CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
9 Months Ended |
Dec. 25, 2021 |
Dec. 26, 2020 |
| Cash flows from operating activities |
|
|
| Net income |
$ 147,737
|
$ 34,834
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
19,800
|
17,919
|
| Stock-based compensation |
7,807
|
5,011
|
| Amortization of intangible assets |
54
|
67
|
| Amortization of right-of-use assets |
28,701
|
25,342
|
| Amortization and write-off of debt issuance fees and debt discount |
1,834
|
663
|
| Loss on disposal of assets |
150
|
23
|
| (Gain)/loss on adjustment of right-of-use assets and lease liabilities |
(258)
|
295
|
| Store impairment charge |
|
384
|
| Deferred taxes |
689
|
(1,150)
|
| Changes in operating assets and liabilities, net of acquisition: |
|
|
| Accounts receivable, net |
5,797
|
4,242
|
| Inventories |
(109,882)
|
42,709
|
| Prepaid expenses and other current assets |
(41,596)
|
(818)
|
| Other assets |
(608)
|
(687)
|
| Accounts payable |
84,411
|
9,753
|
| Accrued expenses and other current liabilities |
73,490
|
42,219
|
| Other liabilities |
1,306
|
789
|
| Operating leases |
(28,876)
|
(24,991)
|
| Net cash provided by operating activities |
190,556
|
156,604
|
| Cash flows from investing activities |
|
|
| Purchases of property and equipment |
(39,749)
|
(20,508)
|
| Net cash used in investing activities |
(39,749)
|
(20,508)
|
| Cash flows from financing activities |
|
|
| Payments on line of credit - net |
|
(129,900)
|
| Repayments on debt and finance lease obligations |
(112,085)
|
(487)
|
| Tax withholding payments for net share settlement |
(2,710)
|
(535)
|
| Proceeds from the exercise of stock options |
5,554
|
1,605
|
| Net cash used in financing activities |
(109,241)
|
(129,317)
|
| Net increase in cash and cash equivalents |
41,566
|
6,779
|
| Cash and cash equivalents, beginning of period |
73,148
|
69,563
|
| Cash and cash equivalents, end of period |
114,714
|
76,342
|
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid for income taxes |
41,694
|
3,684
|
| Cash paid for interest |
3,497
|
6,731
|
| Supplemental disclosure of non-cash activities: |
|
|
| Unpaid purchases of property and equipment |
$ 9,620
|
$ 3,703
|