Note 7 - Property and Equipment

12 Months Ended

Nov. 30, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7. Property and Equipment

Property and equipment consist of the following:

	November 30, 2019			November 24, 2018
Land	$	9,478		$	9,908
Buildings and leasehold improvements		126,085			124,449
Machinery and equipment		115,131			108,379
Property and equipment at cost		250,694			242,736
Less accumulated depreciation		(148,970	)		(137,873	)
Property and equipment, net	$	101,724		$	104,863

The net book value of our property and equipment by reportable segment is a follows:

	November 30, 2019		November 24, 2018
Wholesale	$	28,993	$	26,511
Retail - Company-owned stores		55,625		61,380
Logistical Services		17,106		16,972
Total property and equipment, net	$	101,724	$	104,863

At November 30, 2019 we owned one retail store property located in Gulfport, Mississippi which was under contract to be sold. The net book value of the property of $1,569 at November 30, 2019 is classified as held for sale and is included in other current assets in the accompanying consolidated balance sheets at November 30, 2019. The sale of the property was completed subsequent to November 30, 2019 for net proceeds of $1,639.

Depreciation expense associated with the property and equipment shown above was included in income from operations in our consolidated statements of operations as follows:

	2019		2018		2017
Cost of goods sold (wholesale segment)	$	1,402	$	1,264	$	989
Selling, general and adminstrative expenses:
Wholesale segment		1,672		1,666		1,531
Retail segment		7,479		7,060		7,080
Logistical services segment		3,697		3,747		3,987
Total included in selling, general and adminstrative expenses		12,848		12,473		12,598
Total depreciation expense included in income from operations	$	14,250	$	13,737	$	13,587