11 unchanged sentences
We attempt to negotiate short-term and long-term agreements for some of our principal commodity, supply and equipment requirements, such as certain dairy products and poultry, depending on market conditions and expected demand.
−Removed: While we are in the process of contracting for certain key food and non-food supplies for fiscal 2026, these efforts may not be successful or yield our intended benefits.
+Added: While we are in the
+Added: process of contracting for certain key food and non-food supplies for fiscal 2026 and 2027, these efforts may not be successful or yield our intended benefits.
We continue to evaluate the possibility of entering into similar arrangements for other commodities and periodically evaluate hedging vehicles, such as direct financial instruments, to assist us in managing risk and variability associated with such commodities.
−Removed: As of March 31, 2026, we had no hedging contracts in place.
+Added: As of June 30, 2026, we had no hedging contracts in place.
Commodities for which we have not entered into contracts can be subject to unforeseen supply and cost fluctuations, which at times may be significant.
−Removed: Additionally, the cost of commodities subject to governmental regulation, such as dairy and corn, can be
−Removed: especially susceptible to price fluctuation.
+Added: Additionally, the cost of commodities subject to governmental regulation, such as dairy and corn, can be especially susceptible to price fluctuation.
Goods we purchase on the international market may be subject to even greater fluctuations in cost and availability, which could result from a variety of factors, including the value of the U.S.
1 unchanged sentence
We may not have the ability to increase menu prices or vary menu items in response to food commodity price increases.
−Removed: For the first quarter of fiscal 2026 and 2025, a hypothetical increase of 1% in food costs would have negatively impacted cost of sales by $2.1 million and $2.0 million, respectively.
+Added: For the second quarter of fiscal 2026 and 2025, a hypothetical increase of 1% in food costs would have negatively impacted cost of sales by $2.2 million and $2.0 million, respectively.
We are exposed to market risk from interest rate changes on our funded debt.
This exposure relates to the component of the interest rate on our Loan Agreement that is indexed to market rates.
−Removed: As of March 31, 2026 and December 30, 2025, we had no outstanding borrowings under the Loan Agreement.
+Added: As of June 30, 2026 and December 30, 2025, we had no outstanding borrowings under the Loan Agreement.
(See Note 5 of Notes to Condensed Consolidated Financial Statements in Part I, Item 1 of this report for further discussion of our debt.)
1 unchanged sentence
In addition, because changes in these investments are not taxable, gains and losses result in tax benefit and tax expense, respectively, and directly affect net income through the income tax provision.
−Removed: Based on balances at March 31, 2026 and December 30, 2025, a hypothetical 10% decline in the market value of our deferred compensation asset and related liability would not have impacted income before income taxes.
−Removed: However, under such a scenario, net income would have declined by $3.3 million and $3.2 million at March 31, 2026 and December 30, 2025, respectively.
+Added: Based on balances at June 30, 2026 and December 30, 2025, a hypothetical 10% decline in the market value of our deferred compensation asset and related liability would not have impacted income before income taxes.
+Added: However, under such a scenario, net income would have declined by $3.6 million and $3.2 million at June 30, 2026 and December 30, 2025, respectively.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.