BUSINESS ACQUISITION (Tables)

12 Months Ended

Jul. 31, 2021

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

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.

	Year ended
	July 25, 2020
Sales	$	2,034,163
Net Income	30,313