BUSINESS ACQUISITION (Tables)

12 Months Ended

Jul. 25, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes how the purchase price has been allocated to the assets acquired and liabilities assumed at the date of acquisition.

	May 14, 2020
ASSETS
Current Assets
Cash and cash equivalents	$	257
Merchandise inventories	5,390
Other current assets	247
Total current assets	$	5,894
Property, equipment and fixtures, net	$	37,006
Operating lease assets	218,326
Trade name intangible asset	14,200
Other assets	271
Total assets	$	275,697
LIABILITIES
Accrued wages and benefits	$	623
Operating lease obligations	212,735
Total liabilities	$	213,358
Total Net Assets Acquired	$	62,339
Goodwill	11,540
Total Purchase Price	$	73,879

The following table summarizes how the purchase price has been allocated to the assets acquired and liabilities assumed at the date of acquisition:

	June 24, 2019
ASSETS
Current Assets
Cash and cash equivalents	$	24
Merchandise inventories	564
Other current assets	49
Total current assets	$	637
Property, equipment and fixtures, net	$	3,475
Trade name intangible asset	1,485
Other assets	255
Total assets	$	5,852
LIABILITIES
Total current liabilities	$	1,154
Total Net Assets Acquired	$	4,698
Goodwill	593
Total Purchase Price	$	5,291

Pro Forma Information

The unaudited pro forma financial information in the table below is not necessarily indicative of the results that would have occurred had the Fairway locations been acquired at the beginning of fiscal year 2019.

	Years ended
	July 25, 2020		July 27, 2019
Sales	$	2,034,163	$	1,934,426
Net Income	30,313		36,594