Owned Properties
−Removed: The Company owns 167 of its supermarkets either as free-standing locations or in shopping centers where it is the anchor tenant.
+Added: The Company owns 175 of its supermarkets either as free-standing locations or in shopping centers owned by the Company where it is the anchor tenant.
The Company also owns 29 undeveloped sites which are suitable for a free-standing store or shopping center development.
−Removed: The Company owns numerous outparcels and other acreage located adjacent to the shopping centers and supermarkets it owns.
+Added: The Company additionally owns various outparcels and other acreage located adjacent to the shopping centers and supermarkets it owns.
Real estate owned by the Company is generally located in the same geographic regions as its supermarkets.
+Added: All of the Company’s shopping center rental operations are part of the Company’s “other” segment.
+Added: See Note 1 to the Consolidated Financial Statements contained in this Annual Report on Form 10-K.
The shopping centers owned by the Company contain an aggregate of 9.3 million square feet of leasable space, of which 4.5 million square feet is used by the Company’s supermarkets.
The remainder of the leasable space in these shopping centers is leased or held for lease by the Company to third-party tenants.
−Removed: A breakdown by size of the shopping centers owned and operated by the Company is as follows:
+Added: A breakdown by size of the shopping centers owned and operated by the Company as of September 28, 2024 was as follows:
Less than 50,000 square feet
5 unchanged sentences
The Company also owns a 139,000 square foot warehouse on 21 acres of land approximately one mile from its main warehouse and distribution facility.
−Removed: The Company’s milk processing and packaging subsidiary, Milkco, Inc., owns a 140,000 square foot manufacturing and storage facility in Asheville, North Carolina.
+Added: The Company’s milk processing and packaging subsidiary, Milkco, Inc., which did not sustain physical damage as a result of Hurricane Helene, owns a 140,000 square foot manufacturing and storage facility in Asheville, North Carolina.
In addition to the plant, the 20-acre property includes truck cleaning and fuel storage facilities.
+Added: However, the water outage and ban on water usage, which was not lifted until November 2024, did impact operations and will have an impact on results for the first quarter of fiscal year 2025.
Certain long-term debt of the Company is secured by the owned properties.
15 unchanged sentences
Management believes that the long-term rent stability provided by these leases is a valuable asset of the Company.
+Added: LEGAL PROCEEDING S
+Added: Various legal proceedings and claims arising in the ordinary course of business are pending against the Company.
+Added: In the opinion of management, the ultimate liability, if any, from all pending legal proceedings and claims would not materially affect the Company’s business, financial condition, results of operations or cash flows.
+Added: MINE SAFETY DISCLOSURES
+Added: Not applicable.
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.