Buffalo Wild Wings (BWLD) 10-Q 6 Nov 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 28, 2014	Oct. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'BUFFALO WILD WINGS INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-28	'
Entity Common Stock, Shares Outstanding	'	18,926,231
Amendment Flag	'false	'
Entity Central Index Key	'0001062449	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Well-known Seasoned Issuer	'Yes	'
Document Period End Date	28-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'

Consolidated_Balance_Sheets_un

Consolidated Balance Sheets (unaudited) (USD $)	Sep. 28, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$74,095	$57,502
Marketable securities	26,234	7,584
Accounts receivable, net of allowance of $155 and $25, respectively	25,585	21,845
Inventory	9,975	9,492
Prepaid expenses	11,759	4,509
Refundable income taxes	0	4,329
Deferred income taxes	12,405	9,287
Restricted assets	48,493	68,208
Total current assets	208,546	182,756
Property and equipment, net	471,485	440,538
Reacquired franchise rights, net	32,517	33,403
Other assets	19,960	16,498
Goodwill	34,810	32,533
Total assets	767,318	705,728
Current liabilities:	'	'
Unearned franchise fees	2,241	1,818
Accounts payable	41,404	31,806
Accrued compensation and benefits	41,025	52,049
Accrued expenses	14,949	13,784
Income tax payable	2,429	0
System-wide payables	48,101	67,017
Total current liabilities	150,149	166,474
Long-term liabilities:	'	'
Other liabilities	6,774	1,913
Deferred income taxes	21,820	37,822
Deferred lease credits	37,046	33,711
Total liabilities	215,789	239,920
Commitments and Contingencies	'	'
Stockholders’ equity:	'	'
Common stock, no par value. Authorized 44,000,000 shares; issued and outstanding 18,925,231 and 18,803,663, respectively	145,092	133,203
Retained earnings	407,373	333,601
Accumulated other comprehensive loss	-1,561	-996
Total stockholders’ equity	550,904	465,808
Noncontrolling Interests	625	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	551,529	465,808
Total liabilities and equity	$767,318	$705,728

Consolidated_Balance_Sheets_un1

Consolidated Balance Sheets (unaudited) (Parentheticals) (USD $)	Sep. 28, 2014	Dec. 29, 2013
In Thousands, except Share data, unless otherwise specified
Accounts Receivable, allowance	$155	$25
Undesignated stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, par value (in Dollars per share)	$0	$0
Common stock, shares authorized (in shares)	44,000,000	44,000,000
Common stock, shares issued (in shares)	18,925,231	18,803,663
Common stock, shares outstanding (in shares)	18,925,231	18,803,663

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Revenue:	'	'	'	'
Restaurant sales	$350,524	$295,693	$1,038,610	$865,521
Franchise royalties and fees	22,934	20,108	68,697	59,651
Total revenue	373,458	315,801	1,107,307	925,172
Restaurant operating costs:	'	'	'	'
Cost of sales	101,886	88,689	296,210	268,410
Labor	111,897	89,740	324,663	264,500
Operating	52,364	44,668	151,419	126,985
Occupancy	19,796	17,276	58,048	50,267
Depreciation and amortization	24,776	21,587	71,354	62,814
General and administrative	27,784	24,664	86,163	69,562
Preopening	3,594	2,991	8,369	9,682
Loss on asset disposals and impairment	1,371	902	3,369	1,702
Total costs and expenses	343,468	290,517	999,595	853,922
Income from operations	29,990	25,284	107,712	71,250
Other income (loss)	-236	383	-128	644
Earnings before income taxes	29,754	25,667	107,584	71,894
Income tax expense	8,001	7,796	33,812	21,155
Net earnings	21,753	17,871	73,772	50,739
Net earnings	$21,753	$17,871	$73,772	$50,739
Earnings per common share – basic (in Dollars per share)	$1.15	$0.95	$3.90	$2.70
Earnings per common share – diluted (in Dollars per share)	$1.14	$0.95	$3.89	$2.69
Weighted average shares outstanding – basic (in Shares)	18,922,923	18,778,675	18,899,881	18,764,701
Weighted average shares outstanding – diluted (in Shares)	19,020,690	18,888,546	18,984,884	18,842,194

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net earnings	$21,753	$17,871	$73,772	$50,739
Other comprehensive income	'	'	'	'
Foreign currency translation adjustments	-529	-86	-565	-458
Other comprehensive income (loss), net of tax	-529	-86	-565	-458
Comprehensive income	$21,224	$17,785	$73,207	$50,281

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 28, 2014	Sep. 29, 2013
Statement of Cash Flows [Abstract]	'	'
Net earnings	$73,772	$50,739
Adjustments to reconcile net earnings to net cash provided by operations:	'	'
Depreciation	67,932	59,004
Amortization	3,422	3,810
Loss on asset disposals and impairment	3,369	1,682
Deferred lease credits	4,209	3,852
Deferred income taxes	-18,774	-1,547
Stock-based compensation	10,251	7,290
Excess tax benefit from stock issuance	217	-399
Change in operating assets and liabilities, net of effect of acquisitions:	'	'
Trading securities	-657	-829
Accounts receivable	-3,323	-266
Inventory	-400	-1,039
Prepaid expenses	-7,245	-225
Other assets	-160	-772
Unearned franchise fees	333	465
Accounts payable	4,128	-6,925
Income taxes	6,541	6,271
Accrued expenses	99	1,283
Net cash provided by operating activities	143,714	122,394
Cash flows from investing activities:	'	'
Acquisition of property and equipment	-95,347	-96,552
Acquisition of businesses/investments in affiliates	-7,307	-10,288
Purchase of marketable securities	-17,993	0
Proceeds from marketable securities	0	3,282
Net cash used in investing activities	-120,647	-103,558
Cash flows from financing activities:	'	'
Proceeds from line of credit	0	5,000
Repayments of line of credit	0	-5,000
Issuance of common stock	1,829	1,237
Excess tax benefit from stock issuance	-217	399
Tax payments for restricted stock units	-7,474	-4,813
Net cash used in financing activities	-5,862	-3,177
Effect of exchange rate changes on cash and cash equivalents	-612	-328
Net increase in cash and cash equivalents	16,593	15,331
Cash and cash equivalents at beginning of period	57,502	21,340
Cash and cash equivalents at end of period	$74,095	$36,671

Basis_of_Financial_Statement_P

Basis of Financial Statement Presentation	9 Months Ended
	Sep. 28, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Financial Statement Presentation	'
	Basis of Financial Statement Presentation
	The consolidated financial statements as of September 28, 2014 and December 29, 2013, and for the three-month and nine-month periods ended September 28, 2014 and September 29, 2013 have been prepared by Buffalo Wild Wings, Inc. pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The financial information as of September 28, 2014 and for the three-month and nine-month periods ended September 28, 2014 and September 29, 2013 is unaudited, but, in the opinion of management, reflects all adjustments and accruals necessary for a fair presentation of the financial position, results of operations, and cash flows for the interim periods.
	References in the remainder of this document to “company,” “we,” “us” and “our” refer to the business of Buffalo Wild Wings, Inc. and our subsidiaries.
	The financial information as of December 29, 2013 is derived from our audited consolidated financial statements and notes thereto for the fiscal year ended December 29, 2013, which is included in Item 8 in the Fiscal 2013 Annual Report on Form 10-K and should be read in conjunction with such financial statements.
	The results of operations for the three-month and nine-month periods ended September 28, 2014 are not necessarily indicative of the results of operations that may be achieved for the entire year ending December 28, 2014.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 28, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	(a)	Inventories
	Inventories are stated at the lower of cost or market. Cost is determined by the first-in, first-out (FIFO) method. Cash flows related to inventory sales are classified in net cash provided by operating activities in the Consolidated Statements of Cash Flows.
	We purchase products from a number of suppliers and believe there are alternative suppliers. We have minimum purchase commitments from some of our vendors, but the terms of the contracts and nature of the products are such that our purchase requirements do not create a market risk. One of the primary food products used by our restaurants and our franchised restaurants is chicken wings. Current month chicken wing prices are determined based on the average of the previous month’s wing market plus mark-up for processing and distribution. For the three-month periods ended September 28, 2014 and September 29, 2013, chicken wings were 22.8% and 23.7%, respectively, of restaurant cost of sales. For the nine-month periods ended September 28, 2014 and September 29, 2013, chicken wings were 21.6% and 25.4%, of restaurant cost of sales, respectively.
	(b)	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09 “Revenue with Contracts from Customers.” ASU 2014-09 supersedes the current revenue recognition guidance, including industry-specific guidance. The guidance introduces a five-step model to achieve its core principal of the entity recognizing revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The updated guidance is effective for interim and annual periods beginning after December 15, 2016 and early adoption is not permitted. We are currently evaluating the impact of the updated guidance but we do not believe the adoption of ASU 2014-09 will have a significant impact on our consolidated financial statements.
	We reviewed all other significant newly-issued accounting pronouncements and concluded that they either are not applicable to our operations or that no material effect is expected on our consolidated financial statements as a result of future adoption.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 28, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The guidance for fair value measurements establishes the authoritative definition of fair value, sets out a framework for measuring fair value, and outlines the required disclosures regarding fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use a three-tier fair value hierarchy based upon observable and non-observable inputs as follows:
	•Level 1 – Observable inputs such as quoted prices in active markets;
	•Level 2 – Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
	•Level 3 – Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	The following table summarizes the financial instruments measured at fair value in our consolidated balance sheet as of September 28, 2014:
		Fair Value Measurements
		Level 1		Level 2	Level 3	Total
	Assets
	Cash Equivalents	$	61,599	—	—	61,599
	Marketable Securities	8,238		17,996	—	26,234
	Restricted Assets	1,262		1,765	—	3,027
	The following table summarizes the financial instruments measured at fair value in our consolidated balance sheet as of December 29, 2013:
		Fair Value Measurements
		Level 1		Level 2	Level 3	Total
	Assets
	Cash Equivalents	$	33,587	—	—	33,587
	Marketable Securities	7,584		—	—	7,584
	Restricted Assets	5,823		—	—	5,823
	Our cash equivalents are comprised of money market funds and commercial paper which are valued using the Level 1 and Level 2 approach, respectively. Our marketable securities were classified as trading securities and available-for-sale securities. Our trading securities are comprised of investments held for future needs of our non-qualified deferred compensation plan and were reported at fair market value, using the “market approach” valuation technique. The “market approach” valuation method uses prices and other relevant information observable in market transactions involving identical or comparable assets and is a Level 1 approach. Our available-for-sale securities are comprised of certificates of deposit, commercial paper, and other highly liquid assets and are valued using a Level 2 approach. Our restricted assets include money market mutual funds and variable rate demand obligations and are valued using the Level 1 and Level 2 approach, respectively.
	There were no significant transfers between Level 1 and Level 2 of the fair value hierarchy during the nine-month periods ended September 28, 2014 and September 29, 2013.

Marketable_Securities

Marketable Securities	9 Months Ended
	Sep. 28, 2014
Investments, Debt and Equity Securities [Abstract]	'
Marketable Securities	'
	Marketable Securities
	Marketable securities consisted of the following:
		September 28,		December 29,
		2014		2013
	Available-for-sale	$	17,996	—
	Trading	8,238		7,584
	Total	$	26,234	$	7,584
	Purchases of available-for-sale securities totaled $17,993 and there were no sales for the nine-month period ended September 28, 2014. Sales of available for-sale securities totaled $3,282 and there were no purchases for the nine-month period ended September 29, 2013.

Property_and_Equipment

Property and Equipment	9 Months Ended
	Sep. 28, 2014
Property, Plant and Equipment [Abstract]	'
Property and Equipment	'
	Property and Equipment
	Property and equipment consisted of the following:
		September 28,			December 29,
		2014			2013
	Construction in process	$	32,138		18,792
	Buildings	76,783			72,939
	Furniture, fixtures, and equipment	282,158			254,484
	Leasehold improvements	421,523			380,155
	Property and equipment, gross	812,602			726,370
	Less accumulated depreciation	(341,117		)	(285,832	)
	Property and equipment, net	$	471,485		440,538

Revolving_Credit_Facility

Revolving Credit Facility	9 Months Ended
	Sep. 28, 2014
Debt Disclosure [Abstract]	'
Revolving Credit Facility	'
	Revolving Credit Facility
	We have a $100,000 unsecured revolving credit facility. Loans under the facility bear interest at a rate per annum equal to, at our election, either (i) LIBOR for an interest period of one month, reset daily, plus 0.875%, if our consolidated total leverage ratio is less than or equal to 0.50, or plus 1.125% if our total leverage ratio is greater than or equal to .51, or (ii) LIBOR for an interest period of one, two, three, six or twelve months, reset at the end of the selected interest period, plus 0.875%, if our consolidated total leverage ratio is less than or equal to 0.50, or plus 1.125% if our consolidated total leverage ratio is greater than or equal to .51. As of September 28, 2014, we had no outstanding balance under the facility.
	There is a commitment fee on the average unused portion of the facility at a rate per annum equal to 0.15%, if our consolidated total leverage ratio is less than or equal to 0.50, or 0.20% if our consolidated total leverage ratio is greater than or equal to 0.51.
	The Credit Agreement requires us to maintain (a) consolidated coverage ratio as of the end of each fiscal quarter at no less than 2.50 to 1.00, (b) consolidated total leverage ratio as of the end of each fiscal quarter at no more than 2.00 to 1.00 and (c) minimum EBITDA during any consecutive four-quarter period at no less than $100,000. The Credit Agreement also contains other customary affirmative and negative covenants, including covenants that restrict the right of the Company and its subsidiaries to merge, to lease, sell or otherwise dispose of assets, to make investments and to grant liens on their assets. As of September 28, 2014, we were in compliance with all of these covenants.
	In May 2014, we extended the maturity date of the facility to February 7, 2017.

Stockholders_Equity

Stockholder's Equity	9 Months Ended
	Sep. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stockholder's Equity	'
	Stockholder’s Equity
	(a)	Stock Options
	We have 5.4 million shares of common stock reserved for issuance under our Equity Incentive Plan (Plan) for our employees, officers, and directors. The exercise price for stock options issued under the Plan is to be not less than the fair market value on the date of grant with respect to incentive and nonqualified stock options. Incentive stock options become exercisable in four equal installments from the date of the grant and have a contractual life of seven to ten years. Nonqualified stock options issued pursuant to the Plan have a four-year vesting period and have a contractual life of seven years. Incentive stock options may be granted under this Plan until March 12, 2022. We issue new shares of common stock upon exercise of stock options. Option activity is summarized for the nine months ended September 28, 2014 as follows:
		Number		Weighted		Average remaining contractual life	Aggregate intrinsic value
		of shares		average		(years)
				exercise price
	Outstanding, December 29, 2013	163,609		$	60.67	3.9	$	13,974
	Granted	25,035		147.52
	Exercised	(25,068	)	34.07
	Cancelled	(1,800	)	74.32
	Outstanding, September 28, 2014	161,776		$	78.08	3.9	$	9,572
	Exercisable, September 28, 2014	88,456		55.09		2.8	7,107
	The aggregate intrinsic value in the table above is before applicable income taxes, based on our closing stock price of $135.37 as of the last business day of the three-month period ended September 28, 2014, which would have been received by the optionees had all options been exercised on that date. As of September 28, 2014, total unrecognized stock-based compensation expense related to nonvested stock options was approximately $2,010, which is expected to be recognized over a weighted average period of approximately 2.4 years. During the nine-month periods ended September 28, 2014 and September 29, 2013, the total intrinsic value of stock options exercised was $2,685 and $833, respectively. During the nine-month periods ended September 28, 2014 and September 29, 2013, the weighted average grant date fair value of options granted was $50.23 and $37.09, respectively. No shares vested during the nine-month periods ended September 28, 2014 or September 29, 2013.
	The Plan had 1,170,719 shares available for grant as of September 28, 2014.
	(b)	Restricted Stock Units
	Restricted stock units are granted annually under the Plan at the discretion of the Compensation Committee of our Board of Directors.
	We grant restricted stock units subject to three-year cliff vesting and a cumulative three-year earnings target. The number of units which vest at the end of the three-year period is based on performance against the target. These restricted stock units are subject to forfeiture if they have not vested at the end of the three-year period. Stock-based compensation is recognized for the number of units expected to vest at the end of the period and is expensed beginning on the grant date through the end of the performance period.
	For each grant, restricted stock units meeting the performance criteria will vest as of the end of the third fiscal year in the performance period, subject to a Plan specified maximum number of shares that may be issued to any individual in any year in settlement of restricted stock units. The distribution of vested restricted stock units as common stock typically occurs in March of the following year. The common stock is issued to participants net of the number of shares needed for the required minimum employee withholding taxes. We issue new shares of common stock upon the disbursement of restricted stock units. Restricted stock units are contingently issuable shares, and the activity for the nine months ended September 28, 2014 is as follows:
		Number		Weighted
		of shares		average
				grant date
				fair value
	Outstanding, December 29, 2013	279,120		$	88.57
	Granted	107,175		147.46
	Vested	(3,576	)	142.85
	Cancelled	(15,638	)	97.79
	Outstanding, September 28, 2014	367,081		$	104.84
	As of September 28, 2014, the total stock-based compensation expense related to nonvested awards not yet recognized was $18,626, which is expected to be recognized over a weighted average period of 1.9 years. The weighted average grant date fair value of restricted stock units granted during the nine-month periods ended September 28, 2014 and September 29, 2013 was $147.46 and $87.67, respectively. During the nine-month periods ended September 28, 2014 and September 29, 2013, we recognized $9,005 and $6,133, respectively, of stock-based compensation expense related to restricted stock units.
	(c)	Employee Stock Purchase Plan
	We have reserved 600,000 shares of common stock for issuance under our Employee Stock Purchase Plan (ESPP). The ESPP is available to substantially all employees subject to employment eligibility requirements. Participants may purchase our common stock at 85% of the beginning or ending closing price, whichever is lower, for each six-month period ending in May and November. During the first nine months of 2014 and 2013, we issued 8,037 and 14,505 shares of common stock, respectively, under the ESPP. As of September 28, 2014, we had 213,271 shares available for future issuance under the ESPP.

Earnings_Per_Common_Share

Earnings Per Common Share	9 Months Ended
	Sep. 28, 2014
Earnings Per Share [Abstract]	'
Earnings Per Common Share	'
	Earnings Per Common Share
	The following is a reconciliation of basic and fully diluted earnings per common share for the three-month and nine-month periods ended September 28, 2014 and September 29, 2013:
		Three Months Ended September 28, 2014
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	21,753
	Earnings per common share	21,753			18,922,923		$	1.15
	Effect of dilutive securities – stock options	—			69,800
	Effect of dilutive securities – restricted stock units				27,967
	Earnings per common share – assuming dilution	$	21,753		19,020,690		$	1.14
		Three Months Ended September 29, 2013
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	17,871
	Earnings per common share	17,871			18,778,675		$	0.95
	Effect of dilutive securities – stock options	—			67,385
	Effect of dilutive securities – restricted stock units	—			42,486
	Earnings per common share – assuming dilution	$	17,871		18,888,546		$	0.95
		Nine Months Ended September 28, 2014
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	73,772
	Earnings per common share	73,772			18,899,881		$	3.9
	Effect of dilutive securities – stock options	—			75,681
	Effect of dilutive securities – restricted stock units	—			9,322
	Earnings per common share – assuming dilution	$	73,772		18,984,884		$	3.89
		Nine Months Ended September 29, 2013
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	50,739
	Earnings per common share	50,739			18,764,701		$	2.7
	Effect of dilutive securities – stock options	—			63,331
	Effect of dilutive securities – restricted stock units	—			14,162
	Earnings per common share – assuming dilution	$	50,739		18,842,194		$	2.69
	The following is a summary of those securities outstanding at the end of the respective periods, which have been excluded from the fully diluted calculations because the effect on net earnings per common share would have been antidilutive or were performance-granted shares for which the performance criteria had not yet been met:
		Three months ended				Nine months ended
		September 28,		September 29,		September 28,			September 29,
		2014		2013		2014			2013
	Stock options	25,035		62,977		25,035			64,783
	Restricted stock units	339,114		382,176		357,759			410,500

Supplemental_Disclosures_of_Ca

Supplemental Disclosures of Cash Flow Information	9 Months Ended
	Sep. 28, 2014
Supplemental Cash Flow Elements [Abstract]	'
Supplemental Disclosures of Cash Flow Information	'
	Supplemental Disclosures of Cash Flow Information
		Nine months ended
		September 28,		September 29,
		2014		2013
	Cash paid during the period for:
	Income taxes	$	46,227	16,649
	Noncash financing and investing transactions:
	Property and equipment not yet paid for	5,232		1,571
	Issuance of note payable for investment in subsidiary	2,375		—

Contingencies

Contingencies	9 Months Ended
	Sep. 28, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Contingencies	'
	Contingencies
	We are involved in various legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 28, 2014
Accounting Policies [Abstract]	'
Inventory, Policy	'
	Inventories
	Inventories are stated at the lower of cost or market. Cost is determined by the first-in, first-out (FIFO) method. Cash flows related to inventory sales are classified in net cash provided by operating activities in the Consolidated Statements of Cash Flows.
	We purchase products from a number of suppliers and believe there are alternative suppliers. We have minimum purchase commitments from some of our vendors, but the terms of the contracts and nature of the products are such that our purchase requirements do not create a market risk. One of the primary food products used by our restaurants and our franchised restaurants is chicken wings. Current month chicken wing prices are determined based on the average of the previous month’s wing market plus mark-up for processing and distribution.
New Accounting Pronouncements, Policy	'
	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09 “Revenue with Contracts from Customers.” ASU 2014-09 supersedes the current revenue recognition guidance, including industry-specific guidance. The guidance introduces a five-step model to achieve its core principal of the entity recognizing revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The updated guidance is effective for interim and annual periods beginning after December 15, 2016 and early adoption is not permitted. We are currently evaluating the impact of the updated guidance but we do not believe the adoption of ASU 2014-09 will have a significant impact on our consolidated financial statements.
	We reviewed all other significant newly-issued accounting pronouncements and concluded that they either are not applicable to our operations or that no material effect is expected on our consolidated financial statements as a result of future adoption.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 28, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	'
	The following table summarizes the financial instruments measured at fair value in our consolidated balance sheet as of September 28, 2014:
		Fair Value Measurements
		Level 1		Level 2	Level 3	Total
	Assets
	Cash Equivalents	$	61,599	—	—	61,599
	Marketable Securities	8,238		17,996	—	26,234
	Restricted Assets	1,262		1,765	—	3,027
	The following table summarizes the financial instruments measured at fair value in our consolidated balance sheet as of December 29, 2013:
		Fair Value Measurements
		Level 1		Level 2	Level 3	Total
	Assets
	Cash Equivalents	$	33,587	—	—	33,587
	Marketable Securities	7,584		—	—	7,584
	Restricted Assets	5,823		—	—	5,823

Marketable_Securities_Tables

Marketable Securities (Tables)	9 Months Ended
	Sep. 28, 2014
Investments, Debt and Equity Securities [Abstract]	'
Marketable Securities	'
	Marketable securities consisted of the following:
		September 28,		December 29,
		2014		2013
	Available-for-sale	$	17,996	—
	Trading	8,238		7,584
	Total	$	26,234	$	7,584

Property_and_Equipment_Tables

Property and Equipment (Tables)	9 Months Ended
	Sep. 28, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment	'
	Property and equipment consisted of the following:
		September 28,			December 29,
		2014			2013
	Construction in process	$	32,138		18,792
	Buildings	76,783			72,939
	Furniture, fixtures, and equipment	282,158			254,484
	Leasehold improvements	421,523			380,155
	Property and equipment, gross	812,602			726,370
	Less accumulated depreciation	(341,117		)	(285,832	)
	Property and equipment, net	$	471,485		440,538

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Option Activity	'
	Option activity is summarized for the nine months ended September 28, 2014 as follows:
		Number		Weighted		Average remaining contractual life	Aggregate intrinsic value
		of shares		average		(years)
				exercise price
	Outstanding, December 29, 2013	163,609		$	60.67	3.9	$	13,974
	Granted	25,035		147.52
	Exercised	(25,068	)	34.07
	Cancelled	(1,800	)	74.32
	Outstanding, September 28, 2014	161,776		$	78.08	3.9	$	9,572
	Exercisable, September 28, 2014	88,456		55.09		2.8	7,107
Restricted Stock and Restricted Stock Units Activity	'
	Restricted stock units are contingently issuable shares, and the activity for the nine months ended September 28, 2014 is as follows:
		Number		Weighted
		of shares		average
				grant date
				fair value
	Outstanding, December 29, 2013	279,120		$	88.57
	Granted	107,175		147.46
	Vested	(3,576	)	142.85
	Cancelled	(15,638	)	97.79
	Outstanding, September 28, 2014	367,081		$	104.84

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 28, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted	'
	The following is a reconciliation of basic and fully diluted earnings per common share for the three-month and nine-month periods ended September 28, 2014 and September 29, 2013:
		Three Months Ended September 28, 2014
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	21,753
	Earnings per common share	21,753			18,922,923		$	1.15
	Effect of dilutive securities – stock options	—			69,800
	Effect of dilutive securities – restricted stock units				27,967
	Earnings per common share – assuming dilution	$	21,753		19,020,690		$	1.14
		Three Months Ended September 29, 2013
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	17,871
	Earnings per common share	17,871			18,778,675		$	0.95
	Effect of dilutive securities – stock options	—			67,385
	Effect of dilutive securities – restricted stock units	—			42,486
	Earnings per common share – assuming dilution	$	17,871		18,888,546		$	0.95
		Nine Months Ended September 28, 2014
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	73,772
	Earnings per common share	73,772			18,899,881		$	3.9
	Effect of dilutive securities – stock options	—			75,681
	Effect of dilutive securities – restricted stock units	—			9,322
	Earnings per common share – assuming dilution	$	73,772		18,984,884		$	3.89
		Nine Months Ended September 29, 2013
		Earnings			Shares		Per-share
		(numerator)			(denominator)		amount
	Net earnings	$	50,739
	Earnings per common share	50,739			18,764,701		$	2.7
	Effect of dilutive securities – stock options	—			63,331
	Effect of dilutive securities – restricted stock units	—			14,162
	Earnings per common share – assuming dilution	$	50,739		18,842,194		$	2.69
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
	The following is a summary of those securities outstanding at the end of the respective periods, which have been excluded from the fully diluted calculations because the effect on net earnings per common share would have been antidilutive or were performance-granted shares for which the performance criteria had not yet been met:
		Three months ended				Nine months ended
		September 28,		September 29,		September 28,			September 29,
		2014		2013		2014			2013
	Stock options	25,035		62,977		25,035			64,783
	Restricted stock units	339,114		382,176		357,759			410,500

Supplemental_Disclosures_of_Ca1

Supplemental Disclosures of Cash Flow Information (Tables)	9 Months Ended
	Sep. 28, 2014
Supplemental Cash Flow Elements [Abstract]	'
Schedule of Cash Flow, Supplemental Disclosures	'
		Nine months ended
		September 28,		September 29,
		2014		2013
	Cash paid during the period for:
	Income taxes	$	46,227	16,649
	Noncash financing and investing transactions:
	Property and equipment not yet paid for	5,232		1,571
	Issuance of note payable for investment in subsidiary	2,375		—

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (Chicken Wings)	3 Months Ended		9 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Chicken Wings	'	'	'	'
Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'	'
Percentage of Cost of Sales	22.80%	23.70%	21.60%	25.40%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 28, 2014	Sep. 29, 2013
Fair Value Disclosures [Abstract]	'	'
Level 1 to Level 2 Transfers	$0	$0
Level 2 to Level 1 Transfers	$0	$0

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details) - Fair Value Measurements (USD $)	Sep. 28, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Assets	'	'
Cash Equivalents	$61,599	$33,587
Marketable Securities	26,234	7,584
Restricted Assets	3,027	5,823
Level 1	'	'
Assets	'	'
Cash Equivalents	61,599	33,587
Marketable Securities	8,238	7,584
Restricted Assets	1,262	5,823
Level 2	'	'
Assets	'	'
Cash Equivalents	0	0
Marketable Securities	17,996	0
Restricted Assets	1,765	0
Level 3	'	'
Assets	'	'
Cash Equivalents	0	0
Marketable Securities	0	0
Restricted Assets	$0	$0

Marketable_Securities_Details_

Marketable Securities (Details) - Marketable Securities (USD $)	Sep. 28, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Marketable Securities [Abstract]	'	'
Available-for-sale	$17,996	$0
Trading	8,238	7,584
Total	$26,234	$7,584

Marketable_Securities_Details

Marketable Securities (Details) (USD $)	9 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Investments, Debt and Equity Securities [Abstract]	'	'
Payments to Acquire Available-for-sale Securities	$17,993,000	$0
Proceeds from Sale of Available-for-sale Securities	$0	$3,282,000

Property_and_Equipment_Details

Property and Equipment (Details) - Property and Equipment (USD $)	Sep. 28, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Abstract]	'	'
Construction in process	$32,138	$18,792
Buildings	76,783	72,939
Furniture, fixtures, and equipment	282,158	254,484
Leasehold improvements	421,523	380,155
Property and equipment, gross	812,602	726,370
Less accumulated depreciation	-341,117	-285,832
Property and equipment, net	$471,485	$440,538

Revolving_Credit_Facility_Deta

Revolving Credit Facility (Details) (USD $)

Sep. 28, 2014

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Feb. 28, 2013

Minimum

Maximum

LIBOR Election 1, Leverage Ratio Less than or Equal to .50

LIBOR Election 1, Leverage Ratio Greater than or Equal to .51

LIBOR Election 2, Leverage Ratio Less than or Equal to .50

LIBOR Election 2, Leverage Ratio Greater than or Equal to .51

Maximum Leverage Ratio for 0.15% Commitment Fee

Minimum Leverage Ratio for 0.20% Commitment Fee

Interest Rate Terms

Requirements

Revolving Credit Facility (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)

'

$100,000,000

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Covenant Terms

'

'

'

'

'

'

'

'

'

'

'Loans under the facility bear interest at a rate per annum equal to, at our election, either (i) LIBOR for an interest period of one month, reset daily, plus 0.875%, if our consolidated total leverage ratio is less than or equal to 0.50, or plus 1.125% if our total leverage ratio is greater than or equal to .51, or (ii) LIBOR for an interest period of one, two, three, six or twelve months, reset at the end of the selected interest period, plus 0.875%, if our consolidated total leverage ratio is less than or equal to 0.50, or plus 1.125% if our consolidated total leverage ratio is greater than or equal to .51.

'The Credit Agreement requires us to maintain (a) consolidated coverage ratio as of the end of each fiscal quarter at no less than 2.50 to 1.00, (b) consolidated total leverage ratio as of the end of each fiscal quarter at no more than 2.00 to 1.00 and (c) minimum EBITDA during any consecutive four-quarter period at no less than $100,000. The Credit Agreement also contains other customary affirmative and negative covenants, including covenants that restrict the right of the Company and its subsidiaries to merge, to lease, sell or otherwise dispose of assets, to make investments and to grant liens on their assets.

Debt Instrument, Basis Spread on Variable Rate

'

'

'

'

0.88%

1.13%

0.88%

1.13%

'

'

'

'

Leverage Ratio

'

'

'

'

0.5

0.51

0.5

0.51

0.5

0.51

'

'

Long-term Line of Credit (in Dollars)

0

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Unused Capacity, Commitment Fee Percentage

'

'

0.15%

0.20%

'

'

'

'

'

'

'

'

Coverage Ratio

'

'

2.5

'

'

'

'

'

'

'

'

'

Consolidated Total Leverage Ratio

'

'

'

2

'

'

'

'

'

'

'

'

Earnings Before Interest, Taxes, Depreciation and Amortization (in Dollars)

'

'

$100,000,000

'

'

'

'

'

'

'

'

'

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	9 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Closing Stock Price	$135.37	'
Total intrinsic value of options exercised	$2,685,000	$833,000
The weighted average grant date fair value of options granted	$50.23	$37.09
Number of shares vested	0	0
Grants in Period, Weighted Average Grant Date Fair Value	$147.46	'
Equity Incentive Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Common stock shares reserved for issuance to employees	5,400,000	'
Nonvested Compensation Cost Not yet Recognized	2,010,000	'
Nonvested Compensation Cost Not yet Recognized, Weighted Average Period for Recognition	'2 years 4 months 24 days	'
Number of Shares Available for Grant	1,170,719	'
Employee Stock Purchase Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Common stock shares reserved for issuance to employees	600,000	'
Number of Shares Available for Grant	213,271	'
Share Based Compensation Arrangement by Share Based Payment Award Market Price Less Discount	85.00%	'
Stock Issued During Period Under the Employee Stock Purchase Plans	8,037	14,505
Incentive Stock Options | Equity Incentive Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Number of installments in which incentive stock options become exercisable	4	'
Incentive Stock Options | Minimum | Equity Incentive Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Contractual life of share based award	'7 years	'
Incentive Stock Options | Maximum | Equity Incentive Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Contractual life of share based award	'10 years	'
Nonqualified Stock Options | Equity Incentive Plan	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Contractual life of share based award	'7 years	'
Vesting period	'4 years	'
Restricted Stock Units (RSUs)	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Vesting period	'3 years	'
Nonvested Compensation Cost Not yet Recognized	18,626,000	'
Nonvested Compensation Cost Not yet Recognized, Weighted Average Period for Recognition	'1 year 10 months 24 days	'
Duration of Earnings Target for granting restricted stock	'3 years	'
Grants in Period, Weighted Average Grant Date Fair Value	$147.46	$87.67
Restricted Stock or Unit Expense	$9,005,000	$6,133,000

Stockholders_Equity_Details_St

Stockholders' Equity (Details) - Stock Options Activity (USD $)	9 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 28, 2014	Dec. 29, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]	'	'
Options Outstanding, Number of Shares Beginning of Period (in shares)	163,609	'
Options Grants in Period, Gross (in shares)	25,035	'
Options Exercises in Period (in shares)	-25,068	'
Options Forfeitures and Expirations in Period (in shares)	-1,800	'
Options Outstanding, Number of Shares End of Period (in shares)	161,776	163,609
Options Exercisable, Number (in shares)	88,456	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]	'	'
Options Outstanding, Weighted Average Exercise Price Beginning of Period (in Dollars per share)	$60.67	'
Options Grants in Period, Weighted Average Exercise Price (in Dollars per share)	$147.52	'
Options Exercises in Period, Weighted Average Exercise Price (in Dollars per share)	$34.07	'
Options Forfeitures and Expirations in Period, Weighted Average Exercise Price (in Dollars per share)	$74.32	'
Options Outstanding, Weighted Average Exercise Price End of Period (in Dollars per share)	$78.08	$60.67
Options Exercisable, Weighted Average Exercise Price (in Dollars per share)	$55.09	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]	'	'
Options Outstanding, Weighted Average Remaining Contractual Term Beginning of Period (in years)	'3 years 10 months 18 days	'3 years 10 months 24 days
Options Outstanding, Weighted Average Remaining Contractual Term End of Period (in years)	'3 years 10 months 18 days	'3 years 10 months 24 days
Options Exercisable, Weighted Average Remaining Contractual Term (in years)	'2 years 9 months 10 days	'
Options Outstanding, Intrinsic Value	$9,572	$13,974
Options Exercisable, Intrinsic Value	$7,107	'

Stockholders_Equity_Details_Re

Stockholders' Equity (Details) - Restricted Stock Activity (USD $)	9 Months Ended
	Sep. 28, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]	'
Restricted Stock Units Outstanding Beginning of Period (in shares)	279,120
Grants in Period (in shares)	107,175
Vested in Period (in shares)	-3,576
Cancelled in Period (in shares)	-15,638
Restricted Stock Units Outstanding End of Period (in shares)	367,081
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]	'
Restricted Stock Units Outstanding, Weighted Average Grant Date Fair Value Beginning of Period (in Dollars per share)	$88.57
Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)	$147.46
Vested in Period, Weighted Average Grant Date Fair Value (in Dollars per share)	$142.85
Cancelled in Period, Weighted Average Grant Date Fair Value (in Dollars per share)	$97.79
Restricted Stock Units Outstanding, Weighted Average Grant Date Fair Value End of Period (in Dollars per share)	$104.84

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share [Line Items]	'	'	'	'
Net earnings	$21,753	$17,871	$73,772	$50,739
Net earnings to calculate earnings per share	21,753	17,871	73,772	50,739
Weighted average shares outstanding – basic (in Shares)	18,922,923	18,778,675	18,899,881	18,764,701
Earnings per common share – basic (in Dollars per share)	$1.15	$0.95	$3.90	$2.70
Earnings per common share – assuming dilution	$21,753	$17,871	$73,772	$50,739
Weighted average shares outstanding – diluted (in Shares)	19,020,690	18,888,546	18,984,884	18,842,194
Earnings per common share – diluted (in Dollars per share)	$1.14	$0.95	$3.89	$2.69
Equity Option	'	'	'	'
Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share [Line Items]	'	'	'	'
Effect of dilutive securities – stock options (in shares)	69,800	67,385	75,681	63,331
Restricted Stock Units (RSUs)	'	'	'	'
Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share [Line Items]	'	'	'	'
Effect of dilutive securities – stock options (in shares)	27,967	42,486	9,322	14,162

Earnings_Per_Common_Share_Deta1

Earnings Per Common Share (Details) - Securities Excluded From Fully Diluted Calculations	3 Months Ended		9 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Equity Option	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from fully diluted computations	25,035	62,977	25,035	64,783
Restricted Stock Units (RSUs)	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from fully diluted computations	339,114	382,176	357,759	410,500

Supplemental_Disclosures_of_Ca2

Supplemental Disclosures of Cash Flow Information (Details) - Supplemental Disclosures of Cash Flow Information (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 28, 2014	Sep. 29, 2013
Cash paid during the period for:	'	'
Income taxes	$46,227	$16,649
Noncash financing and investing transactions:	'	'
Property and equipment not yet paid for	5,232	1,571
Notes Issued	$2,375	$0