28, 2024	Sep. 30, 2017	Dec. 31, 2010
Debt Instrument [Line Items]
Property and equipment with undepreciated cost pledge as collateral for long term debt			$ 248,800,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]			us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Excess net worth calculated under covenants in the Notes, the Bonds, and the Line			$ 511,200,000
Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity			150,000,000
Borrowings outstanding			$ 0
Debt maturity date			Jun. 01, 2026
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility borrowing capacity			$ 10,000,000
Borrowings outstanding			0
Cash Flow Hedging [Member]
Debt Instrument [Line Items]
Other comprehensive income (loss), net of income taxes			2,300,000
Unrealized gains (losses) on cash flow hedge			12,000,000
Senior Notes, Maturing 2031 [Member]
Debt Instrument [Line Items]
Debt instrument principal amount		$ 350,000,000
Debt instrument stated interest rate		4%
Maturity period of senior notes		2031
Secured Debt Maturing October 2027 [Member]
Debt Instrument [Line Items]
Secured borrowing				$ 60,000,000
Secured Debt Maturing October 2027 [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Derivative notional amount			$ 17,000,000
Derivative, fixed interest rate			3.962%
Monthly principal amortization			$ 500,000
Derivative maturity date			Oct. 01, 2027
Debt instrument variable interest rate			1.75%
Secured Debt Maturing January 2030 [Member]
Debt Instrument [Line Items]
Debt maturity date	Jan. 01, 2030
Derivative notional amount	$ 155,000,000
Secured Debt Maturing January 2030 [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Derivative notional amount	$ 115,000,000
Derivative, fixed interest rate	2.998%
Monthly principal amortization	$ 650,000
Debt instrument variable interest rate	1.60%
Recovery Zone Facility Bonds [Member]
Debt Instrument [Line Items]
Debt maturity date			Jan. 01, 2036
Annual amount of redemption of bonds			$ 4,500,000
Mandatory bonds redemption beginning period			Jan. 01, 2014
Mandatory bonds redemption period end date			Dec. 17, 2029
Total amount of bonds funded			$ 49,900,000		$ 99,700,000

Long-Term Debt (Schedule of Red

Long-Term Debt (Schedule of Redemption Prices of Senior Notes) (Details)	3 Months Ended
	Dec. 28, 2024
2026 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price as percentage of principal amount	102%
2027 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price as percentage of principal amount	101.333%
2028 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price as percentage of principal amount	100.667%
2029 and Thereafter [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price as percentage of principal amount	100%

Dividends (Narrative) (Details)

Dividends (Narrative) (Details) - $ / shares		3 Months Ended
	Jan. 16, 2025	Dec. 28, 2024	Dec. 30, 2023
Class A Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.165	$ 0.165
Class B Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.150	$ 0.150
O2025 Q1 Dividends [Member]
Dividends Payable [Line Items]
Dividend payment date		Oct. 17, 2024
Dividend record date		Oct. 10, 2024
O2025 Q1 Dividends [Member] | Class A Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.165
O2025 Q1 Dividends [Member] | Class B Common Stock [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.15
O2025 Q2 Dividends [Member] | Subsequent Event [Member]
Dividends Payable [Line Items]
Dividend payment date	Jan. 16, 2025
Dividend record date	Jan. 09, 2025
O2025 Q2 Dividends [Member] | Class A Common Stock [Member] | Subsequent Event [Member]
Dividends Payable [Line Items]
Cash dividends per share of common stock	$ 0.165
O2025 Q2 Dividends [Member] | Class B Common Stock [Member] | Subsequent Event [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)	3 Months Ended
	Dec. 28, 2024 item
Earnings Per Share [Line Items]
Number of classes of common stock	2
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%
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
	Dec. 28, 2024	Dec. 30, 2023
Class A Common Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income allocated, basic	$ 12,979,100	$ 33,889,419
Conversion of Class B to Class A shares	3,609,240	9,504,182
Net income allocated, diluted	$ 16,588,340	$ 43,393,601
Weighted average shares outstanding, basic	14,545,223	14,517,696
Conversion of Class B to Class A shares	4,449,153	4,476,680
Weighted average shares outstanding, diluted	18,994,376	18,994,376
Earnings per share, Basic	$ 0.89	$ 2.33
Earnings per share, Diluted	$ 0.87	$ 2.28
Class B Common Stock [Member]
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income allocated, basic	$ 3,609,240	$ 9,504,182
Net income allocated, diluted	$ 3,609,240	$ 9,504,182
Weighted average shares outstanding, basic	4,449,153	4,476,680
Weighted average shares outstanding, diluted	4,449,153	4,476,680
Earnings per share, Basic	$ 0.81	$ 2.12
Earnings per share, Diluted	$ 0.81	$ 2.12

Leases (Narrative) (Details)

Leases (Narrative) (Details)	3 Months Ended
	Dec. 28, 2024 USD ($) item
Leases [Abstract]
Initial terms of leases	20 years
Operating lease cost	$ 1,700,000
Number of shopping centers owned and operated | item	100
Lessor non-cancelable operating lease agreements	20 years
Finance lease cost	$ 210,000
Finance lease, amortization expense	178,500
Finance lease, interest expense	45,100
Lease extension exercised, increase in operating lease assets and liabilities	$ 0
Operating lease weighted average remaining lease term	15 years
Operating lease weighted average discount rate	4%
Finance lease weighted average discount rate	6%

Leases (Future Maturities of Le

Leases (Future Maturities of Lease Liabilities) (Details)	Dec. 28, 2024 USD ($)
Operating Leases
Remainder of 2025	$ 4,488,048
2026	5,123,022
2027	4,557,095
2028	3,018,504
2029	2,029,928
Thereafter	15,641,087
Total lease payments	34,857,684
Less amount representing interest	8,706,906
Present value of lease liabilities	26,150,778
Finance Leases
Remainder of 2025	630,000
2026	840,000
2027	840,000
2028	840,000
2029	101,500
Total lease payments	3,251,500
Less amount representing interest	356,485
Present value of lease liabilities	$ 2,895,015

Leases (Schedule of Rental Inco

Leases (Schedule of Rental Income) (Details)	3 Months Ended
	Dec. 28, 2024 USD ($)
Property Held for Lease and Rental Income [Abstract]
Base rentals	$ 6,598,742
Variable rentals	78,502
Total	6,677,244
Depreciation on owned properties leased to others	(2,155,209)
Other shopping center expenses	(1,109,066)
Total	$ 3,412,969

Leases (Future Minimum Operatin

Leases (Future Minimum Operating Lease Receipts) (Details)	Dec. 28, 2024 USD ($)
Property Held for Lease and Rental Income [Abstract]
Remainder of 2025	$ 15,344,855
2026	16,836,353
2027	13,408,795
2028	10,845,522
2029	7,708,824
Thereafter	26,541,336
Total minimum future rental income	$ 90,685,685

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Dec. 28, 2024 segment
Segment Information [Abstract]
Number of operating segments	1

Segment Information (Operations

Segment Information (Operations by Lines of Business) (Details) - USD ($)	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Sep. 28, 2024
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	$ 1,288,114,667	$ 1,481,061,830
Total income from operations	23,571,944	59,627,409
Total assets	2,493,272,016		$ 2,527,882,715
Elimination of Intercompany Receivable [Member]
Segment Reporting Information By Segment [Line Items]
Total assets	(1,941,000)		(1,999,000)
Retail Segment [Member] | Operating Segments [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	1,245,065,000	1,425,773,000
Total income from operations	21,189,000	53,390,000
Total assets	2,162,626,000		2,198,732,000
Grocery [Member] | Operating Segments [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	477,535,000	521,805,000
Non-foods [Member] | Operating Segments [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	289,443,000	358,098,000
Perishables [Member] | Operating Segments [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	334,302,000	367,983,000
Fuel [Member] | Operating Segments [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	143,785,000	177,887,000
Other Segment [Member] | Operating Segments [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	43,050,000	55,289,000
Total income from operations	2,383,000	$ 6,237,000
Total assets	$ 332,587,000		$ 331,150,000

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] - USD ($) $ in Thousands	Dec. 28, 2024	Sep. 28, 2024
Carrying Amount [Member] | Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	$ 12,020	$ 8,931
Carrying Amount [Member] | Non-Qualified Retirement Plan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement plan assets	27,602	27,126
Fair Value [Member] | Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	12,020	8,931
Fair Value [Member] | Non-Qualified Retirement Plan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement plan assets	27,602	27,126
Senior Notes Due 2031 [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	350,000	350,000
Senior Notes Due 2031 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	307,125	317,625
Facility Bonds Due 2036 [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	49,910	49,910
Facility Bonds Due 2036 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	49,910	49,910
Secured Notes Payable and Other [Member] | Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	129,463	132,712
Secured Notes Payable and Other [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 129,463	$ 132,712

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 28, 2024
Insider Trading Arrangements [Line Items]
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