Buffalo Wild Wings (BWLD) 10-Q 6 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 29, 2014	Jul. 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	'	18,920,578
Amendment Flag	'false	'
Entity Central Index Key	'0001062449	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Well-known Seasoned Issuer	'Yes	'
Document Period End Date	29-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Consolidated_Balance_Sheets_un

Consolidated Balance Sheets (unaudited) (USD $)	Jun. 29, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$80,902	$57,502
Marketable securities	20,149	7,584
Accounts receivable, net of allowance of $125 and $25, respectively	22,560	21,845
Inventory	10,100	9,492
Prepaid expenses	11,134	4,509
Refundable income taxes	'	4,329
Deferred income taxes	10,749	9,287
Restricted assets	43,401	68,208
Total current assets	198,995	182,756
Property and equipment, net	449,149	440,538
Reacquired franchise rights, net	31,137	33,403
Other assets	19,499	16,498
Goodwill	32,533	32,533
Total assets	731,313	705,728
Current liabilities:	'	'
Unearned franchise fees	1,760	1,818
Accounts payable	32,031	31,806
Accrued compensation and benefits	44,884	52,049
Accrued expenses	12,798	13,784
Income tax payable	1,438	'
Current portion of deferred lease credits	429	'
System-wide payables	43,037	67,017
Total current liabilities	136,377	166,474
Long-term liabilities:	'	'
Other liabilities	3,863	1,913
Deferred income taxes	28,638	37,822
Deferred lease credits, net of current portion	35,470	33,711
Total liabilities	204,348	239,920
Stockholders’ equity:	'	'
Common stock, no par value. Authorized 44,000,000 shares; issued and outstanding 18,920,578 and 18,803,663, respectively	142,377	133,203
Retained earnings	385,620	333,601
Accumulated other comprehensive loss	-1,032	-996
Total stockholders’ equity	526,965	465,808
Total liabilities and stockholders’ equity	$731,313	$705,728

Consolidated_Balance_Sheets_un1

Consolidated Balance Sheets (unaudited) (Parentheticals) (USD $)	Jun. 29, 2014	Dec. 29, 2013
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowance (in Dollars)	$125	$25
Undesignated stock, shares authorized	1,000,000	1,000,000
Common stock, par value (in Dollars per share)	$0	$0
Common stock, shares authorized	44,000,000	44,000,000
Common stock, shares issued	18,920,578	18,803,663
Common stock, shares outstanding	18,920,578	18,803,663

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 29, 2014	Jun. 30, 2013	Jun. 29, 2014	Jun. 30, 2013
Revenue:	'	'	'	'
Restaurant sales	$343,141	$285,403	$688,086	$569,828
Franchise royalties and fees	22,853	19,604	45,763	39,543
Total revenue	365,994	305,007	733,849	609,371
Costs and expenses:	'	'	'	'
Cost of sales	96,837	86,630	194,324	179,721
Labor	107,432	88,929	212,766	174,760
Operating	50,017	41,212	99,055	82,317
Occupancy	19,283	16,865	38,252	32,991
Depreciation and amortization	23,746	21,084	46,578	41,227
General and administrative	30,223	23,601	58,379	44,898
Preopening	2,197	2,420	4,775	6,691
Loss on asset disposals and impairment	1,211	229	1,998	800
Total costs and expenses	330,946	280,970	656,127	563,405
Income from operations	35,048	24,037	77,722	45,966
Other income (loss)	235	-84	108	261
Earnings before income taxes	35,283	23,953	77,830	46,227
Income tax expense	11,580	7,464	25,811	13,359
Net earnings	$23,703	$16,489	$52,019	$32,868
Earnings per common share – basic (in Dollars per share)	$1.25	$0.88	$2.75	$1.75
Earnings per common share – diluted (in Dollars per share)	$1.25	$0.88	$2.74	$1.75
Weighted average shares outstanding – basic (in Shares)	18,904,341	18,767,713	18,888,360	18,757,714
Weighted average shares outstanding – diluted (in Shares)	18,980,694	18,826,841	18,966,894	18,815,394

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 29, 2014	Jun. 30, 2013	Jun. 29, 2014	Jun. 30, 2013
Net earnings	$23,703	$16,489	$52,019	$32,868
Other comprehensive income	'	'	'	'
Foreign currency translation adjustments	458	85	-36	-372
Other comprehensive income (loss), net of tax	458	85	-36	-372
Comprehensive income	$24,161	$16,574	$51,983	$32,496

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 29, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net earnings	$52,019	$32,868
Adjustments to reconcile net earnings to net cash provided by operations:	'	'
Depreciation	44,312	38,704
Amortization	2,266	2,524
Loss on asset disposals and impairment	1,998	800
Deferred lease credits	2,998	2,105
Deferred income taxes	-10,623	-1,542
Stock-based compensation	7,665	4,014
Excess tax benefit from stock issuance	-118	-147
Change in operating assets and liabilities, net of effect of acquisitions:	'	'
Trading securities	-569	-348
Accounts receivable	-347	3,478
Inventory	-608	-678
Prepaid expenses	-6,618	1,653
Other assets	-2	-852
Unearned franchise fees	-58	410
Accounts payable	69	-8,135
Income taxes	5,885	2,133
Accrued expenses	1,019	-221
Net cash provided by operating activities	99,288	76,766
Cash flows from investing activities:	'	'
Acquisition of property and equipment	-54,864	-63,910
Acquisition of businesses/investments in affiliates	-3,000	-10,288
Purchase of marketable securities	-11,996	'
Proceeds from marketable securities	'	3,282
Net cash used in investing activities	-69,860	-70,916
Cash flows from financing activities:	'	'
Proceeds from line of credit	'	5,000
Repayments of line of credit	'	-5,000
Issuance of common stock	1,665	1,152
Excess tax benefit from stock issuance	118	147
Tax payments for restricted stock units	-7,474	-4,813
Net cash used in financing activities	-5,691	-3,514
Effect of exchange rate changes on cash and cash equivalents	-337	-177
Net increase in cash and cash equivalents	23,400	2,159
Cash and cash equivalents at beginning of period	57,502	21,340
Cash and cash equivalents at end of period	$80,902	$23,499

Note_1_Basis_of_Financial_Stat

Note 1 - Basis of Financial Statement Presentation	6 Months Ended
	Jun. 29, 2014
Disclosure Text Block [Abstract]	'
Basis of Accounting [Text Block]	'
	-1	Basis of Financial Statement Presentation
	The consolidated financial statements as of June 29, 2014 and December 29, 2013, and for the three-month and six-month periods ended June 29, 2014 and June 30, 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 June 29, 2014 and for the three-month and six-month periods ended June 29, 2014 and June 30, 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 six-month periods ended June 29, 2014 are not necessarily indicative of the results of operations that may be achieved for the entire year ending December 28, 2014.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 29, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	-2	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 June 29, 2014 and June 30, 2013, chicken wings were 21.4% and 23.5%, respectively, of restaurant cost of sales. For the six-month periods ended June 29, 2014 and June 30, 2013, chicken wings were 20.9% and 26.2%, 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.

Note_3_Fair_Value_Measurements

Note 3 - Fair Value Measurements	6 Months Ended
	Jun. 29, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	-3	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 June 29, 2014:
			Fair Value Measurements
			Level 1		Level 2		Level 3		Total
	Assets
	Cash Equivalents		$	62,595		3,000		—		65,595
	Marketable Securities			8,155		11,994		—		20,149
	Restricted Assets			1,181		1,845		—		3,026
	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 six-month periods ended June 29, 2014 or June 30, 2013.

Note_4_Marketable_Securities

Note 4 - Marketable Securities	6 Months Ended
	Jun. 29, 2014
Investments, Debt and Equity Securities [Abstract]	'
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	'
	-4	Marketable Securities
	Marketable securities consisted of the following:
			June 29,		December 29,
			2014		2013
	Available-for-sale		$	11,994		—
	Trading			8,155		7,584
	Total		$	20,149		7,584
	Purchases of available-for-sale securities totaled $11,996 for the six-month period ended June 29, 2014. Sales of available for-sale securities totaled $512 and there were no purchases for the six-month period ended June 30 2013.

Note_5_Property_and_Equipment

Note 5 - Property and Equipment	6 Months Ended
	Jun. 29, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	-5	Property and Equipment
	Property and equipment consisted of the following:
			June 29,			December 29,
			2014			2013
	Construction in process		$	20,326			18,792
	Buildings			75,716			72,939
	Furniture, fixtures, and equipment			270,635			254,484
	Leasehold improvements			405,211			380,155
	Property and equipment, gross			771,888			726,370
	Less accumulated depreciation			(322,739	)		(285,832	)
	Property and equipment, net		$	449,149			440,538

Note_6_Revolving_Credit_Facili

Note 6 - Revolving Credit Facility	6 Months Ended
	Jun. 29, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	-6	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 June 29, 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 June 29, 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.

Note_7_Stockholders_Equity

Note 7 - Stockholders' Equity	6 Months Ended
	Jun. 29, 2014
Disclosure Text Block Supplement [Abstract]	'
Shareholders' Equity and Share-based Payments [Text Block]	'
	-7	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 six months ended June 29, 2014 as follows:
			Number			Weighted		Average remaining contractual life (years)		Aggregate intrinsic value
			of shares			average
						exercise price
	Outstanding, December 29, 2013			163,609		$	60.67		3.9	$	13,974
	Granted			25,035			147.52
	Exercised			(20,415	)		33.81
	Cancelled			(1,800	)		74.32
	Outstanding, June 29, 2014			166,429		$	76.88		4.1	$	14,521
	Exercisable, June 29, 2014			93,109			54.1		3		10,245
	The aggregate intrinsic value in the table above is before applicable income taxes, based on our closing stock price of $164.13 as of the last business day of the three-month period ended June 29, 2014, which would have been received by the optionees had all options been exercised on that date. As of June 29, 2014, total unrecognized stock-based compensation expense related to nonvested stock options was approximately $2,274, which is expected to be recognized over a weighted average period of approximately 2.6 years. During the six-month periods ended June 29, 2014 and June 30, 2013, the total intrinsic value of stock options exercised was $2,172 and $684, respectively. During the six-month periods ended June 29, 2014 and June 30, 2013, the weighted average grant date fair value of options granted was $50.23 and $37.09, respectively. No shares vested during the six-month periods ended June 29, 2014 or June 30, 2013.
	The Plan had 1,166,669 shares available for grant as of June 29, 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 six months ended June 29, 2014 is as follows:
			Number			Weighted
			of shares			average
						grant date
						fair value
	Outstanding, December 29, 2013			279,120		$	88.57
	Granted			104,148			147.23
	Vested			(3,576	)		142.85
	Cancelled			(10,477	)		94.05
	Outstanding, June 29, 2014			369,215		$	104.44
	As of June 29, 2014, the total stock-based compensation expense related to nonvested awards not yet recognized was $21,430, which is expected to be recognized over a weighted average period of 2.0 years. The weighted average grant date fair value of restricted stock units granted during the six-month periods ended June 29, 2014 and June 30, 2013 was $147.23 and $87.52, respectively. During the six-month periods ended June 29, 2014 and June 30, 2013, we recognized $6,876 and $3,282, 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 six months of 2014 and 2013, we issued 8,037 and 14,505 shares of common stock, respectively, under the ESPP. As of June 29, 2014, we had 213,271 shares available for future issuance under the ESPP.

Note_8_Earnings_Per_Common_Sha

Note 8 - Earnings Per Common Share	6 Months Ended
	Jun. 29, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	-8	Earnings Per Common Share
	The following is a reconciliation of basic and fully diluted earnings per common share for the three-month and six-month periods ended June 29, 2014 and June 30, 2013:
			Three months ended June 29, 2014
			Earnings		Shares		Per-share
			(numerator)		(denominator)		amount
	Net earnings		$	23,703
	Earnings per common share			23,703		18,904,341	$	1.25
	Effect of dilutive securities – stock options			—		76,353
	Earnings per common share – assuming dilution		$	23,703		18,980,694	$	1.25
			Three months ended June 30, 2013
			Earnings		Shares		Per-share
			(numerator)		(denominator)		amount
	Net earnings		$	16,489
	Earnings per common share			16,489		18,767,713	$	0.88
	Effect of dilutive securities – stock options			—		59,128
	Earnings per common share – assuming dilution		$	16,489		18,826,841	$	0.88
			Six months ended June 29, 2014
			Earnings		Shares		Per-share
			(numerator)		(denominator)		amount
	Net earnings		$	52,019
	Earnings per common share			52,019		18,888,360	$	2.75
	Effect of dilutive securities – stock options			—		78,534
	Earnings per common share – assuming dilution		$	52,019		18,966,894	$	2.74
			Six months ended June 30, 2013
			Earnings		Shares		Per-share
			(numerator)		(denominator)		amount
	Net earnings		$	32,868
	Earnings per common share			32,868		18,757,714	$	1.75
	Effect of dilutive securities – stock options			—		57,680
	Earnings per common share – assuming dilution		$	32,868		18,815,394	$	1.75
	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				Six months ended
			June 29,		June 30,		June 29,		June 30,
			2014		2013		2014		2013
	Stock options			25,035		65,789		25,035		46,040
	Restricted stock units			369,215		425,774		369,215		425,774

Note_9_Supplemental_Disclosure

Note 9 - Supplemental Disclosures of Cash Flow Information	6 Months Ended
	Jun. 29, 2014
Supplemental Cash Flow Elements [Abstract]	'
Cash Flow, Supplemental Disclosures [Text Block]	'
	-9	Supplemental Disclosures of Cash Flow Information
			Six months ended
			June 29,		June 30,
			2014		2013
	Cash paid during the period for:
	Income taxes		$	30,706		12,875
	Noncash financing and investing transactions:
	Property and equipment not yet paid for			149		(5,220	)

Note_10_Contingencies

Note 10 - Contingencies	6 Months Ended
	Jun. 29, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	-10	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.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 29, 2014
Accounting Policies [Abstract]	'
Inventory, Policy [Policy Text Block]	'
	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 June 29, 2014 and June 30, 2013, chicken wings were 21.4% and 23.5%, respectively, of restaurant cost of sales. For the six-month periods ended June 29, 2014 and June 30, 2013, chicken wings were 20.9% and 26.2%, of restaurant cost of sales, respectively.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	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.

Note_3_Fair_Value_Measurements1

Note 3 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 29, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	'
		Fair Value Measurements
		Level 1		Level 2		Level 3		Total
	Assets
	Cash Equivalents	$	62,595		3,000		—		65,595
	Marketable Securities		8,155		11,994		—		20,149
	Restricted Assets		1,181		1,845		—		3,026
		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

Note_4_Marketable_Securities_T

Note 4 - Marketable Securities (Tables)	6 Months Ended
	Jun. 29, 2014
Investments, Debt and Equity Securities [Abstract]	'
Marketable Securities [Table Text Block]	'
		June 29,		December 29,
		2014		2013
	Available-for-sale	$	11,994		—
	Trading		8,155		7,584
	Total	$	20,149		7,584

Note_5_Property_and_Equipment_

Note 5 - Property and Equipment (Tables)	6 Months Ended
	Jun. 29, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment [Table Text Block]	'
		June 29,			December 29,
		2014			2013
	Construction in process	$	20,326			18,792
	Buildings		75,716			72,939
	Furniture, fixtures, and equipment		270,635			254,484
	Leasehold improvements		405,211			380,155
	Property and equipment, gross		771,888			726,370
	Less accumulated depreciation		(322,739	)		(285,832	)
	Property and equipment, net	$	449,149			440,538

Note_7_Stockholders_Equity_Tab

Note 7 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 29, 2014
Disclosure Text Block Supplement [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
		Number			Weighted		Average remaining contractual life (years)		Aggregate intrinsic value
		of shares			average
					exercise price
	Outstanding, December 29, 2013		163,609		$	60.67		3.9	$	13,974
	Granted		25,035			147.52
	Exercised		(20,415	)		33.81
	Cancelled		(1,800	)		74.32
	Outstanding, June 29, 2014		166,429		$	76.88		4.1	$	14,521
	Exercisable, June 29, 2014		93,109			54.1		3		10,245
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	'
		Number			Weighted
		of shares			average
					grant date
					fair value
	Outstanding, December 29, 2013		279,120		$	88.57
	Granted		104,148			147.23
	Vested		(3,576	)		142.85
	Cancelled		(10,477	)		94.05
	Outstanding, June 29, 2014		369,215		$	104.44

Note_8_Earnings_Per_Common_Sha1

Note 8 - Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 29, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three months ended June 29, 2014
		Earnings		Shares		Per-share
		(numerator)		(denominator)		amount
	Net earnings	$	23,703
	Earnings per common share		23,703		18,904,341	$	1.25
	Effect of dilutive securities – stock options		—		76,353
	Earnings per common share – assuming dilution	$	23,703		18,980,694	$	1.25
		Three months ended June 30, 2013
		Earnings		Shares		Per-share
		(numerator)		(denominator)		amount
	Net earnings	$	16,489
	Earnings per common share		16,489		18,767,713	$	0.88
	Effect of dilutive securities – stock options		—		59,128
	Earnings per common share – assuming dilution	$	16,489		18,826,841	$	0.88
		Six months ended June 29, 2014
		Earnings		Shares		Per-share
		(numerator)		(denominator)		amount
	Net earnings	$	52,019
	Earnings per common share		52,019		18,888,360	$	2.75
	Effect of dilutive securities – stock options		—		78,534
	Earnings per common share – assuming dilution	$	52,019		18,966,894	$	2.74
		Six months ended June 30, 2013
		Earnings		Shares		Per-share
		(numerator)		(denominator)		amount
	Net earnings	$	32,868
	Earnings per common share		32,868		18,757,714	$	1.75
	Effect of dilutive securities – stock options		—		57,680
	Earnings per common share – assuming dilution	$	32,868		18,815,394	$	1.75
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	'
		Three months ended				Six months ended
		June 29,		June 30,		June 29,		June 30,
		2014		2013		2014		2013
	Stock options		25,035		65,789		25,035		46,040
	Restricted stock units		369,215		425,774		369,215		425,774

Note_9_Supplemental_Disclosure1

Note 9 - Supplemental Disclosures of Cash Flow Information (Tables)	6 Months Ended
	Jun. 29, 2014
Supplemental Cash Flow Elements [Abstract]	'
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	'
		Six months ended
		June 29,		June 30,
		2014		2013
	Cash paid during the period for:
	Income taxes	$	30,706		12,875
	Noncash financing and investing transactions:
	Property and equipment not yet paid for		149		(5,220	)

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies (Details) (Chicken Wings [Member])	3 Months Ended		6 Months Ended
	Jun. 29, 2014	Jun. 30, 2013	Jun. 29, 2014	Jun. 30, 2013
Chicken Wings [Member]	'	'	'	'
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'	'
Percentage of Cost of Sales	21.40%	23.50%	20.90%	26.20%

Note_3_Fair_Value_Measurements2

Note 3 - Fair Value Measurements (Details) (USD $)	Jun. 29, 2014	Jun. 30, 2013
Fair Value Disclosures [Abstract]	'	'
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	$0	$0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	$0	$0

Note_3_Fair_Value_Measurements3

Note 3 - Fair Value Measurements (Details) - Fair Value Measurements (USD $)	Jun. 29, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Assets	'	'
Cash Equivalents	$65,595	$33,587
Marketable Securities	20,149	7,584
Restricted Assets	3,026	5,823
Fair Value, Inputs, Level 1 [Member]	'	'
Assets	'	'
Cash Equivalents	62,595	33,587
Marketable Securities	8,155	7,584
Restricted Assets	1,181	5,823
Fair Value, Inputs, Level 2 [Member]	'	'
Assets	'	'
Cash Equivalents	3,000	'
Marketable Securities	11,994	'
Restricted Assets	$1,845	'

Note_4_Marketable_Securities_D

Note 4 - Marketable Securities (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 29, 2014	Jun. 30, 2013
Investments, Debt and Equity Securities [Abstract]	'	'
Payments to Acquire Available-for-sale Securities	$11,996	$0
Proceeds from Sale of Available-for-sale Securities	'	$512

Note_4_Marketable_Securities_D1

Note 4 - Marketable Securities (Details) - Marketable Securities (USD $)	Jun. 29, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Marketable Securities [Abstract]	'	'
Available-for-sale	$11,994	'
Trading	8,155	7,584
Total	$20,149	$7,584

Note_5_Property_and_Equipment_1

Note 5 - Property and Equipment (Details) - Property and Equipment (USD $)	Jun. 29, 2014	Dec. 29, 2013
In Thousands, unless otherwise specified
Property and Equipment [Abstract]	'	'
Construction in process	$20,326	$18,792
Buildings	75,716	72,939
Furniture, fixtures, and equipment	270,635	254,484
Leasehold improvements	405,211	380,155
Property and equipment, gross	771,888	726,370
Less accumulated depreciation	-322,739	-285,832
Property and equipment, net	$449,149	$440,538

Note_6_Revolving_Credit_Facili1

Note 6 - Revolving Credit Facility (Details) (USD $)

Jun. 29, 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

In Thousands, unless otherwise specified

Interest Rate Terms [Member]

Requirements [Member]

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

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

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

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

Maximum Leverage Ratio for 0.15% Commitment Fee [Member]

Minimum Leverage Ratio for 0.20% Commitment Fee [Member]

Minimum [Member]

Maximum [Member]

Note 6 - Revolving Credit Facility (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

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

'

$100,000

'

'

'

'

'

'

'

'

'

'

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

'

Note_7_Stockholders_Equity_Det

Note 7 - Stockholders' Equity (Details) (USD $)	6 Months Ended
	Jun. 29, 2014	Jun. 30, 2013
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Closing Stock Price	$164.13	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$2,172,000	$684,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$50.23	$37.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$147.23	'
Incentive Stock Options [Member] | Equity Incentive Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period, Number of Installments	4	'
Incentive Stock Options [Member] | Minimum [Member] | Equity Incentive Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award Contractual Life	'7 years	'
Incentive Stock Options [Member] | Maximum [Member] | Equity Incentive Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award Contractual Life	'10 years	'
Nonqualified Stock Options [Member] | Equity Incentive Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award Contractual Life	'7 years	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'4 years	'
Equity Incentive Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	2,274,000	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'2 years 219 days	'
Restricted Stock Units (RSUs) [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'3 years	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	21,430,000	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'2 years	'
Share-based Compensation Arrangement By Share-based Payment Award, Award Vesting Requirement, Duration of Earnings Target	'3 years	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$147.23	$87.52
Restricted Stock or Unit Expense	$6,876,000	$3,282,000
Equity Incentive Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Common Stock, Capital Shares Reserved for Future Issuance	5,400,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,166,669	'
Employee Stock Purchase Plan [Member]	'	'
Note 7 - Stockholders' Equity (Details) [Line Items]	'	'
Common Stock, Capital Shares Reserved for Future Issuance	600,000	'
Share-based Compensation Arrangement by Share-based Payment Award, 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, Shares, Employee Stock Purchase Plans	8,037	14,505

Note_7_Stockholders_Equity_Det1

Note 7 - Stockholders' Equity (Details) - Stock Options Activity (USD $)	6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 29, 2014	Dec. 29, 2013
Stock Options Activity [Abstract]	'	'
Number of shares	166,429	163,609
Weighted average exercise price	$76.88	$60.67
Average remaining contractual life	'4 years 36 days	'3 years 328 days
Aggregate Intrinsic Value	$14,521	$13,974
Exercisable, June 29, 2014	93,109	'
Exercisable, June 29, 2014	$54.10	'
Exercisable, June 29, 2014	'3 years	'
Exercisable, June 29, 2014	$10,245	'
Granted	25,035	'
Granted	$147.52	'
Exercised	-20,415	'
Exercised	$33.81	'
Cancelled	-1,800	'
Cancelled	$74.32	'

Note_7_Stockholders_Equity_Det2

Note 7 - Stockholders' Equity (Details) - Restricted Stock Activity (USD $)	6 Months Ended
	Jun. 29, 2014
Restricted Stock Activity [Abstract]	'
Outstanding, December 29, 2013	279,120
Outstanding, December 29, 2013	$88.57
Granted	104,148
Granted	$147.23
Vested	-3,576
Vested	$142.85
Cancelled	-10,477
Cancelled	$94.05
Outstanding, June 29, 2014	369,215
Outstanding, June 29, 2014	$104.44

Note_8_Earnings_Per_Common_Sha2

Note 8 - Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 29, 2014	Jun. 30, 2013	Jun. 29, 2014	Jun. 30, 2013
Note 8 - Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share [Line Items]	'	'	'	'
Net earnings	$23,703	$16,489	$52,019	$32,868
Earnings per common share	23,703	16,489	52,019	32,868
Earnings per common share	18,904,341	18,767,713	18,888,360	18,757,714
Earnings per common share	$1.25	$0.88	$2.75	$1.75
Earnings per common share – assuming dilution	$23,703	$16,489	$52,019	$32,868
Earnings per common share – assuming dilution	18,980,694	18,826,841	18,966,894	18,815,394
Earnings per common share – assuming dilution	$1.25	$0.88	$2.74	$1.75
Equity Option [Member]	'	'	'	'
Note 8 - Earnings Per Common Share (Details) - Reconciliation of Basic and Fully Diluted Earnings Per Common Share [Line Items]	'	'	'	'
Effect of dilutive securities – stock options	76,353	59,128	78,534	57,680

Note_8_Earnings_Per_Common_Sha3

Note 8 - Earnings Per Common Share (Details) - Securities Excluded From Fully Diluted Calculations	3 Months Ended		6 Months Ended
	Jun. 29, 2014	Jun. 30, 2013	Jun. 29, 2014	Jun. 30, 2013
Equity Option [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from fully diluted computations	25,035	65,789	25,035	46,040
Restricted Stock Units (RSUs) [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from fully diluted computations	369,215	425,774	369,215	425,774

Note_9_Supplemental_Disclosure2

Note 9 - Supplemental Disclosures of Cash Flow Information (Details) - Supplemental Disclosures of Cash Flow Information (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 29, 2014	Jun. 30, 2013
Cash paid during the period for:	'	'
Income taxes	$30,706	$12,875
Noncash financing and investing transactions:	'	'
Property and equipment not yet paid for	$149	($5,220)