Weis Markets (WMK) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 30, 2019	May 09, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 30, 2019
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Entity Registrant Name	WEIS MARKETS INC
Trading Symbol	wmk
Entity Central Index Key	0000105418
Current Fiscal Year End Date	--12-28
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		26,898,443

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 30, 2019	Dec. 29, 2018
Current:
Cash and cash equivalents	$ 31,787	$ 37,808
Marketable securities	59,064	54,298
SERP investment	17,401	14,686
Accounts receivable, net	47,951	57,285
Inventories	280,618	280,756
Prepaid expenses and other current assets	23,729	24,289
Total current assets	460,550	469,122
Property and equipment, net	883,270	887,608
Operating lease right-to-use	193,834	0
Goodwill	52,330	52,330
Intangible and other assets, net	17,817	22,951
Total assets	1,607,801	1,432,011
Current:
Accounts payable	177,453	191,099
Accrued expenses	28,091	45,354
Operating leases	37,480	0
Accrued self-insurance	15,406	15,516
Deferred revenue, net	5,898	7,961
Income taxes payable	12,836	7,283
Total current liabilities	277,164	267,213
Postretirement benefit obligations	19,983	18,110
Accrued self-insurance	17,791	17,795
Operating leases	165,357	0
Deferred income taxes	90,022	90,793
Other	7,999	15,201
Total liabilities	578,316	409,112
Shareholders' Equity
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 26,898,443 shares outstanding	9,949	9,949
Retained earnings	1,169,510	1,163,545
Accumulated other comprehensive income (Net of deferred taxes of $353 in 2019 and $110 in 2018)	883	262
Shareholders' equity before treasury stock	1,180,342	1,173,756
Treasury stock at cost, 6,149,364 shares	(150,857)	(150,857)
Total shareholders' equity	1,029,485	1,022,899
Total liabilities and shareholders' equity	$ 1,607,801	$ 1,432,011

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 30, 2019	Dec. 29, 2018
Consolidated Balance Sheets [Abstract]
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	100,800,000	100,800,000
Common stock, shares issued	33,047,807	33,047,807
Common stock, shares outstanding	26,898,443	26,898,443
Accumulated other comprehensive income, deferred taxes	$ 353	$ 110
Treasury stock, shares	6,149,364	6,149,364

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Consolidated Statements of Income [Abstract]
Net sales	$ 876,718	$ 876,106
Cost of sales, including advertising, warehousing and distribution expenses	647,166	641,199
Gross profit on sales	229,552	234,907
Operating, general and administrative expenses	213,573	212,068
Income from operations	15,979	22,839
Investment income and interest expense	2,895	(532)
Income before provision for income taxes	18,874	22,307
Provision for income taxes	4,570	6,116
Net income	$ 14,304	$ 16,191
Weighted-average shares outstanding, basic and diluted	26,898,443	26,898,443
Cash dividends per share	$ 0.31	$ 0.30
Basic and diluted earnings per share	$ 0.53	$ 0.60

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 14,304	$ 16,191
Available-for-sale marketable securities
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $243 and ($158), respectively for the thirteen Weeks Ended)	621	(403)
Reclassification adjustment for losses included in net income (Net of deferred taxes of $0 and $15, respectively for the thirteen Weeks Ended)		39
Other comprehensive income gain (loss), net of tax	621	(364)
Comprehensive income, net of tax	$ 14,925	$ 15,827

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Consolidated Statements of Comprehensive Income [Abstract]
Unrealized holding gains (loss) arising during period, deferred taxes	$ 243	$ (158)
Reclassification adjustment for (gains) losses included in net income, deferred taxes	$ 0	$ 15

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total
Cumulative effect of accounting principle adoption of ASU 2016-01		$ 5,481	$ (5,481)
Balance, at Dec. 30, 2017	$ 9,949	1,127,872	5,880	$ (150,857)	$ 992,844
Balance, shares at Dec. 30, 2017	33,047,807			6,149,364
Net income		16,191			16,191
Other comprehensive income (loss), net of reclassification adjustments and tax			(365)		(365)
Dividends paid		(8,068)			(8,068)
Balance, at Mar. 31, 2018	$ 9,949	1,141,474	34	$ (150,857)	1,000,600
Balance, shares at Mar. 31, 2018	33,047,807			6,149,364
Balance, at Dec. 29, 2018	$ 9,949	1,163,545	262	$ (150,857)	1,022,899
Balance, shares at Dec. 29, 2018	33,047,807			6,149,364
Net income		14,304			14,304
Other comprehensive income (loss), net of reclassification adjustments and tax			621		621
Dividends paid		(8,339)			(8,339)
Balance, at Mar. 30, 2019	$ 9,949	$ 1,169,510	$ 883	$ (150,857)	$ 1,029,485
Balance, shares at Mar. 30, 2019	33,047,807			6,149,364

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 14,304	$ 16,191
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,125	22,763
(Gain) loss on disposition of fixed assets	608	30
Loss on sale of marketable securities	0	54
Unrealized (gain) loss in value of equity securities	(625)	780
Deferred income taxes	(1,014)	(905)
Changes in operating assets and liabilities:
Inventories	138	12,444
Accounts receivable and prepaid expenses	9,894	7,627
Accounts payable and other liabilities	(18,912)	(15,616)
Income taxes	5,553	7,021
Other	588	398
Net cash provided by operating activities	33,659	50,787
Cash flows from investing activities:
Purchase of property and equipment	(24,444)	(21,844)
Proceeds from the sale of property and equipment	84	8
Purchase of marketable securities	(3,960)	(586)
Proceeds from maturities of marketable securities	235	1,000
Proceeds from the sale of marketable securities	0	512
Purchase of intangible assets	(540)	(1,500)
Change in SERP investment	(2,716)	(933)
Net cash used in investing activities	(31,341)	(23,343)
Cash flows from financing activities:
Payments on long-term debt	0	(17,076)
Dividends paid	(8,339)	(8,070)
Net cash used in financing activities	(8,339)	(25,146)
Net increase (decrease) in cash and cash equivalents	(6,021)	2,298
Cash and cash equivalents at beginning of year	37,808	47,917
Cash and cash equivalents at end of period	$ 31,787	$ 50,215

Consolidated Statements Of Ca_2

Consolidated Statements Of Cash Flows (Parenthetical) - USD ($)	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Consolidated Statements of Cash Flows [Abstract]
Income taxes paid	$ 51,000	$ 0
Interest paid	$ 36,000	$ 180,000

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 30, 2019
Significant Accounting Policies [Abstract]
Significant Accounting Policies	(1) Significant Accounting Policies Basis of Presentation: The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring deferrals and accruals) considered necessary for a fair presentation have been included. The operating results for the periods presented are not necessarily indicative of the results to be expected for the full year. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements and there were no material subsequent events which require additional disclosure. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company's latest Annual Report on Form 10-K.

Current Relevant Accounting Sta

Current Relevant Accounting Standards	3 Months Ended
	Mar. 30, 2019
Current Relevant Accounting Standards [Abstract]
Current Relevant Accounting Standards	(2) Current Relevant Accounting Standards T he Company adopted A SU 2016-02 Leases (Topic 842) effective December 30, 2018. The ASU re quires lessees to recognize assets and liabilities for the rights and obligations created by their leases with lease terms more than 12 months. During 2018, the ASU was amended to permit the election of transitional provisions, including the elimination of the requirement to restate reporting periods prior to the date of adoption. The Company has adopted the standard using transitional provisions and has elected practical expedients to not reassess the original conclusions reached regarding lease identification, lease classification and initial direct costs. The adoption ha d a significant impact on the Company’s Consolidated Balance S heets, resulting in $202 million and $211 million of the operating lease right-to-use assets and lease liabilities, respectively . There are no significant changes to the Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows . See Note 7 for additional disclosures on the adoption.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 30, 2019
Marketable Securities [Abstract]
Marketable Securities	(3) Marketable Securities The Company’s marketable securities are all classified as available-for-sale within “Current Assets” in the Company’s Consolidated Balance Sheets. FASB has established three levels of inputs that may be used to measure fair value: Level 1 Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2 Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and Level 3 Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company’s marketable securities valued using Level 1 inputs include highly liquid equity securities, for which quoted market prices are available . The Company’s municipal bond portfolio is valued using Level 2 inputs. The Company’s municipal bonds are valued using a combination of pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models utilizing observable inputs, which are considered Level 2 inputs.  For Level 2 investment valuation, the Company utilizes standard pricing procedures of its investment advisory firm which includes various third party pricing services. These procedures also require specific price monitoring practices as well as pricing review reports, valuation oversight and pricing challenge procedures to maintain the most accurate representation of investment fair market value.  The Company accrues interest on its bond portfolio throughout the life of each bond held. Dividends from the equity securities are recognized as received. Interest, dividends and unrealized gains and losses on equity securities are recognized in “Investment income and interest expense” on the Company’s Consolidated Statements of Income. The Company recognized investment income of $2.9 million in the first quarter of 2019, which included an unrealized gain in equity securities of $625 thousand. Investment loss of $365 thousand was recognized in the first quarter of 2018, which included a $780 thousand unrealized loss in equity securities.   (3) Marketable Securities (continued)   Marketable securities, as of March 30, 2019 and December 29, 2018 , consisted of:    Gross Gross  (dollars in thousands) Amortized Unrealized Unrealized Fair  March 30, 2019 Cost Holding Gains Holding Losses Value  Available-for-sale:  Level 1  Equity securities $ 1,198 $ 6,653 $ - $ 7,851  Level 2  Municipal bonds 49,976 1,247 (10) 51,213  $ 51,174 $ 7,900 $ (10) $ 59,064      Gross Gross  (dollars in thousands) Amortized Unrealized Unrealized Fair  December 29, 2018 Cost Holding Gains Holding Losses Value  Available-for-sale:  Level 1  Equity securities $ 1,198 $ 6,028 $ - $ 7,226  Level 2  Municipal bonds 46,699 426 (53) 47,072  $ 47,897 $ 6,454 $ (53) $ 54,298  Maturities of marketable securities classified as available-for-sale at March 30, 2019 , were as follows:   Amortized Fair  (dollars in thousands) Cost Value  Available-for-sale:  Due within one year $ 6,485 $ 6,492  Due after one year through five years 22,342 22,756  Due after five years through ten years 20,151 20,963  Due after ten years 998 1,002  Equity securities 1,198 7,851  $ 51,174 $ 59,064  SERP Investments The Company also maintains a non-qualified supplemental executive retirement plan for certain of its associates which allows them to defer income to future periods. Participants in the plans earn a return on their deferrals based on mutual fund investments. The Company chooses to invest in the underlying mutual fund investments to offset the liability associated with the non-qualified deferred compensation plans. Such investments are reported on the Company’s Consolidated Balance Sheets as “SERP investment,” are classified as trading securities and are measured at fair value using Level 1 inputs with gains and losses included in “Investment income and interest expense” on the Company’s Consolidated Statements of Income. The changes in the underlying liability to the associates are recorded in “Operating, general and administrative expenses.” 

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 30, 2019
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	(4) Accumulated Other Comprehensive Income All balances in accumulated other comprehensive income are related to available-for-sale marketable securities. The following table sets forth the balance of the Company’s accumulated other comprehensive income, net of tax.    Unrealized Gains  on Available-for-Sale  (dollars in thousands) Marketable Securities  Accumulated other comprehensive income balance as of December 29, 2018 $ 262   Other comprehensive income before reclassifications 621  Amounts reclassified from accumulated other comprehensive income -  Net current period change in other comprehensive income 621  Accumulated other comprehensive income balance as of March 30, 2019 $ 883  The following table sets forth the effects on net income of the amounts reclassified out of accumulated other comprehensive income for the periods ended March 30, 2019 and March 31, 2018 .    Amounts Reclassified from  Accumulated Other Comprehensive Income to the  Consolidated Statements of Income  13 Weeks Ended  (dollars in thousands) Location March 30, 2019 March 31, 2018  Unrealized gains (losses) on available-for-sale marketable securities  Investment income and interest expense $ - $ 54  Provision for income taxes - (15)  Total amount reclassified, net of tax $ - $ 39 

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 30, 2019
Long-Term Debt [Abstract]
Long-Term Debt	(5) Long-Term Debt On September 1, 2016 Weis Markets entered into a revolving credit agreement with Wells Fargo Bank, National Association (the “Credit Agreement”). The Credit Agreement provides for an unsecured revolving credit facility with an aggregate pr incipal amount not to exceed $50.0 million with an additional discretionary amount available of $50.0 million. As of March 30, 2019, the availability under the revolving credit agreement was $88.6 million, net of $11.4 million letters of credit. The revolving credit agreement matures on September 1, 2019 . The letters of credit are maintained primarily to support performance, payment, deposit or surety obligations of the Company.  Interest expense related to long-term debt was $18 thousand and $167 thousand in the thirteen weeks ended March 30, 2019 and March 31, 2018, respectively.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 30, 2019
Revenue Recognition [Abstract]
Revenue Recognition	(6) Revenue Recognition The Chief Operating Officer, the Company’s chief operating decision maker, analyzes store operational revenues by geographical area but each area offers customers similar product, has similar distribution methods, and is supported by centralized management processes. The Company’s operations are reported as a single reportable segment.  The following table represents net sales by type of product for the thirteen-week period ending March 30, 2019 and March 31, 2018 :     13 Weeks Ended  ( dollars in thousands ) March 30, 2019 March 31, 2018  Grocery $ 766,901 87.5 % $ 768,019 87.7 %  Pharmacy 81,781 9.3 77,940 8.9  Fuel 26,465 3.0 28,645 3.3  Manufacturing 1,571 0.2 1,502 0.1   Total net sales $ 876,718 100.0 % $ 876,106 100.0 %  

Leases

Leases	3 Months Ended
	Mar. 30, 2019
Leases [Abstract]
Leases	(7) Leases  The adoption of ASU 2016-02 Leases (Topic 842) had a significant impact on the Company’s Consolidated Balance Sheets, resulting in operating lease right-to-use assets of $202 million and lease liabilities of $211 million. The difference between the operating lease right-to-use assets and lease liabilities represents prepaid and accrued rents, unfavorable lease obligations, favorable lease assets and deferred tenant allowances associated with operating leases as of December 30, 2018 and reclassified against the operating lease right-to-use asset upon adoption.  As of December 30, 2018, the Company leased approximately 53% of its open store facilities under operating leases that expire at various dates through 2033, with the remaining store facilities being owned. These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus variable lease costs related to real estate taxes and insurance as well as contingent rentals based on a percentage of annual sales or increases periodically based on inflation. These variable lease costs are not included in the measurement of the operating lease right-to-use assets or lease liabilities and are charged to the related expense category included in “Operating, general and administrative expenses.” Most of the leases contain multiple renewal options, under which the Company may extend the lease terms from 5 to 20 years. Additionally, the Company has operating leases for certain transportation and other equipment.  The Company leases or subleases space to tenants in owned, vacated and open store facilities. Rental income is recorded when earned as a component of “Operating, general and administrative expenses.”  The following is a schedule of the lease costs included in “Operating, general and administrative expenses” for the thirteen weeks ended March 30, 2019.    (dollars in thousands) March 30, 2019  Operating lease cost 11,641  Variable lease cost 2,643  Lease or sublease income (1,874)  Net lease cost $ 12,410   (7) Leases (continued)  The following is a schedule by years of the future minimum rental payments required under operating leases and total minimum sublease and lease rental income to be received as of March 30, 2019, inclusive of 12 months from March 31st.     (dollars in thousands) Leases Subleases  2019 $ 45,743 (3,730)  2020 42,450 (3,470)  2021 35,259 (2,918)  2022 28,431 (2,465)  2023 24,601 (1,950)  Thereafter 69,582 (7,785)  Total Lease Payments $ 246,066 (22,318)  Less: Interest 43,229 -  Present value of lease liabilities 202,837 (22,318)     The following is a schedule of weighted-average remaining lease terms and weighted-average discount rates as of March 30, 2019 and December 30, 2018.     Lease Term and Discount Rate March 30, 2019 December 30, 2018  Weighted-average remaining lease term 4.45 4.69  Weighted-average discount rate 4.04% 3.84% 

Significant Accounting Polici_2

Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 30, 2019
Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring deferrals and accruals) considered necessary for a fair presentation have been included. The operating results for the periods presented are not necessarily indicative of the results to be expected for the full year. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements and there were no material subsequent events which require additional disclosure. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in the Company's latest Annual Report on Form 10-K.

Current Relevant Accounting S_2

Current Relevant Accounting Standards (Policy)	3 Months Ended
	Mar. 30, 2019
Current Relevant Accounting Standards [Abstract]
Current Relevant Accounting Standards	T he Company adopted A SU 2016-02 Leases (Topic 842) effective December 30, 2018. The ASU re quires lessees to recognize assets and liabilities for the rights and obligations created by their leases with lease terms more than 12 months. During 2018, the ASU was amended to permit the election of transitional provisions, including the elimination of the requirement to restate reporting periods prior to the date of adoption. The Company has adopted the standard using transitional provisions and has elected practical expedients to not reassess the original conclusions reached regarding lease identification, lease classification and initial direct costs. The adoption ha d a significant impact on the Company’s Consolidated Balance S heets, resulting in $202 million and $211 million of the operating lease right-to-use assets and lease liabilities, respectively . There are no significant changes to the Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows . See Note 7 for additional disclosures on the adoption.

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 30, 2019
Marketable Securities [Abstract]
Schedule Of Marketable Securities	Marketable securities, as of March 30, 2019 and December 29, 2018 , consisted of:    Gross Gross  (dollars in thousands) Amortized Unrealized Unrealized Fair  March 30, 2019 Cost Holding Gains Holding Losses Value  Available-for-sale:  Level 1  Equity securities $ 1,198 $ 6,653 $ - $ 7,851  Level 2  Municipal bonds 49,976 1,247 (10) 51,213  $ 51,174 $ 7,900 $ (10) $ 59,064      Gross Gross  (dollars in thousands) Amortized Unrealized Unrealized Fair  December 29, 2018 Cost Holding Gains Holding Losses Value  Available-for-sale:  Level 1  Equity securities $ 1,198 $ 6,028 $ - $ 7,226  Level 2  Municipal bonds 46,699 426 (53) 47,072  $ 47,897 $ 6,454 $ (53) $ 54,298 
Schedule Of Maturities Of Marketable Securities	Maturities of marketable securities classified as available-for-sale at March 30, 2019 , were as follows:   Amortized Fair  (dollars in thousands) Cost Value  Available-for-sale:  Due within one year $ 6,485 $ 6,492  Due after one year through five years 22,342 22,756  Due after five years through ten years 20,151 20,963  Due after ten years 998 1,002  Equity securities 1,198 7,851  $ 51,174 $ 59,064 

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 30, 2019
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income	   Unrealized Gains  on Available-for-Sale  (dollars in thousands) Marketable Securities  Accumulated other comprehensive income balance as of December 29, 2018 $ 262   Other comprehensive income before reclassifications 621  Amounts reclassified from accumulated other comprehensive income -  Net current period change in other comprehensive income 621  Accumulated other comprehensive income balance as of March 30, 2019 $ 883 
Schedule Of Reclassifications out of Accumulated Other Comprehensive Income	   Amounts Reclassified from  Accumulated Other Comprehensive Income to the  Consolidated Statements of Income  13 Weeks Ended  (dollars in thousands) Location March 30, 2019 March 31, 2018  Unrealized gains (losses) on available-for-sale marketable securities  Investment income and interest expense $ - $ 54  Provision for income taxes - (15)  Total amount reclassified, net of tax $ - $ 39 

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 30, 2019
Revenue Recognition [Abstract]
Schedule Of Sales By Type Of Product	    13 Weeks Ended  ( dollars in thousands ) March 30, 2019 March 31, 2018  Grocery $ 766,901 87.5 % $ 768,019 87.7 %  Pharmacy 81,781 9.3 77,940 8.9  Fuel 26,465 3.0 28,645 3.3  Manufacturing 1,571 0.2 1,502 0.1   Total net sales $ 876,718 100.0 % $ 876,106 100.0 %   

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 30, 2019
Leases [Abstract]
Schedule Of Lease Costs	  (dollars in thousands) March 30, 2019  Operating lease cost 11,641  Variable lease cost 2,643  Lease or sublease income (1,874)  Net lease cost $ 12,410 
Schedule Of Future Minimum Rental Payments	  (dollars in thousands) Leases Subleases  2019 $ 45,743 (3,730)  2020 42,450 (3,470)  2021 35,259 (2,918)  2022 28,431 (2,465)  2023 24,601 (1,950)  Thereafter 69,582 (7,785)  Total Lease Payments $ 246,066 (22,318)  Less: Interest 43,229 -  Present value of lease liabilities 202,837 (22,318) 
Schedule Of Operating Lease Information	  Lease Term and Discount Rate March 30, 2019 December 30, 2018  Weighted-average remaining lease term 4.45 4.69  Weighted-average discount rate 4.04% 3.84% 

Current Relevant Accounting S_3

Current Relevant Accounting Standards (Narrative) (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Dec. 29, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-to-use	$ 193,834	$ 0
Operating lease liability	202,837
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-to-use	202,000
Operating lease liability	$ 211,000

Marketable Securities (Narrativ

Marketable Securities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Marketable Securities [Abstract]
Investment income (loss)	$ 2,900	$ (365)
Unrealized gain (loss) on equity investments	$ 625	$ (780)

Marketable Securities (Schedule

Marketable Securities (Schedule Of Marketable Securities) (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Dec. 29, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 51,174	$ 47,897
Gross Unrealized Holding Gains	7,900	6,454
Gross Unrealized Holding Losses	(10)	(53)
Fair Value	59,064	54,298
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,198	1,198
Gross Unrealized Holding Gains	6,653	6,028
Gross Unrealized Holding Losses	0	0
Fair Value	7,851	7,226
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	49,976	46,699
Gross Unrealized Holding Gains	1,247	426
Gross Unrealized Holding Losses	(10)	(53)
Fair Value	$ 51,213	$ 47,072

Marketable Securities (Schedu_2

Marketable Securities (Schedule Of Maturities of Marketable Securities) (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Dec. 29, 2018
Marketable Securities [Abstract]
Amortized Cost, Due within one year	$ 6,485
Fair Value, Due within one year	6,492
Amortized Cost, Due after one year through five years	22,342
Fair Value, Due after one year through five years	22,756
Amortized Cost, Due after five years through ten years	20,151
Fair Value, Due after five years through ten years	20,963
Amortized Cost, Due after ten years	998
Fair Value, Due after ten years	1,002
Amortized Cost, Equity securities	1,198
Fair Value, Equity securities	7,851
Amortized Cost	51,174	$ 47,897
Fair Value	$ 59,064	$ 54,298

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - Unrealized Gain On Available-For-Sale Marketable Securities [Member] $ in Thousands	3 Months Ended
	Mar. 30, 2019USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income balance, beginning balance	$ 262
Other comprehensive income before reclassifications	621
Amounts reclassified from accumulated other comprehensive income	0
Net current period change in other comprehensive income	621
Accumulated other comprehensive income balance, ending balance	$ 883

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Schedule Of Reclassifications out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income and interest expense	$ 2,895	$ (532)
Provision for income taxes	(4,570)	(6,116)
Net income	14,304	16,191
Unrealized Gain On Available-For-Sale Marketable Securities [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income and interest expense		54
Provision for income taxes		(15)
Net income		$ 39

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	3 Months Ended
	Mar. 30, 2019	Mar. 31, 2018
Line of Credit Facility [Line Items]
Interest Expense, Debt	$ 18,000	$ 167,000
Revolving Credit Facility [Member] | Wells Fargo Bank, N.A. [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	50,000,000
Line of credit facility, discretionary amount available	50,000,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 88,600,000
Debt Instrument, Maturity Date	Sep. 1, 2019
Letters of Credit Outstanding, Amount	$ 11,400,000

Revenue Recognition (Schedule O

Revenue Recognition (Schedule Of Sales By Type Of Product) (Details) $ in Thousands	3 Months Ended
	Mar. 30, 2019USD ($)segment	Mar. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment	1
Total net sales	$ 876,718	$ 876,106
Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration percent	100.00%	100.00%
Grocery [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 766,901	$ 768,019
Grocery [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration percent	87.50%	87.70%
Pharmacy [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 81,781	$ 77,940
Pharmacy [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration percent	9.30%	8.90%
Fuel [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 26,465	$ 28,645
Fuel [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration percent	3.00%	3.30%
Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,571	$ 1,502
Manufacturing [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration percent	0.20%	0.10%

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	Mar. 30, 2019	Dec. 29, 2018
Operating Leased Assets [Line Items]
Operating lease right-to-use	$ 193,834	$ 0
Operating lease liability	$ 202,837
Percentage of facilities under operating lease		53.00%
Maximum [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	20 years
Minimum [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	5 years
Accounting Standards Update 2016-02 [Member]
Operating Leased Assets [Line Items]
Operating lease right-to-use	$ 202,000
Operating lease liability	$ 211,000

Leases (Schedule Of Lease Costs

Leases (Schedule Of Lease Costs) (Details) $ in Thousands	3 Months Ended
	Mar. 30, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 11,641
Variable lease cost	2,643
Lease or sublease income	(1,874)
Net lease cost	$ 12,410

Leases (Schedule Of Future Mini

Leases (Schedule Of Future Minimum Rental Payments) (Details) $ in Thousands	Mar. 30, 2019USD ($)
Leases
2019	$ 45,743
2020	42,450
2021	35,259
2022	28,431
2023	24,601
Thereafter	69,582
Total Lease Payments	246,066
Less: Interest	43,229
Present value of lease liabilities	202,837
Subleases [Abstract]
2019	(3,730)
2020	(3,470)
2021	(2,918)
2022	(2,465)
2023	(1,950)
Thereafter	(7,785)
Total Lease Payments	(22,318)
Present value of lease liabilities	$ (22,318)

Leases (Schedule Of Operating L

Leases (Schedule Of Operating Lease Information) (Details)	Mar. 30, 2019	Dec. 29, 2018
Leases [Abstract]
Weighted-average remaining lease term	4 years 5 months 12 days	4 years 8 months 9 days
Weighted-average discount rate	4.04%	3.84%