0001771515-26-000066 | 10-Q | XBRL Viewer | Grocery Outlet Holding Corp

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Earnings (Net Loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings (Net Loss) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	2,326	2,114	3,141	2,348
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	1,675	1,745	1,716	1,478
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share (in shares)	651	369	1,425	870

Independent Operator Notes and Independent Operator Receivables - Schedule of Amounts Due from Independent Operators (Details) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Independent operator notes
Gross	$ 51,016	$ 57,532
Allowance, Current Portion	(457)	(454)
Allowance, Long-term Portion	(13,736)	(13,864)
Total	36,823	43,214
Net, Current Portion	2,236	2,301
Net, Long-term Portion	34,587	40,913
Independent operator receivables
Gross	31,293	30,743
Allowance, Current Portion	(15,304)	(11,799)
Allowance, Long-Term Portion	(1,480)	(1,427)
Total	14,509	17,517
Net, Current Portion	11,865	14,682
Net, Long-term Portion	2,644	2,835
Total
Gross	82,309	88,275
Allowance, Current Portion	(15,761)	(12,253)
Allowance, Long-Term Portion	(15,216)	(15,291)
Total	51,332	60,731
Net, Current Portion	14,101	16,983
Net, Long-term Portion	$ 37,231	$ 43,748

Organization and Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended			6 Months Ended
	Jul. 04, 2026 USD ($) store	Apr. 04, 2026 USD ($)	Jun. 28, 2025 USD ($) store	Jul. 04, 2026 USD ($) store reportingUnit	Jun. 28, 2025 USD ($) store	Jan. 03, 2026 USD ($) store
Subsidiary, Sale of Stock [Line Items]
Number of stores \| store	547			547
Number of reporting units \| reportingUnit				1
Goodwill impairment	$ 0	$ 158,000,000.0	$ 0	$ 158,000,000	$ 0
Impairment of long-lived assets	800,000		$ 9,000,000.0	$ 1,413,000	$ 10,776,000
Gift card, redemption period (in months)				12 months
Deferred revenue liability	$ 3,500,000			$ 3,500,000		$ 4,500,000
Variable interest entity, number of stores \| store	502		511	502	511	529
Net sales	$ 1,192,764,000		$ 1,179,772,000	$ 2,359,116,000	$ 2,305,339,000
Accrued and other current liabilities	36,822,000			$ 36,822,000		$ 54,277,000
Location, Statement of Income, Balance [Axis]: us-gaap:RestructuringCharges
Subsidiary, Sale of Stock [Line Items]
Impairment of long-lived assets			6,100,000		7,900,000
Location, Statement of Income, Balance [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Subsidiary, Sale of Stock [Line Items]
Impairment of long-lived assets			2,900,000		2,900,000
Variable Interest Entity, Not Primary Beneficiary
Subsidiary, Sale of Stock [Line Items]
Variable interest entity, termination period				75 days
Net sales	1,130,000,000		1,120,000,000	$ 2,240,000,000	2,190,000,000
Sales commissions and fees	169,700,000		$ 169,700,000	340,700,000	$ 331,400,000
Accrued and other current liabilities	7,700,000			7,700,000		6,100,000
Maximum loss exposure	$ 82,300,000			$ 82,300,000		$ 88,300,000

Share-based Awards - Schedule of Share-based Compensation Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 3,768	$ 1,960	$ 7,523	$ 7,418
Time-based and market-based stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	358	581	1,134	792
RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	2,870	3,214	5,726	6,137
MSUs and PSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 540	$ (1,835)	$ 663	$ 489

Long-term Debt (Tables)

6 Months Ended

Jul. 04, 2026

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following (amounts in thousands):


	July 4, 2026		January 3, 2026
2023 Credit Agreement:
Senior term loan due 2028	$	266,250	$	273,750
Revolving credit facility	240,000		220,000

Long-term debt, gross	506,250		493,750
Less: Unamortized debt issuance costs	(648)		(845)
Long-term debt, less unamortized debt issuance costs	505,602		492,905
Less: Current portion	(15,000)		(15,000)
Long-term debt, net	$	490,602	$	477,905

Schedule of Principal Maturities

Principal maturities of debt as of July 4, 2026 are as follows (amounts in thousands):


Remainder of fiscal 2026	$	7,500
Fiscal 2027	15,000
Fiscal 2028	483,750
Fiscal 2029 and thereafter	—


Total	$	506,250

Schedule of Interest Expense, Net

Interest expense, net, consisted of the following (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Interest on loans	$	7,745	$	8,103	$	15,416	$	16,100
Amortization of debt issuance costs and debt discounts	227		227		455		455
Interest on finance leases	49		55		92		114

Interest income	(1,079)		(1,232)		(2,254)		(2,522)
Capitalized interest	(370)		(609)		(768)		(1,083)
Interest expense, net	$	6,572	$	6,544	$	12,941	$	13,064

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
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Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
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-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 11: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
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-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-Section 50
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-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

+ Details

Long-term Debt - 2023 Credit Agreement Narrative (Details) - USD ($) $ in Thousands		6 Months Ended	22 Months Ended	31 Months Ended
	Feb. 21, 2023	Jul. 04, 2026	Mar. 31, 2025	Dec. 31, 2027
Credit Agreement \| Senior Notes \| One Month Interest Period Adjusted Term SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.25%
Credit Agreement \| Senior Notes \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Credit Agreement \| Senior Notes \| Specified Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.00%
Credit Agreement \| Senior Notes \| Specified Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.75%
Credit Agreement \| Senior Notes \| Specified Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.75%
Credit Agreement \| Senior Notes \| One, Three Or Six Month Interest Period Adjusted Term SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.10%
Credit Agreement \| Senior Notes \| One, Three Or Six Month Interest Period Adjusted Term SOFR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.75%
Credit Agreement \| Senior Notes \| One, Three Or Six Month Interest Period Adjusted Term SOFR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.75%
Revolving credit facility \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, leverage ratio	3.00
Revolving credit facility \| Credit Agreement \| Minimum
Debt Instrument [Line Items]
Debt instrument, leverage ratio		3.25
Revolving credit facility \| Credit Agreement \| Senior Notes
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000
Debt covenant, maximum principal amount for incremental facilities	$ 200,000
Debt covenant, maximum percent of consolidated EBITDA for incremental facilities (as a percent)	100.00%
Line of credit facility, periodic payment			$ 1,875
Revolving credit facility \| Credit Agreement \| Senior Notes \| Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, periodic payment				$ 3,750
Letter of Credit \| Credit Agreement \| Senior Notes
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000
Bridge Loan \| Credit Agreement \| Senior Notes
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000

Share-based Awards - Schedule of RSU, MSU and PSU Activity (Details)	6 Months Ended
	Jul. 04, 2026 $ / shares shares
RSUs
Number of Shares
Unvested, beginning balance (in shares)	1,521,255
Granted (in shares)	2,365,039
Vested (in shares)	(751,202)
Forfeited (in shares)	(334,085)
Unvested, ending balance (in shares)	2,801,007
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in usd per share) \| $ / shares	$ 15.20
Granted (in usd per share) \| $ / shares	6.43
Vested (in usd per share) \| $ / shares	15.97
Forfeited (in usd per share) \| $ / shares	9.44
Unvested, ending balance (in usd per share) \| $ / shares	$ 8.28
Weighted-Average Remaining Contractual Term
Weighted-average remaining contractual term, Unvested balance	2 years 1 month 6 days
MSUs and PSUs \| 2019 Incentive Plan
Number of Shares
Unvested, beginning balance (in shares)	151,400
Granted (in shares)	1,499,213
Adjustment for expected performance achievement (in shares)	111
Vested (in shares)	(151,135)
Forfeited (in shares)	(184,505)
Unvested, ending balance (in shares)	1,315,084
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in usd per share) \| $ / shares	$ 27.29
Granted (in usd per share) \| $ / shares	4.56
Adjustment for expected performance achievement (in usd per share) \| $ / shares	0
Vested (in usd per share) \| $ / shares	27.29
Forfeited (in usd per share) \| $ / shares	4.23
Unvested, ending balance (in usd per share) \| $ / shares	$ 4.62
Weighted-Average Remaining Contractual Term
Weighted-average remaining contractual term, Unvested balance	1 year 7 months 6 days
MSUs and PSUs \| Maximum \| 2019 Incentive Plan
Weighted-Average Remaining Contractual Term
Performance target level, percentage	2
MSUs and PSUs \| Pro Forma \| 2019 Incentive Plan
Number of Shares
Adjustment for expected performance achievement (in shares)	3,158,889

Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Debt Instrument [Line Items]
Long-term debt, gross	$ 506,250	$ 493,750
Less: Unamortized debt issuance costs	(648)	(845)
Long-term debt, less unamortized debt issuance costs	505,602	492,905
Less: Current portion	(15,000)	(15,000)
Long-term debt, net	490,602	477,905
Line of Credit \| Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	240,000	220,000
Senior term loan due 2028 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 266,250	$ 273,750

Independent Operator Notes and Independent Operator Receivables

6 Months Ended

Jul. 04, 2026

Receivables [Abstract]

Independent Operator Notes and Independent Operator Receivables

The amounts included in IO notes and IO receivables consist primarily of funds we loaned to IOs, net of estimated uncollectible amounts. IO notes, which are payable on demand and have no maturity date, typically bear interest at rates between 4.00% and 9.95%. Accrued interest receivable on IO notes is included within the "independent operator receivables and current portion of independent operator notes, net of allowance" line item on the condensed consolidated balance sheets and was $3.3 million and $3.9 million as of July 4, 2026 and January 3, 2026, respectively. There were no IO notes that were past due or on a non-accrual status due to delinquency as of July 4, 2026 or January 3, 2026. Notes and receivables from our IOs participating in our Temporary Commission Adjustment Program ("TCAP"), as detailed below, are not considered to be past due or on a non-accrual status due to delinquency and are excluded from such measures.

IO notes and IO receivables are financial assets which are measured and carried at amortized cost. An allowance for expected credit losses is deducted from (for expected losses) or added to (for expected recoveries) the amortized cost basis of these assets to arrive at the net carrying amount expected to be collected for such assets.

The allowance is estimated using an expected loss framework, which includes information about past events, current conditions, and reasonable and supportable forecasts that impact the collectibility of the reported amounts of the assets over their lifetime. The allowance is evaluated on a collective basis for assets with shared risk characteristics and credit quality indicators. The primary shared risk characteristic and credit quality indicator pools that we use as a basis for collective evaluation include:

•TCAP — Includes the notes and receivables from IOs with stores that have been open for more than 18 months that are participating in our TCAP as of the end of each reporting period. TCAP allows us to provide a greater commission to participating IOs who require assistance in meeting their working capital needs for various reasons, such as new or increased competition or differences in IO skills and experience.

•Non-TCAP — Includes the notes and receivables from IOs with stores that have been open for more than 18 months that are not participating in TCAP as of the end of each reporting period.

•New store — Includes the notes and receivables from IOs with stores that have been open for less than 18 months as of the end of each reporting period, and may or may not be participating in TCAP.

Assets without such shared risk characteristics or credit quality indicators, such as assets with unique circumstances or with delinquencies and historical losses in excess of their TCAP, non-TCAP or new store peers are evaluated on an individual basis. In the first half of fiscal 2026, we increased our allowance for IO notes and IO receivables by $15.4 million to reflect estimated credit losses on amounts advanced to certain independent operators subject to the Operator Agreement Terminations in connection with the Optimization Plan, as discussed further in Note 12.

Amounts due from IOs and the related allowances as of July 4, 2026 and January 3, 2026 consisted of the following (amounts in thousands):


			Allowance				Net
	Gross		Current Portion		Long-term Portion		Total		Current Portion		Long-term Portion
July 4, 2026
Independent operator notes	$	51,016	$	(457)	$	(13,736)	$	36,823	$	2,236	$	34,587
Independent operator receivables	31,293		(15,304)		(1,480)		14,509		11,865		2,644
Total	$	82,309	$	(15,761)	$	(15,216)	$	51,332	$	14,101	$	37,231


			Allowance				Net
	Gross		Current Portion		Long-term Portion		Total		Current Portion		Long-term Portion
January 3, 2026
Independent operator notes	$	57,532	$	(454)	$	(13,864)	$	43,214	$	2,301	$	40,913
Independent operator receivables	30,743		(11,799)		(1,427)		17,517		14,682		2,835
Total	$	88,275	$	(12,253)	$	(15,291)	$	60,731	$	16,983	$	43,748

A summary of activity in the IO notes and IO receivables allowance was as follows (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Beginning balance	$	35,395	$	21,611	$	27,544	$	18,479
Provision for IO notes and IO receivables reserves (1)	1,518		3,291		19,483		6,574

Write-off of uncollectible IO notes and IO receivables (2)	(5,936)		(1,724)		(16,050)		(1,875)
Ending balance	$	30,977	$	23,178	$	30,977	$	23,178

_______________________

(1) For the second quarter and first half of fiscal 2026, includes $(0.1) million and $15.4 million, respectively, related to certain Operator Agreement Terminations under the Optimization Plan, as defined in Note 12.

(2) For the second quarter and first half of fiscal 2026, includes $3.6 million and $11.7 million, respectively, related to certain Operator Agreement Terminations under the Optimization Plan, as defined in Note 12.

The following tables present the outstanding gross balance of IO notes by fiscal year of origination and credit quality indicator as of July 4, 2026 and January 3, 2026 (amounts in thousands):


	Fiscal Year of Origination
Credit Quality Indicator	2026 (YTD)		2025		2024		2023		2022		Prior		Total
July 4, 2026
TCAP	$	2,035	$	3,708	$	4,082	$	2,078	$	2,604	$	2,896	$	17,403
Non-TCAP	4,933		5,972		4,381		2,111		2,751		3,980		24,128
New store	2,984		6,501		—		—		—		—		9,485
Total	$	9,952	$	16,181	$	8,463	$	4,189	$	5,355	$	6,876	$	51,016


	Fiscal Year of Origination
Credit Quality Indicator	2025		2024		2023		2022		2021		Prior		Total
January 3, 2026
TCAP	$	4,826	$	5,982	$	3,972	$	3,907	$	1,589	$	2,489	$	22,765
Non-TCAP	7,253		4,745		2,762		3,680		2,285		2,689		23,414
New store	9,808		1,545		—		—		—		—		11,353
Total	$	21,887	$	12,272	$	6,734	$	7,587	$	3,874	$	5,178	$	57,532

TCAP IO Notes

Notes of IOs participating in our TCAP represented 44.7% and 50.6% of total IO note balances as of July 4, 2026 and January 3, 2026, respectively.

A total of $1.1 million of IO notes were added into our TCAP during the second quarter of fiscal 2026. The weighted-average contractual interest rate of these IO notes was 4.00% as of July 4, 2026, a reduction from the standard rate of 9.95%. In addition, $0.1 million of IO notes were transferred from TCAP to Non-TCAP during the second quarter of fiscal 2026.

A total of $3.3 million of IO notes were added into our TCAP during the first half of fiscal 2026. The weighted-average contractual interest rate of these IO notes was 4.00% as of July 4, 2026, a reduction from the standard rate of 9.95%. In addition, $0.3 million of IO notes were transferred from TCAP to Non-TCAP during the first half of fiscal 2026.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Assets
Accounts and financing receivable, allowance for credit loss, current	$ 15,761	$ 12,253
Allowance for doubtful other receivables, current	5	8
Accounts and financing receivable, allowance for credit loss, noncurrent	$ 15,216	$ 15,291
Stockholders' equity:
Common stock, par (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	99,084,492	98,153,086
Common stock, outstanding (in shares)	99,084,492	98,153,086
Preferred stock, par (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Long-term Debt - Schedule of Principal Maturities (Details) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Debt Disclosure [Abstract]
Remainder of fiscal 2026	$ 7,500
Fiscal 2027	15,000
Fiscal 2028	483,750
Fiscal 2029 and thereafter	0
Total	$ 506,250	$ 493,750

Goodwill

6 Months Ended

Jul. 04, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill

The following table summarizes the change in the net goodwill balance for the period presented (amounts in thousands):


	Gross Carrying Amount		Accumulated Impairment		Net Carrying Amount
Balance at January 3, 2026	$	782,835	$	(149,000)	$	633,835
Impairment loss	—		(158,000)		(158,000)
Balance at July 4, 2026	$	782,835	$	(307,000)	$	475,835

Goodwill is subject to an annual impairment evaluation which is performed during our fourth quarter or when events or changes in circumstances indicate that the value of goodwill may be impaired.

During the first quarter of fiscal 2026, we determined that a triggering event had occurred as a result of a decline in our stock price, necessitating an interim goodwill impairment evaluation. We performed a quantitative assessment as of April 4, 2026, and concluded that the carrying amount of goodwill exceeded its estimated fair value. Accordingly, we recognized a goodwill impairment charge of $158.0 million in the first quarter of fiscal 2026.

For the quantitative impairment assessment, we used a combination of an income approach and a market approach, which were equally weighted, to determine the estimated fair value of the reporting unit. For the income approach, a discounted cash flow model was used that required forecasts of cash flows, assumptions such as revenue growth rates and gross profit margins, among others, and an estimate of weighted-average cost of capital that we believe approximates the assumptions from a market participant’s perspective. For the market approach, a guideline public company model was used, which required judgment in estimating key assumptions including the selection of guideline companies and multiples of sales revenue and EBITDA. These estimates incorporated many uncertain factors which could be impacted by changes in market conditions, interest rates, growth rates, tax rates, costs, customer behavior, regulatory environment and other macroeconomic changes. In addition, we considered the reasonableness of the fair value of the reporting unit by assessing the implied enterprise value control premium based on our market capitalization. We determined that the implied control premium was reasonable which corroborates our fair value estimates. We categorized the fair value determination as Level 3 in the fair value hierarchy due to our use of internal projections and unobservable measurement inputs.

Assumptions used in impairment testing are made at a point in time and require significant judgment; therefore, they are subject to change based on the facts and circumstances present at each impairment test date. Additionally, these assumptions are generally interdependent and do not change in isolation.

No goodwill impairment charge was recorded in the second quarter of fiscal 2026, and no goodwill impairment charge was recorded in the first half of fiscal 2025.

- Definition

The entire disclosure for goodwill.

+ References + Details

Long-term Debt - Revolving Credit Facility Narrative (Details) - Credit Agreement - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2026	Jan. 03, 2026
Revolving credit facility
Debt Instrument [Line Items]
Long-term line of credit	$ 240.0	$ 220.0
Remaining borrowing capacity	$ 153.8
Effective interest rate (as a percent)	5.99%
Unused commitment fee percentage (as a percent)	0.20%
Revolving credit facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage (as a percent)	0.15%
Revolving credit facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage (as a percent)	0.30%
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding	$ 6.2

Share-based Awards

6 Months Ended

Jul. 04, 2026

Share-Based Payment Arrangement [Abstract]

Share-based Awards

For a discussion of our share-based incentive plans, refer to Note 8 to the consolidated financial statements in our 2025 Form 10-K.

Share-based Award Activity

During the first half of fiscal 2026, we granted market-based restricted stock units ("MSUs"), which vest in a single installment following a three-year performance period subject to continued service and the achievement of specified stock price targets based on the Company's common stock during the final 30 consecutive trading days of the performance period. In addition, we granted time-based restricted stock units ("RSUs") during the first half of fiscal 2026 with vesting periods ranging from one to three years.

The grant-date fair value of MSUs is estimated using a Monte Carlo simulation model. The significant assumptions used in the valuation model are as follows:

•Expected term — Represents the period from the grant date to the end of the three-year performance period.

•Expected volatility — Based on the historical volatility of our common stock over a period commensurate with the expected term of the award.

•Risk-free interest rate — Based on the U.S. Treasury yield curve in effect at the grant date, with maturities approximating the expected term of the award.

•Dividend yield — Assumed to be zero, as we have not historically paid, and do not expect to pay, cash dividends on our common stock.

The grant date fair value of MSUs awarded during the first half of fiscal 2026 was estimated using the Monte Carlo valuation model with the following weighted-average assumptions:


	26 Weeks Ended
	July 4, 2026

Expected volatility	56.1		%
Risk-free interest rate	3.7		%
Dividend yield	—		%
Expected term (in years)	2.78
Grant date fair value (per share unit)	$	4.56

The following table summarizes stock option activity under all equity incentive plans during the first half of fiscal 2026 (amounts in thousands, except option, per option and term data):



	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Time-Based Stock Options
Options outstanding as of January 3, 2026	1,716,759	$	14.79
Granted	—	—
Exercised	(12,276)	8.36
Forfeited	(419,960)	15.78
Options outstanding as of July 4, 2026	1,284,523	$	14.53	6.2	$	36
Options vested and expected to vest as of July 4, 2026	1,284,523	$	14.53	6.2	$	36
Options exercisable as of July 4, 2026	723,923	$	16.39	4.2	$	36
Market-Based and Performance-Based Stock Options
Options outstanding as of January 3, 2026	240,396	$	11.86
Granted	—	—
Exercised	—	—
Forfeited	(34,105)	11.64
Options outstanding as of July 4, 2026	206,291	$	11.90	7.3	$	46
Options vested and expected to vest as of July 4, 2026	206,291	$	11.90	7.3	$	46
Options exercisable as of July 4, 2026	39,624	$	12.03	1.6	$	46

The following table summarizes RSU activity under all equity incentive plans during the first half of fiscal 2026:


	Number of Shares	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term
Unvested balance as of January 3, 2026	1,521,255	$	15.20
Granted	2,365,039	6.43
Vested	(751,202)	15.97
Forfeited	(334,085)	9.44
Unvested balance as of July 4, 2026	2,801,007	$	8.28	2.1

RSUs that vested during the first half of fiscal 2026 had grant date fair values totaling $12.0 million.

The following table summarizes MSU and performance-based restricted stock unit ("PSU") activity under the Grocery Outlet Holding Corp. 2019 Incentive Plan during the first half of fiscal 2026:


	Number of Shares	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term
Unvested balance as of January 3, 2026	151,400	$	27.29
Granted	1,499,213	4.56
Adjustment for expected performance achievement (1)	111	—
Vested	(151,135)	27.29
Forfeited	(184,505)	4.23
Unvested balance as of July 4, 2026 (2)	1,315,084	$	4.62	1.6

_______________________

(1)Represents the year-to-date adjustment to previously granted awards based on performance expectations as of July 4, 2026.

(2)Up to an additional 3,158,889 MSUs and PSUs could potentially be included if the actual performance level achieved exceeds the current expected performance level (with 200% being the maximum performance level achievement).

PSUs vested during the first half of fiscal 2026 had grant date fair values totaling $4.1 million. No MSUs vested during the first half of fiscal 2026.

Share-based Compensation Expense

We recognize compensation expense for share-based awards by amortizing the grant date fair value on a straight-line basis over the expected vesting period to the extent we determine the achievement of the grant's service and/or performance vesting requirements is probable. We recognize share-based award forfeitures in the period such forfeitures occur.

Share-based compensation expense consisted of the following (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Time-based and market-based stock options	$	358	$	581	$	1,134	$	792

RSUs	2,870		3,214		5,726		6,137
MSUs and PSUs	540		(1,835)		663		489

Share-based compensation expense	$	3,768	$	1,960	$	7,523	$	7,418

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)
Beginning balance (in shares) at Dec. 28, 2024		97,262,557
Beginning balance at Dec. 28, 2024	$ 1,197,384	$ 97	$ 815,858	$ 381,429
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise and vesting of share-based awards (in shares)		742,511
Vesting of share-based awards	54	$ 1	53
Share-based compensation expense	5,458		5,458
Net (loss) income	(23,317)			(23,317)
Comprehensive (loss) income	(23,317)			(23,317)
Ending balance (in shares) at Mar. 29, 2025		98,005,068
Ending balance at Mar. 29, 2025	1,179,579	$ 98	821,369	358,112
Beginning balance (in shares) at Dec. 28, 2024		97,262,557
Beginning balance at Dec. 28, 2024	1,197,384	$ 97	815,858	381,429
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(18,356)
Comprehensive (loss) income	(18,356)
Ending balance (in shares) at Jun. 28, 2025		98,103,295
Ending balance at Jun. 28, 2025	1,186,842	$ 98	823,671	363,073
Beginning balance (in shares) at Mar. 29, 2025		98,005,068
Beginning balance at Mar. 29, 2025	1,179,579	$ 98	821,369	358,112
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise and vesting of share-based awards (in shares)		98,227
Vesting of share-based awards	342	$ 0	342
Share-based compensation expense	1,960		1,960
Net (loss) income	4,961			4,961
Comprehensive (loss) income	4,961			4,961
Ending balance (in shares) at Jun. 28, 2025		98,103,295
Ending balance at Jun. 28, 2025	$ 1,186,842	$ 98	823,671	363,073
Beginning balance (in shares) at Jan. 03, 2026	98,153,086	98,153,086
Beginning balance at Jan. 03, 2026	$ 983,663	$ 98	827,048	156,517
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise and vesting of share-based awards (in shares)		769,586
Vesting of share-based awards	0	$ 1	(1)
Share-based compensation expense	3,755		3,755
Net (loss) income	(180,322)			(180,322)
Comprehensive (loss) income	(180,322)			(180,322)
Ending balance (in shares) at Apr. 04, 2026		98,922,672
Ending balance at Apr. 04, 2026	$ 807,096	$ 99	830,802	(23,805)
Beginning balance (in shares) at Jan. 03, 2026	98,153,086	98,153,086
Beginning balance at Jan. 03, 2026	$ 983,663	$ 98	827,048	156,517
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(174,696)
Comprehensive (loss) income	$ (174,696)
Ending balance (in shares) at Jul. 04, 2026	99,084,492	99,084,492
Ending balance at Jul. 04, 2026	$ 816,593	$ 99	834,673	(18,179)
Beginning balance (in shares) at Apr. 04, 2026		98,922,672
Beginning balance at Apr. 04, 2026	807,096	$ 99	830,802	(23,805)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise and vesting of share-based awards (in shares)		161,820
Vesting of share-based awards	103	$ 0	103
Share-based compensation expense	3,768		3,768
Net (loss) income	5,626			5,626
Comprehensive (loss) income	$ 5,626			5,626
Ending balance (in shares) at Jul. 04, 2026	99,084,492	99,084,492
Ending balance at Jul. 04, 2026	$ 816,593	$ 99	$ 834,673	$ (18,179)

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

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+ Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Segment Information

6 Months Ended

Jul. 04, 2026

Segment Reporting [Abstract]

Segment Information

We are a retailer of quality, name-brand consumables and fresh products sold primarily through a network of independently operated stores. We manage our business on a consolidated basis and have one operating and one reportable segment. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. In addition, all of our sales were made to customers located in the U.S. and all property and equipment is located in the U.S.

The chief operating decision maker ("CODM"), who is our President and Chief Executive Officer, assesses performance for the segment and decides how to allocate resources based on net income (loss), which is reported on the condensed consolidated statements of operations and comprehensive income (loss). The CODM uses this measure in deciding where to reinvest profits and to monitor budget versus actual results. The measure of segment assets is reported on the condensed consolidated balance sheets as total assets.

Information for the segment, including the significant expenses regularly provided to the CODM, is provided in the following tables for the periods presented (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Net sales	$	1,192,764	$	1,179,772	$	2,359,116	$	2,305,339
Less:
Cost of sales (1)	830,115		817,575		1,649,561		1,599,344
Commission expenses (2)	168,889		169,691		338,257		331,411
Other selling expenses (3)	76,316		78,965		154,533		153,495
General and administrative expenses (4)	60,367		56,318		126,600		117,144
Restructuring charges, net (5)	5,428		11,157		23,619		45,032
Goodwill impairment	—		—		158,000		—
Other segment items (6)	3,768		1,960		7,523		7,418
Depreciation and amortization expenses	32,115		31,334		63,271		61,231
Interest income	(1,079)		(1,232)		(2,254)		(2,522)
Interest expense (7)	7,651		7,776		15,195		15,586
Income tax expense (benefit)	3,568		1,267		(493)		(4,444)
Net income (loss) and comprehensive income (loss)	$	5,626	$	4,961	$	(174,696)	$	(18,356)

_______________________

(1)Cost of sales includes merchandise costs, inventory markdowns, inventory losses, transportation costs and distribution and warehousing costs and excludes depreciation and amortization expenses, which were $1.9 million and $1.5 million for the second quarter of fiscal 2026 and fiscal 2025, respectively, and $3.6 million and $2.9 million for the first half of fiscal 2026 and fiscal 2025, respectively.

(2)Commission expenses represent commissions earned by IOs.

(3)Other selling expenses include occupancy for all stores, our portion of maintenance costs for IO stores, the cost of opening new IO stores and payroll, benefits, maintenance, supplies and utilities for company-operated stores.

(4)General and administrative expenses include payroll and benefits for corporate and field support, marketing and advertising, insurance and professional services and operator recruiting and training costs.

(5)Net restructuring charges include net costs associated with the Optimization Plan and the Restructuring Plan. See Note 12 for additional information.

(6)Other segment items represents share-based compensation expense.

(7)Interest expense primarily includes interest on loans, amortization of debt issuance costs and debt discounts, and interest on finance leases, less capitalized interest. See Note 4 for further discussion.


	26 Weeks Ended
	July 4, 2026		June 28, 2025
Purchases of property and equipment	$	94,507	$	119,669
Investments in intangible assets and licenses	5,969		10,801
Total capital expenditures	$	100,476	$	130,470

- Definition

The entire disclosure for segment reporting.

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+ Details

Earnings (Net Loss) Per Share

6 Months Ended

Jul. 04, 2026

Earnings Per Share [Abstract]

Earnings (Net Loss) Per Share

The following table sets forth the calculation of basic and diluted earnings (net loss) per share (amounts in thousands, except per share data):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Numerator
Net income (loss) and comprehensive income (loss)	$	5,626	$	4,961	$	(174,696)	$	(18,356)
Denominator
Weighted-average shares outstanding – basic	99,014		98,081		98,720		97,801
Effect of dilutive options (1)	3		61		—		—
Effect of dilutive RSUs and PSUs (1)	756		318		—		—
Weighted-average shares outstanding – diluted (2)	99,773		98,460		98,720		97,801
Earnings (net loss) per share:
Basic	$	0.06	$	0.05	$	(1.77)	$	(0.19)
Diluted	$	0.06	$	0.05	$	(1.77)	$	(0.19)

_______________________

(1)In calculating diluted weighted-average shares outstanding, we are required to include contingently issuable shares for market-based stock option awards, MSUs and PSUs as if the end of the reporting period were the end of the applicable contingency period, provided the underlying conditions are satisfied.

(2)For the first half of fiscal 2026 and the first half of fiscal 2025, there is no difference in the weighted-average shares outstanding used in the above calculations due to the Company's net loss.

The following weighted-average common share equivalents were excluded from the calculation of diluted earnings (net loss) per share because their effect would have been anti-dilutive (amounts in thousands):


	13 Weeks Ended		26 Weeks Ended
	July 4, 2026	June 28, 2025	July 4, 2026	June 28, 2025
Stock options	1,675	1,745	1,716	1,478
RSUs	651	369	1,425	870
Total	2,326	2,114	3,141	2,348

Restructuring (Tables)

6 Months Ended

Jul. 04, 2026

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges and Activity

The following table summarizes charges incurred related to the Optimization Plan during the second quarter and first half of fiscal 2026 (amounts in thousands), which are included in Restructuring charges, net on the condensed consolidated statements of operations and comprehensive income (loss):


	13 Weeks Ended		26 Weeks Ended
	July 4, 2026		July 4, 2026
Cash restructuring charges:
Costs associated with the Lease Exits (1)	$	13,066	$	13,856
Costs associated with the Operator Agreement Terminations	1,133		2,742
Legal, professional and other costs	589		845
Total cash restructuring charges	14,788		17,443
Net non-cash restructuring charges (credits):

Non-cash bad debt expense (credit) associated with the Operator Agreement Terminations	(97)		15,439


Net write-off of right-of-use assets and lease liabilities	(8,607)		(8,607)
Other net non-cash restructuring charges (2)	(656)		(656)
Total net non-cash restructuring charges (credits)	(9,360)		$	6,176
Total restructuring charges, net	$	5,428	$	23,619

_______________________

(1)Cash costs associated with the Lease Exits primarily include lease termination costs, costs to prepare the premises for surrender to the landlords and idle property costs, net of proceeds received for sales of assets.

(2)Other net non-cash restructuring charges include credits related to non-cash rent associated with the Lease Exits and loss on disposal of long-lived assets.

The following table summarizes the restructuring liability activity for the Optimization Plan during the first half of fiscal 2026 (amounts in thousands):


	Lease Termination Costs		Operator Agreement Termination Costs		Legal, Professional and Other Costs		Total
Balance at January 3, 2026	$	—	$	—	$	—	$	—
Cash restructuring charges	13,856		2,742		845		17,443
Cash payments	(12,632)		(2,742)		(292)		(15,666)
Balance at July 4, 2026	$	1,224	$	—	$	553	$	1,777

The following table summarizes charges incurred during the second quarter and first half of fiscal 2025 related to the Restructuring Plan, which are included in Restructuring charges, net on the condensed consolidated statements of operations and comprehensive income (loss) (amounts in thousands):


	13 Weeks Ended		26 Weeks Ended
	June 28, 2025		June 28, 2025
Cash restructuring charges:
Lease termination costs	$	5,019	$	34,112
Employee severance and benefit costs	—		1,532
Legal, professional and other costs	—		1,522
Total cash restructuring charges	5,019		37,166

Non-cash impairment and disposal of long-lived assets	6,138		7,866

Total restructuring charges	$	11,157	$	45,032

Organization and Summary of Significant Accounting Policies

6 Months Ended

Jul. 04, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Summary of Significant Account Policies

Organization and Summary of Significant Accounting Policies

Description of Business — Based in Emeryville, California, and incorporated in Delaware in 2014, Grocery Outlet Holding Corp. (together with its wholly owned subsidiaries, collectively, "Grocery Outlet," "we," or the "Company") is a growth-oriented, extreme value retailer of quality, name-brand consumables and fresh products sold primarily through a network of independently operated stores. As of July 4, 2026, we had 547 stores throughout California, Washington, Oregon, Pennsylvania, Tennessee, Nevada, Idaho, Maryland, North Carolina, Ohio, Virginia, Georgia, New Jersey, Alabama, Delaware and Kentucky.

Fiscal Year and Quarters — We operate on a fiscal year that ends on the Saturday closest to December 31st each year. The fiscal years ending January 2, 2027 ("fiscal 2026") and ended January 3, 2026 ("fiscal 2025") consist of 52 weeks and 53 weeks, respectively. References to the second quarter of fiscal 2026 and the second quarter of fiscal 2025 refer to the 13 weeks ended July 4, 2026 and June 28, 2025, respectively. References to the first half of fiscal 2026 and the first half of fiscal 2025 refer to the 26 weeks ended July 4, 2026 and June 28, 2025, respectively.

Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the applicable rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") for interim reporting. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for fiscal 2025 (the "2025 Form 10-K"). The condensed consolidated balance sheet as of January 3, 2026 included herein has been derived from those audited consolidated financial statements.

Our unaudited condensed consolidated financial statements include the accounts of Grocery Outlet Holding Corp. and its wholly owned subsidiaries. All intercompany balances and transactions were eliminated. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the periods presented. The interim results of operations and cash flows are not necessarily indicative of those results and cash flows expected for any future interim or annual period. Prior period amounts have been reclassified to conform to current period presentation.

Use of Estimates — The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results can differ from these estimates depending upon certain risks and uncertainties. Changes in these estimates are recorded when known. We consider our accounting policies relating to long-lived asset impairment and goodwill impairment to be significant accounting policies that involve management's estimates and judgments.

Merchandise Inventories — Merchandise inventories are valued at the lower of cost or net realizable value. Cost is primarily determined by the weighted-average cost method for warehouse inventories and the retail inventory method for store inventories. We provide for estimated inventory losses between physical inventory counts based on historical averages. This provision is adjusted periodically to reflect the actual shrink results of the physical inventory counts.

Leases — We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, current lease liabilities, and long-term lease liabilities in our condensed consolidated balance sheets. Finance leases are included in other assets, current lease liabilities, and long-term lease liabilities in our condensed consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease over the same term. Right-of-use assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term, reduced by landlord incentives. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is estimated to approximate the interest rate on a collateralized basis with similar terms and payments based on the information available at the commencement date, to determine the present value of our lease payments. Lease term is defined as the non-cancelable period of the lease plus any options to extend or terminate the lease when it is reasonably certain that we will exercise the option. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term while finance lease payments are charged to interest expense and depreciation and amortization expense over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet; lease expense for these short-term leases is recognized on a straight-line basis over the lease term.

We generally lease retail facilities for store locations, distribution centers, office space and equipment and account for these leases as operating leases. We account for certain equipment leases as finance leases. Lease and non-lease components are accounted for separately. We sublease certain real estate to unrelated third parties under non-cancelable leases and the sublease portfolio consists of operating leases for retail stores.

Goodwill — We have goodwill recorded on our condensed consolidated balance sheets. Goodwill represents the difference between the purchase price and the fair value of assets and liabilities acquired in a business combination. Goodwill is not amortized, but rather is subject to an annual impairment evaluation which is performed during our fourth quarter or when events or changes in circumstances indicate that the value of goodwill may be impaired. Our impairment evaluation of goodwill generally consists of an initial qualitative assessment of our reporting unit to determine whether it is more-likely-than-not that the fair value of the reporting unit is less than its carrying value. If it is concluded that this is the case, a quantitative assessment, based on a combination of discounted cash flows and a market approach based on revenue and earnings multiples, is performed which requires us to estimate future cash flows, growth rates and economic and market conditions. If the quantitative assessment indicates that the carrying value of our reporting unit exceeds its fair value, an impairment loss is calculated and recognized during that period. Measurement of such an impairment loss would be based on the excess of the carrying amount over fair value. The Company has one reporting unit for purposes of testing goodwill for impairment. During the first quarter of fiscal 2026, we recorded a goodwill impairment charge of $158.0 million. No goodwill impairment charges were recorded during the second quarter of fiscal 2026, and no goodwill impairment charges were recorded during the first half of fiscal 2025. Goodwill impairment charges are included in Goodwill impairment on the condensed consolidated statements of operations and comprehensive income (loss). See Note 3 for additional information.

Fair Value Measurements — Fair value is defined as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value of financial instruments is categorized based on the level of judgment associated with the inputs used to measure their fair values. Fair value is measured using inputs from the three levels of the fair value hierarchy, which are described as follows:

Level 1 — Quoted prices in active markets for identical assets or liabilities

Level 2 — Quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 — Unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions when pricing the financial instruments, such as cash flow modeling assumptions

The assets' or liabilities' fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The fair value framework requires that we maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

There were no assets or liabilities measured at fair value on a recurring basis as of July 4, 2026 or January 3, 2026.

Generally, long-lived assets and goodwill are recorded at fair value on a non-recurring basis after such assets have been impaired. As of July 4, 2026 and January 3, 2026, certain long-lived assets were determined to be impaired and as such were measured at fair value at the time of the impairment determination. For the second quarter and first half of fiscal 2026, we recognized $0.8 million and $1.4 million of impairment of long-lived assets, respectively, which was included in Selling, general and administrative expenses ("SG&A") on the condensed consolidated statements of operations and comprehensive income (loss). For the second quarter and first half of fiscal 2025, we recognized $9.0 million and $10.8 million of impairment of long-lived assets, respectively, of which $6.1 million and $7.9 million, respectively, resulted from the Restructuring Plan, as defined in Note 12, and was included in Restructuring charges, net, and $2.9 million in each respective period was included in SG&A on the condensed consolidated statements of operations and comprehensive income (loss). For discussion on the fair value determination of goodwill and the impairment charge recorded in the first half of fiscal 2026, see Note 1 under "Goodwill" and Note 3. For additional information, see "Property and Equipment" and "Goodwill and Other Intangible Assets" within Note 1 to the consolidated financial statements in our 2025 Form 10-K. Fair value was determined using Level 3 inputs at the time of impairment.

There were no transfers of assets or liabilities between levels within the fair value hierarchy during the second quarter and first half of fiscal 2026.

Our financial assets and liabilities are carried at cost, which generally approximates their fair value, as described below:

Cash and cash equivalents, independent operator ("IO") receivables, other accounts receivable and trade accounts payable — The carrying value of such financial instruments approximates their fair value due to factors such as their short-term nature, their variable interest rates or the effect of the related allowance for expected credit losses.

Independent operator notes — The carrying value of such financial instruments approximates their fair value due to the effect of the related allowance for expected credit losses. In the first half of fiscal 2026, we increased our allowance for IO notes and IO receivables in connection with Operator Agreement Terminations, as discussed further in Note 2 and Note 12.

Long-term debt — The following table sets forth by level within the fair value hierarchy the carrying amounts and estimated fair values of our significant financial liabilities that are not recorded at fair value on the condensed consolidated balance sheets (amounts in thousands):


	July 4, 2026				January 3, 2026
	Carrying Amount (1)		Estimated Fair Value (2)		Carrying Amount (1)		Estimated Fair Value (2)
Financial Liabilities:
Senior term loan (Level 2)	$	265,602	$	266,250	$	272,905	$	273,750
Revolving credit facility (Level 2)	$	240,000	$	240,000	$	220,000	$	220,000

_______________________

(1)The carrying amounts of the senior term loan as of July 4, 2026 and January 3, 2026 were net of debt issuance costs of $0.6 million and $0.8 million, respectively.

(2)The estimated fair value of the senior term loan and revolving credit facility borrowings under the 2023 Credit Agreement, as defined in Note 4, was deemed to approximate the carrying value, excluding unamortized debt issuance costs, because the interest rate is variable with short reset periods and is reflective of the current market rate.

Revenue Recognition

Net Sales — We recognize revenue from the sale of products at the point of sale, net of any taxes or deposits collected and remitted to governmental authorities. For e-commerce related sales in which a third-party provides home delivery service, revenue is recognized upon delivery to the customer. Our performance obligations are satisfied upon the transfer of goods to the customer, at the point of sale, and payment from customers is also due at the time of sale. Discounts provided to customers by us are recognized at the time of sale as a reduction in net sales as the products are sold. Discounts provided by IOs are not recognized as a reduction in net sales as these are provided solely by the IO who bears the incremental costs arising from the discount. We do not accept manufacturer coupons.

We did not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current year periods from performance obligations satisfied in previous periods, any material performance obligations other than our gift card deferred revenue liability, or any material costs to obtain or fulfill a contract as of July 4, 2026 and January 3, 2026.

Gift Cards — We record a deferred revenue liability when a Grocery Outlet gift card is sold. Revenue related to gift cards is recognized as the gift cards are redeemed, which is when we have satisfied our performance obligation. While gift cards are generally redeemed within 12 months, some are never fully redeemed. We reduce the liability and recognize revenue for the unused portion of the gift cards ("breakage") under the proportional method, where recognition of breakage income is based upon the historical run-off rate of unredeemed gift cards. Our gift card deferred revenue liability was $3.5 million and $4.5 million as of July 4, 2026 and January 3, 2026, respectively. Breakage amounts were immaterial for both the second quarter and first half of fiscal 2026 and fiscal 2025.

Disaggregated Revenues — The following table presents net sales revenue by type of product for the periods presented (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Perishable (1)	$	455,372	$	451,033	$	896,359	$	881,778
Non-perishable (2)	737,392		728,739		1,462,757		1,423,561
Total net sales	$	1,192,764	$	1,179,772	$	2,359,116	$	2,305,339

_______________________

(1) Perishable departments include dairy and deli; produce and floral; and fresh meat and seafood.

(2) Non-perishable departments include non-perishable grocery; frozen foods; beer and wine; general merchandise; and health and beauty care.

Variable Interest Entities — In accordance with the variable interest entities sub-section of Accounting Standards Codification ("ASC") Topic 810, Consolidation, we assess at each reporting period whether we, or any consolidated entity, are considered the primary beneficiary of a variable interest entity ("VIE") and therefore required to consolidate the financial results of the VIE in our condensed consolidated financial statements. Determining whether to consolidate a VIE may require judgment in assessing (i) whether an entity is a VIE, and (ii) if a reporting entity is a VIE's primary beneficiary. A reporting entity is determined to be a VIE's primary beneficiary if it has the power to direct the activities that most significantly impact a VIE's economic performance and the obligation to absorb losses or rights to receive benefits that could potentially be significant to a VIE.

We had 502, 529 and 511 stores operated by IOs as of July 4, 2026, January 3, 2026 and June 28, 2025, respectively. We have agreements in place with each IO. The IO orders merchandise exclusively from us which is provided to the IO on consignment. Under the independent operator agreement (the "Operator Agreement"), the IO selects a majority of merchandise that we consign to the IO, which the IO chooses from our merchandise order guide according to the IO's knowledge and experience with local customer purchasing trends, preferences, historical sales and similar factors. The Operator Agreement gives the IO discretion to adjust our initial prices if the overall effect of all price changes at any time comports with the reputation of our Grocery Outlet retail stores for selling quality, name-brand consumables and fresh products and other merchandise at extreme discounts. The IO is required to furnish initial working capital and to acquire certain store and safety assets. The IO is also required to hire, train and employ a properly trained workforce sufficient in number to enable the IO to fulfill its obligations under the Operator Agreement. Additionally, the IO is responsible for expenses required for business operations, including all labor costs, utilities, credit card processing fees, supplies, taxes, fines, levies and other expenses. Either party may terminate the Operator Agreement without cause upon no less than 75 days' notice.

As consignor of all merchandise to each IO, the aggregate net sales proceeds from merchandise sales belongs to us. Net sales related to IO stores were $1.13 billion and $1.12 billion for the second quarter of fiscal 2026 and fiscal 2025, respectively, and $2.24 billion and $2.19 billion for the first half of fiscal 2026 and fiscal 2025, respectively. We, in turn, pay each IO a commission based on a share of the gross profit of the store. Inventories and related net sales proceeds are our property, and we are responsible for store rent and related occupancy costs. IO commissions are expensed and included in SG&A. IO commissions were $169.7 million and $169.7 million for the second quarter of fiscal 2026 and fiscal 2025, respectively, and $340.7 million and $331.4 million for the first half of fiscal 2026 and fiscal 2025, respectively. IO commissions of $7.7 million and $6.1 million were included in accrued and other current liabilities as of July 4, 2026 and January 3, 2026, respectively.

An IO may fund its initial store investment from existing capital, a third-party loan or most commonly through a loan from us, as further discussed in Note 2. As collateral for IO obligations and performance, the Operator Agreement grants us the security interests in the assets owned by each IO related to the respective store. Since the total investment at risk associated with each IO is not sufficient to permit each IO to finance its activities without additional subordinated financial support, each IO is a VIE that we have a variable interest in. To determine if we are the primary beneficiary of a VIE, we evaluate whether we have (i) the power to direct the activities that most significantly impact the IO's economic performance and (ii) the obligation to absorb losses or the right to receive benefits of the IO that could potentially be significant to the IO. Our evaluation includes identification of significant activities and an assessment of the IO's ability to direct those activities.

Activities that most significantly impact the IO's economic performance relate to sales and labor. Sales activities that significantly impact the IO's economic performance include determining what merchandise the IO will order and sell and the price of such merchandise, both of which the IO controls. The IO is also responsible for all of its own labor. Labor activities that significantly impact the IO's economic performance include hiring, training, supervising, directing, compensating (including wages, salaries and employee benefits) and terminating all of the employees of the IO, activities which the IO controls. Accordingly, the IO has the power to direct the activities that most significantly impact the IO's economic performance. Furthermore, the mutual termination rights associated with the Operator Agreement illustrate the lack of ultimate control over the IO. Therefore, we are not the primary beneficiary of these VIEs.

Our maximum exposure, in accordance with ASC Topic 810, to the IOs is generally limited to the IO notes and IO receivables due from these entities, which were $82.3 million and $88.3 million, gross, as of July 4, 2026 and January 3, 2026, respectively. See Note 2 for additional information.

Recently Issued Accounting Pronouncements Not Yet Adopted

Accounting Standards Update ("ASU") No. 2024-03 — In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). ASU 2024-03 requires public entities to disclose, in the notes to financial statements, specified information about certain costs and expenses, including the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included in each expense caption presented on the face of the income statement, a qualitative description of the amounts remaining in these expense captions that are not separately disaggregated quantitatively, and the total amount of selling expenses and an entity's definition of selling expenses. ASU 2024-03, as clarified by ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. Further, the amendments in ASU 2024-03 should be applied either prospectively or retrospectively. We are currently evaluating the impact on our consolidated financial statements and disclosures.

ASU No. 2025-06 — In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) ("ASU 2025-06"). ASU 2025-06 removes all references to prescriptive and sequential software development stages throughout Subtopic 350-40, and therefore requires an entity to start capitalizing software costs when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in ASU 2025-06 further specify and clarify disclosure requirements for property, plant and equipment and intangibles, as well as supersede the website development costs guidance and incorporate the recognition requirements for website-specific development costs. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within those annual reporting periods, with early adoption permitted. Further, the amendments in ASU 2025-06 should be applied using a transition approach that is prospective, modified based on the project status and whether software costs were capitalized before the adoption date, or retrospective. We are currently evaluating the impact on our consolidated financial statements and disclosures.

Goodwill - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended
Goodwill - Narrative (Details) - USD ($)	Jul. 04, 2026	Apr. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Intangible Asset, Goodwill and Other [Abstract]
Goodwill impairment	$ 0	$ 158,000,000.0	$ 0	$ 158,000,000	$ 0

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Goodwill (Tables)

6 Months Ended

Jul. 04, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill

The following table summarizes the change in the net goodwill balance for the period presented (amounts in thousands):


	Gross Carrying Amount		Accumulated Impairment		Net Carrying Amount
Balance at January 3, 2026	$	782,835	$	(149,000)	$	633,835
Impairment loss	—		(158,000)		(158,000)
Balance at July 4, 2026	$	782,835	$	(307,000)	$	475,835

- Definition

Tabular disclosure of goodwill.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Independent Operator Notes and Independent Operator Receivables - Credit Quality Indicators (Prior Year) (Details) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Financing Receivable, Credit Quality Indicator [Line Items]
2025	$ 9,952	$ 21,887
2024	16,181	12,272
2023	8,463	6,734
2022	4,189	7,587
2021	5,355	3,874
Prior	6,876	5,178
Total	51,016	57,532
TCAP
Financing Receivable, Credit Quality Indicator [Line Items]
2025	2,035	4,826
2024	3,708	5,982
2023	4,082	3,972
2022	2,078	3,907
2021	2,604	1,589
Prior	2,896	2,489
Total	17,403	22,765
Non-TCAP
Financing Receivable, Credit Quality Indicator [Line Items]
2025	4,933	7,253
2024	5,972	4,745
2023	4,381	2,762
2022	2,111	3,680
2021	2,751	2,285
Prior	3,980	2,689
Total	24,128	23,414
New store
Financing Receivable, Credit Quality Indicator [Line Items]
2025	2,984	9,808
2024	6,501	1,545
2023	0	0
2022	0	0
2021	0	0
Prior	0	0
Total	$ 9,485	$ 11,353

Restructuring - Narrative (Details) $ in Millions	6 Months Ended
Restructuring - Narrative (Details) $ in Millions	Jul. 04, 2026 USD ($) store	Jun. 28, 2025 lease
Restructuring Cost and Reserve [Line Items]
Number of leases, terminated \| lease		28
Optimization Plan
Restructuring Cost and Reserve [Line Items]
Number of underperforming locations \| store	36
Number of closed stores in underperforming locations \| store	36
Minimum \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs (approximately) \| $	$ 15
Maximum \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs (approximately) \| $	$ 24

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Share-based Awards - Narrative (Details)	6 Months Ended
Share-based Awards - Narrative (Details)	Jul. 04, 2026 USD ($) store
MSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments \| store	1
Assumed dividend yield	0.00%
Fair value vested	$ 0
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Consecutive trading days	30 days
Fair value vested	$ 4,100,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value vested	$ 12,000,000.0
RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Share-based Awards - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jul. 04, 2026 USD ($) $ / shares shares
Time-Based Stock Options
Number of Options
Options outstanding, beginning balance (in shares) \| shares	1,716,759
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	(12,276)
Forfeited (in shares) \| shares	(419,960)
Options outstanding, ending balance (in shares) \| shares	1,284,523
Options vested and expected to vest (in shares) \| shares	1,284,523
Options exercisable (in shares) \| shares	723,923
Weighted-Average Exercise Price
Weighted-average exercise price, beginning balance (in usd per share) \| $ / shares	$ 14.79
Granted (in usd per share) \| $ / shares	0
Exercised (in usd per share) \| $ / shares	8.36
Forfeited (in usd per share) \| $ / shares	15.78
Weighted-average exercise price, ending balance (in usd per share) \| $ / shares	14.53
Option vested and expected to vest (in usd per share) \| $ / shares	14.53
Options exercisable (in usd per share) \| $ / shares	$ 16.39
Weighted-Average Remaining Contractual Term
Weighted-average remaining contractual term, outstanding	6 years 2 months 12 days
Weighted-average remaining contractual term, vested and expected to vest	6 years 2 months 12 days
Weighted-average remaining contractual term, exercisable	4 years 2 months 12 days
Aggregate Intrinsic Value
Aggregate intrinsic value \| $	$ 36
Vested and expected to vest, aggregate intrinsic value \| $	36
Exercisable, aggregate intrinsic value \| $	$ 36
Market-Based and Performance-Based Stock Options
Number of Options
Options outstanding, beginning balance (in shares) \| shares	240,396
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	0
Forfeited (in shares) \| shares	(34,105)
Options outstanding, ending balance (in shares) \| shares	206,291
Options vested and expected to vest (in shares) \| shares	206,291
Options exercisable (in shares) \| shares	39,624
Weighted-Average Exercise Price
Weighted-average exercise price, beginning balance (in usd per share) \| $ / shares	$ 11.86
Granted (in usd per share) \| $ / shares	0
Exercised (in usd per share) \| $ / shares	0
Forfeited (in usd per share) \| $ / shares	11.64
Weighted-average exercise price, ending balance (in usd per share) \| $ / shares	11.90
Option vested and expected to vest (in usd per share) \| $ / shares	11.90
Options exercisable (in usd per share) \| $ / shares	$ 12.03
Weighted-Average Remaining Contractual Term
Weighted-average remaining contractual term, outstanding	7 years 3 months 18 days
Weighted-average remaining contractual term, vested and expected to vest	7 years 3 months 18 days
Weighted-average remaining contractual term, exercisable	1 year 7 months 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value \| $	$ 46
Vested and expected to vest, aggregate intrinsic value \| $	46
Exercisable, aggregate intrinsic value \| $	$ 46

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Statement of Comprehensive Income [Abstract]
Net sales	$ 1,192,764,000	$ 1,179,772,000	$ 2,359,116,000	$ 2,305,339,000
Cost of sales	832,046,000	819,079,000	1,653,199,000	1,602,201,000
Gross profit	360,718,000	360,693,000	705,917,000	703,138,000
Selling, general and administrative expenses	339,524,000	336,764,000	686,546,000	667,842,000
Restructuring charges, net	5,428,000	11,157,000	23,619,000	45,032,000
Goodwill impairment	0	0	158,000,000	0
Operating income (loss)	15,766,000	12,772,000	(162,248,000)	(9,736,000)
Interest expense, net	6,572,000	6,544,000	12,941,000	13,064,000
Income (loss) before income taxes	9,194,000	6,228,000	(175,189,000)	(22,800,000)
Income tax expense (benefit)	3,568,000	1,267,000	(493,000)	(4,444,000)
Net income (loss) and comprehensive income (loss)	5,626,000	4,961,000	(174,696,000)	(18,356,000)
Net income (loss) and comprehensive income (loss)	$ 5,626,000	$ 4,961,000	$ (174,696,000)	$ (18,356,000)
Basic earnings (net loss) per share (in usd per share)	$ 0.06	$ 0.05	$ (1.77)	$ (0.19)
Diluted earnings (net loss) per share (in usd per share)	$ 0.06	$ 0.05	$ (1.77)	$ (0.19)
Weighted-average shares outstanding:
Basic (in shares)	99,014	98,081	98,720	97,801
Diluted (in shares)	99,773	98,460	98,720	97,801

Stockholders' Equity (Details) - 2024 Share Repurchase Program - USD ($) $ in Millions	Jul. 04, 2026	Dec. 28, 2024
Subsidiary, Sale of Stock [Line Items]
Share repurchase authorized amount		$ 100.0
Stock repurchase program, remaining authorized amount	$ 100.0

Income Taxes

6 Months Ended

Jul. 04, 2026

Income Tax Disclosure [Abstract]

Income Taxes

Our income tax expense (benefit) and effective income tax rate were as follows (amounts in thousands, except percentages):


	13 Weeks Ended						26 Weeks Ended
	July 4, 2026			June 28, 2025			July 4, 2026			June 28, 2025
Income tax expense (benefit)	$	3,568		$	1,267		$	(493)		$	(4,444)
Effective income tax rate	38.8		%	20.3		%	0.3		%	19.5		%

Our tax provision for interim periods was historically determined using an estimated annual effective tax rate ("estimated AETR"), adjusted for discrete events arising in each respective fiscal quarter. When forecasted ordinary annual pre‑tax income is near breakeven, small changes in estimated annual results may result in significant volatility in the annual effective income tax rate that is not considered reliable and meaningful. In such circumstances, the income tax effects are recognized discretely in the interim period ("discrete ETR"). During the second quarter and first half of fiscal 2026, we utilized the discrete ETR method to compute our income tax provision as the estimated AETR method would not provide a reliable and meaningful estimate of our tax provision.

Our effective income tax rate for the second quarter of fiscal 2026 was higher than the combined U.S. federal and state statutory income tax rates primarily due to shortfalls from share-based compensation and deduction limitations under Section 162(m) of the Internal Revenue Code. Our effective income tax rate for the first half of fiscal 2026 was lower than the combined U.S. federal and state statutory income tax rates primarily due to non-deductible goodwill impairment.

The change in our effective income tax rate for the second quarter of fiscal 2026 compared to the second quarter of fiscal 2025 was primarily attributable to changes in our levels of earnings. The change in our effective income tax rate for the first half of fiscal 2026 compared to the first half of fiscal 2025 was primarily attributable to non-deductible goodwill impairment recognized during the first half of fiscal 2026.

Our policy is to recognize interest and penalties associated with uncertain tax positions as part of the income tax provision in our condensed consolidated statements of operations and comprehensive income (loss) and include accrued interest and penalties with the related income tax liability on our condensed consolidated balance sheets. To date, we have not recognized any interest and penalties, nor have we accrued for or made payments for interest and penalties. We had no uncertain tax positions as of July 4, 2026 and January 3, 2026, respectively.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions (Details) $ in Thousands	3 Months Ended		6 Months Ended
Related Party Transactions (Details) $ in Thousands	Jul. 04, 2026 USD ($) store warehouse	Jun. 28, 2025 USD ($) store warehouse	Jul. 04, 2026 USD ($) store warehouse	Jun. 28, 2025 USD ($) store warehouse	Jan. 03, 2026 USD ($) store warehouse
Related Party Transaction [Line Items]
Number of stores \| store	547		547
Operating lease, right-of-use asset	$ 1,117,595		$ 1,117,595		$ 1,089,838
Accounts and financing receivable, before allowance for credit loss	$ 82,309		$ 82,309		$ 88,275
Related Party
Related Party Transaction [Line Items]
Number of stores \| store	14	14	14	14	14
Number of warehouses \| warehouse	1	1	1	1	1
Operating lease, right-of-use asset	$ 43,800		$ 43,800		$ 44,700
Operating lease liability	49,000		49,000		49,800
Aggregate annual lease payments	1,900	$ 1,900	3,800	$ 3,800
Accounts and financing receivable, before allowance for credit loss	$ 82,300		$ 82,300		$ 88,300

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Income Taxes (Tables)

6 Months Ended

Jul. 04, 2026

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit and Effective Tax Rate

Our income tax expense (benefit) and effective income tax rate were as follows (amounts in thousands, except percentages):


	13 Weeks Ended						26 Weeks Ended
	July 4, 2026			June 28, 2025			July 4, 2026			June 28, 2025
Income tax expense (benefit)	$	3,568		$	1,267		$	(493)		$	(4,444)
Effective income tax rate	38.8		%	20.3		%	0.3		%	19.5		%

Segment Information (Tables)

6 Months Ended

Jul. 04, 2026

Segment Reporting [Abstract]

Segment Reporting

Information for the segment, including the significant expenses regularly provided to the CODM, is provided in the following tables for the periods presented (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Net sales	$	1,192,764	$	1,179,772	$	2,359,116	$	2,305,339
Less:
Cost of sales (1)	830,115		817,575		1,649,561		1,599,344
Commission expenses (2)	168,889		169,691		338,257		331,411
Other selling expenses (3)	76,316		78,965		154,533		153,495
General and administrative expenses (4)	60,367		56,318		126,600		117,144
Restructuring charges, net (5)	5,428		11,157		23,619		45,032
Goodwill impairment	—		—		158,000		—
Other segment items (6)	3,768		1,960		7,523		7,418
Depreciation and amortization expenses	32,115		31,334		63,271		61,231
Interest income	(1,079)		(1,232)		(2,254)		(2,522)
Interest expense (7)	7,651		7,776		15,195		15,586
Income tax expense (benefit)	3,568		1,267		(493)		(4,444)
Net income (loss) and comprehensive income (loss)	$	5,626	$	4,961	$	(174,696)	$	(18,356)

_______________________

(2)Commission expenses represent commissions earned by IOs.

(5)Net restructuring charges include net costs associated with the Optimization Plan and the Restructuring Plan. See Note 12 for additional information.

(6)Other segment items represents share-based compensation expense.


	26 Weeks Ended
	July 4, 2026		June 28, 2025
Purchases of property and equipment	$	94,507	$	119,669
Investments in intangible assets and licenses	5,969		10,801
Total capital expenditures	$	100,476	$	130,470

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

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+ Details

Organization and Summary of Significant Accounting Policies - Schedule of Sales Revenue by Product (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,192,764	$ 1,179,772	$ 2,359,116	$ 2,305,339
Perishable
Disaggregation of Revenue [Line Items]
Total net sales	455,372	451,033	896,359	881,778
Non-Perishable
Disaggregation of Revenue [Line Items]
Total net sales	$ 737,392	$ 728,739	$ 1,462,757	$ 1,423,561

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

Income Taxes - Schedule of Income Tax Benefit and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 3,568	$ 1,267	$ (493)	$ (4,444)
Effective income tax rate (as a percent)	38.80%	20.30%	0.30%	19.50%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jul. 04, 2026
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Share Repurchase Program In the fourth quarter of fiscal 2024, our Board of Directors (the "Board") approved a new share repurchase program (the "2024 Share Repurchase Program"). The 2024 Share Repurchase Program does not have an expiration date and authorizes us to repurchase up to $100.0 million of our outstanding common stock (inclusive of fees and commissions) utilizing a variety of methods including open-market purchases, accelerated equity repurchase programs, privately negotiated transactions, block trades and under a Rule 10b5-1 plan. Any repurchased shares are constructively retired and returned to an unissued status. As of July 4, 2026, we had $100.0 million of repurchase authority remaining under the 2024 Share Repurchase Program.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Segment Information (Details)	3 Months Ended				6 Months Ended
Segment Information (Details)	Jul. 04, 2026 USD ($)	Apr. 04, 2026 USD ($)	Jun. 28, 2025 USD ($)	Mar. 29, 2025 USD ($)	Jul. 04, 2026 USD ($) segment	Jun. 28, 2025 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment					1
Number of reportable segments \| segment					1
Segment Reporting [Line Items]
Net sales	$ 1,192,764,000		$ 1,179,772,000		$ 2,359,116,000	$ 2,305,339,000
Restructuring charges	5,428,000		11,157,000		23,619,000	45,032,000
Goodwill impairment	0	$ 158,000,000.0	0		158,000,000	0
Income tax expense (benefit)	3,568,000		1,267,000		(493,000)	(4,444,000)
Net income (loss) and comprehensive income (loss)	5,626,000	(180,322,000)	4,961,000	$ (23,317,000)	(174,696,000)	(18,356,000)
Net income (loss) and comprehensive income (loss)	5,626,000	$ (180,322,000)	4,961,000	$ (23,317,000)	(174,696,000)	(18,356,000)
Reportable Segment
Segment Reporting [Line Items]
Net sales	1,192,764,000		1,179,772,000		2,359,116,000	2,305,339,000
Cost of sales	830,115,000		817,575,000		1,649,561,000	1,599,344,000
Commission expenses	168,889,000		169,691,000		338,257,000	331,411,000
Other selling expenses	76,316,000		78,965,000		154,533,000	153,495,000
General and administrative expenses	60,367,000		56,318,000		126,600,000	117,144,000
Restructuring charges	5,428,000		11,157,000		23,619,000	45,032,000
Goodwill impairment	0		0		158,000,000	0
Other segment items	3,768,000		1,960,000		7,523,000	7,418,000
Depreciation and amortization expenses	32,115,000		31,334,000		63,271,000	61,231,000
Interest income	(1,079,000)		(1,232,000)		(2,254,000)	(2,522,000)
Interest expense	7,651,000		7,776,000		15,195,000	15,586,000
Income tax expense (benefit)	3,568,000		1,267,000		(493,000)	(4,444,000)
Net income (loss) and comprehensive income (loss)	5,626,000		4,961,000
Net income (loss) and comprehensive income (loss)	5,626,000		4,961,000
Depreciation and amortization	$ 1,900,000		$ 1,500,000		3,600,000	2,900,000
Total capital expenditures					100,476,000	130,470,000
Reportable Segment \| Purchases of property and equipment
Segment Reporting [Line Items]
Total capital expenditures					94,507,000	119,669,000
Reportable Segment \| Investments in intangible assets and licenses
Segment Reporting [Line Items]
Total capital expenditures					$ 5,969,000	$ 10,801,000

Long-term Debt - Schedule of Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Debt Disclosure [Abstract]
Interest on loans	$ 7,745	$ 8,103	$ 15,416	$ 16,100
Amortization of debt issuance costs and debt discounts	227	227	455	455
Interest on finance leases	49	55	92	114
Interest income	(1,079)	(1,232)	(2,254)	(2,522)
Capitalized interest	(370)	(609)	(768)	(1,083)
Interest expense, net	$ 6,572	$ 6,544	$ 12,941	$ 13,064

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 04, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Year and Quarters	We operate on a fiscal year that ends on the Saturday closest to December 31st each year. The fiscal years ending January 2, 2027 ("fiscal 2026") and ended January 3, 2026 ("fiscal 2025") consist of 52 weeks and 53 weeks, respectively. References to the second quarter of fiscal 2026 and the second quarter of fiscal 2025 refer to the 13 weeks ended July 4, 2026 and June 28, 2025, respectively. References to the first half of fiscal 2026 and the first half of fiscal 2025 refer to the 26 weeks ended July 4, 2026 and June 28, 2025, respectively.
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and the applicable rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") for interim reporting. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for fiscal 2025 (the "2025 Form 10-K"). The condensed consolidated balance sheet as of January 3, 2026 included herein has been derived from those audited consolidated financial statements.
Consolidation	Our unaudited condensed consolidated financial statements include the accounts of Grocery Outlet Holding Corp. and its wholly owned subsidiaries. All intercompany balances and transactions were eliminated. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the periods presented. The interim results of operations and cash flows are not necessarily indicative of those results and cash flows expected for any future interim or annual period.
Reclassifications	Prior period amounts have been reclassified to conform to current period presentation.
Use of Estimates	The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results can differ from these estimates depending upon certain risks and uncertainties. Changes in these estimates are recorded when known. We consider our accounting policies relating to long-lived asset impairment and goodwill impairment to be significant accounting policies that involve management's estimates and judgments.
Merchandise Inventories	Merchandise inventories are valued at the lower of cost or net realizable value. Cost is primarily determined by the weighted-average cost method for warehouse inventories and the retail inventory method for store inventories. We provide for estimated inventory losses between physical inventory counts based on historical averages. This provision is adjusted periodically to reflect the actual shrink results of the physical inventory counts.
Leases	We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, current lease liabilities, and long-term lease liabilities in our condensed consolidated balance sheets. Finance leases are included in other assets, current lease liabilities, and long-term lease liabilities in our condensed consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease over the same term. Right-of-use assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term, reduced by landlord incentives. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate, which is estimated to approximate the interest rate on a collateralized basis with similar terms and payments based on the information available at the commencement date, to determine the present value of our lease payments. Lease term is defined as the non-cancelable period of the lease plus any options to extend or terminate the lease when it is reasonably certain that we will exercise the option. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term while finance lease payments are charged to interest expense and depreciation and amortization expense over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet; lease expense for these short-term leases is recognized on a straight-line basis over the lease term. We generally lease retail facilities for store locations, distribution centers, office space and equipment and account for these leases as operating leases. We account for certain equipment leases as finance leases. Lease and non-lease components are accounted for separately. We sublease certain real estate to unrelated third parties under non-cancelable leases and the sublease portfolio consists of operating leases for retail stores.
Goodwill	We have goodwill recorded on our condensed consolidated balance sheets. Goodwill represents the difference between the purchase price and the fair value of assets and liabilities acquired in a business combination. Goodwill is not amortized, but rather is subject to an annual impairment evaluation which is performed during our fourth quarter or when events or changes in circumstances indicate that the value of goodwill may be impaired. Our impairment evaluation of goodwill generally consists of an initial qualitative assessment of our reporting unit to determine whether it is more-likely-than-not that the fair value of the reporting unit is less than its carrying value. If it is concluded that this is the case, a quantitative assessment, based on a combination of discounted cash flows and a market approach based on revenue and earnings multiples, is performed which requires us to estimate future cash flows, growth rates and economic and market conditions. If the quantitative assessment indicates that the carrying value of our reporting unit exceeds its fair value, an impairment loss is calculated and recognized during that period. Measurement of such an impairment loss would be based on the excess of the carrying amount over fair value. The Company has one reporting unit for purposes of testing goodwill for impairment. During the first quarter of fiscal 2026, we recorded a goodwill impairment charge of $158.0 million. No goodwill impairment charges were recorded during the second quarter of fiscal 2026, and no goodwill impairment charges were recorded during the first half of fiscal 2025. Goodwill impairment charges are included in Goodwill impairment on the condensed consolidated statements of operations and comprehensive income (loss).
Fair Value Measurements	Fair value is defined as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value of financial instruments is categorized based on the level of judgment associated with the inputs used to measure their fair values. Fair value is measured using inputs from the three levels of the fair value hierarchy, which are described as follows: Level 1 — Quoted prices in active markets for identical assets or liabilities Level 2 — Quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — Unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions when pricing the financial instruments, such as cash flow modeling assumptions The assets' or liabilities' fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The fair value framework requires that we maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There were no assets or liabilities measured at fair value on a recurring basis as of July 4, 2026 or January 3, 2026. Generally, long-lived assets and goodwill are recorded at fair value on a non-recurring basis after such assets have been impaired. As of July 4, 2026 and January 3, 2026, certain long-lived assets were determined to be impaired and as such were measured at fair value at the time of the impairment determination. For the second quarter and first half of fiscal 2026, we recognized $0.8 million and $1.4 million of impairment of long-lived assets, respectively, which was included in Selling, general and administrative expenses ("SG&A") on the condensed consolidated statements of operations and comprehensive income (loss). For the second quarter and first half of fiscal 2025, we recognized $9.0 million and $10.8 million of impairment of long-lived assets, respectively, of which $6.1 million and $7.9 million, respectively, resulted from the Restructuring Plan, as defined in Note 12, and was included in Restructuring charges, net, and $2.9 million in each respective period was included in SG&A on the condensed consolidated statements of operations and comprehensive income (loss). For discussion on the fair value determination of goodwill and the impairment charge recorded in the first half of fiscal 2026, see Note 1 under "Goodwill" and Note 3. For additional information, see "Property and Equipment" and "Goodwill and Other Intangible Assets" within Note 1 to the consolidated financial statements in our 2025 Form 10-K. Fair value was determined using Level 3 inputs at the time of impairment. There were no transfers of assets or liabilities between levels within the fair value hierarchy during the second quarter and first half of fiscal 2026. Our financial assets and liabilities are carried at cost, which generally approximates their fair value, as described below: Cash and cash equivalents, independent operator ("IO") receivables, other accounts receivable and trade accounts payable — The carrying value of such financial instruments approximates their fair value due to factors such as their short-term nature, their variable interest rates or the effect of the related allowance for expected credit losses. Independent operator notes — The carrying value of such financial instruments approximates their fair value due to the effect of the related allowance for expected credit losses. In the first half of fiscal 2026, we increased our allowance for IO notes and IO receivables in connection with Operator Agreement Terminations, as discussed further in Note 2 and Note 12.
Revenue Recognition	Net Sales — We recognize revenue from the sale of products at the point of sale, net of any taxes or deposits collected and remitted to governmental authorities. For e-commerce related sales in which a third-party provides home delivery service, revenue is recognized upon delivery to the customer. Our performance obligations are satisfied upon the transfer of goods to the customer, at the point of sale, and payment from customers is also due at the time of sale. Discounts provided to customers by us are recognized at the time of sale as a reduction in net sales as the products are sold. Discounts provided by IOs are not recognized as a reduction in net sales as these are provided solely by the IO who bears the incremental costs arising from the discount. We do not accept manufacturer coupons. We did not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current year periods from performance obligations satisfied in previous periods, any material performance obligations other than our gift card deferred revenue liability, or any material costs to obtain or fulfill a contract as of July 4, 2026 and January 3, 2026. Gift Cards — We record a deferred revenue liability when a Grocery Outlet gift card is sold. Revenue related to gift cards is recognized as the gift cards are redeemed, which is when we have satisfied our performance obligation. While gift cards are generally redeemed within 12 months, some are never fully redeemed. We reduce the liability and recognize revenue for the unused portion of the gift cards ("breakage") under the proportional method, where recognition of breakage income is based upon the historical run-off rate of unredeemed gift cards.
Variable Interest Entities	In accordance with the variable interest entities sub-section of Accounting Standards Codification ("ASC") Topic 810, Consolidation, we assess at each reporting period whether we, or any consolidated entity, are considered the primary beneficiary of a variable interest entity ("VIE") and therefore required to consolidate the financial results of the VIE in our condensed consolidated financial statements. Determining whether to consolidate a VIE may require judgment in assessing (i) whether an entity is a VIE, and (ii) if a reporting entity is a VIE's primary beneficiary. A reporting entity is determined to be a VIE's primary beneficiary if it has the power to direct the activities that most significantly impact a VIE's economic performance and the obligation to absorb losses or rights to receive benefits that could potentially be significant to a VIE. We had 502, 529 and 511 stores operated by IOs as of July 4, 2026, January 3, 2026 and June 28, 2025, respectively. We have agreements in place with each IO. The IO orders merchandise exclusively from us which is provided to the IO on consignment. Under the independent operator agreement (the "Operator Agreement"), the IO selects a majority of merchandise that we consign to the IO, which the IO chooses from our merchandise order guide according to the IO's knowledge and experience with local customer purchasing trends, preferences, historical sales and similar factors. The Operator Agreement gives the IO discretion to adjust our initial prices if the overall effect of all price changes at any time comports with the reputation of our Grocery Outlet retail stores for selling quality, name-brand consumables and fresh products and other merchandise at extreme discounts. The IO is required to furnish initial working capital and to acquire certain store and safety assets. The IO is also required to hire, train and employ a properly trained workforce sufficient in number to enable the IO to fulfill its obligations under the Operator Agreement. Additionally, the IO is responsible for expenses required for business operations, including all labor costs, utilities, credit card processing fees, supplies, taxes, fines, levies and other expenses. Either party may terminate the Operator Agreement without cause upon no less than 75 days' notice. As consignor of all merchandise to each IO, the aggregate net sales proceeds from merchandise sales belongs to us. Net sales related to IO stores were $1.13 billion and $1.12 billion for the second quarter of fiscal 2026 and fiscal 2025, respectively, and $2.24 billion and $2.19 billion for the first half of fiscal 2026 and fiscal 2025, respectively. We, in turn, pay each IO a commission based on a share of the gross profit of the store. Inventories and related net sales proceeds are our property, and we are responsible for store rent and related occupancy costs. IO commissions are expensed and included in SG&A. IO commissions were $169.7 million and $169.7 million for the second quarter of fiscal 2026 and fiscal 2025, respectively, and $340.7 million and $331.4 million for the first half of fiscal 2026 and fiscal 2025, respectively. IO commissions of $7.7 million and $6.1 million were included in accrued and other current liabilities as of July 4, 2026 and January 3, 2026, respectively. An IO may fund its initial store investment from existing capital, a third-party loan or most commonly through a loan from us, as further discussed in Note 2. As collateral for IO obligations and performance, the Operator Agreement grants us the security interests in the assets owned by each IO related to the respective store. Since the total investment at risk associated with each IO is not sufficient to permit each IO to finance its activities without additional subordinated financial support, each IO is a VIE that we have a variable interest in. To determine if we are the primary beneficiary of a VIE, we evaluate whether we have (i) the power to direct the activities that most significantly impact the IO's economic performance and (ii) the obligation to absorb losses or the right to receive benefits of the IO that could potentially be significant to the IO. Our evaluation includes identification of significant activities and an assessment of the IO's ability to direct those activities. Activities that most significantly impact the IO's economic performance relate to sales and labor. Sales activities that significantly impact the IO's economic performance include determining what merchandise the IO will order and sell and the price of such merchandise, both of which the IO controls. The IO is also responsible for all of its own labor. Labor activities that significantly impact the IO's economic performance include hiring, training, supervising, directing, compensating (including wages, salaries and employee benefits) and terminating all of the employees of the IO, activities which the IO controls. Accordingly, the IO has the power to direct the activities that most significantly impact the IO's economic performance. Furthermore, the mutual termination rights associated with the Operator Agreement illustrate the lack of ultimate control over the IO. Therefore, we are not the primary beneficiary of these VIEs.
Recently Issued Accounting Pronouncements Not Yet Adopted	Accounting Standards Update ("ASU") No. 2024-03 — In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). ASU 2024-03 requires public entities to disclose, in the notes to financial statements, specified information about certain costs and expenses, including the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included in each expense caption presented on the face of the income statement, a qualitative description of the amounts remaining in these expense captions that are not separately disaggregated quantitatively, and the total amount of selling expenses and an entity's definition of selling expenses. ASU 2024-03, as clarified by ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. Further, the amendments in ASU 2024-03 should be applied either prospectively or retrospectively. We are currently evaluating the impact on our consolidated financial statements and disclosures. ASU No. 2025-06 — In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) ("ASU 2025-06"). ASU 2025-06 removes all references to prescriptive and sequential software development stages throughout Subtopic 350-40, and therefore requires an entity to start capitalizing software costs when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in ASU 2025-06 further specify and clarify disclosure requirements for property, plant and equipment and intangibles, as well as supersede the website development costs guidance and incorporate the recognition requirements for website-specific development costs. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within those annual reporting periods, with early adoption permitted. Further, the amendments in ASU 2025-06 should be applied using a transition approach that is prospective, modified based on the project status and whether software costs were capitalized before the adoption date, or retrospective. We are currently evaluating the impact on our consolidated financial statements and disclosures.
Income Tax	Our policy is to recognize interest and penalties associated with uncertain tax positions as part of the income tax provision in our condensed consolidated statements of operations and comprehensive income (loss) and include accrued interest and penalties with the related income tax liability on our condensed consolidated balance sheets. To date, we have not recognized any interest and penalties, nor have we accrued for or made payments for interest and penalties.

Commitments and Contingencies (Details)		1 Months Ended
Commitments and Contingencies (Details)	May 02, 2025 claims defendant	May 15, 2026 claims	Mar. 26, 2026 claims	Mar. 28, 2025 claims
2025 Class Action
Loss Contingencies [Line Items]
Number of pending claims				2
2025 Derivative Lawsuit
Loss Contingencies [Line Items]
Number of pending claims	2
Number of defendants specified \| defendant	1
Additional Stockholder Derivative Lawsuits
Loss Contingencies [Line Items]
Number of additional pending claims			2
2026 Derivative Lawsuit
Loss Contingencies [Line Items]
Number of new claims filed		2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482645/405-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.W.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479583/944-40-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Current assets:
Cash and cash equivalents	$ 74,199	$ 69,602
Independent operator receivables and current portion of independent operator notes, net of allowance $15,761 and $12,253	14,101	16,983
Other accounts receivable, net of allowance $5 and $8	2,414	3,685
Merchandise inventories	394,841	381,961
Prepaid expenses and other current assets	28,987	25,409
Total current assets	514,542	497,640
Independent operator notes and receivables, net of allowance $15,216 and $15,291	37,231	43,748
Property and equipment, net	773,386	742,961
Operating lease right-of-use assets	1,117,595	1,089,838
Intangible assets, net	71,621	78,375
Goodwill, net	475,835	633,835
Other assets	4,255	4,702
Total assets	2,994,465	3,091,099
Current liabilities:
Trade accounts payable	219,657	177,457
Accrued and other current liabilities	36,822	54,277
Accrued compensation	24,386	17,841
Current portion of long-term debt	15,000	15,000
Current lease liabilities	92,201	87,324
Income and other taxes payable	10,404	12,097
Total current liabilities	398,470	363,996
Long-term debt, net	490,602	477,905
Deferred income tax liabilities, net	32,461	33,183
Long-term lease liabilities	1,253,069	1,229,473
Other long-term liabilities	3,270	2,879
Total liabilities	2,177,872	2,107,436
Commitments and contingencies (Note 9)
Stockholders' equity:
Common stock, par value $0.001 per share, 500,000,000 shares authorized; 99,084,492 and 98,153,086 shares issued and outstanding, respectively	99	98
Series A preferred stock, par value $0.001 per share, 50,000,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	834,673	827,048
Retained earnings (deficit)	(18,179)	156,517
Total stockholders' equity	816,593	983,663
Total liabilities and stockholders' equity	$ 2,994,465	$ 3,091,099

Share-based Awards (Tables)

6 Months Ended

Jul. 04, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The grant date fair value of MSUs awarded during the first half of fiscal 2026 was estimated using the Monte Carlo valuation model with the following weighted-average assumptions:


	26 Weeks Ended
	July 4, 2026

Expected volatility	56.1		%
Risk-free interest rate	3.7		%
Dividend yield	—		%
Expected term (in years)	2.78
Grant date fair value (per share unit)	$	4.56

Schedule of Stock Option Activity

The following table summarizes stock option activity under all equity incentive plans during the first half of fiscal 2026 (amounts in thousands, except option, per option and term data):



	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Time-Based Stock Options
Options outstanding as of January 3, 2026	1,716,759	$	14.79
Granted	—	—
Exercised	(12,276)	8.36
Forfeited	(419,960)	15.78
Options outstanding as of July 4, 2026	1,284,523	$	14.53	6.2	$	36
Options vested and expected to vest as of July 4, 2026	1,284,523	$	14.53	6.2	$	36
Options exercisable as of July 4, 2026	723,923	$	16.39	4.2	$	36
Market-Based and Performance-Based Stock Options
Options outstanding as of January 3, 2026	240,396	$	11.86
Granted	—	—
Exercised	—	—
Forfeited	(34,105)	11.64
Options outstanding as of July 4, 2026	206,291	$	11.90	7.3	$	46
Options vested and expected to vest as of July 4, 2026	206,291	$	11.90	7.3	$	46
Options exercisable as of July 4, 2026	39,624	$	12.03	1.6	$	46

Schedule of RSU, MSU and PSU Activity

The following table summarizes RSU activity under all equity incentive plans during the first half of fiscal 2026:


	Number of Shares	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term
Unvested balance as of January 3, 2026	1,521,255	$	15.20
Granted	2,365,039	6.43
Vested	(751,202)	15.97
Forfeited	(334,085)	9.44
Unvested balance as of July 4, 2026	2,801,007	$	8.28	2.1

The following table summarizes MSU and performance-based restricted stock unit ("PSU") activity under the Grocery Outlet Holding Corp. 2019 Incentive Plan during the first half of fiscal 2026:


	Number of Shares	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term
Unvested balance as of January 3, 2026	151,400	$	27.29
Granted	1,499,213	4.56
Adjustment for expected performance achievement (1)	111	—
Vested	(151,135)	27.29
Forfeited	(184,505)	4.23
Unvested balance as of July 4, 2026 (2)	1,315,084	$	4.62	1.6

_______________________

(1)Represents the year-to-date adjustment to previously granted awards based on performance expectations as of July 4, 2026.

Schedule of Share-based Compensation Expense (Benefit)

Share-based compensation expense consisted of the following (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Time-based and market-based stock options	$	358	$	581	$	1,134	$	792

RSUs	2,870		3,214		5,726		6,137
MSUs and PSUs	540		(1,835)		663		489

Share-based compensation expense	$	3,768	$	1,960	$	7,523	$	7,418

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025
Cash flows from operating activities:
Net loss	$ (174,696,000)	$ (18,356,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation of property and equipment	50,966,000	50,832,000
Amortization of intangible and other assets	12,305,000	10,399,000
Amortization of debt issuance costs and debt discounts	455,000	455,000
Non-cash rent	(164,000)	5,021,000
Impairment of long-lived assets	1,413,000	10,776,000
Goodwill impairment	158,000,000	0
Share-based compensation	7,523,000	7,418,000
Provision for independent operator and other accounts receivable reserves	19,480,000	6,578,000
Deferred income taxes	(722,000)	(4,693,000)
Other	103,000	1,162,000
Changes in operating assets and liabilities:
Independent operator and other accounts receivable	(5,322,000)	(4,561,000)
Merchandise inventories	(12,880,000)	(4,073,000)
Prepaid expenses and other assets	(3,724,000)	(330,000)
Income and other taxes payable	(1,693,000)	(1,403,000)
Trade accounts payable	41,126,000	35,782,000
Accrued and other liabilities	(3,796,000)	20,484,000
Accrued compensation	6,545,000	6,068,000
Operating lease liabilities	789,000	11,004,000
Net cash provided by operating activities	95,708,000	132,563,000
Cash flows from investing activities:
Advances to independent operators	(5,142,000)	(7,548,000)
Repayments of advances from independent operators	1,656,000	1,862,000
Purchases of property and equipment	(94,507,000)	(119,669,000)
Proceeds from sales of assets	885,000	0
Investments in intangible assets and licenses	(5,969,000)	(10,801,000)
Net cash used in investing activities	(103,077,000)	(136,156,000)
Cash flows from financing activities:
Proceeds from exercise of stock options	103,000	395,000
Proceeds from revolving credit facility	20,000,000	20,000,000
Principal payments on revolving credit facility	0	(20,000,000)
Principal payments on senior term loan due 2028	(7,500,000)	(3,750,000)
Principal payments on finance leases	(637,000)	(690,000)
Net cash provided by (used in) financing activities	11,966,000	(4,045,000)
Net increase (decrease) in cash and cash equivalents	4,597,000	(7,638,000)
Cash and cash equivalents at beginning of period	69,602,000	62,828,000
Cash and cash equivalents at end of period	$ 74,199,000	$ 55,190,000

Earnings (Net Loss) Per Share (Tables)

6 Months Ended

Jul. 04, 2026

Earnings Per Share [Abstract]

Schedule of Earnings (Net Loss) Per Share, Basic and Diluted

The following table sets forth the calculation of basic and diluted earnings (net loss) per share (amounts in thousands, except per share data):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Numerator
Net income (loss) and comprehensive income (loss)	$	5,626	$	4,961	$	(174,696)	$	(18,356)
Denominator
Weighted-average shares outstanding – basic	99,014		98,081		98,720		97,801
Effect of dilutive options (1)	3		61		—		—
Effect of dilutive RSUs and PSUs (1)	756		318		—		—
Weighted-average shares outstanding – diluted (2)	99,773		98,460		98,720		97,801
Earnings (net loss) per share:
Basic	$	0.06	$	0.05	$	(1.77)	$	(0.19)
Diluted	$	0.06	$	0.05	$	(1.77)	$	(0.19)

_______________________

(2)For the first half of fiscal 2026 and the first half of fiscal 2025, there is no difference in the weighted-average shares outstanding used in the above calculations due to the Company's net loss.

Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings (Net Loss)


	13 Weeks Ended		26 Weeks Ended
	July 4, 2026	June 28, 2025	July 4, 2026	June 28, 2025
Stock options	1,675	1,745	1,716	1,478
RSUs	651	369	1,425	870
Total	2,326	2,114	3,141	2,348

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jul. 04, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we may be a party to legal proceedings that arise in the ordinary course of business, some of which may be covered by insurance. We establish an accrual for legal proceedings if and when those matters reach a stage where they present loss contingencies that are both probable and reasonably estimable. We monitor those matters for developments that would affect the likelihood of a loss and the accrued amount, if any, thereof, and adjust the amount as appropriate. If the loss contingency at issue is not both probable and reasonably estimable, we do not establish an accrual, but will continue to monitor the matter for developments that could make the loss contingency both probable and reasonably estimable. If there is at least a reasonable possibility that a material loss will occur, we will provide disclosure regarding the contingency. Assessments of legal proceedings can involve a series of complex judgments about future events and can rely heavily on many different estimates and assumptions. The categories of legal proceedings in which we are involved may include multiple lawsuits and claims, may be spread across multiple jurisdictions and courts which may handle the lawsuits and claims differently, may involve numerous and different types of plaintiffs, and raise claims and damages based on specific allegations that may not apply to other matters. These and other factors contribute to the complexity of these legal proceedings and make it difficult for us to predict outcomes and make reasonable estimates of any resulting losses or ranges of possible losses, which is further complicated by the fact that a resolution of one or more matters may impact the resolution of other matters in terms of timing, amount of liability, or both. Unfavorable rulings, developments, or settlements could result in charges substantially in excess of amounts currently accrued, including for matters for which no accruals are currently recorded because losses are not currently probable or reasonably estimable. Based on our assessment of the facts and circumstances, we do not currently believe our legal proceedings, individually or in the aggregate, will have a material adverse effect on our results of operations, financial condition or cash flows. However, actual outcomes may differ from those expected and the matters disclosed below could have a material effect on our financial position, results of operations or cash flows in a future period. On January 30 and March 28, 2025, respectively, two federal securities class action lawsuits were filed in the U.S. District Court in the Northern District of California against Grocery Outlet Holding Corp. and certain of its former officers purportedly on behalf of purchasers of our common stock, which were later consolidated into one lawsuit (the "2025 Class Action"). The 2025 Class Action alleges that the defendants violated federal securities laws by making materially false and misleading statements and/or failing to disclose material adverse facts regarding our transition to new and upgraded internal systems. The 2025 Class Action seeks remedies under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including an undisclosed amount of monetary damages, interest, fees and other costs. The lead plaintiff filed an amended complaint on August 19, 2025, and the Company filed its motion to dismiss on October 21, 2025. Briefing on the Company’s motion to dismiss was completed on January 30, 2026. The hearing on the Company’s motion to dismiss scheduled for March 19, 2026 was vacated and the matter is now submitted on the briefs. On April 28 and May 2, 2025, respectively, two federal stockholder derivative lawsuits were filed in the U.S. District Court in the Northern District of California against certain of the Company’s current and former directors and officers purportedly on behalf of the Company, which were later consolidated into one lawsuit (the "2025 Derivative Lawsuit"). The 2025 Derivative Lawsuit alleges claims for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets and for violations of Sections 10(b), 14(a), and 20(a) of the Exchange Act, based on similar allegations to those at issue in the 2025 Class Action. The 2025 Derivative Lawsuit seeks, among other relief, undisclosed damages, restitution, fees and other costs, and the institution of corporate governance reforms. On July 29, 2025, the court stayed the 2025 Derivative Lawsuit pending resolution of the Company's motion to dismiss the 2025 Class Action. On March 20 and March 26, 2026, two additional stockholder derivative lawsuits were filed in the Delaware Court of Chancery and U.S. District Court for the District of Delaware, respectively, against certain of the Company’s current and former directors and officers purportedly on behalf of the Company, asserting claims for breach of fiduciary duty and related claims based on substantially the same allegations as the 2025 Class Action and the 2025 Derivative Lawsuit. On April 17, 2026, the U.S. District Court action was dismissed without prejudice. On June 6, 2026, the court stayed the Delaware Court of Chancery action pending resolution of the Company's motion to dismiss the 2025 Class Action. On March 16, 2026, a separate federal securities class action lawsuit was filed in the U.S. District Court in the Northern District of California against the Company and certain of its current and former officers purportedly on behalf of purchasers of our common stock (the "2026 Class Action"). The 2026 Class Action alleges that the defendants violated federal securities laws by making materially false and misleading statements and/or failing to disclose material adverse facts regarding the Company’s growth strategy, financial performance, and the effectiveness of its restructuring plan, and seeks remedies under the Exchange Act, including an undisclosed amount of monetary damages, interest, fees and other costs. On April 13 and May 15, 2026, respectively, two federal stockholder derivative lawsuits were filed in the U.S. District Court in the Northern District of California against certain of the Company’s current and former directors and officers purportedly on behalf of the Company, which were later consolidated into one lawsuit (the "2026 Derivative Lawsuit"). The 2026 Derivative Lawsuit asserts claims for breach of fiduciary duty and related claims based on similar allegations to those at issue in the 2026 Class Action. On June 26, 2026, the court stayed the 2026 Derivative Lawsuit pending resolution of any motion for summary judgment in the 2026 Class Action. We intend to defend the above securities and derivative lawsuits vigorously. Due to the stages of these proceedings and the lack of specific damages requests, we have currently determined the above lawsuits do not present loss contingencies that are both probable and reasonably estimable and, further, we are unable to estimate a range of reasonably possible losses for such lawsuits.

Organization and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 04, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Carrying Amount and Estimated Fair Values of Financial Liabilities

The following table sets forth by level within the fair value hierarchy the carrying amounts and estimated fair values of our significant financial liabilities that are not recorded at fair value on the condensed consolidated balance sheets (amounts in thousands):


	July 4, 2026				January 3, 2026
	Carrying Amount (1)		Estimated Fair Value (2)		Carrying Amount (1)		Estimated Fair Value (2)
Financial Liabilities:
Senior term loan (Level 2)	$	265,602	$	266,250	$	272,905	$	273,750
Revolving credit facility (Level 2)	$	240,000	$	240,000	$	220,000	$	220,000

_______________________

(1)The carrying amounts of the senior term loan as of July 4, 2026 and January 3, 2026 were net of debt issuance costs of $0.6 million and $0.8 million, respectively.

Schedule of Sales Revenue by Product

The following table presents net sales revenue by type of product for the periods presented (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Perishable (1)	$	455,372	$	451,033	$	896,359	$	881,778
Non-perishable (2)	737,392		728,739		1,462,757		1,423,561
Total net sales	$	1,192,764	$	1,179,772	$	2,359,116	$	2,305,339

_______________________

(1) Perishable departments include dairy and deli; produce and floral; and fresh meat and seafood.

(2) Non-perishable departments include non-perishable grocery; frozen foods; beer and wine; general merchandise; and health and beauty care.

Cover - shares	6 Months Ended
Cover - shares	Jul. 04, 2026	Aug. 06, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 04, 2026
Document Transition Report	false
Entity File Number	001-38950
Entity Registrant Name	Grocery Outlet Holding Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1874201
Entity Address, Address Line One	5650 Hollis Street
Entity Address, City or Town	Emeryville
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94608
City Area Code	510
Local Phone Number	845-1999
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	GO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		99,084,492
Entity Central Index Key	0001771515
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Amendment Flag	false

Income Taxes - Narrative (Details) - USD ($)	Jul. 04, 2026	Jan. 03, 2026
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0	$ 0

Earnings (Net Loss) Per Share - Schedule of Earnings (Net Loss) Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 04, 2026	Apr. 04, 2026	Jun. 28, 2025	Mar. 29, 2025	Jul. 04, 2026	Jun. 28, 2025
Numerator
Net income (loss)	$ 5,626	$ (180,322)	$ 4,961	$ (23,317)	$ (174,696)	$ (18,356)
Comprehensive income (loss)	$ 5,626	$ (180,322)	$ 4,961	$ (23,317)	$ (174,696)	$ (18,356)
Denominator
Weighted-average shares outstanding – basic (in shares)	99,014		98,081		98,720	97,801
Weighted-average shares outstanding – diluted (in shares)	99,773		98,460		98,720	97,801
Earnings (net loss) per share:
Basic (in usd per share)	$ 0.06		$ 0.05		$ (1.77)	$ (0.19)
Diluted (in usd per share)	$ 0.06		$ 0.05		$ (1.77)	$ (0.19)
Stock options
Denominator
Effect of dilutive awards (in shares)	3		61		0	0
RSUs And PSUs
Denominator
Effect of dilutive awards (in shares)	756		318		0	0

Independent Operator Notes and Independent Operator Receivables (Tables)

6 Months Ended

Jul. 04, 2026

Receivables [Abstract]

Schedule of Amounts Due from Independent Operators

Amounts due from IOs and the related allowances as of July 4, 2026 and January 3, 2026 consisted of the following (amounts in thousands):


			Allowance				Net
	Gross		Current Portion		Long-term Portion		Total		Current Portion		Long-term Portion
July 4, 2026
Independent operator notes	$	51,016	$	(457)	$	(13,736)	$	36,823	$	2,236	$	34,587
Independent operator receivables	31,293		(15,304)		(1,480)		14,509		11,865		2,644
Total	$	82,309	$	(15,761)	$	(15,216)	$	51,332	$	14,101	$	37,231


			Allowance				Net
	Gross		Current Portion		Long-term Portion		Total		Current Portion		Long-term Portion
January 3, 2026
Independent operator notes	$	57,532	$	(454)	$	(13,864)	$	43,214	$	2,301	$	40,913
Independent operator receivables	30,743		(11,799)		(1,427)		17,517		14,682		2,835
Total	$	88,275	$	(12,253)	$	(15,291)	$	60,731	$	16,983	$	43,748

Schedule of Allowance for Credit Loss Activity

A summary of activity in the IO notes and IO receivables allowance was as follows (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Beginning balance	$	35,395	$	21,611	$	27,544	$	18,479
Provision for IO notes and IO receivables reserves (1)	1,518		3,291		19,483		6,574

Write-off of uncollectible IO notes and IO receivables (2)	(5,936)		(1,724)		(16,050)		(1,875)
Ending balance	$	30,977	$	23,178	$	30,977	$	23,178

_______________________

Schedule of Independent Operator Notes by Credit Quality Indicators and Year of Origination

The following tables present the outstanding gross balance of IO notes by fiscal year of origination and credit quality indicator as of July 4, 2026 and January 3, 2026 (amounts in thousands):


	Fiscal Year of Origination
Credit Quality Indicator	2026 (YTD)		2025		2024		2023		2022		Prior		Total
July 4, 2026
TCAP	$	2,035	$	3,708	$	4,082	$	2,078	$	2,604	$	2,896	$	17,403
Non-TCAP	4,933		5,972		4,381		2,111		2,751		3,980		24,128
New store	2,984		6,501		—		—		—		—		9,485
Total	$	9,952	$	16,181	$	8,463	$	4,189	$	5,355	$	6,876	$	51,016


	Fiscal Year of Origination
Credit Quality Indicator	2025		2024		2023		2022		2021		Prior		Total
January 3, 2026
TCAP	$	4,826	$	5,982	$	3,972	$	3,907	$	1,589	$	2,489	$	22,765
Non-TCAP	7,253		4,745		2,762		3,680		2,285		2,689		23,414
New store	9,808		1,545		—		—		—		—		11,353
Total	$	21,887	$	12,272	$	6,734	$	7,587	$	3,874	$	5,178	$	57,532

Independent Operator Notes and Independent Operator Receivables - Credit Quality Indicators (Current Year) (Details) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Financing Receivable, Credit Quality Indicator [Line Items]
2026 (YTD)	$ 9,952	$ 21,887
2025	16,181	12,272
2024	8,463	6,734
2023	4,189	7,587
2022	5,355	3,874
Prior	6,876	5,178
Total	51,016	57,532
TCAP
Financing Receivable, Credit Quality Indicator [Line Items]
2026 (YTD)	2,035	4,826
2025	3,708	5,982
2024	4,082	3,972
2023	2,078	3,907
2022	2,604	1,589
Prior	2,896	2,489
Total	17,403	22,765
Non-TCAP
Financing Receivable, Credit Quality Indicator [Line Items]
2026 (YTD)	4,933	7,253
2025	5,972	4,745
2024	4,381	2,762
2023	2,111	3,680
2022	2,751	2,285
Prior	3,980	2,689
Total	24,128	23,414
New store
Financing Receivable, Credit Quality Indicator [Line Items]
2026 (YTD)	2,984	9,808
2025	6,501	1,545
2024	0	0
2023	0	0
2022	0	0
Prior	0	0
Total	$ 9,485	$ 11,353

Independent Operator Notes and Independent Operator Receivables - Schedule of Allowance for Credit Loss Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Accounts And Financing Receivable, Allowance For Credit Loss [Roll Forward]
Beginning balance	$ 35,395	$ 21,611	$ 27,544	$ 18,479
Provision for IO notes and IO receivables reserves	1,518	3,291	19,483	6,574
Write-off of uncollectible IO notes and IO receivables	(5,936)	(1,724)	(16,050)	(1,875)
Ending balance	30,977	23,178	30,977	23,178
Write-off of uncollectible IO notes and IO receivables	5,936	$ 1,724	16,050	$ 1,875
Optimization Plan
Accounts And Financing Receivable, Allowance For Credit Loss [Roll Forward]
Provision for IO notes and IO receivables reserves	(100)		15,400
Write-off of uncollectible IO notes and IO receivables	(3,600)		(11,700)
Write-off of uncollectible IO notes and IO receivables	$ 3,600		$ 11,700

Long-term Debt - Debt Covenants Narrative (Details) - Revolving credit facility - Credit Agreement	6 Months Ended
	Jul. 04, 2026
Debt Instrument [Line Items]
Debt instrument, interest coverage ratio	1.75
Minimum
Debt Instrument [Line Items]
Debt instrument, leverage ratio	3.25

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Long-term Debt

6 Months Ended

Jul. 04, 2026

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt consisted of the following (amounts in thousands):


	July 4, 2026		January 3, 2026
2023 Credit Agreement:
Senior term loan due 2028	$	266,250	$	273,750
Revolving credit facility	240,000		220,000

Long-term debt, gross	506,250		493,750
Less: Unamortized debt issuance costs	(648)		(845)
Long-term debt, less unamortized debt issuance costs	505,602		492,905
Less: Current portion	(15,000)		(15,000)
Long-term debt, net	$	490,602	$	477,905

2023 Credit Agreement

We are party to a credit agreement, dated February 21, 2023 (the "2023 Credit Agreement"), with Bank of America, N.A., as administrative agent and collateral agent, and a syndicate of lenders that consists of (i) a senior secured term loan facility (the "senior term loan") and (ii) a senior secured revolving credit facility (the "revolving credit facility" and, together with the senior term loan, the "credit facilities") in an aggregate principal amount of $400.0 million. The revolving credit facility includes sub-commitments for $50.0 million letters of credit and $25.0 million of swingline loans.

As of July 4, 2026, interest on borrowings under the credit facilities was based on one-month Term SOFR with an applicable margin of 2.25%. Borrowings under the 2023 Credit Agreement bear interest at a rate equal to, at our option, either (a) the base rate, which is defined as a fluctuating rate per annum equal to the greatest of (i) the federal funds rate then in effect, plus 0.50%, (ii) the prime rate then in effect and (iii) a specified Term SOFR (as defined in the 2023 Credit Agreement) rate plus 1.00%, subject to the interest rate floors set forth therein, plus an applicable margin ranging from 0.75% to 1.75% based on our Total Net Leverage Ratio (as defined in the 2023 Credit Agreement); and (b) an adjusted Term SOFR rate determined on the basis of a one, three or six month interest period, plus 0.10%, subject to the interest rate floors set forth therein, plus an applicable margin ranging from 1.75% to 2.75% based on our Total Net Leverage Ratio.

The 2023 Credit Agreement permits us to add incremental term loan facilities, increase any existing term loan facility, increase revolving commitments, and/or add incremental replacement revolving credit facility tranches. The aggregate principal amount of such incremental facilities are limited to (a) an amount not in excess of the sum of the greater of $200.0 million and 100% of Consolidated EBITDA (as defined in the 2023 Credit Agreement), subject to certain limitations, plus (b) voluntary prepayments of any term loan facility, voluntary permanent reductions of the commitments for the revolving credit facility and voluntary prepayments of indebtedness secured by liens on the collateral securing the credit facilities, subject to certain exceptions, plus (c) an amount such that (assuming that the full amount of any such incremental revolving increase and/or incremental replacement revolving credit facility was drawn, and after giving effect to any appropriate pro forma adjustment events) we would be in compliance, on a pro forma basis (but excluding the cash proceeds of such incurrence), with a Total Net Leverage Ratio of 3.00 to 1.00.

Our obligations under the 2023 Credit Agreement are unconditionally guaranteed by Grocery Outlet Holding Corp.'s direct and indirect wholly owned restricted subsidiaries, subject to certain exceptions. All obligations under the 2023 Credit Agreement, and the guarantee of such obligations, are secured, subject to permitted liens and other exceptions, by substantially all of the Company’s assets and those of each subsidiary guarantor.

The 2023 Credit Agreement requires us to make scheduled quarterly amortization payments on the senior term loan, which were $1.875 million from June 2023 through March 2025, and are $3.75 million from June 2025 through December 2027, with the remaining balance due on February 21, 2028. We may voluntarily prepay the credit facilities, in whole or in part, at any time without premium or penalty, subject to reimbursement of the lenders’ breakage and redeployment costs in applicable cases.

The senior term loan and the revolving credit facility under the 2023 Credit Agreement mature on February 21, 2028.

Senior Term Loan due 2028

The senior term loan under the 2023 Credit Agreement had an interest rate of 5.99% as of July 4, 2026.

Revolving Credit Facility

The aggregate outstanding principal balance under the revolving credit facility was $240.0 million and $220.0 million as of July 4, 2026 and January 3, 2026, respectively. As of July 4, 2026, we had $6.2 million of outstanding letters of credit and $153.8 million of remaining borrowing capacity available under the revolving credit facility. Borrowings under the revolving credit facility had an interest rate of 5.99% as of July 4, 2026.

We are required to pay a quarterly commitment fee ranging from 0.15% to 0.30% on the daily unused amount of the commitment under the revolving credit facility based upon our Total Net Leverage Ratio. The unused commitment fee rate was 0.20% as of July 4, 2026. We are also required to pay fronting fees and other customary fees for letters of credit issued under the revolving credit facility.

Debt Covenants

The 2023 Credit Agreement contains certain customary representations and warranties, subject to limitations and exceptions, and affirmative and customary covenants. The 2023 Credit Agreement contains certain covenants that, among other things, limit our ability and the ability of our restricted subsidiaries to: pay dividends or distributions, repurchase equity, prepay junior debt and make certain investments; incur additional debt or issue certain disqualified stock and preferred stock; incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its assets; enter into transactions with affiliates; and allow to exist certain restrictions on the ability of our subsidiaries to pay dividends or make other payments to the borrower. The 2023 Credit Agreement also contains financial performance covenants requiring us to satisfy a maximum total net leverage ratio test and a minimum interest coverage ratio test as of the last day of each fiscal quarter. The maximum total net leverage ratio test requires us to be in compliance with a Total Net Leverage Ratio no greater than 3.25 to 1.00 as of the last day of each test period ending after December 31, 2025, subject to certain adjustments set forth in the 2023 Credit Agreement. The minimum interest coverage ratio test requires us to be in compliance with a Consolidated Interest Coverage Ratio (as defined in the 2023 Credit Agreement) of no less than 1.75 to 1.00 as of the last day of each test period.

As of July 4, 2026, we were in compliance with all applicable financial covenant requirements for the 2023 Credit Agreement.

Schedule of Principal Maturities

Principal maturities of debt as of July 4, 2026 are as follows (amounts in thousands):


Remainder of fiscal 2026	$	7,500
Fiscal 2027	15,000
Fiscal 2028	483,750
Fiscal 2029 and thereafter	—


Total	$	506,250

Interest Expense, Net

Interest expense, net, consisted of the following (amounts in thousands):


	13 Weeks Ended				26 Weeks Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Interest on loans	$	7,745	$	8,103	$	15,416	$	16,100
Amortization of debt issuance costs and debt discounts	227		227		455		455
Interest on finance leases	49		55		92		114

Interest income	(1,079)		(1,232)		(2,254)		(2,522)
Capitalized interest	(370)		(609)		(768)		(1,083)
Interest expense, net	$	6,572	$	6,544	$	12,941	$	13,064

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jul. 04, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Summary of Significant Accounting Policies - Schedule of Carrying Amount and Estimated Fair Values of Financial Liabilities (Details) - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Senior term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt issuance costs, net	$ 600	$ 800
Level 2 \| Carrying Amount \| Revolving credit facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities	240,000	220,000
Level 2 \| Carrying Amount \| Senior term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities	265,602	272,905
Level 2 \| Estimated Fair Value \| Revolving credit facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities	240,000	220,000
Level 2 \| Estimated Fair Value \| Senior term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities	$ 266,250	$ 273,750

- Definition

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Restructuring

6 Months Ended

Jul. 04, 2026

Restructuring and Related Activities [Abstract]

Restructuring

Optimization Plan

We initiated a business optimization plan during the first quarter of fiscal 2026, intended to strengthen long-term profitability and cash flow generation, improve operational execution, optimize our existing store footprint and align with our disciplined new store growth strategy (the "Optimization Plan"). The Optimization Plan provides for the closure of 36 financially underperforming stores ("Closure Stores"), including the termination, sublease or assignment of the applicable store leases; the termination, sublease or assignment of a lease for a distribution center facility that we are no longer utilizing (together with the store leases, the "Lease Exits"); and the termination of operator agreements with IOs for the Closure Stores as well as certain other store locations (the "Operator Agreement Terminations").

We estimate that we will incur between $15 million and $24 million in net total restructuring charges in fiscal 2026 and fiscal 2027 related to the Optimization Plan, and we expect these actions to be substantially completed by the first quarter of fiscal 2027. Estimated net restructuring charges incurred or expected to be incurred include bad debt expense and cash expenses for the Operator Agreement Terminations, as well as costs associated with the Lease Exits. We have negotiated, or intend to negotiate, a lease termination, sublease, or assignment with the landlords of the Lease Exits. We expect to incur net restructuring charges for the Lease Exits which primarily include lease termination fees, costs to prepare the premises for surrender to the landlords, sublessee or assignee, and idle property costs, partially offset by the net non-cash write-off of the right-of-use assets and lease liabilities associated with these leases.

During the first half of fiscal 2026, we closed all 36 Closure Stores, and we substantially completed the Operator Agreement Terminations. We also increased the provision for IO notes and IO receivables reserves and wrote off uncollectible IO notes and IO receivables associated with these store locations, as further discussed in Note 2. In addition, we negotiated lease terminations with the landlords for certain of the Lease Exits and wrote-off the right-of-use assets and lease liabilities associated with these leases. We also entered into a sublease for the distribution facility we are no longer using. For the leases associated with the Lease Exits, we incurred costs to prepare the premises for surrender to the landlords and idle property costs, net of proceeds received from sales of assets.


	13 Weeks Ended		26 Weeks Ended
	July 4, 2026		July 4, 2026
Cash restructuring charges:
Costs associated with the Lease Exits (1)	$	13,066	$	13,856
Costs associated with the Operator Agreement Terminations	1,133		2,742
Legal, professional and other costs	589		845
Total cash restructuring charges	14,788		17,443
Net non-cash restructuring charges (credits):

Non-cash bad debt expense (credit) associated with the Operator Agreement Terminations	(97)		15,439


Net write-off of right-of-use assets and lease liabilities	(8,607)		(8,607)
Other net non-cash restructuring charges (2)	(656)		(656)
Total net non-cash restructuring charges (credits)	(9,360)		$	6,176
Total restructuring charges, net	$	5,428	$	23,619

_______________________

(2)Other net non-cash restructuring charges include credits related to non-cash rent associated with the Lease Exits and loss on disposal of long-lived assets.

The following table summarizes the restructuring liability activity for the Optimization Plan during the first half of fiscal 2026 (amounts in thousands):


	Lease Termination Costs		Operator Agreement Termination Costs		Legal, Professional and Other Costs		Total
Balance at January 3, 2026	$	—	$	—	$	—	$	—
Cash restructuring charges	13,856		2,742		845		17,443
Cash payments	(12,632)		(2,742)		(292)		(15,666)
Balance at July 4, 2026	$	1,224	$	—	$	553	$	1,777

Restructuring Plan

We initiated a restructuring plan during the fourth quarter of fiscal 2024, intended to improve our long-term profitability, cash flow generation and return on invested capital, optimize the footprint of new store growth, and lower our cost base (the "Restructuring Plan"). The actions under the Restructuring Plan were substantially completed in the second quarter of fiscal 2025. The Restructuring Plan included (i) the termination of a total of 28 leases for unopened stores in suboptimal locations and the discontinued development of certain future store sites where we had incurred initial costs, but leases had not yet been signed, (ii) the cancellation of certain capital-intensive warehouse projects and (iii) a reduction in headcount in building a more scalable cost structure.


	13 Weeks Ended		26 Weeks Ended
	June 28, 2025		June 28, 2025
Cash restructuring charges:
Lease termination costs	$	5,019	$	34,112
Employee severance and benefit costs	—		1,532
Legal, professional and other costs	—		1,522
Total cash restructuring charges	5,019		37,166

Non-cash impairment and disposal of long-lived assets	6,138		7,866

Total restructuring charges	$	11,157	$	45,032

Long-term Debt - Senior Term Loan due 2028 Narrative (Details)	Jul. 04, 2026
Senior term loan due 2028 \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate (as a percent)	5.99%

- Definition

Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Related Party Transactions	6 Months Ended
Related Party Transactions	Jul. 04, 2026
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Related Party Leases As of July 4, 2026, January 3, 2026 and June 28, 2025, we leased 14 store locations and one warehouse location from entities in which Eric Lindberg, Jr., Chairman of the Board and former Chief Executive Officer (who also served as Interim President and Chief Executive Officer for a portion of fiscal 2024 and the first quarter of fiscal 2025), his family, or an executive officer of the Company, had a direct or indirect financial interest. As of July 4, 2026, the right-of-use assets and lease liabilities related to these properties were $43.8 million and $49.0 million, respectively. As of January 3, 2026, the right-of-use assets and lease liabilities related to these properties were $44.7 million and $49.8 million, respectively. These related parties received aggregate lease payments from us of $1.9 million and $1.9 million for the second quarter of fiscal 2026 and fiscal 2025, respectively, and $3.8 million and $3.8 million for the first half of fiscal 2026 and fiscal 2025, respectively. Independent Operator Notes and Independent Operator Receivables We offer interest-bearing notes to IOs and the gross amount of IO operating notes and IO receivables due was $82.3 million and $88.3 million as of July 4, 2026 and January 3, 2026, respectively. See Note 2 for additional information.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

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-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
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-SubTopic 220
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-Section S99
-Paragraph 1
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-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

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-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Independent Operator Notes and Independent Operator Receivables - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025	Jan. 03, 2026
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest receivable	$ 3,300,000		$ 3,300,000		$ 3,900,000
Independent operator notes, nonaccrual	0		0		0
Independent operator notes	36,823,000		36,823,000		$ 43,214,000
Provision for IO notes and IO receivables reserves	1,518,000	$ 3,291,000	19,483,000	$ 6,574,000
Optimization Plan
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for IO notes and IO receivables reserves	$ (100,000)		$ 15,400,000
TCAP
Financing Receivable, Allowance for Credit Loss [Line Items]
Independent operator notes, outstanding percentage (as a percent)	44.70%		44.70%		50.60%
Independent operator notes, transferred to (from) TCAP	$ 1,100,000		$ 3,300,000
Non-TCAP
Financing Receivable, Allowance for Credit Loss [Line Items]
Independent operator notes, transferred to (from) TCAP	(100,000)		(300,000)
Financial Asset, Past Due
Financing Receivable, Allowance for Credit Loss [Line Items]
Independent operator notes	$ 0		$ 0		$ 0
Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Independent operator notes, stated interest rate (as a percent)	4.00%		4.00%
Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Independent operator notes, stated interest rate (as a percent)	9.95%		9.95%
Weighted Average \| TCAP
Financing Receivable, Allowance for Credit Loss [Line Items]
Independent operator notes, weighted average interest rate (as a percent)	4.00%		4.00%		9.95%

Restructuring - Schedule of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 5,428	$ 11,157	$ 23,619	$ 45,032
Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	5,428		23,619
Cash restructuring charges:
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		5,019		37,166
Cash restructuring charges: \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	14,788		17,443
Costs associated with the Lease Exits
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		5,019		34,112
Costs associated with the Lease Exits \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	13,066		13,856
Costs associated with the Operator Agreement Terminations \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	1,133		2,742
Legal, professional and other costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges		$ 0		$ 1,522
Legal, professional and other costs \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	589		845
Net non-cash restructuring charges (credits): \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(9,360)		6,176
Non-cash bad debt expense (credit) associated with the Operator Agreement Terminations \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(97)		15,439
Net write-off of right-of-use assets and lease liabilities \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	(8,607)		(8,607)
Other net non-cash restructuring charges \| Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ (656)		$ (656)

Restructuring - Schedule of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Restructuring Reserve [Roll Forward]
Restructuring charges, net	$ 5,428	$ 11,157	$ 23,619	$ 45,032
Optimization Plan
Restructuring Reserve [Roll Forward]
Restructuring charges, net	5,428		23,619
Cash restructuring charges:
Restructuring Reserve [Roll Forward]
Restructuring charges, net		5,019		37,166
Cash restructuring charges: \| Optimization Plan
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring charges, net	14,788		17,443
Cash payments			(15,666)
Ending balance	1,777		1,777
Lease termination costs
Restructuring Reserve [Roll Forward]
Restructuring charges, net		5,019		34,112
Lease termination costs \| Optimization Plan
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring charges, net	13,066		13,856
Cash payments			(12,632)
Ending balance	1,224		1,224
Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Restructuring charges, net		0		1,532
Costs associated with the Operator Agreement Terminations \| Optimization Plan
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring charges, net	1,133		2,742
Cash payments			(2,742)
Ending balance	0		0
Legal, professional and other costs
Restructuring Reserve [Roll Forward]
Restructuring charges, net		0		1,522
Legal, professional and other costs \| Optimization Plan
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring charges, net	589		845
Cash payments			(292)
Ending balance	$ 553		$ 553
Impairment and disposal of long-lived assets
Restructuring Reserve [Roll Forward]
Restructuring charges, net		$ 6,138		$ 7,866

Goodwill - Schedule of Changes in the Net Goodwill (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jul. 04, 2026	Apr. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Goodwill [Roll Forward]
Beginning balance, Gross Carrying Amount		$ 782,835,000		$ 782,835,000
Beginning balance, Accumulated Impairment		(149,000,000)		(149,000,000)
Beginning balance, Net Carrying Amount		633,835,000		633,835,000
Impairment loss	$ 0	$ (158,000,000.0)	$ 0	(158,000,000)	$ 0
Ending balance, Gross Carrying Amount	782,835,000			782,835,000
Ending balance, Accumulated Impairment	(307,000,000)			(307,000,000)
Ending balance, Net Carrying Amount	$ 475,835,000			$ 475,835,000

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Section S45
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+ Details

- Definition

+ References + Details

Share-based Awards - Schedule of Fair Value Assumptions (Details) - MSUs	6 Months Ended
	Jul. 04, 2026 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	56.10%
Risk-free interest rate	3.70%
Dividend yield	0.00%
Expected term (in years)	2 years 9 months 10 days
Grant date fair value (per share unit)	$ 4.56

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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