Ark Restaurants (ARKR) 10-Q13 Feb 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Dec. 30, 2023	Feb. 09, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 30, 2023
Document Transition Report	false
Entity File Number	1-09453
Entity Registrant Name	ARK RESTAURANTS CORP.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-3156768
Entity Address, Address Line One	85 Fifth Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	212
Local Phone Number	206-8800
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	ARKR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,604,157
Amendment Flag	false
Entity Central Index Key	0000779544
Current Fiscal Year End Date	--09-28
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents (includes $419 at December 30, 2023 and $564 at September 30, 2023 related to VIEs)	$ 12,122	$ 13,415
Accounts receivable (includes $223 at December 30, 2023 and $169 at September 30, 2023 related to VIEs)	4,632	3,313
Employee receivables	306	328
Inventories (includes $49 at December 30, 2023 and $47 at September 30, 2023 related to VIEs)	2,972	3,093
Prepaid and refundable income taxes (includes $15 at December 30, 2023 and $204 at September 30, 2023 related to VIEs)	106	212
Prepaid expenses and other current assets (includes $17 at December 30, 2023 and $31 at September 30, 2023 related to VIEs)	1,262	1,569
Total current assets	21,400	21,930
FIXED ASSETS - Net (includes $204 at December 30, 2023 and $216 at September 30, 2023 related to VIEs)	33,523	34,314
OPERATING LEASE RIGHT-OF-USE ASSETS - Net (includes $1,723 at December 30, 2023 and $1,796 at September 30, 2023 related to VIEs)	94,416	96,459
GOODWILL	7,440	7,440
TRADEMARKS	4,220	4,220
INTANGIBLE ASSETS - Net	162	187
DEFERRED INCOME TAXES	3,710	3,738
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	6,518	6,507
OTHER ASSETS (includes $11 at December 30, 2023 and September 30, 2023 related to VIEs)	2,161	2,161
Total assets	173,550	176,956
CURRENT LIABILITIES:
Accounts payable - trade (includes $136 at December 30, 2023 and $93 at September 30, 2023 related to VIEs)	4,573	4,058
Accrued expenses and other current liabilities (includes $265 at December 30, 2023 and $331 at September 30, 2023 related to VIEs)	11,766	13,829
Current portion of operating lease liabilities (includes $304 at December 30, 2023 and $298 at September 30, 2023 related to VIEs)	8,129	7,988
Current portion of notes payable	2,011	1,987
Total current liabilities	26,479	27,862
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION (includes $1,546 at December 30, 2023 and $1,623 at September 30, 2023 related to VIEs)	90,144	92,232
NOTES PAYABLE, LESS CURRENT PORTION	4,649	5,140
TOTAL LIABILITIES	121,272	125,234
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, par value $0.01 per share - authorized, 10,000 shares; issued and outstanding, 3,604 shares at December 30, 2023 and September 30, 2023	36	36
Additional paid-in capital	14,930	14,161
Retained earnings	36,785	36,091
Total Ark Restaurants Corp. shareholders’ equity	51,751	50,288
NON-CONTROLLING INTERESTS	527	1,434
TOTAL EQUITY	52,278	51,722
TOTAL LIABILITIES AND EQUITY	$ 173,550	$ 176,956

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Dec. 30, 2023	Sep. 30, 2023
Cash and cash equivalents	$ 12,122	$ 13,415
Accounts receivable	4,632	3,313
Inventories	2,972	3,093
Prepaid and refundable income taxes	106	212
Prepaid expenses and other current assets	1,262	1,569
Fixed assets - net	33,523	34,314
Operating lease right-of-use asset	94,416	96,459
Other assets	2,161	2,161
Accounts payable - trade	4,573	4,058
Accrued expenses and other current liabilities	11,766	13,829
Current portion of operating lease liabilities	8,129	7,988
Operating lease liabilities, less current portion	$ 90,144	$ 92,232
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000	10,000
Common stock, issued (in shares)	3,604	3,604
Common stock, outstanding (in shares)	3,604	3,604
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 419	$ 564
Accounts receivable	223	169
Inventories	49	47
Prepaid and refundable income taxes	15	204
Prepaid expenses and other current assets	17	31
Fixed assets - net	204	216
Operating lease right-of-use asset	1,723	1,796
Other assets	11	11
Accounts payable - trade	136	93
Accrued expenses and other current liabilities	265	331
Current portion of operating lease liabilities	304	298
Operating lease liabilities, less current portion	$ 1,546	$ 1,623

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
REVENUES:
Total revenues	$ 47,487	$ 47,445
COSTS AND EXPENSES:
Payroll expenses	16,977	16,522
Other operating costs and expenses	6,092	5,932
General and administrative expenses	3,320	3,137
Depreciation and amortization	1,092	1,033
Total costs and expenses	45,884	45,242
OPERATING INCOME	1,603	2,203
OTHER (INCOME) EXPENSE:
Interest expense	171	429
Interest income	(11)	(90)
Other income	(26)	0
Gain on forgiveness of PPP Loans	(285)	(272)
Total other (income) expense, net	(151)	67
INCOME BEFORE PROVISION FOR INCOME TAXES	1,754	2,136
Provision for income taxes	158	114
CONSOLIDATED NET INCOME	1,596	2,022
Net income attributable to non-controlling interests	(226)	(297)
NET INCOME ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$ 1,370	$ 1,725
NET INCOME ATTRIBUTABLE TO ARK RESTAURANTS CORP. PER COMMON SHARE:
Basic (in dollars per share)	$ 0.38	$ 0.48
Diluted (in dollars per share)	$ 0.38	$ 0.47
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in shares)	3,604	3,600
Diluted (in shares)	3,631	3,648
Food and beverage sales
REVENUES:
Total revenues	$ 46,630	$ 46,539
COSTS AND EXPENSES:
Cost of goods and services sold	12,071	12,435
Other revenue
REVENUES:
Total revenues	857	906
Occupancy expenses
COSTS AND EXPENSES:
Cost of goods and services sold	$ 6,332	$ 6,183

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Total Ark Restaurants Corp. Shareholders’ Equity	Common Stock	Additional Paid-In Capital	Retained Earnings	Non- controlling Interests
Beginning balance (in shares) at Oct. 01, 2022			3,600
Beginning balance at Oct. 01, 2022	$ 60,118	$ 59,800	$ 36	$ 15,493	$ 44,271	$ 318
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,022	1,725			1,725	297
Stock-based compensation	79	79		79
Distributions to non-controlling interests	(120)					(120)
Dividends paid	(450)	(450)			(450)
Ending balance (in shares) at Dec. 31, 2022			3,600
Ending balance at Dec. 31, 2022	$ 61,649	61,154	$ 36	15,572	45,546	495
Beginning balance (in shares) at Sep. 30, 2023	3,604		3,604
Beginning balance at Sep. 30, 2023	$ 51,722	50,288	$ 36	14,161	36,091	1,434
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,596	1,370			1,370	226
Elimination of non-controlling interest upon dissolution of subsidiary	0	692		692		(692)
Stock-based compensation	77	77		77
Distributions to non-controlling interests	(441)					(441)
Dividends paid	$ (676)	(676)			(676)
Ending balance (in shares) at Dec. 30, 2023	3,604		3,604
Ending balance at Dec. 30, 2023	$ 52,278	$ 51,751	$ 36	$ 14,930	$ 36,785	$ 527

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (Parentheticals) - $ / shares		3 Months Ended
	Nov. 08, 2023	Dec. 30, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends paid (in USD per share)	$ 0.1875	$ 0.1875	$ 0

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$ 1,596	$ 2,022
Adjustments to reconcile consolidated net income to net cash provided by (used in ) operating activities:
Stock-based compensation	77	79
Gain on forgiveness of PPP Loans	0	272
Deferred income taxes	28	9
Depreciation and amortization	1,092	1,033
Amortization of operating lease assets	96	311
Amortization of deferred financing costs	13	12
Changes in operating assets and liabilities:
Accounts receivable	(1,319)	(1,003)
Inventories	121	254
Prepaid, refundable and accrued income taxes	106	103
Prepaid expenses and other current assets	307	268
Other assets	0	10
Accounts payable - trade	515	280
Accrued expenses and other current liabilities	(2,063)	(3,975)
Net cash provided by (used in) operating activities	558	(903)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(276)	(797)
Loans and advances made to employees	(10)	(14)
Payments received on employee receivables	32	60
Net cash used in investing activities	(254)	(751)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable	(480)	(1,257)
Principal payments on PPP Loans	0	(531)
Dividends paid	(676)	(450)
Distributions to non-controlling interests	(441)	(120)
Net cash used in financing activities	(1,597)	(2,358)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,293)	(4,012)
CASH AND CASH EQUIVALENTS, Beginning of period	13,415	23,439
CASH AND CASH EQUIVALENTS, End of period	12,122	19,427
Cash paid during the period for:
Interest	158	416
Income taxes	25	2
Non-Cash Financing Activities [Abstract]
Elimination of non-controlling interest upon dissolution of subsidiary	692	0
Certificates of Deposit
Adjustments to reconcile consolidated net income to net cash provided by (used in ) operating activities:
Accrued interest	0	(23)
Notes Receivable
Adjustments to reconcile consolidated net income to net cash provided by (used in ) operating activities:
Accrued interest	$ (11)	$ (11)

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Dec. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The consolidated condensed balance sheet as of September 30, 2023, which has been derived from the audited consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended September 30, 2023 (“Form 10-K”), and the unaudited interim consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. All adjustments that, in the opinion of management are necessary for a fair presentation for the periods presented, have been reflected as required by Article 10 of Regulation S-X. Such adjustments are of a normal, recurring nature. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Form 10-K. INFLATION — Our operating results have been and continue to be impacted by geopolitical and macroeconomic events, causing supply chain challenges and significantly increased commodity and wage inflation and other increased costs. The ongoing impact of these events could lead to further shifts in consumer behavior, wage inflation, staffing challenges, product and services cost inflation, disruptions in the supply chain and delays in opening or acquiring new restaurants. If these factors significantly impact our cash flow in the future, we may again implement mitigation actions such as suspending dividends, increasing borrowings or modifying our operating strategies. Some of these measures may have an adverse impact on our business, including possible impairments of assets. PRINCIPLES OF CONSOLIDATION — The consolidated condensed financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest, collectively herein referred to as the “Company”. Also included in the consolidated condensed financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation. USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and 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. The accounting estimates that require management’s most difficult and subjective judgments include: projected cash flows, allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its long-lived assets, such as property, right-of-use assets and intangibles, fair values of financial instruments and share-based compensation, estimates made in connection with acquisitions and impairment analyses, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates. The results of operations for the 13 weeks ended December 30, 2023 are not necessarily indicative of the results to be expected for any other interim period or for the year ending September 28, 2024. NON-CONTROLLING INTERESTS — Non-controlling interests represent capital contributions from, distributions to and income and loss attributable to the shareholders of less than wholly-owned and consolidated entities. SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. Although our business is highly seasonal, our broader geographical reach as a result of recent acquisitions mitigates some of the risk. For instance, the second quarter of our fiscal year, consisting of the non-holiday portion of the cold weather season in New York and Washington, D.C. (January, February and March), is the poorest performing quarter; however, in recent years this has been partially offset by our locations in Florida as they experience increased results in the winter months. We generally achieve our best results during the warm weather, attributable to our extensive outdoor dining availability, particularly at Bryant Park in New York and Sequoia in Washington, D.C. (our largest restaurants) and our outdoor cafes. However, even during summer months these facilities can be adversely affected by unusually cool or rainy weather conditions. Our facilities in Las Vegas are indoor and generally operate on a more consistent basis throughout the year. FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables and accounts payable approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet date and approximate the carrying value of such debt instruments. CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly-liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets. CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed federally insured limits. Accounts receivable is primarily comprised of normal business receivables such as credit card receivables that are paid in a short period of time and other receivables from hotel operators where the Company has a location and are recorded upon satisfaction of the performance obligation. Management believes based on historical information that credit card receivables and receivables which are paid in a short period of time and from hotel operators where the Company has a location do not typically result in credit losses, and therefore does not record an allowance for doubtful accounts. As of December 30, 2023, the Company had accounts receivable balances due from one hotel operator totaling 50% of total accounts receivable. As of September 30, 2023, the Company had accounts receivable balances due from one hotel operator totaling 52% of total accounts receivable. For the 13-week period ended December 30, 2023, the Company made purchases from one vendor that accounted for 11% of total purchases. For the 13-week period ended December 31, 2022, the Company did not make purchases from any one vendor that accounted for more than 10% of total purchases. As of December 30, 2023 and September 30, 2023, all debt outstanding, other than the note payable to the sellers of the Blue Moon Fish Company , is with one lender (see Note 8 – Notes Payable). GOODWILL AND TRADEMARKS — Goodwill and trademarks are not amortized, but are subject to impairment analysis. We assess the potential impairment of goodwill and trademarks annually (at the end of our fourth quarter) and on an interim basis whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If we determine through the impairment review process that goodwill or trademarks are impaired, we record an impairment charge in our consolidated condensed statements of income. The Company did not record any impairment to its goodwill or trademarks during the 13-weeks ended December 30, 2023 and December 31, 2022, respectively. It is possible that impairments could be identified in future periods, and such amounts could be material. LONG-LIVED AND RIGHT-OF-USE ASSETS — Long-lived assets, such as property, plant and equipment, purchased intangibles subject to amortization, and right-of-use assets ("ROU assets") are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation of the fair value and future benefits of long-lived assets, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value. Various factors including estimated future sales growth and estimated profit margins are included in this analysis. The Company considers a triggering event related to long-lived assets or ROU assets in a net asset position to have occurred related to a specific restaurant if the restaurant’s cash flows for the last 12 months are less than a minimum threshold or if consistent levels of undiscounted cash flows for the remaining lease period are less than the carrying value of the restaurant’s assets. Additionally, the Company considers a triggering event related to ROU assets to have occurred related to a specific lease if the location has been subleased and future estimated sublease income is less than current lease payments. If the Company concludes that the carrying value of certain long-lived and ROU assets will not be recovered based on expected undiscounted future cash flows, an impairment loss is recorded to reduce the long-lived or ROU assets to their estimated fair value. The fair value is measured on a nonrecurring basis using unobservable (Level 3) inputs. There is uncertainty in the projected undiscounted future cash flows used in the Company's impairment review analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods, and such charges could be material. Based on the results of this analysis, no impairment charges were recognized related to long-lived assets or ROU assets during the 13 weeks ended December 30, 2023 and December 31, 2022. Given the inherent uncertainty in projecting results of restaurants under the current circumstances, the Company is monitoring the recoverability of the carrying value of the assets of several restaurants on an ongoing basis. For these restaurants, if expected performance is not realized, an impairment charge may be recognized in future periods, and such charge could be material. REVENUE RECOGNITION — We recognize revenue upon the satisfaction of our performance obligation by transferring control over a product or service to a restaurant guest or other customer. Revenues from restaurant operations are presented net of discounts, coupons, employee meals and complimentary meals and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Catering service revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for the service. Revenues from catered events are recognized in income upon satisfaction of the performance obligation (the date the event is held) and all customer payments, including nonrefundable upfront deposits, are deferred as a contract liability until such time. We recognized $6,414,000 and $5,583,000 in catering services revenue for the 13-week periods ended December 30, 2023 and December 31, 2022, respectively. Unearned revenue, which is included in accrued expenses and other current liabilities on the consolidated condensed balance sheets, as of December 30, 2023 and September 30, 2023 was $3,418,000 and $5,962,000, respectively. Revenues from gift cards are deferred and recognized upon redemption. Deferrals are not reduced for potential non-use as we generally have a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions in which they are sold. As of December 30, 2023 and September 30, 2023, the total liability for gift cards in the amounts of approximately $513,000 and $340,000, respectively, are included in accrued expenses and other current liabilities in the consolidated condensed balance sheets. Other revenues include purchase service fees which represent commissions earned by a subsidiary of the Company for providing services to other restaurant groups, as well as license fees, property management fees and other rentals. LEASES — We determine if an arrangement contains a lease at inception. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration. As a lessee, we include operating leases in Operating lease right-of-use assets and Operating lease liabilities in our consolidated condensed 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. Operating lease right-of-use assets and liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease. Options are included when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Amendments or modifications to lease terms are accounted for as variable lease payments. Leases with a lease term of 12 months or less are accounted for using the practical expedient which allows for straight-line rent expense over the remaining term of the lease. SEGMENT REPORTING — As of December 30, 2023, the Company owned and operated 17 restaurants and bars, 16 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and services, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating components into a single operating segment in accordance with applicable accounting guidance. RECENTLY ADOPTED ACCOUNTING PRINCIPLES — On October 1, 2023, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments , issued by the Financial Accounting Standards Board (“FASB”) and its related amendments using the prospective method. The new standard changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments, including credit card receivables and receivables from hotel operators where the Company has a location, from an incurred loss model to an expected loss model and adds certain new required disclosures. Under the expected loss model, entities recognize credit losses to be incurred over the entire contractual term of the instrument rather than delaying recognition of credit losses until it is probable the loss has been incurred. In accordance with this guidance, the Company evaluates certain criteria, including aging and historical write-offs, current economic conditions of specific customers and future economic conditions to determine the appropriate allowance for credit losses. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS — In December 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which enhances transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid and to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, which is for fiscal year 2026 and interim periods beginning in the first quarter of fiscal 2027, with early adoption permitted. The amendments may be applied prospectively or retrospectively with early adoption permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative . The ASU incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As we are currently subject to these SEC requirements, this ASU is not expected to have a material impact on our consolidated financial statements or related disclosures. No other new accounting pronouncements issued or effective as of December 30, 2023 have had or are expected to have a material impact on our consolidated financial statements.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
VARIABLE INTEREST ENTITIES	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company consolidates any variable interest entities in which it holds a variable interest and is the primary beneficiary. Generally, a variable interest entity, or VIE, is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support; (b) as a group the holders of the equity investment at risk lack (i) the ability to make decisions about an entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The primary beneficiary of a VIE is generally the entity that has (a) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company has determined that it is the primary beneficiary of three VIEs and, accordingly, consolidates the financial results of these entities. Following are the assets and liabilities of the Company’s consolidated VIEs: December 30, September 30, (in thousands) Cash and cash equivalents $ 419 $ 564 Accounts receivable 223 169 Inventories 49 47 Prepaid and refundable income taxes 15 204 Prepaid expenses and other current assets 17 31 Due from Ark Restaurants Corp. and affiliates (1) 219 58 Fixed assets - net 204 216 Operating lease right-of-use assets - net 1,723 1,796 Other assets 11 11 Total assets $ 2,880 $ 3,096 Accounts payable - trade $ 136 $ 93 Accrued expenses and other current liabilities 265 331 Current portion of operating lease liabilities 304 298 Operating lease liabilities, less current portion 1,546 1,623 Total liabilities 2,251 2,345 Equity of variable interest entities 629 751 Total liabilities and equity $ 2,880 $ 3,096 (1) Amounts Due from and to Ark Restaurants Corp. and affiliates are eliminated upon consolidation. The liabilities of $2,251,000 and $2,345,000 at December 30, 2023 and September 30, 2023, respectively, recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets and creditors of the VIEs do not have recourse to the general credit of the Company; rather, they represent claims against the specific assets of the consolidated VIEs. Conversely, the assets of $2,880,000 and $3,096,000 at December 30, 2023 and September 30, 2023, respectively, recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets, these assets can be used only to settle obligations of the three VIEs.

RECENT RESTAURANT EXPANSION AND

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS	3 Months Ended
RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS	Dec. 30, 2023
Business Combination and Asset Acquisition [Abstract]
RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS	RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS On June 24, 2022, the Company extended its lease for America at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2033. In connection with the extension, the Company has agreed to spend a minimum of $4,000,000 to materially refresh the premises by December 31, 2024, subject to various extensions as set out in the agreement. No amounts have been expended to date related to this refresh. On July 21, 2022, the Company extended its lease for the Village Eateries at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2034. As part of this extension, the Broadway Burger Bar and Grill and Gonzalez y Gonzalez , were carved out of the Village Eateries footprint and the extended date for those two locations is December 31, 2033. In connection with the extension, the Company has agreed to spend a minimum of $3,500,000 to materially refresh all three of these premises by June 30, 2024, as extended. To date approximately $100,000 has been spent on this refresh. Each of the above refresh obligations are to be consistent with designs approved by the landlord which shall not be unreasonably withheld. We will continue to pay all rent as required by the leases without abatement during construction. Note that our substantial completion of work set forth in plans approved by the landlord shall constitute our compliance with the requirements of the completion deadlines, regardless of whether or not the amount actually expended in connection therewith is less than the minimum.

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS AND OTHER DEVELOPMENTS	3 Months Ended
RECENT RESTAURANT DISPOSITIONS AND OTHER DEVELOPMENTS	Dec. 30, 2023
Recent Restaurant Dispositions [Abstract]
RECENT RESTAURANT DISPOSITIONS AND OTHER DEVELOPMENTS	RECENT RESTAURANT DISPOSITIONS AND OTHER DEVELOPMENTS During the 13 weeks ended December 30, 2023, the Company dissolved the entity which owned Lucky 7 at the Foxwoods Resort and Casino, which was closed in July of 2022. In connection with the dissolution, the Company reclassified the remaining non-controlling interest balance to additional paid-in capital.

INVESTMENT IN AND RECEIVABLE FR

INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	3 Months Ended
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	Dec. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK On March 12, 2013, the Company made a $4,200,000 investment in the New Meadowlands Racetrack LLC (“NMR”) through its purchase of a membership interest in Meadowlands Newmark, LLC, an existing member of NMR with a then 63.7% ownership interest. On November 19, 2013, the Company invested an additional $464,000 in NMR through the purchase of an additional membership interest in Meadowlands Newmark, LLC resulting in a total ownership of 11.6% of Meadowlands Newmark, LLC, and an effective ownership interest in NMR as of April 1, 2023 and October 1, 2022 of 7.4%, subject to dilution. In 2015, the Company invested an additional $222,000 in NMR and in February 2017, the Company invested an additional $222,000 in NMR, both as a result of capital calls with no change in ownership, bringing its total investment to $5,108,000. The Company accounts for this investment at cost, less impairment, adjusted for subsequent observable price changes in accordance with Accounting Standards Updated ("ASU") No. 2016-01. There are no observable prices for this investment. During the 13 weeks ended December 30, 2023, the Company received distributions of $26,000 from NMR which have been recorded as other income in the consolidated condensed statements of income. During the 13 weeks ended December 31, 2022, the Company did not receive any distributions from NMR. The Company evaluated its investment in NMR for impairment and concluded that its fair value exceeds the carrying value. Accordingly, the Company did not record any impairment during the 13 weeks ended December 30, 2023 and December 31, 2022. Any future changes in the carrying value of our investment in NMR will be reflected in earnings. In addition to the Company’s ownership interest in NMR through Meadowlands Newmark, LLC, if casino gaming is approved at the Meadowlands and NMR is granted the right to conduct said gaming, neither of which can be assured, the Company shall be granted the exclusive right to operate the food and beverage concessions in the gaming facility with the exception of one restaurant. In conjunction with this investment, the Company, through a 97% owned subsidiary, Ark Meadowlands LLC (“AM VIE”), also entered into a long-term agreement with NMR for the exclusive right to operate food and beverage concessions serving the new raceway facilities (the “Racing F&B Concessions”) located in the new raceway grandstand constructed at the Meadowlands Racetrack in northern New Jersey. Under the agreement, NMR is responsible to pay for the costs and expenses incurred in the operation of the Racing F&B Concessions, and all revenues and profits thereof inure to the benefit of NMR. AM VIE receives an annual fee equal to 5% of the net profits received by NMR from the Racing F&B Concessions during each calendar year. AM VIE is a variable interest entity; however, based on qualitative consideration of the contracts with AM VIE, the operating structure of AM VIE, the Company’s role with AM VIE, and that the Company is not obligated to absorb expected losses of AM VIE, the Company has concluded that it is not the primary beneficiary and not required to consolidate the operations of AM VIE. The Company’s maximum exposure to loss as a result of its involvement with AM VIE is limited to any receivable from AM VIE’s primary beneficiary (NMR). As of December 30, 2023 and September 30, 2023, $25,000 and $11,000 were due to AM VIE by NMR, respectively. On April 25, 2014, the Company loaned $1,500,000 to Meadowlands Newmark, LLC. The note bears interest at 3%, compounded monthly and added to the principal, and was originally due in its entirety on January 31, 2024. The note may be prepaid, in whole or in part, at any time without penalty or premium. The principal and accrued interest related to this note in the amounts of $1,410,000 and $1,399,000 are included in Investment in and Receivable from New Meadowlands Racetrack in the consolidated condensed balance sheets at December 30, 2023 and September 30, 2023, respectively. On April 20, 2023, the maturity date of the note was extended to June 30, 2029.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	Dec. 30, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: December 30, September 30, (In thousands) Sales tax payable $ 1,302 $ 765 Accrued wages and payroll related costs 4,140 4,487 Customer advance deposits 3,418 5,962 Accrued occupancy and other operating expenses 2,906 2,615 $ 11,766 $ 13,829

LEASES

LEASES	3 Months Ended
LEASES	Dec. 30, 2023
Leases [Abstract]
LEASES	LEASES Other than locations where we own the underlying property, we lease our restaurant locations as well as our corporate office under various non-cancelable real estate lease agreements that expire on various dates through 2046. We evaluate whether we control the use of the asset, which is determined by assessing whether we obtain substantially all economic benefits from the use of the asset, and whether we have the right to direct the use of the asset. If these criteria are met and we have identified a lease, we account for the contract under the requirements of Accounting Standards Codification ("ASC") Topic 842. Upon taking possession of a leased asset, we determine its classification as an operating or finance lease. All of our real estate leases are classified as operating leases. We do not have any finance leases as of December 30, 2023. Generally, our real estate leases have initial terms ranging from 10 to 25 years and typically include renewal options. Renewal options are recognized as part of the ROU assets and lease liabilities if it is reasonably certain at the date of adoption that we would exercise the options to extend the lease. Our real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, variable lease expense is accrued in proportion to the sales recognized during the period. For operating leases that include rent holidays and rent escalation clauses, we recognize lease expense on a straight-line basis over the lease term from the date we take possession of the leased property. We record the straight-line lease expense and any contingent rent, if applicable, in occupancy expenses in the consolidated condensed statements of income. Many of our real estate leases also require us to pay real estate taxes, common area maintenance costs and other occupancy costs (“non-lease components”) which are included in occupancy related expenses in the consolidated condensed statements of income. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As there were no explicit rates provided in our leases, we used our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The components of lease expense in the consolidated condensed statements of income are as follows: 13 Weeks Ended December 30, December 31, (In thousands) Operating lease expense - occupancy expenses (1) $ 3,454 $ 3,528 Occupancy lease expense - general and administrative expenses 122 114 Variable lease expense - occupancy expenses 1,377 1,357 Total lease expense $ 4,953 $ 4,999 _________________________________ (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases: 13 Weeks Ended December 30, December 31, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 4,898 $ — $ 5,171 The weighted average remaining lease terms and discount rates as of December 30, 2023 are as follows: Weighted Average Weighted Average Operating leases 11.8 years 6.2 % The annual maturities of our lease liabilities as of December 30, 2023 are as follows: Operating Fiscal Year Ending (In thousands) September 28, 2024 $ 10,450 September 27, 2025 12,881 October 3, 2026 12,143 October 2, 2027 11,960 September 30, 2028 12,057 Thereafter 79,284 Total future lease commitments 138,775 Less imputed interest (40,502) Present value of lease liabilities $ 98,273

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
NOTES PAYABLE	Dec. 30, 2023
Notes Payable [Abstract]
NOTES PAYABLE	NOTES PAYABLE Notes payable consist of the following: December 30, September 30, (In thousands) Promissory Note - Rustic Inn purchase $ 2,830 $ 2,902 Promissory Note - JB's on the Beach purchase 2,500 2,750 Promissory Note - Sequoia renovation 1,143 1,257 Promissory Note - Blue Moon Fish Company 269 313 6,742 7,222 Less: Current maturities (2,011) (1,987) Less: Unamortized deferred financing costs (82) (95) Long-term portion $ 4,649 $ 5,140 Credit Facility On March 30, 2023, the Company entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”), with its lender, Bank Hapoalim B.M. (“BHBM”). This facility, which matures on June 1, 2025, replaced our revolving credit facility which was entered into in June 1, 2018 (the "Prior Credit Agreement"). Under the terms of the Credit Agreement: (i) a promissory note under the Prior Credit Agreement in the amount of $6,666,000 was repaid, (ii) BHBM established a new revolving credit facility in the amount of $10,000,000 with a commitment termination date of May 31, 2025, (iii) the Company may use the revolving commitments of BHBM to obtain letters of credit up to a sublimit thereunder of $1,000,000, and (iv) the LIBOR rate option for all borrowings was replaced with the secured overnight financing rate for U.S. Government Securities (“SOFR”). Advances under the Credit Agreement bear interest, at the Company's election at the time of the advance, at either BHBM's prime rate of interest plus a 0.45% spread or SOFR plus a 3.65% spread. In addition, there is a 0.30% per annum fee for any unused portion of the $10,000,000 revolving facility. As of December 30, 2023, no advances were outstanding under the Credit Agreement. As of December 30, 2023, the weighted average interest on the outstanding BHBM indebtedness was approximately 9.0%. The Credit Agreement also requires, among other things, that the Company meet minimum quarterly tangible net worth amounts, maintain a minimum fixed charge coverage ratio and meet minimum annual net income amounts. The Credit Agreement contains customary representations, warranties and affirmative covenants as well as customary negative covenants, subject to negotiated exceptions on liens, relating to other indebtedness, capital expenditures, liens, affiliate transactions, disposal of assets and certain changes in ownership. Borrowings and all other obligations under the Credit Agreement (including amounts outstanding under the existing term notes (discussed below)) are secured by all tangible and intangible personal property (including accounts receivable, inventory, equipment, general intangibles, documents, chattel paper, instruments, letter-of-credit rights, investment property, intellectual property and deposit accounts) and fixtures of the Company. On March 30, 2023, in connection with entering into the Credit Agreement, the Company amended each of the following promissory notes to replace the interest rate benchmark based on LIBOR and related LIBOR-based mechanics with an interest rate benchmark based on SOFR, with such amendments becoming effective upon the expiration of the then applicable interest period (the “Notes Amendment Effective Date”) and with the following terms: • Promissory Note – Rustic Inn purchase – The principal amount of $4,400,000, which is secured by a mortgage on the Rustic Inn real estate, is payable in 27 equal quarterly installments of $71,333, commencing on September 1, 2018, with a balloon payment of $2,474,000 on June 1, 2025, and commencing on the Notes Amendment Effective Date, bears interest at SOFR plus 3.65% per annum. • Promissory Note – JB's on the Beach purchase – On May 15, 2019, the Company issued a promissory note under the Revolving Facility to BHBM for $7,000,000, which is payable in 23 equal quarterly installments of $250,000, commencing on September 1, 2019, with a balloon payment of $1,250,000 on June 1, 2025, and commencing on the Notes Amendment Effective Date, bears interest at SOFR plus 3.65% per annum. • Promissory Note – Sequoia renovation – Also on May 15, 2019, the Company converted $3,200,000 of Revolving Facility borrowings incurred in connection with the Sequoia renovation to a promissory note which is payable in 23 equal quarterly installments of $114,286, commencing on September 1, 2019, with a balloon payment of $571,429 on June 1, 2025, and commencing on the Notes Amendment Effective Date, bears interest at SOFR plus 3.65% per annum. • Promissory Note – Revolving Facility – On July 26, 2021, all outstanding borrowings under the previous revolving facility, in the amount of $9,666,000, were converted to a promissory note with quarterly principal payments of $500,000 commencing on September 1, 2021, with a balloon payment of $2,166,000 on June 1, 2025. Such note, which was repaid on March 30, 2023, bore interest at SOFR plus 3.65% per annum. Promissory Note - Blue Moon Fish Company On December 1, 2020, the Company acquired a restaurant and bar named Blue Moon Fish Company located in Lauderdale-by-the-Sea, FL. In connection with the purchase the Company entered into a four Paycheck Protection Program Loans During the year ended October 3, 2020, subsidiaries and consolidated VIEs (the “Borrowers”) of the Company received loan proceeds from several banks (the “Lenders”) in the aggregate amount of $14,995,000 (the “PPP Loans”) under the Paycheck Protection Program (the “PPP”) of the CARES Act, which was enacted March 27, 2020. In addition, during the 13 weeks ended April 3, 2021, one of our consolidated VIEs received a second draw PPP Loan in the amount of $111,000. The PPP Loans were evidenced by individual promissory notes of each of the Borrowers (together, the “Notes”) in favor of the Lender, which Notes bore interest at the rate of 1.00% per annum. Funds from the PPP Loans were to be used only for payroll and related costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations that were incurred by a Borrower prior to February 15, 2020 (the “Qualifying Expenses”). Under the terms of the PPP Loans, some or all of the amounts thereunder, including accrued interest, were to be forgiven if they were used for Qualifying Expenses as described in and in compliance with the CARES Act. During the 13 weeks ended December 30, 2023, the Company prevailed in its appeal of a previously denied forgiveness decision related to a PPP Loan, and accordingly, was refunded $285,000 (including $6,000 of interest). During the 13 weeks ended December 31, 2022, $272,000 of PPP Loans (including $6,000 of accrued interest) was forgiven. As of December 30, 2023, no PPP Loans were outstanding. Deferred Financing Costs

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Leases — The Company leases several restaurants, bar facilities, and administrative headquarters through its subsidiaries under terms expiring at various dates through 2046. Most of the leases provide for the payment of base rents plus real estate taxes, insurance and other expenses and, in certain instances, for the payment of a percentage of the restaurant’s sales in excess of stipulated amounts at such facility and in one instance based on profits. In connection with two of our leases, the Company obtained and delivered irrevocable letters of credit totaling approximately $542,000 as security deposits under such leases. Legal Proceedings — In the ordinary course of its business, the Company is a party to various lawsuits arising from accidents at its restaurants and workers’ compensation claims, which are generally handled by the Company’s insurance carriers. The employment by the Company of management personnel, waiters, waitresses and kitchen staff at a number of different restaurants has resulted in the institution, from time to time, of litigation alleging violation by the Company of employment discrimination laws. Management believes, based in part on the advice of counsel, that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

STOCK OPTIONS

STOCK OPTIONS	3 Months Ended
STOCK OPTIONS	Dec. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK OPTIONS	STOCK OPTIONS The Company has options outstanding under two stock option plans, the 2016 Stock Option Plan and the 2022 Stock Option Plan. Options granted under both plans are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted and expire 10 years after the date of grant. During the 13-week periods ended December 30, 2023 and December 31, 2022, no options to purchase shares of common stock were issued by the Company. The Company also maintains a Section 162(m) Cash Bonus Plan. Under the Company's Section 162(m) Cash Bonus Plan, compensation paid in excess of $1,000,000 to any employee who is the chief executive officer or one of the three highest paid executive officers on the last day of that tax year (other than the chief executive officer or the chief financial officer) is not tax deductible. A summary of stock option activity is presented below: 2024 Shares Weighted Weighted Aggregate Outstanding, beginning of period 471,250 $19.57 5.2 years Options: Granted — Exercised — Canceled or expired — Outstanding and expected to vest, 471,250 $19.57 5.0 years $ 308,000 Exercisable, end of period 310,125 $20.21 4.1 years $ 154,000 Shares available for future grant 477,500 Compensation cost charged to operations for the 13 weeks ended December 30, 2023 and December 31, 2022 for share-based compensation programs was approximately $77,000 and $79,000, respectively. The compensation cost recognized is classified as a general and administrative expense in the consolidated condensed statements of income. As of December 30, 2023, there was approximately $151,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of 3.2 years.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Dec. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We calculate our interim income tax provision in accordance with ASC Topic 270, Interim Reporting and ASC Topic 740, Accounting for Income Taxes . At the end of each interim period, we estimate the annual effective tax rate and apply that rate to our ordinary year to date earnings. In addition, the tax effects of unusual or infrequently occurring items including changes in judgment about valuation allowances and effects of changes in enacted tax laws are recognized discretely in the interim period in which the change occurs. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including the expected operating (loss) income for the year, permanent and temporary differences as a result of differences between amounts measured and recognized in accordance with tax laws and financial accounting standards, and the likelihood of recovering deferred tax assets generated in the current fiscal year. The accounting estimates used to compute income tax expense may change as new events occur, additional information is obtained, or the tax environment changes. On December 27, 2020, the Consolidated Appropriations Act of 2021 (“CAA”) was enacted and provided clarification on the tax deductibility of expenses funded with PPP loans as fully deductible for tax purposes. During the 13-week periods ended December 30, 2023 and December 31, 2022, the Company recorded income of $285,000 and $272,000, respectively, for financial reporting purposes related to the forgiveness of some of its PPP Loans. The forgiveness of these amounts is not taxable and the related income recorded for financial reporting purposes was considered an unusual or infrequent event and the tax effect was recorded discretely in the quarter. The provision for income taxes for the 13-week period ended December 30, 2023 was $158,000 and the effective tax rate was 9.0%. The effective tax rate differed from the federal statutory rate of 21% primarily as a result of the recognition of certain tax benefits related to the expected generation of FICA tax credits in the current year, operating income attributable to non-controlling interests that is not taxable to the Company, and the discrete tax benefit attributable to income related to the PPP Loan forgiveness which is not taxable for income tax reporting purposes. The provision for income taxes for the 13-week period ended December 31, 2022 was $114,000 and the effective tax rate was 5.3%. The effective tax rate differed from the federal statutory rate of 21% primarily as a result of the tax benefits related to the generation of FICA tax credits, operating income attributable to non-controlling interests that is not taxable to the Company and the discrete tax benefit attributable to income related to the PPP loan forgiveness which is not taxable for income tax reporting purposes. The Company’s overall effective tax rate in the future will be affected by factors such as changes in tax law, the utilization of state and local net operating loss carryforwards, the generation and expected utilization of FICA tax credits, and the mix of earnings by state taxing jurisdictions as Nevada does not impose a state income tax, as compared to the other major state and local jurisdictions in which the Company has operations. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from current estimates.

INCOME PER SHARE OF COMMON STOC

INCOME PER SHARE OF COMMON STOCK	3 Months Ended
INCOME PER SHARE OF COMMON STOCK	Dec. 30, 2023
Earnings Per Share [Abstract]
INCOME PER SHARE OF COMMON STOCK	INCOME PER SHARE OF COMMON STOCK Basic earnings per share is computed by dividing net income attributable to Ark Restaurants Corp. by the weighted average number of common shares outstanding for the period. Our diluted earnings per share is computed similarly to basic earnings per share, except that it reflects the effect of common shares issuable upon exercise of stock options, using the treasury stock method in periods in which they have a dilutive effect. A reconciliation of shares used in calculating earnings per basic and diluted share follows (amounts in thousands): 13 Weeks Ended December 30, December 31, Basic 3,604 3,600 Effect of dilutive securities: Stock options 27 48 Diluted 3,631 3,648 For the 13-week period ended December 30, 2023, the dilutive effect of 381,250 options was not included in diluted earnings per share as their impact would be anti-dilutive. For the 13-week period ended December 31, 2022, the dilutive effect of 418,000 options was not included in diluted earnings per share as their impact would have been anti-dilutive.

DIVIDENDS

DIVIDENDS	3 Months Ended
DIVIDENDS	Dec. 30, 2023
Dividends [Abstract]
DIVIDENDS	DIVIDENDS On November 8, 2023, the Board of Directors of the Company (the "Board") declared a quarterly cash dividend of $0.1875 per share which was paid on December 13, 2023 to shareholders of record of the Company's common stock at the close of business on November 30, 2023. Future decisions to pay or to increase or decrease dividends are at the discretion of the Board and will depend upon operating performance and other factors.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Dec. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 6, 2024, the Board of Directors declared a quarterly cash dividend of $0.1875 per share to be paid on March 13, 2024 to shareholders of record of the Company's common stock at the close of business on February 29, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 1,370	$ 1,725

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 30, 2023
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

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	The consolidated condensed balance sheet as of September 30, 2023, which has been derived from the audited consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended September 30, 2023 (“Form 10-K”), and the unaudited interim consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. All adjustments that, in the opinion of management are necessary for a fair presentation for the periods presented, have been reflected as required by Article 10 of Regulation S-X. Such adjustments are of a normal, recurring nature. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Form 10-K.
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATION — The consolidated condensed financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest, collectively herein referred to as the “Company”. Also included in the consolidated condensed financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.
USE OF ESTIMATES	USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and 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. The accounting estimates that require management’s most difficult and subjective judgments include: projected cash flows, allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its long-lived assets, such as property, right-of-use assets and intangibles, fair values of financial instruments and share-based compensation, estimates made in connection with acquisitions and impairment analyses, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates. The results of operations for the 13 weeks ended December 30, 2023 are not necessarily indicative of the results to be expected for any other interim period or for the year ending September 28, 2024.
NON-CONTROLLING INTERESTS	NON-CONTROLLING INTERESTS — Non-controlling interests represent capital contributions from, distributions to and income and loss attributable to the shareholders of less than wholly-owned and consolidated entities.
SEASONALITY	SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. Although our business is highly seasonal, our broader geographical reach as a result of recent acquisitions mitigates some of the risk. For instance, the second quarter of our fiscal year, consisting of the non-holiday portion of the cold weather season in New York and Washington, D.C. (January, February and March), is the poorest performing quarter; however, in recent years this has been partially offset by our locations in Florida as they experience increased results in the winter months. We generally achieve our best results during the warm weather, attributable to our extensive outdoor dining availability, particularly at Bryant Park in New York and Sequoia in Washington, D.C. (our largest restaurants) and our outdoor cafes. However, even during summer months these facilities can be adversely affected by unusually cool or rainy weather conditions. Our facilities in Las Vegas are indoor and generally operate on a more consistent basis throughout the year.
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables and accounts payable approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet date and approximate the carrying value of such debt instruments.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly-liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets.
CONCENTRATIONS OF CREDIT RISK	CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed federally insured limits. Accounts receivable is primarily comprised of normal business receivables such as credit card receivables that are paid in a short period of time and other receivables from hotel operators where the Company has a location and are recorded upon satisfaction of the performance obligation. Management believes based on historical information that credit card receivables and receivables which are paid in a short period of time and from hotel operators where the Company has a location do not typically result in credit losses, and therefore does not record an allowance for doubtful accounts. As of December 30, 2023, the Company had accounts receivable balances due from one hotel operator totaling 50% of total accounts receivable. As of September 30, 2023, the Company had accounts receivable balances due from one hotel operator totaling 52% of total accounts receivable. For the 13-week period ended December 30, 2023, the Company made purchases from one vendor that accounted for 11% of total purchases. For the 13-week period ended December 31, 2022, the Company did not make purchases from any one vendor that accounted for more than 10% of total purchases. As of December 30, 2023 and September 30, 2023, all debt outstanding, other than the note payable to the sellers of the Blue Moon Fish Company , is with one lender (see Note 8 – Notes Payable).
GOODWILL AND TRADEMARKS	GOODWILL AND TRADEMARKS — Goodwill and trademarks are not amortized, but are subject to impairment analysis. We assess the potential impairment of goodwill and trademarks annually (at the end of our fourth quarter) and on an interim basis whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If we determine through the impairment review process that goodwill or trademarks are impaired, we record an impairment charge in our consolidated condensed statements of income. The Company did not record any impairment to its goodwill or trademarks during the 13-weeks ended December 30, 2023 and December 31, 2022, respectively. It is possible that impairments could be identified in future periods, and such amounts could be material.
LONG-LIVED AND RIGHT-OF-USE ASSETS	LONG-LIVED AND RIGHT-OF-USE ASSETS — Long-lived assets, such as property, plant and equipment, purchased intangibles subject to amortization, and right-of-use assets ("ROU assets") are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation of the fair value and future benefits of long-lived assets, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value. Various factors including estimated future sales growth and estimated profit margins are included in this analysis. The Company considers a triggering event related to long-lived assets or ROU assets in a net asset position to have occurred related to a specific restaurant if the restaurant’s cash flows for the last 12 months are less than a minimum threshold or if consistent levels of undiscounted cash flows for the remaining lease period are less than the carrying value of the restaurant’s assets. Additionally, the Company considers a triggering event related to ROU assets to have occurred related to a specific lease if the location has been subleased and future estimated sublease income is less than current lease payments. If the Company concludes that the carrying value of certain long-lived and ROU assets will not be recovered based on expected undiscounted future cash flows, an impairment loss is recorded to reduce the long-lived or ROU assets to their estimated fair value. The fair value is measured on a nonrecurring basis using unobservable (Level 3) inputs. There is uncertainty in the projected undiscounted future cash flows used in the Company's impairment review analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods, and such charges could be material.
REVEVNUE RECOGNITION	REVENUE RECOGNITION — We recognize revenue upon the satisfaction of our performance obligation by transferring control over a product or service to a restaurant guest or other customer. Revenues from restaurant operations are presented net of discounts, coupons, employee meals and complimentary meals and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Catering service revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for the service. Revenues from catered events are recognized in income upon satisfaction of the performance obligation (the date the event is held) and all customer payments, including nonrefundable upfront deposits, are deferred as a contract liability until such time. We recognized $6,414,000 and $5,583,000 in catering services revenue for the 13-week periods ended December 30, 2023 and December 31, 2022, respectively. Unearned revenue, which is included in accrued expenses and other current liabilities on the consolidated condensed balance sheets, as of December 30, 2023 and September 30, 2023 was $3,418,000 and $5,962,000, respectively. Revenues from gift cards are deferred and recognized upon redemption. Deferrals are not reduced for potential non-use as we generally have a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions in which they are sold. As of December 30, 2023 and September 30, 2023, the total liability for gift cards in the amounts of approximately $513,000 and $340,000, respectively, are included in accrued expenses and other current liabilities in the consolidated condensed balance sheets. Other revenues include purchase service fees which represent commissions earned by a subsidiary of the Company for providing services to other restaurant groups, as well as license fees, property management fees and other rentals.
LEASES	LEASES — We determine if an arrangement contains a lease at inception. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration. As a lessee, we include operating leases in Operating lease right-of-use assets and Operating lease liabilities in our consolidated condensed 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. Operating lease right-of-use assets and liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease. Options are included when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Amendments or modifications to lease terms are accounted for as variable lease payments. Leases with a lease term of 12 months or less are accounted for using the practical expedient which allows for straight-line rent expense over the remaining term of the lease.
SEGMENT REPORTING	SEGMENT REPORTING — As of December 30, 2023, the Company owned and operated 17 restaurants and bars, 16 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and services, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating components into a single operating segment in accordance with applicable accounting guidance.
RECENTLY ADOPTED ACCOUNTING PRINCIPLES and RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	RECENTLY ADOPTED ACCOUNTING PRINCIPLES — On October 1, 2023, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments , issued by the Financial Accounting Standards Board (“FASB”) and its related amendments using the prospective method. The new standard changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments, including credit card receivables and receivables from hotel operators where the Company has a location, from an incurred loss model to an expected loss model and adds certain new required disclosures. Under the expected loss model, entities recognize credit losses to be incurred over the entire contractual term of the instrument rather than delaying recognition of credit losses until it is probable the loss has been incurred. In accordance with this guidance, the Company evaluates certain criteria, including aging and historical write-offs, current economic conditions of specific customers and future economic conditions to determine the appropriate allowance for credit losses. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS — In December 2023, the FASB issued ASU No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which enhances transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid and to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, which is for fiscal year 2026 and interim periods beginning in the first quarter of fiscal 2027, with early adoption permitted. The amendments may be applied prospectively or retrospectively with early adoption permitted. We are currently assessing the impact of the requirements on our consolidated financial statements and disclosures. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative . The ASU incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As we are currently subject to these SEC requirements, this ASU is not expected to have a material impact on our consolidated financial statements or related disclosures.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
VARIABLE INTEREST ENTITIES (Tables)	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	Following are the assets and liabilities of the Company’s consolidated VIEs: December 30, September 30, (in thousands) Cash and cash equivalents $ 419 $ 564 Accounts receivable 223 169 Inventories 49 47 Prepaid and refundable income taxes 15 204 Prepaid expenses and other current assets 17 31 Due from Ark Restaurants Corp. and affiliates (1) 219 58 Fixed assets - net 204 216 Operating lease right-of-use assets - net 1,723 1,796 Other assets 11 11 Total assets $ 2,880 $ 3,096 Accounts payable - trade $ 136 $ 93 Accrued expenses and other current liabilities 265 331 Current portion of operating lease liabilities 304 298 Operating lease liabilities, less current portion 1,546 1,623 Total liabilities 2,251 2,345 Equity of variable interest entities 629 751 Total liabilities and equity $ 2,880 $ 3,096 (1) Amounts Due from and to Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	Dec. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: December 30, September 30, (In thousands) Sales tax payable $ 1,302 $ 765 Accrued wages and payroll related costs 4,140 4,487 Customer advance deposits 3,418 5,962 Accrued occupancy and other operating expenses 2,906 2,615 $ 11,766 $ 13,829

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Dec. 30, 2023
Leases [Abstract]
Lease Cost	The components of lease expense in the consolidated condensed statements of income are as follows: 13 Weeks Ended December 30, December 31, (In thousands) Operating lease expense - occupancy expenses (1) $ 3,454 $ 3,528 Occupancy lease expense - general and administrative expenses 122 114 Variable lease expense - occupancy expenses 1,377 1,357 Total lease expense $ 4,953 $ 4,999 _________________________________ (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases: 13 Weeks Ended December 30, December 31, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 4,898 $ — $ 5,171 The weighted average remaining lease terms and discount rates as of December 30, 2023 are as follows: Weighted Average Weighted Average Operating leases 11.8 years 6.2 %
Annual Maturities of Lease Liabilities	The annual maturities of our lease liabilities as of December 30, 2023 are as follows: Operating Fiscal Year Ending (In thousands) September 28, 2024 $ 10,450 September 27, 2025 12,881 October 3, 2026 12,143 October 2, 2027 11,960 September 30, 2028 12,057 Thereafter 79,284 Total future lease commitments 138,775 Less imputed interest (40,502) Present value of lease liabilities $ 98,273

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	3 Months Ended
NOTES PAYABLE (Tables)	Dec. 30, 2023
Notes Payable [Abstract]
Schedule of Debt	Notes payable consist of the following: December 30, September 30, (In thousands) Promissory Note - Rustic Inn purchase $ 2,830 $ 2,902 Promissory Note - JB's on the Beach purchase 2,500 2,750 Promissory Note - Sequoia renovation 1,143 1,257 Promissory Note - Blue Moon Fish Company 269 313 6,742 7,222 Less: Current maturities (2,011) (1,987) Less: Unamortized deferred financing costs (82) (95) Long-term portion $ 4,649 $ 5,140

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	3 Months Ended
STOCK OPTIONS (Tables)	Dec. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Option Activity	A summary of stock option activity is presented below: 2024 Shares Weighted Weighted Aggregate Outstanding, beginning of period 471,250 $19.57 5.2 years Options: Granted — Exercised — Canceled or expired — Outstanding and expected to vest, 471,250 $19.57 5.0 years $ 308,000 Exercisable, end of period 310,125 $20.21 4.1 years $ 154,000 Shares available for future grant 477,500

INCOME PER SHARE OF COMMON ST_2

INCOME PER SHARE OF COMMON STOCK (Tables)	3 Months Ended
INCOME PER SHARE OF COMMON STOCK (Tables)	Dec. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of shares used in calculating earnings per basic and diluted share follows (amounts in thousands): 13 Weeks Ended December 30, December 31, Basic 3,604 3,600 Effect of dilutive securities: Stock options 27 48 Diluted 3,631 3,648

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		12 Months Ended
	Dec. 30, 2023 USD ($) restaurant	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)
Business And Summary Of Significant Accounting Policies [Line Items]
Impairment charge	$ 0	$ 0
Revenues	47,487,000	47,445,000
Unearned revenue	3,418,000		$ 5,962,000
Gift cards liability	$ 513,000		$ 340,000
Restaurants and Bars
Business And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants \| restaurant	17
Fast Food Concepts and Catering Operations
Business And Summary Of Significant Accounting Policies [Line Items]
Number of restaurants \| restaurant	16
Catering Services
Business And Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 6,414,000	$ 5,583,000
Purchases \| Supplier Concentration Risk \| One Vendor
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk	11%
One Hotel Operator \| Accounts Receivable \| Customer Concentration Risk
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk	50%
Two Hotel Operator \| Accounts Receivable \| Customer Concentration Risk
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk			52%

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Thousands	Dec. 30, 2023 USD ($) entity	Sep. 30, 2023 USD ($)
Variable Interest Entity [Line Items]
Number of VIEs with primary benefits \| entity	3
Liabilities	$ 121,272	$ 125,234
Assets	173,550	176,956
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Liabilities	2,251	2,345
Assets	$ 2,880	$ 3,096

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of variable interest entities (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 30, 2023	Dec. 31, 2022	Oct. 01, 2022
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 12,122	$ 13,415
Accounts receivable	4,632	3,313
Inventories	2,972	3,093
Prepaid and refundable income taxes	106	212
Prepaid expenses and other current assets	1,262	1,569
Fixed assets - net	33,523	34,314
Operating lease right-of-use assets - net	94,416	96,459
Other assets	2,161	2,161
Total assets	173,550	176,956
Accounts payable - trade	4,573	4,058
Accrued expenses and other current liabilities	11,766	13,829
Current portion of operating lease liabilities	8,129	7,988
Operating lease liabilities, less current portion	90,144	92,232
TOTAL LIABILITIES	121,272	125,234
Equity of variable interest entities	52,278	51,722	$ 61,649	$ 60,118
TOTAL LIABILITIES AND EQUITY	173,550	176,956
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	419	564
Accounts receivable	223	169
Inventories	49	47
Prepaid and refundable income taxes	15	204
Prepaid expenses and other current assets	17	31
Fixed assets - net	204	216
Operating lease right-of-use assets - net	1,723	1,796
Other assets	11	11
Total assets	2,880	3,096
Accounts payable - trade	136	93
Accrued expenses and other current liabilities	265	331
Current portion of operating lease liabilities	304	298
Operating lease liabilities, less current portion	1,546	1,623
TOTAL LIABILITIES	2,251	2,345
Equity of variable interest entities	629	751
TOTAL LIABILITIES AND EQUITY	2,880	3,096
Variable Interest Entity, Primary Beneficiary \| Related Party
Variable Interest Entity [Line Items]
Due from Ark Restaurants Corp. and affiliates	$ 219	$ 58

RECENT RESTAURANT EXPANSION A_2

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jul. 21, 2022	Jun. 24, 2022
Business Acquisition [Line Items]
Payments for lease improvements	$ 138,775,000
Operating cash flows related to operating leases	$ 4,898,000	$ 5,171,000
Notice to vacate	12 months
America \| New York New York Hotel And Casino Lease
Business Acquisition [Line Items]
Operating cash flows related to operating leases	$ 0
America \| Minimum
Business Acquisition [Line Items]
Payments for lease improvements				$ 4,000,000
Village Eateries \| New York New York Hotel And Casino Lease
Business Acquisition [Line Items]
Operating cash flows related to operating leases	$ 100,000
Village Eateries \| Minimum
Business Acquisition [Line Items]
Payments for lease improvements			$ 3,500,000

INVESTMENT IN AND RECEIVABLE _2

INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended		12 Months Ended
	Apr. 25, 2014	Nov. 19, 2013	Mar. 12, 2013	Feb. 28, 2017	Dec. 30, 2023	Dec. 31, 2022	Oct. 03, 2015	Sep. 30, 2023	Apr. 01, 2023	Oct. 01, 2022
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Distributions					$ 26	$ 0
Related Party \| Ark Meadowlands LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Due from Ark Restaurants Corp. and affiliates					25			$ 11
New Meadowlands Racetrack LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Payments to acquire businesses			$ 4,200
Ownership percentage (in percent)									7.40%	7.40%
Payments to acquire additional interest in subsidiaries		$ 464		$ 222			$ 222
Long-term investments				$ 5,108
Distributions					26
Meadowlands Newmark LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage (in percent)		11.60%	63.70%
Loans to related party	$ 1,500
Interest rate (in percent)	3%
Principal and accrued interest					$ 1,410			$ 1,399
Ark Meadowlands LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage by parent (in percent)					97%
Profit participation percentage (in percent)					5%

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 30, 2023
Payables and Accruals [Abstract]
Sales tax payable	$ 1,302	$ 765
Accrued wages and payroll related costs	4,140	4,487
Customer advance deposits	3,418	5,962
Accrued occupancy and other operating expenses	2,906	2,615
Accrued expenses and other current liabilities	$ 11,766	$ 13,829

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Dec. 30, 2023
Minimum
Lessor, Lease, Description [Line Items]
Lease term	10 years
Maximum
Lessor, Lease, Description [Line Items]
Lease term	25 years

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease expense - occupancy expenses	$ 3,454	$ 3,528
Occupancy lease expense - general and administrative expenses	122	114
Variable lease expense - occupancy expenses	1,377	1,357
Total lease expense	$ 4,953	$ 4,999

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows related to operating leases	$ 4,898	$ 5,171

LEASES - Weighted Average Lease

LEASES - Weighted Average Lease Terms (Details)	Dec. 30, 2023
Leases [Abstract]
Operating lease, weighted average remaining lease term (in years)	11 years 9 months 18 days
Operating lease, weighted average discount rate (in percent)	6.20%

LEASES - Annual Maturities of L

LEASES - Annual Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 30, 2023 USD ($)
Leases [Abstract]
September 28, 2024	$ 10,450
September 27, 2025	12,881
October 3, 2026	12,143
October 2, 2027	11,960
September 30, 2028	12,057
Thereafter	79,284
Total future lease commitments	138,775
Less imputed interest	(40,502)
Present value of lease liabilities	$ 98,273

NOTES PAYABLE - Schedule of Lon

NOTES PAYABLE - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 30, 2023
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	$ 6,742	$ 7,222
Less: Current maturities	(2,011)	(1,987)
Less: Unamortized deferred financing costs	(82)	(95)
Long-term portion	4,649	5,140
The Rustic Inn
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	2,830	2,902
JB's on the Beach
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	2,500	2,750
Sequoia Renovation
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	1,143	1,257
Blue Moon
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	$ 269	$ 313

NOTES PAYABLE - Narrative (Deta

NOTES PAYABLE - Narrative (Details)						3 Months Ended
NOTES PAYABLE - Narrative (Details)	Mar. 30, 2023 USD ($)	Jul. 26, 2021 USD ($)	Dec. 01, 2020 USD ($)	May 15, 2019 USD ($) installment	Jun. 01, 2018 USD ($) installment	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Apr. 03, 2021 USD ($)	Sep. 30, 2023 USD ($)	Oct. 03, 2020 USD ($)
NOTES PAYABLE - BANK (Details) [Line Items]
Repayment of notes						$ 0	$ 531,000
Notes payable						6,742,000			$ 7,222,000
Forgiven loans under paycheck protection program						285,000	272,000
PPP loans, interest forgiven						6,000	6,000
Deferred financing costs incurred						304,000
Amortization						13,000	$ 12,000
The Rustic Inn
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable						2,830,000			2,902,000
JB's on the Beach
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable						2,500,000			2,750,000
Sequoia Renovation
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable						1,143,000			$ 1,257,000
Paycheck Protection Program Loan
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate								1%
Paycheck protection program loan						$ 0				$ 14,995,000
Paycheck Protection Program Loan \| Variable Interest Entity, Primary Beneficiary
NOTES PAYABLE - BANK (Details) [Line Items]
Paycheck protection program loan								$ 111,000
Prior Credit Agreement
NOTES PAYABLE - BANK (Details) [Line Items]
Repayment of notes	$ 6,666,000
Promissory Note - Blue Moon Fish Company \| Blue Moon Fish Company \| Notes Payable, Other Payables
NOTES PAYABLE - BANK (Details) [Line Items]
Weighted average interest rate			5%
Debt instrument, term			4 years
Face amount			$ 1,000,000
Periodic payment			$ 23,029
Bank Hapoalim B.M. \| Credit Agreement \| Line of Credit
NOTES PAYABLE - BANK (Details) [Line Items]
Maximum borrowing capacity	$ 10,000,000
Revolving Credit Facility \| Credit Agreement \| Line of Credit
NOTES PAYABLE - BANK (Details) [Line Items]
Annum fee for unused portion	0.30%
Weighted average interest rate						9%
Revolving Credit Facility \| Bank Hapoalim B.M.
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate		3.65%
Periodic payment		$ 500,000
Balloon payment to be paid		2,166,000
Credit facility		$ 9,666,000
Revolving Credit Facility \| Bank Hapoalim B.M. \| JB's on the Beach
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate				3.65%
Number of installments \| installment				23
Periodic payment				$ 250,000
Balloon payment to be paid				1,250,000
Notes payable				$ 7,000,000
Revolving Credit Facility \| Bank Hapoalim B.M. \| Sequoia Renovation
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate				3.65%
Number of installments \| installment				23
Periodic payment				$ 114,286
Balloon payment to be paid				571,429
Notes payable				$ 3,200,000
Revolving Credit Facility \| Bank Hapoalim B.M. \| Credit Agreement \| Line of Credit
NOTES PAYABLE - BANK (Details) [Line Items]
Maximum borrowing capacity	$ 1,000,000
Basis spread on variable rate	3.65%
Revolving Credit Facility \| Bank Hapoalim B.M. \| Credit Agreement \| Line of Credit \| Prime Rate
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate	0.45%
Revolving Credit Facility \| Amendment \| Bank Hapoalim B.M. \| The Rustic Inn
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate					3.65%
Face amount					$ 4,400,000
Number of installments \| installment					27
Periodic payment					$ 71,333
Balloon payment to be paid					$ 2,474,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 542

STOCK OPTIONS - Narrative (Deta

STOCK OPTIONS - Narrative (Details) $ in Thousands	3 Months Ended
STOCK OPTIONS - Narrative (Details) $ in Thousands	Dec. 30, 2023 USD ($) plan shares	Dec. 31, 2022 USD ($) shares
Stock Options (Details) [Line Items]
Number of stock option plans \| plan	2
Options authorized (in shares) \| shares	477,500
Granted (in shares) \| shares	0
Compensation paid \| $	$ 1,000
Share-based compensation expense \| $	77	$ 79
Unrecognized compensation \| $	$ 151
Unrecognized compensation, period for recognition (in years)	3 years 2 months 12 days
Employee Stock Option
Stock Options (Details) [Line Items]
Granted (in shares) \| shares	0	0
Stock Option 2016 Plan
Stock Options (Details) [Line Items]
Expiration period (in years)	10 years

STOCK OPTIONS (Details) - Sched

STOCK OPTIONS (Details) - Schedule of stock options, activity - USD ($)	3 Months Ended	12 Months Ended
	Dec. 30, 2023	Sep. 30, 2023
Shares
Outstanding, beginning of period (in shares)	471,250
Granted (in shares)	0
Exercised (in shares)	0
Canceled or expired (in shares)	0
Outstanding and expected to vest, end of period (in shares)	471,250	471,250
Exercisable, end of period (in shares)	310,125
Shares available for future grant (in shares)	477,500
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 19.57
Exercised (in dollars per share)
Canceled or expired (in dollars per share)
Outstanding and expected to vest, end of period (in dollars per share)	19.57	$ 19.57
Exercisable, end of period (in dollars per share)	$ 20.21
Weighted Average Contractual Term
Weighted average contractual term, outstanding	5 years	5 years 2 months 12 days
Weighted average contractual term, exercisable	4 years 1 month 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding and expected to vest	$ 308,000
Aggregate intrinsic value, exercisable	$ 154,000

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Forgiven loans under paycheck protection program	$ 285	$ 272
Provision for income taxes	$ 158	$ 114
Effective income tax rate (in percent)	9%	5.30%

INCOME PER SHARE OF COMMON ST_3

INCOME PER SHARE OF COMMON STOCK - Schedule of Earnings Per Share, Basic and Diluted (Details) - shares shares in Thousands	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Basic (in shares)	3,604	3,600
Effect of dilutive securities:
Stock options (in shares)	27	48
Diluted (in shares)	3,631	3,648

INCOME PER SHARE OF COMMON ST_4

INCOME PER SHARE OF COMMON STOCK - Narrative (Details) - shares	3 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Shares excluded from computation of earning per share (in shares)	381,250	418,000

DIVIDENDS (Details)

DIVIDENDS (Details) - $ / shares		3 Months Ended
DIVIDENDS (Details) - $ / shares	Nov. 08, 2023	Dec. 30, 2023	Dec. 31, 2022
Dividends [Abstract]
Dividends paid (in USD per share)	$ 0.1875	$ 0.1875	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares			3 Months Ended
SUBSEQUENT EVENTS (Details) - $ / shares	Feb. 06, 2024	Nov. 08, 2023	Dec. 30, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Dividends paid (in USD per share)		$ 0.1875	$ 0.1875	$ 0
Subsequent Event
Subsequent Event [Line Items]
Dividends paid (in USD per share)	$ 0.1875