Krispy Kreme Doughnuts (KKD) 10-Q 11 Dec 15 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Nov. 01, 2015	Nov. 27, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Nov. 1, 2015
Amendment Flag	false
Entity Registrant Name	KRISPY KREME DOUGHNUTS INC
Entity Central Index Key	1,100,270
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		63,033,882
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	KKD

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
CONSOLIDATED STATEMENT OF INCOME [Abstract]
Revenues	$ 128,544	$ 122,871	$ 388,354	$ 364,967
Operating expenses:
Direct operating expenses (exclusive of depreciation and amortization expense shown below)	102,924	101,067	310,841	296,524
General and administrative expenses	6,796	5,553	21,068	19,337
Depreciation and amortization expense	4,056	3,280	12,123	9,486
Impairment charges and lease termination costs	(22)	4	286	50
Pre-opening costs related to Company Stores	923	702	1,761	1,173
(Gains) and losses on commodity derivatives, net	$ 506	681	900	578
(Gain) on refranchisings, net of business acquisition charges		(1,285)		(854)
Operating income	$ 13,361	12,869	41,375	38,673
Interest income	68	62	287	297
Interest expense	$ (437)	(230)	$ (1,201)	(535)
Equity in losses of equity method franchisees		(53)		(171)
Other non-operating income and (expense), net	$ 140	91	$ 413	411
Income before income taxes	13,132	12,739	40,874	38,675
Provision for income taxes	5,564	4,633	16,722	15,161
Net income	$ 7,568	$ 8,106	$ 24,152	$ 23,514
Earnings per common share:
Basic	$ 0.12	$ 0.12	$ 0.37	$ 0.35
Diluted	$ 0.11	$ 0.12	$ 0.36	$ 0.34

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 37,269	$ 50,971
Receivables, net	31,128	27,799
Receivables from equity method franchisees	918	782
Inventories	19,324	18,194
Deferred income taxes	23,041	23,245
Other current assets	5,518	6,856
Total current assets	117,198	127,847
Property and equipment	$ 126,552	$ 115,758
Investments in equity method franchisees
Goodwill and other intangible assets	$ 29,649	$ 30,070
Deferred income taxes	53,788	68,278
Other assets	10,306	10,760
Total assets	337,493	352,713
CURRENT LIABILITIES:
Current portion of lease obligations	346	333
Accounts payable	20,734	17,095
Accrued liabilities	32,118	32,530
Total current liabilities	53,198	49,958
Lease obligations, less current portion	11,262	9,354
Other long-term obligations and deferred credits	$ 25,478	$ 25,615
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Preferred stock, no par value; 10,000 shares authorized; none issued and outstanding
Common stock, no par value; 300,000 shares authorized; 63,034 shares and 64,926 shares outstanding, respectively	$ 266,385	$ 310,768
Accumulated deficit	(18,830)	(42,982)
Total shareholders equity	247,555	267,786
Total liabilities and shareholders' equity	$ 337,493	$ 352,713

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parentheticals) - $ / shares shares in Thousands	Nov. 01, 2015	Feb. 01, 2015
CONSOLIDATED BALANCE SHEET [Abstract]
Preferred stock, par value per share
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share
Common stock, shares authorized	300,000	300,000
Common stock, shares issued	63,034	64,926
Common stock, shares outstanding	63,034	64,926

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 24,152	$ 23,514
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	12,123	9,486
Deferred income taxes	14,694	$ 13,381
Impairment charges	343
Accrued rent expense	490	$ 597
Loss on disposal of property and equipment	$ 105	212
(Gain) on refranchising		(1,247)
Share-based compensation	$ 5,018	3,397
Provision for doubtful accounts	(98)	5
Amortization of deferred financing costs	$ 81	81
Equity in losses of equity method franchisees		171
Unrealized (gains) losses on commodity derivative positions	$ (1,811)	593
Other	40	14
Change in assets and liabilities:
Receivables	(4,365)	(4,156)
Inventories	(1,103)	(312)
Other current and non-current assets	1,634	(2,366)
Accounts payable and accrued liabilities	4,606	1,967
Other long-term obligations and deferred credits	(503)	381
Net cash provided by operating activities	55,406	45,718
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(20,397)	(21,254)
Proceeds from disposals of property and equipment	279	2,222
Acquisition of stores from franchisees	$ (312)	(7,152)
Proceeds from refranchising		1,847
Other investing activities	$ 974	584
Net cash used for investing activities	(19,456)	(23,753)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of lease obligations	(251)	(296)
Proceeds from exercise of stock options	1,933	9,921
Repurchase of common shares	(51,334)	(42,867)
Net cash used for financing activities	(49,652)	(33,242)
Net decrease in cash and cash equivalents	(13,702)	(11,277)
Cash and cash equivalents at beginning of period	50,971	55,748
Cash and cash equivalents at end of period	37,269	44,471
Supplemental schedule of non-cash investing and financing activities:
Assets acquired under leasing arrangements	$ 2,132	$ 6,919

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Accumulated Deficit [Member]
Beginning Balance at Feb. 02, 2014	$ 265,093	$ 338,135	$ (73,042)
Balance, shares at Feb. 02, 2014		64,940
Comprehensive income	23,514		$ 23,514
Exercise of stock options	9,921	$ 9,921
Exercise of stock options, shares		1,866
Share-based compensation	3,397	$ 3,397
Share-based compensation, shares		305
Repurchase of common shares	$ (41,022)	$ (41,022)
Repurchase of common shares, shares	(2,340)	(2,340)
Ending Balance at Nov. 02, 2014	$ 260,903	$ 310,431	$ (49,528)
Balance, shares at Nov. 02, 2014		64,771
Beginning Balance at Feb. 01, 2015	$ 267,786	$ 310,768	(42,982)
Balance, shares at Feb. 01, 2015	64,926	64,926
Comprehensive income	$ 24,152		$ 24,152
Exercise of stock options	1,933	$ 1,933
Exercise of stock options, shares		349
Share-based compensation	5,018	$ 5,018
Share-based compensation, shares		615
Repurchase of common shares	$ (51,334)	$ (51,334)
Repurchase of common shares, shares	(2,856)	(2,856)
Ending Balance at Nov. 01, 2015	$ 247,555	$ 266,385	$ (18,830)
Balance, shares at Nov. 01, 2015	63,034	63,034

Accounting Policies

Accounting Policies	9 Months Ended
	Nov. 01, 2015
Accounting Policies [Abstract]
Accounting Policies	Note 1 — Accounting Policies Krispy Kreme Doughnuts, Inc. (“KKDI”) and its subsidiaries (collectively, the “Company”) are engaged in the sale of doughnuts and complementary products through Company-owned stores. The Company also licenses the Krispy Kreme 20 Significant Accounting Policies BASIS OF PRESENTATION. The consolidated financial statements contained herein should be read in conjunction with the Company's 2015 Form 10-K. The accompanying interim consolidated financial statements are presented in accordance with the requirements of Article 10 of Regulation S-X and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) with respect to annual financial statements. The interim consolidated financial statements have been prepared in accordance with the Company's accounting practices described in the 2015 Form 10-K, but have not been audited. In management's opinion, the financial statements include all adjustments, which consist only of normal recurring adjustments, necessary for a fair statement of the Company's results of operations for the periods presented. The consolidated balance sheet data as of February 1, 2015 was derived from the Company's audited financial statements. BASIS OF CONSOLIDATION. The financial statements include the accounts of KKDI and its subsidiaries. CHANGE IN PRESENTATION. In the first quarter of fiscal 2016, the Company changed the presentation of the Consolidated Statement of Income and segment financial information. Pre-opening costs related to Company Stores; gains and losses on commodity derivatives, net and gain on refranchisings, net of business acquisition charges are now separate line items on the Consolidated Statement of Income and are no longer in the respective business segments' operating income in Note 2. Such changes were made to provide more clarity and visibility to the Company's operations and to conform to new management reporting. The Company furnished a Current Report on Form 8-K on June 10, 2015 providing the Consolidated Statement of Income and segment financial information for the quarterly and annual periods in fiscal 2014 and fiscal 2015 conformed to the fiscal 2016 presentation. The Company has made no changes to its reportable segments. These presentation changes had no impact on the Company's consolidated operating income or consolidated net income. EARNINGS PER SHARE. The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflects the additional common shares that would have been outstanding if dilutive potential common shares had been issued, computed using the treasury stock method. Such potential common shares consist of shares issuable upon the exercise of stock options and the vesting of currently unvested restricted stock units. Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Numerator: net income $ 7,568 $ 8,106 $ 24,152 $ 23,514 Denominator: Basic earnings per share - weighted average shares outstanding 64,373 66,407 65,493 66,313 Effect of dilutive securities: Stock options 1,365 1,780 1,518 2,161 Restricted stock units 213 467 287 568 Diluted earnings per share - weighted average shares outstanding plus dilutive potential common shares 65,951 68,654 67,298 69,042 The sum of the quarterly earnings per share amounts does not necessarily equal earnings per share for the year to date. Stock options with respect to 370,000 324,000 404,000 100,000 Stock options with respect to 319,000 264,000 263,000 70,000 . Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“ FASB”) issued Accounting Standard Update ("ASU”) 2015-17, Balance Sheet Classification of Deferred Taxes, which eliminates the current requirement for companies to present deferred tax liabilities and assets as current and non-current in a classified balance sheet. Instead, companies will be required to classify all deferred tax assets and liabilities as non-current. This guidance is effective for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory”, which changes guidance for subsequent measurement of inventory within the scope of the update from the lower of cost or market to the lower of cost and net realizable value. This update is effective for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. The Company will evaluate the effects, if any, of adoption of this guidance on the Company's consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements.” This guidance states that given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to the line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the costs ratably over the term of the arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit. As all of the Company's debt issuance costs are related to line-of-credit arrangements and are currently classified as assets, this update will not have any impact on the Company's financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers”, to clarify the principles used to recognize revenue for all entities. This guidance was deferred by ASU 2015-14, issued by the FASB in August 2015, and is now effective for fiscal years beginning on or after December 15, 2017 with early adoption permitted as of the original effective date. The Company will evaluate the effects, if any, of adoption of this guidance on the Company's consolidated financial statements.

Segment Information

Segment Information	9 Months Ended
	Nov. 01, 2015
Segment Information [Abstract]
Segment Information	Note 2 — Segment Information The Company's operating and reportable segments are Company Stores, Domestic Franchise, International Franchise and KK Supply Chain. The Company Stores segment is comprised of the stores owned and operated by the Company. These stores sell doughnuts and complementary products through both on-premises and consumer packaged goods - wholesale (“CPG”) sales channels, although some stores serve only one of these distribution channels. The Domestic Franchise and International Franchise segments consist of the Company's franchise operations. Under the terms of franchise agreements, domestic and international franchisees pay royalties and fees to the Company in return for the use of the Krispy Kreme The majority of the ingredients and materials used by Company stores are purchased from the KK Supply Chain segment, which supplies doughnut mix, other ingredients and supplies, and doughnut-making equipment to both Company and franchisee-owned stores. All intercompany sales by the KK Supply Chain segment to the Company Stores segment are at prices intended to reflect an arms-length transfer price and are eliminated in consolidation. Operating income for the Company Stores segment does not include any profit earned by the KK Supply Chain segment on sales of doughnut mix and other items to the Company Stores segment; such profit is included in KK Supply Chain operating income. The following table presents the results of operations of the Company's operating segments for the three and nine months ended November 1, 2015 and November 2, 2014. Segment operating income is consolidated operating income before general and administrative expenses, corporate depreciation and amortization expense, impairment charges and lease termination costs, pre-opening costs related to Company Stores, gains and losses on commodity derivatives, net and gain on refranchisings, net of business acquisition charges. Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Revenues: Company Stores $ 87,354 $ 82,579 $ 262,188 $ 241,562 Domestic Franchise 3,651 3,274 11,296 10,069 International Franchise 6,323 6,852 20,365 20,967 KK Supply Chain: Total revenues 63,359 61,581 190,345 181,396 Less – intersegment sales elimination (32,143 ) (31,415 ) (95,840 ) (89,027 ) External KK Supply Chain revenues 31,216 30,166 94,505 92,369 Total revenues $ 128,544 $ 122,871 $ 388,354 $ 364,967 Operating income: Company Stores $ 4,149 $ 1,688 $ 13,098 $ 8,267 Domestic Franchise 1,962 1,951 6,496 6,007 International Franchise 4,534 5,048 14,925 14,439 KK Supply Chain 11,502 10,210 32,595 31,350 Total segment operating income 22,147 18,897 67,114 60,063 General and administrative expenses (6,796 ) (5,553 ) (21,068 ) (19,337 ) Corporate depreciation and amortization expense (583 ) (373 ) (1,724 ) (1,106 ) 22 (4 ) (286 ) (50 ) (923 ) (702 ) (1,761 ) (1,173 ) (506 ) (681 ) (900 ) (578 ) Gain on refranchisings, net of business acquisition charges - 1,285 - 854 Consolidated operating income $ 13,361 $ 12,869 $ 41,375 $ 38,673 Depreciation and amortization expense: Company Stores $ 3,190 2,711 9,620 $ 7,752 Domestic Franchise 16 26 49 121 International Franchise - 1 - 4 KK Supply Chain 267 169 730 503 Corporate 583 373 1,724 1,106 Total depreciation and amortization expense $ 4,056 $ 3,280 $ 12,123 $ 9,486 Segment information for total assets and capital expenditures is not presented as such information is not used in measuring segment performance or allocating resources among segments.

Receivables

Receivables	9 Months Ended
	Nov. 01, 2015
Receivables [Abstract]
Receivables	Note 3 — Receivables The components of receivables are as follows: November 1, February 1, 2015 2015 (In thousands) Receivables: Consumer packaged goods - wholesale customers $ 10,814 $ 9,557 Unaffiliated franchisees 14,973 12,743 Third-party distributors 3,418 4,075 Other receivables 1,063 867 Current portion of notes receivable from franchisees 1,156 1,052 31,424 28,294 Less — allowance for doubtful accounts: Consumer packaged goods - wholesale customers (131 ) (204 ) Unaffiliated franchisees (165 ) (291 ) (296 ) (495 ) $ 31,128 $ 27,799 Receivables from equity method franchisees (Note 5): Trade $ 918 $ 782 The changes in the allowance for doubtful accounts are summarized as follows: Nine Months Ended November 1, November 2, 2015 2014 (In thousands) Allowance for doubtful accounts related to receivables: Balance at beginning of period $ 495 $ 241 Provision for doubtful accounts (136 ) 102 Net recoveries (chargeoffs) (63 ) 11 Balance at end of period $ 296 $ 354 The Company also has notes receivable from franchisees included in “Other assets” in the accompanying consolidated balance sheet, which are summarized in the following table. November 1, February 1, 2015 2015 (In thousands) Notes receivable: Notes receivable from franchisees $ 4,602 $ 4,534 Less — portion due within one year included in receivables (1,156 ) (1,052 ) $ 3,446 $ 3,482 Notes receivable at November 1, 2015 and February 1, 2015 consist principally of amounts payable to the Company related to a refranchising transaction, to the sale of certain leasehold interests to a franchisee and to sales of equipment. In addition to the foregoing notes receivable, the Company had promissory notes totaling approximately $ 1.2 1.9 700,000 900,000 Finally, the Company has a promissory note receivable from Krispy Kreme of South Florida, LLC (“KKSF”) totaling approximately $ 590,000 1.0 1.6 130,000 100,000 390,000 420,000

Inventories

Inventories	9 Months Ended
	Nov. 01, 2015
Inventories [Abstract]
Inventories	Note 4 — Inventories The components of inventories are as follows: November 1, February 1, 2015 2015 (In thousands) Raw materials $ 7,658 $ 6,779 Work in progress 71 115 Finished goods and purchased merchandise 11,595 11,300 $ 19,324 $ 18,194

Investments in Franchisees

Investments in Franchisees	9 Months Ended
	Nov. 01, 2015
Investments in Franchisees [Abstract]
Investment in Franchisees	Note 5 — Investments in Franchisees As of November 1, 2015, the Company had an ownership interest in three zero November 1, 2015 Company Investment Ownership and Percentage Advances Receivables (Dollars in thousands) Kremeworks, LLC 25.0 % $ 900 $ 391 Kremeworks Canada, LP 24.5 % 667 42 Krispy Kreme of South Florida, LLC 35.3 % - 485 1,567 918 Less: reserves and allowances (1,567 ) - $ - $ 918 February 1, 2015 Company Investment Ownership and Percentage Advances Receivables (Dollars in thousands) Kremeworks, LLC 25.0 % $ 900 $ 353 Kremeworks Canada, LP 24.5 % 667 30 Krispy Kreme of South Florida, LLC 35.3 % - 399 1,567 782 Less: reserves and allowances (1,567 ) - $ - $ 782 The carrying values of the Company's investments and advances in Kremeworks, LLC (“Kremeworks”) and Kremeworks Canada, LP (“Kremeworks Canada”) were zero at November 1, 2015 and February 1, 2015. In addition, the Company had reserved all of the balance of its advances to Kremeworks and Kremeworks Canada at such dates; accrued but uncollected interest on such advances of approximately $ 370,000

Credit Facility and Lease Oblig

Credit Facility and Lease Obligations	9 Months Ended
	Nov. 01, 2015
Credit Facility and Lease Obligations [Abstract]
Credit Facility and Lease Obligations	Note 6 — Credit Facility and Lease Obligations Lease obligations consist of the following: November 1, February 1, 2015 2015 (In thousands) Capital lease obligations $ 2,793 $ 2,940 Financing obligations 8,815 6,747 11,608 9,687 Less: current portion (346 ) (333 ) $ 11,262 $ 9,354 Lease Obligations The Company acquires equipment and facilities under capital and operating leases and build-to-suit arrangements. In certain build-to-suit leasing arrangements, the Company incurs hard costs related to the construction of leased stores and is therefore deemed the owner of the leased stores for accounting purposes during the construction period. The Company records the related assets and liabilities for construction costs incurred under these build-to-suit leasing arrangements during the construction period. Upon completion of the leased store, the Company considers whether the assets and liabilities qualify for derecognition under the sale-leaseback accounting guidance. These leasing arrangements do not qualify for sale-leaseback treatment and, accordingly, the Company records the transactions as financing obligations. A portion of the lease payments is allocated to land and is classified as an operating lease. The remainder of the lease payments is allocated between interest expense and amortization of the financing obligations. The assets are depreciated over their estimated useful lives. At the end of the lease term, the carrying value of the leased asset and the remaining financing obligation are expected to be equal, at which time the Company may either surrender the leased assets as settlement of the remaining financing obligation or enter into a new arrangement for the continued use of the asset. 2013 Revolving Credit Facility On July 12, 2013, the Company entered into a $ 40 million revolving secured credit facility (the “2013 Facility”) which matures in July 2018. The 2013 Facility is secured by a first lien on substantially all of the personal property assets of the Company and certain of its domestic subsidiaries. No borrowings were made on the 2013 Facility on the closing date . Interest on borrowings under the 2013 Facility is payable either at the London Interbank Offered Rate (“LIBOR”) or the Base Rate (which is the greatest of the prime rate, the Fed funds rate plus 0.50 %, or the one-month LIBOR rate plus 1.00 % ), in each case plus the Applicable Percentage. The Applicable Percentage for LIBOR loans ranges from 1.25 % to 2.15 %, and for Base Rate loans ranges from 0.25 % to 1.15 %, in each case depending on the Company's leverage ratio. As of November 1, 2015, the Applicable Percentage was 1.25 %. The 2013 Facility contains provisions which permit the Company to obtain letters of credit, issuance of which constitutes usage of the lending commitments and reduces the amount available for cash borrowings. At November 1, 2015, the Company had approximately $ 10.2 million of letters of credits outstanding, substantially all of which secure the Company's reimbursement obligations to insurers under the Company's self-insurance programs. The Company is required to pay a fee equal to the Applicable Percentage for LIBOR-based loans on the outstanding amount of letters of credit. There also is a fee on the unused portion of the 2013 Revolving Credit Facility lending commitment, ranging from 0.15 % to 0.35 %, depending on the Company's leverage ratio. As of November 1, 2015, the fee on the unused portion of the 2013 Revolving Credit Facility was 0.15 . The 2013 Facility requires the Company to meet certain financial tests, including a maximum leverage ratio and a minimum fixed charge coverage ratio. The leverage ratio is required to be not greater than 2.25 to 1.0 and the fixed charge coverage ratio is required to be not less than 1.3 to 1.0. As of November 1, 2015, the Company's leverage ratio was 0.3 to 1.0 and the fixed charge coverage ratio was 3.6 to 1.0. The operation of the restrictive financial covenants described above may limit the amount the Company may borrow under the 2013 Facility. The restrictive covenants did not limit the Company's ability to borrow the full $ 29.8 million of available credit under the 2013 Revolving Credit Agreement as of November 1, 2015. The 2013 Facility also contains covenants which, among other things, generally limit (with certain exceptions): liquidations, mergers, and consolidations; the incurrence of additional indebtedness (including guarantees); the incurrence of additional liens; the sale, assignment, lease, conveyance or transfer of assets; certain investments; dividends and stock redemptions or repurchases in excess of certain amounts; transactions with affiliates; engaging in materially different lines of business; certain sale-leaseback transactions; and other activities customarily restricted in such agreements. The 2013 Facility also prohibits the transfer of cash or other assets to the Parent Company (as defined in the 2013 Facility), whether by dividend, loan or otherwise, but provides for exceptions to enable the Parent Company to pay taxes, directors' fees and operating expenses, as well as exceptions to permit dividends in respect of the Company's common stock and stock redemptions and repurchases, to the extent permitted by the 2013 Facility. The 2013 Facility also contains customary events of default including, without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to other indebtedness in excess of $5 million, certain events of bankruptcy and insolvency, judgment defaults in excess of $ 5 Borrowings and issuances of letters of credit under the 2013 Facility are subject to the satisfaction of usual and customary conditions, including the accuracy of representations and warranties and the absence of defaults.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Nov. 01, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 7 — Commitments and Contingencies Except as disclosed below, the Company currently is not a party to any material legal proceedings. Pending Litigation K 2 Asia Litigation On April 7, 2009, a Cayman Islands corporation, K 2 The Company does not believe it is probable that a loss has been incurred with respect to this matter, and accordingly no liability related to it has been reflected in the accompanying financial statements. Other Legal Matters The Company also is engaged in various legal proceedings arising in the normal course of business. The Company maintains insurance policies against certain kinds of such claims and suits, including insurance policies for workers' compensation and personal injury, all of which are subject to deductibles. While the ultimate outcome of these matters could differ from management's expectations, management currently does not believe their resolution will have a material adverse effect on the Company's consolidated financial statements. Other Commitments and Contingencies The Company's primary bank had issued letters of credit on behalf of the Company totaling $ 10.2 million at November 1, 2015, substantially all of which secure the Company's reimbursement obligations to insurers under the Company's self-insurance arrangements.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Nov. 01, 2015
Shareholders' Equity [Abstract]
Shareholders' Equity	Note 8 — Shareholders' Equity Share-Based Compensation for Employees and Directors The Company measures and recognizes compensation expense for share-based payment (“SBP”) awards based on their fair values. The fair value of SBP awards for which employees and directors render the requisite service necessary for the award to vest is recognized over the related vesting period. The aggregate cost of SBP awards charged to earnings for the three and nine months ended November 1, 2015 and November 2, 2014 is set forth in the following table. The Company did not realize any excess tax benefits from the exercise of stock options or the vesting of restricted stock units during any of the periods. Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Costs charged to earnings related to: Stock options $ 271 $ 324 $ 889 $ 885 Restricted stock units 1,085 866 4,129 2,512 Total costs $ 1,356 $ 1,190 $ 5,018 $ 3,397 Costs included in: Direct operating expenses $ 579 $ 561 $ 2,374 $ 1,724 General and administrative expenses 777 629 2,644 1,673 Total costs $ 1,356 $ 1,190 $ 5,018 $ 3,397 Repurchases of Common Stock In fiscal 2014, the Company's Board of Directors authorized the repurchase of up to $ 50 $ 155 . Through November 1, 2015, the Company repurchased 6,197,099 18.00 111.6 50.0 41.4 $ 43.4 155 The Company generally permits holders of restricted stock unit awards to satisfy their obligations to reimburse the Company for the minimum required statutory withholding taxes arising from the vesting of such awards by surrendering vested common shares in lieu of reimbursing the Company in cash. The following table summarizes repurchases of common stock for the three and nine months ended November 1, 2015 and November 2, 2014. Three Months Ended November 1, November 2, 2015 2014 Common Common Shares Stock Shares Stock (In thousands) Shares repurchased under share repurchase authorization 890 $ 15,689 397 $ 6,786 Shares surrendered in reimbursement for withholding taxes 57 914 82 1,463 947 $ 16,603 479 $ 8,249 Nine Months Ended November 1, November 2, 2015 2014 Common Common Shares Stock Shares Stock (In thousands) Shares repurchased under share repurchase authorization 2,775 $ 50,000 2,237 $ 39,225 Shares surrendered in reimbursement for withholding taxes 81 1,334 103 1,797 2,856 $ 51,334 2,340 $ 41,022

Impairment Charges and Lease Te

Impairment Charges and Lease Termination Costs	9 Months Ended
	Nov. 01, 2015
Impairment Charges and Lease Termination Costs [Abstract]
Impairment Charges and Lease Termination Costs	Note 9 — Impairment Charges and Lease Termination Costs The components of impairment charges and lease termination costs are as follows: Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Impairment of long-lived assets $ - $ - $ 343 $ - Lease termination costs: Provision for lease termination costs 28 4 103 52 Less - reversal of previously recorded accrued rent expense (50 ) - (160 ) (2 ) Net provision (22 ) 4 (57 ) 50 Total impairment charges and lease termination costs $ (22 ) $ 4 $ 286 $ 50 The Company tests long-lived assets for impairment when events or changes in circumstances indicate that their carrying value may not be recoverable. These events and changes in circumstances include store closing and refranchising decisions, the effects of changing costs on current results of operations, unfavorable observed trends in operating results, and evidence of changed circumstances observed as a part of periodic reforecasts of future operating results and as part of the Company's annual budgeting process. When the Company concludes that the carrying value of long-lived assets is not recoverable (based on future projected undiscounted cash flows), the Company records impairment charges to reduce the carrying value of those assets to their estimated fair values. During the nine months ended November 1, 2015, the Company recorded impairment charges related to long-lived assets for one Company store that closed during the second quarter of fiscal 2016 to reduce the carrying value of those assets to their estimated fair values. Substantially all of such long-lived assets were real properties, the fair values of which were estimated based on an independent appraisal and are included in other current assets as assets held for sale. Lease termination costs represent the estimated fair value of liabilities related to unexpired leases, after reduction by the amount of accrued rent expense, if any, related to the leases, and are recorded when the lease contracts are terminated or, if earlier, the date on which the Company ceases use of the leased property. The fair value of these liabilities is estimated as the excess, if any, of the contractual payments required under the unexpired leases over the current market lease rates for the properties, discounted at a credit-adjusted risk-free rate over the remaining term of the leases. The provision for lease termination costs also includes adjustments to liabilities recorded in prior periods arising from changes in estimated sublease rentals and from settlements with landlords. During the nine months ended November 1, 2015, the Company recorded lease termination costs related to a store closed during the second quarter of fiscal 2016. The transactions reflected in the accrual for lease termination costs are summarized as follows: Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 121 $ 176 $ 116 $ 178 Provision for lease termination costs: Provisions associated with leased properties, net of estimated sublease rentals - - 57 44 Adjustments to previously recorded provisions resulting from settlements with lessors and adjustments of previous estimates 26 (1 ) 39 (6 ) Accretion of discount 2 5 7 14 Total provision 28 4 103 52 Payments on unexpired leases, including settlements with lessors (62 ) (34 ) (132 ) (84 ) Balance at end of period $ 87 $ 146 $ 87 $ 146

Income Taxes

Income Taxes	9 Months Ended
	Nov. 01, 2015
Income Taxes [Abstract]
Income Taxes	Note 10 — Income Taxes The Company's effective income tax rate was 42.4 40.9 for the three and nine months ended November 1, 2015, respectively, compared to an effective income tax rate of 36.4 39.2 for the three and nine months ended November 2, 2014, respectively In the third quarter of fiscal 2016, the North Carolina (“NC”) state legislature passed legislation to phase in single sales factor apportionment over the next few years. Given the Company has a significant presence in NC, this change significantly lowers the income apportioned to NC. The lower apportionment to NC results in a lower effective tax rate for both NC and the overall effective tax rate. As a result, the Company reduced the value of its deferred tax assets, principally attributable to state net operating loss (“NOL”) carryforwards, by $ 291,000 In the second quarter of fiscal 2016, the NC state legislature announced it surpassed its revenue estimates and these increased tax revenues triggered an automatic reduction to the state corporate income tax rate, which caused the Company to revalue its deferred income tax assets to reflect the lower corporate income tax rate. The net effect of the NC tax rate reduction and associated revaluation of the Company's deferred tax assets, principally attributable to state NOL carryforwards, resulted in the reduction in net deferred tax assets of $ 467,000 In the third quarter of fiscal 2015, the Company recognized additional deferred income tax assets related to state net operating loss carryforwards as a result of taking a previously unanticipated tax position in a fiscal 2014 tax return filed during the quarter, and as a result of entering into an agreement with a state tax authority during the quarter with respect to a new filing position with respect to certain earlier years. These changes increased the Company's deferred income tax assets by $ 206,000 109,000 Accordingly, the Company's aggregate net deferred tax assets increased and deferred income tax expense decreased by 315,000 The Company has established a valuation allowance of $ 2.5 million at November 1, 2015 and $ 2.6 million at February 1, 2015 that represents the portion of the Company's deferred tax assets management estimates will not be realized in the future. Such assets are associated principally with state net operating loss carryforwards related to states in which the scope of the Company's operations has decreased. In such states, the Company's ability to realize the net operating loss carryforwards is adversely affected because the Company is expected to have little income earned in or apportioned to those states in the future . Realization of net deferred tax assets generally is dependent on generation of taxable income in future periods. While management believes its forecast of future taxable income is reasonable, actual results inevitably will vary from management's forecasts. Such variances could result in adjustments to the valuation allowance on deferred tax assets in future periods, and such adjustments could be material to the financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Nov. 01, 2015
Fair Value Measurements [Abstract]
Fair-Value Measurements	Note 11 — Fair Value Measurements The accounting standards for fair value measurements define fair value as the price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The accounting standards for fair value measurements establish a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. • Level 2 - Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value measurement of the assets or liabilities. These include certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company's financial instruments not measured at fair value on a recurring basis includes cash and cash equivalents, receivables, accounts payable and accrued liabilities and are reflected in the consolidated financial statements at cost which approximates fair value for these items due to their short term nature. We believe the fair value determination of these short-term financial instruments is a Level 1 measure. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis at November 1, 2015 and February 1, 2015. November 1, 2015 (1) Level 1 Level 2 Level 3 (In thousands) Assets: 401(k) mirror plan assets $ 2,291 $ - $ - February 1, 2015 (1) Level 1 Level 2 Level 3 (In thousands) Assets: 401(k) mirror plan assets $ 2,496 $ - $ - Liabilities: Agricultural commodity futures contracts $ 874 $ - $ - Gasoline commodity futures contracts 937 - - Total liabilities $ 1,811 $ - $ - (1) There were no transfers of financial assets or liabilities among the levels within the fair value hierarchy during the three and nine months ended November 1, 2015 or during the year ended February 1, 2015. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The following table presents the nonrecurring fair value measurements recorded during the nine months ended November 1, 2015. There were no material nonrecurring fair value measurements recorded during the three months ended November 1, 2015 or the three and nine months ended November 2, 2014. Nine Months Ended November 1, 2015 Level 1 Level 2 Level 3 Total gain (loss) (In thousands) Long-lived assets $ - $ 94 $ - $ (343) Long-Lived Assets During the nine months ended November 1, 2015, long-lived assets having an aggregate carrying value of $ 437,000 94,000 343,000

Derivative Instruments

Derivative Instruments	9 Months Ended
	Nov. 01, 2015
Derivative Instruments [Abstract]
Derivative Instruments	Note 12 — Derivative Instruments The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is commodity price risk. The Company does not hold or issue derivative instruments for trading purposes. Additional disclosure about the fair value of derivative instruments is included in Note 11. Commodity Price Risk The Company is exposed to the effects of commodity price fluctuations in the cost of ingredients of its products, of which flour, sugar and shortening are the most significant. In order to bring greater stability to the cost of ingredients, from time to time the Company purchases exchange-traded commodity futures contracts, and options on such contracts, for raw materials which are ingredients of its products or which are components of such ingredients, including wheat and soybean oil. The Company is also exposed to the effects of commodity price fluctuations in the cost of gasoline used by its delivery vehicles. To mitigate the risk of fluctuations in the price of its gasoline purchases, the Company may purchase exchange-traded commodity futures contracts and options on such contracts. The difference between the cost, if any, and the fair value of commodity derivatives is reflected in earnings because the Company has not designated any of these instruments as hedges. Gains and losses on these contracts are intended to offset losses and gains on the hedged transactions in an effort to reduce the earnings volatility resulting from fluctuating commodity prices. The settlement of commodity derivative contracts is reported in the consolidated statement of cash flows as a cash flow from operating activities. The Company had no commodity derivative contracts outstanding as of November 1, 2015. Interest Rate Risk The Company is exposed to market risk from increases in interest rates on any borrowings outstanding under its 2013 Facility. As of November 1, 2015, there were no borrowings outstanding under the facility. Quantitative Summary of Derivative Positions and Their Effect on Results of Operations The following table presents the fair values of derivative instruments included in the consolidated balance sheet as of November 1, 2015 and February 1, 2015: Liability Derivatives Fair Value November 1, February 1, Derivatives Not Designated as Hedging Instruments Balance Sheet Location 2015 2015 (In thousands) Agricultural commodity futures contracts Accrued liabilities $ - $ 874 Gasoline commodity futures contracts Accrued liabilities - 937 Total $ - $ 1,811 The effects of derivative instruments on the consolidated statement of income for the three and nine months ended November 1, 2015 and November 2, 2014 were as follows: Amount of Derivative Gain or (Loss) Recognized in Income Three Months Ended November 1, November 2, Derivatives Not Designated as Hedging Instruments Location of Derivative Gain or (Loss) Recognized in Income 2015 2014 (In thousands) Agricultural commodity futures contracts Gains and losses on commodity derivatives, net $ (255 ) $ (681 ) Gasoline commodity futures contracts Gains and losses on commodity derivatives, net (251 ) - Total $ (506 ) $ (681 ) Amount of Derivative Gain or (Loss) Recognized in Income Nine Months Ended November 1, November 2, Derivatives Not Designated as Hedging Instruments Location of Derivative Gain or (Loss) Recognized in Income 2015 2014 (In thousands) Agricultural commodity futures contracts Gains and losses on commodity derivatives, net $ (661 ) $ (578 ) Gasoline commodity futures contracts Gains and losses on commodity derivatives, net (239 ) - Total $ (900 ) $ (578 )

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Nov. 01, 2015
Acquisitions and Divestitures [Abstract]
Acquisitions and Divestitures	Note 13 — Acquisitions and Divestitures Acquisition of Krispy Kreme Shops On April 23, 2015, the Company entered into several legal arrangements with a franchisee, which included an asset purchase agreement and management agreement, whereby the Company agreed to operate the franchisee's Krispy Kreme 312,000 Krispy Kreme 2.7 252,000 27,000 137,000 104,000 On June 17, 2014, the Company acquired the business and operating assets of its franchisee in Birmingham, Alabama, consisting of four Krispy Kreme 9 13 7.5 three The Company recorded charges to earnings related to the acquisition of $ 431,000 343,000 88,000 The cost of the acquired business was allocated as follows: Purchase price allocated to: Working capital, exclusive of cash $ (5 ) Property and equipment 710 Reacquired franchise rights associated with the Company Stores segment 3,853 Goodwill associated with the Company Stores segment 2,594 $ 7,152 Amounts allocated to reacquired franchise rights are being amortized by charges to earnings on a straight-line basis through March 2020, which was the expiration date of the terminated franchise agreement. All of the goodwill recognized in the acquisition for financial reporting purposes is expected to be deductible for income tax purposes. The results of operations of the acquired business subsequent to the acquisition had no material effect on the Company's consolidated results of operations. The Company's results of operations for the year ended February 2, 2014, computed on a pro basis assuming the acquisition had been consummated at the beginning of those periods, would not be materially different from the Company's historical results of operations and, accordingly, have been omitted. In December 2013, the Company acquired the land, building and doughnut-making equipment at a facility in Illinois that had fiscal 2014 sales of approximately $ 3 1.6 million cash, all of which was allocated to property and equipment. The facility was being operated as a Krispy Kreme Asset Divestitures On September 9, 2014, the Company refranchised its retail Krispy Kreme 1.8 1.2 million on the refranchising transaction. The refranchising included the execution of a development agreement pursuant to which the new franchisee has agreed to develop an additional 20 Krispy Kreme seven In July 2013, the Company refranchised three 681,000 7.0 45 876,000 on the refranchising transaction in the second quarter of fiscal 2014. The gain includes approximately 462,000 414,000 two two 2.1

Subsequent Events

Subsequent Events	9 Months Ended
	Nov. 01, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 14 — Subsequent Events Subsequent to the end of the third quarter of fiscal 2016, the Company recognized a gain of approximately $ 660,000

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Nov. 01, 2015
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION. The consolidated financial statements contained herein should be read in conjunction with the Company's 2015 Form 10-K. The accompanying interim consolidated financial statements are presented in accordance with the requirements of Article 10 of Regulation S-X and, accordingly, do not include all the disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) with respect to annual financial statements. The interim consolidated financial statements have been prepared in accordance with the Company's accounting practices described in the 2015 Form 10-K, but have not been audited. In management's opinion, the financial statements include all adjustments, which consist only of normal recurring adjustments, necessary for a fair statement of the Company's results of operations for the periods presented. The consolidated balance sheet data as of February 1, 2015 was derived from the Company's audited financial statements.
BASIS OF CONSOLIDATION	BASIS OF CONSOLIDATION. The financial statements include the accounts of KKDI and its subsidiaries.
CHANGE IN PRESENTATION	CHANGE IN PRESENTATION. In the first quarter of fiscal 2016, the Company changed the presentation of the Consolidated Statement of Income and segment financial information. Pre-opening costs related to Company Stores; gains and losses on commodity derivatives, net and gain on refranchisings, net of business acquisition charges are now separate line items on the Consolidated Statement of Income and are no longer in the respective business segments' operating income in Note 2. Such changes were made to provide more clarity and visibility to the Company's operations and to conform to new management reporting. The Company furnished a Current Report on Form 8-K on June 10, 2015 providing the Consolidated Statement of Income and segment financial information for the quarterly and annual periods in fiscal 2014 and fiscal 2015 conformed to the fiscal 2016 presentation. The Company has made no changes to its reportable segments. These presentation changes had no impact on the Company's consolidated operating income or consolidated net income.
EARNINGS PER SHARE	EARNINGS PER SHARE. The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflects the additional common shares that would have been outstanding if dilutive potential common shares had been issued, computed using the treasury stock method. Such potential common shares consist of shares issuable upon the exercise of stock options and the vesting of currently unvested restricted stock units. Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Numerator: net income $ 7,568 $ 8,106 $ 24,152 $ 23,514 Denominator: Basic earnings per share - weighted average shares outstanding 64,373 66,407 65,493 66,313 Effect of dilutive securities: Stock options 1,365 1,780 1,518 2,161 Restricted stock units 213 467 287 568 Diluted earnings per share - weighted average shares outstanding plus dilutive potential common shares 65,951 68,654 67,298 69,042 The sum of the quarterly earnings per share amounts does not necessarily equal earnings per share for the year to date. Stock options with respect to 370,000 324,000 404,000 100,000 Stock options with respect to 319,000 264,000 263,000 70,000 .
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“ FASB”) issued Accounting Standard Update ("ASU”) 2015-17, Balance Sheet Classification of Deferred Taxes, which eliminates the current requirement for companies to present deferred tax liabilities and assets as current and non-current in a classified balance sheet. Instead, companies will be required to classify all deferred tax assets and liabilities as non-current. This guidance is effective for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. In July 2015, the FASB issued ASU 2015-11, “Simplifying the Measurement of Inventory”, which changes guidance for subsequent measurement of inventory within the scope of the update from the lower of cost or market to the lower of cost and net realizable value. This update is effective for annual and interim periods beginning after December 15, 2016 and early adoption is permitted. The Company will evaluate the effects, if any, of adoption of this guidance on the Company's consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements.” This guidance states that given the absence of authoritative guidance within ASU 2015-03 for debt issuance costs related to the line-of-credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the costs ratably over the term of the arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit. As all of the Company's debt issuance costs are related to line-of-credit arrangements and are currently classified as assets, this update will not have any impact on the Company's financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers”, to clarify the principles used to recognize revenue for all entities. This guidance was deferred by ASU 2015-14, issued by the FASB in August 2015, and is now effective for fiscal years beginning on or after December 15, 2017 with early adoption permitted as of the original effective date. The Company will evaluate the effects, if any, of adoption of this guidance on the Company's consolidated financial statements.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Nov. 01, 2015
Accounting Policies [Abstract]
Schedule of Computation of Earnings Per Share	Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Numerator: net income $ 7,568 $ 8,106 $ 24,152 $ 23,514 Denominator: Basic earnings per share - weighted average shares outstanding 64,373 66,407 65,493 66,313 Effect of dilutive securities: Stock options 1,365 1,780 1,518 2,161 Restricted stock units 213 467 287 568 Diluted earnings per share - weighted average shares outstanding plus dilutive potential common shares 65,951 68,654 67,298 69,042

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Nov. 01, 2015
Segment Information [Abstract]
Schedule of Operations by Reporting Segment	Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Revenues: Company Stores $ 87,354 $ 82,579 $ 262,188 $ 241,562 Domestic Franchise 3,651 3,274 11,296 10,069 International Franchise 6,323 6,852 20,365 20,967 KK Supply Chain: Total revenues 63,359 61,581 190,345 181,396 Less – intersegment sales elimination (32,143 ) (31,415 ) (95,840 ) (89,027 ) External KK Supply Chain revenues 31,216 30,166 94,505 92,369 Total revenues $ 128,544 $ 122,871 $ 388,354 $ 364,967 Operating income: Company Stores $ 4,149 $ 1,688 $ 13,098 $ 8,267 Domestic Franchise 1,962 1,951 6,496 6,007 International Franchise 4,534 5,048 14,925 14,439 KK Supply Chain 11,502 10,210 32,595 31,350 Total segment operating income 22,147 18,897 67,114 60,063 General and administrative expenses (6,796 ) (5,553 ) (21,068 ) (19,337 ) Corporate depreciation and amortization expense (583 ) (373 ) (1,724 ) (1,106 ) 22 (4 ) (286 ) (50 ) (923 ) (702 ) (1,761 ) (1,173 ) (506 ) (681 ) (900 ) (578 ) Gain on refranchisings, net of business acquisition charges - 1,285 - 854 Consolidated operating income $ 13,361 $ 12,869 $ 41,375 $ 38,673 Depreciation and amortization expense: Company Stores $ 3,190 2,711 9,620 $ 7,752 Domestic Franchise 16 26 49 121 International Franchise - 1 - 4 KK Supply Chain 267 169 730 503 Corporate 583 373 1,724 1,106 Total depreciation and amortization expense $ 4,056 $ 3,280 $ 12,123 $ 9,486

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Nov. 01, 2015
Receivables [Abstract]
Schedule of Components of Receivables	November 1, February 1, 2015 2015 (In thousands) Receivables: Consumer packaged goods - wholesale customers $ 10,814 $ 9,557 Unaffiliated franchisees 14,973 12,743 Third-party distributors 3,418 4,075 Other receivables 1,063 867 Current portion of notes receivable from franchisees 1,156 1,052 31,424 28,294 Less — allowance for doubtful accounts: Consumer packaged goods - wholesale customers (131 ) (204 ) Unaffiliated franchisees (165 ) (291 ) (296 ) (495 ) $ 31,128 $ 27,799 Receivables from equity method franchisees (Note 5): Trade $ 918 $ 782 November 1, February 1, 2015 2015 (In thousands) Notes receivable: Notes receivable from franchisees $ 4,602 $ 4,534 Less — portion due within one year included in receivables (1,156 ) (1,052 ) $ 3,446 $ 3,482
Schedule of Changes in the Allowances for Doubtful Accounts	The changes in the allowance for doubtful accounts are summarized as follows: Nine Months Ended November 1, November 2, 2015 2014 (In thousands) Allowance for doubtful accounts related to receivables: Balance at beginning of period $ 495 $ 241 Provision for doubtful accounts (136 ) 102 Net recoveries (chargeoffs) (63 ) 11 Balance at end of period $ 296 $ 354

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Nov. 01, 2015
Inventories [Abstract]
Schedule of Inventory	November 1, February 1, 2015 2015 (In thousands) Raw materials $ 7,658 $ 6,779 Work in progress 71 115 Finished goods and purchased merchandise 11,595 11,300 $ 19,324 $ 18,194

Investments in Franchisees (Tab

Investments in Franchisees (Tables)	9 Months Ended
	Nov. 01, 2015
Investments in Franchisees [Abstract]
Schedule of Investments in Franchisees	November 1, 2015 Company Investment Ownership and Percentage Advances Receivables (Dollars in thousands) Kremeworks, LLC 25.0 % $ 900 $ 391 Kremeworks Canada, LP 24.5 % 667 42 Krispy Kreme of South Florida, LLC 35.3 % - 485 1,567 918 Less: reserves and allowances (1,567 ) - $ - $ 918 February 1, 2015 Company Investment Ownership and Percentage Advances Receivables (Dollars in thousands) Kremeworks, LLC 25.0 % $ 900 $ 353 Kremeworks Canada, LP 24.5 % 667 30 Krispy Kreme of South Florida, LLC 35.3 % - 399 1,567 782 Less: reserves and allowances (1,567 ) - $ - $ 782

Credit Facility and Lease Obl27

Credit Facility and Lease Obligations (Tables)	9 Months Ended
	Nov. 01, 2015
Credit Facility and Lease Obligations [Abstract]
Schedule of Lease Obligations	November 1, February 1, 2015 2015 (In thousands) Capital lease obligations $ 2,793 $ 2,940 Financing obligations 8,815 6,747 11,608 9,687 Less: current portion (346 ) (333 ) $ 11,262 $ 9,354

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Nov. 01, 2015
Shareholders' Equity [Abstract]
Schedule of Share-Based Compensation	Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Costs charged to earnings related to: Stock options $ 271 $ 324 $ 889 $ 885 Restricted stock units 1,085 866 4,129 2,512 Total costs $ 1,356 $ 1,190 $ 5,018 $ 3,397 Costs included in: Direct operating expenses $ 579 $ 561 $ 2,374 $ 1,724 General and administrative expenses 777 629 2,644 1,673 Total costs $ 1,356 $ 1,190 $ 5,018 $ 3,397
Schedule of Repurchase of Common Stock	Three Months Ended November 1, November 2, 2015 2014 Common Common Shares Stock Shares Stock (In thousands) Shares repurchased under share repurchase authorization 890 $ 15,689 397 $ 6,786 Shares surrendered in reimbursement for withholding taxes 57 914 82 1,463 947 $ 16,603 479 $ 8,249 Nine Months Ended November 1, November 2, 2015 2014 Common Common Shares Stock Shares Stock (In thousands) Shares repurchased under share repurchase authorization 2,775 $ 50,000 2,237 $ 39,225 Shares surrendered in reimbursement for withholding taxes 81 1,334 103 1,797 2,856 $ 51,334 2,340 $ 41,022

Impairment Charges and Lease 29

Impairment Charges and Lease Termination Costs (Tables)	9 Months Ended
	Nov. 01, 2015
Impairment Charges and Lease Termination Costs [Abstract]
Schedule of Impairment Charges and Lease Termination Costs	Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Impairment of long-lived assets $ - $ - $ 343 $ - Lease termination costs: Provision for lease termination costs 28 4 103 52 Less - reversal of previously recorded accrued rent expense (50 ) - (160 ) (2 ) Net provision (22 ) 4 (57 ) 50 Total impairment charges and lease termination costs $ (22 ) $ 4 $ 286 $ 50
Schedule of Lease Termination Liability	Three Months Ended Nine Months Ended November 1, November 2, November 1, November 2, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 121 $ 176 $ 116 $ 178 Provision for lease termination costs: Provisions associated with leased properties, net of estimated sublease rentals - - 57 44 Adjustments to previously recorded provisions resulting from settlements with lessors and adjustments of previous estimates 26 (1 ) 39 (6 ) Accretion of discount 2 5 7 14 Total provision 28 4 103 52 Payments on unexpired leases, including settlements with lessors (62 ) (34 ) (132 ) (84 ) Balance at end of period $ 87 $ 146 $ 87 $ 146

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Nov. 01, 2015
Fair Value Measurements [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	November 1, 2015 (1) Level 1 Level 2 Level 3 (In thousands) Assets: 401(k) mirror plan assets $ 2,291 $ - $ - February 1, 2015 (1) Level 1 Level 2 Level 3 (In thousands) Assets: 401(k) mirror plan assets $ 2,496 $ - $ - Liabilities: Agricultural commodity futures contracts $ 874 $ - $ - Gasoline commodity futures contracts 937 - - Total liabilities $ 1,811 $ - $ - (1) There were no transfers of financial assets or liabilities among the levels within the fair value hierarchy during the three and nine months ended November 1, 2015 or during the year ended February 1, 2015.
Schedule of Non-Recurring Measurements	Nine Months Ended November 1, 2015 Level 1 Level 2 Level 3 Total gain (loss) (In thousands) Long-lived assets $ - $ 94 $ - $ (343)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Nov. 01, 2015
Derivative Instruments [Abstract]
Schedule of Derivative Fair Value	Liability Derivatives Fair Value November 1, February 1, Derivatives Not Designated as Hedging Instruments Balance Sheet Location 2015 2015 (In thousands) Agricultural commodity futures contracts Accrued liabilities $ - $ 874 Gasoline commodity futures contracts Accrued liabilities - 937 Total $ - $ 1,811
Schedule of Derivative Gain (Loss)	Amount of Derivative Gain or (Loss) Recognized in Income Three Months Ended November 1, November 2, Derivatives Not Designated as Hedging Instruments Location of Derivative Gain or (Loss) Recognized in Income 2015 2014 (In thousands) Agricultural commodity futures contracts Gains and losses on commodity derivatives, net $ (255 ) $ (681 ) Gasoline commodity futures contracts Gains and losses on commodity derivatives, net (251 ) - Total $ (506 ) $ (681 ) Amount of Derivative Gain or (Loss) Recognized in Income Nine Months Ended November 1, November 2, Derivatives Not Designated as Hedging Instruments Location of Derivative Gain or (Loss) Recognized in Income 2015 2014 (In thousands) Agricultural commodity futures contracts Gains and losses on commodity derivatives, net $ (661 ) $ (578 ) Gasoline commodity futures contracts Gains and losses on commodity derivatives, net (239 ) - Total $ (900 ) $ (578 )

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Nov. 01, 2015
Birmingham, Alabama Store Acquisition [Member]
Business Acquisition [Line Items]
Summary of Purchase Price Allocation	Purchase price allocated to: Working capital, exclusive of cash $ (5 ) Property and equipment 710 Reacquired franchise rights associated with the Company Stores segment 3,853 Goodwill associated with the Company Stores segment 2,594 $ 7,152

Accounting Policies (Schedule o

Accounting Policies (Schedule of Computation of Earnings Per Share) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Accounting Policies [Abstract]
Net income	$ 7,568	$ 8,106	$ 24,152	$ 23,514
Basic earnings per share - weighted average shares outstanding	64,373	66,407	65,493	66,313
Diluted earnings per share - weighted average shares outstanding plus dilutive potential common shares	65,951	68,654	67,298	69,042
Stock Options [Member]
Effect of dilutive securities:
Share-based payment arrangement	1,365	1,780	1,518	2,161
Restricted Stock Units [Member]
Effect of dilutive securities:
Share-based payment arrangement	213	467	287	568

Accounting Policies (Narrative)

Accounting Policies (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	370,000	324,000	319,000	264,000
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	404,000	100,000	263,000	70,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Segment Reporting Information [Line Items]
Revenues	$ 128,544	$ 122,871	$ 388,354	$ 364,967
General and administrative expenses	(6,796)	(5,553)	(21,068)	(19,337)
Depreciation and amortization expense	(4,056)	(3,280)	(12,123)	(9,486)
Impairment charges and lease termination costs	22	(4)	(286)	(50)
Pre-opening costs related to Company Stores	(923)	(702)	(1,761)	(1,173)
Gains and (losses) on commodity derivatives, net	$ (506)	(681)	(900)	(578)
Gain on refranchisings, net of business acquisition charges		1,285		854
Operating income	$ 13,361	12,869	41,375	38,673
Segments [Member]
Segment Reporting Information [Line Items]
Operating income	22,147	18,897	67,114	60,063
Corporate [Member]
Segment Reporting Information [Line Items]
General and administrative expenses	(6,796)	(5,553)	(21,068)	(19,337)
Depreciation and amortization expense	(583)	(373)	(1,724)	(1,106)
Impairment charges and lease termination costs	22	(4)	(286)	(50)
Pre-opening costs related to Company Stores	(923)	(702)	(1,761)	(1,173)
Gains and (losses) on commodity derivatives, net	$ (506)	(681)	$ (900)	(578)
Gain on refranchisings, net of business acquisition charges		1,285		854
Company Stores [Member]
Segment Reporting Information [Line Items]
Revenues	$ 87,354	82,579	$ 262,188	241,562
Depreciation and amortization expense	(3,190)	(2,711)	(9,620)	(7,752)
Operating income	4,149	1,688	13,098	8,267
Domestic Franchise [Member]
Segment Reporting Information [Line Items]
Revenues	3,651	3,274	11,296	10,069
Depreciation and amortization expense	(16)	(26)	(49)	(121)
Operating income	1,962	1,951	6,496	6,007
International Franchise [Member]
Segment Reporting Information [Line Items]
Revenues	$ 6,323	6,852	20,365	20,967
Depreciation and amortization expense		(1)		(4)
Operating income	$ 4,534	5,048	14,925	14,439
KK Supply Chain [Member]
Segment Reporting Information [Line Items]
Revenues	31,216	30,166	94,505	92,369
Depreciation and amortization expense	(267)	(169)	(730)	(503)
Operating income	11,502	10,210	32,595	31,350
KK Supply Chain [Member] | Segments [Member]
Segment Reporting Information [Line Items]
Revenues	63,359	61,581	190,345	181,396
KK Supply Chain [Member] | Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenues	$ (32,143)	$ (31,415)	$ (95,840)	$ (89,027)

Receivables (Components of Rece

Receivables (Components of Receivables) (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other receivables	$ 1,063	$ 867
Current portion of notes receivable	1,156	1,052
Receivables	31,424	28,294
Less - allowance for doubtful accounts:	(296)	(495)
Receivables, net	31,128	27,799
Receivables from equity method franchisees	918	782
Consumer Packaged Goods - Wholesale Customers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	10,814	9,557
Less - allowance for doubtful accounts:	(131)	(204)
Unaffiliated Franchisees [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	14,973	12,743
Less - allowance for doubtful accounts:	(165)	(291)
Third Party Distributors [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 3,418	$ 4,075

Receivables (Allowance for Doub

Receivables (Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014
Allowance For Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 495
Provision for doubtful accounts	(98)	$ 5
Balance at end of period	296
Trade Accounts Receivable [Member]
Allowance For Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	495	241
Provision for doubtful accounts	(136)	102
Net recoveries (chargeoffs)	(63)	11
Balance at end of period	$ 296	$ 354

Receivables (Schedule of Other

Receivables (Schedule of Other Notes Receivables) (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Receivables [Abstract]
Note receivable from franchisees	$ 4,602	$ 4,534
Less - portion due within one year included in receivables	(1,156)	(1,052)
Non-current portion of notes receivable	$ 3,446	$ 3,482

Receivables (Narrative) (Detail

Receivables (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014	Feb. 01, 2015	Nov. 01, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unrecognized franchise revenue	$ 1,200,000		$ 1,200,000		$ 1,900,000
Collection of previously unrecognized franchise revenue			700,000	$ 900,000
Krispy Kreme South Florida LLC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unrecognized notes receivable	590,000		590,000		$ 1,000,000	$ 1,600,000
Collection of notes receivable	$ 130,000	$ 100,000	$ 390,000	$ 420,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Inventories [Abstract]
Raw materials	$ 7,658	$ 6,779
Work in progress	71	115
Finished goods and purchased merchandise	11,595	11,300
Inventories, Net, Total	$ 19,324	$ 18,194

Investments in Franchisees (Fin

Investments in Franchisees (Financial Exposure Related to Franchisee Investments) (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Schedule of Equity Method Investments [Line Items]
Investment and advances	$ 1,567	$ 1,567
Reserves and allowances	$ (1,567)	$ (1,567)
Investment and advances
Receivables	$ 918	$ 782
Reserves and allowances
Receivables	$ 918	$ 782
Kremeworks LLC [Member]
Schedule of Equity Method Investments [Line Items]
Company Ownership Percentage	25.00%	25.00%
Investment and advances	$ 900	$ 900
Receivables	$ 391	$ 353
Kremeworks Canada LP [Member]
Schedule of Equity Method Investments [Line Items]
Company Ownership Percentage	24.50%	24.50%
Investment and advances	$ 667	$ 667
Receivables	$ 42	$ 30
Krispy Kreme South Florida LLC [Member]
Schedule of Equity Method Investments [Line Items]
Company Ownership Percentage	35.30%	35.30%
Investment and advances
Receivables	$ 485	$ 399

Investments in Franchisees (Nar

Investments in Franchisees (Narrative) (Details)	Nov. 01, 2015USD ($)franchises
Schedule of Equity Method Investments [Line Items]
Number of investments in franchisees | franchises	3
Kremeworks, LLC and Kremeworks Canada, LP [Member]
Schedule of Equity Method Investments [Line Items]
Accrued but uncollected interest on advances | $	$ 370,000

Credit Facility and Lease Obl43

Credit Facility and Lease Obligations (Schedule of Lease Obligations) (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Lease obligations:
Lease obligations	$ 11,608	$ 9,687
Less: current portion	(346)	(333)
Lease obligations, less current portion	11,262	9,354
Capital lease obligations [Member]
Lease obligations:
Lease obligations	2,793	2,940
Assets Under Financing Obligations [Member]
Lease obligations:
Lease obligations	$ 8,815	$ 6,747

Credit Facility and Lease Obl44

Credit Facility and Lease Obligations (2013 Revolving Credit Facility) (Details) $ in Millions	9 Months Ended
	Nov. 01, 2015USD ($)
Credit Facility and Lease Obligations [Abstract]
Letters of credit outstanding	$ 10.2
2013 Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Issuance date	Jul. 12, 2013
Debt maturity date	Jul. 12, 2018
Maximum borrowing capacity	$ 40
Available borrowing capacity	$ 29.8
Spread over variable rate	1.25%
Description of variable rate basis	greatest of the prime rate, the Fed funds rate plus 0.50%, or the one-month LIBOR rate plus 1.00%
Fee on unused portion	0.15%
Leverage ratio	0.3
Fixed charge coverage ratio	3.6
Default triggering event	$ 5
2013 Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Fee on unused portion	0.15%
Fixed charge coverage ratio	1.3
2013 Revolving Credit Facility [Member] | Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Spread over variable rate	1.25%
2013 Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Spread over variable rate	0.25%
2013 Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Fee on unused portion	0.35%
Leverage ratio	2.25
2013 Revolving Credit Facility [Member] | Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Spread over variable rate	2.15%
2013 Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Spread over variable rate	1.15%

Commitments and Contingencies (

Commitments and Contingencies (Narratives) (Details) $ in Millions	9 Months Ended
	Nov. 01, 2015USD ($)
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 10.2
K2 Asia Litigation [Member]
Loss Contingencies [Line Items]
Loss Contingency, Actions Taken by Plaintiff	On April 7, 2009, a Cayman Islands corporation, K2 Asia Ventures, and its owners filed a lawsuit in Forsyth County, North Carolina Superior Court against the Company, its franchisee in the Philippines, and other persons associated with the franchisee. The suit alleges that the Company and the other defendants conspired to deprive the plaintiffs of claimed “exclusive rights” to negotiate franchise and development agreements with prospective franchisees in the Philippines, and seeks unspecified damages. The Company therefore does not know the amount or range of possible loss related to this matter. The Company believes that these allegations are false and intends to vigorously defend against the lawsuit. On July 26, 2013, the Superior Court dismissed the Philippines-based defendants for lack of personal jurisdiction, and the plaintiffs noticed an appeal of that decision. On January 22, 2015, the North Carolina Supreme Court denied the plaintiffs’ request to review the case. The Company moved for summary judgment on May 7, 2015 and is awaiting a decision by the Superior Court.

Shareholders' Equity (Allocatio

Shareholders' Equity (Allocation of Share-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 1,356	$ 1,190	$ 5,018	$ 3,397
Direct Operating Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	579	561	2,374	1,724
General and Administration Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	777	629	2,644	1,673
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	271	324	889	885
Restricted Stock Units [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation	$ 1,085	$ 866	$ 4,129	$ 2,512

Shareholders' Equity (Repurchas

Shareholders' Equity (Repurchases of Common Stock) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		28 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015
Shareholders' Equity [Abstract]
Shares repurchased under share repurchase authorizations, shares	890,000	397,000	2,775,000	2,237,000	6,197,099
Shares surrendered in reimbursement for withholding taxes, shares	57,000	82,000	81,000	103,000
Repurchases of common shares, shares	947,000	479,000	2,856,000	2,340,000
Shares repurchased under share repurchase authorizations	$ 15,689	$ 6,786	$ 50,000	$ 39,225	$ 111,600
Shares surrendered in reimbursement for withholding taxes	914	1,463	1,334	1,797
Repurchase of common shares	$ 16,603	$ 8,249	$ 51,334	$ 41,022

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		28 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Feb. 02, 2014
Equity Disclosure [Line Items]
Authorization amount for repurchases of common stock	$ 155,000		$ 155,000		$ 155,000	$ 50,000
Shares repurchased under share repurchase authorizations, shares	890,000	397,000	2,775,000	2,237,000	6,197,099
Shares repurchased under share repurchase authorization, average price per share					$ 18
Value of shares repurchased under share repurchase authorization	$ 15,689	$ 6,786	$ 50,000	$ 39,225	$ 111,600
Repurchases settled during the period			50,000	$ 41,400
Amount remaining under repurchase authorization	$ 43,400		$ 43,400		$ 43,400

Impairment Charges and Lease 49

Impairment Charges and Lease Termination Costs (Schedule of Impairment Charges and Lease Termination Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Impairment Charges and Lease Termination Costs [Abstract]
Impairment of long-lived assets			$ 343
Lease termination costs:
Provision for lease termination costs	$ 28	$ 4	103	$ 52
Less - reversal of previously recorded accrued rent expense	(50)		(160)	(2)
Net provision	(22)	$ 4	(57)	50
Total impairment charges and lease termination costs	$ (22)	$ 4	$ 286	$ 50

Impairment Charges and Lease 50

Impairment Charges and Lease Termination Costs (Schedule of Lease Termination Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Lease Termination Costs [Roll Forward]
Balance at beginning of period	$ 121	$ 176	$ 116	$ 178
Provision for lease termination costs:
Provisions associated with leased properties, net of estimated sublease rentals			57	44
Adjustments to previously recorded provisions resulting from settlements with lessors and adjustments of previous estimates	$ 26	$ (1)	39	(6)
Accretion of discount	2	5	7	14
Total provision	28	4	103	52
Payments on unexpired leases, including settlements with lessors	(62)	(34)	(132)	(84)
Balance at end of period	$ 87	$ 146	$ 87	$ 146

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended			9 Months Ended
	Nov. 01, 2015	Aug. 02, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014	Feb. 01, 2015
Income Taxes Disclosure [Line Items]
Effective income tax rate	42.40%		36.40%	40.90%	39.20%
Valuation allowance	$ 2,500,000			$ 2,500,000		$ 2,600,000
Change in deferred tax assets resulting from tax positions			$ 206,000		$ 206,000
Increase (decrease) in valuation allowance			(109,000)		(109,000)
Effect on deferred income tax expense			$ (315,000)		$ (315,000)
Single Sales Factor Apportionment [Member]
Deferred Tax Assets
Tax effect of change in tax rate	$ 291,000			291,000
Automatic Reduction in State Corporate Income Tax Rate [Member]
Deferred Tax Assets
Tax effect of change in tax rate		$ 467,000		$ 467,000

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Liabilities:
Commodity futures contracts		$ 1,811
Recurring [Member] | Level 1 [Member]
Assets:
401(k) mirror plan assets	$ 2,291	2,496
Liabilities:
Total liabilities		1,811
Recurring [Member] | Level 1 [Member] | Agricultural Commodity Futures Contracts [Member]
Liabilities:
Commodity futures contracts		874
Recurring [Member] | Level 1 [Member] | Gasoline Commodity Futures Contracts [Member]
Liabilities:
Commodity futures contracts		$ 937
Recurring [Member] | Level 2 [Member]
Assets:
401(k) mirror plan assets
Liabilities:
Total liabilities
Recurring [Member] | Level 2 [Member] | Agricultural Commodity Futures Contracts [Member]
Liabilities:
Commodity futures contracts
Recurring [Member] | Level 2 [Member] | Gasoline Commodity Futures Contracts [Member]
Liabilities:
Commodity futures contracts
Recurring [Member] | Level 3 [Member]
Assets:
401(k) mirror plan assets
Liabilities:
Total liabilities
Recurring [Member] | Level 3 [Member] | Agricultural Commodity Futures Contracts [Member]
Liabilities:
Commodity futures contracts
Recurring [Member] | Level 3 [Member] | Gasoline Commodity Futures Contracts [Member]
Liabilities:
Commodity futures contracts

Fair Value Measurements (Asse53

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Assets, Fair Value Disclosure [Abstract]
Total gain (loss)			$ (343)
Fair Value, Measurements, Nonrecurring [Member] | Carrying Value [Member]
Assets, Fair Value Disclosure [Abstract]
Long-lived assets	$ 437		$ 437
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value [Member]
Assets, Fair Value Disclosure [Abstract]
Long-lived assets
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value [Member]
Assets, Fair Value Disclosure [Abstract]
Long-lived assets	$ 94		$ 94
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value [Member]
Assets, Fair Value Disclosure [Abstract]
Long-lived assets

Derivative Instruments (Fair Va

Derivative Instruments (Fair Value by Balance Sheet Location) (Details) - USD ($) $ in Thousands	Nov. 01, 2015	Feb. 01, 2015
Derivatives, Fair Value [Line Items]
Commodity futures contracts		$ 1,811
Accrued Liabilities [Member] | Agricultural Commodity Futures Contracts [Member]
Derivatives, Fair Value [Line Items]
Commodity futures contracts		874
Accrued Liabilities [Member] | Gasoline Commodity Futures Contracts [Member]
Derivatives, Fair Value [Line Items]
Commodity futures contracts		$ 937

Derivative Instruments (Effect

Derivative Instruments (Effect of Derivative Instuments by Income Statement Location) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 01, 2015	Nov. 02, 2014	Nov. 01, 2015	Nov. 02, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Derivative Gain or (Loss) Recognized in Income	$ (506)	$ (681)	$ (900)	$ (578)
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(506)	(681)	(900)	(578)
Gains and Losses on Commodity Derivatives, Net [Member] | Agricultural Commodity Futures Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(255)	$ (681)	(661)	$ (578)
Gains and Losses on Commodity Derivatives, Net [Member] | Gasoline Commodity Futures Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ (251)		$ (239)

Acquisitions and Divestitures56

Acquisitions and Divestitures (Acquisition of Krispy Kreme Shops) (Details)	Apr. 23, 2015USD ($)	Jun. 17, 2014USD ($)stores	Dec. 31, 2013USD ($)stores	Aug. 03, 2014USD ($)	Nov. 01, 2015USD ($)	Nov. 02, 2014USD ($)	Feb. 01, 2015USD ($)	Feb. 02, 2014USD ($)
Business Acquisition [Line Items]
Payments to acquire businesses, net of cash acquired					$ 312,000	$ 7,152,000
Little Rock Acquisition [Member]
Business Acquisition [Line Items]
Net sales							$ 2,700,000
Payments to acquire businesses, net of cash acquired	$ 312,000
Property and equipment	252,000
Inventory	27,000
Reacquired franchise rights	137,000
Unfavorable lease liability	$ 104,000
Illinois Store Acquisition [Member]
Business Acquisition [Line Items]
Net sales								$ 3,000,000
Number of stores acquired | stores			1
Payments to acquire businesses, net of cash acquired			$ 1,600,000
Birmingham, Alabama Store Acquisition [Member]
Business Acquisition [Line Items]
Net sales								$ 9,000,000
Number of stores acquired | stores		4
Acquisition expenses				$ 431,000
Settlement of pre-existing franchise agreement				343,000
Acquisition-related transaction costs				88,000
Cash consideration for acquisition		$ 7,500,000
Property and equipment				710,000
Birmingham, Alabama Store Acquisition [Member] | Company Stores [Member]
Business Acquisition [Line Items]
Reacquired franchise rights				$ 3,853,000

Acquisitions and Divestitures57

Acquisitions and Divestitures (Schedule of Acquired Business) (Details) - Birmingham, Alabama Store Acquisition [Member] $ in Thousands	Aug. 03, 2014USD ($)
Purchase price allocated to:
Working capital, exclusive of cash	$ (5)
Property and equipment	710
Purchase price	7,152
Company Stores [Member]
Purchase price allocated to:
Reacquired franchise rights	3,853
Goodwill	$ 2,594

Acquisitions and Divestitures58

Acquisitions and Divestitures (Asset Divestitures) (Details)	Sep. 09, 2014USD ($)stores	Oct. 31, 2014USD ($)	Jul. 31, 2013USD ($)stores	Nov. 01, 2015USD ($)	Nov. 02, 2014USD ($)	Aug. 04, 2013USD ($)stores	Nov. 01, 2015USD ($)	Nov. 02, 2014USD ($)	Feb. 03, 2013USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from refranchising								$ 1,847,000
Gain on refranchising transaction								1,247,000
Gain (loss) on sale of equipment							$ (105,000)	(212,000)
Gain on reversal of accrued rent expense				$ 50,000			$ 160,000	$ 2,000
Maryland Divestiture [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from refranchising	$ 1,800,000
Gain on refranchising transaction	$ 1,200,000
Future store locations required | stores	20
Dallas Divestiture [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of stores sold | stores			3
Proceeds from refranchising			$ 681,000
Aggregate purchase price		$ 2,100,000
Net sales attributable to refranchised stores									$ 7,000,000
Wholesale percentage of net sales									45.00%
Gain on refranchising transaction						$ 876,000
Gain (loss) on sale of equipment						462,000
Gain on reversal of accrued rent expense						$ 414,000
Leased stores to franchisee | stores						2

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Dec. 11, 2015USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Gain related to settlement of claim	$ 660,000