Leases (Tables)
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9 Months Ended |
May 29, 2021 |
| Leases [Abstract] |
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| Lease, Cost |
The components of lease expense were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Thirteen Weeks Ended | | Thirty-Nine Weeks Ended | | (In thousands) | | Statements of Operations Caption | | May 29, 2021 | | May 30, 2020 | | May 29, 2021 | | May 30, 2020 | | Operating lease cost: | | | | | | | | | | | | Lease cost | | Cost of goods sold and General and administrative | | $ | 1,486 | | | $ | 1,479 | | | $ | 4,480 | | | $ | 3,726 | | Variable lease cost (1) | | Cost of goods sold and General and administrative | | 470 | | | 448 | | | 1,246 | | | 1,184 | | | Total operating lease cost | | | | 1,956 | | | 1,927 | | | 5,726 | | | 4,910 | | | | | | | | | | | | | | Short-term lease cost | | General and administrative | | — | | | 6 | | | — | | | 30 | | | | | | | | | | | | | | Finance lease cost: | | | | | | | | | | | | Amortization of right-of-use assets | | Cost of goods sold | | 69 | | | 69 | | | 205 | | | 205 | | | Interest on lease liabilities | | Interest expense | | 10 | | | 14 | | | 35 | | | 46 | | | Total finance lease cost | | | | 79 | | | 83 | | | 240 | | | 251 | | | | | | | | | | | | | | Total lease cost | | | | $ | 2,035 | | | $ | 2,016 | | | $ | 5,966 | | | $ | 5,191 | |
(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.
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| Lease assets and liabilities |
The gross amounts of assets and liabilities related to both operating and finance leases are as follows: | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Balance Sheets Caption | | May 29, 2021 | | August 29, 2020 | | Assets | | | | | | | | Operating lease right-of-use assets | | Other long-term assets | | $ | 21,957 | | | $ | 25,703 | | | Finance lease right-of-use assets | | Property and equipment, net | | 708 | | | 912 | | | Total lease assets | | | | $ | 22,665 | | | $ | 26,615 | | | | | | | | | | Liabilities | | | | | | | | Current: | | | | | | | | Operating lease liabilities | | Accrued expenses and other current liabilities | | $ | 3,851 | | | $ | 4,329 | | | Finance lease liabilities | | Current maturities of long-term debt | | 282 | | | 271 | | | Long-term: | | | | | | | | Operating lease liabilities | | Other long-term liabilities | | 20,154 | | | 22,764 | | | Finance lease liabilities | | Long-term debt, less current maturities | | 476 | | | 651 | | | Total lease liabilities | | | | $ | 24,763 | | | $ | 28,015 | |
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| Finance Lease, Liability, Maturity |
Future maturities of lease liabilities as of May 29, 2021 were as follows: | | | | | | | | | | | | | | | | (In thousands) | | Operating Leases | | Finance Leases | | Fiscal year ending: | | | | | | Remainder of 2021 | | $ | 1,467 | | | $ | 78 | | | 2022 | | 4,608 | | | 313 | | | 2023 | | 4,072 | | | 278 | | | 2024 | | 4,232 | | | 145 | | | 2025 | | 3,839 | | | — | | | Thereafter | | 11,051 | | | — | | | Total lease payments | | 29,269 | | | 814 | | | Less: Interest | | (5,264) | | | (56) | | | Present value of lease liabilities | | $ | 24,005 | | | $ | 758 | |
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| Lessee, Operating Lease, Liability, Maturity |
Future maturities of lease liabilities as of May 29, 2021 were as follows: | | | | | | | | | | | | | | | | (In thousands) | | Operating Leases | | Finance Leases | | Fiscal year ending: | | | | | | Remainder of 2021 | | $ | 1,467 | | | $ | 78 | | | 2022 | | 4,608 | | | 313 | | | 2023 | | 4,072 | | | 278 | | | 2024 | | 4,232 | | | 145 | | | 2025 | | 3,839 | | | — | | | Thereafter | | 11,051 | | | — | | | Total lease payments | | 29,269 | | | 814 | | | Less: Interest | | (5,264) | | | (56) | | | Present value of lease liabilities | | $ | 24,005 | | | $ | 758 | |
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| Schedule of Weighted Average Remaining Lease Terms |
The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases were as follows: | | | | | | | | | | | | | | | | | May 29, 2021 | | August 29, 2020 | | Weighted-average remaining lease term (in years) | | | | | | Operating leases | | 6.64 | | 6.97 | | Finance leases | | 2.68 | | 3.41 | | Weighted-average discount rate | | | | | | Operating leases | | 5.8 | % | | 5.7 | % | | Finance leases | | 5.6 | % | | 5.6 | % |
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| Schedule of Supplemental Cash Flow Information Related to Leases |
Supplemental and other information related to leases was as follows: | | | | | | | | | | | | | | | | | Thirty-Nine Weeks Ended | | (In thousands) | | May 29, 2021 | | May 30, 2020 | | Cash paid for amounts included in the measurement of lease liabilities | | | | | | Operating cash flows from operating leases | | $ | 5,619 | | | $ | 4,655 | | | Operating cash flows from finance leases | | $ | 34 | | | $ | 8 | | | Financing cash flows from finance leases | | $ | 235 | | | $ | 247 | |
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