Audit Information |
12 Months Ended |
|---|---|
Dec. 27, 2025 | |
| Audit Information [Abstract] | |
| Auditor Name | Ernst & Young LLP |
| Auditor Location | Nashville, Tennessee |
| Auditor Firm ID | 42 |
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
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| Income Statement [Abstract] | |||||
| Net sales | $ 15,524,046 | $ 14,883,231 | $ 14,555,741 | ||
| Cost of merchandise sold | 9,869,538 | 9,486,674 | 9,327,522 | ||
| Gross profit | 5,654,508 | 5,396,557 | 5,228,219 | ||
| Selling, general and administrative expenses | 3,693,108 | 3,481,863 | 3,356,258 | ||
| Depreciation and amortization | 494,011 | 447,162 | 393,049 | ||
| Operating income | 1,467,389 | 1,467,532 | 1,478,912 | ||
| Interest expense, net | 69,144 | 54,592 | 46,510 | ||
| Income before income taxes | 1,398,245 | 1,412,940 | 1,432,402 | ||
| Income tax expense | 302,158 | 311,700 | 325,176 | ||
| Net income | $ 1,096,087 | $ 1,101,240 | $ 1,107,226 | ||
| Net Income per share – basic (a) | [1] | $ 2.07 | $ 2.05 | $ 2.03 | |
| Net Income per share – diluted (a) | [1] | $ 2.06 | $ 2.04 | $ 2.02 | |
| Weighted average shares outstanding (a) | |||||
| Basic | [1] | 529,957 | 536,949 | 545,480 | |
| Diluted | [1] | 532,178 | 539,652 | 548,729 | |
| Dividends declared per common share outstanding (a) | [1] | $ 0.92 | $ 0.88 | $ 0.82 | |
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
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| Comprehensive Income [Abstract] | |||
| Net income | $ 1,096,087 | $ 1,101,240 | $ 1,107,226 |
| Change in fair value of interest rate swaps, net of taxes | (1,217) | (5,576) | (4,482) |
| Other Comprehensive Income (Loss), Net of Tax, Total | (1,217) | (5,576) | (4,482) |
| Total comprehensive income | $ 1,094,870 | $ 1,095,664 | $ 1,102,744 |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Stockholders' Equity Attributable to Parent [Abstract] | ||
| Preferred Stock, Shares Authorized | 40 | 40 |
| Preferred stock, par value (in dollars per share) | $ 1.00 | $ 1.00 |
| Preferred stock, issued (in shares) | 0 | 0 |
| Common stock, authorized (in shares) | 2,000,000 | 2,000,000 |
| Common stock, par value (in dollars per share) | $ 0.008 | $ 0.008 |
| Common stock, issued (in shares) | 890,991 | 889,548 |
| Common stock, outstanding (in shares) | 527,017 | 532,191 |
| Treasury stock, at cost (in shares) | 363,974 | 357,357 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions |
12 Months Ended |
|---|---|
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Dec. 27, 2025
USD ($)
| |
| Statement of Cash Flows [Abstract] | |
| Cash Paid For Purchase Of Transferable Federal Tax Credits | $ 168.9 |
Significant Accounting Policies |
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| Significant Accounting Policies | Significant Accounting Policies Nature of Business Founded in 1938, Tractor Supply Company (the “Company” or “Tractor Supply” or “we” or “our” or “us”) is the largest rural lifestyle retailer in the United States (“U.S.”). The Company is focused on supplying the needs of recreational farmers, ranchers, and all those who enjoy living the rural lifestyle (which we refer to as the “Out Here” lifestyle). The Company's stores are located primarily in towns outlying major metropolitan markets and in rural communities. The Company also owns and operates Petsense, LLC (“Petsense by Tractor Supply”), a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-sized communities, and offering a variety of pet products and services. At December 27, 2025, the Company operated a total of 2,602 retail stores in 49 states (2,395 Tractor Supply retail stores and 207 Petsense by Tractor Supply retail stores) and also offered an expanded assortment of products through the Tractor Supply Company mobile application and online at TractorSupply.com and Petsense.com. On December 30, 2024, the Company completed its acquisition of Allivet, an online pet pharmacy. Pursuant to the agreement governing the transaction, the Company acquired 100% of the equity interest in Allivet for a purchase price of $135.0 million. The acquisition was financed with cash on hand from the balance sheet. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). Fiscal Year The Company’s fiscal year ends on the last Saturday of the calendar year. The fiscal years ended December 27, 2025 and December 28, 2024, and December 30, 2023 each consisted of 52 weeks. Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Stock Split On December 5, 2024, the Company’s Board of Directors authorized a five-for-one forward split (the “Stock Split”) of the Company’s outstanding shares of common stock, par value $0.008 per share. On December 20, 2024, stockholders of record at the close of business on December 16, 2024, received four additional shares of common stock for each share owned by such stockholder. The Certificate of Amendment to the Company’s Restated Certificate of Incorporation filed on December 19, 2024 effected the Stock Split and also proportionately increased the number of authorized common shares from 400.0 million to 2.00 billion. The par value of each share was not changed. All share and per-share information herein has been retroactively restated to reflect the Stock Split. Management Estimates The preparation of Consolidated Financial Statements in conformity with U.S. GAAP inherently requires estimates and assumptions by management of the Company that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures. Actual results could differ from those estimates. Significant estimates and assumptions by management primarily impact the following key financial statement areas: Inventory Valuation Inventory Impairment Risk The Company identifies potentially excess and slow-moving inventory by evaluating turn rates, historical and expected future sales trends, age of merchandise, overall inventory levels, current cost of inventory, and other benchmarks. The Company has established an inventory valuation reserve to recognize the estimated impairment in value (i.e., an inability to realize the full carrying value) based on the Company’s aggregate assessment of these valuation indicators under prevailing market conditions and current merchandising strategies. The Company does not believe its merchandise inventories are subject to significant risk of obsolescence in the near term; however, changes in market conditions or consumer purchasing patterns could result in the need for additional reserves. Shrinkage The Company typically performs physical inventories at least once a year for each store that has been open more than 12 months, and the Company has established a reserve for estimating inventory shrinkage between physical inventory counts. The reserve is established by assessing the chain-wide average shrinkage experience rate, applied to the related periods’ sales volumes. Such assessments are updated on a regular basis for the most recent individual store experiences. The estimated store inventory shrink rate is based on historical experience. The Company believes historical rates are a reasonably accurate reflection of future trends. Vendor Funding The Company receives funding from substantially all of its significant merchandise vendors, in support of its business initiatives, through a variety of programs and arrangements including guaranteed vendor support funds (“vendor support”) and volume-based rebate funds (“volume rebates”). The amounts received are subject to terms of vendor agreements, most of which are “evergreen,” reflecting the on-going relationship with our significant merchandise vendors. Certain of the Company’s agreements, primarily volume rebates, are renegotiated annually based on expected annual purchases of the vendor’s product. Vendor funding is initially deferred as a reduction of the purchase price of inventory, and then recognized as a reduction of the cost of merchandise sold as the related inventory is sold. During interim periods, the amount of vendor support and volume rebates is estimated based upon initial commitments and anticipated purchase levels with applicable vendors. The estimated purchase volume (and related vendor funding) is based on the Company’s current knowledge of inventory levels, sales trends, and expected customer demand, as well as planned new store openings and relocations. The amounts accrued and the related inventory valuation effects are adjusted at fiscal year-end based on actual purchase volumes coinciding with calendar year vendor agreements. Such adjustments are not significant. Self-Insurance Reserves The Company self-insures a significant portion of its workers’ compensation and general liability (including product liability) insurance plans. The Company has stop-loss insurance policies to protect it from individual losses over specified dollar values. Our deductible or self-insured retention, as applicable, for each claim involving general liability insurance is limited to $1,000,000. Our deductible for self-insured retention, as applicable, for each claim involving workers’ compensation insurance and our Texas Work Injury Policy is limited to $500,000. Further, we maintain a commercially reasonable umbrella/excess policy that covers liabilities in excess of the primary insurance policy limits. The full extent of certain workers’ compensation and general liability claims may not become fully determined for several years. Therefore, the Company estimates potential obligations based upon historical claims experience, loss development factors, severity factors, and other actuarial assumptions. Any significant change in the number of claims or costs associated with claims made under these plans could have a material effect on the Company’s financial results. Insurance reserves for workers' compensation were $89.7 million and $85.1 million as of December 27, 2025 and December 28, 2024, respectively. Insurance reserves for general liability plans were $63.5 million and $61.4 million as of December 27, 2025 and December 28, 2024, respectively. In addition, insurance receivables recorded in Other assets on the Consolidated Balance Sheets for claims greater than our insurance stop-loss limits were $27.3 million and $26.2 million as of December 27, 2025 and December 28, 2024, respectively. Impairment of Long-Lived Assets Long-lived assets, including lease right-of-use assets, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. When evaluating long-lived assets for potential impairment, the Company first compares the carrying value of the asset or asset group to its estimated undiscounted future cash flows. The evaluation for long-lived assets is performed at the lowest level of identifiable cash flows, which is generally the individual store level. The significant assumptions used to determine estimated undiscounted cash flows include cash inflows and outflows directly resulting from the use of those assets in operations, including margin on net sales, payroll and related items, occupancy costs, insurance allocations, and other costs to operate a store. If the estimated future cash flows are less than the carrying value of the related asset, the Company calculates an impairment loss. The impairment loss calculation compares the carrying value of the related asset or asset group to its estimated fair value, which may be based on an estimated future cash flow model, market valuation, or other valuation technique as appropriate. The Company recognizes an impairment loss if the amount of the asset’s carrying value exceeds the asset’s estimated fair value. If the Company recognizes an impairment loss, the adjusted carrying amount of the asset becomes its new cost basis. For a depreciable long-lived asset, the new cost basis will be depreciated (amortized) over the remaining estimated useful life of that asset. No significant impairment charges were recognized in fiscal 2025, 2024, or 2023 related to long-lived assets. Impairment of Goodwill and Indefinite-Lived Intangible Assets Goodwill and other indefinite-lived intangible assets are evaluated for impairment annually, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Our annual impairment evaluation is conducted on the first day of our fiscal fourth quarter. In accordance with the accounting standards, an entity has the option first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that goodwill or an indefinite-lived intangible asset is impaired. If after such assessment an entity concludes that the asset is not impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the asset using a quantitative impairment test, and if impaired, the associated assets must be written down to fair value. The quantitative impairment test for goodwill compares the fair value of a reporting unit with the carrying value of its net assets, including goodwill. If the fair value of the reporting unit is less than the carrying value of the reporting unit, an impairment charge would be recorded to the Company’s operations for the amount in which the carrying amount exceeds the reporting unit’s fair value. We determine fair values for each reporting unit using the market approach (when available and appropriate), the income approach, or a combination of both. The income approach involves forecasting projected financial information (such as revenue growth rates, profit margins, tax rates, and capital expenditures) and selecting a discount rate that reflects the risk inherent in estimated future cash flows. Under the market approach, the fair value is based on observed market data. If multiple valuation methodologies are used, the results are weighted appropriately. The quantitative impairment test for other indefinite-lived intangible assets involves comparing the carrying amount of the asset to the sum of the discounted cash flows expected to be generated by the asset. If the implied fair value of the indefinite-lived intangible asset is less than the carrying value, an impairment charge would be recorded to the Company’s operations. No impairment charges were recognized in fiscal 2025, 2024, or 2023 related to goodwill or indefinite-lived intangible assets. Revenue Recognition and Sales Returns The Company recognizes revenue at the time the customer takes possession of merchandise. If the Company receives payment before completion of its customer obligations (as per the Company’s special order and layaway programs), the revenue is deferred until the customer takes possession of the merchandise and the sale is complete. The Company is required to collect certain taxes and fees from customers on behalf of government agencies and remit such collections to the applicable governmental agency on a periodic basis. These taxes and fees are collected from customers at the time of purchase but are not included in net sales. The Company records a liability upon collection from the customer and relieves the liability when payments are remitted to the applicable governmental agency. The Company estimates a liability for sales returns based on a rolling average of historical return trends, and the Company believes that its estimate for sales returns is an accurate reflection of future returns associated with past sales. However, as with any estimate, refund activity may vary from estimated amounts. The Company had a liability for sales returns of $18.2 million and $18.9 million as of December 27, 2025 and December 28, 2024, respectively. The Company recognizes revenue when a gift card or merchandise return card is redeemed by the customer and recognizes income when the likelihood of the gift card or merchandise return card being redeemed by the customer is remote (referred to as “breakage”). The gift cards and merchandise return cards breakage rate is based upon historical redemption patterns and income is recognized for unredeemed gift cards and merchandise return cards over time in proportion to actual gift card redemptions. The Company recognized breakage income of $12.2 million, $8.2 million, and $4.6 million in fiscal 2025, 2024, and 2023, respectively. The Company offers a points-based Neighbor’s Club loyalty program to its customers. The points earned by customers can be redeemed for free services or discounts on future purchases. The Company defers the estimated standalone selling price of points related to the loyalty program as a reduction to revenue and establishes a corresponding liability in deferred revenue on the Consolidated Balance Sheets. The estimated selling price of each point is based on the standard value per point (1 point is equivalent to $0.01), net of points not expected to be redeemed, based on historical redemption. When points are relieved (redeemed, expired, cancelled, etc.), revenue is recognized with a corresponding reduction to the program liability. The Company had a liability for the loyalty program of $24.3 million and $17.9 million as of December 27, 2025 and December 28, 2024, respectively. Cost of Merchandise Sold Cost of merchandise sold includes the total cost of products sold; freight and duty expenses associated with moving merchandise inventories from vendors to distribution facilities, from distribution facilities to retail stores, from one distribution facility to another, and directly to our customers; tariffs on imported products; vendor support; damaged, junked or defective product; cash discounts from payments to merchandise vendors; and adjustments for shrinkage (physical inventory losses), lower of cost or net realizable value, slow moving product, and excess inventory quantities. Selling, General and Administrative Expenses SG&A expenses include payroll and benefit costs for retail, distribution facility, and corporate team members; share-based compensation expenses; occupancy costs of retail, distribution, and corporate facilities; advertising costs; tender costs, including bank charges and costs associated with credit and debit card interchange fees; outside service fees; and other administrative costs such as computer maintenance, supplies, travel, and lodging. Advertising Costs Advertising costs consist of expenses incurred in connection with digital and social media offerings, television, newspaper circulars, and customer-targeted direct e-mail and direct mail, as well as limited events through radio and other media channels. Costs are expensed when incurred with the exception of television advertising and circular and direct mail promotions, which are expensed upon first showing. Advertising expenses were approximately $107.7 million, $95.2 million, and $87.1 million for fiscal 2025, 2024, and 2023, respectively. Warehousing and Distribution Facility Costs Costs incurred at the Company’s distribution facilities for receiving, warehousing, and preparing product for delivery are expensed as incurred and are included in SG&A expenses in the Consolidated Statements of Income. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin. Distribution facility costs including depreciation were approximately $502.8 million, $479.4 million, and $450.6 million for fiscal 2025, 2024, and 2023, respectively. Pre-Opening Costs Non-capital expenditures incurred in connection with opening new stores, primarily payroll and rent, are expensed as incurred. Pre-opening costs were approximately $17.8 million, $9.7 million, and $13.2 million for fiscal 2025, 2024, and 2023, respectively. Share-Based Compensation The Company has share-based compensation plans covering certain members of management and non-employee directors, which include non-qualified stock options, restricted stock units, and performance-based restricted share units. Performance-based restricted share units are subject to performance conditions that include both Company and market performance. In addition, the Company offers an Employee Stock Purchase Plan (“ESPP”) to eligible team members. The Company estimates the fair value of its stock option awards at the date of grant utilizing a Black-Scholes option pricing model. The Black-Scholes option valuation model was developed for use in estimating the fair value of short-term traded options that have no vesting restrictions and are fully transferable. However, key assumptions used in the Black-Scholes model are adjusted to incorporate the unique characteristics of the Company’s stock option awards. Option pricing models and generally accepted valuation techniques require management to make subjective assumptions including expected stock price volatility, expected dividend yield, risk-free interest rate, expected term, and forfeiture rates. The Company relies on historical volatility trends to estimate future volatility assumptions. The risk-free interest rates used were actual U.S. Treasury Constant Maturity rates for bonds matching the expected term of the option on the date of grant. The expected term of the option on the date of grant was estimated based on the Company’s historical experience for similar options. The forfeiture rate at the time of valuation was estimated based on historical experience for similar options and reduces expense ratably over the vesting period. The Company adjusts this estimate periodically, based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. The fair value of the Company’s restricted stock units is the closing stock price of the Company’s common stock the day preceding the grant date, discounted for the expected dividend yield over the term of the award. The fair value of the Company's performance-based restricted share units is estimated using a Monte Carlo simulation model on the grant date. Key assumptions used in the Monte Carlo simulation include expected volatility, dividend yield and risk-free interest rate. The Company believes its estimates are reasonable in the context of historical experience. Future results will depend on, among other matters, levels of share-based compensation granted in the future, actual forfeiture rates, and the timing of option exercises. Depreciation and Amortization Depreciation includes expenses related to all retail, distribution facility, and corporate assets. Amortization includes expenses related to finance lease assets and definite-lived identifiable intangible assets. Income Taxes The Company uses the asset and liability method to account for income taxes whereby deferred tax assets and liabilities are determined based on differences between the financial carrying amounts of assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates and laws that are anticipated to be in effect when temporary differences reverse or are settled. The effect of a tax rate change is recognized in the period in which the law is enacted in the provision for income taxes. The Company records a valuation allowance when it is more likely than not that a deferred tax asset will not be realized. Tax Contingencies The Company’s income tax returns are periodically audited by U.S. federal and state tax authorities. These audits include questions regarding tax filing positions, including the timing and amount of deductions and the allocation of income among various tax jurisdictions. At any time, multiple tax years are subject to audit by the various tax authorities. In evaluating the exposures associated with the Company’s various tax filing positions, the Company records a liability for uncertain tax positions taken or expected to be taken in a tax return. A number of years may elapse before a particular matter, for which the Company has established a reserve, is audited and fully resolved or clarified. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company adjusts its tax contingencies reserve and income tax provision in the period in which actual results of a settlement with tax authorities differs from the established reserve, the statute of limitations expires for the relevant tax authority to examine the tax position, or when more information becomes available. Sales Tax Audit Reserve A portion of the Company’s sales are to tax-exempt customers, predominantly agricultural-based. The Company obtains exemption information as a necessary part of each tax-exempt transaction. Many of the states in which the Company conducts business will perform audits to verify the Company’s compliance with applicable sales tax laws. The business activities of the Company’s customers and the intended use of the unique products sold by the Company create a challenging and complex tax compliance environment. These circumstances also create some risk that the Company could be challenged as to the accuracy of the Company’s sales tax compliance. The Company reviews past audit experience and assessments with applicable states to continually determine if it has potential exposure for non-compliance. Any estimated liability is based on an initial assessment of compliance risk and historical experience with each state. The Company continually reassesses the exposure based on historical audit results, changes in policies, preliminary and final assessments made by state sales tax auditors, and additional documentation that may be provided to reduce the assessment. The reserve for these tax audits can fluctuate depending on numerous factors, including the complexity of agricultural-based exemptions, the ambiguity in state tax regulations, the number of ongoing audits, and the length of time required to settle with the state taxing authorities. Net Income Per Share The Company presents both basic and diluted net income per share on the Consolidated Statements of Income. Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average diluted shares outstanding during the period. Dilutive shares are computed using the treasury stock method for share-based awards. Performance-based restricted share units are included in diluted shares only if the related performance conditions have been considered satisfied as of the end of the reporting period. Cash and Cash Equivalents Temporary cash investments, with a maturity of three months or less when purchased, are considered to be cash equivalents. The majority of payments due from banks for customer credit cards are classified as cash and cash equivalents, as they generally settle within 24 - 48 hours. Sales generated through the Company’s private label credit cards are not reflected as accounts receivable. Under an agreement with Citi Cards, a division of Citigroup, consumer and business credit is extended directly to customers by Citigroup. All credit program and related services are performed and controlled directly by Citigroup. Payments due from Citigroup are classified as cash and cash equivalents as they generally settle within 24 - 48 hours. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: •Level 1 - defined as observable inputs such as quoted prices in active markets; •Level 2 - defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and •Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s financial instruments consist of cash and cash equivalents, short-term credit card receivables, trade payables, and debt instruments. Due to their short-term nature, the carrying values of cash and cash equivalents, short-term credit card receivables, and trade payables approximate current fair value at each balance sheet date. As described in further detail in Note 5 to the Consolidated Financial Statements, the Company had $1.78 billion and $1.85 billion in borrowings under its debt facilities at December 27, 2025 and December 28, 2024, respectively. The fair value of the Company’s $150 million 3.70% Senior Notes due 2029 (the “3.70% Senior Notes”) and the borrowings under the Company’s revolving credit facility (the “Revolving Credit Facility”) were determined based on market interest rates (Level 2 inputs). The carrying value of borrowings in the 3.70% Senior Notes and the Revolving Credit Facility approximate fair value for each period reported. The fair value of the Company’s $650 million 1.750% Senior Notes due 2030 (the “1.75% Senior Notes”) and $750 million 5.250% Senior Notes due 2033 (the “5.25% Senior Notes”) are determined based on quoted prices in active markets, which are considered Level 1 inputs. The carrying value and the fair value of the 1.75% Senior Notes and the 5.25% Senior Notes, net of discounts, were as follows (in thousands):
The Company's interest rate swap is carried at fair value, which is determined based on the present value of expected future cash flows using forward rate curves, which is considered a Level 2 input. In accordance with hedge accounting, the gains and losses on interest rate swaps that are designated and qualify as cash flow hedges are recorded as a component of Other Comprehensive Income, net of related income taxes, and reclassified into earnings in the same income statement line and period in which the hedged transactions affect earnings. The interest rate swap agreement matured in the first quarter of fiscal 2025. The fair value of the interest rate swap, excluding accrued interest, was as follows (in thousands):
Derivative Financial Instruments The Company accounts for derivative financial instruments in accordance with applicable accounting standards for such instruments and hedging activities, which require that all derivatives are recorded on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge a certain portion of its risk, even though hedge accounting does not apply or the Company elects not to apply the hedge accounting standards. The Company’s interest rate swap agreement matured in the first quarter of fiscal 2025. The Company has no outstanding derivative financial instruments as of December 27, 2025. Inventories Inventories are stated at the lower of cost, as determined by the moving average cost method, or net realizable value. Inventory cost consists of the direct cost of merchandise including freight, duties, and tariffs. Inventories are net of shrinkage, obsolescence, other valuations, and vendor allowances. Property and Equipment Property and equipment are initially recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. Improvements to leased premises are amortized using the straight-line method over the remaining term of the lease or the useful life of the improvement, whichever is less. The following table summarizes the Company's property and equipment balances and includes the estimated useful lives which are generally applied (in thousands, except estimated useful lives):
Capitalized Software Costs The Company capitalizes certain costs related to the acquisition and development of software and amortizes these costs using the straight-line method over the estimated useful life of the software, which is to seven years. Computer software consists of software developed for internal-use and third-party software purchased for internal-use. A subsequent addition, modification, or upgrade to internal-use software is capitalized to the extent that it enhances the software’s functionality or extends its useful life. These costs are included in property and equipment in the accompanying Consolidated Balance Sheets. Certain software costs not meeting the criteria for capitalization are expensed as incurred. Store Closing Costs The Company regularly evaluates the performance of its stores and periodically closes those stores that are underperforming. The Company records a liability for costs associated with an exit or disposal activity when the liability is incurred, usually in the period the store closes. Store closing costs were not significant to the results of operations for any of the fiscal years presented. Leases Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment, if any, of operating lease assets. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates corresponding to the reasonably certain lease term. As substantially all of our leases do not provide an implicit rate, we estimate our collateralized incremental borrowing rate based upon a Company specific credit rating and yield curve analysis at commencement or modification date in determining the present value of lease payments. Assets under finance leases are amortized in accordance with the Company’s normal depreciation policy for owned assets or over the lease term, if shorter, and the related charge to operations is included in depreciation expense in the Consolidated Statements of Income. Supplier Finance Program The Company has an agreement with a third-party financial institution that allows certain participating suppliers the ability to finance payment obligations from the Company. The third-party financial institution has separate arrangements with the Company’s suppliers and provides them with the option to request early payment for invoices confirmed by the Company. The Company does not determine the terms or conditions of the arrangement between the third-party and its suppliers and receives no compensation from the third-party financial institution. The Company’s obligation to its suppliers, including amounts due and scheduled payment dates, are not impacted by the suppliers’ decisions to finance amounts under the arrangement. The Company’s outstanding payment obligations under the supplier finance program, which are included in on the Company’s Consolidated Balance Sheets, were $30.6 million and $34.8 million at December 27, 2025 and December 28, 2024, respectively. A reconciliation of the beginning and ending payment obligations under the supplier finance program is as follows (in thousands):
Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The Company adopted this ASU in fiscal 2025. New Accounting Pronouncements Not Yet Adopted In September 2025, the FASB issued ASU 2025-06, “Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40).” The ASU is intended to improve and modernize the accounting for software costs to better align with the evolution of software development. The ASU is required to be adopted for fiscal years beginning after December 15, 2027 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted as of the beginning of an annual reporting period. The amendments should be applied on a prospective transition basis to financial statements issued for reporting periods after the effective date of the update, on a modified transition approach that is based on the status of the project and whether software costs were capitalized before the date of adoption, or on a retrospective transition basis to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption on its financial statements. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The ASU is intended to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The ASU is required to be adopted for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied on either a prospective basis to financial statements issued for reporting periods after the effective date of the update, or on a retrospective basis to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption on its financial disclosures.
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Share Based Compensation |
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| Share-Based Payment Arrangement, Noncash Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation expense | Share-Based Compensation Share-based compensation includes stock options, restricted stock units, performance-based restricted share units, and certain transactions under the Company’s ESPP. Share-based compensation expense is recognized based on the grant date fair value of all stock options, restricted stock units, and performance-based restricted share units. Share based compensation expense is also recognized for the value of the 15% discount on shares purchased by employees as a part of the ESPP. The discount under the ESPP represents the difference between the market value on the first day of the purchase period or the market value on the purchase date, whichever is lower, and the employee’s purchase price. There were no significant modifications to the Company's share-based compensation plans since the adoption of the 2018 Omnibus Incentive Plan (the “2018 Plan”) on May 10, 2018, which replaced the 2009 Stock Incentive Plan. Following the adoption of the 2018 Plan, no further grants may be made under the 2009 Stock Incentive Plan. Under our share-based compensation plans, awards may be granted to officers, non-employee directors, and other employees. The per share exercise price of options granted shall not be less than the fair market value of the stock on the date of grant and such awards will expire no later than years from the date of grant. Vesting of awards commences at various anniversary dates following the dates of each grant. Performance-based awards will vest if established performance conditions are met subject to continued employment. Certain performance-based awards are also subject to a market condition such that the actual number of shares vesting are further modified based on the achievement of a relative stockholder return modifier. At December 27, 2025, the Company had approximately 35.3 million shares available for future equity awards under the Company’s 2018 Plan. Share-based compensation expense of awards was $57.1 million, $48.4 million, and $57.0 million for fiscal 2025, 2024, and 2023, respectively. Stock Options The fair value is separately estimated for each option grant. The fair value of each option is recognized as compensation expense ratably over the vesting period. The Company has estimated the fair value of all stock option awards as of the date of the grant by applying a Black-Scholes pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense. The ranges of key assumptions used in determining the fair value of options granted during fiscal 2025, 2024, and 2023, as well as a summary of the methodology applied to develop each assumption, are as follows:
Expected Price Volatility — This is a measure of the amount by which a price has fluctuated or is expected to fluctuate. The Company calculates the expected price volatility based on the historical volatility of the Company’s stock price, as well as implied volatility. To calculate historical changes in market value, the Company uses daily market value changes from the date of grant over a past period generally representative of the expected life of the options to determine volatility. The Company believes the use of a blended volatility provides an appropriate indicator of future volatility. An increase in the expected volatility will increase compensation expense. Risk-Free Interest Rate — This is the U.S. Treasury Constant Maturity rate over a term equal to the expected term of the option. An increase in the risk-free interest rate will increase compensation expense. Weighted Average Expected Term — This is the period of time over which the options granted are expected to remain outstanding and is based on historical experience. Options granted generally have a maximum term of years. An increase in the expected term will increase compensation expense. Forfeiture Rate — This is the estimated percentage of options granted that are expected to be forfeited or canceled before becoming fully vested. This estimate is based on historical experience. An increase in the forfeiture rate will decrease compensation expense. Dividend Yield — This is the estimated dividend yield for the weighted average expected term of the option granted. An increase in the dividend yield will decrease compensation expense. The Company issues shares for options when exercised. A summary of stock option activity is as follows:
The aggregate intrinsic values in the table above represent the total difference between the Company’s closing stock price at each year-end and the option exercise price, multiplied by the number of in-the-money options at each year-end. As of December 27, 2025, total unrecognized compensation expense related to non-vested stock options was approximately $8.7 million with a weighted average expense recognition period of 1.8 years. There were no material modifications to options in fiscal 2025, 2024, or 2023. Other information relative to options activity during fiscal 2025, 2024, and 2023 is as follows (in thousands):
Restricted Stock Units The Company issues shares for restricted stock units once vesting occurs and related restrictions lapse. The fair value of the restricted stock units is the closing price of the Company’s common stock the day preceding the grant date, discounted for the expected dividend yield over the term of the award. The units generally vest over a to -year term. Some plan participants have elected to defer receipt of shares of common stock upon vesting of restricted stock units, and as a result, those shares are not issued until a later date. A summary of restricted stock unit activity is presented below:
As of December 27, 2025, total unrecognized compensation expense related to non-vested restricted stock units was approximately $65.4 million with a weighted average expense recognition period of 2.2 years. There were no material modifications to restricted stock units in fiscal 2025, 2024, or 2023. Other information relative to restricted stock unit activity during fiscal 2025, 2024, and 2023 is as follows (in thousands):
Performance-Based Restricted Share Units We issue performance-based restricted share units to senior executives that represent shares potentially issuable in the future, subject to the achievement of specified performance goals. The performance metrics for the units are growth in net sales and growth in earnings per diluted share over a specified performance period. The performance metrics for the performance-based restricted share units also include a relative total shareholder return (“TSR”) modifier such that the actual number of shares that vest at the end of the respective three-year period is determined based on the Company's TSR performance relative to the constituents of the S&P 500 as well as the level of achievement of the performance goals. If the performance targets are achieved, the performance-based restricted share units will be issued based on the achievement level, inclusive of the relative TSR modifier and the grant date fair value, and will cliff vest in full on the third anniversary of the date of the grant. The fair value of the performance-based restricted share units is estimated using a Monte Carlo simulation model on the grant date. Key assumptions used in the Monte Carlo simulation for the performance shares with a TSR modifier granted during fiscal 2025 and during fiscal 2024 are presented below:
A summary of performance-based restricted share unit activity is presented below:
(a) Assumes 100% target level achievement of the relative performance targets. The actual number of shares that will be issued, which may be higher or lower than the target, will be determined by the level of achievement of the relative performance targets, inclusive of the TSR modifier. (b) Shares adjusted for performance-based restricted share unit awards settled during fiscal 2025 based on actual achievement of performance targets. As of December 27, 2025, total unrecognized compensation expense related to non-vested performance-based restricted share units was approximately $26.7 million with a weighted average expense recognition period of 3.3 years. There were no material modifications to performance-based restricted share units in fiscal 2025, 2024, or 2023. Other information relative to performance-based restricted share unit activity during fiscal 2025 is as follows (in thousands):
Shares Withheld to Satisfy Tax Withholding Requirements For the majority of restricted stock units and performance-based restricted share units and certain stock options granted, the number of shares issued on the date the stock awards vest or the number of stock options being exercised is net of shares withheld by the Company to satisfy the minimum statutory tax withholding requirements, which the Company pays on behalf of its employees. The Company issued 686,655, 1,180,731, and 1,134,940 shares as a result of vested restricted stock units and performance-based restricted share units, as well as exercised stock options during fiscal 2025, 2024, and 2023, respectively. Although shares withheld are not issued, they are treated similar to common stock repurchases as they reduce the number of shares that would have been issued upon vesting. The amounts are net of 298,147, 524,204, and 531,365 shares withheld to satisfy $16.1 million, $24.6 million, and $24.4 million of employees’ tax obligations during fiscal 2025, 2024, and 2023, respectively. Employee Stock Purchase Plan The ESPP provides Company employees the opportunity to purchase, through payroll deductions, shares of common stock at a 15% discount. Pursuant to the terms of the ESPP, the Company issued 241,415, 219,330, and 225,790 shares of common stock during fiscal 2025, 2024, and 2023, respectively. The total cost related to the ESPP, including the compensation expense calculations, was approximately $2.7 million, $2.0 million, and $1.9 million in fiscal 2025, 2024, and 2023, respectively. There is a maximum of 16.0 million shares of common stock that are reserved under the ESPP. At December 27, 2025, there were approximately 11.2 million remaining shares of common stock reserved for future issuance under the ESPP.
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Acquisition of Allivet |
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| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisition of Allivet | Acquisition of Allivet On December 30, 2024, the Company completed its acquisition of Allivet, an online pet pharmacy. Pursuant to the agreement governing the transaction, the Company acquired 100% of the equity interest in Allivet for a purchase price of $135.0 million, which excludes adjustments for working capital, acquired cash, and other transaction related payments. The acquisition was financed with cash on hand from the balance sheet. Allocation of the Purchase Price The Company has applied the acquisition method of accounting for the Allivet acquisition, in accordance with Accounting Standards Codification 805 “Business Combinations,” with respect to the identifiable assets and liabilities of Allivet which have been measured at estimated fair value as of the date of the business combination. The aggregate purchase price noted above was allocated to the identifiable assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date, primarily using Level 2 and Level 3 inputs. Level 2 and Level 3 inputs are described in further detail in Note 1 - Significant Accounting Policies. These fair value estimates represent management’s best estimate of future cash flows (including sales, cost of sales, income taxes, etc.), discount rates, competitive trends, market comparables, and other factors. Inputs used were generally determined from historical data supplemented by current and anticipated market conditions and growth rates. The amount of consideration transferred that exceeds the fair value of the identifiable assets, net of liabilities, is recorded as goodwill, which is indicative of the expected synergies the acquisition of Allivet will bring to the Company’s portfolio offering for companion animal, equestrian, and livestock customers, and the additional growth opportunities expected to open up as a result of acquiring Allivet. The final fair value determination of the identifiable assets acquired and liabilities assumed was completed in the third quarter of fiscal 2025. The following table sets forth the final purchase price allocation of Allivet’s net assets acquired on December 30, 2024.
Transaction costs related to the Allivet acquisition were expensed as incurred and are included in selling, general, and administrative expenses in the Consolidated Statements of Income. The results of operations of Allivet have been included in the Consolidated Financial Statements since the date of acquisition.
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Goodwill and Other Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Other Intangible Assets Goodwill The changes in the carrying amount of goodwill for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 are as follows (in thousands):
Goodwill is allocated to each identified reporting unit, which is defined as an operating segment or one level below the operating segment. Goodwill is not amortized but is evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The Company's annual impairment evaluation is conducted on the first day of the fiscal fourth quarter. In the fourth quarter of fiscal 2025, 2024 and 2023, the Company completed its annual impairment assessment of goodwill for all reporting units. As part of this analysis, the Company assessed the current environment to determine if there were any indicators of impairment and concluded that while there have been events and circumstances in the macro-environment that have impacted the Company's business, there were not any entity-specific indicators of impairment of goodwill that would require the Company to perform a quantitative impairment assessment. Therefore, there were no impairment charges related to goodwill being recognized in fiscal 2025, 2024 or 2023. Other Intangible Assets The Company had approximately $52.0 million and $23.1 million of intangible assets other than goodwill at December 27, 2025, and both December 28, 2024 and December 30, 2023, respectively. The intangible asset balance represents the carrying value of certain indefinite-lived assets, which are not subject to amortization as they have an indefinite useful life on the basis that they are expected to contribute cash flows beyond the foreseeable horizon, and certain definite-lived assets. These assets are evaluated for impairment annually and whenever events or changes in circumstances indicate the carrying value of the asset may not be recoverable. The Company's annual impairment evaluation is conducted on the first day of the fiscal fourth quarter. In the fourth quarter of fiscal 2025, 2024 and 2023, the Company completed its annual impairment assessment of intangible assets. As part of this analysis, the Company assessed the current environment to determine if there were any indicators of impairment and concluded there were no indicators of impairment of intangible assets that would require the Company to perform a quantitative impairment assessment. Therefore, there were no impairment charges related to intangible assets recognized in fiscal 2025, 2024 or 2023.
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Debt |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt | Debt The following table summarizes the Company’s outstanding debt as of the dates indicated (in millions):
5.25% Senior Notes due 2033 On May 5, 2023, the Company completed the sale of $750 million aggregate principal amount of its 5.25% Senior Notes. The entire principal amount of the 5.25% Senior Notes is due in full on May 15, 2033. Interest is payable semi-annually in arrears on each May 15 and November 15. The terms of the 5.25% Senior Notes are governed by an indenture dated as of October 30, 2020 between the Company and Regions Bank, as trustee, as amended and supplemented by a second supplemental indenture dated as of May 5, 2023 (the “Second Supplemental Indenture”) between the Company and Regions Bank, as trustee. The 5.25% Senior Notes are senior unsecured debt obligations of the Company and rank equally with the Company’s other senior unsecured liabilities and senior to any future subordinated indebtedness of the Company. The 5.25% Senior Notes are subject to customary covenants restricting the Company’s ability, subject to certain exceptions, to incur debt secured by liens, to enter into sale and leaseback transactions or to merge or consolidate with another entity or sell substantially all of its assets to another person. At any time prior to February 15, 2033 (three months prior to the maturity date of the 5.25% Senior Notes), the Company has the right, at its option, to redeem the 5.25% Senior Notes, in whole or in part, at any time and from time to time, by paying the greater of 100% of the principal amount of the 5.25% Senior Notes to be redeemed, or the sum of the present values of the remaining scheduled payments of principal and interest through the par call date, plus, in each case, accrued and unpaid interest to, but not including, the date of redemption. In addition, on or after February 15, 2033, the Company has the right, at its option, to redeem the 5.25% Senior Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 5.25% Senior Notes to be redeemed, plus accrued and unpaid interest to, but not including, the date of redemption. If a Change of Control Triggering Event (as defined in the Second Supplemental Indenture) occurs, unless the Company has exercised its right to redeem the 5.25% Senior Notes, holders of the 5.25% Senior Notes may require the Company to repurchase all or any part of such holder’s 5.25% Senior Notes at a purchase price of 101% of the principal amount, plus accrued and unpaid interest, if any, on such 5.25% Senior Notes to, but not including, the purchase date. Upon the occurrence of an event of default with respect to the 5.25% Senior Notes, which includes payment defaults, defaults in the performance of certain covenants, cross defaults, and bankruptcy and insolvency related defaults, the Company’s obligations under the 5.25% Senior Notes may be accelerated, in which case the entire principal amount of the 5.25% Senior Notes would be due and payable immediately. 1.75% Senior Notes due 2030 On October 30, 2020, the Company issued and sold, in a public offering, $650 million in aggregate principal amount of senior unsecured notes due November 1, 2030 bearing interest at 1.75% per annum (the “1.75% Senior Notes”). The entire principal amount of the 1.75% Senior Notes is due in full on November 1, 2030. Interest is payable semi-annually in arrears on each November 1 and May 1. The terms of the 1.750% Notes are governed by an indenture dated as of October 30, 2020 (the “Base Indenture”) between the Company and Regions Bank, as trustee, as amended and supplemented by a first supplemental indenture dated as of October 30, 2020 (the “First Supplemental Indenture”) between the Company and Regions Bank, as trustee. The 1.75% Senior Notes are senior unsecured debt obligations of the Company and will rank equally with the Company’s other senior unsecured liabilities and senior to any future subordinated indebtedness of the Company. The 1.75% Senior Notes are subject to customary covenants restricting the Company’s ability, subject to certain exceptions, to incur debt secured by liens, to enter into sale and leaseback transactions or to merge or consolidate with another entity or sell substantially all of its assets to another person. At any time prior to August 1, 2030, the Company will have the right, at its option, to redeem the 1.75% Senior Notes, in whole or in part, at any time and from time to time, by paying the greater of 100% of the principal amount of the 1.75% Senior Notes to be redeemed, or the sum of the present values of the remaining scheduled payments of principal and interest through the par call date, plus, in each case, accrued and unpaid interest to, but not including, the date of redemption. In addition, on or after August 1, 2030, the Company will have the right, at its option, to redeem the 1.75% Senior Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 1.75% Senior Notes to be redeemed, plus accrued and unpaid interest to, but not including, the date of redemption. If a Change of Control Triggering Event (as defined in the First Supplemental Indenture) occurs, unless the Company has exercised its right to redeem the 1.75% Senior Notes, holders of the 1.75% Senior Notes may require the Company to repurchase all or any part of such holder’s 1.75% Senior Notes at a purchase price of 101% of the principal amount, plus accrued and unpaid interest, if any, on such 1.75% Senior Notes to, but not including, the purchase date. Upon the occurrence of an event of default with respect to the 1.75% Senior Notes, which includes payment defaults, defaults in the performance of certain covenants, cross defaults, and bankruptcy and insolvency related defaults, the Company’s obligations under the 1.75% Senior Notes may be accelerated, in which case the entire principal amount of the 1.75% Senior Notes would be due and payable immediately. Senior Note Facility (including 3.70% Senior Notes due 2029) On August 14, 2017, the Company entered into a note purchase and private shelf agreement, by and among the Company, PGIM, Inc. (“Prudential”), and other holders of the notes (the “Note Purchase Agreement” and collectively as amended through November 2, 2022, the “Note Purchase Facility”), pursuant to which the Company agreed to sell, in a private placement, $150 million aggregate principal amount of senior unsecured notes due August 14, 2029 bearing interest at 3.70% per annum (the “3.70% Senior Notes”). The entire principal amount of the 3.70% Senior Notes is due in full on August 14, 2029. Interest is payable semi-annually in arrears on each annual and semi-annual anniversary of the issuance date. The obligations under the Note Purchase Facility are unsecured. The Company may from time to time issue and sell additional senior unsecured notes (the “Shelf Notes”) pursuant to the Note Purchase Facility, in an aggregate principal amount of up to $300 million minus the aggregate principal amount of all notes outstanding and issued under the Note Purchase Facility. Pursuant to the Note Purchase Facility, the 3.70% Senior Notes and any Shelf Notes (collectively, the “Senior Note Facility”) are redeemable by the Company, in whole at any time or in part from time to time, at 100% of the principal amount of the Senior Note Facility being redeemed, together with accrued and unpaid interest thereon and a make whole amount calculated by discounting all remaining scheduled payments on the Senior Note Facility by the yield on the U.S. Treasury security with a maturity equal to the remaining average life of the Senior Note Facility plus 0.50%. 2022 Senior Credit Facility On September 30, 2022 the Company entered into a new credit agreement, providing for a credit facility (the “2022 Senior Credit Facility”), consisting of a revolving credit facility (the “Revolving Credit Facility”) in the maximum principal amount of $1.20 billion (with a sublimit of $50.0 million for swingline loans and a sublimit of $150.0 million for letters of credit). In addition, the Company has an option to increase the Revolving Credit Facility or establish term loans in an amount not to exceed $500.0 million in the aggregate, subject to, among other things, the receipt of commitments for the increased amount. The 2022 Senior Credit Facility is unsecured and has a five-year term with two options to request that the lenders extend the maturity date of the obligations owed to each lender for one year (and the right to replace any lenders electing not to extend). Borrowings for the Revolving Credit Facility will bear interest at either the bank’s base rate (6.750% at December 27, 2025) plus an additional margin ranging from 0.000% to 0.250% (0.000% at December 27, 2025) or adjusted Security Overnight Financing Rate (“SOFR”) (3.721% at December 27, 2025) plus an additional margin ranging from 0.750% to 1.250% (1.000% at December 27, 2025) adjusted based on the Company's public credit ratings. SOFR is a broad measure of the cost of borrowing cash overnight collateralized by treasury securities. The Company is also required to pay, quarterly in arrears, a commitment fee related to unused capacity ranging from 0.080% to 0.150% (0.100% at December 27, 2025) per annum, adjusted based on the Company's public credit ratings. The 2022 Senior Credit Facility replaced the Company’s previous senior credit facility (the “Senior Credit Facility”). Proceeds from borrowings under the 2022 Senior Credit Facility were used to pay off the Senior Credit Facility. In connection with the prior debt refinancing, the Company amended its interest rate swap agreement to convert the reference rate from one-month LIBOR to one-month term SOFR and elected the optional expedients offered under the Accounting Standards Codification 848, Reference Rate Reform, which allows the cash flow hedge to be recognized under hedge accounting without designation. The Company’s interest rate swap agreement matured in the first quarter of fiscal 2025. Covenants and Default Provisions of the Debt Agreements The 2022 Senior Credit Facility and the Note Purchase Facility (collectively, the “Debt Agreements”) require quarterly compliance with respect to two material covenants: a fixed charge coverage ratio and a leverage ratio. Both ratios are calculated on a trailing twelve-month basis at the end of each fiscal quarter. The fixed charge coverage ratio compares earnings before interest, taxes, depreciation, amortization, share-based compensation and rent expense (“consolidated EBITDAR”) to the sum of interest paid and rental expense (excluding any straight-line rent adjustments). The fixed charge coverage ratio shall be greater than or equal to 2.00 to 1.00 as of the last day of each fiscal quarter. The leverage ratio compares total funded debt to consolidated EBITDAR. The leverage ratio shall be less than or equal to 4.00 to 1.00 as of the last day of each fiscal quarter. The Debt Agreements also contain certain other restrictions regarding additional subsidiary indebtedness, business operations, subsidiary guarantees, mergers, consolidations and sales of assets, transactions with subsidiaries or affiliates, and liens. As of December 27, 2025, the Company was in compliance with all debt covenants. The Debt Agreements contain customary events of default, including payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to other material indebtedness, certain events of bankruptcy and insolvency, material judgments, certain ERISA events and invalidity of loan documents. Upon certain changes of control, payment under the Debt Agreements could become due and payable. In addition, under the Note Purchase Facility, upon an event of default or change of control, the make whole payment described above may become due and payable. The Note Purchase Facility also requires that, in the event the Company amends its Senior Credit Facility, or any subsequent credit facility of $100 million or greater, such that it contains covenant or default provisions that are not provided in the Note Purchase Facility or that are similar to those contained in the Note Purchase Facility but which contain percentages, amounts, formulas or grace periods that are more restrictive than those set forth in the Note Purchase Facility or are otherwise more beneficial to the lenders thereunder, the Note Purchase Facility shall be automatically amended to include such additional or amended covenants and/or default provisions.
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Leases |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lessee, Operating Leases | Leases The Company leases the majority of its retail store locations, certain distribution sites, its Merchandise Innovation Center, and certain equipment. The leases have varying terms and expire at various dates through 2046. Store leases typically have initial terms of between 10 years and 20 years, with two to four optional renewal periods of five years each. The exercise of lease renewal options is at our sole discretion. The Company has included lease renewal options in the lease term for calculations of its right-of-use assets and liabilities when it is reasonably certain that the Company plans to renew these leases. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company accounts for lease components (e.g., fixed payments including rent, real estate taxes, and insurance costs) together with non-lease components (e.g., fixed payment common-area maintenance) as a single component for all classes of underlying assets. Certain lease agreements require variable payments based upon actual costs of common-area maintenance, real estate taxes, and insurance. Further, certain lease agreements require variable payments based upon store sales above agreed-upon sales levels for the year and others require payments adjusted periodically for inflation. Variable lease costs are expensed as incurred. As substantially all of our leases do not provide an implicit rate, we estimate our collateralized incremental borrowing rate based upon a Company specific credit rating and yield curve analysis at commencement or modification date in determining the present value of lease payments. The Company has elected not to recognize leases with an original term of one year or less on the balance sheet. Short-term lease costs during the periods presented were immaterial. In addition to the operating lease right-of-use assets presented on the Consolidated Balance Sheets, assets, net of accumulated amortization, under finance leases of $31.4 million and $25.8 million are recorded within the line on the Consolidated Balance Sheets as of December 27, 2025 and December 28, 2024, respectively. The following table summarizes the Company’s classification of lease costs (in thousands):
The following table summarizes the future maturities of the Company’s lease liabilities (in thousands):
(a) Operating lease payments exclude $293.7 million of legally binding minimum lease payments for leases signed, but not yet commenced. The following table summarizes the Company’s lease terms and discount rates:
The following table summarizes the other information related to the Company’s lease liabilities (in thousands):
Sale-leaseback Transactions During fiscal 2025, the Company completed its strategically planned sale-leaseback of 41 Tractor Supply store locations, resulting in proceeds of $252.6 million and a gain of $91.7 million, which is included in Selling, general, and administrative expenses. During fiscal 2024, the Company completed its strategically planned sale-leaseback of 20 Tractor Supply store locations, resulting in proceeds of $130.8 million and a gain of $62.2 million, which is included in Selling, general, and administrative expenses. During fiscal 2023, the Company completed its strategically planned sale-leaseback of 15 Tractor Supply store locations, resulting in proceeds of $82.0 million and a gain of $41.7 million, which is included in Selling, general, and administrative expenses. The transactions met the accounting criteria for sale-leaseback treatment, and the resulting leases were accounted for as operating leases.
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| Lessee, Finance Leases | Leases The Company leases the majority of its retail store locations, certain distribution sites, its Merchandise Innovation Center, and certain equipment. The leases have varying terms and expire at various dates through 2046. Store leases typically have initial terms of between 10 years and 20 years, with two to four optional renewal periods of five years each. The exercise of lease renewal options is at our sole discretion. The Company has included lease renewal options in the lease term for calculations of its right-of-use assets and liabilities when it is reasonably certain that the Company plans to renew these leases. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company accounts for lease components (e.g., fixed payments including rent, real estate taxes, and insurance costs) together with non-lease components (e.g., fixed payment common-area maintenance) as a single component for all classes of underlying assets. Certain lease agreements require variable payments based upon actual costs of common-area maintenance, real estate taxes, and insurance. Further, certain lease agreements require variable payments based upon store sales above agreed-upon sales levels for the year and others require payments adjusted periodically for inflation. Variable lease costs are expensed as incurred. As substantially all of our leases do not provide an implicit rate, we estimate our collateralized incremental borrowing rate based upon a Company specific credit rating and yield curve analysis at commencement or modification date in determining the present value of lease payments. The Company has elected not to recognize leases with an original term of one year or less on the balance sheet. Short-term lease costs during the periods presented were immaterial. In addition to the operating lease right-of-use assets presented on the Consolidated Balance Sheets, assets, net of accumulated amortization, under finance leases of $31.4 million and $25.8 million are recorded within the line on the Consolidated Balance Sheets as of December 27, 2025 and December 28, 2024, respectively. The following table summarizes the Company’s classification of lease costs (in thousands):
The following table summarizes the future maturities of the Company’s lease liabilities (in thousands):
(a) Operating lease payments exclude $293.7 million of legally binding minimum lease payments for leases signed, but not yet commenced. The following table summarizes the Company’s lease terms and discount rates:
The following table summarizes the other information related to the Company’s lease liabilities (in thousands):
Sale-leaseback Transactions During fiscal 2025, the Company completed its strategically planned sale-leaseback of 41 Tractor Supply store locations, resulting in proceeds of $252.6 million and a gain of $91.7 million, which is included in Selling, general, and administrative expenses. During fiscal 2024, the Company completed its strategically planned sale-leaseback of 20 Tractor Supply store locations, resulting in proceeds of $130.8 million and a gain of $62.2 million, which is included in Selling, general, and administrative expenses. During fiscal 2023, the Company completed its strategically planned sale-leaseback of 15 Tractor Supply store locations, resulting in proceeds of $82.0 million and a gain of $41.7 million, which is included in Selling, general, and administrative expenses. The transactions met the accounting criteria for sale-leaseback treatment, and the resulting leases were accounted for as operating leases.
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Capital Stock and Dividends |
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| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock and Dividends | Capital Stock and Dividends Capital Stock The authorized capital stock of the Company consists of common stock and preferred stock. The Company is authorized to issue 2.00 billion shares of common stock. The Company is also authorized to issue 40 thousand shares of preferred stock, with such designations, rights and preferences as may be determined from time to time by the Company’s Board of Directors. Dividends During fiscal 2025 and 2024, the Company’s Board of Directors declared the following cash dividends:
(a) All per share amounts have been adjusted to reflect the five-for-one Stock Split as discussed in Note 1. On February 10, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.24 per share of the Company’s outstanding common stock. The dividend will be paid on March 10, 2026, to stockholders of record as of the close of business on February 24, 2026.
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Treasury Stock |
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| Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | Treasury Stock The Company’s Board of Directors has authorized common stock repurchases under a share repurchase program, which was most recently increased by $1.00 billion on February 12, 2025. The total amount authorized under the program, which has been increased from time to time, was authorized for up to $7.50 billion, exclusive of any fees, commissions or other expenses related to such repurchases. The share repurchase program does not have an expiration date. The repurchases may be made from time to time on the open market or in privately negotiated transactions. The timing and amount of any shares repurchased under the program will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. Repurchased shares are accounted for at cost and will be held in treasury for future issuance. The program may be limited, temporarily paused, or terminated at any time without prior notice. As of December 27, 2025, the Company had remaining authorization under the share repurchase program of $1.13 billion, exclusive of any fees, commissions or other expenses. The following table provides the number of shares repurchased, average price paid per share, and total costs of share repurchases in fiscal 2025, 2024, and 2023, respectively (in thousands, except per share amounts):
(a) All share and per share amounts have been adjusted to reflect the five-for-one Stock Split effective December 20, 2024 as discussed in Note 1. (b) Effective January 1, 2023, the Company’s share repurchases are subject to a 1% excise tax as a result of the Inflation Reduction Act of 2022. Excise taxes incurred on share repurchases represent direct costs of the repurchase and are recorded as a part of the cost basis of the shares within treasury stock. The cost of shares repurchased may differ from the repurchases of common stock amounts in the consolidated statements of cash flows due to unsettled share repurchases at the end of a period and excise taxes incurred on share repurchases.
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Net Income Per Share |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Share | Net Income Per Share Net income per share is calculated as follows (in thousands, except per share amounts):
(a) All share and per share amounts have been adjusted to reflect the five-for-one Stock Split effective December 20, 2024 as discussed in Note 1. Anti-dilutive share-based awards excluded from the above calculations totaled 0.8 million shares in fiscal 2025, 0.9 million shares in fiscal 2024, and 1.2 million shares in fiscal 2023.
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Income Taxes |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes The provision for income taxes consists of the following (in thousands):
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the deferred tax assets and liabilities are as follows (in thousands):
The Company has evaluated the need for a valuation allowance for all or a portion of the deferred tax assets. The Company believes that all of the deferred tax assets will more likely than not be realized through future earnings. The Company had state tax credit carryforwards of $18.2 million and $23.3 million as of December 27, 2025 and December 28, 2024, respectively, with varying dates of expiration through 2050. The Company provided no valuation allowance as of December 27, 2025 and December 28, 2024 for state tax credit carryforwards, as the Company believes it is more likely than not that all of these credits will be utilized before their expiration dates. A reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate is as follows (in thousands):
(a) For each respective fiscal year, state taxes in the following states contributed to the majority of the tax effect in this category: 2025: Tennessee, California, New York, Michigan, New Jersey, and Texas 2024: California, New York, Michigan, New Jersey, Texas, Maine, and Arizona 2023: California, New York, Michigan, New Jersey, Pennsylvania, Tennessee, Texas, and Kansas The Company and its affiliates file income tax returns in the U.S. and various state and local jurisdictions. With few exceptions, the Company is no longer subject to federal, state and local income tax examinations by tax authorities for years before 2022. Various states have completed an examination of our income tax returns for 2017 through 2021 with minimal adjustments. The total amount of unrecognized tax positions that, if recognized, would increase the effective tax rate, is $10.6 million at December 27, 2025. In addition, the Company recognizes current interest and penalties accrued related to these uncertain tax positions as interest expense, and the amount is not material to the Consolidated Statements of Income. A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (exclusive of interest and penalties) is as follows (in thousands):
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Retirement Benefit Plans |
12 Months Ended |
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Dec. 27, 2025 | |
| Retirement Benefits [Abstract] | |
| Retirement Benefit Plans | Retirement Benefit Plans The Company has a defined contribution benefit plan, the Tractor Supply Company 401(k) Retirement Savings Plan (the “401(k) Plan”), which provides retirement benefits for eligible employees. The Company matches (in cash) 100% of the employee’s elective contributions up to 3% of eligible compensation plus 50% of the employee’s elective contributions from 3% to 6% of eligible compensation. In no event shall the total Company match made on behalf of the employee exceed 4.5% of the employee’s eligible compensation. All current contributions are immediately vested. Company contributions to the 401(k) Plan were approximately $22.1 million, $20.1 million, and $18.8 million during fiscal 2025, 2024, and 2023, respectively.
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Commitments and Contingencies |
12 Months Ended |
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Dec. 27, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Contractual Commitments At December 27, 2025, the Company had contractual commitments of approximately $198.2 million. Of this amount, $71.4 million relates to the construction of our distribution center in Nampa, Idaho and $37.5 million relates to the construction of new stores under the Company’s fee development program. Commitments related to new stores are generally due as construction progresses, with obligations extending through 2026. The remaining $89.3 million in obligations is related to strategic investments related to information technology systems and advertising. The majority of these agreements are due within 3 years and are recorded as liabilities when the goods are received or the services are rendered. In addition, the Company had $293.7 million legally binding minimum lease payments for leases signed, but not yet commenced. Letters of Credit At December 27, 2025, there were $78.6 million outstanding letters of credit. Litigation The Company is involved in various litigation matters arising in the ordinary course of business. The Company believes that, based upon information currently available, any estimated loss related to such matters has been adequately provided for in accrued liabilities to the extent probable and reasonably estimable. Accordingly, the Company currently expects these matters will be resolved without material adverse effect on its consolidated financial position, results of operations or cash flows. However, litigation and other legal matters involve an element of uncertainty. Future developments in such matters, including adverse decisions or settlements or resulting required changes to the Company’s business operations, could affect our consolidated operating results when resolved in future periods or could result in liability or other amounts material to the Company’s Consolidated Financial Statements.
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Segment Reporting |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting | Segment Reporting The Company has one reportable segment which is the retail sale of products that support the rural lifestyle. The following table indicates the percentage of net sales represented by each major product category during fiscal 2025, 2024, and 2023:
The accounting policies of the retail segment are the same as those described in the Summary of Significant Accounting Policies included in Note 1 - Significant Accounting Policies. The Company’s Chief Operating Decision Maker (“CODM”) is identified as the President and Chief Executive Officer. The CODM assesses performance for the retail segment based on Net income as reported on the Company’s Consolidated Statements of Income. The CODM considers net income on a monthly basis when assessing performance of the segment. Net income is also used in competitive analysis by benchmarking to the Company’s competitors and establishing management’s compensation. The measure of segment assets is reported on the Company’s Consolidated Balance Sheets as total consolidated assets. Within the reportable segment, there are significant expense categories regularly provided to the CODM and included in the measure of the segment’s net income as shown below (in thousands):
(a) Personnel expense includes wages, salaries, and other forms of compensation related to personnel. (b) Other segment expenses include occupancy expenses (including $675.0 million, $611.8 million, and $564.9 million, respectively, in rent expenses as disclosed in Note 6), advertising expenses, and other operating expenses within Selling, General, and Administrative expenses as described in Note 1.
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 27, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 27, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Dec. 27, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Cybersecurity is among the most critical risks to the Company. For many activities important to its business, the Company depends on the confidentiality, integrity, and availability of information systems and data, some of which are provided or managed by third parties. The Company’s Information Security and Privacy teams reduce first and third-party risk by maintaining a proactive security posture aligned with current threats, detecting cybersecurity events and responding quickly, and building procedures to rapidly recover. Internal and third-party risks are reviewed, monitored, and managed by the Company’s Cybersecurity and Privacy teams, audited by an Internal Audit team and various external experts, and tracked within an Enterprise Risk Management framework. The Company regularly engages third-party experts to assess the effectiveness of its cybersecurity programs. Biennially, an external independent consultancy team conducts a comprehensive review of the Company’s cybersecurity program using the NIST Cybersecurity Framework. Targeted assessments are conducted regularly by internal and third-party experts to ensure compliance with specific federal and state laws and regulations. Additionally, the Company is assessed annually by an independent third party for compliance with the PCI-DSS standard, for which the Company receives an attestation of compliance. The Company’s processes for identifying and managing first and third-party risks from cybersecurity threats include: •Continuous monitoring of the Company’s systems and network for cybersecurity events; •Regular testing of the Company’s Security Incident Response Plan, Business Continuity plans, and Disaster Recovery plans; •Required annual security training for team members with access to Company email, as well as tailored training for team members in more sensitive roles (and periodic testing to ensure the security training is effective). The Company’s security awareness program seeks to create a culture of shared responsibility for the security of sensitive data and systems. This is accomplished through mandatory annual security training for team members with access to Company email as well as tailored training for team members in more sensitive roles. Periodic testing ensures the training is effective. In addition, all team members have access to a variety of training materials on security topics through the Company’s training management system.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | The Company’s Information Security and Privacy teams reduce first and third-party risk by maintaining a proactive security posture aligned with current threats, detecting cybersecurity events and responding quickly, and building procedures to rapidly recover. Internal and third-party risks are reviewed, monitored, and managed by the Company’s Cybersecurity and Privacy teams, audited by an Internal Audit team and various external experts, and tracked within an Enterprise Risk Management framework. The Company regularly engages third-party experts to assess the effectiveness of its cybersecurity programs. Biennially, an external independent consultancy team conducts a comprehensive review of the Company’s cybersecurity program using the NIST Cybersecurity Framework. Targeted assessments are conducted regularly by internal and third-party experts to ensure compliance with specific federal and state laws and regulations. Additionally, the Company is assessed annually by an independent third party for compliance with the PCI-DSS standard, for which the Company receives an attestation of compliance. The Company’s processes for identifying and managing first and third-party risks from cybersecurity threats include: •Continuous monitoring of the Company’s systems and network for cybersecurity events; •Regular testing of the Company’s Security Incident Response Plan, Business Continuity plans, and Disaster Recovery plans; •Required annual security training for team members with access to Company email, as well as tailored training for team members in more sensitive roles (and periodic testing to ensure the security training is effective). The Company’s security awareness program seeks to create a culture of shared responsibility for the security of sensitive data and systems. This is accomplished through mandatory annual security training for team members with access to Company email as well as tailored training for team members in more sensitive roles. Periodic testing ensures the training is effective. In addition, all team members have access to a variety of training materials on security topics through the Company’s training management system.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | On behalf of the Board, the Audit Committee provides oversight of the Company’s management of cybersecurity risk. The Audit Committee regularly reviews the Company’s cybersecurity risks, incidents, audits, assessments, crisis readiness, awareness activities, and compliance with cybersecurity and privacy laws and regulations. The Company’s Vice President, Information Security and Privacy, briefs the Audit Committee quarterly, and more often, if necessary, on active and emerging cybersecurity threats and efforts to strengthen the Company’s defenses against these threats. The Audit Committee reports regularly on cybersecurity matters to the Board.
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | On behalf of the Board, the Audit Committee provides oversight of the Company’s management of cybersecurity risk. The Audit Committee regularly reviews the Company’s cybersecurity risks, incidents, audits, assessments, crisis readiness, awareness activities, and compliance with cybersecurity and privacy laws and regulations. The Company’s Vice President, Information Security and Privacy, briefs the Audit Committee quarterly, and more often, if necessary, on active and emerging cybersecurity threats and efforts to strengthen the Company’s defenses against these threats. The Audit Committee reports regularly on cybersecurity matters to the Board.
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| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | On behalf of the Board, the Audit Committee provides oversight of the Company’s management of cybersecurity risk. The Audit Committee regularly reviews the Company’s cybersecurity risks, incidents, audits, assessments, crisis readiness, awareness activities, and compliance with cybersecurity and privacy laws and regulations. The Company’s Vice President, Information Security and Privacy, briefs the Audit Committee quarterly, and more often, if necessary, on active and emerging cybersecurity threats and efforts to strengthen the Company’s defenses against these threats. The Audit Committee reports regularly on cybersecurity matters to the Board.
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| Cybersecurity Risk Role of Management [Text Block] | On behalf of the Board, the Audit Committee provides oversight of the Company’s management of cybersecurity risk. The Audit Committee regularly reviews the Company’s cybersecurity risks, incidents, audits, assessments, crisis readiness, awareness activities, and compliance with cybersecurity and privacy laws and regulations. The Company’s Vice President, Information Security and Privacy, briefs the Audit Committee quarterly, and more often, if necessary, on active and emerging cybersecurity threats and efforts to strengthen the Company’s defenses against these threats. The Audit Committee reports regularly on cybersecurity matters to the Board. The Company’s Information Security and Privacy program and teams are managed by the Vice President, Information Security and Privacy, who reports to the Executive Vice President, Chief Technology, Digital Commerce, and Strategy Officer. The Company’s cybersecurity leaders have more than 25 years of relevant experience and multiple professional certifications. An external managed security services provider and industry-leading security tools continuously monitor the Company’s systems and network for cybersecurity threats. The Company’s cybersecurity teams evaluate the escalated threats, and if necessary, take steps to contain and recover from pervasive threats in accordance with the Company’s Security Incident Response Plan. The plan includes reporting and escalation procedures to inform the Executive Committee, Audit Committee, and full Board, as appropriate to enable them to carry out their oversight responsibilities, and to ensure timely compliance with applicable reporting rules. The Company’s Business Continuity Management and Disaster Recovery plans include procedures for business recovery and are tested regularly.
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| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | On behalf of the Board, the Audit Committee provides oversight of the Company’s management of cybersecurity risk. The Audit Committee regularly reviews the Company’s cybersecurity risks, incidents, audits, assessments, crisis readiness, awareness activities, and compliance with cybersecurity and privacy laws and regulations. The Company’s Vice President, Information Security and Privacy, briefs the Audit Committee quarterly, and more often, if necessary, on active and emerging cybersecurity threats and efforts to strengthen the Company’s defenses against these threats. The Audit Committee reports regularly on cybersecurity matters to the Board. The Company’s Information Security and Privacy program and teams are managed by the Vice President, Information Security and Privacy, who reports to the Executive Vice President, Chief Technology, Digital Commerce, and Strategy Officer. The Company’s cybersecurity leaders have more than 25 years of relevant experience and multiple professional certifications.
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| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | An external managed security services provider and industry-leading security tools continuously monitor the Company’s systems and network for cybersecurity threats. The Company’s cybersecurity teams evaluate the escalated threats, and if necessary, take steps to contain and recover from pervasive threats in accordance with the Company’s Security Incident Response Plan. The plan includes reporting and escalation procedures to inform the Executive Committee, Audit Committee, and full Board, as appropriate to enable them to carry out their oversight responsibilities, and to ensure timely compliance with applicable reporting rules. The Company’s Business Continuity Management and Disaster Recovery plans include procedures for business recovery and are tested regularly. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Significant Accounting Policies (Policies) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis of Presentation | Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”).
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| Fiscal Year | Fiscal Year The Company’s fiscal year ends on the last Saturday of the calendar year. The fiscal years ended December 27, 2025 and December 28, 2024, and December 30, 2023 each consisted of 52 weeks.
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| Principles of Consolidation | Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.
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| Management Estimates | Management Estimates The preparation of Consolidated Financial Statements in conformity with U.S. GAAP inherently requires estimates and assumptions by management of the Company that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures. Actual results could differ from those estimates. Significant estimates and assumptions by management primarily impact the following key financial statement areas:
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| Inventory Impairment Risk | Inventory Valuation Inventory Impairment Risk The Company identifies potentially excess and slow-moving inventory by evaluating turn rates, historical and expected future sales trends, age of merchandise, overall inventory levels, current cost of inventory, and other benchmarks. The Company has established an inventory valuation reserve to recognize the estimated impairment in value (i.e., an inability to realize the full carrying value) based on the Company’s aggregate assessment of these valuation indicators under prevailing market conditions and current merchandising strategies. The Company does not believe its merchandise inventories are subject to significant risk of obsolescence in the near term; however, changes in market conditions or consumer purchasing patterns could result in the need for additional reserves.
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| Shrinkage | Shrinkage The Company typically performs physical inventories at least once a year for each store that has been open more than 12 months, and the Company has established a reserve for estimating inventory shrinkage between physical inventory counts. The reserve is established by assessing the chain-wide average shrinkage experience rate, applied to the related periods’ sales volumes. Such assessments are updated on a regular basis for the most recent individual store experiences. The estimated store inventory shrink rate is based on historical experience. The Company believes historical rates are a reasonably accurate reflection of future trends.
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| Vendor Funding | Vendor Funding The Company receives funding from substantially all of its significant merchandise vendors, in support of its business initiatives, through a variety of programs and arrangements including guaranteed vendor support funds (“vendor support”) and volume-based rebate funds (“volume rebates”). The amounts received are subject to terms of vendor agreements, most of which are “evergreen,” reflecting the on-going relationship with our significant merchandise vendors. Certain of the Company’s agreements, primarily volume rebates, are renegotiated annually based on expected annual purchases of the vendor’s product. Vendor funding is initially deferred as a reduction of the purchase price of inventory, and then recognized as a reduction of the cost of merchandise sold as the related inventory is sold. During interim periods, the amount of vendor support and volume rebates is estimated based upon initial commitments and anticipated purchase levels with applicable vendors. The estimated purchase volume (and related vendor funding) is based on the Company’s current knowledge of inventory levels, sales trends, and expected customer demand, as well as planned new store openings and relocations. The amounts accrued and the related inventory valuation effects are adjusted at fiscal year-end based on actual purchase volumes coinciding with calendar year vendor agreements. Such adjustments are not significant.
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| Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets, including lease right-of-use assets, are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. When evaluating long-lived assets for potential impairment, the Company first compares the carrying value of the asset or asset group to its estimated undiscounted future cash flows. The evaluation for long-lived assets is performed at the lowest level of identifiable cash flows, which is generally the individual store level. The significant assumptions used to determine estimated undiscounted cash flows include cash inflows and outflows directly resulting from the use of those assets in operations, including margin on net sales, payroll and related items, occupancy costs, insurance allocations, and other costs to operate a store. If the estimated future cash flows are less than the carrying value of the related asset, the Company calculates an impairment loss. The impairment loss calculation compares the carrying value of the related asset or asset group to its estimated fair value, which may be based on an estimated future cash flow model, market valuation, or other valuation technique as appropriate. The Company recognizes an impairment loss if the amount of the asset’s carrying value exceeds the asset’s estimated fair value. If the Company recognizes an impairment loss, the adjusted carrying amount of the asset becomes its new cost basis. For a depreciable long-lived asset, the new cost basis will be depreciated (amortized) over the remaining estimated useful life of that asset. No significant impairment charges were recognized in fiscal 2025, 2024, or 2023 related to long-lived assets.
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| Impairement of Indefinite-Lived Intangible Assets | Impairment of Goodwill and Indefinite-Lived Intangible Assets Goodwill and other indefinite-lived intangible assets are evaluated for impairment annually, or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Our annual impairment evaluation is conducted on the first day of our fiscal fourth quarter. In accordance with the accounting standards, an entity has the option first to assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that goodwill or an indefinite-lived intangible asset is impaired. If after such assessment an entity concludes that the asset is not impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the asset using a quantitative impairment test, and if impaired, the associated assets must be written down to fair value. The quantitative impairment test for goodwill compares the fair value of a reporting unit with the carrying value of its net assets, including goodwill. If the fair value of the reporting unit is less than the carrying value of the reporting unit, an impairment charge would be recorded to the Company’s operations for the amount in which the carrying amount exceeds the reporting unit’s fair value. We determine fair values for each reporting unit using the market approach (when available and appropriate), the income approach, or a combination of both. The income approach involves forecasting projected financial information (such as revenue growth rates, profit margins, tax rates, and capital expenditures) and selecting a discount rate that reflects the risk inherent in estimated future cash flows. Under the market approach, the fair value is based on observed market data. If multiple valuation methodologies are used, the results are weighted appropriately. The quantitative impairment test for other indefinite-lived intangible assets involves comparing the carrying amount of the asset to the sum of the discounted cash flows expected to be generated by the asset. If the implied fair value of the indefinite-lived intangible asset is less than the carrying value, an impairment charge would be recorded to the Company’s operations. No impairment charges were recognized in fiscal 2025, 2024, or 2023 related to goodwill or indefinite-lived intangible assets.
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| Revenue Recognition | The Company recognizes revenue at the time the customer takes possession of merchandise. If the Company receives payment before completion of its customer obligations (as per the Company’s special order and layaway programs), the revenue is deferred until the customer takes possession of the merchandise and the sale is complete.
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| Sales Taxes | The Company is required to collect certain taxes and fees from customers on behalf of government agencies and remit such collections to the applicable governmental agency on a periodic basis. These taxes and fees are collected from customers at the time of purchase but are not included in net sales. The Company records a liability upon collection from the customer and relieves the liability when payments are remitted to the applicable governmental agency.
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| Revenue Recognition Sales Returns | The Company estimates a liability for sales returns based on a rolling average of historical return trends, and the Company believes that its estimate for sales returns is an accurate reflection of future returns associated with past sales. However, as with any estimate, refund activity may vary from estimated amounts. The Company had a liability for sales returns of $18.2 million and $18.9 million as of December 27, 2025 and December 28, 2024, respectively.
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| Revenue Recognition Gift Cards | The Company recognizes revenue when a gift card or merchandise return card is redeemed by the customer and recognizes income when the likelihood of the gift card or merchandise return card being redeemed by the customer is remote (referred to as “breakage”). The gift cards and merchandise return cards breakage rate is based upon historical redemption patterns and income is recognized for unredeemed gift cards and merchandise return cards over time in proportion to actual gift card redemptions. The Company recognized breakage income of $12.2 million, $8.2 million, and $4.6 million in fiscal 2025, 2024, and 2023, respectively. The Company offers a points-based Neighbor’s Club loyalty program to its customers. The points earned by customers can be redeemed for free services or discounts on future purchases. The Company defers the estimated standalone selling price of points related to the loyalty program as a reduction to revenue and establishes a corresponding liability in deferred revenue on the Consolidated Balance Sheets. The estimated selling price of each point is based on the standard value per point (1 point is equivalent to $0.01), net of points not expected to be redeemed, based on historical redemption. When points are relieved (redeemed, expired, cancelled, etc.), revenue is recognized with a corresponding reduction to the program liability. The Company had a liability for the loyalty program of $24.3 million and $17.9 million as of December 27, 2025 and December 28, 2024, respectively.
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| Cost of Merchandise Sold | Cost of Merchandise Sold Cost of merchandise sold includes the total cost of products sold; freight and duty expenses associated with moving merchandise inventories from vendors to distribution facilities, from distribution facilities to retail stores, from one distribution facility to another, and directly to our customers; tariffs on imported products; vendor support; damaged, junked or defective product; cash discounts from payments to merchandise vendors; and adjustments for shrinkage (physical inventory losses), lower of cost or net realizable value, slow moving product, and excess inventory quantities.
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| Selling, General and Administrative Expenses | Selling, General and Administrative Expenses SG&A expenses include payroll and benefit costs for retail, distribution facility, and corporate team members; share-based compensation expenses; occupancy costs of retail, distribution, and corporate facilities; advertising costs; tender costs, including bank charges and costs associated with credit and debit card interchange fees; outside service fees; and other administrative costs such as computer maintenance, supplies, travel, and lodging.
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| Advertising Costs | Advertising Costs Advertising costs consist of expenses incurred in connection with digital and social media offerings, television, newspaper circulars, and customer-targeted direct e-mail and direct mail, as well as limited events through radio and other media channels. Costs are expensed when incurred with the exception of television advertising and circular and direct mail promotions, which are expensed upon first showing. Advertising expenses were approximately $107.7 million, $95.2 million, and $87.1 million for fiscal 2025, 2024, and 2023, respectively.
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| Warehousing and Distribution Costs | Warehousing and Distribution Facility Costs Costs incurred at the Company’s distribution facilities for receiving, warehousing, and preparing product for delivery are expensed as incurred and are included in SG&A expenses in the Consolidated Statements of Income. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin. Distribution facility costs including depreciation were approximately $502.8 million, $479.4 million, and $450.6 million for fiscal 2025, 2024, and 2023, respectively.
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| Pre-opening Costs | Pre-Opening Costs Non-capital expenditures incurred in connection with opening new stores, primarily payroll and rent, are expensed as incurred. Pre-opening costs were approximately $17.8 million, $9.7 million, and $13.2 million for fiscal 2025, 2024, and 2023, respectively.
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| Share-based Compensation | Share-Based Compensation The Company has share-based compensation plans covering certain members of management and non-employee directors, which include non-qualified stock options, restricted stock units, and performance-based restricted share units. Performance-based restricted share units are subject to performance conditions that include both Company and market performance. In addition, the Company offers an Employee Stock Purchase Plan (“ESPP”) to eligible team members. The Company estimates the fair value of its stock option awards at the date of grant utilizing a Black-Scholes option pricing model. The Black-Scholes option valuation model was developed for use in estimating the fair value of short-term traded options that have no vesting restrictions and are fully transferable. However, key assumptions used in the Black-Scholes model are adjusted to incorporate the unique characteristics of the Company’s stock option awards. Option pricing models and generally accepted valuation techniques require management to make subjective assumptions including expected stock price volatility, expected dividend yield, risk-free interest rate, expected term, and forfeiture rates. The Company relies on historical volatility trends to estimate future volatility assumptions. The risk-free interest rates used were actual U.S. Treasury Constant Maturity rates for bonds matching the expected term of the option on the date of grant. The expected term of the option on the date of grant was estimated based on the Company’s historical experience for similar options. The forfeiture rate at the time of valuation was estimated based on historical experience for similar options and reduces expense ratably over the vesting period. The Company adjusts this estimate periodically, based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate. The fair value of the Company’s restricted stock units is the closing stock price of the Company’s common stock the day preceding the grant date, discounted for the expected dividend yield over the term of the award. The fair value of the Company's performance-based restricted share units is estimated using a Monte Carlo simulation model on the grant date. Key assumptions used in the Monte Carlo simulation include expected volatility, dividend yield and risk-free interest rate. The Company believes its estimates are reasonable in the context of historical experience. Future results will depend on, among other matters, levels of share-based compensation granted in the future, actual forfeiture rates, and the timing of option exercises.
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| Depreciation and Amortization | Depreciation and Amortization Depreciation includes expenses related to all retail, distribution facility, and corporate assets. Amortization includes expenses related to finance lease assets and definite-lived identifiable intangible assets.
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| Income Tax | Income Taxes The Company uses the asset and liability method to account for income taxes whereby deferred tax assets and liabilities are determined based on differences between the financial carrying amounts of assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates and laws that are anticipated to be in effect when temporary differences reverse or are settled. The effect of a tax rate change is recognized in the period in which the law is enacted in the provision for income taxes. The Company records a valuation allowance when it is more likely than not that a deferred tax asset will not be realized.
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| Tax Contingencies | Tax Contingencies The Company’s income tax returns are periodically audited by U.S. federal and state tax authorities. These audits include questions regarding tax filing positions, including the timing and amount of deductions and the allocation of income among various tax jurisdictions. At any time, multiple tax years are subject to audit by the various tax authorities. In evaluating the exposures associated with the Company’s various tax filing positions, the Company records a liability for uncertain tax positions taken or expected to be taken in a tax return. A number of years may elapse before a particular matter, for which the Company has established a reserve, is audited and fully resolved or clarified. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company adjusts its tax contingencies reserve and income tax provision in the period in which actual results of a settlement with tax authorities differs from the established reserve, the statute of limitations expires for the relevant tax authority to examine the tax position, or when more information becomes available.
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| Sales Tax Audit Reserve | Sales Tax Audit Reserve A portion of the Company’s sales are to tax-exempt customers, predominantly agricultural-based. The Company obtains exemption information as a necessary part of each tax-exempt transaction. Many of the states in which the Company conducts business will perform audits to verify the Company’s compliance with applicable sales tax laws. The business activities of the Company’s customers and the intended use of the unique products sold by the Company create a challenging and complex tax compliance environment. These circumstances also create some risk that the Company could be challenged as to the accuracy of the Company’s sales tax compliance. The Company reviews past audit experience and assessments with applicable states to continually determine if it has potential exposure for non-compliance. Any estimated liability is based on an initial assessment of compliance risk and historical experience with each state. The Company continually reassesses the exposure based on historical audit results, changes in policies, preliminary and final assessments made by state sales tax auditors, and additional documentation that may be provided to reduce the assessment. The reserve for these tax audits can fluctuate depending on numerous factors, including the complexity of agricultural-based exemptions, the ambiguity in state tax regulations, the number of ongoing audits, and the length of time required to settle with the state taxing authorities.
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| Net Income Per Share | Net Income Per Share The Company presents both basic and diluted net income per share on the Consolidated Statements of Income. Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average diluted shares outstanding during the period. Dilutive shares are computed using the treasury stock method for share-based awards. Performance-based restricted share units are included in diluted shares only if the related performance conditions have been considered satisfied as of the end of the reporting period.
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| Cash and Cash Equivalents | Cash and Cash Equivalents Temporary cash investments, with a maturity of three months or less when purchased, are considered to be cash equivalents. The majority of payments due from banks for customer credit cards are classified as cash and cash equivalents, as they generally settle within 24 - 48 hours. Sales generated through the Company’s private label credit cards are not reflected as accounts receivable. Under an agreement with Citi Cards, a division of Citigroup, consumer and business credit is extended directly to customers by Citigroup. All credit program and related services are performed and controlled directly by Citigroup. Payments due from Citigroup are classified as cash and cash equivalents as they generally settle within 24 - 48 hours.
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| Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: •Level 1 - defined as observable inputs such as quoted prices in active markets; •Level 2 - defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and •Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company’s financial instruments consist of cash and cash equivalents, short-term credit card receivables, trade payables, and debt instruments. Due to their short-term nature, the carrying values of cash and cash equivalents, short-term credit card receivables, and trade payables approximate current fair value at each balance sheet date. As described in further detail in Note 5 to the Consolidated Financial Statements, the Company had $1.78 billion and $1.85 billion in borrowings under its debt facilities at December 27, 2025 and December 28, 2024, respectively. The fair value of the Company’s $150 million 3.70% Senior Notes due 2029 (the “3.70% Senior Notes”) and the borrowings under the Company’s revolving credit facility (the “Revolving Credit Facility”) were determined based on market interest rates (Level 2 inputs). The carrying value of borrowings in the 3.70% Senior Notes and the Revolving Credit Facility approximate fair value for each period reported. The fair value of the Company’s $650 million 1.750% Senior Notes due 2030 (the “1.75% Senior Notes”) and $750 million 5.250% Senior Notes due 2033 (the “5.25% Senior Notes”) are determined based on quoted prices in active markets, which are considered Level 1 inputs. The carrying value and the fair value of the 1.75% Senior Notes and the 5.25% Senior Notes, net of discounts, were as follows (in thousands):
The Company's interest rate swap is carried at fair value, which is determined based on the present value of expected future cash flows using forward rate curves, which is considered a Level 2 input. In accordance with hedge accounting, the gains and losses on interest rate swaps that are designated and qualify as cash flow hedges are recorded as a component of Other Comprehensive Income, net of related income taxes, and reclassified into earnings in the same income statement line and period in which the hedged transactions affect earnings. The interest rate swap agreement matured in the first quarter of fiscal 2025. The fair value of the interest rate swap, excluding accrued interest, was as follows (in thousands):
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| Derivative Financial Instruments | Derivative Financial Instruments The Company accounts for derivative financial instruments in accordance with applicable accounting standards for such instruments and hedging activities, which require that all derivatives are recorded on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge a certain portion of its risk, even though hedge accounting does not apply or the Company elects not to apply the hedge accounting standards. The Company’s interest rate swap agreement matured in the first quarter of fiscal 2025. The Company has no outstanding derivative financial instruments as of December 27, 2025.
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| Inventories | Inventories Inventories are stated at the lower of cost, as determined by the moving average cost method, or net realizable value. Inventory cost consists of the direct cost of merchandise including freight, duties, and tariffs. Inventories are net of shrinkage, obsolescence, other valuations, and vendor allowances.
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| Property and Equipment | Property and Equipment Property and equipment are initially recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. Improvements to leased premises are amortized using the straight-line method over the remaining term of the lease or the useful life of the improvement, whichever is less. The following table summarizes the Company's property and equipment balances and includes the estimated useful lives which are generally applied (in thousands, except estimated useful lives):
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| Capitalized Software Costs | Capitalized Software Costs The Company capitalizes certain costs related to the acquisition and development of software and amortizes these costs using the straight-line method over the estimated useful life of the software, which is to seven years. Computer software consists of software developed for internal-use and third-party software purchased for internal-use. A subsequent addition, modification, or upgrade to internal-use software is capitalized to the extent that it enhances the software’s functionality or extends its useful life. These costs are included in property and equipment in the accompanying Consolidated Balance Sheets. Certain software costs not meeting the criteria for capitalization are expensed as incurred.
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| Store Closing Costs | Store Closing Costs The Company regularly evaluates the performance of its stores and periodically closes those stores that are underperforming. The Company records a liability for costs associated with an exit or disposal activity when the liability is incurred, usually in the period the store closes. Store closing costs were not significant to the results of operations for any of the fiscal years presented.
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| Leases | Leases Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment, if any, of operating lease assets. To determine the present value of lease payments not yet paid, we estimate incremental borrowing rates corresponding to the reasonably certain lease term. As substantially all of our leases do not provide an implicit rate, we estimate our collateralized incremental borrowing rate based upon a Company specific credit rating and yield curve analysis at commencement or modification date in determining the present value of lease payments. Assets under finance leases are amortized in accordance with the Company’s normal depreciation policy for owned assets or over the lease term, if shorter, and the related charge to operations is included in depreciation expense in the Consolidated Statements of Income.
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| New accounting pronouncements | Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The Company adopted this ASU in fiscal 2025. New Accounting Pronouncements Not Yet Adopted In September 2025, the FASB issued ASU 2025-06, “Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40).” The ASU is intended to improve and modernize the accounting for software costs to better align with the evolution of software development. The ASU is required to be adopted for fiscal years beginning after December 15, 2027 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted as of the beginning of an annual reporting period. The amendments should be applied on a prospective transition basis to financial statements issued for reporting periods after the effective date of the update, on a modified transition approach that is based on the status of the project and whether software costs were capitalized before the date of adoption, or on a retrospective transition basis to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption on its financial statements. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The ASU is intended to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The ASU is required to be adopted for fiscal years beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied on either a prospective basis to financial statements issued for reporting periods after the effective date of the update, or on a retrospective basis to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adoption on its financial disclosures.
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| Self Insurance Reserve | Self-Insurance Reserves The Company self-insures a significant portion of its workers’ compensation and general liability (including product liability) insurance plans. The Company has stop-loss insurance policies to protect it from individual losses over specified dollar values. Our deductible or self-insured retention, as applicable, for each claim involving general liability insurance is limited to $1,000,000. Our deductible for self-insured retention, as applicable, for each claim involving workers’ compensation insurance and our Texas Work Injury Policy is limited to $500,000. Further, we maintain a commercially reasonable umbrella/excess policy that covers liabilities in excess of the primary insurance policy limits. The full extent of certain workers’ compensation and general liability claims may not become fully determined for several years. Therefore, the Company estimates potential obligations based upon historical claims experience, loss development factors, severity factors, and other actuarial assumptions. Any significant change in the number of claims or costs associated with claims made under these plans could have a material effect on the Company’s financial results. Insurance reserves for workers' compensation were $89.7 million and $85.1 million as of December 27, 2025 and December 28, 2024, respectively. Insurance reserves for general liability plans were $63.5 million and $61.4 million as of December 27, 2025 and December 28, 2024, respectively. In addition, insurance receivables recorded in Other assets on the Consolidated Balance Sheets for claims greater than our insurance stop-loss limits were $27.3 million and $26.2 million as of December 27, 2025 and December 28, 2024, respectively.
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Significant Accounting Policies (Tables) |
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| Estimated useful lives of property, plant and equipment | Property and Equipment Property and equipment are initially recorded at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. Improvements to leased premises are amortized using the straight-line method over the remaining term of the lease or the useful life of the improvement, whichever is less. The following table summarizes the Company's property and equipment balances and includes the estimated useful lives which are generally applied (in thousands, except estimated useful lives):
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| Supplier Finance Program | A reconciliation of the beginning and ending payment obligations under the supplier finance program is as follows (in thousands):
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Share Based Compensation (Tables) |
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Dec. 27, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement, Noncash Expense [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Key assumptions in fair value determination | The ranges of key assumptions used in determining the fair value of options granted during fiscal 2025, 2024, and 2023, as well as a summary of the methodology applied to develop each assumption, are as follows:
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| Summary of stock option activity | A summary of stock option activity is as follows:
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| Other information relative to option activity | Other information relative to options activity during fiscal 2025, 2024, and 2023 is as follows (in thousands):
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| Restricted stock units activity | A summary of restricted stock unit activity is presented below:
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| Performance-based Share Unit Activity | A summary of performance-based restricted share unit activity is presented below:
(a) Assumes 100% target level achievement of the relative performance targets. The actual number of shares that will be issued, which may be higher or lower than the target, will be determined by the level of achievement of the relative performance targets, inclusive of the TSR modifier. (b) Shares adjusted for performance-based restricted share unit awards settled during fiscal 2025 based on actual achievement of performance targets.
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| Other information relative to restricted unit activity | Other information relative to restricted stock unit activity during fiscal 2025, 2024, and 2023 is as follows (in thousands):
Other information relative to performance-based restricted share unit activity during fiscal 2025 is as follows (in thousands):
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Acquisition of Allivet (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination | The following table sets forth the final purchase price allocation of Allivet’s net assets acquired on December 30, 2024.
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Goodwill and Other Intangible Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill | The changes in the carrying amount of goodwill for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 are as follows (in thousands):
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Debt (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Debt | The following table summarizes the Company’s outstanding debt as of the dates indicated (in millions):
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Leases, Supplemental Lease Liability (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease, Cost | The following table summarizes the Company’s classification of lease costs (in thousands):
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| Lessee, Operating Lease, Liability, Maturity | The following table summarizes the future maturities of the Company’s lease liabilities (in thousands):
(a) Operating lease payments exclude $293.7 million of legally binding minimum lease payments for leases signed, but not yet commenced.
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| Schedule of Cash Flow, Supplemental Disclosures | The following table summarizes the other information related to the Company’s lease liabilities (in thousands):
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| Lessee, Operating Lease, Terms and Discount Rate | The following table summarizes the Company’s lease terms and discount rates:
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Capital Stock and Dividends (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Dividends Payable | During fiscal 2025 and 2024, the Company’s Board of Directors declared the following cash dividends: (a) All per share amounts have been adjusted to reflect the five-for-one Stock Split as discussed in Note 1.
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Equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class of Treasury Stock | The following table provides the number of shares repurchased, average price paid per share, and total costs of share repurchases in fiscal 2025, 2024, and 2023, respectively (in thousands, except per share amounts):
(a) All share and per share amounts have been adjusted to reflect the five-for-one Stock Split effective December 20, 2024 as discussed in Note 1. (b) Effective January 1, 2023, the Company’s share repurchases are subject to a 1% excise tax as a result of the Inflation Reduction Act of 2022. Excise taxes incurred on share repurchases represent direct costs of the repurchase and are recorded as a part of the cost basis of the shares within treasury stock. The cost of shares repurchased may differ from the repurchases of common stock amounts in the consolidated statements of cash flows due to unsettled share repurchases at the end of a period and excise taxes incurred on share repurchases.
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Net Income Per Share (Tables) |
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Dec. 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income per share calculation | Net income per share is calculated as follows (in thousands, except per share amounts):
(a) All share and per share amounts have been adjusted to reflect the five-for-one Stock Split effective December 20, 2024 as discussed in Note 1. Anti-dilutive share-based awards excluded from the above calculations totaled 0.8 million shares in fiscal 2025, 0.9 million shares in fiscal 2024, and 1.2 million shares in fiscal 2023.
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provision for income taxes | The provision for income taxes consists of the following (in thousands):
|
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| Deferred tax assets and liabilities | Significant components of the deferred tax assets and liabilities are as follows (in thousands):
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| Reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate | A reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate is as follows (in thousands):
(a) For each respective fiscal year, state taxes in the following states contributed to the majority of the tax effect in this category: 2025: Tennessee, California, New York, Michigan, New Jersey, and Texas 2024: California, New York, Michigan, New Jersey, Texas, Maine, and Arizona 2023: California, New York, Michigan, New Jersey, Pennsylvania, Tennessee, Texas, and Kansas
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| Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (exclusive of interest and penalties) is as follows (in thousands):
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Segment Reporting (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average percentage of sales by product categories | The following table indicates the percentage of net sales represented by each major product category during fiscal 2025, 2024, and 2023:
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| Schedule of Segment Reporting Information, by Segment | Within the reportable segment, there are significant expense categories regularly provided to the CODM and included in the measure of the segment’s net income as shown below (in thousands):
(a) Personnel expense includes wages, salaries, and other forms of compensation related to personnel. (b) Other segment expenses include occupancy expenses (including $675.0 million, $611.8 million, and $564.9 million, respectively, in rent expenses as disclosed in Note 6), advertising expenses, and other operating expenses within Selling, General, and Administrative expenses as described in Note 1.
|
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Significant Accounting Policies - Narrative (Details) |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Dec. 30, 2024
USD ($)
|
Dec. 05, 2024 |
Dec. 27, 2025
USD ($)
store
state
$ / shares
h
shares
|
Dec. 28, 2024
USD ($)
$ / shares
shares
|
Dec. 30, 2023
USD ($)
|
Dec. 20, 2024
shares
|
Dec. 19, 2024
shares
|
|
| Line of Credit Facility | |||||||
| Number of states in which rural lifestyle retail stores are operated by the company | state | 49 | ||||||
| Workers compensation and general liability deductible | $ 1,000,000 | ||||||
| Allowance for Sales Returns | 18,200,000 | $ 18,900,000 | |||||
| Revenue Recognition Gift Card | 12,200,000 | 8,200,000 | $ 4,600,000 | ||||
| Customer Loyalty Program Liability, Current | 24,300,000 | 17,900,000 | |||||
| Advertising expenses | 107,700,000 | 95,200,000 | 87,100,000 | ||||
| Distribution Expense | 502,800,000 | 479,400,000 | 450,600,000 | ||||
| Pre-Opening Costs | $ 17,800,000 | 9,700,000 | 13,200,000 | ||||
| Minimum processing timespayments due from banks customer credit card transactions | h | 24 | ||||||
| Maximum processing time for payments due from banks for customer credit card transactions | h | 48 | ||||||
| Unsecured Debt | $ 1,780,000,000 | 1,850,000,000 | |||||
| Senior Notes | $ 150,000,000 | ||||||
| Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] | Accounts payable | ||||||
| Supplier Finance Program, Obligation | $ 30,627,000 | $ 34,801,000 | $ 38,443,000 | ||||
| Stockholders' Equity Note, Stock Split, Conversion Ratio | 5 | ||||||
| Common stock, par value (in dollars per share) | $ / shares | $ 0.008 | $ 0.008 | |||||
| Stockholders' Equity Note, Stock Split, Number Of Additional Shares Issued Per Stockholder | shares | 4 | ||||||
| Common stock, authorized (in shares) | shares | 2,000,000,000.00 | 2,000,000,000 | 400,000,000.0 | ||||
| Allivet, Inc | |||||||
| Line of Credit Facility | |||||||
| Business combination, voting equity interest acquired, percentage | 100.00% | ||||||
| Consideration transferred | $ 135,000,000.0 | ||||||
| 3.70% Senior Notes | Senior Notes | |||||||
| Line of Credit Facility | |||||||
| Senior Notes | $ 150,000,000 | ||||||
| 1.75% Senior Notes | Senior Notes | |||||||
| Line of Credit Facility | |||||||
| Senior Notes | $ 650,000,000 | ||||||
| Debt Instrument, Interest Rate, Plus Stated Percentage | 1.75% | ||||||
| 5.25% Senior Notes | |||||||
| Line of Credit Facility | |||||||
| Senior Notes | $ 750,000,000.0 | ||||||
| 5.25% Senior Notes | Senior Notes | |||||||
| Line of Credit Facility | |||||||
| Senior Notes | $ 750,000,000 | ||||||
| Workers' Compensation | |||||||
| Line of Credit Facility | |||||||
| Self-insurance reserves | 89,700,000 | 85,100,000 | |||||
| General Liability | |||||||
| Line of Credit Facility | |||||||
| Self-insurance reserves | 63,500,000 | 61,400,000 | |||||
| Self-Insurance Claims | |||||||
| Line of Credit Facility | |||||||
| Other Assets | 27,300,000 | $ 26,200,000 | |||||
| TEXAS | |||||||
| Line of Credit Facility | |||||||
| Workers compensation and general liability deductible | $ 500,000 | ||||||
| TSCO stores [Domain] | |||||||
| Line of Credit Facility | |||||||
| Number of rural lifestyle retail stores operated by the company | store | 2,395 | ||||||
| Petsense stores [Domain] | |||||||
| Line of Credit Facility | |||||||
| Number of rural lifestyle retail stores operated by the company | store | 207 | ||||||
| Parent Company [Member] | |||||||
| Line of Credit Facility | |||||||
| Number of rural lifestyle retail stores operated by the company | store | 2,602 | ||||||
Significant Accounting Policies - Fair Value Measurements (Details) - Senior Notes - USD ($) $ in Thousands |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| 1.75% Senior Notes | ||
| Line of Credit Facility | ||
| Senior Notes | $ 643,349 | $ 641,972 |
| Long-Term Debt, Fair Value | 576,765 | 542,191 |
| 5.25% Senior Notes | ||
| Line of Credit Facility | ||
| Senior Notes | 742,834 | 741,857 |
| Long-Term Debt, Fair Value | $ 778,215 | $ 746,573 |
Significant Accounting Policies - Fair Value of the Interest Rate Swap (Details) - USD ($) $ in Thousands |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Accounting Policies [Abstract] | ||
| Cash Flow Hedge Derivative Instrument Assets at Fair Value | $ 0 | $ 1,600 |
Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Thousands |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Land | $ 119,378 | $ 107,447 |
| Buildings and improvements | 2,577,261 | 2,432,323 |
| Furniture, fixtures and equipment | 1,694,348 | 1,544,697 |
| Computer software and hardware | 1,155,345 | 1,017,856 |
| Construction in progress | 497,389 | 267,295 |
| Property and equipment, gross | 6,043,721 | 5,369,618 |
| Accumulated depreciation and amortization | (3,017,177) | (2,642,182) |
| Property and equipment, net | $ 3,026,544 | $ 2,727,436 |
| Building improvements | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Estimated Useful Lives | 1 year | |
| Building improvements | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Estimated Useful Lives | 40 years | |
| Furniture, fixtures and equipment | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Estimated Useful Lives | 7 years | |
| Furniture, fixtures and equipment | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Estimated Useful Lives | 10 years | |
| Computer Software and Hardware | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Estimated Useful Lives | 2 years | |
| Computer Software and Hardware | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Estimated Useful Lives | 7 years |
Significant Accounting Policies - Supplier Finance Obligations (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
|
| Accounting Policies [Abstract] | ||
| Balance at beginning of year | $ 34,801 | $ 38,443 |
| Invoices confirmed during the year | 323,477 | 277,615 |
| Confirmed invoices paid during the year | (327,651) | (281,257) |
| Balance at end of year | $ 30,627 | $ 34,801 |
Share Based Compensation - Narrative (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Employee stock purchase program discount percentage | 15.00% | ||
| Share Based Compensation Arrangement By Share Based Payment Award Contractual Term | 10 years | ||
| Number of shares available for future equity awards (in shares) | 35,300,000 | ||
| Share-Based Payment Arrangement, Expense | $ 57,100 | $ 48,400 | $ 57,000 |
| Vesting Term, Minimum | 1 year | ||
| Vesting Term, Maximum | 3 years | ||
| Shared-based Payment Arrangement, Amounts Withheld for Tax Withholding | $ 16,100 | 24,600 | 24,400 |
| Share-based compensation | 57,063 | $ 48,367 | $ 57,015 |
| Employee Stock Option | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Total unrecognized compensation | $ 8,700 | ||
| Remaining weighted average expense recognition period (in years) | 1 year 9 months 18 days | ||
| Restricted Stock Units (RSUs) [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Total unrecognized compensation | $ 65,400 | ||
| Remaining weighted average expense recognition period (in years) | 2 years 2 months 12 days | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 686,655 | 1,180,731 | 1,134,940 |
| Shares Paid for Tax Withholding for Share Based Compensation | 298,147 | 524,204 | 531,365 |
| Performance-Based Restricted Share Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Total unrecognized compensation | $ 26,700 | ||
| Remaining weighted average expense recognition period (in years) | 3 years 3 months 18 days | ||
| Employee Stock Purchase Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Discount rate of employee stock purchase plan (in hundredths) | 15.00% | ||
| Issuance of common stock under employee stock purchase plan, shares | 241,415 | 219,330 | 225,790 |
| Share-based compensation | $ 2,700 | $ 2,000 | $ 1,900 |
| Common Stock, Capital Shares Reserved for Future Issuance | 11,200,000 | ||
| Employee Stock Purchase Plan | Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Common Stock, Capital Shares Reserved for Future Issuance | 16,000,000.0 | ||
Share Based Compensation - Assumptions (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Employee Stock Option | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Expected price volatility, minimum (in hundredths) | 27.60% | 27.30% | 30.70% |
| Expected price volatility, maximum (in hundredths) | 28.20% | 29.80% | 30.90% |
| Risk-free interest rate, minimum (in hundredths) | 3.70% | 3.70% | 3.50% |
| Risk-free interest rate, maximum (in hundredths) | 4.30% | 4.60% | 4.50% |
| Weighted average expected lives (in years) | 4 years | 4 years 2 months 12 days | 4 years 2 months 12 days |
| Forfeiture rate, minimum (in hundredths) | 7.90% | 6.90% | 6.90% |
| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.60% | 2.00% | 1.70% |
| Performance-Based Restricted Share Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 1.59% | 1.95% | |
| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 28.47% | 28.32% | |
| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 4.14% | 4.06% | |
Share Based Compensation - Share Activity (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
|
| Stock options, additional disclosures | ||
| Weighted average fair value, Granted (in dollars per share) | $ 13.34 | |
| Weighted average remaining contractual term, Outstanding, end of period (in years) | 5 years 9 months 18 days | 6 years |
| Weighted average remaining contractual term, Exercisable, end of period (in years) | 4 years 8 months 12 days | |
| Aggregate intrinsic value, Outstanding, beginning of period | $ 95,268 | |
| Aggregate intrinsic value, Outstanding, end of period | 66,770 | $ 95,268 |
| Aggregate intrinsic value, Exercisable at end of period | $ 64,034 | |
| Share-Based Payment Arrangement, Tranche One | ||
| Restricted stock units | ||
| Granted (in shares) | (158,696) | |
| Restricted stock units, additional disclosures | ||
| Weighted average grant date fair value, Granted (in dollars per share) | $ 44.75 | |
| Employee Stock Option | ||
| Stock option activity | ||
| Outstanding, beginning of period (in shares) | 4,118,065 | |
| Granted (in shares) | 666,838 | |
| Exercised (in shares) | (534,369) | |
| Canceled (in shares) | (87,637) | |
| Outstanding, end of period (in shares) | 4,162,897 | 4,118,065 |
| Exercisable, end of period (in shares) | 2,946,516 | |
| Stock options, additional disclosures | ||
| Weighted average exercise price, Outstanding, beginning of period (in dollars per share) | $ 31.43 | |
| Weighted average exercise price, Granted (in dollars per share) | 54.87 | |
| Weighted average exercise price, Exercised (in dollars per share) | 23.66 | |
| Weighted average exercise price, Cancelled (in dollars per share) | 45.19 | |
| Weighted average exercise price, Outstanding, end of period (in dollars per share) | 35.89 | $ 31.43 |
| Weighted average exercise price, Exercisable, end of period (in dollars per share) | $ 29.66 | |
| Restricted Stock Units (RSUs) [Member] | ||
| Restricted stock units | ||
| Restricted, beginning of period (in shares) | 2,034,921 | |
| Granted (in shares) | (1,248,081) | |
| Exercised (in shares) | (894,064) | |
| Forfeited (in shares) | (202,333) | |
| Restricted, end of period (in shares) | 2,186,605 | 2,034,921 |
| Restricted stock units, additional disclosures | ||
| Weighted average grant date fair value, Restricted, beginning of period (in dollars per share) | $ 43.68 | |
| Weighted average grant date fair value, Granted (in dollars per share) | 52.74 | |
| Weighted average grant date fair value, Exercised (in dollars per share) | 44.40 | |
| Weighted average grant date fair value, Forfeited (in dollars per share) | 48.56 | |
| Weighted average grant date fair value, Restricted, end of period (in dollars per share) | $ 48.12 | $ 43.68 |
| Performance-Based Restricted Share Units | ||
| Restricted stock units | ||
| Restricted, beginning of period (in shares) | 744,980 | |
| Granted (in shares) | (471,017) | |
| Exercised (in shares) | (68,009) | |
| Forfeited (in shares) | (30,076) | |
| Restricted, end of period (in shares) | 959,216 | 744,980 |
| Restricted stock units, additional disclosures | ||
| Weighted average grant date fair value, Restricted, beginning of period (in dollars per share) | $ 46.51 | |
| Weighted average grant date fair value, Granted (in dollars per share) | 57.38 | |
| Weighted average grant date fair value, Exercised (in dollars per share) | 44.75 | |
| Weighted average grant date fair value, Forfeited (in dollars per share) | 49.45 | |
| Weighted average grant date fair value, Restricted, end of period (in dollars per share) | $ 52.18 | $ 46.51 |
Share Based Compensation - Other Information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Employee Stock Option | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 6,674 | $ 6,837 | $ 7,070 |
| Total intrinsic value of stock options exercised | 17,692 | 46,629 | 26,092 |
| Restricted Stock Units (RSUs) [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Total grant date fair value of restricted units vested and exercised | 39,693 | 36,292 | 32,446 |
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | 48,045 | 46,647 | 53,112 |
| Performance-Based Restricted Share Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award | |||
| Total grant date fair value of restricted units vested and exercised | 3,043 | 16,195 | 9,498 |
| Total intrinsic value of restricted units vested and exercised | $ 3,705 | $ 31,020 | $ 23,155 |
Acquisition of Allivet - Narrative (Details) - Allivet, Inc $ in Millions |
Dec. 30, 2024
USD ($)
|
|---|---|
| Business Combination [Line Items] | |
| Business combination, voting equity interest acquired, percentage | 100.00% |
| Consideration transferred | $ 135.0 |
Acquisition of Allivet (Details) - USD ($) $ in Thousands |
Dec. 27, 2025 |
Dec. 30, 2024 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|---|---|
| Less: liabilities assumed | ||||
| Goodwill | $ 346,724 | $ 246,419 | $ 246,419 | |
| Allivet, Inc | ||||
| Fair value of assets acquired | ||||
| Cash and cash equivalents | $ 2,905 | |||
| Inventories | 18,227 | |||
| Prepaid expenses and other current assets | 4,681 | |||
| Property and equipment | 10,779 | |||
| Operating lease right-of-use assets | 3,124 | |||
| Identifiable intangible assets | 26,500 | |||
| Total assets acquired | 66,216 | |||
| Less: liabilities assumed | ||||
| Accounts payable | 11,227 | |||
| Other accrued expenses | 3,084 | |||
| Current portion of operating lease liabilities | 728 | |||
| Deferred income taxes | 6,988 | |||
| Operating lease liabilities, less current portion | 1,649 | |||
| Other long-term liabilities | 45 | |||
| Total liabilities assumed | 23,721 | |||
| Goodwill | 100,305 | |||
| Total fair value of consideration transferred | $ 142,800 |
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 30, 2023 |
Dec. 28, 2024 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Gross goodwill | $ 307,192 | $ 290,934 | $ 307,192 |
| Accumulated impairment losses | (60,773) | (60,773) | (60,773) |
| Acquisition | 100,305 | ||
| Purchase price accounting adjustment | 16,258 | ||
| Net goodwill | $ 346,724 | $ 246,419 | $ 246,419 |
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Impairment expense | $ 0 | ||
| Intangible Assets, Net (Excluding Goodwill) | 52,000,000.0 | $ 23,100,000 | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | 0 | $ 0 |
| Goodwill and intangible asset impairment | $ 0 | $ 0 | $ 0 |
Debt - Schedule of Debt (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
|
| Line of Credit Facility | ||
| Senior Notes | $ 150,000 | |
| Unsecured Debt | 1,780,000 | $ 1,850,000 |
| Debt Issuance Costs, Net | (15,000) | (18,000) |
| Unsecured debt, net of debt issuance costs | 1,765,000 | 1,832,000 |
| Unsecured Debt, Current | 0 | 0 |
| Long-term Debt, Excluding Current Maturities | 1,764,974 | 1,831,969 |
| Letters of Credit Outstanding, Amount | 78,600 | 74,100 |
| 2022 Senior Credit Facility [Member] | ||
| Line of Credit Facility | ||
| Line of Credit Facility, Maximum Month-end Outstanding Amount | 230,000 | 300,000 |
| 5.25% Senior Notes | ||
| Line of Credit Facility | ||
| Senior Notes | 750,000 | |
| 1.75% Senior Notes | ||
| Line of Credit Facility | ||
| Senior Notes | 650,000 | 650,000 |
| Notes Payable to Banks | ||
| Line of Credit Facility | ||
| Senior Notes | $ 150,000 | $ 150,000 |
Debt - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2022 |
Oct. 30, 2020 |
Aug. 14, 2017 |
Dec. 27, 2025 |
Dec. 28, 2024 |
|
| Line of Credit Facility | |||||
| Senior Notes | $ 150.0 | ||||
| Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | 101.00% | ||||
| Senior Notes - Maturity Date | Aug. 14, 2029 | ||||
| Senior Notes - Interest Rate | 3.70% | ||||
| Shelf Notes - Amount | $ 300.0 | ||||
| Debt Instrument, Percentage of Principal Amount Redeemable | 100.00% | ||||
| Shelf Notes - Additional Interest Rate | 0.50 | ||||
| Debt Instrument, Covenant Compliance | all | ||||
| Amount of incremental credit facility which will result in modification of debt covenants | 100 million | ||||
| 2022 Senior Credit Facility [Member] | |||||
| Line of Credit Facility | |||||
| Senior Credit Facility, Maximum Borrowing Capacity | $ 1,200.0 | ||||
| Swingline Loan, Maximum Borrowing Capacity | 50.0 | ||||
| Letters of Credit, Maximum Borrowing Capacity | 150.0 | ||||
| Term Loan, Maximum Borrowing Capacity | $ 500.0 | ||||
| Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||
| Commitment fee for unused capacity | 0.10% | ||||
| 2022 Senior Credit Facility [Member] | Minimum | |||||
| Line of Credit Facility | |||||
| Commitment fee for unused capacity | 0.08% | ||||
| 2022 Senior Credit Facility [Member] | Maximum | |||||
| Line of Credit Facility | |||||
| Commitment fee for unused capacity | 0.15% | ||||
| 2022 Senior Credit Facility [Member] | Base Rate | Minimum | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||
| 2022 Senior Credit Facility [Member] | Base Rate | Maximum | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||||
| 2022 Senior Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||
| 2022 Senior Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||
| 2022 Senior Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||
| Number of Financial Covenants | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Covenant Description | two | ||||
| Fixed Charge Coverage Ratio Minimum Requirement | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Covenant Description | 2.00 | ||||
| Leverage Ratio Maximum Requirement | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Covenant Description | 4.00 | ||||
| 5.25% Senior Notes | |||||
| Line of Credit Facility | |||||
| Senior Notes | $ 750.0 | ||||
| 5.25% Senior Notes | Senior Notes | |||||
| Line of Credit Facility | |||||
| Senior Notes | $ 750.0 | ||||
| 1.75% Senior Notes | |||||
| Line of Credit Facility | |||||
| Senior Notes | $ 650.0 | $ 650.0 | |||
| Debt Instrument, Interest Rate, Plus Stated Percentage | 1.75% | ||||
| Debt Instrument, Issuance Date | Oct. 30, 2020 | ||||
| Senior Notes | |||||
| Line of Credit Facility | |||||
| Debt Instrument, Issuance Date | Aug. 14, 2017 |
Leases - Narrative (Details) $ in Millions |
12 Months Ended | |
|---|---|---|
|
Dec. 27, 2025
USD ($)
renewalPeriod
store
|
Dec. 28, 2024
USD ($)
store
|
|
| Lease Term and Discount [Line Items] | ||
| Lease Term Expiration Through Date | 2046 | |
| Store leases optional renewal periods, minimum | renewalPeriod | 2 | |
| Store leases optional renewal periods, maximum | renewalPeriod | 4 | |
| Store leases optional renewal periods | 5 years | |
| Finance Lease, Right-of-Use Asset, after Accumulated Amortization | $ 31.4 | $ 25.8 |
| Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property and equipment, net | Property and equipment, net |
| Sale-Leaseback Transaction, Number Of Properties | store | 41 | 20 |
| Sale Leaseback Transaction, Proceeds From Sale | $ 252.6 | $ 130.8 |
| Sale and Leaseback Transaction, Gain (Loss), Net | $ 91.7 | $ 62.2 |
| Minimum | ||
| Lease Term and Discount [Line Items] | ||
| Lessee, Operating Lease, Term of Contract | 10 years | |
| Maximum | ||
| Lease Term and Discount [Line Items] | ||
| Lessee, Operating Lease, Term of Contract | 20 years | |
Leases - Maturities (Details) $ in Thousands |
Dec. 27, 2025
USD ($)
|
|---|---|
| Operating Leases | |
| 2026 | $ 619,197 |
| 2027 | 594,384 |
| 2028 | 553,556 |
| 2029 | 509,491 |
| 2030 | 455,212 |
| After 2030 | 2,564,864 |
| Total lease payments | 5,296,704 |
| Less: Interest | (1,154,957) |
| Present value of lease liabilities | 4,141,747 |
| Finance Leases | |
| 2026 | 6,525 |
| 2027 | 6,463 |
| 2028 | 6,337 |
| 2029 | 5,978 |
| 2030 | 4,661 |
| After 2030 | 11,261 |
| Total lease payments | 41,225 |
| Less: Interest | (5,077) |
| Present value of lease liabilities | 36,148 |
| Total | |
| 2026 | 625,722 |
| 2027 | 600,847 |
| 2028 | 559,893 |
| 2029 | 515,469 |
| 2030 | 459,873 |
| After 2030 | 2,576,125 |
| Total lease payments | 5,337,929 |
| Less: Interest | (1,160,034) |
| Present value of lease liabilities | 4,177,895 |
| Operating Lease Lease Not Yet Commenced | $ 293,700 |
Leases - Cost (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Leases [Abstract] | |||
| Finance Lease, Right-of-Use Asset, Amortization | $ 2,786 | $ 3,333 | $ 3,379 |
| Finance Lease, Interest Expense | 1,227 | 1,510 | 1,632 |
| Operating Lease, Cost | 559,104 | 505,855 | 465,850 |
| Variable Lease, Cost | 115,918 | 105,898 | 99,044 |
| Lease, Cost | $ 679,035 | $ 616,596 | $ 569,905 |
Leases, Term and Discount (Details) |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Leases [Abstract] | ||
| Finance Lease, Weighted Average Remaining Lease Term | 7 years 6 months | 8 years 9 months 18 days |
| Operating Lease, Weighted Average Remaining Lease Term | 10 years 9 months 18 days | 10 years 4 months 24 days |
| Finance Lease, Weighted Average Discount Rate, Percent | 4.50% | 4.60% |
| Operating Lease, Weighted Average Discount Rate, Percent | 4.50% | 4.20% |
Leases (Details) - renewalPeriod |
12 Months Ended | |
|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
|
| Lease Term [Line Items] | ||
| Store leases optional renewal periods, maximum | 4 | |
| Store leases optional renewal periods, minimum | 2 | |
| Store leases optional renewal periods | 5 years | |
| Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property and equipment, net | Property and equipment, net |
| Maximum | ||
| Lease Term [Line Items] | ||
| Lessee, Operating Lease, Term of Contract | 20 years | |
| Minimum | ||
| Lease Term [Line Items] | ||
| Lessee, Operating Lease, Term of Contract | 10 years |
Leases - Other Information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Leases [Abstract] | |||
| Finance Lease, Principal Payments | $ 2,819 | $ 4,787 | $ 4,808 |
| Finance Lease, Interest Payment on Liability | 1,227 | 1,510 | 1,632 |
| Operating Lease, Payments, Use | $ 514,263 | $ 508,971 | $ 466,748 |
Capital Stock (Details) - $ / shares shares in Thousands |
3 Months Ended | 12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 27, 2025 |
Sep. 27, 2025 |
Jun. 28, 2025 |
Mar. 29, 2025 |
Dec. 28, 2024 |
Sep. 28, 2024 |
Jun. 29, 2024 |
Mar. 30, 2024 |
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
[1] | Dec. 19, 2024 |
|||||
| Equity [Abstract] | |||||||||||||||||
| Common stock, shares authorized | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 400,000 | ||||||||||||
| Preferred stock, shares authorized | 40 | 40 | 40 | 40 | |||||||||||||
| Dividends declared per common share outstanding (a) | $ 0.23 | $ 0.23 | $ 0.23 | $ 0.23 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.92 | [1] | $ 0.88 | [1] | $ 0.82 | ||||
| |||||||||||||||||
Capital Stock and Dividends (Details) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 10, 2026 |
Dec. 27, 2025 |
Sep. 27, 2025 |
Jun. 28, 2025 |
Mar. 29, 2025 |
Dec. 28, 2024 |
Sep. 28, 2024 |
Jun. 29, 2024 |
Mar. 30, 2024 |
Dec. 27, 2025 |
[1] | Dec. 28, 2024 |
[1] | Dec. 30, 2023 |
[1] | |||
| Dividends | |||||||||||||||||
| Common Stock, Dividends, Per Share, Declared | $ 0.23 | $ 0.23 | $ 0.23 | $ 0.23 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.92 | $ 0.88 | $ 0.82 | ||||||
| Subsequent Event | |||||||||||||||||
| Dividends | |||||||||||||||||
| Common Stock, Dividends, Per Share, Declared | $ 0.24 | ||||||||||||||||
| |||||||||||||||||
Treasury Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
Feb. 12, 2025 |
Jan. 26, 2022 |
|
| Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract] | |||||
| Remaining authorization under the share repurchase program | $ 1,130,000 | ||||
| Repurchased shares under the share repurchase program (in shares) | 6,617 | 10,576 | 13,658 | ||
| Treasury Stock Acquired, Average Cost Per Share | $ 54.53 | $ 53.02 | $ 43.71 | ||
| Stock Repurchased During Period, Value | $ 360,991 | $ 566,383 | $ 602,947 | ||
| Payments for Repurchase of Common Stock | $ (361,261) | $ (560,634) | $ (594,390) | ||
| Total amount of stock authorized under the repurchase program | $ 7,500,000 | ||||
| Share Repurchase Program, Increase In Authorized, Amount | $ 1,000,000 | ||||
Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
Dec. 27, 2025 |
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|||
| Basic net income per share | ||||||
| Net income | $ 1,096,087 | $ 1,096,087 | $ 1,101,240 | $ 1,107,226 | ||
| Shares, basic | [1] | 529,957 | 536,949 | 545,480 | ||
| Per share amount, basic (in dollars per share) | [1] | $ 2.07 | $ 2.05 | $ 2.03 | ||
| Dilutive stock options and restricted stock units outstanding, income | $ 0 | $ 0 | $ 0 | |||
| Dilutive stock options and restricted stock units outstanding, shares | 2,221 | 2,703 | 3,249 | |||
| Dilutive stock options and restricted stock units outstanding, per share (in dollars per share) | $ (0.01) | $ (0.01) | $ (0.01) | |||
| Net Income (Loss) Attributable to Parent, Diluted | $ 1,096,087 | $ 1,101,240 | $ 1,107,226 | |||
| Diluted net income per share | ||||||
| Shares, diluted | [1] | 532,178 | 539,652 | 548,729 | ||
| Diluted net income per share (in dollars per share) | [1] | $ 2.06 | $ 2.04 | $ 2.02 | ||
| Anitdilutive securities excluded from computation of earnings per share | 800 | 900 | 1,200 | |||
| ||||||
Income Taxes - Tax Provision (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Current tax expense: | |||
| Federal | $ 212,791 | $ 292,895 | $ 270,024 |
| State | 28,100 | 39,133 | 45,093 |
| Total current tax expense | 240,891 | 332,028 | 315,117 |
| Deferred tax expense (benefit): | |||
| Federal | 45,000 | (14,264) | 12,000 |
| State | 16,267 | (6,064) | (1,941) |
| Total deferred tax expense (benefit) | 61,267 | (20,328) | 10,059 |
| Total provision for income taxes | $ 302,158 | $ 311,700 | $ 325,176 |
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Tax assets | ||
| Inventory valuation | $ 39,048 | $ 36,312 |
| Accrued employee benefits costs | 23,107 | 19,409 |
| Operating lease liabilities | 1,006,509 | 875,226 |
| Deferred compensation | 15,657 | 14,218 |
| Workers' compensation insurance | 17,608 | 16,715 |
| Income tax credits | 16,179 | 20,230 |
| Amortization | 0 | 22,424 |
| Depreciation | 22,319 | 21,774 |
| Other | 49,706 | 50,133 |
| Total non current deferred tax asset | 1,190,133 | 1,076,441 |
| Tax liabilities | ||
| Operating lease right-of-use assets | (956,793) | (836,610) |
| Depreciation | (237,666) | (219,856) |
| Amortization | (36,924) | 0 |
| Other | (31,584) | (25,467) |
| Deferred Tax Liabilities, Gross | 1,262,967 | 1,081,933 |
| Net deferred tax liability | $ (72,834) | $ (5,492) |
Income Taxes - Narrative (Details) - USD ($) $ in Millions |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Tax Credit Carryforward, Amount | $ 18.2 | $ 23.3 |
| Deferred Tax Assets, Valuation Allowance | 0.0 | $ 0.0 |
| Unrecognized tax benefits that would Impact effective tax rate | $ 10.6 |
Income Taxes - Tax Rate Reconciliation (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Provision for income tax reconciliation to amounts computed at the federal statutory rate | |||
| U.S. federal statutory tax rate | $ 293,631 | $ 296,717 | $ 300,804 |
| State and local income taxes, net of federal income tax effects (a) | 32,807 | 25,327 | 32,931 |
| Effective Income Tax Rate Reconciliation, Tax Credit, Amount | (19,775) | (7,268) | (6,743) |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount | 1,432 | (4,040) | (4,956) |
| Effective Income Tax Rate Reconciliation, Changes In Unrecognized Tax Benefits, Amount | 3,343 | 964 | 3,140 |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | (9,280) | 0 | 0 |
| Total provision for income taxes | $ 302,158 | $ 311,700 | $ 325,176 |
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 2.40% | 1.80% | 2.30% |
| Effective Income Tax Rate Reconciliation, Tax Credit, Percent | (1.40%) | (0.50%) | (0.50%) |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent | 0.10% | (0.30%) | (0.30%) |
| Effective Income Tax Rate Reconciliation, Deduction, Percent | 0.20% | 0.10% | 0.20% |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (0.70%) | 0.00% | 0.00% |
| Effective Income Tax Rate Reconciliation, Percent | 21.60% | 22.10% | 22.70% |
| Tax Jurisdiction of Domicile [Extensible Enumeration] | UNITED STATES | UNITED STATES | UNITED STATES |
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Reconciliation of gross unrecognized tax benefits | |||
| Balance at beginning of year | $ 9,308 | $ 9,265 | $ 5,362 |
| Additions based on tax positions related to the current year | 1,516 | 1,698 | 2,211 |
| Additions for tax positions of prior years | 3,016 | 116 | 2,038 |
| Reductions for tax positions of prior years | (1,028) | (1,771) | (346) |
| Balance at end of year | $ 12,812 | $ 9,308 | $ 9,265 |
Compensation Related Costs, Retirement Benefits (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Retirement Benefits [Abstract] | |||
| Percentage match by company applicable to first 3 percent of employee's contribution | 100.00% | ||
| Maximum percentage of employee's eligible compensation eligible for 100% match (in hundredths) | 3.00% | ||
| Percentage match by company applicable to next 3 percent of employee's contribution | 50.00% | ||
| Minimum percentage of employee's compensation eligible for 50% match | 3.00% | ||
| Maximum percentage of employees's compensation eligible for 50% match | 6.00% | ||
| Company maximum match as a percentage of eligible compensation | 4.50% | ||
| Defined contribution plan, cost recognized | $ 22.1 | $ 20.1 | $ 18.8 |
Commitments and Contingencies (Details) - USD ($) $ in Millions |
Dec. 27, 2025 |
Dec. 28, 2024 |
|---|---|---|
| Other Commitments [Line Items] | ||
| Operating Lease Lease Not Yet Commenced | $ 293.7 | |
| Letters of Credit Outstanding, Amount | 78.6 | $ 74.1 |
| Purchase Obligation | 89.3 | |
| Construction of new stores under the Company’s fee development program | ||
| Other Commitments [Line Items] | ||
| Contractual Obligation | 37.5 | |
| Strategic Investments Related to Information Technology Systems and Inventory Purchase Obligations | ||
| Other Commitments [Line Items] | ||
| Purchase Obligation | $ 198.2 |
Segment Reporting (Details) - segment |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2022 |
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Revenue from External Customer | ||||
| Number of Reportable Segments | 1 | |||
| Average percent of sales | 100.00% | 100.00% | 100.00% | |
| Livestock, Equine & Agriculture | ||||
| Revenue from External Customer | ||||
| Average percent of sales | 27.00% | 26.00% | 27.00% | |
| Companion Animal | ||||
| Revenue from External Customer | ||||
| Average percent of sales | 24.00% | 24.00% | 25.00% | |
| Seasonal & Recreation | ||||
| Revenue from External Customer | ||||
| Average percent of sales | 24.00% | 24.00% | 22.00% | |
| Truck, Tool & Hardware | ||||
| Revenue from External Customer | ||||
| Average percent of sales | 15.00% | 16.00% | 16.00% | |
| Clothing, Gift & Décor | ||||
| Revenue from External Customer | ||||
| Average percent of sales | 10.00% | 10.00% | 10.00% | |
Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Dec. 27, 2025 |
Dec. 27, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Segment Reporting Information [Line Items] | ||||
| Net sales | $ 15,524,046 | $ 14,883,231 | $ 14,555,741 | |
| Cost of merchandise sold | 9,869,538 | 9,486,674 | 9,327,522 | |
| Depreciation and amortization | 494,011 | 447,162 | 393,049 | |
| Income tax expense | 302,158 | 311,700 | 325,176 | |
| Net income | $ 1,096,087 | $ 1,096,087 | 1,101,240 | 1,107,226 |
| Adjustments and reconciling items | ||||
| Segment Reporting Information [Line Items] | ||||
| Net income | 0 | 0 | 0 | |
| Reportable Segment | Operating Segments | ||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 15,524,046 | 14,883,231 | 14,555,741 | |
| Cost of merchandise sold | 9,869,538 | 9,486,674 | 9,327,522 | |
| Personnel expense | 2,061,227 | 1,939,494 | 1,883,710 | |
| Depreciation and amortization | 494,011 | 447,162 | 393,049 | |
| Other segment expenses | 1,631,881 | 1,542,369 | 1,472,548 | |
| Interest expense, net | 69,144 | 54,592 | 46,510 | |
| Income tax expense | 302,158 | 311,700 | 325,176 | |
| Net income | $ 1,096,087 | $ 1,101,240 | $ 1,107,226 | |