Goodwill and Intangible Assets

6 Months Ended

Jun. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

E. Goodwill and Intangible Assets

No impairment of goodwill was recorded in any period.

The Company’s intangible assets as of June 29, 2024 and December 30, 2023 were as follows:

			As of June 29, 2024							As of December 30, 2023
	Estimated Useful		Gross Carrying		Accumulated			Net Book		Gross Carrying		Accumulated			Net Book
	Life (Years)		Value		Amortization			Value		Value		Amortization			Value
								(in thousands)
Trade names	Indefinite		$	56,984	$	-		$	56,984	$	56,984	$	—		$	56,984
Customer relationships		15		3,800		(1,267	)		2,533		3,800		(1,140	)		2,660
Total intangible assets, net			$	60,784	$	(1,267	)	$	59,517	$	60,784	$	(1,140	)	$	59,644

Amortization expense in the thirteen and twenty-six weeks ended June 29, 2024 was approximately $63,000 and $127,000, respectively. The Company expects to record amortization expense as follows:

Fiscal Year	Amount (in thousands)
Remainder of 2024	$	127
2025		253
2026		253
2027		253
2028		253
2029		253
Thereafter		1,141
Total amortization expense	$	2,533