Big 5 Sporting Goods (BGFV) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 04, 2021	Apr. 27, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 4, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	BGFV
Entity Registrant Name	BIG 5 SPORTING GOODS CORPORATION
Entity Central Index Key	0001156388
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--01-02
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NASDAQ
Entity Address, State or Province	CA
Entity File Number	000-49850
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4388794
Entity Address, Address Line One	2525 East El Segundo Boulevard
Entity Address, City or Town	El Segundo
Entity Address, Postal Zip Code	90245
City Area Code	310
Local Phone Number	536-0611
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		22,290,210

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Current assets:
Cash and cash equivalents	$ 100,097	$ 64,654
Accounts receivable, net of allowances of $80 and $58, respectively	11,399	19,879
Merchandise inventories, net	247,287	251,180
Prepaid expenses	10,513	11,684
Total current assets	369,296	347,397
Operating lease right-of-use assets, net	271,964	278,607
Property and equipment, net	58,710	57,245
Deferred income taxes	12,532	13,831
Other assets, net of accumulated amortization of $594 and $2,407, respectively	3,610	2,914
Total assets	716,112	699,994
Current liabilities:
Accounts payable	88,613	80,882
Accrued expenses	78,351	82,877
Current portion of operating lease liabilities	73,196	73,737
Current portion of finance lease liabilities	2,664	2,089
Total current liabilities	242,824	239,585
Operating lease liabilities, less current portion	210,891	217,788
Finance lease liabilities, less current portion	4,332	2,504
Other long-term liabilities	6,865	7,479
Total liabilities	464,912	467,356
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, authorized 50,000,000 shares; issued 25,938,473 and 25,580,541 shares, respectively; outstanding 22,288,260 and 21,930,328 shares, respectively	259	255
Additional paid-in capital	122,188	121,837
Retained earnings	171,280	153,073
Less: Treasury stock, at cost; 3,650,213 shares	(42,527)	(42,527)
Total stockholders' equity	251,200	232,638
Total liabilities and stockholders' equity	$ 716,112	$ 699,994

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 80	$ 58
Accumulated amortization on other assets	$ 594	$ 2,407
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	25,938,473	25,580,541
Common stock, shares outstanding	22,288,260	21,930,328
Treasury stock, shares	3,650,213	3,650,213

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Income Statement [Abstract]
Net sales	$ 272,806	$ 217,736
Cost of sales	174,913	153,181
Gross profit	97,893	64,555
Selling and administrative expense	70,144	71,370
Operating income (loss)	27,749	(6,815)
Interest expense	342	735
Income (loss) before taxes	27,407	(7,550)
Income tax expense (benefit)	5,861	(2,939)
Net income (loss)	$ 21,546	$ (4,611)
Earnings (loss) per share:
Basic	$ 1.01	$ (0.22)
Diluted	$ 0.96	$ (0.22)
Weighted-average shares of common stock outstanding:
Basic	21,417	21,149
Diluted	22,371	21,149

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Outstanding [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock, At Cost [Member]
Beginning Balance at Dec. 29, 2019	$ 180,372		$ 252	$ 120,054	$ 102,593	$ (42,527)
Beginning Balance, Shares at Dec. 29, 2019		21,664,076
Net income (loss)	(4,611)				(4,611)
Dividends on common stock	(1,081)				(1,081)
Issuance of nonvested share awards			2	(2)
Issuance of nonvested share awards, Shares		241,600
Share-based compensation	475			475
Forfeiture of nonvested share awards, Shares		(3,755)
Retirement of common stock for payment of withholding tax	(97)			(97)
Retirement of common stock for payment of withholding tax, Shares		(64,573)
Ending Balance at Mar. 29, 2020	175,058		254	120,430	96,901	(42,527)
Ending Balance, shares at Mar. 29, 2020		21,837,348
Beginning Balance at Jan. 03, 2021	232,638		255	121,837	153,073	(42,527)
Beginning Balance, Shares at Jan. 03, 2021		21,930,328
Net income (loss)	21,546				21,546
Dividends on common stock	(3,339)				(3,339)
Issuance of nonvested share awards			2	(2)
Issuance of nonvested share awards, Shares		235,480
Exercise of share option awards	$ 976		2	974
Exercise of share option awards, Shares	196,200	196,200
Share-based compensation	$ 425			425
Forfeiture of nonvested share awards, Shares		(3,520)
Retirement of common stock for payment of withholding tax	$ (1,046)			(1,046)
Retirement of common stock for payment of withholding tax, Shares	(70,228)	(70,228)
Ending Balance at Apr. 04, 2021	$ 251,200		$ 259	$ 122,188	$ 171,280	$ (42,527)
Ending Balance, shares at Apr. 04, 2021		22,288,260

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Dividends per share	$ 0.15	$ 0.05
Retained Earnings [Member]
Dividends per share	$ 0.15	$ 0.05

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Cash flows from operating activities:
Net income (loss)	$ 21,546	$ (4,611)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	4,259	4,606
Share-based compensation	425	475
Amortization of other assets	265	83
Noncash lease expense	16,033	15,792
Proceeds from insurance recovery - lost profit margin and expenses	1,083
Gain on recovery of insurance proceeds - lost profit margin and expenses	(460)
Gain on recovery of insurance proceeds - property and equipment	(249)
Deferred income taxes	1,299	645
Changes in operating assets and liabilities:
Accounts receivable, net	7,885	5,812
Merchandise inventories, net	3,893	(3,032)
Prepaid expenses and other assets	927	1,510
Accounts payable	7,683	1,589
Operating lease liabilities	(16,828)	(16,243)
Accrued expenses and other long-term liabilities	(5,787)	(11,928)
Net cash provided by (used in) operating activities	41,974	(5,302)
Cash flows from investing activities:
Purchases of property and equipment	(1,742)	(2,342)
Proceeds from insurance recovery - property and equipment	249
Net cash used in investing activities	(1,493)	(2,342)
Cash flows from financing activities:
Borrowings under revolving credit facility		116,913
Payments under revolving credit facility		(59,197)
Changes in book overdraft	68	(11,852)
Debt issuance costs paid	(717)
Principal payments under finance lease liabilities	(931)	(951)
Proceeds from exercise of share option awards	948
Tax withholding payments for share-based compensation	(1,046)	(97)
Dividends paid	(3,360)	(1,192)
Net cash (used in) provided by financing activities	(5,038)	43,624
Net increase in cash and cash equivalents	35,443	35,980
Cash and cash equivalents at beginning of period	64,654	8,223
Cash and cash equivalents at end of period	100,097	44,203
Supplemental disclosures of non-cash investing and financing activities:
Property and equipment acquired under finance leases	3,334
Property and equipment additions unpaid	1,316	931
Supplemental disclosures of cash flow information:
Interest paid	192	$ 772
Income taxes paid	$ 6

Description of Business

Description of Business	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Description of Business	(1) Description of Business Big 5 Sporting Goods Corporation (the “Company”) is a leading sporting goods retailer in the western United States, operating 430 stores and an e-commerce platform as of April 4, 2021. The Company provides a full-line product offering in a traditional sporting goods store format that averages approximately 11,000 square feet. The Company’s product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, home recreation, tennis, golf and winter and summer recreation. The Company is a holding company that operates as one reportable segment through Big 5 Corp., its 100%-owned subsidiary, and Big 5 Services Corp., which is a 100%-owned subsidiary of Big 5 Corp. Big 5 Services Corp. provides a centralized operation for the issuance and administration of gift cards and returned merchandise credits (collectively, “stored-value cards”). The accompanying interim unaudited condensed consolidated financial statements (“Interim Financial Statements”) of the Company and its 100%-owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, these Interim Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. These Interim Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended January 3, 2021 included in the Company’s Annual Report on Form 10-K. In the opinion of management, the Interim Financial Statements included herein contain all adjustments, including normal recurring adjustments, considered necessary to present fairly the Company’s financial position, the results of operations and cash flows for the periods presented. The operating results and cash flows of the interim periods presented herein are not necessarily indicative of the results to be expected for any other interim period or the full year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Consolidation The accompanying Interim Financial Statements include the accounts of Big 5 Sporting Goods Corporation, Big 5 Corp. and Big 5 Services Corp. Intercompany balances and transactions have been eliminated in consolidation. Reporting Period The Company follows the concept of a 52-53 week fiscal year, which ends on the Sunday nearest December 31. Fiscal year 2021 is comprised of 52 weeks and ends on January 2, 2022. Fiscal year 2020 was comprised of 53 weeks and ended on January 3, 2021. The four quarters of fiscal 2021 are each comprised of 13 weeks 13 weeks 14 weeks Recently Issued Accounting Updates In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other recently issued accounting updates are not expected to have a material impact on the Company’s Interim Financial Statements. COVID-19 Impact on Concentration of Risk The novel coronavirus (“COVID-19”) pandemic has significantly impacted health and economic conditions throughout the United States and globally, as public concern about becoming ill with the virus has led to the issuance of recommendations and/or mandates from federal, state and local authorities to practice social distancing or self-quarantine. The Company primarily operates traditional sporting goods retail stores located in the western United States, with approximately 52% of its stores, along with its corporate offices and distribution center, located in California. Because of this, the Company is subject to regional risks, including the impact of the COVID-19 outbreak. Beginning on March 20, 2020, the Company temporarily closed more than one-half General Concentration of Risk The Company purchases merchandise from over 680 suppliers, and the Company’s 20 largest suppliers accounted for 36.4% of total purchases in fiscal 2020. One vendor, Nike, represented greater than 5% of total purchases, at 8.5%, in fiscal 2020 and accounted for 7.2% of the Company’s total sales in fiscal 2020. In the first quarter of fiscal 2021, the Company was informed of an expansion of Nike’s The Company Use of Estimates Management makes a number of estimates and assumptions relating to the reporting of assets, liabilities and stockholders’ equity and the disclosure of contingent assets and liabilities at the date of the Interim Financial Statements and reported amounts of revenue and expense during the reporting period to prepare these Interim Financial Statements in conformity with GAAP. Certain items subject to such estimates and assumptions include the carrying amount of merchandise inventories, property and equipment, lease assets and lease liabilities; valuation allowances for receivables, sales returns and deferred income tax assets; estimates related to stored-value cards and the valuation of share-based compensation awards; and obligations related to litigation, self-insurance liabilities and employee benefits. Due to the inherent uncertainty involved in making assumptions and estimates, events and changes in circumstances arising after April 4, 2021, including those resulting from the impacts of the COVID-19 pandemic, may result in actual outcomes that differ from those contemplated by management’s assumptions and estimates. Revenue Recognition The Company operates solely as a sporting goods retailer, which includes both retail stores and an e-commerce platform, that offers a broad range of products in the western United States and online. Generally, all revenue is recognized when control of the promised goods is transferred to customers, for an amount that reflects the consideration in exchange for those goods. Accordingly, the Company implicitly enters into a contract with customers to deliver merchandise inventory at the point of sale. Collectability is reasonably assured since the Company only extends immaterial credit purchases to certain municipalities and local school districts. In accordance with ASC 606, Revenue from Contracts with Customers 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Hardgoods $ 140,906 $ 108,774 Athletic and sport footwear 66,673 57,498 Athletic and sport apparel 63,526 49,128 Other sales 1,701 2,336 Net sales $ 272,806 $ 217,736 Substantially all of the Company’s revenue is for single performance obligations for the following distinct items: • Retail store sales • E-commerce sales • Stored-value cards For performance obligations related to retail store and e-commerce sales contracts, the Company typically transfers control, for retail stores, upon consummation of the sale when the product is paid for and taken by the customer and, for e-commerce sales, when the product is tendered for delivery to the common carrier. For performance obligations related to stored-value cards, the Company typically transfers control upon redemption of the stored-value card through consummation of a future sales transaction. The Company accounts for shipping and handling relative to e-commerce sales as fulfillment activities, and not a separate performance obligation. Accordingly, the Company recognizes revenue for only one performance obligation, the sale of the product, at shipping point (when the customer gains control). Revenue associated with e-commerce sales was not material for the 13 weeks ended April 4, 2021 and March 29, 2020. The Company recognized $1.7 million and $1.9 million in stored-value card redemption revenue for the 13 weeks ended April 4, 2021 and March 29, 2020, respectively. The Company also recognized $0.1 million in stored-value card breakage revenue for the 13 weeks ended April 4, 2021 and March 29, 2020. The Company had outstanding stored-value card liabilities of $7.0 million and $7.5 million In the accompanying interim unaudited condensed consolidated balance sheets, the Company recorded, as prepaid expense, estimated right-of-return merchandise cost of $0.9 million and $1.2 million related to estimated sales returns as of April 4, 2021 and January 3, 2021, respectively, and recorded, in accrued expenses, an allowance for sales returns reserve of $1.8 million and $2.4 million as of April 4, 2021 and January 3, 2021, respectively. Share-Based Compensation The Company accounts for its share-based compensation in accordance with ASC 718, Compensation—Stock Compensation Valuation of Merchandise Inventories, Net The Company’s merchandise inventories are made up of finished goods and are valued at the lower of cost or net realizable value using the weighted-average cost method that approximates the first-in, first-out (“FIFO”) method. Average cost includes the direct purchase price of merchandise inventory, net of vendor allowances and cash discounts, in-bound freight-related expense and allocated overhead expense associated with the Company’s distribution center. Management regularly reviews inventories and records valuation reserves for damaged and defective merchandise, merchandise items with slow-moving or obsolescence exposure and merchandise that has a carrying value that exceeds net realizable value. Because of its merchandise mix, the Company has not historically experienced significant occurrences of obsolescence. Inventory shrinkage is accrued as a percentage of merchandise sales based on historical inventory shrinkage trends. The Company performs physical inventories of its stores at least once per year and cycle counts inventories at its distribution center throughout the year. The reserve for inventory shrinkage primarily represents an estimate for inventory shrinkage for each store since the last physical inventory date through the reporting date. These reserves are estimates, which could vary significantly, either favorably or unfavorably, from actual results if future economic conditions, consumer demand and competitive environments differ from expectations. Valuation of Long-Lived Assets In accordance with ASC 360, Property, Plant, and Equipment Long-lived assets are reviewed for recoverability at the lowest level in which there are identifiable cash flows (“asset group”), usually at the store level. The carrying amount of a store asset group includes stores’ property and equipment, primarily leasehold improvements, and operating lease right-of-use (“ROU”) assets. The carrying amount of a store asset group is not considered recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the store asset group. Factors that could trigger an impairment review include a current-period operating or cash flow loss combined with a history of operating and cash flow losses, and a projection that demonstrates continuing losses or insufficient income over the remaining reasonably certain lease term associated with the use of a store asset group. Other factors may include an adverse change in the business climate or an adverse action or assessment by a regulator in the market of a store asset group. When stores are identified as having an indicator of impairment, the Company forecasts undiscounted cash flows over the store asset group’s remaining reasonably certain lease term and compares the undiscounted cash flows to the carrying amount of the store asset group. If the store asset group is determined not to be recoverable, then an impairment charge will be recognized in the amount by which the carrying amount of the store asset group exceeds its fair value, determined using discounted cash flow valuation techniques, as contemplated in ASC 820, Fair Value Measurements The Company determines the cash flows expected to result from the store asset group by projecting future revenue, gross margin and operating expense for each store asset group under evaluation for impairment. The estimates of future cash flows involve management judgment and are based upon assumptions about expected future operating performance. Assumptions used in these forecasts are consistent with internal planning, and include assumptions about sales growth rates, gross margins and operating expense in relation to the current economic environment and the Company’s future expectations, competitive factors in its various markets, inflation, sales trends and other relevant environmental factors that may impact the store under evaluation. The actual cash flows could differ from management’s estimates due to changes in business conditions, operating performance and economic conditions. If economic conditions deteriorate in the markets in which the Company conducts business, or if other negative market conditions develop, the Company may experience additional impairment charges in the future for underperforming stores. The resulting impairment charge, if any, is allocated to the property and equipment, primarily leasehold improvements, and operating lease ROU assets on a pro rata basis using the relative carrying amounts of those assets. The allocated impairment charge to a long-lived asset is limited to the extent that the impairment charge does not reduce the carrying amount of the long-lived asset below its individual fair value. The estimation of the fair value of an ROU asset involves the evaluation of current market value rental amounts for leases associated with ROU assets. The estimates of current market value rental amounts are primarily based on recent observable market rental data of other comparable retail store locations. The fair value of an ROU asset is measured using a discounted cash flow valuation technique by discounting the estimated current and future market rental values using a property-specific discount rate. The Company did not recognize any impairment charges in the first quarter of fiscal 2021 or 2020. Leases In accordance with ASC 842, Leases leases for the Company’s retail store facilities, distribution center, corporate offices, information technology hardware, and distribution center delivery tractors and equipment ROU assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the reasonably certain lease term. As the Company’s leases generally do not provide an implicit rate, the Company uses a collateralized incremental borrowing rate (“IBR”) to determine the present value of lease payments. The collateralized IBR is based on a synthetic credit rating that is externally prepared on an annual basis. This analysis considers qualitative and quantitative factors based on guidance provided by a rating agency for the consumer durables industry. The Company adjusts the selected IBR quarterly with a company-specific unsecured yield curve that approximates the Company’s market risk profile. The collateralized IBR is also based upon the estimated impact that the collateral has on the IBR. To account for the collateralized nature of the IBR, the Company utilized a notching method based on notching guidance provided by a rating agency whereby the Company’s base credit rating is notched upward as the yield curve on a secured loan is expected to be lower versus an unsecured loan. The operating lease ROU asset also includes any prepaid lease payments made and is reduced by lease incentives such as tenant improvement allowances. The operating lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense for lease payments is recognized on a straight-line basis over the lease term. Certain of the leases for the Company’s retail store facilities provide for payments based on future sales volumes at the leased location, which are not measurable at the inception of the lease. Under ASC 842, these contingent rents are expensed as they accrue. In response to the large volume of anticipated lease concessions to be granted related to the effects of the COVID-19 pandemic, and the resultant expected cost and complexity of applying the lease modification requirements in ASC 842, the FASB issued Staff Q&A—Topic 842 and Topic 840: Accounting For Lease Concessions Related to the Effects of the COVID-19 Pandemic In accordance with this interpretive guidance, the Company elected to account for lease concessions related to the effects of the COVID-19 pandemic that resulted in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract consistent with how they would be accounted for as though enforceable rights and obligations for those concessions existed in the original contract. Consequently, for such lease concessions, the Company did not reassess each existing contract to determine whether enforceable rights and obligations for concessions existed and elected not to apply the lease modification guidance in ASC 842 to those contracts. The Company accounted for its remaining lease deferrals related to COVID-19 as if no changes to the lease contract were made while continuing to recognize expense during the deferral period and deferring the payment obligation as a liability. The Company recorded remaining lease deferrals related to COVID-19 of $0.4 million and $0.6 million as of April 4, 2021 and January 3, 2021, respectively, in accrued expenses in the accompanying interim unaudited condensed consolidated balance sheets. See Note 5 to the Interim Financial Statements for a further discussion on leases.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 04, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	(3) Fair Value Measurements The carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate the fair values of these instruments due to their short-term nature. The carrying amount for borrowings, if any, under the Company’s credit facility approximates fair value because of the variable market interest rate charged to the Company for these borrowings. When the Company recognizes impairment on certain of its underperforming stores, the carrying values of these stores are reduced to their estimated fair values. As of April 4, 2021 and January 3, 2021, the Company’s only significant assets or liabilities measured at fair value on a nonrecurring basis subsequent to their initial recognition were assets subject to long-lived asset impairment related to certain underperforming stores. The Company estimated the fair values of these long-lived assets based on the Company’s own judgments about the assumptions that market participants would use in pricing the asset and on observable real estate market data of underperforming stores’ specific comparable markets, when available.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Apr. 04, 2021
Payables And Accruals [Abstract]
Accrued Expenses	(4) Accrued Expenses The major components of accrued expenses are as follows: April 4, 2021 January 3, 2021 (In thousands) Payroll and related expense $ 32,202 $ 37,826 Occupancy expense 10,403 10,215 Sales tax 9,938 11,609 Other 25,808 23,227 Accrued expenses $ 78,351 $ 82,877 Payroll and related expense as of April 4, 2021 and January 3, 2021 reflected a deferral of the employer portion of Social Security tax provided by the U.S. Coronavirus Aid, Relief and Economic Security Act, which allowed employers to defer their portion of the social security payroll tax otherwise due with respect to wages earned from March 27, 2020 through December 31, 2020.

Lease Commitments

Lease Commitments	3 Months Ended
	Apr. 04, 2021
Leases [Abstract]
Lease Commitments	(5) Lease Commitments The Company has operating and finance leases for the Company’s retail store facilities, distribution center, corporate offices, information technology hardware and distribution center delivery tractors and equipment, and accounts for these leases in accordance with ASC 842. Certain of the leases for the Company’s retail store facilities provide for variable payments for property taxes, insurance, common area maintenance payments related to triple net leases, rental payments based on future sales volumes at the leased location, as well as certain equipment sales taxes, licenses, fees and repairs, or rental payments that are adjusted periodically for inflation. The Company recognizes variable lease expense for these leases in the period incurred which, for contingent rent, begins in the period in which it becomes probable that the specified target that triggers the variable lease payments will be achieved. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. In accordance with ASC 842, the components of lease expense were as follows: 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Lease expense: Amortization of right-of-use assets $ 649 $ 722 Interest on lease liabilities 59 89 Finance lease expense 708 811 Operating lease expense 20,336 20,287 Variable lease expense 4,492 4,124 Sublease income (78 ) (293 ) Total lease expense $ 25,458 $ 24,929 In accordance with ASC 842, other information related to leases was as follows: 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Operating cash flows from operating leases $ 22,145 $ 20,742 Operating cash flows from finance leases 60 112 Financing cash flows from finance leases 931 951 Cash paid for amounts included in the measurement of lease liabilities $ 23,136 $ 21,805 Right-of-use assets obtained in exchange for new finance lease liabilities $ 3,334 $ — Right-of-use assets obtained in exchange for new operating lease liabilities $ 9,446 $ 23,282 Weighted-average remaining lease term—finance leases 3.5 years 3.0 years Weighted-average remaining lease term—operating leases 4.9 years 5.2 years Weighted-average discount rate—finance leases 3.7 % 4.7 % Weighted-average discount rate—operating leases 5.9 % 6.1 % In accordance with ASC 842, maturities of finance and operating lease liabilities as of April 4, 2021 were as follows: Year Ending: Finance Leases Operating Leases (In thousands) 2021 (remaining nine months) $ 1,898 $ 64,078 2022 2,451 75,954 2023 1,599 59,910 2024 711 51,230 2025 341 34,803 Thereafter 388 41,831 Undiscounted cash flows $ 7,388 $ 327,806 Reconciliation of lease liabilities: Weighted-average remaining lease term 3.5 years 4.9 years Weighted-average discount rate 3.7 % 5.9 % Present values $ 6,996 $ 284,087 Lease liabilities - current 2,664 73,196 Lease liabilities - long-term 4,332 210,891 Lease liabilities - total $ 6,996 $ 284,087 Difference between undiscounted and discounted cash flows $ 392 $ 43,719

Long-Term Debt

Long-Term Debt	3 Months Ended
	Apr. 04, 2021
Debt Disclosure [Abstract]
Long-Term Debt	(6) Long-Term Debt The Company, Big 5 Corp. and Big 5 Services Corp. were parties to a credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and a syndicate of other lenders, as amended (the “Prior Credit Agreement”), which was terminated and replaced on February 24, 2021, as discussed below. On February 24, 2021, the Company entered into a Loan, Guaranty and Security Agreement with Bank of America, N.A. (“BofA”), as agent and lender (the “Loan Agreement”), at which time the Prior Credit Agreement was terminated. The Loan Agreement has a maturity date of February 24, 2026 and provides for a revolving credit facility with an aggregate committed availability of up to $150.0 million. The Company may also request additional increases in aggregate availability, up to a maximum of $200.0 million, in which case the existing lenders under the Loan Agreement will have the option to increase the commitment to accommodate the requested increase. If such existing lenders do not exercise that option, the Company may (with the consent of BofA in its role as the administrative agent, not to be unreasonably withheld) seek other lenders willing to provide such commitments. The credit facility includes a $50.0 million sublimit for issuances of letters of credit. Similar to the Prior Credit Agreement, the Company may borrow under the Loan Agreement from time to time, provided the amounts outstanding will not exceed the lesser of the then aggregate committed availability (as discussed above) and the Borrowing Base (such lesser amount being referred to as the “Line Cap”). As defined in the Loan Agreement, the “Borrowing Base” generally is comprised of the sum, at the time of calculation, of (a) 90.00% of eligible credit card receivables; plus (b) the cost of eligible inventory (other than eligible in-transit inventory), net of inventory reserves, multiplied by 90.00% of the appraised net orderly liquidation value of eligible inventory (expressed as a percentage of the cost of eligible inventory); plus (c) the cost of eligible in-transit inventory, net of inventory reserves, multiplied by 90.00% of the appraised net orderly liquidation value of eligible in-transit inventory (expressed as a percentage of the cost of eligible in-transit inventory), minus (d) certain agreed-upon reserves as well as other reserves established by BofA in its role as the administrative agent in its reasonable discretion. Generally, the Company may designate specific borrowings under the Loan Agreement as either base rate loans or LIBO rate loans. The applicable interest rate on the Company’s borrowings is a function of the daily average, over the preceding fiscal quarter, of the excess of the Line Cap over amounts borrowed (such amount being referred to as the “Average Daily Availability”). Those loans designated as LIBO rate loans bear interest at a rate equal to the then applicable adjusted LIBO rate plus an applicable margin as shown in the table below. Those loans designated as base rate loans bear interest at a rate equal to the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the LIBO rate, plus one percentage point (1.00%), or (c) the rate of interest in effect for such day as announced from time to time within BofA as its “prime rate.” The applicable margin for all loans is a function of Average Daily Availability for the preceding fiscal quarter as set forth below. Level Average Daily Availability LIBO Rate Applicable Margin Base Rate Applicable Margin I Greater than or equal to $70,000,000 1.375% 0.375% II Less than $70,000,000 1.500% 0.500% The commitment fee assessed on the unused portion of the credit facility is 0.20% per annum. Obligations under the Loan Agreement are secured by a general lien on and security interest in substantially all of the Company’s assets. The Loan Agreement contains covenants that require the Company to maintain a fixed charge coverage ratio of not less than 1.0 As previously disclosed, the Prior Credit Agreement had a maturity date of September 29, 2022 and, as amended, provided for a line of credit up to $140.0 million, which amount could be increased at the Company’s option up to a maximum of $165.0 million. The Company could also request additional increases in aggregate availability, on an uncommitted basis up to a maximum of $200.0 million. O one-half Level Average Daily Availability LIBO Rate Applicable Margin Base Rate Applicable Margin I Greater than or equal to $70,000,000 1.250% 0.250% II Less than $70,000,000 1.375% 0.500% The commitment fee assessed on the unused portion of the credit facility under the Prior Credit Agreement was 0.20% per annum. In the first quarter of fiscal 2021, the Company paid and capitalized $0.7 million in new creditor and third-party fees associated with the Loan Agreement, which will be amortized over the term of the Loan Agreement, and extinguished $0.2 million of deferred financing fees associated with the Prior Credit Agreement. As of April 4, 2021 and January 3, 2021, the Company had no long-term revolving credit borrowings outstanding. As of April 4, 2021 and January 3, 2021, the Company had letter of credit commitments of $1.1 million and $2.6 million outstanding, respectively. Total remaining borrowing availability, after subtracting letters of credit, was $148.9 million and $162.4 million as of April 4, 2021 and January 3, 2021, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes Under the asset and liability method prescribed under ASC 740, Income Taxes The Company files a consolidated federal income tax return and files tax returns in various state and local jurisdictions. The statutes of limitations for consolidated federal income tax returns are open for fiscal years 2017 and after, and state and local income tax returns are open for fiscal years 2016 and after. The provision for income taxes for the 13 weeks ended April 4, 2021 reflects a $0.2 million favorable reduction of our previously established valuation allowance related to unused California Enterprise Zone Tax Credits and a $0.2 million disaster recovery credit related to fires in California. T On March 27, 2020, the Federal government enacted the U.S. Coronavirus Aid, Relief and Economic Security (“CARES”) Act to provide relief from the impact of COVID-19. Among other relief, the CARES Act allows companies with a net operating loss (“NOL”) in either 2018, 2019 or 2020 to carry back those losses five years. As a result, the Company amended its 2018 income tax return to carry back its 2018 NOL to a period with a higher statutory tax rate in effect at that time, which is reflected in the Company’s effective tax rate in the first quarter of fiscal 2020. As of April 4, 2021 and January 3, 2021, the Company had no unrecognized tax benefits including those that, if recognized, would affect the Company’s effective income tax rate over the next 12 months. The Company’s policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expense. As of April 4, 2021 and January 3, 2021, the Company had no accrued interest or penalties.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 04, 2021
Earnings Per Share [Abstract]
Earnings Per Share	(8) Earnings Per Share The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share The following table sets forth the computation of basic and diluted earnings per common share: 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands, except per share data) Net income (loss) $ 21,546 $ (4,611 ) Weighted-average shares of common stock outstanding: Basic 21,417 21,149 Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards 954 — Diluted 22,371 21,149 Basic earnings (loss) per share $ 1.01 $ (0.22 ) Diluted earnings (loss) per share $ 0.96 $ (0.22 ) Antidilutive share option awards excluded from diluted calculation 28 602 Antidilutive nonvested share and nonvested share unit awards excluded from diluted calculation 57 554 The computation of diluted earnings per share for the 13 weeks ended April 4, 2021 does not include certain share option awards that were outstanding and antidilutive (i.e., including such share option awards would result in higher earnings per share), since the exercise prices of these share option awards exceeded the average market price of the Company’s common shares. The computation of diluted earnings per share for the 13 weeks ended March 29, 2020 excludes all potential share option awards since the Company reported a net loss, and the effect of their inclusion would have been antidilutive. The computation of diluted earnings per share for the 13 weeks ended April 4, 2021 does not include certain nonvested share awards and nonvested share unit awards that were outstanding and antidilutive, since the grant date fair values of these nonvested share awards and nonvested share unit awards exceeded the average market price of the Company’s common shares. The computation of diluted earnings per share for the 13 weeks ended March 29, 2020 excludes all potential nonvested share awards and nonvested share unit awards since the Company reported a net loss, and the effect of their inclusion would have been antidilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 04, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(9) Commitments and Contingencies Recovery of Insurance Proceeds In the second quarter of fiscal 2020, seven of the Company’s stores were damaged and qualified for loss recovery claims as a result of civil unrest, and the Company disposed of assets of approximately $0.6 million related to lost inventory and property and equipment. In the first quarter of fiscal 2021, the Company reached an agreement with its insurance carrier and, after application of a deductible of $0.3 million, the Company received a cash insurance recovery of $1.3 million in total, of which $1.0 million related to the reimbursement of lost inventory and profit margin, $0.2 million related to the reimbursement of property and equipment, and $0.1 million related to a reimbursement for business interruption. Accordingly, the Company recognized gains of $0.5 million related to the recovery of lost profit margin and business interruption, and $0.2 million related to the recovery of property and equipment. The gain related to the recovery of lost profit margin and business interruption is included in the accompanying consolidated statement of operations as a reduction to cost of goods sold, and the gain related to the recovery of lost property and equipment is included in the accompanying consolidated statement of operations as a reduction to selling and administrative expense for fiscal 2021. The Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s results of operations or financial condition.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Apr. 04, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based Compensation	(10) Share-based Compensation In April 2019, the Company adopted the 2019 Equity Incentive Plan (the “2019 Plan”) and stopped making grants under its 2007 Equity and Performance Incentive Plan, as amended and restated in April 2011 and April 2016 (the “2007 Plan”). As of April 4, 2021, 1,880,396 shares remained available for future grant under the 2019 Plan. At its discretion, the Company grants share option awards, nonvested share awards and nonvested share unit awards to certain employees, as defined by ASC 718, Compensation—Stock Compensation Share Option Awards Share option awards granted by the Company generally vest and become exercisable in four equal annual installments of 25% per year with a maximum life of ten years. The exercise price of share option awards is equal to the quoted market price of the Company’s common stock on the date of grant. No share option awards were granted in the first quarter of fiscal 2021. In the first quarter of fiscal 2020, the Company granted 257,000 share option awards with a weighted-average grant-date fair value of $1.25 per share option award. A summary of the status of the Company’s share option awards is presented below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding at January 3, 2021 742,800 $ 4.62 Exercised (196,200 ) 4.98 Outstanding at April 4, 2021 546,600 $ 4.49 7.77 $ 6,608,776 Exercisable at April 4, 2021 167,887 $ 6.98 6.60 $ 1,652,228 Vested and Expected to Vest at April 4, 2021 538,806 $ 4.52 7.75 $ 6,501,621 The aggregate intrinsic value represents the total pretax intrinsic value, based upon the Company’s most recent closing stock price of $16.48 as of April 4, 2021, which would have been received by the share option award holders had all share option award holders exercised their share option awards as of that date. The fair value of each share option award on the date of grant is estimated using the Black-Scholes method based on the following weighted-average assumptions: 13 Weeks Ended April 4, 2021 March 29, 2020 Risk-free interest rate — 0.9 % Expected term — 5.7 years Expected volatility — 63.0 % Expected dividend yield — — The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected term of the option award; the expected term represents the weighted-average period of time that option awards granted are expected to be outstanding giving consideration to vesting schedules and historical participant exercise behavior; the expected volatility is based upon historical volatility of the Company’s common stock; and the expected dividend yield is based upon the Company’s current dividend rate. In order to support its liquidity initiatives throughout the organization as a result of the COVID-19 outbreak, early in the second quarter of fiscal 2020 the Company’s Board of Directors suspended its quarterly cash dividend. Due to the uncertainty of future dividend payments when share option awards were granted in the first quarter of fiscal 2020, the Company used zero as the expected dividend yield assumption for share option awards granted at that time. As of April 4, 2021, there was $0.4 million of total unrecognized compensation expense related to share option awards granted. That expense is expected to be recognized over a weighted-average period of 2.3 years. Nonvested Share Awards and Nonvested Share Unit Awards Nonvested share awards and nonvested share unit awards granted by the Company vest for employees from the date of grant in four equal annual installments of 25% per year. Nonvested share awards and nonvested share unit awards granted by the Company to non-employee directors for their service as directors, as defined by ASC 718, vest 100% on the earlier of (a) the date of the Company’s next annual stockholders meeting following the grant date, or (b) the first anniversary of the grant date. Nonvested share awards become outstanding when granted and are delivered to the recipient upon their vesting. Shares issuable related to nonvested share unit awards, including any dividend reinvestments, are delivered to the recipient on the tenth business day of January following the year in which the recipient’s service to the Company is terminated, at which time the units convert to shares and become outstanding. The total fair value of nonvested share awards which vested during the first quarter of fiscal 2021 and 2020 was $2.8 million and $0.3 million, respectively. No nonvested share unit awards vested during the first quarter of fiscal 2021 or 2020. The Company granted 235,480 and 241,600 nonvested share awards in the first quarter of fiscal 2021 and 2020, respectively. The weighted-average grant-date fair value per share of the Company’s nonvested share awards granted in the first quarter of fiscal 2021 and 2020 was $14.89 and $1.50, respectively. A summary of the status of the Company’s nonvested share awards is presented below: Shares Weighted- Average Grant- Date Fair Value Balance at January 3, 2021 591,325 $ 3.79 Granted 235,480 14.89 Vested (188,550 ) 5.91 Forfeited (3,520 ) 4.03 Balance at April 4, 2021 634,735 $ 7.28 To satisfy employee minimum statutory tax withholding requirements for nonvested share awards that vest, the Company withholds and retires a portion of the vesting common shares, unless an employee elects to pay cash. In the first quarter of fiscal 2021, the Company withheld 70,228 common shares with a total value of $1.0 million. This amount is presented as a cash outflow from financing activities in the accompanying interim unaudited condensed consolidated statement of cash flows. A summary of the status of the Company’s nonvested share unit awards is presented below: Units Weighted- Average Grant- Date Fair Value Balance at January 3, 2021 41,160 $ 1.91 Dividend reinvestments 2,574 14.73 Dividend reinvestments vested (2,155 ) 14.73 Balance at April 4, 2021 41,579 $ 2.04 As of April 4, 2021, there was $4.2 million and $15,000 of total unrecognized compensation expense related to nonvested share awards and nonvested share unit awards, respectively. That expense is expected to be recognized over a weighted-average period of 2.7 and 0.2 years for nonvested share awards and nonvested share unit awards, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 04, 2021
Subsequent Events [Abstract]
Subsequent Events	(11) Subsequent Events On April 29, 2021, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.18 per share of outstanding common stock, which will be paid on June 15, 2021 to stockholders of record as of June 1, 2021, and declared a special cash dividend of $1.00 per share of outstanding common stock, which will be paid on June 1, 2021 to stockholders of record as of May 17, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Consolidation	Consolidation The accompanying Interim Financial Statements include the accounts of Big 5 Sporting Goods Corporation, Big 5 Corp. and Big 5 Services Corp. Intercompany balances and transactions have been eliminated in consolidation.
Reporting Period	Reporting Period The Company follows the concept of a 52-53 week fiscal year, which ends on the Sunday nearest December 31. Fiscal year 2021 is comprised of 52 weeks and ends on January 2, 2022. Fiscal year 2020 was comprised of 53 weeks and ended on January 3, 2021. The four quarters of fiscal 2021 are each comprised of 13 weeks 13 weeks 14 weeks
Recently Issued Accounting Updates	Recently Issued Accounting Updates In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)—Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other recently issued accounting updates are not expected to have a material impact on the Company’s Interim Financial Statements.
COVID-19 Impact on Concentration of Risk	COVID-19 Impact on Concentration of Risk The novel coronavirus (“COVID-19”) pandemic has significantly impacted health and economic conditions throughout the United States and globally, as public concern about becoming ill with the virus has led to the issuance of recommendations and/or mandates from federal, state and local authorities to practice social distancing or self-quarantine. The Company primarily operates traditional sporting goods retail stores located in the western United States, with approximately 52% of its stores, along with its corporate offices and distribution center, located in California. Because of this, the Company is subject to regional risks, including the impact of the COVID-19 outbreak. Beginning on March 20, 2020, the Company temporarily closed more than one-half General Concentration of Risk The Company purchases merchandise from over 680 suppliers, and the Company’s 20 largest suppliers accounted for 36.4% of total purchases in fiscal 2020. One vendor, Nike, represented greater than 5% of total purchases, at 8.5%, in fiscal 2020 and accounted for 7.2% of the Company’s total sales in fiscal 2020. In the first quarter of fiscal 2021, the Company was informed of an expansion of Nike’s The Company
Use of Estimates	Use of Estimates Management makes a number of estimates and assumptions relating to the reporting of assets, liabilities and stockholders’ equity and the disclosure of contingent assets and liabilities at the date of the Interim Financial Statements and reported amounts of revenue and expense during the reporting period to prepare these Interim Financial Statements in conformity with GAAP. Certain items subject to such estimates and assumptions include the carrying amount of merchandise inventories, property and equipment, lease assets and lease liabilities; valuation allowances for receivables, sales returns and deferred income tax assets; estimates related to stored-value cards and the valuation of share-based compensation awards; and obligations related to litigation, self-insurance liabilities and employee benefits. Due to the inherent uncertainty involved in making assumptions and estimates, events and changes in circumstances arising after April 4, 2021, including those resulting from the impacts of the COVID-19 pandemic, may result in actual outcomes that differ from those contemplated by management’s assumptions and estimates.
Revenue Recognition	Revenue Recognition The Company operates solely as a sporting goods retailer, which includes both retail stores and an e-commerce platform, that offers a broad range of products in the western United States and online. Generally, all revenue is recognized when control of the promised goods is transferred to customers, for an amount that reflects the consideration in exchange for those goods. Accordingly, the Company implicitly enters into a contract with customers to deliver merchandise inventory at the point of sale. Collectability is reasonably assured since the Company only extends immaterial credit purchases to certain municipalities and local school districts. In accordance with ASC 606, Revenue from Contracts with Customers 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Hardgoods $ 140,906 $ 108,774 Athletic and sport footwear 66,673 57,498 Athletic and sport apparel 63,526 49,128 Other sales 1,701 2,336 Net sales $ 272,806 $ 217,736 Substantially all of the Company’s revenue is for single performance obligations for the following distinct items: • Retail store sales • E-commerce sales • Stored-value cards For performance obligations related to retail store and e-commerce sales contracts, the Company typically transfers control, for retail stores, upon consummation of the sale when the product is paid for and taken by the customer and, for e-commerce sales, when the product is tendered for delivery to the common carrier. For performance obligations related to stored-value cards, the Company typically transfers control upon redemption of the stored-value card through consummation of a future sales transaction. The Company accounts for shipping and handling relative to e-commerce sales as fulfillment activities, and not a separate performance obligation. Accordingly, the Company recognizes revenue for only one performance obligation, the sale of the product, at shipping point (when the customer gains control). Revenue associated with e-commerce sales was not material for the 13 weeks ended April 4, 2021 and March 29, 2020. The Company recognized $1.7 million and $1.9 million in stored-value card redemption revenue for the 13 weeks ended April 4, 2021 and March 29, 2020, respectively. The Company also recognized $0.1 million in stored-value card breakage revenue for the 13 weeks ended April 4, 2021 and March 29, 2020. The Company had outstanding stored-value card liabilities of $7.0 million and $7.5 million In the accompanying interim unaudited condensed consolidated balance sheets, the Company recorded, as prepaid expense, estimated right-of-return merchandise cost of $0.9 million and $1.2 million related to estimated sales returns as of April 4, 2021 and January 3, 2021, respectively, and recorded, in accrued expenses, an allowance for sales returns reserve of $1.8 million and $2.4 million as of April 4, 2021 and January 3, 2021, respectively.
Share-Based Compensation	Share-Based Compensation The Company accounts for its share-based compensation in accordance with ASC 718, Compensation—Stock Compensation
Valuation of Merchandise Inventories, Net	Valuation of Merchandise Inventories, Net The Company’s merchandise inventories are made up of finished goods and are valued at the lower of cost or net realizable value using the weighted-average cost method that approximates the first-in, first-out (“FIFO”) method. Average cost includes the direct purchase price of merchandise inventory, net of vendor allowances and cash discounts, in-bound freight-related expense and allocated overhead expense associated with the Company’s distribution center. Management regularly reviews inventories and records valuation reserves for damaged and defective merchandise, merchandise items with slow-moving or obsolescence exposure and merchandise that has a carrying value that exceeds net realizable value. Because of its merchandise mix, the Company has not historically experienced significant occurrences of obsolescence. Inventory shrinkage is accrued as a percentage of merchandise sales based on historical inventory shrinkage trends. The Company performs physical inventories of its stores at least once per year and cycle counts inventories at its distribution center throughout the year. The reserve for inventory shrinkage primarily represents an estimate for inventory shrinkage for each store since the last physical inventory date through the reporting date. These reserves are estimates, which could vary significantly, either favorably or unfavorably, from actual results if future economic conditions, consumer demand and competitive environments differ from expectations.
Valuation of Long-Lived Assets	Valuation of Long-Lived Assets In accordance with ASC 360, Property, Plant, and Equipment Long-lived assets are reviewed for recoverability at the lowest level in which there are identifiable cash flows (“asset group”), usually at the store level. The carrying amount of a store asset group includes stores’ property and equipment, primarily leasehold improvements, and operating lease right-of-use (“ROU”) assets. The carrying amount of a store asset group is not considered recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the store asset group. Factors that could trigger an impairment review include a current-period operating or cash flow loss combined with a history of operating and cash flow losses, and a projection that demonstrates continuing losses or insufficient income over the remaining reasonably certain lease term associated with the use of a store asset group. Other factors may include an adverse change in the business climate or an adverse action or assessment by a regulator in the market of a store asset group. When stores are identified as having an indicator of impairment, the Company forecasts undiscounted cash flows over the store asset group’s remaining reasonably certain lease term and compares the undiscounted cash flows to the carrying amount of the store asset group. If the store asset group is determined not to be recoverable, then an impairment charge will be recognized in the amount by which the carrying amount of the store asset group exceeds its fair value, determined using discounted cash flow valuation techniques, as contemplated in ASC 820, Fair Value Measurements The Company determines the cash flows expected to result from the store asset group by projecting future revenue, gross margin and operating expense for each store asset group under evaluation for impairment. The estimates of future cash flows involve management judgment and are based upon assumptions about expected future operating performance. Assumptions used in these forecasts are consistent with internal planning, and include assumptions about sales growth rates, gross margins and operating expense in relation to the current economic environment and the Company’s future expectations, competitive factors in its various markets, inflation, sales trends and other relevant environmental factors that may impact the store under evaluation. The actual cash flows could differ from management’s estimates due to changes in business conditions, operating performance and economic conditions. If economic conditions deteriorate in the markets in which the Company conducts business, or if other negative market conditions develop, the Company may experience additional impairment charges in the future for underperforming stores. The resulting impairment charge, if any, is allocated to the property and equipment, primarily leasehold improvements, and operating lease ROU assets on a pro rata basis using the relative carrying amounts of those assets. The allocated impairment charge to a long-lived asset is limited to the extent that the impairment charge does not reduce the carrying amount of the long-lived asset below its individual fair value. The estimation of the fair value of an ROU asset involves the evaluation of current market value rental amounts for leases associated with ROU assets. The estimates of current market value rental amounts are primarily based on recent observable market rental data of other comparable retail store locations. The fair value of an ROU asset is measured using a discounted cash flow valuation technique by discounting the estimated current and future market rental values using a property-specific discount rate. The Company did not recognize any impairment charges in the first quarter of fiscal 2021 or 2020.
Leases	Leases In accordance with ASC 842, Leases leases for the Company’s retail store facilities, distribution center, corporate offices, information technology hardware, and distribution center delivery tractors and equipment ROU assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the reasonably certain lease term. As the Company’s leases generally do not provide an implicit rate, the Company uses a collateralized incremental borrowing rate (“IBR”) to determine the present value of lease payments. The collateralized IBR is based on a synthetic credit rating that is externally prepared on an annual basis. This analysis considers qualitative and quantitative factors based on guidance provided by a rating agency for the consumer durables industry. The Company adjusts the selected IBR quarterly with a company-specific unsecured yield curve that approximates the Company’s market risk profile. The collateralized IBR is also based upon the estimated impact that the collateral has on the IBR. To account for the collateralized nature of the IBR, the Company utilized a notching method based on notching guidance provided by a rating agency whereby the Company’s base credit rating is notched upward as the yield curve on a secured loan is expected to be lower versus an unsecured loan. The operating lease ROU asset also includes any prepaid lease payments made and is reduced by lease incentives such as tenant improvement allowances. The operating lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense for lease payments is recognized on a straight-line basis over the lease term. Certain of the leases for the Company’s retail store facilities provide for payments based on future sales volumes at the leased location, which are not measurable at the inception of the lease. Under ASC 842, these contingent rents are expensed as they accrue. In response to the large volume of anticipated lease concessions to be granted related to the effects of the COVID-19 pandemic, and the resultant expected cost and complexity of applying the lease modification requirements in ASC 842, the FASB issued Staff Q&A—Topic 842 and Topic 840: Accounting For Lease Concessions Related to the Effects of the COVID-19 Pandemic In accordance with this interpretive guidance, the Company elected to account for lease concessions related to the effects of the COVID-19 pandemic that resulted in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract consistent with how they would be accounted for as though enforceable rights and obligations for those concessions existed in the original contract. Consequently, for such lease concessions, the Company did not reassess each existing contract to determine whether enforceable rights and obligations for concessions existed and elected not to apply the lease modification guidance in ASC 842 to those contracts. The Company accounted for its remaining lease deferrals related to COVID-19 as if no changes to the lease contract were made while continuing to recognize expense during the deferral period and deferring the payment obligation as a liability. The Company recorded remaining lease deferrals related to COVID-19 of $0.4 million and $0.6 million as of April 4, 2021 and January 3, 2021, respectively, in accrued expenses in the accompanying interim unaudited condensed consolidated balance sheets. See Note 5 to the Interim Financial Statements for a further discussion on leases.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Summary of Disaggregates Net Sales into Major Merchandise Categories to Depict Nature and Amount of Revenue and Related Cash Flows	In accordance with ASC 606, Revenue from Contracts with Customers 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Hardgoods $ 140,906 $ 108,774 Athletic and sport footwear 66,673 57,498 Athletic and sport apparel 63,526 49,128 Other sales 1,701 2,336 Net sales $ 272,806 $ 217,736

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Apr. 04, 2021
Payables And Accruals [Abstract]
Summary of Accrued Expenses	The major components of accrued expenses are as follows: April 4, 2021 January 3, 2021 (In thousands) Payroll and related expense $ 32,202 $ 37,826 Occupancy expense 10,403 10,215 Sales tax 9,938 11,609 Other 25,808 23,227 Accrued expenses $ 78,351 $ 82,877

Lease Commitments (Tables)

Lease Commitments (Tables)	3 Months Ended
	Apr. 04, 2021
Leases [Abstract]
Summary of Components of Lease Expense	In accordance with ASC 842, the components of lease expense were as follows: 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Lease expense: Amortization of right-of-use assets $ 649 $ 722 Interest on lease liabilities 59 89 Finance lease expense 708 811 Operating lease expense 20,336 20,287 Variable lease expense 4,492 4,124 Sublease income (78 ) (293 ) Total lease expense $ 25,458 $ 24,929
Schedule of Other Information Related To Leases	In accordance with ASC 842, other information related to leases was as follows: 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands) Operating cash flows from operating leases $ 22,145 $ 20,742 Operating cash flows from finance leases 60 112 Financing cash flows from finance leases 931 951 Cash paid for amounts included in the measurement of lease liabilities $ 23,136 $ 21,805 Right-of-use assets obtained in exchange for new finance lease liabilities $ 3,334 $ — Right-of-use assets obtained in exchange for new operating lease liabilities $ 9,446 $ 23,282 Weighted-average remaining lease term—finance leases 3.5 years 3.0 years Weighted-average remaining lease term—operating leases 4.9 years 5.2 years Weighted-average discount rate—finance leases 3.7 % 4.7 % Weighted-average discount rate—operating leases 5.9 % 6.1 %
Schedule of Maturities For Finance And Operating Leases	In accordance with ASC 842, maturities of finance and operating lease liabilities as of April 4, 2021 were as follows: Year Ending: Finance Leases Operating Leases (In thousands) 2021 (remaining nine months) $ 1,898 $ 64,078 2022 2,451 75,954 2023 1,599 59,910 2024 711 51,230 2025 341 34,803 Thereafter 388 41,831 Undiscounted cash flows $ 7,388 $ 327,806 Reconciliation of lease liabilities: Weighted-average remaining lease term 3.5 years 4.9 years Weighted-average discount rate 3.7 % 5.9 % Present values $ 6,996 $ 284,087 Lease liabilities - current 2,664 73,196 Lease liabilities - long-term 4,332 210,891 Lease liabilities - total $ 6,996 $ 284,087 Difference between undiscounted and discounted cash flows $ 392 $ 43,719

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Apr. 04, 2021
Loan, Guaranty and Security Agreement [Member]
Average Daily Excess Availability for Preceding Fiscal Quarter	The applicable margin for all loans is a function of Average Daily Availability for the preceding fiscal quarter as set forth below. Level Average Daily Availability LIBO Rate Applicable Margin Base Rate Applicable Margin I Greater than or equal to $70,000,000 1.375% 0.375% II Less than $70,000,000 1.500% 0.500%
Prior Credit Agreement [Member]
Average Daily Excess Availability for Preceding Fiscal Quarter	Under the Prior Credit Agreement, the applicable margin for all loans was a function of Average Daily Availability for the preceding fiscal quarter as set forth below. Level Average Daily Availability LIBO Rate Applicable Margin Base Rate Applicable Margin I Greater than or equal to $70,000,000 1.250% 0.250% II Less than $70,000,000 1.375% 0.500%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 04, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Common Share	The following table sets forth the computation of basic and diluted earnings per common share: 13 Weeks Ended April 4, 2021 March 29, 2020 (In thousands, except per share data) Net income (loss) $ 21,546 $ (4,611 ) Weighted-average shares of common stock outstanding: Basic 21,417 21,149 Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards 954 — Diluted 22,371 21,149 Basic earnings (loss) per share $ 1.01 $ (0.22 ) Diluted earnings (loss) per share $ 0.96 $ (0.22 ) Antidilutive share option awards excluded from diluted calculation 28 602 Antidilutive nonvested share and nonvested share unit awards excluded from diluted calculation 57 554

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Apr. 04, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Share Option Awards	A summary of the status of the Company’s share option awards is presented below: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding at January 3, 2021 742,800 $ 4.62 Exercised (196,200 ) 4.98 Outstanding at April 4, 2021 546,600 $ 4.49 7.77 $ 6,608,776 Exercisable at April 4, 2021 167,887 $ 6.98 6.60 $ 1,652,228 Vested and Expected to Vest at April 4, 2021 538,806 $ 4.52 7.75 $ 6,501,621
Weighted-Average Assumptions Used to Estimate the Fair Value of Each Share Option Award	The fair value of each share option award on the date of grant is estimated using the Black-Scholes method based on the following weighted-average assumptions: 13 Weeks Ended April 4, 2021 March 29, 2020 Risk-free interest rate — 0.9 % Expected term — 5.7 years Expected volatility — 63.0 % Expected dividend yield — —
Summary of Nonvested Share Awards Activity	A summary of the status of the Company’s nonvested share awards is presented below: Shares Weighted- Average Grant- Date Fair Value Balance at January 3, 2021 591,325 $ 3.79 Granted 235,480 14.89 Vested (188,550 ) 5.91 Forfeited (3,520 ) 4.03 Balance at April 4, 2021 634,735 $ 7.28 A summary of the status of the Company’s nonvested share unit awards is presented below: Units Weighted- Average Grant- Date Fair Value Balance at January 3, 2021 41,160 $ 1.91 Dividend reinvestments 2,574 14.73 Dividend reinvestments vested (2,155 ) 14.73 Balance at April 4, 2021 41,579 $ 2.04

Description of Business - Addit

Description of Business - Additional Information (Detail)	3 Months Ended
	Apr. 04, 2021ft²StoreSegment
Description Of Business [Line Items]
Number of operating stores | Store	430
Area of traditional sporting goods store | ft²	11,000
Number of reportable segment | Segment	1
Big 5 Corp [Member]
Description Of Business [Line Items]
Subsidiary interest ownership percentage	100.00%
Big 5 Service Corp [Member] | Big 5 Corp [Member]
Description Of Business [Line Items]
Subsidiary interest ownership percentage	100.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	Mar. 20, 2020	Apr. 04, 2021USD ($)	Mar. 29, 2020USD ($)	Jan. 03, 2021USD ($)Supplier
Accounting Policies [Line Items]
Reporting period, minimum		364 days
Reporting period, maximum		371 days
Concentration risk, suppliers | Supplier				680
Concentration risk, largest supplier | Supplier				20
Suppliers accounted for total purchases				36.40%
Vendor represented greater than of total purchases | Supplier				1
Number of performance obligation		one
Stored value card redemption revenue recognized		$ 1,700,000	$ 1,900,000
Outstanding stored value card liabilities		$ 7,000,000		$ 7,500,000
Stored value cards redeemed period		2 years
Impairment charges		$ 0	0
Merchandise [Member] | Accounting Standards Update 2014-09 | ASC 606 [Member]
Accounting Policies [Line Items]
Estimated right of return related to estimated sales returns		900,000		1,200,000
Allowance for sales returns reserve		1,800,000		$ 2,400,000
Stored Value Card Breakage Revenue [Member]
Accounting Policies [Line Items]
Recognized stored value card breakage revenue		100,000	$ 100,000
Nike [Member]
Accounting Policies [Line Items]
Suppliers accounted for total purchases				8.50%
Percentage of vendors represented greater than of total purchases				5.00%
Suppliers accounted for total sales				7.20%
COVID-19 [Member]
Accounting Policies [Line Items]
Percentage of minimum number of retail store locations closed	50.00%
Deferred, lease liability		$ 400,000		$ 600,000
COVID-19 [Member] | California [Member]
Accounting Policies [Line Items]
Percentage of stores		52.00%
First Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods		91 days		91 days
Second Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods		91 days		91 days
Third Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods		91 days		91 days
Fourth Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods		91 days		98 days

Summary of Disaggregates Net Sa

Summary of Disaggregates Net Sales into Major Merchandise Categories to Depict Nature and Amount of Revenue and Related Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Accounting Policies [Line Items]
Net sales	$ 272,806	$ 217,736
Hardgoods [Member]
Accounting Policies [Line Items]
Net sales	140,906	108,774
Athletic and sport footwear [Member]
Accounting Policies [Line Items]
Net sales	66,673	57,498
Athletic and sport apparel [Member]
Accounting Policies [Line Items]
Net sales	63,526	49,128
Other sales [Member]
Accounting Policies [Line Items]
Net sales	$ 1,701	$ 2,336

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Payables And Accruals [Abstract]
Payroll and related expense	$ 32,202	$ 37,826
Occupancy expense	10,403	10,215
Sales tax	9,938	11,609
Other	25,808	23,227
Accrued expenses	$ 78,351	$ 82,877

Lease Commitments - Summary of

Lease Commitments - Summary of Components of Lease Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Lease expense:
Amortization of right-of-use assets	$ 649	$ 722
Interest on lease liabilities	59	89
Finance lease expense	708	811
Operating lease expense	20,336	20,287
Variable lease expense	4,492	4,124
Sublease income	(78)	(293)
Total lease expense	$ 25,458	$ 24,929

Lease Commitments - Schedule of

Lease Commitments - Schedule of Other Information Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 22,145	$ 20,742
Operating cash flows from finance leases	60	112
Financing cash flows from finance leases	931	951
Cash paid for amounts included in the measurement of lease liabilities	23,136	21,805
Right-of-use assets obtained in exchange for new finance lease liabilities	3,334
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 9,446	$ 23,282
Weighted-average remaining lease term—finance leases	3 years 6 months	3 years
Weighted-average remaining lease term—operating leases	4 years 10 months 24 days	5 years 2 months 12 days
Weighted-average discount rate—finance leases	3.70%	4.70%
Weighted-average discount rate—operating leases	5.90%	6.10%

Lease Commitments - Schedule _2

Lease Commitments - Schedule of Finance and Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021	Mar. 29, 2020
Finance Lease Liabilities, Payments, Due [Abstract]
2021 (remaining nine months)	$ 1,898
Finance leases, 2022	2,451
Finance leases, 2023	1,599
Finance leases, 2024	711
Finance leases, 2025	341
Finance leases, thereafter	388
Finance leases, total lease payments	$ 7,388
Weighted-average remaining lease term	3 years 6 months		3 years
Weighted-average discount rate	3.70%		4.70%
Present values	$ 6,996
Lease liabilities - current	2,664	$ 2,089
Lease liabilities - long-term	4,332	2,504
Lease liabilities - total	6,996
Difference between undiscounted and discounted cash flows	392
Operating Lease Liabilities, Payments Due [Abstract]
2021 (remaining nine months)	64,078
Operating leases, 2022	75,954
Operating leases, 2023	59,910
Operating leases, 2024	51,230
Operating leases, 2025	34,803
Operating leases, thereafter	41,831
Operating leases, total lease payments	$ 327,806
Weighted-average remaining lease term	4 years 10 months 24 days		5 years 2 months 12 days
Weighted-average discount rate	5.90%		6.10%
Present values	$ 284,087
Lease liabilities - current	73,196	73,737
Lease liabilities - long-term	210,891	$ 217,788
Lease liabilities - total	284,087
Difference between undiscounted and discounted cash flows	$ 43,719

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Feb. 24, 2021	Apr. 04, 2021	Jan. 03, 2021	Mar. 30, 2020
Debt Instrument [Line Items]
Credit Agreement description		The Company, Big 5 Corp. and Big 5 Services Corp. were parties to a credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and a syndicate of other lenders, as amended (the “Prior Credit Agreement”), which was terminated and replaced on February 24, 2021, as discussed below.
Debt issuance costs paid		$ 717,000
Long-term revolving credit borrowings outstanding		0	$ 0
Letter of credit commitments		$ 1,100,000	2,600,000
Loan, Guaranty and Security Agreement [Member]
Debt Instrument [Line Items]
Revolving credit facility	$ 150,000,000
Maximum limit of credit facility	200,000,000
Sublimit for issuances of letters of credit	$ 50,000,000
Maturity date of credit agreement	Feb. 24, 2026
Percentage of eligible credit card accounts receivables	90.00%
Percentage of the value of eligible inventory	90.00%
Percentage of the value of eligible in-transit inventory	90.00%
Interest rate, description		the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the LIBO rate, plus one percentage point (1.00%), or (c) the rate of interest in effect for such day as announced from time to time within BofA as its “prime rate.”
Commitment fee assessed	0.20%
Debt instrument, covenant description		Obligations under the Loan Agreement are secured by a general lien on and security interest in substantially all of the Company’s assets. The Loan Agreement contains covenants that require the Company to maintain a fixed charge coverage ratio of not less than 1.0:1.0 in certain circumstances, and limits the ability
Events of default, description		The Loan Agreement contains customary events of default, including, without limitation, failure to pay when due principal amounts with respect to the credit facility, failure to pay any interest or other amounts under the credit facility, failure to comply with certain agreements or covenants contained in the Loan Agreement, failure to satisfy certain judgments against the Company, failure to pay when due (or any other default which permits the acceleration of) certain other material indebtedness in principal amount in excess of $5.0 million, and certain insolvency and bankruptcy events.
Maximum dividend payment or stock purchase amount	$ 5,000,000
Line of Credit Facility default debt minimum amount	$ 5,000,000
Loan, Guaranty and Security Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	100.00%
Loan, Guaranty and Security Agreement [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate	0.50%
Loan, Guaranty and Security Agreement [Member] | LIBO Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate	1.00%
Prior Credit Agreement [Member]
Debt Instrument [Line Items]
Revolving credit facility		$ 140,000,000		$ 165,000,000
Maximum limit of credit facility		200,000,000
Sublimit for issuances of letters of credit		$ 25,000,000
Maturity date of credit agreement		Sep. 29, 2022
Interest rate, description		The Prior Credit Agreement provided for LIBO rate loans to bear interest at a rate equal to the applicable adjusted LIBO rate plus an applicable margin, as shown in the table below. The loans designated as base rate loans bore interest at a rate equal to the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate in effect plus one-half of one percent, (b) the LIBO rate, plus one percentage point, or (c) the prime interest rate.
Commitment fee assessed		0.20%
First tier of increase to the borrowing capacity		$ 165,000,000
Sublimit for swingline loans		20,000,000
Write off of deferred debt issuance cost		$ 200,000
Prior Credit Agreement [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate		0.50%
Prior Credit Agreement [Member] | LIBO Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate		1.00%
Wells Fargo Bank National Association [Member]
Debt Instrument [Line Items]
Remaining borrowing availability		$ 148,900,000	$ 162,400,000

Long-Term Debt - Average Daily

Long-Term Debt - Average Daily Excess Availability for Preceding Fiscal Quarter (Detail)	Feb. 24, 2021	Apr. 04, 2021
Loan, Guaranty and Security Agreement [Member] | Level I [Member]
Line Of Credit Facility [Line Items]
Average Daily Availability	Greater than or equal to $70,000,000
LIBO Rate Applicable Margin	1.375%
Base Rate Applicable Margin	0.375%
Loan, Guaranty and Security Agreement [Member] | Level II [Member]
Line Of Credit Facility [Line Items]
Average Daily Availability	Less than $70,000,000
LIBO Rate Applicable Margin	1.50%
Base Rate Applicable Margin	0.50%
Prior Credit Agreement [Member] | Level I [Member]
Line Of Credit Facility [Line Items]
Average Daily Availability		Greater than or equal to $70,000,000
LIBO Rate Applicable Margin		1.25%
Base Rate Applicable Margin		0.25%
Prior Credit Agreement [Member] | Level II [Member]
Line Of Credit Facility [Line Items]
Average Daily Availability		Less than $70,000,000
LIBO Rate Applicable Margin		1.375%
Base Rate Applicable Margin		0.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Jan. 03, 2021
Income Tax Contingency [Line Items]
Write-off of deferred tax assets related to share based compensation		$ 400,000
CARES act of 2020, net operating loss (NOL) carryback description	the CARES Act allows companies with a net operating loss (“NOL”) in either 2018, 2019 or 2020 to carry back those losses five years.
CARES act of 2020, net operating loss carryback period	5 years
Unrecognized tax benefits	$ 0		$ 0
Unrecognized tax benefits, period	over the next 12 months
Accrued interest or penalties	$ 0		0
California [Member]
Income Tax Contingency [Line Items]
Disaster recovery credit related to fire	$ 200,000
Earliest Tax Year [Member] | Federal [Member]
Income Tax Contingency [Line Items]
Income tax returns in period	2017
Earliest Tax Year [Member] | State and Local [Member]
Income Tax Contingency [Line Items]
Income tax returns in period	2016
California Enterprise Zone Tax Credits [Member]
Income Tax Contingency [Line Items]
Deferred tax assets valuation allowance	$ 500,000		$ 700,000
Tax credits carry forward latest expiration year	2024
Change in valuation allowance	$ 200,000

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Earnings Per Share Basic [Line Items]
Net income (loss)	$ 21,546	$ (4,611)
Weighted-average shares of common stock outstanding:
Basic	21,417	21,149
Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards	954
Diluted	22,371	21,149
Basic earnings (loss) per share	$ 1.01	$ (0.22)
Diluted earnings (loss) per share	$ 0.96	$ (0.22)
Share Option Awards [Member]
Weighted-average shares of common stock outstanding:
Antidilutive shares/unit awards excluded from diluted calculation	28	602
Nonvested Share Awards and Nonvested Share Unit Awards [Member]
Weighted-average shares of common stock outstanding:
Antidilutive shares/unit awards excluded from diluted calculation	57	554

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Apr. 04, 2021USD ($)	Jun. 28, 2020USD ($)Store
Commitments And Contingencies [Line Items]
Number of stores destroyed in civil unrest | Store		7
Loss contingency, total loss		$ 600
Deduction on settlement	$ 300
Proceeds from cash insurance recovery total, net of insurance deductible	1,300
Proceeds from insurance recovery	1,083
Proceeds from insurance recovery - property and equipment	249
Gain on recovery of insurance proceeds - lost profit margin and business interruption	460
Gain on recovery of insurance proceeds - property and equipment	249
Lost Inventory and Profit Margin [Member]
Commitments And Contingencies [Line Items]
Proceeds from insurance recovery	1,000
Business Interruption [Member]
Commitments And Contingencies [Line Items]
Proceeds from insurance recovery	$ 100

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 400,000	$ 500,000
Expected dividend yield		0.00%
Shares withheld for tax requirements	70,228
Tax withholding payments for share-based compensation	$ 1,046,000	$ 97,000
Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing stock price per share	$ 16.48
Share Option Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum expiration period of share based payment awards granted	10 years
Granted, shares	0	257,000
Weighted-average grant-date fair value per share		$ 1.25
Unrecognized compensation expense	$ 400,000
Weighted-average period of recognition	2 years 3 months 18 days
Share Option Awards [Member] | Share-based Compensation Award, Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights (as percentage)	25.00%
Performance Shares [Member] | Share-based Compensation Award, Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights (as percentage)	25.00%
Performance Shares [Member] | Share-based Compensation Award, Tranche One [Member] | Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights (as percentage)	100.00%
Nonvested Share Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition	2 years 8 months 12 days
Fair value of nonvested share awards	$ 2,800,000	$ 300,000
Issuance of nonvested share awards, Shares	235,480	241,600
Weighted-average grant-date fair value per share, granted	$ 14.89	$ 1.50
Unrecognized compensation expenses	$ 4,200,000
Nonvested Share Unit Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition	2 months 12 days
Fair value of nonvested share awards	$ 0	$ 0
Unrecognized compensation expenses	$ 15,000
2019 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future grant	1,880,396

Share-based Compensation - Summ

Share-based Compensation - Summary of Share Option Awards (Detail)	3 Months Ended
	Apr. 04, 2021USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares, Outstanding at January 3, 2021 | shares	742,800
Shares, Exercised | shares	(196,200)
Shares, Outstanding at April 4, 2021 | shares	546,600
Shares, Exercisable at April 4, 2021 | shares	167,887
Shares, Vested and Expected to Vest at April 4, 2021 | shares	538,806
Weighted-Average Exercise Price, Outstanding at January 3, 2021 | $ / shares	$ 4.62
Weighted-Average Exercise Price, Exercised | $ / shares	4.98
Weighted-Average Exercise Price, Outstanding at April 4, 2021 | $ / shares	4.49
Weighted-Average Exercise Price, Exercisable at April 4, 2021 | $ / shares	6.98
Weighted-Average Exercise Price, Vested and Expected to Vest at April 4, 2021 | $ / shares	$ 4.52
Weighted-Average Remaining Contractual Life (In Years), Outstanding at April 4, 2021	7 years 9 months 7 days
Weighted-Average Remaining Contractual Life (In Years), Exercisable at April 4, 2021	6 years 7 months 6 days
Weighted-Average Remaining Contractual Life (In Years), Vested and Expected to Vest at April 4, 2021	7 years 9 months
Aggregate Intrinsic Value, Outstanding at April 4, 2021 | $	$ 6,608,776
Aggregate Intrinsic Value, Exercisable at April 4, 2021 | $	1,652,228
Aggregate Intrinsic Value, Vested and Expected to Vest at April 4, 2021 | $	$ 6,501,621

Share-based Compensation - Fair

Share-based Compensation - Fair Value of Share Option Award Based on Weighted-Average Assumptions (Detail)	3 Months Ended
	Mar. 29, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	0.90%
Expected term	5 years 8 months 12 days
Expected volatility	63.00%
Expected dividend yield	0.00%

Share-based Compensation - Su_2

Share-based Compensation - Summary of Nonvested Share Awards Activity (Detail) - $ / shares	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Nonvested Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares/share units, beginning balance	591,325
Granted, shares/share units	235,480	241,600
Vested, shares/share units	(188,550)
Forfeited, shares/share units	(3,520)
Nonvested shares/share units, ending balance	634,735
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-Average Grant-Date Fair Value, Beginning Balance	$ 3.79
Weighted-Average Grant-Date Fair Value, Granted	14.89	$ 1.50
Weighted-Average Grant-Date Fair Value, Vested	5.91
Weighted-Average Grant-Date Fair Value, Forfeited	4.03
Weighted-Average Grant-Date Fair Value, Ending Balance	$ 7.28
Nonvested Share Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares/share units, beginning balance	41,160
Dividend reinvestments, shares/share units	2,574
Dividend reinvestments vested, shares/share units	(2,155)
Nonvested shares/share units, ending balance	41,579
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-Average Grant-Date Fair Value, Beginning Balance	$ 1.91
Weighted-Average Grant-Date Fair Value, Dividend Reinvestments	14.73
Weighted-Average Grant-Date Fair Value, Dividend Reinvestments Vested	14.73
Weighted-Average Grant-Date Fair Value, Ending Balance	$ 2.04

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member]	Apr. 29, 2021$ / shares
Regular Cash [Member]
Dividends Payable [Line Items]
Dividend per share	$ 0.18
Dividend declared per share, payable date	Jun. 15, 2021
Dividend declared per share, record date	Jun. 1, 2021
Special Cash [Member]
Dividends Payable [Line Items]
Dividend per share	$ 1
Dividend declared per share, payable date	Jun. 1, 2021
Dividend declared per share, record date	May 17, 2021