Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jan. 03, 2017 | Feb. 02, 2018 | Jun. 28, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jan. 3, 2017 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | JMBA | ||
Entity Common Stock, Shares Outstanding | 15,588,206 | ||
Entity Registrant Name | JAMBA, INC. | ||
Entity Central Index Key | 1,316,898 | ||
Current Fiscal Year End Date | --01-03 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Public Float | $ 76,692,507 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 7,133 | $ 19,730 |
Receivables, net of allowances of $1,808 and $618 | 11,778 | 16,932 |
Inventories | 534 | 818 |
Prepaid and refundable taxes | 243 | 356 |
Prepaid rent | 1,053 | 1,682 |
Assets held for sale | 206 | 3,144 |
Prepaid expenses and other current assets | 2,757 | 4,495 |
Total current assets | 23,704 | 47,157 |
Property, fixtures and equipment, net | 12,512 | 15,600 |
Goodwill | 1,183 | 1,184 |
Trademarks and other intangible assets, net | 1,327 | 1,464 |
Notes receivable and other long-term assets | 2,894 | 4,211 |
Total assets | 41,620 | 69,616 |
Current liabilities: | ||
Accounts payable | 2,749 | 3,815 |
Accrued compensation and benefits | 3,580 | 3,788 |
Workers’ compensation and health insurance reserves | 675 | 633 |
Accrued jambacard liability | 24,131 | 29,306 |
Accrued expenses | 7,658 | 9,977 |
Other current liabilities | 7,664 | 8,116 |
Total current liabilities | 46,457 | 55,635 |
Deferred rent and other long-term liabilities | 8,940 | 8,990 |
Total liabilities | 55,397 | 64,625 |
Commitments and contingencies (Notes 19) | ||
Shareholders’ (deficit) equity: | ||
Common stock, $.001 par value, 30,000,000 shares authorized; 18,268,885 and 15,410,068 shares issued and outstanding, respectively, at January 3, 2017, and 17,938,820 and 15,080,003 shares issued and outstanding, respectively, at December 29, 2015 | 18 | 18 |
Additional paid-in capital | 407,273 | 403,605 |
Treasury shares, at cost, 2,858,817 | (40,009) | (40,009) |
Accumulated deficit | (381,059) | (358,623) |
Shareholders' (deficit) equity | (13,777) | 4,991 |
Total liabilities and shareholders’ (deficit) equity | $ 41,620 | $ 69,616 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Statement Of Financial Position [Abstract] | ||
Receivables, allowances (in dollars) | $ 1,808 | $ 618 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 18,268,885 | 17,938,820 |
Common stock, shares outstanding | 15,410,068 | 15,080,003 |
Treasury Stock, Shares | 2,858,817 | 2,858,817 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 03, 2017 | Sep. 27, 2016 | Jun. 28, 2016 | Mar. 29, 2016 | Dec. 29, 2015 | Sep. 29, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Revenue: | |||||||||||
Company stores | $ 11,105 | $ 14,350 | $ 13,874 | $ 11,953 | $ 12,724 | $ 28,213 | $ 48,360 | $ 47,728 | $ 51,282 | $ 137,025 | $ 198,737 |
Franchise and other revenue | 6,163 | 7,711 | 7,666 | 6,801 | 6,825 | 7,284 | 5,766 | 4,776 | 28,341 | 24,651 | 19,311 |
Total revenue | 17,268 | 22,061 | 21,540 | 18,754 | 19,549 | 35,497 | 54,126 | 52,504 | 79,623 | 161,676 | 218,048 |
Costs and operating expenses (income): | |||||||||||
Cost of sales | 2,881 | 3,437 | 3,321 | 2,962 | 3,230 | 6,626 | 11,474 | 12,407 | 12,601 | 33,737 | 52,236 |
Labor | 4,402 | 4,644 | 4,668 | 4,158 | 4,925 | 8,843 | 14,876 | 16,088 | 17,872 | 44,732 | 61,749 |
Occupancy | 1,844 | 1,879 | 1,900 | 2,036 | 2,005 | 3,980 | 6,131 | 6,835 | 7,659 | 18,951 | 27,630 |
Store operating | 2,270 | 2,381 | 2,272 | 2,362 | 3,158 | 5,901 | 8,059 | 8,034 | 9,285 | 25,152 | 33,089 |
Depreciation and amortization | 1,505 | 1,068 | 1,674 | 1,502 | 2,209 | 1,143 | 1,344 | 1,873 | 5,749 | 6,569 | 10,084 |
General and administrative | 11,226 | 9,699 | 9,423 | 7,610 | 10,479 | 9,003 | 8,427 | 8,963 | 37,958 | 36,872 | 37,278 |
Loss (gain) on disposal of assets | 289 | 204 | 188 | 109 | (275) | (16,076) | (4,480) | (778) | 790 | (21,609) | (2,957) |
Store pre-opening | 364 | 210 | 326 | 324 | 556 | 287 | 166 | 22 | 1,224 | 1,031 | 763 |
Impairment of long-lived assets | 3,054 | 229 | 127 | 321 | 1,907 | 295 | 0 | 3,410 | 2,523 | 175 | |
Store lease termination and closure | 3,918 | 178 | (56) | 120 | 1,400 | 207 | 40 | 22 | 4,160 | 1,669 | 575 |
Other operating, net | 463 | 104 | 245 | 271 | (619) | 375 | 1,333 | 706 | 1,083 | 1,795 | 726 |
Total costs and operating expenses (income): | 32,216 | 24,033 | 24,088 | 21,454 | 27,389 | 22,196 | 47,665 | 54,172 | 101,791 | 151,422 | 221,348 |
(Loss) income from operations | (14,948) | (1,972) | (2,548) | (2,700) | (7,840) | 13,301 | 6,461 | (1,668) | (22,168) | 10,254 | (3,300) |
Other income (expense): | |||||||||||
Interest income | 55 | 50 | 74 | 71 | 59 | 49 | 14 | 15 | 250 | 137 | 74 |
Interest expense | (270) | (51) | (59) | (59) | (58) | (53) | (68) | (41) | (439) | (220) | (195) |
Total other income (expense), net | (215) | (1) | 15 | 12 | 1 | (4) | (54) | (26) | (189) | (83) | (121) |
(Loss) income before income taxes | (15,163) | (1,973) | (2,533) | (2,688) | (7,839) | 13,297 | 6,407 | (1,694) | (22,357) | 10,171 | (3,421) |
Income tax expense | (10) | 9 | 54 | (132) | (424) | (194) | (57) | (26) | (79) | (701) | (168) |
Net (loss) income | (15,173) | (1,964) | (2,479) | (2,820) | (8,263) | 13,103 | 6,350 | (1,720) | (22,436) | 9,470 | (3,589) |
Less: Net income attributable to noncontrolling interest | 21 | 31 | 52 | 43 | |||||||
Net (loss) income attributable to Jamba, Inc. | $ (15,173) | $ (1,964) | $ (2,479) | $ (2,820) | $ (8,263) | $ 13,103 | $ 6,329 | $ (1,751) | $ (22,436) | $ 9,418 | $ (3,632) |
Weighted-average shares used in the computation of earnings (loss) per share attributable to Jamba, Inc.: | |||||||||||
Basic | 15,229,102 | 15,787,806 | 17,197,904 | ||||||||
Diluted | 15,229,102 | 16,228,033 | 17,197,904 | ||||||||
Earnings (loss) per share attributable to Jamba, Inc. common shareholders: | |||||||||||
Basic | $ (0.99) | $ (0.13) | $ (0.16) | $ (0.19) | $ (0.55) | $ 0.83 | $ 0.39 | $ (0.11) | $ (1.47) | $ 0.60 | $ (0.21) |
Diluted | $ (0.99) | $ (0.13) | $ (0.16) | $ (0.19) | $ (0.55) | $ 0.81 | $ 0.38 | $ (0.11) | $ (1.47) | $ 0.58 | $ (0.21) |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] | Equity Attributable to Jamba, Inc. [Member] | Noncontrolling Interest [Member] |
Balance at Dec. 31, 2013 | $ 26,842 | $ 17 | $ 391,234 | $ 0 | $ (364,409) | $ 26,842 | $ 0 |
Balance (in shares) at Dec. 31, 2013 | 17,154,655 | ||||||
Share-based compensation expense | 3,069 | $ 0 | 3,069 | 0 | 0 | 3,069 | 0 |
Issuance of common stock pursuant to stock plans | 1,707 | $ 0 | 1,707 | 0 | 0 | 1,707 | 0 |
Issuance of common stock pursuant to stock plans (in shares) | 323,961 | ||||||
Realized gain on sale of noncontrolling interest | 750 | $ 0 | 662 | 0 | 0 | 662 | 88 |
Paid to noncontrolling interest | (42) | 0 | (42) | 0 | 0 | (42) | 0 |
Due to noncontrolling interest | (1) | 0 | (1) | 0 | 0 | (1) | 0 |
Treasury shares purchased, not retired | (11,991) | 0 | 0 | (11,991) | 0 | (11,991) | 0 |
Net income (loss) | (3,589) | 0 | 0 | 0 | (3,632) | (3,632) | 43 |
Balance at Dec. 30, 2014 | 16,745 | $ 17 | 396,629 | (11,991) | (368,041) | 16,614 | 131 |
Balance (in shares) at Dec. 30, 2014 | 17,478,616 | ||||||
Share-based compensation expense | 5,162 | $ 0 | 5,162 | 0 | 0 | 5,162 | 0 |
Issuance of common stock pursuant to stock plans | 1,793 | $ 1 | 1,792 | 0 | 0 | 1,793 | 0 |
Issuance of common stock pursuant to stock plans (in shares) | 460,204 | ||||||
Excess tax benefit from exercise of stock options | 553 | $ 0 | 553 | 0 | 0 | 553 | 0 |
Realized gain on sale of noncontrolling interest | (845) | 0 | (662) | 0 | 0 | (662) | (183) |
Noncontrolling interest | 131 | 0 | 131 | 0 | 0 | 131 | 0 |
Treasury shares purchased, not retired | (28,018) | 0 | 0 | (28,018) | 0 | (28,018) | 0 |
Net income (loss) | 9,470 | 0 | 0 | 0 | 9,418 | 9,418 | 52 |
Balance at Dec. 29, 2015 | $ 4,991 | $ 18 | 403,605 | (40,009) | (358,623) | 4,991 | 0 |
Balance (in shares) at Dec. 29, 2015 | 17,938,820 | 17,938,820 | |||||
Share-based compensation expense | $ 2,579 | $ 0 | 2,579 | 0 | 0 | 2,579 | 0 |
Issuance of common stock pursuant to stock plans | 1,089 | 1,089 | 0 | 0 | 1,089 | 0 | |
Issuance of common stock pursuant to stock plans (in shares) | 330,065 | ||||||
Excess tax benefit from exercise of stock options | 2,000 | ||||||
Net income (loss) | (22,436) | $ 0 | 0 | 0 | (22,436) | (22,436) | |
Balance at Jan. 03, 2017 | $ (13,777) | $ 18 | $ 407,273 | $ (40,009) | $ (381,059) | $ (13,777) | $ 0 |
Balance (in shares) at Jan. 03, 2017 | 18,268,885 | 18,268,885 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Cash (used in) provided by operating activities: | |||
Net income (loss) attributable to common shareholders | $ (22,436) | $ 9,470 | $ (3,589) |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | |||
Depreciation and amortization | 5,749 | 6,569 | 10,084 |
Lease termination, store closure costs, impairment and gain on disposals | 8,359 | (26,555) | (2,420) |
Gain from sale of investment in joint venture | (662) | 0 | |
Contingent consideration fair value measurement | (295) | (156) | (397) |
Jambacard breakage income | (4,096) | (5,440) | (4,744) |
Share-based compensation | 2,579 | 5,162 | 3,069 |
Bad debt and trade credits | 1,645 | 1,896 | 358 |
Deferred rent | (1,970) | (2,035) | (397) |
Equity loss from joint ventures | 98 | 229 | 0 |
Changes in operating assets and liabilities: | |||
Receivables | 3,493 | 1,222 | (2,853) |
Inventories | 249 | 1,129 | 387 |
Prepaid and refundable taxes | 113 | 118 | 9 |
Prepaid rent | 628 | (1,178) | (197) |
Prepaid expenses and other current assets | 581 | 1,456 | (2,406) |
Other long-term assets | 1,447 | (1,201) | (1,617) |
Accounts payable | (330) | (1,274) | (2,145) |
Accrued compensation and benefits | (208) | (2,537) | (58) |
Workers’ compensation and health insurance reserves | 43 | (678) | 265 |
Accrued jambacard liability | (170) | (3,438) | 5,807 |
Other current liabilities | (2,951) | 1,669 | 3,319 |
Other long-term liabilities | 428 | 1,624 | 1,068 |
Cash (used in) provided by operating activities | (7,044) | (14,610) | 3,543 |
Cash provided by (used in) investing activities: | |||
Capital expenditures | (6,807) | (7,052) | (14,280) |
Acquisitions, net of cash acquired | (735) | (694) | |
Proceeds from the sale of assets | 170 | 50,131 | 5,557 |
Cash provided by (used in) investing activities | (6,637) | 42,344 | (9,417) |
Cash (used in) provided by financing activities: | |||
Proceeds pursuant to stock plans | 1,089 | 1,793 | 1,707 |
Excess tax benefit from exercise of stock options | 553 | 0 | |
Proceeds from sale of noncontrolling interest | 0 | 750 | |
Payments to noncontrolling interest | (52) | (42) | |
Payments for treasury shares | (28,018) | (11,146) | |
Payments on capital lease obligations | (5) | (30) | (31) |
Cash (used in) provided by financing activities | 1,084 | (25,754) | (8,762) |
Net increase (decrease) in cash and cash equivalents | (12,597) | 1,980 | (14,636) |
Cash and cash equivalents at beginning of period | 19,730 | 17,750 | 32,386 |
Cash and cash equivalents at end of period | 7,133 | 19,730 | 17,750 |
Supplemental cash flow information: | |||
Cash paid for interest | 12 | 31 | 30 |
Income taxes paid | 19 | 65 | 178 |
Noncash investing and financing activities: | |||
Property, fixtures and equipment in accounts payable | 312 | 1,171 | 1,192 |
Property, fixtures and equipment funded by a tenant allowance | 1,142 | ||
Note taken for store disposal | 100 | 2,000 | 0 |
Noncash purchase of shares of Jamba, Inc. | $ 0 | $ 0 | $ 845 |
Business and Summary of Signifi
Business and Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 03, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | 1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business - Jamba, Inc. consummated its initial public offering in July 2005. On November 29, 2006, Jamba, Inc. consummated the merger with Jamba Juice Company whereby Jamba Juice Company, which first began operations in 1990, became its wholly owned subsidiary. Jamba, Inc. together with its wholly-owned subsidiary, Jamba Juice Company (“the Company”), is a healthful, active lifestyle brand with a robust global business driven by a portfolio of franchised and company-owned Jamba Juice ® TM ® As of January 3, 2017, there were 909 Jamba Juice stores globally, consisting of 66 Company-owned and operated stores (“Company Stores”), 773 franchisee-owned and operated stores (“Franchise Stores”) in the United States, and 70 Franchise Stores in international locations (“International Stores”). Basis of Presentation - The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Jamba Juice Company. The accounts of Jamba Juice Southern California, LLC (“JJSC”), a former indirect subsidiary, are included through April 28, 2015, when the Company sold its 88% interest in JJSC to the holder of JJSC’s non-controlling interest. All significant intercompany balances and transactions have been eliminated in consolidation. The equity method of accounting is used to account for Jamba Juice Company’s investments in its joint ventures because the Company exercises significant influence over the operations and financial policies of the joint ventures. Accordingly, the carrying value of the investment is reported in other long-term assets, and the Company’s equity in the net income and losses of its joint ventures is reported in other operating, net. Fiscal Year End - The Company’s fiscal year ends on the Tuesday closest to December 31. The Company’s most recently completed fiscal year, referred to as fiscal 2016 which started on December 30, 2015 and ended on January 3, 2017, had 53 weeks. The Company’s fiscal 2015 which started on December 31, 2014, and ended on December 29, 2015, had 52 weeks, and fiscal 2014 which started on January 1, 2014 and ended on December 30, 2014 had 52 weeks. Effect of Correction of Prior Period Misstatements – During fiscal year 2016, the Company corrected certain errors which resulted in additional expense in fiscal 2016 of approximately $0.8 million related to prior period financial statements. These errors related to FY 2015 ($0.6 million) and FY 2014 ($0.6 million), with the remaining offsetting amounts relating to the financial statements from years prior to 2014. These adjustments primarily related to the prior fiscal year 2015 results. The Company determined that the corrections were neither quantitatively nor qualitatively material to fiscal year 2016 or to prior periods either individually or in the aggregate or to the trends of the reported results of operations. The following table details the specific amounts of out-of-period (overstatements)/understatements for the fiscal years 2016, 2015, 2014 and fiscal years prior to 2014. (In thousands, except share and per share amounts) Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Prior to Fiscal Year 2014 Total revenue $ (65 ) $ (3 ) $ 33 $ 35 Total costs, operating expenses and gain (893 ) 624 622 (353 ) Income before income taxes 828 (627 ) (589 ) 388 Total other expense, net — — — — Income before income taxes 828 (627 ) (589 ) 388 Income tax benefit (expense) (30 ) 44 29 (10 ) Net income 798 (583 ) (560 ) 378 (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ 0.05 $ (0.04 ) $ (0.03 ) Diluted $ 0.05 $ (0.04 ) $ (0.03 ) Significant Estimates - The preparation of the consolidated financial statements and accompanying notes are in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Preparing consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates. Reclassifications - Certain prior year amounts have been reclassified to conform to current year presentation in the consolidated financial statements. Concentrations of Risk - From fiscal 2012 through October 2014, the Company maintained food distribution contracts primarily with one distributor. In October 2014, the Company began working with both Gordon Food Services (“GFS”) in the Eastern United States and Systems Services of America (“SSA”) in the Western United States to distribute food sold in the majority of Company and Franchise Stores. In fiscal 2016 and fiscal 2015, two distributors accounted for approximately 92% and 98%, respectively, of the supplies delivered to Company and Franchise Stores. The Company's limited distributor relationships could have an adverse effect on the Company’s operations. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with high-quality financial institutions. Balances in the Company’s cash accounts frequently exceed the Federal Deposit Insurance Corporation insurance limit. The Company has not experienced any losses related to these balances and believes the credit risk to be minimal. Cash and Cash Equivalents - The Company considers all highly liquid instruments with maturities of three months or less when purchased to be cash equivalents. The existing letters of credit balance of $0.4 million is collateralized by restricted cash. Receivables - Receivables primarily represent amounts due from royalty fees, advertising fees, construction allowances, amounts receivable from suppliers, distributors and CPG customers, sale of jambacards by other issuers and franchisees and rent receivable from franchisees. The allowance for doubtful accounts is the Company’s estimate of the amount of probable credit losses in the Company’s existing accounts receivable. Inventories - Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out method (“FIFO”). Inventories consist of food, beverages and available-for-sale promotional products. The Company reduces inventory for obsolete and slow-moving inventory and for estimated shrinkage between physical inventory counts. Property, Fixtures and Equipment - Property, fixtures and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the underlying lease. The estimated useful life for furniture, fixtures and equipment is three to 10 years. Capitalized software is recorded at cost and includes purchased, internally-developed and externally-developed software used in the Company’s operations. Amortization expense is provided using the straight-line method over the estimated useful lives of the software, which range from one to three years. In fiscal year 2016, the Company received approximately $1.1 million in tenant allowances, primarily related to the headquarters relocation to Frisco, TX. Upon sale, the cost of assets disposed and their related accumulation depreciation are removed from the consolidated balance sheets. The Company calculates the gain or loss by comparing the carrying value of the assets to the selling price. Intangible Assets Subject to Amortization – Intangible assets subject to amortization (primarily franchise and reacquired franchise rights, favorable lease intangible assets and acquired customer relationships) are amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. The useful life for the franchise agreements is approximately 13.4 years. The useful life of reacquired franchise rights represents the remaining term of the franchise agreement. The useful life of the favorable lease portfolio intangible is based on the related lease term. Business Combinations - The Company accounts for business combinations using the acquisition method. Under the acquisition method, the purchase price of the acquisition is allocated to the underlying tangible and intangible assets acquired based on their respective fair values. Fair values are derived from various observable and unobservable inputs and assumptions. The Company utilizes third-party valuation specialists to assist in the allocation. Initial purchase price allocations are preliminary and are subject to revision within the measurement period, not to exceed one year from the date of acquisition. The costs of the business acquisitions are expensed as incurred. These costs may include fees for accounting, legal, professional consulting and valuation specialists. Assets Held for Sale - The Company classifies assets as held for sale and suspends depreciation and amortization when approval at the appropriate level has been provided, the assets can be immediately removed from operations, an active program has begun to locate a buyer, the assets are being actively marketed for sale at or near their current fair value, significant changes to the plan of sale are not likely and the sale is probable within one year. Upon classification as held for sale, long-lived assets are no longer depreciated, and an assessment of impairment is performed to identify and expense any excess of carrying value over fair value less costs to sell. Subsequent changes to the estimated fair value less costs to sell will impact the measurement of assets held for sale. To the extent fair value increases, any impairment previously recorded is reversed. If the carrying value of the assets held for sale exceeds the fair value less costs to sell, the Company will record a loss for the amount of the excess. The Company also reclassifies the associated prior year balances for assets reclassified to assets held for sale. If the Company decides not to sell previously classified assets held for sale, the asset is reclassified back to their original asset group. The assets are recorded at the lower of the carrying value before being classified as held for sale adjusted for depreciation that would have been recognized during the time they were classified as held for sale or fair value at the date the Company decided not to sell. Assets held for sale as of January 3, 2017 was $0.2 million and related to JambaGO ® Impairment of Long-lived assets - Long-lived assets, such as property and equipment and intangible assets subject to amortization, are tested for impairment at least annually or when facts and circumstances indicate that the carrying values of long-lived assets may not be recoverable. Long-lived assets are grouped for recognition and measurement of impairment at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets, generally the store asset group level. The Company first compares the carrying value of the asset to the asset’s estimated future undiscounted cash flows. If the estimated future cash flows are less than the carrying value of the asset, the Company measures an impairment loss based on the asset’s estimated fair value. The fair value of a store’s assets is estimated using a discounted cash flow model based on internal projections and taking into consideration the view of a market participant. The estimate of cash flows is based on, among other things, certain assumptions about expected future operating performance. Factors considered during the impairment evaluation include factors related to actual operating cash flows, the period of time since a store has been opened or remodeled, refranchising expectations and the maturity of the relevant market. The Company recorded impairment charges of $3.4 million, $2.5 million, and $0.2 million for fiscal years 2016, 2015 and 2014, respectively. Impairment of Goodwill, Trademarks and Other Intangible Asset Not Subject to Amortization - Goodwill is evaluated for impairment on an annual basis during the Company’s fourth fiscal quarter, or more frequently if circumstances, such as material deterioration in performance, indicate carrying values may exceed their fair values. When reviewing goodwill for impairment, the Company assesses whether goodwill should be allocated to operating levels lower than its single operating segment for which discrete financial information is available and reviewed for decision-making purposes. These lower levels are referred to as reporting units. Currently, the Company’s one operating segment was determined to be one reporting unit. Our annual impairment test of goodwill may be completed through a qualitative assessment. We may elect to bypass the qualitative assessment and proceed directly to a two-step quantitative impairment test, in any period. We can resume the qualitative assessment for any subsequent period. If we elect to bypass the qualitative assessment for any reporting unit, or if a qualitative assessment indicates it is more-likely-than-not that the estimated carrying value of a reporting unit exceeds its fair value, we perform a two-step quantitative goodwill impairment test. First, the reporting unit’s estimated fair value is compared to its carrying value, including goodwill. If the Company determines that the estimated fair value of the reporting unit is less than its carrying value, it moves to the second step to determine the implied fair value of the reporting unit’s goodwill. If the carrying amount of the reporting unit’s goodwill exceeds its implied fair value, an impairment loss is recognized. No goodwill impairment was recorded for fiscal years 2016, 2015 and 2014. Intangible assets not subject to amortization (primarily trademarks) are evaluated for impairment on an annual basis during the fourth fiscal quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company qualitatively assesses the impairment for other intangible assets not subject to amortization to determine whether it is more likely than not that the fair value of intangible assets are less than their carrying amount. For other intangible assets not subject to amortization not assessed qualitatively, a quantitative approach is utilized. The Company compares the carrying value of the applicable asset to its fair value, which the Company estimates using a discounted cash flow analysis or by comparing with the market values of similar assets. If the carrying amount of the asset exceeds its estimated fair value, the Company determines the impairment loss, if any, as the excess of the carrying value of the intangible asset over its fair value. An impairment loss is generally recognized when the carrying amount of the trademarks exceeds the fair value. For fiscal 2016, 2015 and 2014, the company had no impairments related to other intangible assets not subject to amortization. jambacards ® - The Company, through its subsidiary, Jamba Juice Company, sells gift cards called jambacards to its customers in its retail stores, through its website and through resellers. The Company’s jambacards do not have an expiration date. An obligation is recorded at the time of either an initial load or a subsequent reload in accrued jambacard liability on the Company’s consolidated balance sheets. The Company recognizes income from jambacards when (i) the jambacard is redeemed by the customer or (ii) the likelihood of the jambacard being redeemed by the customer is remote (also referred to as “breakage”) and the Company determines that it does not have a legal obligation to remit the unredeemed jambacards to the relevant jurisdictions. The Company determines the jambacard breakage amount based upon its historical redemption patterns. Jambacard breakage income is included in other operating, net in the Consolidated Statements of Operations. Self-Insurance Reserves -The Company is self-insured for healthcare benefits. The estimated accruals for these liabilities are based on statistical analyses of historical industry data as well as actual historical trends. For its workers’ compensation benefits, the Company has a guaranteed cost policy which renewed on October 1, 2016. Prior to September 30, 2015, the Company had a retrospective policy and was self-insured for existing and prior years exposures through September 30, 2012. For these two policies, liabilities associated with the risks that the Company retains for workers’ compensation benefits are estimated in part, by considering historical claims experience, demographic factors, severity factors and other actuarial assumptions. The Company’s estimates use this actuarial data in conjunction with known industry trends and Company experience. Rent Expense - Under the provisions of certain of the Company’s leases, there are rent holidays and/or escalations in payments over the base lease term, as well as renewal periods. The effects of rent holidays and escalations are reflected in rent costs on a straight-line basis over the expected lease term, which includes cancelable option periods when it is deemed to be reasonably assured that the Company will exercise such option periods due to the fact that the Company would incur an economic penalty for not doing so. The lease term commences on the date when the Company becomes legally obligated for the rent payments which generally coincides with the time when the landlord delivers the property for the Company to develop. All rent costs recognized during construction periods are classified as pre-opening expenses. The Company has assigned certain of its store leases to franchisees as part of refranchising transactions, and in some cases for amounts less than the Company’s rent obligation. Liabilities for those rent concessions are recorded and relieved against rent expense over the remaining term of the related lease. Construction Allowances - The Company receives construction allowances from certain landlords, which are deferred and amortized on a straight-line basis over the lease term as a reduction of rent expense. In fiscal year 2016, the Company received approximately $1.1 million in allowances, primarily related to the headquarters relocation to Frisco, TX. Construction allowances are recorded in deferred rent and other long-term liabilities. Revenue Recognition - Revenue from Company Stores is recognized when product is sold. Revenue is presented net of any taxes collected from customers and remitted to government entities. In fiscal 2014, the Company initiated a loyalty program for its customers, which allows them to earn points based on the volume of their purchases. Under the loyalty program, a customer receives a discount on future purchases when a defined number of points have been earned. The estimated amount of points redeemable in exchange for discounts is recorded in deferred revenue and recognized when the customers redeem the points they earned. The deferred revenue for unredeemed points under the loyalty program was $0.2 million at January 3, 2017 and December 29, 2015. Revenue from jambacards is recognized upon redemption in exchange for product. Until redemption, outstanding customer balances are recorded as a liability. See “jambacards” section above for discussion on recognition of jambacard breakage. The Company generally executes franchise agreements for each store that establishes the terms of its arrangement with the franchisee. The franchise agreements typically require the franchisee to pay an initial, non-refundable fee and continuing fees based upon a percentage of sales. Subject to the Company’s approval and the franchisee’s payment of a renewal fee, a franchisee may generally renew the franchise agreement upon its expiration. Franchise revenue is generated from royalties, development fees, initial franchise fees and revenue from sales at franchise-operated Jamba Juice Express and JambaGO ® Development fees are paid to the Company as part of an agreement to open and operate a specific number of stores in a specified territory. The amount of the fee is based on the number of stores to be opened pursuant to the development agreement. The nonrefundable fees collected for these services are recognized as the franchise stores under these agreements open. The Company’s multi-unit development agreements specify the number of stores to be opened. The Company charges an initial franchise fee for providing operational materials, new store opening, planning and functional training courses. Initial franchise fees, if any, are due for payment at the time the franchise agreement for a particular store is executed. Franchise fees are recognized as revenue when all material services or conditions have been substantially performed or satisfied and no other material conditions or obligations related to the determination of substantial performance exist. Duties and services that are completed prior to approval include training, facilities inspection, receipt of operating license(s) and clearance from appropriate agencies. These duties and services are substantially complete prior to the approval of the opening of a store. Revenue is recognized when the store opens. Revenue from sales at the Company’s flexible format franchise locations are recognized when the products are delivered to the operators of the Jamba Juice Express. Other revenue primarily consists of revenue from sales of CPG products sold to retail outlets and online and royalties from licensed CPG products. Revenue from sale of CPG products is recognized when the products are delivered to the customer. License revenue from CPG products is based on a percentage of product sales and is recognized as revenue upon the sale of the product to retail outlets. Cost of Sales - The Company includes in cost of sales, costs incurred to acquire fruit, dairy and other products used to make smoothies and juices, other food offerings and paper products sold by the Company Stores. Store Lease Termination and Closure Costs - Costs incurred when closing a store are generally expensed as incurred. At the date the Company ceases use of a store under an operating lease, a liability is recorded for the net present value of any remaining lease obligations, net of estimated sublease income, if any. In instances where a buyout is reasonably expected within six months of store closure, liabilities are recorded by estimating the expected buyout fee and the rent expected to be incurred until a buyout agreement is reached. Any costs recorded upon store closure, as well as any subsequent adjustments to liabilities for remaining lease obligations, as a result of lease termination or changes in estimates of sublease income are recorded in other operating, net in the Consolidated Statements of Operations. Considerable management judgment is necessary to estimate future cash flows, including cash flows from continuing use, terminal value and sublease income. Accordingly, actual results could vary from the Company’s estimates. Advertising Fund - The Company participates with its franchisees in an advertising fund to collect and administer funds contributed for use in advertising and promotional programs, which are designed to increase sales and enhance the reputation of the Company and its franchise owners. Contributions to the advertising fund are required for Company Stores and traditional Franchise Stores and are generally based on a percent of store sales. The Company has control of the advertising fund. The fund is consolidated and all assets and liabilities of the fund are reported. The advertising fund assets, consisting primarily of cash received from the Company and franchisees and accounts receivable from franchisees, can only be used for selected purposes and are considered restricted. The cash contributed by franchisees is recorded as a liability against which specified advertising costs are charged. The Company does not reflect franchisee contributions to the fund as revenue in its consolidated statements of operations or consolidated statements of cash flows. Advertising fund assets as of January 3, 2017 and December 29, 2015 include $1.5 million and $2.4 million of receivables from franchisees, net of allowances, respectively, which is recorded in receivables in the consolidated balance sheets. Advertising fund liabilities as of January 3, 2017 and December 29, 2015, of $1.4 million and $1.2 million, respectively, are reported in other current liabilities and accounts payable in the Company’s consolidated balance sheets. Advertising Costs - Advertising costs are expensed as incurred and were $2.3 million, $8.5 million and $10.0 million in fiscal years 2016, 2015 and 2014, respectively, and are included in store operating expenses. Advertising contributions received from franchisees, totaled $10.6 million, $7.5 million and $5.8 million for fiscal years 2016, 2015 and 2014, respectively, and were recorded as an offset to advertising expense. Store Pre-Opening Costs - Costs incurred in connection with start-up and promotion of new store openings as well as rent from possession date to store opening date are expensed as incurred. Comprehensive Income - Comprehensive income is defined as the change in equity during a period from transactions and other events, excluding changes resulting from investments from owners and distributions to owners. The Company currently has no components of comprehensive income other than net income, therefore no separate statement of comprehensive income is presented. Income Taxes - Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities due to a change in tax rates is recognized in income in the period that includes the enactment date. In establishing deferred income tax assets and liabilities, judgments and interpretations are made based on enacted tax laws and published tax guidance applicable to the Company’s operations. The Company records deferred tax assets and liabilities and evaluates the need for valuation allowances to reduce deferred tax assets to amounts more likely than not of being realized. Changes in the valuation of the deferred tax assets or changes in the income tax provision may affect the Company’s annual effective income tax rate. Uncertain tax positions are recognized as the greatest amount more than 50% likely of being sustained upon audit based on the technical merits of the position. On a quarterly basis, the Company reviews and updates its inventory of tax positions as necessary to add any new uncertain tax positions taken, or to remove previously identified uncertain positions that have been effectively settled. Additionally, uncertain positions may be re-measured as warranted by changes in facts or law. Accounting for uncertain tax positions requires significant judgments, including estimating the amount, timing and likelihood of ultimate settlement. Although the Company believes that these estimates are reasonable, actual results could differ from these estimates. The Company classifies interest and penalties related to income taxes as a component of income taxes in the consolidated statements of operations. A liability related to an unrecognized tax benefit is offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations in which a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date under the tax law of a jurisdiction or the tax law of a jurisdiction does not require it, and the Company does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit is presented in the financial statement as a liability and is not combined with deferred tax assets. Earnings (Loss) Per Share - Basic earnings (loss) per share is computed based on the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed based on the weighted-average number of common shares and potentially dilutive securities, which includes outstanding options and restricted stock awards granted under the Company’s stock option plans. For fiscal years 2016 and 2014, the Company’s basic weighted average shares outstanding were equal to its diluted weighted average shares outstanding, since the Company experienced net losses. During fiscal years 2015 and 2014, the Company repurchased 1,948,004 and 910,813 shares of common stock, respectively, which reduced the basic weighted average shares outstanding. The Company did not repurchase shares of common stock in fiscal year 2016. Anti-dilutive common stock equivalents of 1.9 million, 1.9 million and 1.5 million have been excluded from diluted weighted-average shares outstanding in fiscal years 2016, 2015 and 2014, respectively. Share-based compensation - The Company’s share-based compensation relates to stock options and restricted stock units and is accounted for at fair value. Stock options for a fixed number of shares are granted to certain employees and directors with an exercise price based on the grant date fair value of the Company’s common stock. Compensation expense is recognized for any unvested stock option awards and time-based restricted stock awards on a straight-line basis or ratably over the requisite service period, generally three or four years. For all award types, the Company makes assumptions for the number of awards that will ultimately not vest (“forfeitures”) in determining the share-based compensation expense for these awards. The Company uses historical data to estimate expected employee behaviors related to option exercises and forfeitures. Compensation expense is trued up for actual forfeitures if different than the estimate. The fair value of options granted was estimated at the date of grant using a Black-Scholes option-pricing model. Option valuation models, including Black-Scholes, require the input of subjective assumptions, which can materially affect the grant date fair value of a stock option award. The assumptions used include the risk-free interest rate, the expected term of the award, expected volatility and expected dividend yield. The risk-free interest rate is based on the zero coupon U.S. Treasury rates appropriate for the expected term of the award. For the expected term of the award, the Company utilized the median of the Company’s peer group’s expected term, after adjusting for vesting and term differences. Expected volatility is based on an average of the Company’s recent historic daily stock price observations of the Company’s common stock during the period immediately preceding the share-based award grant that is equal in length to the award’s expected term and the Company’s implied volatility based on the mean of 180-day call and put options as per the open market. Expected dividends are zero based on the history of not paying cash dividends on the Company’s common stock and its intention not to make dividend payments in the future. The Company grants time-based restricted stock units with a fair value determined based on the closing price of the Company’s common stock on the date of grant. For employees, these restricted stock units typically vest and become unrestricted over the three-year period following the date of grant. For non-employee directors, these restricted stock units typically vest and become unrestricted one year after the date of grant. The Company grants performance-based restricted stock units (“PSUs”), which typically vest upon the Company satisfying c |
Refranchising
Refranchising | 12 Months Ended |
Jan. 03, 2017 | |
Refranchising [Abstract] | |
Refranchising | 2. REFRANCHISING In November 2014, the Company announced an accelerated transition to an asset-light model that included the sale of up to 114 Company Stores in the California market. During fiscal 2015, the Company refranchised 179 opened stores and one unopened store (of which 176 were previously classified as assets held for sale) for total proceeds of $53.1 million which included cash of $51.1 million and notes receivable of $2.0 million. As a result of these transactions, the Company recorded a total gain of $21.6 million on the disposal of assets during fiscal year 2015. At January 3, 2017 and December 29, 2015, notes receivable related to the refranchising was $2.0 million and are included in other long-term assets in the consolidated balance sheets. In connection with the headquarters relocation from Emeryville, California to Frisco, Texas the Company refranchised the Emeryville store in December 2016 for total proceeds of $0.1 million, which resulted in an immaterial gain. In November 2016, the Company announced plans to refranchise of 13 Company-owned stores in the Chicago area which was subsequently completed in the second quarter of 2017. |
Property, Fixtures, and Equipme
Property, Fixtures, and Equipment | 12 Months Ended |
Jan. 03, 2017 | |
Property Plant And Equipment [Abstract] | |
Property, Fixtures, and Equipment | 3. PROPERTY, FIXTURES AND EQUIPMENT Property, fixtures and equipment consisted of the following as of (in thousands): January 3, 2017 December 29, 2015 Leasehold improvements $ 20,734 $ 19,586 Furniture, fixtures and equipment 30,349 28,470 Construction in progress (primarily stores under construction) 74 3,773 Total 51,157 51,829 Less accumulated depreciation and amortization (38,645 ) (36,229 ) Total $ 12,512 $ 15,600 Depreciation expense related to property, fixtures and equipment for fiscal years 2016, 2015 and 2014 was $5.7 million, $6.5 million and $10.0 million, respectively. Assets related to JambaGo were reclassified on the consolidated balance sheets from property, fixtures and equipment to assets held for sale of $0.2 million and $3.1 million for fiscal years 2016 and 2015. In fiscal 2016, the Company corrected certain errors including an overstatement of expenses included within depreciation expense of approximately $0.2 million related to prior period financial statements. The Company determined that the corrections were neither quantitatively or qualitatively material to those periods individually and in the aggregate or to the trend of the reported operating results. |
Goodwill, Trademarks and Other
Goodwill, Trademarks and Other Intangible Assets | 12 Months Ended |
Jan. 03, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill, Trademarks and Other Intangible Assets | 4. GOODWILL, TRADEMARKS AND OTHER INTANGIBLE ASSETS A summary of the changes in goodwill for fiscal 2016 and 2015 follows (in thousands): Amount Balance as of December 30, 2014 $ 945 Additions 232 Reclassification out of assets held for sale 7 Balance as of December 29, 2015 1,184 Refranchise (1 ) Balance as of January 3, 2017 $ 1,183 The carrying amount and accumulated amortization of trademarks and other intangible assets as of January 3, 2017 and December 29, 2015 were as follows (in thousands): Gross Amount Accumulated Amortization Net Amount Intangible Assets As of January 3, 2017 Favorable leases 1,850 (1,850 ) — Trademarks 807 — 807 Franchise agreements and customer lists 677 (511 ) 166 Reacquired franchise rights 599 (245 ) 354 Total $ 3,933 $ (2,606 ) $ 1,327 Gross Amount Accumulated Amortization Net Amount As of December 29, 2015 Favorable leases 1,850 (1,850 ) — Trademarks 807 — 807 Franchise agreements and customer lists 735 (496 ) 239 Reacquired franchise rights 599 (181 ) 418 Total $ 3,991 $ (2,527 ) $ 1,464 Intangible assets, other than trademarks, are amortized over their expected useful lives, ranging from two to seven years. Amortization expense for intangible assets was $0.1 million for fiscal years 2016, 2015 and 2014. The remaining intangible assets, subject to amortization of $0.5 million will continue to be amortized over their estimated useful lives. Expected annual amortization expense for the remaining intangible assets recorded as of January 3, 2017 is as follows (in thousands): Fiscal Year Amortization Expense 2017 $ 114 2018 112 2019 97 2020 62 2021 47 Thereafter 88 Trademarks are not subject to amortization and the Company evaluates for impairment on an annual basis during the fourth quarter or more frequently if events or changes in circumstances indicate that the asset might be impaired. There was no impairment charge for trademarks in fiscal 2016 and fiscal 2015. |
Acquisitions
Acquisitions | 12 Months Ended |
Jan. 03, 2017 | |
Business Combinations [Abstract] | |
Acquisitions | 5. ACQUISITIONS 2015 Acquisition In December 2015, the Company acquired two domestic stores in California from a former franchisee. The purchase was accounted for using the acquisition method of accounting. Under the acquisition method, the purchase price is allocated to the underlying tangible and intangible assets acquired based on their respective fair values. A summary of the purchase price, the fair value of the net assets acquired and the goodwill on the purchase follows (in thousands): Cash paid to acquire stores $ 737 Additional consideration resulting from termination of pre-existing relationships 85 Total purchase consideration $ 822 Net assets acquired: Current assets $ 12 Fixed assets 259 Re-acquired franchise rights 424 Unfavorable Lease (105 ) Net assets acquired $ 590 Goodwill $ 232 There was a gain on termination of pre-existing relationships that was recorded in gain on disposal of assets on the Consolidated Statement of Operations, and resulted in an increase in the purchase price consideration and an increase in goodwill. The pro-forma effect of the acquisition on the Company’s results of operations was not significant. The fair value of the fixed assets acquired is classified as level 2 and is based on inputs other than quoted prices in active markets included in level 1, which are either directly or indirectly observable, to estimate replacement value. The fair value of re-acquired franchise rights is classified as level 3, and is based on significant unobservable inputs and assumptions such as management’s estimate of operating profit and assumed discount rates. Significant changes in the inputs or assumptions would increase or decrease the fair value measurements that would impact the depreciation or amortization of fixed assets and reacquired franchise rights and future impairment, if any. The fixed assets acquired include leasehold improvements which have an estimated useful life of the lesser of 10 years or the remaining term of the underlying lease. The estimated useful life for furniture, fixtures, and equipment acquired is three to 10 years. 2014 Acquisition In September 2014, the Company acquired 26 domestic stores, of which three were immediately closed, in the Midwest from a former franchise partner pursuant to a Settlement and General Release Agreement. The purchase was accounted for using the acquisition method of accounting. Under the acquisition method, the purchase price is allocated to the underlying tangible and intangible assets acquired based on their respective fair values. A summary of the purchase price, the fair value of the net assets acquired and the gain on the purchase follows (in thousands): Cash paid to acquire stores $ 725 Additional consideration resulting from termination of pre-existing relationships 369 Total purchase consideration $ 1,094 Net assets acquired: Current assets $ 145 Fixed assets 365 Re-acquired franchise rights 476 Other assets and liabilities 343 Net assets acquired $ 1,329 Bargain purchase gain $ 235 The bargain purchase price and resulting gain was the result of a reacquisition of stores from a franchisor due to their failure to comply with the franchise agreement. The gain is recorded in the Consolidated Statement of Operations. In addition, there was a gain on termination of pre-existing relationships that was recorded in the Consolidated Statement of Operations, and resulted in an increase in the purchase price consideration and a decrease in the bargain purchase gain. The pro-forma effect of the acquisition on the Company’s results of operations was not significant. The fair value of the fixed assets acquired is classified as level 3 and is based on unobservable inputs including projected future operating results at the store level and assumed discount rates are applied to calculate the present value of the assets. The fair value of re-acquired franchise rights is classified as level 3, and it is based on significant unobservable inputs and assumptions such as management’s estimate of operating profit and assumed discount rates. Significant changes in the inputs or assumptions would increase or decrease the fair value measurements for future impairment of the fixed assets and reacquired franchise rights. The fixed assets acquired include leasehold improvements which have an estimated useful life of the lesser of 10 years or the remaining term of the underlying lease. The estimated useful life for furniture, fixtures, and equipment acquired is three to 10 years. The Company began actively marketing 26 acquired stores in February 2015, which resulted in the determination that the criteria for classification of assets held for sale were met. As a result, 22 store locations were reclassified to assets held for sale during the first quarter of 2015. As of December 29, 2015, these stores were reclassified out of assets held for sale resulting from management’s decision to retain or close certain of the stores. |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Jan. 03, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 6. FAIR VALUE MEASUREMENT Financial Assets and Liabilities Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: Level 1: Quoted prices are available in active markets for identical assets or liabilities. Level 2: Inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable. Level 3: Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions that market participants would use in pricing. In the fiscal years 2016 and 2015, the Company recorded gains of $0.3 million and $0.2 million included in gain on contingent consideration within other operating, net, due to a change in circumstances under which remaining contingent consideration was no longer deemed probable of payment. Non-financial Assets and Liabilities There are no long-lived assets being carried at fair value as of January 3, 2017 and December 29, 2015. As a result of its quarterly impairment reviews, the Company recognized impairment of $0.4 million, $0.6 million and $0.2 million included in impairment of long-lived assets in the Consolidated Statements of Operations for fiscal years 2016, 2015 and 2014, respectively. The losses for fiscal years 2016 and 2014 are all due to impairment of fixed assets. The losses for fiscal 2015 are due to $0.3 million of impairment of trademarks and $0.3 million impairment of fixed assets. |
Notes Receivable and Other Long
Notes Receivable and Other Long-term Assets | 12 Months Ended |
Jan. 03, 2017 | |
Receivables [Abstract] | |
Notes Receivable and Other Long-term Assets | 7. NOTES RECEIVABLE AND OTHER LONG-TERM ASSETS As of January 3, 2017 and December 29, 2015, other long-term assets consisted of the following (in thousands): January 3, 2017 December 29, 2015 Notes receivable $ 1,879 $ 3,107 Deposits and other 889 582 Investment in unconsolidated subsidiaries 126 522 Total $ 2,894 $ 4,211 As of January 3, 2017 and December 29, 2015, notes receivable includes notes from franchisees totaling $1.9 million and $3.1 million, respectively. The note entered into during fiscal 2015 of $2.0 million has a maturity date of February 1, 2021 and the annual interest rate is 3% per annum. |
Development Agreements
Development Agreements | 12 Months Ended |
Jan. 03, 2017 | |
Development Agreements [Abstract] | |
Development Agreements | 8. DEVELOPMENT AGREEMENTS The Company has entered into multi-unit license agreements with area developers to build stores in certain geographic regions. Under typical multi-unit license agreements, the area developer generally pays one-half of the initial nonrefundable fee multiplied by each store to be built as a nonrefundable development fee upon execution of the multi-unit development agreement. This deposit is included in deferred revenue in the accompanying Consolidated Financial Statements. The agreements are generally for a term of five years. Each time a store is opened under the multi-unit license agreement, the Company credits the franchisee one-half of the initial fee as part of the development fee and the franchisee is required to pay the remaining one-half of the initial fee. The following table summarizes data about the development agreements for Franchise and International Stores as of: January 3, 2017 December 29, 2015 Number of developers with Franchise Store contractual commitments 27 32 Number of Franchise Stores for which commitments exist 122 163 Number of developers with International Stores contractual commitments 6 7 Number of International Stores for which commitments exist 307 485 Deferred franchise revenue is included in other current liabilities and other long-term liabilities in the Company’s consolidated balance sheets. As of January 3, 2017 and December 29, 2015, deferred franchise revenue included $1.3 million and $1.1 million, respectively, relating to non-refundable development fees and initial fees paid by domestic franchisees whose stores have not yet opened. In addition, deferred franchise revenue as of January 3, 2017 and December 29, 2015 included $1.5 million and $1.5 million, respectively, relating to non-refundable international development fees. |
Deferred Rent and Other Long-Te
Deferred Rent and Other Long-Term Liabilities | 12 Months Ended |
Jan. 03, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Deferred Rent and Other Long-Term Liabilities | 9. DEFERRED RENT AND OTHER LONG-TERM LIABILITIES Other long-term liabilities consisted of the following (in thousands): January 3, 2017 December 29, 2015 Deferred rent $ 2,260 $ 2,961 Deferred revenue 2,950 3,720 Construction allowance 1,423 735 Other liabilities 2,307 1,574 Total deferred rent and other long-term liabilities $ 8,940 $ 8,990 |
Lease Commitments
Lease Commitments | 12 Months Ended |
Jan. 03, 2017 | |
Leases [Abstract] | |
Lease Commitments | 10. LEASE COMMITMENTS The Company leases its office, retail stores, and some equipment under operating leases, with terms expiring through 2027. Most store leases have an initial term of 10 years, with renewal options of up to 10 years and provide for payment of common area operating expenses and real estate taxes. When the Company refranchises Company Stores, usually the franchisees become sublessees and the Company continues to be obligated under the existing lease agreements for the remainder of the lease terms. Rental expense, net of sublease income was $7.1 million, $15.6 million and $22.3 million in fiscal years 2016, 2015 and 2014, respectively, and was recorded in occupancy and general and administrative expenses in the accompanying Statements of Operations. The Company recognized sublease income of $20.5 million, $13.8 million and $9.2 million in fiscal years 2016, 2015 and 2014, respectively. Contingent rent included in occupancy costs in the Statements of Operations was $0.4 million, $0.5 million and $0.5 million in fiscal years 2016, 2015 and 2014, respectively. The aggregate future minimum noncancelable lease payments and minimum rentals to be received from sublessees as of January 3, 2017, were as follows (in thousands): Fiscal Year Ending: Minimum lease payments Minimum rentals to be received 2017 $ 26,354 $ 20,117 2018 22,539 16,734 2019 18,569 13,505 2020 14,585 10,236 2021 10,769 7,446 Thereafter 22,500 12,583 Total $ 115,316 $ 80,621 |
Credit Agreement
Credit Agreement | 12 Months Ended |
Jan. 03, 2017 | |
Debt Disclosure [Abstract] | |
Credit Agreement | 11. CREDIT AGREEMENT On November 3, 2016, the Company entered into a credit agreement with Cadence Bank, NA (“New Credit Agreement”). The New Credit Agreement provides an aggregate principal amount of up to $10.0 million. The credit facility also allows the Company to request an additional $5.0 million for an aggregate principal amount of up to $15.0 million. The New Credit Agreement accrues interest at a per annum rate equal to the LIBOR rate plus 2.50%. The New Credit Agreement contains customary affirmative and negative covenants and has a five-year term. Under the terms of the New Credit Agreement, the Company is required to either maintain minimum cash or consolidated EBITDA levels and minimum levels of tangible net worth and a minimum fixed charge coverage ratio. The New Credit Agreement terminates November 3, 2021. This credit facility is subject to customary affirmative and negative covenants for credit facilities of this type, including limitations on the Company with respect to liens, indebtedness, guaranties, investments, distributions, mergers and acquisitions and dispositions of assets. The credit facility is evidenced by a revolving note made by the Company in favor of the Lender, is guaranteed by the Company and is secured by substantially all of its assets including the assets of its subsidiary and a pledge of stock of its subsidiary. To acquire the credit facility, the Company incurred upfront fees, which are being amortized over the term of the Credit Agreement. As of January 3, 2017, the unamortized commitment fee amount was not material and is recorded in prepaid expenses in the consolidated balance sheets. As of January 3, 2017, the Company had no borrowings against the credit facility and was in compliance with the financial covenants to the Credit Agreement. On February 14, 2012, the Company entered into a Credit Agreement with Wells Fargo Bank, National Association (the “Lender”), which, as amended on November 1, 2012, July 22, 2013, November 4, 2013 and December 29, 2015 (as amended, the “Credit Agreement”), made available to the Company a revolving line of credit in the amount of $10.0 million. The outstanding balance under the amended credit facility accrued interest at a LIBOR Market Index Rate based upon the rate for one month U.S. dollar deposits, plus 2.50% per annum. On July 22, 2016, the Credit Agreement expired with no amounts drawn on the credit facility since its inception. The existing letters of credit balance of $0.4 million is collateralized by restricted cash at January 3, 2017. During the term of the Credit Agreement, the unamortized commitment fee amount was not material. This credit facility was subject to customary affirmative and negative covenants for credit facilities of this type, including limitations on the Company with respect to liens, indebtedness, guaranties, investments, distributions, mergers and acquisitions and dispositions of assets. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Jan. 03, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share-Based Compensation | 12. SHARE-BASED COMPENSATION Jamba, Inc. 2013 Equity Incentive Plan (“the Plan”) authorizes the Company to provide incentive compensation in the form of stock options, restricted stock and stock units (“RSUs”), performance shares and units (“PSUs”), other stock-based and restricted stock-based awards (“RSAs”), cash-based awards and deferred compensation awards. In addition, the Company periodically authorizes grants of stock-based compensation as inducement awards to new employees. This type of award does not require shareholder approval in accordance with Rule 5635(c)(4) of the Nasdaq listing rules. On May 17, 2016, at its 2016 Annual Meeting of Shareholders, the Company’s shareholders, upon the recommendation of the Board of Directors, approved an additional 900,000 shares of common stock to be offered or issued under the 2013 Plan. The 2013 Plan authorizes up to 3,028,847 shares. As of January 3, 2017, under the Company’s 2013 Plan, there remained 842,120 shares available for grant. All plan equity grants were issued from the 2013 Plan and it is currently the only equity plan from which future equity awards may be granted. Options granted under the 2013 Plan and inducement awards have an exercise price equal to the closing price of the Company’s common stock on the grant date, are generally exercisable for up to 10 years, and vest annually over a four-year period. Unvested shares are forfeited upon termination of employment, unless the award agreement provides otherwise. Share-based compensation expense was $2.6 million, $5.2 million and $3.1 million for fiscal years 2016, 2015 and 2014, respectively, and is included in general and administrative expenses in the Consolidated Statements of Operations. For fiscal years 2016, 2015 and 2014, the total income tax benefit recognized in our Consolidated Statements of Operations in connection with all share-based compensation awards was $0, $0.6 million and $0, respectively. Stock Options The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions. Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Weighted-average risk-free interest rate 1.36 % 1.75 % 0.12 % Expected life of options (years) 5.22 5.85 0.80 Expected stock volatility 40.5 % 43.7 % 60.8 % Expected dividend yield 0 % 0 % 0 % For fiscal 2014, the table above reflects 5,000 options that had an accelerated vesting stock modification related to terminated executives. No other options were issued in fiscal 2014. A summary of the stock option activities for fiscal year 2016 is presented below (shares and dollars in thousands): Number of Options Weighted- Average Exercise Price Weighted- Average Contractual Term Remaining Aggregate Intrinsic Value Outstanding at December 29, 2015 1,530 $ 12.42 5.76 $ 3,960 Granted 315 13.11 Exercised (197 ) 5.50 Canceled (448 ) 16.00 Outstanding at January 3, 2017 1,200 $ 12.40 5.05 $ 1,213 Options vested or expected to vest at January 3, 2017 1,112 $ 12.32 4.86 $ 1,213 Options exercisable at January 3, 2017 485 $ 10.74 1.65 $ 1,211 The intrinsic value of stock options is defined as the difference between the current market value and the exercise price, which is equal to the market value at the time of the grant. Information regarding options outstanding and exercisable at January 3, 2017 is as follows (shares in thousands): Range of Exercise Prices Number Outstanding Weighted- Average Remaining Contractual Life (Years) Weighted- Average Exercise Price Number Exercisable Weighted- Average Exercise Price $3.00 - $3.00 141 1.05 $ 3.00 141 $ 3.00 $5.40 - $10.87 130 4.14 9.02 89 8.33 $10.93 - $11.65 139 6.43 11.41 58 11.13 $11.98 - $11.98 10 4.37 11.98 10 11.98 $12.35 - $12.35 153 9.05 12.35 3 12.35 $13.30 - $13.71 44 7.69 13.49 15 13.44 $13.94 - $13.94 503 4.46 13.94 139 13.94 $19.50 - $45.55 68 6.87 21.89 18 28.38 $47.55 - $47.55 6 0.44 47.55 6 47.55 $50.25 - $50.25 6 0.42 50.25 6 50.25 1,200 5.05 $ 12.40 485 10.74 The weighted-average grant date fair value of options granted was $4.30 in fiscal 2016, $13.92 in fiscal 2015 and $5.64 in fiscal 2014. At January 3, 2017, stock options vested or expected to vest over the next four years totaled 1.1 million. The remaining expense to amortize is approximately $1.7 million at January 3, 2017. The weighted-average remaining recognition period is approximately two years. Restricted Stock Awards Restricted stock awards are granted to members of our Board of Directors as part of their compensation. Awards are fully vested and expensed when granted. The fair value of restricted stock awards is the market close price of our common stock on the date of the grant. In fiscal years 2016 and 2015, 3,514 and 1,094 restricted stock awards were issued with a weighted average grant date fair value per share of $12.80 and $13.71, respectively. There were no RSAs granted in fiscal 2014. Time-Based Restricted Stock Units Information regarding activities during fiscal 2016 for outstanding time-based RSUs is as follows (shares in thousands): Number of shares of RSUs Weighted- Average Grant Date Fair Value (per share) Outstanding as of December 29, 2015 190 14.09 Granted 44 11.31 Forfeited (39 ) 13.95 Vested (127 ) 13.70 Outstanding as of January 3, 2017 68 $ 13.11 During fiscal years 2016, 2015 and 2014, the Company granted 44,000, 52,000 and 270,000 time-based RSUs at a weighted average grant date fair value of $11.31, $15.10 and $13.21, respectively, with a vesting period of three years. Compensation expense for time-based RSUs is recognized over the vesting period on a straight-line basis. The aggregate grant date fair value of the time-based RSUs granted during fiscal years 2016, 2015 and 2014 was $0.5 million, $0.8 million, and $3.3 million, respectively. The aggregate intrinsic value of time-based RSUs outstanding as of January 3, 2017, December 29, 2015 and December 30, 2014 was $0.7 million, $2.6 million and $4.0 million, respectively. At January 3, 2017, unvested share-based compensation for time-based RSUs, net of forfeitures, totaled $0.5 million. This expense will be recognized over the remaining weighted-average vesting period of approximately one year. Performance-Based Restricted Stock Units Information regarding activities during fiscal 2016 for outstanding PSUs is as follows (shares in thousands): Number of shares of PSUs Weighted- Average Grant Date Fair Value (per share) Outstanding as of December 29, 2015 57 13.89 Granted 8 10.11 Forfeited (46 ) 13.85 Vested (2 ) 14.04 Outstanding as of January 3, 2017 17 $ 12.27 During fiscal years 2016 and 2014, the Company granted 8,000 and 95,000 PSUs at a weighted average grant date fair value of $10.11 and $14.37, respectively. There were no PSUs granted during fiscal 2015. The aggregate grant date fair value of the PSUs during fiscal 2014 was $1.2 million. The aggregate intrinsic value of the PSUs outstanding as of January 3, 2017 and December 29, 2015 was expense of $0.2 million and $0.8 million, respectively. At January 3, 2017, unvested share-based compensation for PSUs, net of forfeitures, was less than $0.1 million, which will be recognized over the remaining weighted-average vesting period of approximately seven months. Market-Based Restricted Stock Units Information regarding activities during fiscal 2016 for outstanding market-based RSUs is as follows (shares in thousands): Number of market-based RSUs Weighted- Average Grant Date Fair Value (per share) Outstanding as of December 29, 2015 — — Granted 505 3.04 Forfeited — — Vested — — Outstanding as of January 3, 2017 505 $ 3.04 In January 2016, in connection with the hiring of the Company’s new Chief Executive Officer, the Company granted equity awards which included an award of 350,000 market-based RSUs vesting upon achievement of compound annual stock price growth rate targets of 15%, 22.5% and 30% over a three-year period, which were granted in May 2016. During fiscal 2016, the Company also granted inducement awards in connection with executive hiring which included 155,000 market-based RSUs vesting upon achievement of compound annual stock price growth rate targets of 15%, 22.5% and 30%. Compensation expense related to market-based RSUs is recognized over the requisite service period on a straight-line basis. The requisite service period is a measure of the expected time to reach the respective vesting threshold. We estimated this period by utilizing a Monte Carlo simulation, considering only those stock price-paths in which the threshold was exceeded. The estimated requisite service period for the market-based RSUs issued in fiscal 2016 ranges between approximately eighteen and twenty-four months. The aggregate grant date fair value of the market-based RSUs granted during fiscal 2016 was $1.5 million. There were no market-based RSUs granted during fiscal 2015 or 2014. The aggregate intrinsic value of the market-based RSUs outstanding as of January 3, 2017 was $5.2 million. At January 3, 2017, unvested share-based compensation for market-based RSUs, net of forfeitures, was $0.9 million, which will be recognized over the remaining weighted-average recognition period of approximately fourteen months. |
Stock Repurchases
Stock Repurchases | 12 Months Ended |
Jan. 03, 2017 | |
Equity [Abstract] | |
Stock Repurchases | 13. STOCK REPURCHASES On August 4, 2016, the Company announced that its Board of Directors approved the terms of a share repurchase plan (the "2016 Stock Repurchase Program"). Pursuant to the 2016 Stock Repurchase Program, the Company is authorized to repurchase up to $20.0 million of its common stock subject to available cash resources over the next two-year period. The Company may repurchase shares on the open market, through privately negotiated transactions or otherwise, at times, in amounts and at prices considered appropriate by the Company. The number of shares to be purchased and the timing of any purchases are subject to various factors, including the price of the Company’s common stock, the Company’s capital position, the amount of retained earnings of the Company, general market conditions and other economic factors and corporate and regulatory requirements, and may be modified, suspended or terminated at any time. On October 29, 2014, the Company’s Board of Directors authorized the repurchase of up to $25.0 million of shares of common stock over an 18-month period (the "2014 Stock Repurchase Program"). The Company’s Board of Directors authorized an increase to the Stock Repurchase Program of $15.0 million to a total of $40.0 million in May 2015 and an additional $5.0 million to a total of $45.0 million in September 2015, which expired on May 4, 2016. Shares repurchased under the Stock Repurchase Program are considered treasury stock until retired. During fiscal 2015 and fiscal 2014, the Company repurchased approximately 2.0 million and 0.9 million shares, respectively, under the Stock Repurchase Program. The average price per share during fiscal 2015 and fiscal 2014 was $14.38 and $13.17, respectively, with an aggregate cost of $28.0 million and $12.0 million for fiscal 2015 and fiscal 2014, respectively, leaving $5.0 million available for share repurchases. Shares repurchased under the stock repurchase programs are considered treasury stock until retired. During fiscal year 2016, the Company did not repurchase shares under the 2016 Stock Repurchase Program or the 2014 Stock Repurchase Program. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 03, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 14. INCOME TAXES The components of the income tax (expense) benefit are as follows (in thousands): January 3, 2017 December 29, 2015 December 30, 2014 Current: Federal $ — $ (438 ) $ — State (14 ) (149 ) (37 ) Foreign (65 ) (114 ) (131 ) $ (79 ) $ (701 ) $ (168 ) Deferred: Federal $ — $ — $ — State — — — Foreign — — — $ — $ — $ — Income tax benefit (expense) $ (79 ) $ (701 ) $ (168 ) The difference between the effective income tax rate and the United States federal income tax rate is summarized as follows: January 3, 2017 December 29, 2015 December 30, 2014 Statutory federal rate 34.0 % 34.0 % 34.0 % State income taxes less federal benefit (1.4 ) (9.2 ) 5.9 Foreign income taxes (0.3 ) 1.1 (2.5 ) Change in valuation allowance (24.6 ) (38.1 ) (31.5 ) Meals (0.1 ) 0.3 (1.2 ) Business Gain on Acquisition — — 8.5 Alternative minimum taxes — 0.1 (1.0 ) Expired tax attribute carryforwards (6.4 ) 11.1 (17.0 ) Tax credits generated — (0.1 ) 0.3 Other (1.6 ) 7.7 (0.3 ) (0.4 )% 6.9 % (4.8 )% Deferred income taxes are provided for the temporary differences between the carrying values of the Company’s assets and liabilities for financial reporting purposes and their corresponding income tax bases. The temporary differences give rise to either a deferred tax asset or liability in the financial statements that is computed by applying current statutory tax rates to taxable and deductible temporary differences. The deferred tax assets (liabilities) consisted of the following temporary differences as of January 3, 2017 and December 29, 2015 (in thousands): January 3, 2017 December 29, 2015 Net operating losses $ 62,875 $ 50,837 Reserves and accruals 5,073 10,754 Deferred rent 967 1,518 Tax credit attributes 1,957 1,999 Basis difference in intangibles 1,152 1,510 Share-based compensation 1,915 2,979 Basis difference in fixed assets 5,670 3,245 Basis difference in intangibles (95 ) (289 ) Basis difference in investments 144 4 Reserves and accruals (29 ) (64 ) Total gross deferred tax asset 79,629 72,493 Valuation allowance (79,629 ) (72,493 ) Total net deferred tax asset $ — $ — Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. A valuation allowance is provided for deferred tax assets when it is “more likely than not” that some portion of the deferred tax asset will not be realized. Because of the Company’s recent history of operating losses, management believes the recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a valuation allowance. A valuation allowance has been recorded for the net deferred tax assets at January 3, 2017, which increases the valuation allowance by $7.1 million for the fiscal year ended January 3, 2017. At January 3, 2017, the Company has federal and state net operating loss carryovers (“NOL”) of $148.4 million and $144.5 million, respectively, which, if not used earlier, will expire between 2017 and 2036. In addition, the Company also has tax credit carryforwards for federal and state purposes of $1.1 million and $0.9 million, respectively. Approximately $0.3 million of the federal tax credit carryforwards will start to expire in 2031 if unused before that year. Of the state tax credit carryforwards, approximately $0.7 million will start to expire in 2023 if unused before that year. The remaining federal tax credits and the state tax credits do not expire. The Company underwent an “ownership change” as defined in section 382 of the Internal Revenue Code during the second quarter of the Company’s 2009 fiscal year, as a result of the Company’s issuance of Series B-1 Convertible Preferred Stock and Series B-2 Convertible Preferred Stock and other prior trading in the Company’s stock. The amount of NOL and tax credits from pre-change years that may be used to offset the Company’s taxable income for tax years ending after the ownership change is subject to an annual limitation, known as a section 382 limitation. The section 382 limitation may cause NOL’s to expire unutilized. The Company reduced its NOL carryovers stated above for the anticipated expirations caused by the Company’s 2009 change. Since the section 382 ownership change in 2009, the Company has performed quarterly analyses to monitor its ownership for 382 purposes. The Company has not had any other ownership changes for section 382 purposes since 2009. Changes in the Company’s unrecognized tax benefits are as follows (in thousands): Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Beginning balance $ 185 $ 185 Increases attributable to tax positions taken during prior periods — — Decreases resulting from lapse of applicable statutes of limitations — — Ending balance $ 185 $ 185 As of January 3, 2017, the entire unrecognized tax benefits reduce the deferred tax asset for the net operating loss carryforwards. If recognized, none of the unrecognized tax benefits would impact the Company’s effective tax rate. As of January 3, 2017, it is reasonably possible that the unrecognized tax benefits will not significantly increase or decrease in the next twelve months. The Company is subject to taxation in the United States and various state and local jurisdictions. As of January 3, 2017, the Company is not subject to any income tax examinations. Due to tax attribute carryforwards, as of January 3, 2017, the Company remains effectively subject to U.S. federal, state and local income tax examinations by tax authorities for the tax years since 2006. |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Jan. 03, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Employee Benefit Plan | 15. EMPLOYEE BENEFIT PLAN The Company maintains a voluntary defined contribution plan covering all eligible employees. Eligible employees may elect to defer and contribute a percentage of their compensation to the plan, not to exceed the dollar amount set by law. The Company matched employees’ contributions on a discretionary basis, resulting in a contribution of less than $0.1 million each for fiscal years 2016, 2015 and 2014. |
Severance and Other Compensatio
Severance and Other Compensation | 12 Months Ended |
Jan. 03, 2017 | |
Severance Disclosure [Abstract] | |
Severance and Other Compensation | 16. SEVERANCE AND OTHER COMPENSATION In connection with the relocation of the Company’s headquarters from Emeryville, California to Frisco, Texas, the Company incurred severance and bonus obligations. At January 3, 2017, $1.6 million of severance and $0.8 million of retention expenses are classified in accrued compensation and benefits and accounts payable, respectively, in the consolidated balance sheets. Additionally, the Company expects to pay bonuses of $0.9 million at the beginning of second quarter in fiscal 2017. The remaining payments will be completed by the end of the second quarter 2018. On October 1, 2015, the Company announced the retirement of James D. White, the former Chief Executive Officer. In accordance with his employment agreement, severance and bonus of $0.8 million have been accrued for in fiscal 2015 and paid in full in fiscal 2016. Also during fiscal 2015, severance of $0.6 million was recorded for certain departures of two senior executives. Expenses relating to acceleration of options and awards from stock modifications related to the departure of the three executives of $0.8 million were also accounted for in fiscal 2015 and are included as part of stock compensation. These payments were completed during fiscal year 2016. |
Store Lease Termination and Clo
Store Lease Termination and Closure Costs | 12 Months Ended |
Jan. 03, 2017 | |
Leases [Abstract] | |
Store Lease Termination and Closure Costs | 17. STORE LEASE TERMINATION AND CLOSURE COSTS On January 3, 2017, the Company closed one underperforming Company Store in the California market, which was prior to expiration of the contractual lease term. The Company recorded exit costs of $3.6 million, including accrued exit costs of $1.3 million related to the estimated fair value of the lease termination obligation and $2.3 million of asset write-off. During the fourth quarter of 2015, in conjunction with its transition to an asset-light model, the Company performed a review of its portfolio of Company Stores, and as a result, closed eight underperforming Company Stores in the Chicago and New York City markets on December 29, 2015, which was prior to expiration of their contractual lease terms. The Company accrued exit costs of $1.6 million, including $1.3 million related to the estimated fair value of the lease termination obligation, $0.2 million of asset write-off, and $0.1 million related to severance. At January 3, 2017, the remaining lease termination obligation was approximately $0.5 million related to one of the stores closed in 2015. The Company estimates the fair value of the remaining lease termination obligation as of the cease-use date, using a weighted average of multiple outcomes approach which considered for each lease: future contractual lease obligations, net of projected sub-lease income (limited to amount of the rental obligation) after a period for remarketing, outcomes including buyout fees for early termination and actual terminations. Future cash flows are discounted using the Company’s credit adjusted risk free rate, which were estimated at 4.95% and 6.5% in fiscal years 2016 and 2015, respectively. Sublease rental income and absorption period assumptions were based on data available from rental activity in the local markets. Assumptions about potential buyout payments were also based on data available from rental activity in the local markets, allowed for a period for negotiation and then a final settlement at a multiple of monthly rental and common area payments. As of January 3, 2017, the Company’s future lease obligations totaled approximately $3.5 million, which was reduced for estimates for sublease rental income of $1.6 million. The net obligation after discounting was increased for estimated transaction fees to advisors of approximately $0.1 million. The resulting obligation at estimated fair value totaled approximately $1.8 million. Considerable management judgment is necessary to estimate net future cash flows including cash flows from continuing use, terminal value and sublease income. Accordingly, actual results could vary from the estimates. If these assumptions or their related estimates change in the future, the Company will be required to record additional exit costs or reduce exit costs previously recorded. Exit costs recorded for each of the periods presented include the effect of such changes in estimates; there were no subsequent changes during 2016 to the amount of the obligation. |
Other Operating, Net
Other Operating, Net | 12 Months Ended |
Jan. 03, 2017 | |
Other Operating Net [Abstract] | |
Other Operating, Net | 18. OTHER OPERATING, NET The components of other operating, net are as follows (in thousands): Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Jambacard breakage income $ (4,096 ) $ (5,440 ) $ (4,744 ) Jambacard expense 902 1,155 1,299 CPG and JambaGO ® 1,700 3,035 2,637 Franchise discount expense 461 706 847 Franchise other expense 676 834 1,025 Sublease income (670 ) (192 ) (121 ) Bad debt 1,560 1,474 61 International expense 613 708 316 Gain on contingent consideration - (156 ) (397 ) Other (income) expense (63 ) (329 ) (197 ) Total other operating, net $ 1,083 $ 1,795 $ 726 |
Other Commitments and Contingen
Other Commitments and Contingencies | 12 Months Ended |
Jan. 03, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Other Commitments and Contingencies | 19. OTHER COMMITMENTS AND CONTINGENCIES Litigation Related - The Company records a liability for litigation claims and contingencies when payment is probable and the amount of loss can be reasonably estimated. In fiscal year 2016, the Company recognized $2.0 million in charges associated with ongoing and settled litigation matters based on the available information at the time. The amounts recognized related to aggregate amounts for resolution of the Company’s ordinary course litigation cases estimated at $1.0 million and a commercial vendor dispute settled for $1.0 million. The losses were included in general and administrative expenses in the accompanying Statements of Operations. The Company did not include any reserve for losses relating to ongoing and settled litigation matters in 2015 or 2014. The Company is a defendant in litigation arising in the normal course of business. Although there can be no assurance as to the ultimate disposition of these matters, it is the opinion of the Company’s management, based upon the information available at this time, that the expected outcome of these matters, individually or in the aggregate, will not have a material adverse effect on the results of operations, liquidity or financial condition of the Company, except as noted above. Other - The Company has purchase obligations with certain suppliers for certain fruits and dairy for various terms typically ranging from one year to five years. The Company has one contract with a supplier for a 15 year term that ends in 2024. These contracts are commitments to purchase a minimum level of fruit and other items used in the production of the Company’s products totaling $30.7 million, inclusive of purchase commitments of $1.0 million related to a dispute with a commercial vendor. |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Jan. 03, 2017 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | 20. RELATED-PARTY TRANSACTIONS In fiscal 2016 and fiscal 2015, the Company received $0.2 million from Country Pure Foods related to vendor supply chain management fees and approximately $0.3 million from Sodexo related to licensing fees for Jamba units operated by Sodexo. One Jamba Juice Director is on the Board of Directors of Country Pure Foods and another Jamba Juice Director is an executive with Sodexo. |
Unaudited Quarterly Information
Unaudited Quarterly Information | 12 Months Ended |
Jan. 03, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Unaudited Quarterly Information | 21. UNAUDITED QUARTERLY INFORMATION The tables below provide the Company’s unaudited consolidated results of operations for each quarter in 2016 and 2015: (In thousands, except share and per share amounts) Thirteen Weeks Ended March 29, 2016 Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended September 27, 2016 Fourteen Weeks Ended January 3, 2017 Revenue: Company stores $ 11,953 $ 13,874 $ 14,350 $ 11,105 Franchise and other revenue 6,801 7,666 7,711 6,163 Total revenue 18,754 21,540 22,061 17,268 Costs and operating expenses (income): Cost of sales 2,962 3,321 3,437 2,881 Labor 4,158 4,668 4,644 4,402 Occupancy 2,036 1,900 1,879 1,844 Store operating 2,362 2,272 2,381 2,270 Depreciation and amortization 1,502 1,674 1,068 1,505 General and administrative 7,610 9,423 9,699 11,226 Gain on disposal of assets 109 188 204 289 Store pre-opening 324 326 210 364 Impairment of long-lived assets — 127 229 3,054 Store lease termination and closure 120 (56 ) 178 3,918 Other operating, net 271 245 104 463 Total costs, operating expenses, and gain 21,454 24,088 24,033 32,216 Loss from operations (2,700 ) (2,548 ) (1,972 ) (14,948 ) Other income (expense): Interest income 71 74 50 55 Interest expense (59 ) (59 ) (51 ) (270 ) Total other income (expense), net 12 15 (1 ) (215 ) Loss before income taxes (2,688 ) (2,533 ) (1,973 ) (15,163 ) Income tax (expense) benefit (132 ) 54 9 (10 ) Net loss (2,820 ) (2,479 ) (1,964 ) (15,173 ) Less: Net income attributable to noncontrolling interest — — — — Net loss attributable to Jamba, Inc. $ (2,820 ) $ (2,479 ) $ (1,964 ) $ (15,173 ) Loss per share attributable to Jamba, Inc. common shareholders: Basic $ (0.19 ) $ (0.16 ) $ (0.13 ) $ (0.99 ) Diluted $ (0.19 ) $ (0.16 ) $ (0.13 ) $ (0.99 ) (In thousands, except share and per share amounts) Thirteen Weeks Ended March 31, 2015 Thirteen Weeks Ended June 30, 2015 Thirteen Weeks Ended September 29, 2015 Thirteen Weeks Ended December 29, 2015 Revenue: Company stores $ 47,728 $ 48,360 $ 28,213 $ 12,724 Franchise and other revenue 4,776 5,766 7,284 6,825 Total revenue 52,504 54,126 35,497 19,549 Costs and operating expenses (income): Cost of sales 12,407 11,474 6,626 3,230 Labor 16,088 14,876 8,843 4,925 Occupancy 6,835 6,131 3,980 2,005 Store operating 8,034 8,059 5,901 3,158 Depreciation and amortization 1,873 1,344 1,143 2,209 General and administrative 8,963 8,427 9,003 10,479 Gain on disposal of assets (778 ) (4,480 ) (16,076 ) (275 ) Store pre-opening 22 166 287 556 Impairment of long-lived assets 0 295 1,907 321 Store lease termination and closure 22 40 207 1,400 Other operating, net 706 1,333 375 (619 ) Total costs, operating expenses, and gain 54,172 47,665 22,196 27,389 (Loss) income from operations (1,668 ) 6,461 13,301 (7,840 ) Other income (expense): Interest income 15 14 49 59 Interest expense (41 ) (68 ) (53 ) (58 ) Total other expense, net (26 ) (54 ) (4 ) 1 (Loss) income before income taxes (1,694 ) 6,407 13,297 (7,839 ) Income tax benefit (expense) (26 ) (57 ) (194 ) (424 ) Net (loss) income (1,720 ) 6,350 13,103 (8,263 ) Less: Net income attributable to noncontrolling interest 31 21 — — Net (loss) income attributable to Jamba, Inc. $ (1,751 ) $ 6,329 $ 13,103 $ (8,263 ) (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ (0.11 ) $ 0.39 $ 0.83 $ (0.55 ) Diluted $ (0.11 ) $ 0.38 $ 0.81 $ (0.55 ) The sum of (loss) earnings per share for all four quarters may not equal the loss per share of the fiscal year due to rounding. In connection with the store closure in late fiscal 2016 and the exit of Jamba GO ® In the second quarter of 2015, the Company sold its 88% interest in JJSC to the holder of JJSC’s noncontrolling interest, in connection with our transition to an asset-light model. Gain on disposal of assets increased primarily due to the transition to an asset-light model during fiscal 2015. As a result, the Company recorded net income in the second and third quarter and for the full fiscal year of 2015 compared to a net loss in fiscal 2016. In the Statements of Operations for the third quarter ended September 27, 2016 and fourth quarter ended January 3, 2017, the Company corrected certain out-of-period errors related to prior period financial statements. The out-of-period errors related to both the first and second quarters of 2016 as well as 2015, 2014 and earlier results. The adjustments arose from various errors in depreciation expense, share-based compensation, impairments and balance sheet accruals affecting revenues and general and administrative expenses. The Company evaluated and concluded that the corrections made for the out-of-period errors in the third and fourth quarter, and the unadjusted impact on the prior periods, were neither quantitatively or qualitatively material to those periods individually or in the aggregate. The following table details the specific amounts of out-of-period (overstatements)/understatements for the fiscal 2016 quarters. (In thousands, except share and per share amounts) Thirteen Weeks Ended March 29, 2016 Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended September 27, 2016 Fourteen Weeks Ended January 3, 2017 Total revenue $ 4 $ (202 ) $ (18 ) $ 151 Total costs, operating expenses and gain (892 ) 490 105 (596 ) Income before income taxes 896 (692 ) (124 ) 747 Total other expense, net — — — — Income before income taxes 896 (692 ) (124 ) 747 Income tax benefit (expense) (45 ) 14 2 (1 ) Net income 851 (678 ) (122 ) 746 (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ 0.06 $ (0.04 ) $ (0.01 ) $ 0.05 Diluted $ 0.06 $ (0.04 ) $ (0.01 ) $ 0.05 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jan. 03, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | 22. SUBSEQUENT EVENTS In the first quarter of fiscal 2017, we recorded severance of $0.6 million for the departures of two senior executives. Additionally in the fourth quarter of fiscal 2017, we recorded severance of $0.3 million for the departure of one senior executive. Refranchising Activities In the second quarter of fiscal 2017, the Company refranchised 13 Company-owned stores and signed a 10-unit development agreement in the Chicago area for approximately $0.2 million. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Jan. 03, 2017 | |
Valuation And Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts | SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS Years Ended January 3, 2017, December 29, 2015 and December 30, 2014 (In thousands) Allowance for Doubtful Accounts Balance at the Beginning of the Period Charged to Expenses Charged (Credited) to Other Accounts Deductions Balance at the End of the Period Year ended January 3, 2017 $ 618 $ 1,560 $ — $ (370 ) $ 1,808 Year ended December 29, 2015 $ 280 $ 741 $ — $ (403 ) $ 618 Year ended December 30, 2014 $ 291 $ 54 $ — $ (65 ) $ 280 |
Business and Summary of Signi30
Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 03, 2017 | |
Accounting Policies [Abstract] | |
Business | Business - Jamba, Inc. consummated its initial public offering in July 2005. On November 29, 2006, Jamba, Inc. consummated the merger with Jamba Juice Company whereby Jamba Juice Company, which first began operations in 1990, became its wholly owned subsidiary. Jamba, Inc. together with its wholly-owned subsidiary, Jamba Juice Company (“the Company”), is a healthful, active lifestyle brand with a robust global business driven by a portfolio of franchised and company-owned Jamba Juice ® TM ® As of January 3, 2017, there were 909 Jamba Juice stores globally, consisting of 66 Company-owned and operated stores (“Company Stores”), 773 franchisee-owned and operated stores (“Franchise Stores”) in the United States, and 70 Franchise Stores in international locations (“International Stores”). |
Basis of Presentation | Basis of Presentation - The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Jamba Juice Company. The accounts of Jamba Juice Southern California, LLC (“JJSC”), a former indirect subsidiary, are included through April 28, 2015, when the Company sold its 88% interest in JJSC to the holder of JJSC’s non-controlling interest. All significant intercompany balances and transactions have been eliminated in consolidation. The equity method of accounting is used to account for Jamba Juice Company’s investments in its joint ventures because the Company exercises significant influence over the operations and financial policies of the joint ventures. Accordingly, the carrying value of the investment is reported in other long-term assets, and the Company’s equity in the net income and losses of its joint ventures is reported in other operating, net. |
Fiscal Year End | Fiscal Year End - The Company’s fiscal year ends on the Tuesday closest to December 31. The Company’s most recently completed fiscal year, referred to as fiscal 2016 which started on December 30, 2015 and ended on January 3, 2017, had 53 weeks. The Company’s fiscal 2015 which started on December 31, 2014, and ended on December 29, 2015, had 52 weeks, and fiscal 2014 which started on January 1, 2014 and ended on December 30, 2014 had 52 weeks. |
Effect of Correction of Prior Period Misstatements | Effect of Correction of Prior Period Misstatements – During fiscal year 2016, the Company corrected certain errors which resulted in additional expense in f iscal 2016 of approximately $0.8 million related to prior period financial statements. These errors related to FY 2015 ($0.6 million) and FY 2014 ($0.6 million), with the remaining offsetting amounts relating to the financial statements from years prior to 2014. These adjustments primarily related to the prior fiscal year 2015 results. The Company determined that the corrections were neither quantitatively nor qualitatively material to fiscal year 2016 or to prior periods either individually or in the aggregate or to the trends of the reported results of operations. The following table details the specific amounts of out-of-period (overstatements)/understatements for the fiscal years 2016, 2015, 2014 and fiscal years prior to 2014. (In thousands, except share and per share amounts) Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Prior to Fiscal Year 2014 Total revenue $ (65 ) $ (3 ) $ 33 $ 35 Total costs, operating expenses and gain (893 ) 624 622 (353 ) Income before income taxes 828 (627 ) (589 ) 388 Total other expense, net — — — — Income before income taxes 828 (627 ) (589 ) 388 Income tax benefit (expense) (30 ) 44 29 (10 ) Net income 798 (583 ) (560 ) 378 (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ 0.05 $ (0.04 ) $ (0.03 ) Diluted $ 0.05 $ (0.04 ) $ (0.03 ) |
Significant Estimates | Significant Estimates - The preparation of the consolidated financial statements and accompanying notes are in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Preparing consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates. |
Reclassifications | Reclassifications - Certain prior year amounts have been reclassified to conform to current year presentation in the consolidated financial statements. |
Concentrations of Risk | Concentrations of Risk - From fiscal 2012 through October 2014, the Company maintained food distribution contracts primarily with one distributor. In October 2014, the Company began working with both Gordon Food Services (“GFS”) in the Eastern United States and Systems Services of America (“SSA”) in the Western United States to distribute food sold in the majority of Company and Franchise Stores. In fiscal 2016 and fiscal 2015, two distributors accounted for approximately 92% and 98%, respectively, of the supplies delivered to Company and Franchise Stores. The Company's limited distributor relationships could have an adverse effect on the Company’s operations. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash and cash equivalents with high-quality financial institutions. Balances in the Company’s cash accounts frequently exceed the Federal Deposit Insurance Corporation insurance limit. The Company has not experienced any losses related to these balances and believes the credit risk to be minimal. |
Cash and Cash Equivalents | Cash and Cash Equivalents - The Company considers all highly liquid instruments with maturities of three months or less when purchased to be cash equivalents. The existing letters of credit balance of $ 0.4 million is collateralized by restricted cash. |
Receivables | Receivables - Receivables primarily represent amounts due from royalty fees, advertising fees, construction allowances, amounts receivable from suppliers, distributors and CPG customers, sale of jambacards by other issuers and franchisees and rent receivable from franchisees. The allowance for doubtful accounts is the Company’s estimate of the amount of probable credit losses in the Company’s existing accounts receivable. |
Inventories | Inventories - Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out method (“FIFO”). Inventories consist of food, beverages and available-for-sale promotional products. The Company reduces inventory for obsolete and slow-moving inventory and for estimated shrinkage between physical inventory counts. |
Property, Fixtures and Equipment | Property, Fixtures and Equipment - Property, fixtures and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the underlying lease. The estimated useful life for furniture, fixtures and equipment is three to 10 years. Capitalized software is recorded at cost and includes purchased, internally-developed and externally-developed software used in the Company’s operations. Amortization expense is provided using the straight-line method over the estimated useful lives of the software, which range from one to three years. In fiscal year 2016, the Company received approximately $1.1 million in tenant allowances, primarily related to the headquarters relocation to Frisco, TX. Upon sale, the cost of assets disposed and their related accumulation depreciation are removed from the consolidated balance sheets. The Company calculates the gain or loss by comparing the carrying value of the assets to the selling price. |
Intangible Assets Subject to Amortization | Intangible Assets Subject to Amortization – Intangible assets subject to amortization (primarily franchise and reacquired franchise rights, favorable lease intangible assets and acquired customer relationships) are amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. The useful life for the franchise agreements is approximately 13.4 years. The useful life of reacquired franchise rights represents the remaining term of the franchise agreement. The useful life of the favorable lease portfolio intangible is based on the related lease term. |
Business Combinations | Business Combinations - The Company accounts for business combinations using the acquisition method. Under the acquisition method, the purchase price of the acquisition is allocated to the underlying tangible and intangible assets acquired based on their respective fair values. Fair values are derived from various observable and unobservable inputs and assumptions. The Company utilizes third-party valuation specialists to assist in the allocation. Initial purchase price allocations are preliminary and are subject to revision within the measurement period, not to exceed one year from the date of acquisition. The costs of the business acquisitions are expensed as incurred. These costs may include fees for accounting, legal, professional consulting and valuation specialists. |
Assets Held for Sale | Assets Held for Sale - The Company classifies assets as held for sale and suspends depreciation and amortization when approval at the appropriate level has been provided, the assets can be immediately removed from operations, an active program has begun to locate a buyer, the assets are being actively marketed for sale at or near their current fair value, significant changes to the plan of sale are not likely and the sale is probable within one year. Upon classification as held for sale, long-lived assets are no longer depreciated, and an assessment of impairment is performed to identify and expense any excess of carrying value over fair value less costs to sell. Subsequent changes to the estimated fair value less costs to sell will impact the measurement of assets held for sale. To the extent fair value increases, any impairment previously recorded is reversed. If the carrying value of the assets held for sale exceeds the fair value less costs to sell, the Company will record a loss for the amount of the excess. The Company also reclassifies the associated prior year balances for assets reclassified to assets held for sale. If the Company decides not to sell previously classified assets held for sale, the asset is reclassified back to their original asset group. The assets are recorded at the lower of the carrying value before being classified as held for sale adjusted for depreciation that would have been recognized during the time they were classified as held for sale or fair value at the date the Company decided not to sell. Assets held for sale as of January 3, 2017 was $0.2 million and related to JambaGO ® |
Impairment of Long-lived assets | Impairment of Long-lived assets - Long-lived assets, such as property and equipment and intangible assets subject to amortization, are tested for impairment at least annually or when facts and circumstances indicate that the carrying values of long-lived assets may not be recoverable. Long-lived assets are grouped for recognition and measurement of impairment at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets, generally the store asset group level. The Company first compares the carrying value of the asset to the asset’s estimated future undiscounted cash flows. If the estimated future cash flows are less than the carrying value of the asset, the Company measures an impairment loss based on the asset’s estimated fair value. The fair value of a store’s assets is estimated using a discounted cash flow model based on internal projections and taking into consideration the view of a market participant. The estimate of cash flows is based on, among other things, certain assumptions about expected future operating performance. Factors considered during the impairment evaluation include factors related to actual operating cash flows, the period of time since a store has been opened or remodeled, refranchising expectations and the maturity of the relevant market. The Company recorded impairment charges of $3.4 million, $2.5 million, and $0.2 million for fiscal years 2016, 2015 and 2014, respectively. |
Impairment of Goodwill, Trademarks and Other Intangible Asset Not Subject to Amortization | Impairment of Goodwill, Trademarks and Other Intangible Asset Not Subject to Amortization - Goodwill is evaluated for impairment on an annual basis during the Company’s fourth fiscal quarter, or more frequently if circumstances, such as material deterioration in performance, indicate carrying values may exceed their fair values. When reviewing goodwill for impairment, the Company assesses whether goodwill should be allocated to operating levels lower than its single operating segment for which discrete financial information is available and reviewed for decision-making purposes. These lower levels are referred to as reporting units. Currently, the Company’s one operating segment was determined to be one reporting unit. Our annual impairment test of goodwill may be completed through a qualitative assessment. We may elect to bypass the qualitative assessment and proceed directly to a two-step quantitative impairment test, in any period. We can resume the qualitative assessment for any subsequent period. If we elect to bypass the qualitative assessment for any reporting unit, or if a qualitative assessment indicates it is more-likely-than-not that the estimated carrying value of a reporting unit exceeds its fair value, we perform a two-step quantitative goodwill impairment test. First, the reporting unit’s estimated fair value is compared to its carrying value, including goodwill. If the Company determines that the estimated fair value of the reporting unit is less than its carrying value, it moves to the second step to determine the implied fair value of the reporting unit’s goodwill. If the carrying amount of the reporting unit’s goodwill exceeds its implied fair value, an impairment loss is recognized. No goodwill impairment was recorded for fiscal years 2016, 2015 and 2014. Intangible assets not subject to amortization (primarily trademarks) are evaluated for impairment on an annual basis during the fourth fiscal quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company qualitatively assesses the impairment for other intangible assets not subject to amortization to determine whether it is more likely than not that the fair value of intangible assets are less than their carrying amount. For other intangible assets not subject to amortization not assessed qualitatively, a quantitative approach is utilized. The Company compares the carrying value of the applicable asset to its fair value, which the Company estimates using a discounted cash flow analysis or by comparing with the market values of similar assets. If the carrying amount of the asset exceeds its estimated fair value, the Company determines the impairment loss, if any, as the excess of the carrying value of the intangible asset over its fair value. An impairment loss is generally recognized when the carrying amount of the trademarks exceeds the fair value. For fiscal 2016, 2015 and 2014, the company had no impairments related to other intangible assets not subject to amortization. |
Jambacards | jambacards ® - The Company, through its subsidiary, Jamba Juice Company, sells gift cards called jambacards to its customers in its retail stores, through its website and through resellers. The Company’s jambacards do not have an expiration date. An obligation is recorded at the time of either an initial load or a subsequent reload in accrued jambacard liability on the Company’s consolidated balance sheets. The Company recognizes income from jambacards when (i) the jambacard is redeemed by the customer or (ii) the likelihood of the jambacard being redeemed by the customer is remote (also referred to as “breakage”) and the Company determines that it does not have a legal obligation to remit the unredeemed jambacards to the relevant jurisdictions. The Company determines the jambacard breakage amount based upon its historical redemption patterns. Jambacard breakage income is included in other operating, net in the Consolidated Statements of Operations. |
Self-Insurance Reserves | Self-Insurance Reserves -The Company is self-insured for healthcare benefits. The estimated accruals for these liabilities are based on statistical analyses of historical industry data as well as actual historical trends. For its workers’ compensation benefits, the Company has a guaranteed cost policy which renewed on October 1, 2016. Prior to September 30, 2015, the Company had a retrospective policy and was self-insured for existing and prior years exposures through September 30, 2012. For these two policies, liabilities associated with the risks that the Company retains for workers’ compensation benefits are estimated in part, by considering historical claims experience, demographic factors, severity factors and other actuarial assumptions. The Company’s estimates use this actuarial data in conjunction with known industry trends and Company experience. |
Rent Expense | Rent Expense - Under the provisions of certain of the Company’s leases, there are rent holidays and/or escalations in payments over the base lease term, as well as renewal periods. The effects of rent holidays and escalations are reflected in rent costs on a straight-line basis over the expected lease term, which includes cancelable option periods when it is deemed to be reasonably assured that the Company will exercise such option periods due to the fact that the Company would incur an economic penalty for not doing so. The lease term commences on the date when the Company becomes legally obligated for the rent payments which generally coincides with the time when the landlord delivers the property for the Company to develop. All rent costs recognized during construction periods are classified as pre-opening expenses. The Company has assigned certain of its store leases to franchisees as part of refranchising transactions, and in some cases for amounts less than the Company’s rent obligation. Liabilities for those rent concessions are recorded and relieved against rent expense over the remaining term of the related lease. |
Construction Allowances | Construction Allowances - The Company receives construction allowances from certain landlords, which are deferred and amortized on a straight-line basis over the lease term as a reduction of rent expense. In fiscal year 2016, the Company received approximately $1.1 million in allowances, primarily related to the headquarters relocation to Frisco, TX. Construction allowances are recorded in deferred rent and other long-term liabilities. |
Revenue Recognition | Revenue Recognition - Revenue from Company Stores is recognized when product is sold. Revenue is presented net of any taxes collected from customers and remitted to government entities. In fiscal 2014, the Company initiated a loyalty program for its customers, which allows them to earn points based on the volume of their purchases. Under the loyalty program, a customer receives a discount on future purchases when a defined number of points have been earned. The estimated amount of points redeemable in exchange for discounts is recorded in deferred revenue and recognized when the customers redeem the points they earned. The deferred revenue for unredeemed points under the loyalty program was $ 0.2 million at January 3, 2017 and December 29, 2015. Revenue from jambacards is recognized upon redemption in exchange for product. Until redemption, outstanding customer balances are recorded as a liability. See “jambacards” section above for discussion on recognition of jambacard breakage. The Company generally executes franchise agreements for each store that establishes the terms of its arrangement with the franchisee. The franchise agreements typically require the franchisee to pay an initial, non-refundable fee and continuing fees based upon a percentage of sales. Subject to the Company’s approval and the franchisee’s payment of a renewal fee, a franchisee may generally renew the franchise agreement upon its expiration. Franchise revenue is generated from royalties, development fees, initial franchise fees and revenue from sales at franchise-operated Jamba Juice Express and JambaGO ® Development fees are paid to the Company as part of an agreement to open and operate a specific number of stores in a specified territory. The amount of the fee is based on the number of stores to be opened pursuant to the development agreement. The nonrefundable fees collected for these services are recognized as the franchise stores under these agreements open. The Company’s multi-unit development agreements specify the number of stores to be opened. The Company charges an initial franchise fee for providing operational materials, new store opening, planning and functional training courses. Initial franchise fees, if any, are due for payment at the time the franchise agreement for a particular store is executed. Franchise fees are recognized as revenue when all material services or conditions have been substantially performed or satisfied and no other material conditions or obligations related to the determination of substantial performance exist. Duties and services that are completed prior to approval include training, facilities inspection, receipt of operating license(s) and clearance from appropriate agencies. These duties and services are substantially complete prior to the approval of the opening of a store. Revenue is recognized when the store opens. Revenue from sales at the Company’s flexible format franchise locations are recognized when the products are delivered to the operators of the Jamba Juice Express. Other revenue primarily consists of revenue from sales of CPG products sold to retail outlets and online and royalties from licensed CPG products. Revenue from sale of CPG products is recognized when the products are delivered to the customer. License revenue from CPG products is based on a percentage of product sales and is recognized as revenue upon the sale of the product to retail outlets. |
Cost of Sales | Cost of Sales - The Company includes in cost of sales, costs incurred to acquire fruit, dairy and other products used to make smoothies and juices, other food offerings and paper products sold by the Company Stores. |
Store Lease Termination and Closure Costs | Store Lease Termination and Closure Costs - Costs incurred when closing a store are generally expensed as incurred. At the date the Company ceases use of a store under an operating lease, a liability is recorded for the net present value of any remaining lease obligations, net of estimated sublease income, if any. In instances where a buyout is reasonably expected within six months of store closure, liabilities are recorded by estimating the expected buyout fee and the rent expected to be incurred until a buyout agreement is reached. Any costs recorded upon store closure, as well as any subsequent adjustments to liabilities for remaining lease obligations, as a result of lease termination or changes in estimates of sublease income are recorded in other operating, net in the Consolidated Statements of Operations. Considerable management judgment is necessary to estimate future cash flows, including cash flows from continuing use, terminal value and sublease income. Accordingly, actual results could vary from the Company’s estimates. |
Advertising Fund | Advertising Fund - The Company participates with its franchisees in an advertising fund to collect and administer funds contributed for use in advertising and promotional programs, which are designed to increase sales and enhance the reputation of the Company and its franchise owners. Contributions to the advertising fund are required for Company Stores and traditional Franchise Stores and are generally based on a percent of store sales. The Company has control of the advertising fund. The fund is consolidated and all assets and liabilities of the fund are reported. The advertising fund assets, consisting primarily of cash received from the Company and franchisees and accounts receivable from franchisees, can only be used for selected purposes and are considered restricted. The cash contributed by franchisees is recorded as a liability against which specified advertising costs are charged. The Company does not reflect franchisee contributions to the fund as revenue in its consolidated statements of operations or consolidated statements of cash flows. Advertising fund assets as of January 3, 2017 and December 29, 2015 include $1.5 million and $2.4 million of receivables from franchisees, net of allowances, respectively, which is recorded in receivables in the consolidated balance sheets. Advertising fund liabilities as of January 3, 2017 and December 29, 2015, of $1.4 million and $1.2 million, respectively, are reported in other current liabilities and accounts payable in the Company’s consolidated balance sheets. |
Advertising Costs | Advertising Costs - Advertising costs are expensed as incurred and were $ 2.3 million, $8.5 million and $10.0 million in fiscal years 2016, 2015 and 2014, respectively, and are included in store operating expenses. Advertising contributions received from franchisees, totaled $10.6 million, $7.5 million and $5.8 million for fiscal years 2016, 2015 and 2014, respectively, and were recorded as an offset to advertising expense. |
Store Pre-opening Costs | Store Pre-Opening Costs - Costs incurred in connection with start-up and promotion of new store openings as well as rent from possession date to store opening date are expensed as incurred. |
Comprehensive Income | Comprehensive Income - Comprehensive income is defined as the change in equity during a period from transactions and other events, excluding changes resulting from investments from owners and distributions to owners. The Company currently has no components of comprehensive income other than net income, therefore no separate statement of comprehensive income is presented. |
Income Taxes | Income Taxes - Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities due to a change in tax rates is recognized in income in the period that includes the enactment date. In establishing deferred income tax assets and liabilities, judgments and interpretations are made based on enacted tax laws and published tax guidance applicable to the Company’s operations. The Company records deferred tax assets and liabilities and evaluates the need for valuation allowances to reduce deferred tax assets to amounts more likely than not of being realized. Changes in the valuation of the deferred tax assets or changes in the income tax provision may affect the Company’s annual effective income tax rate. Uncertain tax positions are recognized as the greatest amount more than 50% likely of being sustained upon audit based on the technical merits of the position. On a quarterly basis, the Company reviews and updates its inventory of tax positions as necessary to add any new uncertain tax positions taken, or to remove previously identified uncertain positions that have been effectively settled. Additionally, uncertain positions may be re-measured as warranted by changes in facts or law. Accounting for uncertain tax positions requires significant judgments, including estimating the amount, timing and likelihood of ultimate settlement. Although the Company believes that these estimates are reasonable, actual results could differ from these estimates. The Company classifies interest and penalties related to income taxes as a component of income taxes in the consolidated statements of operations. A liability related to an unrecognized tax benefit is offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations in which a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date under the tax law of a jurisdiction or the tax law of a jurisdiction does not require it, and the Company does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit is presented in the financial statement as a liability and is not combined with deferred tax assets. |
Earnings (Loss) Per Share | Earnings (Loss) Per Share - Basic earnings (loss) per share is computed based on the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed based on the weighted-average number of common shares and potentially dilutive securities, which includes outstanding options and restricted stock awards granted under the Company’s stock option plans. For fiscal years 2016 and 2014, the Company’s basic weighted average shares outstanding were equal to its diluted weighted average shares outstanding, since the Company experienced net losses. During fiscal years 2015 and 2014, the Company repurchased 1,948,004 and 910,813 shares of common stock, respectively, which reduced the basic weighted average shares outstanding. The Company did not repurchase shares of common stock in fiscal year 2016. Anti-dilutive common stock equivalents of 1.9 million, 1.9 million and 1.5 million have been excluded from diluted weighted-average shares outstanding in fiscal years 2016, 2015 and 2014, respectively. |
Share-based compensation | Share-based compensation - The Company’s share-based compensation relates to stock options and restricted stock units and is accounted for at fair value. Stock options for a fixed number of shares are granted to certain employees and directors with an exercise price based on the grant date fair value of the Company’s common stock. Compensation expense is recognized for any unvested stock option awards and time-based restricted stock awards on a straight-line basis or ratably over the requisite service period, generally three or four years. For all award types, the Company makes assumptions for the number of awards that will ultimately not vest (“forfeitures”) in determining the share-based compensation expense for these awards. The Company uses historical data to estimate expected employee behaviors related to option exercises and forfeitures. Compensation expense is trued up for actual forfeitures if different than the estimate. The fair value of options granted was estimated at the date of grant using a Black-Scholes option-pricing model. Option valuation models, including Black-Scholes, require the input of subjective assumptions, which can materially affect the grant date fair value of a stock option award. The assumptions used include the risk-free interest rate, the expected term of the award, expected volatility and expected dividend yield. The risk-free interest rate is based on the zero coupon U.S. Treasury rates appropriate for the expected term of the award. For the expected term of the award, the Company utilized the median of the Company’s peer group’s expected term, after adjusting for vesting and term differences. Expected volatility is based on an average of the Company’s recent historic daily stock price observations of the Company’s common stock during the period immediately preceding the share-based award grant that is equal in length to the award’s expected term and the Company’s implied volatility based on the mean of 180-day call and put options as per the open market. Expected dividends are zero based on the history of not paying cash dividends on the Company’s common stock and its intention not to make dividend payments in the future. The Company grants time-based restricted stock units with a fair value determined based on the closing price of the Company’s common stock on the date of grant. For employees, these restricted stock units typically vest and become unrestricted over the three-year period following the date of grant. For non-employee directors, these restricted stock units typically vest and become unrestricted one year after the date of grant. The Company grants performance-based restricted stock units (“PSUs”), which typically vest upon the Company satisfying certain The fair value of the PSUs is determined based on fair value at the date of grant. In addition, the Company grants market-based restricted stock units to certain employees. The fair value was determined using a Monte Carlo simulation that incorporated option-pricing inputs covering the period from the grant date through the end of the performance period as of the date of grant. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments - The following instruments are not measured at fair value on the Company’s consolidated balance sheets but require disclosure of their fair values: cash and cash equivalents, accounts receivables, notes receivable and accounts payable. The estimated fair value of such instruments, excluding notes receivable, approximates their carrying value as reported in the Company’s consolidated balance sheets due to their short-term nature. The estimated fair value of notes receivable approximates its carrying value due to the interest rates aligning with market rates. The fair value of such financial instruments is determined using the income approach based on the present value of estimated future cash flows. The fair value of these instruments would be categorized as Level 2 in the fair value hierarchy, with the exception of cash and cash equivalents, which would be categorized as Level 1. |
Segment Reporting | Segment Reporting - The Company has one reportable retail segment. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The Company has not yet adopted and is currently assessing the potential impact of the following pronouncements on its Consolidated Financial Statements and related disclosure: In May 2014, the FASB issued amended guidance on revenue from contracts with customers which amended the existing accounting standards for revenue recognition. ASU 2014-09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-04 , Recognition of Breakage for Certain Prepaid Stored-Value Products Liabilities-Extinguishments of Liabilities In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting The Company has not yet adopted and does not expect the adoption of the following pronouncements to have a significant impact on its Consolidated Financial Statements and related disclosure: In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows—Classification of Certain Cash Receipts and Cash Payments, In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, In January 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. |
Business and Summary of Signi31
Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Accounting Policies [Abstract] | |
Specific Amounts of Out-of-Period (Overstatements)/Understatements | The following table details the specific amounts of out-of-period (overstatements)/understatements for the fiscal years 2016, 2015, 2014 and fiscal years prior to 2014. (In thousands, except share and per share amounts) Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Prior to Fiscal Year 2014 Total revenue $ (65 ) $ (3 ) $ 33 $ 35 Total costs, operating expenses and gain (893 ) 624 622 (353 ) Income before income taxes 828 (627 ) (589 ) 388 Total other expense, net — — — — Income before income taxes 828 (627 ) (589 ) 388 Income tax benefit (expense) (30 ) 44 29 (10 ) Net income 798 (583 ) (560 ) 378 (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ 0.05 $ (0.04 ) $ (0.03 ) Diluted $ 0.05 $ (0.04 ) $ (0.03 ) |
Property, Fixtures, and Equip32
Property, Fixtures, and Equipment (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Property Fixtures And Equipment [Abstract] | |
Schedule of Property, Fixtures, and Equipment | Property, fixtures and equipment consisted of the following as of (in thousands): January 3, 2017 December 29, 2015 Leasehold improvements $ 20,734 $ 19,586 Furniture, fixtures and equipment 30,349 28,470 Construction in progress (primarily stores under construction) 74 3,773 Total 51,157 51,829 Less accumulated depreciation and amortization (38,645 ) (36,229 ) Total $ 12,512 $ 15,600 |
Goodwill, Trademarks and Othe33
Goodwill, Trademarks and Other Intangible Assets (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Goodwill | A summary of the changes in goodwill for fiscal 2016 and 2015 follows (in thousands): Amount Balance as of December 30, 2014 $ 945 Additions 232 Reclassification out of assets held for sale 7 Balance as of December 29, 2015 1,184 Refranchise (1 ) Balance as of January 3, 2017 $ 1,183 |
Schedule of Carrying Amount and Accumulated Amortization of Trademarks and Other Intangible Assets | The carrying amount and accumulated amortization of trademarks and other intangible assets as of January 3, 2017 and December 29, 2015 were as follows (in thousands): Gross Amount Accumulated Amortization Net Amount Intangible Assets As of January 3, 2017 Favorable leases 1,850 (1,850 ) — Trademarks 807 — 807 Franchise agreements and customer lists 677 (511 ) 166 Reacquired franchise rights 599 (245 ) 354 Total $ 3,933 $ (2,606 ) $ 1,327 Gross Amount Accumulated Amortization Net Amount As of December 29, 2015 Favorable leases 1,850 (1,850 ) — Trademarks 807 — 807 Franchise agreements and customer lists 735 (496 ) 239 Reacquired franchise rights 599 (181 ) 418 Total $ 3,991 $ (2,527 ) $ 1,464 |
Schedule of Expected Annual Amortization Expense for Remaining Intangible Assets | Expected annual amortization expense for the remaining intangible assets recorded as of January 3, 2017 is as follows (in thousands): Fiscal Year Amortization Expense 2017 $ 114 2018 112 2019 97 2020 62 2021 47 Thereafter 88 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Business Combination And Assets Held For Sale [Abstract] | |
Summary of the Purchase Price, the Fair Value of the Net Assets Acquired and the Goodwill on the Purchase | A summary of the purchase price, the fair value of the net assets acquired and the goodwill on the purchase follows (in thousands): Cash paid to acquire stores $ 737 Additional consideration resulting from termination of pre-existing relationships 85 Total purchase consideration $ 822 Net assets acquired: Current assets $ 12 Fixed assets 259 Re-acquired franchise rights 424 Unfavorable Lease (105 ) Net assets acquired $ 590 Goodwill $ 232 A summary of the purchase price, the fair value of the net assets acquired and the gain on the purchase follows (in thousands): Cash paid to acquire stores $ 725 Additional consideration resulting from termination of pre-existing relationships 369 Total purchase consideration $ 1,094 Net assets acquired: Current assets $ 145 Fixed assets 365 Re-acquired franchise rights 476 Other assets and liabilities 343 Net assets acquired $ 1,329 Bargain purchase gain $ 235 |
Notes Receivable and Other Lo35
Notes Receivable and Other Long-term Assets (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | As of January 3, 2017 and December 29, 2015, other long-term assets consisted of the following (in thousands): January 3, 2017 December 29, 2015 Notes receivable $ 1,879 $ 3,107 Deposits and other 889 582 Investment in unconsolidated subsidiaries 126 522 Total $ 2,894 $ 4,211 |
Development Agreements (Tables)
Development Agreements (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Development Agreement [Abstract] | |
Number of Franchise and International Stores | The following table summarizes data about the development agreements for Franchise and International Stores as of: January 3, 2017 December 29, 2015 Number of developers with Franchise Store contractual commitments 27 32 Number of Franchise Stores for which commitments exist 122 163 Number of developers with International Stores contractual commitments 6 7 Number of International Stores for which commitments exist 307 485 |
Deferred Rent and Other Long-37
Deferred Rent and Other Long-Term Liabilities (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Schedule of Other Long-term Liabilities | Other long-term liabilities consisted of the following (in thousands): January 3, 2017 December 29, 2015 Deferred rent $ 2,260 $ 2,961 Deferred revenue 2,950 3,720 Construction allowance 1,423 735 Other liabilities 2,307 1,574 Total deferred rent and other long-term liabilities $ 8,940 $ 8,990 |
Lease Commitments (Tables)
Lease Commitments (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Leases [Abstract] | |
Schedule of Future Minimum Noncancelable Lease Payments and Minimum Rentals to Be Received from Sublessees | The aggregate future minimum noncancelable lease payments and minimum rentals to be received from sublessees as of January 3, 2017, were as follows (in thousands): Fiscal Year Ending: Minimum lease payments Minimum rentals to be received 2017 $ 26,354 $ 20,117 2018 22,539 16,734 2019 18,569 13,505 2020 14,585 10,236 2021 10,769 7,446 Thereafter 22,500 12,583 Total $ 115,316 $ 80,621 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Schedule of Fair Value of Stock Options Estimated at Date of Grant Using Black-Scholes Option Pricing Model with Weighted-Average Assumptions | The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions. Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Weighted-average risk-free interest rate 1.36 % 1.75 % 0.12 % Expected life of options (years) 5.22 5.85 0.80 Expected stock volatility 40.5 % 43.7 % 60.8 % Expected dividend yield 0 % 0 % 0 % |
Summary of Stock Option Activities | A summary of the stock option activities for fiscal year 2016 is presented below (shares and dollars in thousands): Number of Options Weighted- Average Exercise Price Weighted- Average Contractual Term Remaining Aggregate Intrinsic Value Outstanding at December 29, 2015 1,530 $ 12.42 5.76 $ 3,960 Granted 315 13.11 Exercised (197 ) 5.50 Canceled (448 ) 16.00 Outstanding at January 3, 2017 1,200 $ 12.40 5.05 $ 1,213 Options vested or expected to vest at January 3, 2017 1,112 $ 12.32 4.86 $ 1,213 Options exercisable at January 3, 2017 485 $ 10.74 1.65 $ 1,211 |
Summary of Options Outstanding and Exercisable | The intrinsic value of stock options is defined as the difference between the current market value and the exercise price, which is equal to the market value at the time of the grant. Information regarding options outstanding and exercisable at January 3, 2017 is as follows (shares in thousands): Range of Exercise Prices Number Outstanding Weighted- Average Remaining Contractual Life (Years) Weighted- Average Exercise Price Number Exercisable Weighted- Average Exercise Price $3.00 - $3.00 141 1.05 $ 3.00 141 $ 3.00 $5.40 - $10.87 130 4.14 9.02 89 8.33 $10.93 - $11.65 139 6.43 11.41 58 11.13 $11.98 - $11.98 10 4.37 11.98 10 11.98 $12.35 - $12.35 153 9.05 12.35 3 12.35 $13.30 - $13.71 44 7.69 13.49 15 13.44 $13.94 - $13.94 503 4.46 13.94 139 13.94 $19.50 - $45.55 68 6.87 21.89 18 28.38 $47.55 - $47.55 6 0.44 47.55 6 47.55 $50.25 - $50.25 6 0.42 50.25 6 50.25 1,200 5.05 $ 12.40 485 10.74 |
Summary of Outstanding Time-Based Restricted Stock Units | Information regarding activities during fiscal 2016 for outstanding time-based RSUs is as follows (shares in thousands): Number of shares of RSUs Weighted- Average Grant Date Fair Value (per share) Outstanding as of December 29, 2015 190 14.09 Granted 44 11.31 Forfeited (39 ) 13.95 Vested (127 ) 13.70 Outstanding as of January 3, 2017 68 $ 13.11 |
Summary of Outstanding Performance Stock Units | Information regarding activities during fiscal 2016 for outstanding PSUs is as follows (shares in thousands): Number of shares of PSUs Weighted- Average Grant Date Fair Value (per share) Outstanding as of December 29, 2015 57 13.89 Granted 8 10.11 Forfeited (46 ) 13.85 Vested (2 ) 14.04 Outstanding as of January 3, 2017 17 $ 12.27 |
Summary of Outstanding Market-Based Restricted Stock Units | Information regarding activities during fiscal 2016 for outstanding market-based RSUs is as follows (shares in thousands): Number of market-based RSUs Weighted- Average Grant Date Fair Value (per share) Outstanding as of December 29, 2015 — — Granted 505 3.04 Forfeited — — Vested — — Outstanding as of January 3, 2017 505 $ 3.04 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax (Expense) Benefit | The components of the income tax (expense) benefit are as follows (in thousands): January 3, 2017 December 29, 2015 December 30, 2014 Current: Federal $ — $ (438 ) $ — State (14 ) (149 ) (37 ) Foreign (65 ) (114 ) (131 ) $ (79 ) $ (701 ) $ (168 ) Deferred: Federal $ — $ — $ — State — — — Foreign — — — $ — $ — $ — Income tax benefit (expense) $ (79 ) $ (701 ) $ (168 ) |
Summary of Difference Between Effective Income Tax Rate and The United States Federal Income Tax Rate | The difference between the effective income tax rate and the United States federal income tax rate is summarized as follows: January 3, 2017 December 29, 2015 December 30, 2014 Statutory federal rate 34.0 % 34.0 % 34.0 % State income taxes less federal benefit (1.4 ) (9.2 ) 5.9 Foreign income taxes (0.3 ) 1.1 (2.5 ) Change in valuation allowance (24.6 ) (38.1 ) (31.5 ) Meals (0.1 ) 0.3 (1.2 ) Business Gain on Acquisition — — 8.5 Alternative minimum taxes — 0.1 (1.0 ) Expired tax attribute carryforwards (6.4 ) 11.1 (17.0 ) Tax credits generated — (0.1 ) 0.3 Other (1.6 ) 7.7 (0.3 ) (0.4 )% 6.9 % (4.8 )% |
Schedule of Deferred Tax Assets (Liabilities) of Temporary Differences | The deferred tax assets (liabilities) consisted of the following temporary differences as of January 3, 2017 and December 29, 2015 (in thousands): January 3, 2017 December 29, 2015 Net operating losses $ 62,875 $ 50,837 Reserves and accruals 5,073 10,754 Deferred rent 967 1,518 Tax credit attributes 1,957 1,999 Basis difference in intangibles 1,152 1,510 Share-based compensation 1,915 2,979 Basis difference in fixed assets 5,670 3,245 Basis difference in intangibles (95 ) (289 ) Basis difference in investments 144 4 Reserves and accruals (29 ) (64 ) Total gross deferred tax asset 79,629 72,493 Valuation allowance (79,629 ) (72,493 ) Total net deferred tax asset $ — $ — |
Schedule of Changes in Unrecognized Tax Benefits | Changes in the Company’s unrecognized tax benefits are as follows (in thousands): Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Beginning balance $ 185 $ 185 Increases attributable to tax positions taken during prior periods — — Decreases resulting from lapse of applicable statutes of limitations — — Ending balance $ 185 $ 185 |
Other Operating, Net (Tables)
Other Operating, Net (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Other Operating Net [Abstract] | |
Schedule of Components of Other Operating, Net | The components of other operating, net are as follows (in thousands): Fiscal Year Ended January 3, 2017 Fiscal Year Ended December 29, 2015 Fiscal Year Ended December 30, 2014 Jambacard breakage income $ (4,096 ) $ (5,440 ) $ (4,744 ) Jambacard expense 902 1,155 1,299 CPG and JambaGO ® 1,700 3,035 2,637 Franchise discount expense 461 706 847 Franchise other expense 676 834 1,025 Sublease income (670 ) (192 ) (121 ) Bad debt 1,560 1,474 61 International expense 613 708 316 Gain on contingent consideration - (156 ) (397 ) Other (income) expense (63 ) (329 ) (197 ) Total other operating, net $ 1,083 $ 1,795 $ 726 |
Unaudited Quarterly Informati42
Unaudited Quarterly Information (Tables) | 12 Months Ended |
Jan. 03, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Unaudited Consolidated Results of Operations | The tables below provide the Company’s unaudited consolidated results of operations for each quarter in 2016 and 2015: (In thousands, except share and per share amounts) Thirteen Weeks Ended March 29, 2016 Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended September 27, 2016 Fourteen Weeks Ended January 3, 2017 Revenue: Company stores $ 11,953 $ 13,874 $ 14,350 $ 11,105 Franchise and other revenue 6,801 7,666 7,711 6,163 Total revenue 18,754 21,540 22,061 17,268 Costs and operating expenses (income): Cost of sales 2,962 3,321 3,437 2,881 Labor 4,158 4,668 4,644 4,402 Occupancy 2,036 1,900 1,879 1,844 Store operating 2,362 2,272 2,381 2,270 Depreciation and amortization 1,502 1,674 1,068 1,505 General and administrative 7,610 9,423 9,699 11,226 Gain on disposal of assets 109 188 204 289 Store pre-opening 324 326 210 364 Impairment of long-lived assets — 127 229 3,054 Store lease termination and closure 120 (56 ) 178 3,918 Other operating, net 271 245 104 463 Total costs, operating expenses, and gain 21,454 24,088 24,033 32,216 Loss from operations (2,700 ) (2,548 ) (1,972 ) (14,948 ) Other income (expense): Interest income 71 74 50 55 Interest expense (59 ) (59 ) (51 ) (270 ) Total other income (expense), net 12 15 (1 ) (215 ) Loss before income taxes (2,688 ) (2,533 ) (1,973 ) (15,163 ) Income tax (expense) benefit (132 ) 54 9 (10 ) Net loss (2,820 ) (2,479 ) (1,964 ) (15,173 ) Less: Net income attributable to noncontrolling interest — — — — Net loss attributable to Jamba, Inc. $ (2,820 ) $ (2,479 ) $ (1,964 ) $ (15,173 ) Loss per share attributable to Jamba, Inc. common shareholders: Basic $ (0.19 ) $ (0.16 ) $ (0.13 ) $ (0.99 ) Diluted $ (0.19 ) $ (0.16 ) $ (0.13 ) $ (0.99 ) (In thousands, except share and per share amounts) Thirteen Weeks Ended March 31, 2015 Thirteen Weeks Ended June 30, 2015 Thirteen Weeks Ended September 29, 2015 Thirteen Weeks Ended December 29, 2015 Revenue: Company stores $ 47,728 $ 48,360 $ 28,213 $ 12,724 Franchise and other revenue 4,776 5,766 7,284 6,825 Total revenue 52,504 54,126 35,497 19,549 Costs and operating expenses (income): Cost of sales 12,407 11,474 6,626 3,230 Labor 16,088 14,876 8,843 4,925 Occupancy 6,835 6,131 3,980 2,005 Store operating 8,034 8,059 5,901 3,158 Depreciation and amortization 1,873 1,344 1,143 2,209 General and administrative 8,963 8,427 9,003 10,479 Gain on disposal of assets (778 ) (4,480 ) (16,076 ) (275 ) Store pre-opening 22 166 287 556 Impairment of long-lived assets 0 295 1,907 321 Store lease termination and closure 22 40 207 1,400 Other operating, net 706 1,333 375 (619 ) Total costs, operating expenses, and gain 54,172 47,665 22,196 27,389 (Loss) income from operations (1,668 ) 6,461 13,301 (7,840 ) Other income (expense): Interest income 15 14 49 59 Interest expense (41 ) (68 ) (53 ) (58 ) Total other expense, net (26 ) (54 ) (4 ) 1 (Loss) income before income taxes (1,694 ) 6,407 13,297 (7,839 ) Income tax benefit (expense) (26 ) (57 ) (194 ) (424 ) Net (loss) income (1,720 ) 6,350 13,103 (8,263 ) Less: Net income attributable to noncontrolling interest 31 21 — — Net (loss) income attributable to Jamba, Inc. $ (1,751 ) $ 6,329 $ 13,103 $ (8,263 ) (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ (0.11 ) $ 0.39 $ 0.83 $ (0.55 ) Diluted $ (0.11 ) $ 0.38 $ 0.81 $ (0.55 ) |
Schedule of Details Specific Amounts of Out-of-period (Overstatements)/Understatements | The following table details the specific amounts of out-of-period (overstatements)/understatements for the fiscal 2016 quarters. (In thousands, except share and per share amounts) Thirteen Weeks Ended March 29, 2016 Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended September 27, 2016 Fourteen Weeks Ended January 3, 2017 Total revenue $ 4 $ (202 ) $ (18 ) $ 151 Total costs, operating expenses and gain (892 ) 490 105 (596 ) Income before income taxes 896 (692 ) (124 ) 747 Total other expense, net — — — — Income before income taxes 896 (692 ) (124 ) 747 Income tax benefit (expense) (45 ) 14 2 (1 ) Net income 851 (678 ) (122 ) 746 (Loss) earnings per share attributable to Jamba, Inc. common shareholders: Basic $ 0.06 $ (0.04 ) $ (0.01 ) $ 0.05 Diluted $ 0.06 $ (0.04 ) $ (0.01 ) $ 0.05 |
Business and Summary of Signi43
Business and Summary of Significant Accounting Policies - Additional Information (Details) | 12 Months Ended | ||||
Jan. 03, 2017USD ($)LocationSegmentStoreshares | Dec. 29, 2015USD ($)Storeshares | Dec. 30, 2014USD ($)shares | Mar. 07, 2017USD ($) | Apr. 28, 2015 | |
Number of stores | Store | 66 | 70 | |||
Expense related to error correction | $ 800,000 | $ (600,000) | $ (600,000) | ||
Letters of credit outstanding, amount | 400,000 | ||||
Asset impairment charges, total | $ 3,400 | 2,500 | 200 | ||
Number of operating segment | Segment | 1 | ||||
Goodwill impairment | $ 0 | 0 | 0 | ||
Intangible assets not subject to amortization | 0 | 0 | 0 | ||
Deferred revenue | 200,000 | 200,000 | |||
Accounts receivable, net | 1,500,000 | 2,400,000 | |||
Accounts payable | 1,400,000 | 1,200,000 | |||
Advertising expense | 2,300,000 | 8,500,000 | 10,000,000 | ||
Cooperative advertising amount | $ 10,600,000 | $ 7,500,000 | $ 5,800,000 | ||
Weighted average number of shares, common stock subject to repurchase or cancellation | shares | 1,948,004 | 910,813 | |||
Antidilutive securities excluded from computation of earnings per share, amount | shares | 1,900,000 | 1,900,000 | 1,500,000 | ||
Net result on adoption of accounting policy on deferred taxes | $ 0 | ||||
Cumulative gross excess tax benefit | 2,000,000 | $ 553,000 | |||
Additional deferred tax assets | $ 800,000 | ||||
Share-based Compensation Award, Tranche One [Member] | |||||
Share-based compensation arrangement by share-based payment award, upon achievement of annual stock price growth rate targets, percentage | 15.00% | ||||
Share-based Compensation Award, Tranche Two [Member] | |||||
Share-based compensation arrangement by share-based payment award, upon achievement of annual stock price growth rate targets, percentage | 22.50% | ||||
Share-based Compensation Award, Tranche Three [Member] | |||||
Share-based compensation arrangement by share-based payment award, upon achievement of annual stock price growth rate targets, percentage | 30.00% | ||||
Frisco, TX [Member] | |||||
Tenant allowance received | $ 1,100,000 | ||||
Leasehold Improvements [Member] | |||||
Property, plant and equipment, estimated useful lives | lesser of 10 years or the remaining term of the underlying lease | ||||
Furniture and Fixtures [Member] | |||||
Assets held for sale | $ 200,000 | ||||
Systems Services Of America [Member] | Sales Revenue, Net [Member] | |||||
Concentration risk, supplier | 92 | 98 | |||
Jamba Juice Southern California, LLC [Member] | |||||
Noncontrolling interest, ownership percentage by parent | 88.00% | ||||
Jamba Juice stores [Member] | |||||
Number of stores | 909 | ||||
Company Stores [Member] | |||||
Number of stores | 66 | ||||
Franchise Stores [Member] | |||||
Number of stores | 773 | ||||
Franchise agreement useful life | 13 years 4 months 24 days | ||||
International Stores [Member] | |||||
Number of stores | 70 | ||||
Minimum [Member] | |||||
Number of retail locations | Location | 900 | ||||
Uncertain tax positions measurement percentage | 50.00% | ||||
Minimum [Member] | Unvested Stock Option Awards and Time Based Restricted Stock Awards [Member] | |||||
Share-based compensation arrangement by share-based payment award, estimated requisite service period | 3 years | ||||
Minimum [Member] | Leasehold Improvements [Member] | |||||
Property, Plant and Equipment, Useful Life | 10 years | 10 years | 10 years | ||
Minimum [Member] | Furniture and Fixtures [Member] | |||||
Property, Plant and Equipment, Useful Life | 10 years | 3 years | 3 years | ||
Minimum [Member] | Software [Member] | |||||
Property, Plant and Equipment, Useful Life | 1 year | ||||
Maximum | Unvested Stock Option Awards and Time Based Restricted Stock Awards [Member] | |||||
Share-based compensation arrangement by share-based payment award, estimated requisite service period | 4 years | ||||
Maximum | Furniture and Fixtures [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | 10 years | 10 years | ||
Maximum | Software [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years |
Business and Summary of Signi44
Business and Summary of Significant Accounting Policies - Specific Amounts of Out-of-Period (Overstatements)/Understatements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 03, 2017 | Sep. 27, 2016 | Jun. 28, 2016 | Mar. 29, 2016 | Dec. 29, 2015 | Sep. 29, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | Jan. 01, 2013 | |
Total revenue | $ 17,268 | $ 22,061 | $ 21,540 | $ 18,754 | $ 19,549 | $ 35,497 | $ 54,126 | $ 52,504 | $ 79,623 | $ 161,676 | $ 218,048 | |
Total costs, operating expenses and gain | 32,216 | 24,033 | 24,088 | 21,454 | 27,389 | 22,196 | 47,665 | 54,172 | 101,791 | 151,422 | 221,348 | |
(Loss) income from operations | (14,948) | (1,972) | (2,548) | (2,700) | (7,840) | 13,301 | 6,461 | (1,668) | (22,168) | 10,254 | (3,300) | |
Total other expense, net | (215) | (1) | 15 | 12 | 1 | (4) | (54) | (26) | (189) | (83) | (121) | |
(Loss) income before income taxes | (15,163) | (1,973) | (2,533) | (2,688) | (7,839) | 13,297 | 6,407 | (1,694) | (22,357) | 10,171 | (3,421) | |
Income tax expense | (10) | 9 | 54 | (132) | (424) | (194) | (57) | (26) | (79) | (701) | (168) | |
Net (loss) income attributable to Jamba, Inc. | (15,173) | (1,964) | (2,479) | (2,820) | $ (8,263) | $ 13,103 | $ 6,329 | $ (1,751) | $ (22,436) | $ 9,418 | $ (3,632) | |
Earnings (loss) per share attributable to Jamba, Inc. common shareholders: | ||||||||||||
Basic | 15,229,102 | 15,787,806 | 17,197,904 | |||||||||
Diluted | 15,229,102 | 16,228,033 | 17,197,904 | |||||||||
Immaterial Prior Period Adjustment [Member] | ||||||||||||
Total revenue | 151 | (18) | (202) | 4 | $ (65) | $ (3) | $ 33 | $ 35 | ||||
Total costs, operating expenses and gain | (596) | 105 | 490 | (892) | (893) | 624 | 622 | (353) | ||||
(Loss) income from operations | 747 | (124) | (692) | 896 | 828 | (627) | (589) | 388 | ||||
(Loss) income before income taxes | 747 | (124) | (692) | 896 | 828 | (627) | (589) | 388 | ||||
Income tax expense | $ (1) | $ 2 | $ 14 | $ (45) | (30) | 44 | 29 | (10) | ||||
Net (loss) income attributable to Jamba, Inc. | $ 798 | $ (583) | $ (560) | $ 378 | ||||||||
Earnings (loss) per share attributable to Jamba, Inc. common shareholders: | ||||||||||||
Basic | 0.05 | (0.04) | (0.03) | |||||||||
Diluted | 0.05 | (0.04) | (0.03) |
Refranchising - Additional Info
Refranchising - Additional Information (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2016USD ($) | Jan. 03, 2017USD ($)Store | Sep. 27, 2016USD ($) | Jun. 28, 2016USD ($) | Mar. 29, 2016USD ($) | Dec. 29, 2015USD ($)Store | Sep. 29, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Jan. 03, 2017USD ($)Store | Dec. 29, 2015USD ($)Store | Dec. 30, 2014USD ($) | Jun. 27, 2017Store | Nov. 30, 2014Store | |
Number of stores | Store | 66 | 70 | 66 | 70 | ||||||||||
Proceeds from the sale of assets | $ 170 | $ 50,131 | $ 5,557 | |||||||||||
Gain (loss) on disposition of assets, total | $ (289) | $ (204) | $ (188) | $ (109) | $ 275 | $ 16,076 | $ 4,480 | $ 778 | (790) | 21,609 | $ 2,957 | |||
Notes receivable, related parties, noncurrent | $ 2,000 | $ 2,000 | $ 2,000 | $ 2,000 | ||||||||||
Assets Held-for-sale [Member] | Franchised Units [Member] | ||||||||||||||
Number of stores | Store | 176 | 176 | ||||||||||||
Refranchise [Member] | ||||||||||||||
Number of stores | Store | 179 | 179 | 114 | |||||||||||
Number of unopened store | Store | 1 | 1 | ||||||||||||
Proceeds from the sale of stores | $ 53,100 | |||||||||||||
Gain (loss) on disposition of assets, total | $ 21,600 | |||||||||||||
Refranchise [Member] | Headquarters Relocation [Member] | ||||||||||||||
Proceeds from the sale of assets | $ 100 | |||||||||||||
Refranchise [Member] | Subsequent Event [Member] | ||||||||||||||
Number of stores | Store | 13 |
Property, Fixtures, and Equip46
Property, Fixtures, and Equipment - Schedule of Property, Fixtures, and Equipment (Details) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Property, Plant and Equipment [Line Items] | ||
Total | $ 51,157 | $ 51,829 |
Less accumulated depreciation and amortization | (38,645) | (36,229) |
Total | 12,512 | 15,600 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 20,734 | 19,586 |
Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 30,349 | 28,470 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | $ 74 | $ 3,773 |
Property, Fixtures, and Equip47
Property, Fixtures, and Equipment - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Assets held for sale | $ 206 | $ 3,144 | |
Immaterial Prior Period Adjustment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | (200) | ||
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | 5,700 | 6,500 | $ 10,000 |
Assets held for sale | $ 200 | $ 3,100 |
Goodwill, Trademarks and Othe48
Goodwill, Trademarks and Other Intangible Assets - Summary of Changes in Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Balance | $ 1,184 | $ 945 |
Additions | 232 | |
Reclassification out of assets held for sale | 7 | |
Refranchise | (1) | |
Balance | $ 1,183 | $ 1,184 |
Goodwill, Trademarks and Othe49
Goodwill, Trademarks and Other Intangible Assets - Schedule of Carrying Amount and Accumulated Amortization of Trademarks and Other Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Amortized Intangible Assets Gross Amount | $ 3,933 | $ 3,991 |
Amortized Intangible Assets Accumulated Amortization | (2,606) | (2,527) |
Amortized Intangible Assets Net Amount | 1,327 | 1,464 |
Trademarks [Member] | ||
Amortized Intangible Assets Gross Amount | 807 | 807 |
Amortized Intangible Assets Accumulated Amortization | 0 | 0 |
Amortized Intangible Assets Net Amount | 807 | 807 |
Favorable Leases [Member] | ||
Amortized Intangible Assets Gross Amount | 1,850 | 1,850 |
Amortized Intangible Assets Accumulated Amortization | (1,850) | (1,850) |
Amortized Intangible Assets Net Amount | 0 | 0 |
Franchise Agreements and Customer Lists [Member] | ||
Amortized Intangible Assets Gross Amount | 677 | 735 |
Amortized Intangible Assets Accumulated Amortization | (511) | (496) |
Amortized Intangible Assets Net Amount | 166 | 239 |
Franchise Rights [Member] | ||
Amortized Intangible Assets Gross Amount | 599 | 599 |
Amortized Intangible Assets Accumulated Amortization | (245) | (181) |
Amortized Intangible Assets Net Amount | $ 354 | $ 418 |
Goodwill, Trademarks and Othe50
Goodwill, Trademarks and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Amortization of intangible assets | $ 0.1 | $ 0.1 | $ 0.1 |
Finite lived intangible assets subject to amortization | $ 0.5 |
Goodwill, Trademarks and Othe51
Goodwill, Trademarks and Other Intangible Assets - Schedule of Expected Annual Amortization Expense for Remaining Intangible Assets (Details) $ in Thousands | Jan. 03, 2017USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2,017 | $ 114 |
2,018 | 112 |
2,019 | 97 |
2,020 | 62 |
2,021 | 47 |
Thereafter | $ 88 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Details) - Store | 12 Months Ended | ||||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | Mar. 31, 2015 | Sep. 30, 2014 | |
Number of stores | 66 | 70 | |||
Assets - Held for sale [Member] | |||||
Number of stores | 22 | ||||
Leasehold Improvements [Member] | |||||
Property, plant and equipment, estimated useful lives | lesser of 10 years or the remaining term of the underlying lease | ||||
Leasehold Improvements [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 10 years | 10 years | 10 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 10 years | 3 years | 3 years | ||
Furniture and Fixtures [Member] | Maximum | |||||
Property, Plant and Equipment, Useful Life | 3 years | 10 years | 10 years | ||
Domestic [Member] | |||||
Number of stores | 2 | 26 | |||
Number of stores closed | 3 |
Acquisitions - Summary of the P
Acquisitions - Summary of the Purchase Price, the Fair Value of the Net Assets Acquired and the Goodwill on the Purchase (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 29, 2015 | Dec. 30, 2014 | |
Business Combination And Assets Held For Sale [Abstract] | ||
Cash paid to acquire stores | $ 737 | $ 725 |
Additional consideration resulting from termination of pre-existing relationships | 85 | 369 |
Total purchase consideration | 822 | 1,094 |
Net assets acquired: | ||
Current assets | 12 | 145 |
Fixed assets | 259 | 365 |
Re-acquired franchise rights | 424 | 476 |
Other assets and liabilities | 343 | |
Unfavorable Lease | (105) | |
Net assets acquired | 590 | 1,329 |
Goodwill | $ 232 | $ 235 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Business acquisitions, contingent consideration, at fair value, gain or loss | $ 300,000 | $ 200,000 | |
Long-lived assets carried at fair value | 0 | 0 | |
Tangible asset impairment charges, total | 300,000 | ||
Trademarks [Member] | |||
Impairment of intangible assets, indefinite-lived (excluding goodwill) | 300,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Impairment of intangible assets (excluding goodwill), total | $ 400,000 | $ 600,000 | $ 200,000 |
Notes Receivable and Other Lo55
Notes Receivable and Other Long-term Assets - Schedule of Accounts Notes Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Accounts Notes And Loans Receivable [Line Items] | ||
Long-term investments and receivables, net, Total | $ 2,894 | $ 4,211 |
Investment in unconsolidated subsidiaries [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Long-term investments and receivables, net, Total | 126 | 522 |
Deposits and other [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Long-term investments and receivables, net, Total | 889 | 582 |
Notes receivable [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Long-term investments and receivables, net, Total | $ 1,879 | $ 3,107 |
Notes Receivable and Other Lo56
Notes Receivable and Other Long-term Assets - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 29, 2015 | Jan. 03, 2017 | |
Notes, loans and financing receivable, net, noncurrent, Total | $ 2 | |
Notes receivable maturity date | Feb. 1, 2021 | |
Loans receivable fixed rate of interest | 3.00% | |
Notes from Franchisees [Member] | ||
Notes, loans and financing receivable, net, noncurrent, Total | $ 3.1 | $ 1.9 |
Development Agreements - Additi
Development Agreements - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Deferred franchise revenue | $ 1.3 | $ 1.1 |
International Development Fees [Member] | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Deferred franchise revenue | $ 1.5 | $ 1.5 |
License Agreement Terms [Member] | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Commitments from franchise agreements | five years |
Development Agreements - Number
Development Agreements - Number of Franchise and International Stores (Details) | Jan. 03, 2017StoreDeveloper | Dec. 29, 2015StoreDeveloper |
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Number of stores | 66 | 70 |
Franchise Store Contractual Commitments [Member] | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Number of developers | Developer | 27 | 32 |
Franchise Stores Commitments Exist [Member] | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Number of stores | 122 | 163 |
International Stores Contractual Commitments [Member] | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Number of developers | Developer | 6 | 7 |
International Stores Commitments Exist [Member] | ||
Indefinite Lived Intangible Assets By Major Class [Line Items] | ||
Number of stores | 307 | 485 |
Deferred Rent and Other Long-59
Deferred Rent and Other Long-Term Liabilities - Schedule of Other Long-term Liabilities (Details) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Other Liabilities Disclosure [Abstract] | ||
Deferred rent | $ 2,260 | $ 2,961 |
Deferred revenue | 2,950 | 3,720 |
Construction allowance | 1,423 | 735 |
Other liabilities | 2,307 | 1,574 |
Total deferred rent and other long-term liabilities | $ 8,940 | $ 8,990 |
Lease Commitments - Additional
Lease Commitments - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Leases [Abstract] | |||
Description of lessee leasing arrangements, operating leases | The Company leases its office, retail stores, and some equipment under operating leases, with terms expiring through 2027. Most store leases have an initial term of 10 years, with renewal options of up to 10 years and provide for payment of common area operating expenses and real estate taxes. | ||
Operating leases, rent expense, net, total | $ 7.1 | $ 15.6 | $ 22.3 |
Operating leases, income statement, sublease revenue | 20.5 | 13.8 | 9.2 |
Operating leases, rent expense, contingent rentals | $ 0.4 | $ 0.5 | $ 0.5 |
Lease Commitments - Schedule of
Lease Commitments - Schedule of Future Minimum Noncancelable Lease Payments and Minimum Rentals to Be Received from Sublessees (Details) $ in Thousands | Jan. 03, 2017USD ($) |
Leases [Abstract] | |
Minimum lease payments for 2017 | $ 26,354 |
Minimum lease payments for 2018 | 22,539 |
Minimum lease payments for 2019 | 18,569 |
Minimum lease payments for 2020 | 14,585 |
Minimum lease payments for 2021 | 10,769 |
Minimum lease payments Thereafter | 22,500 |
Minimum lease payments Total | 115,316 |
Minimum rentals to be received for 2017 | 20,117 |
Minimum rentals to be received for 2018 | 16,734 |
Minimum rentals to be received for 2019 | 13,505 |
Minimum rentals to be received for 2020 | 10,236 |
Minimum rentals to be received for 2021 | 7,446 |
Minimum rentals to be received Thereafter | 12,583 |
Minimum rentals to be received Total | $ 80,621 |
Credit Agreement - Additional I
Credit Agreement - Additional Information (Details) - USD ($) | Nov. 03, 2016 | Jan. 03, 2017 |
Credit Agreement [Line Items] | ||
Letters of credit outstanding, amount | $ 400,000 | |
Cadence Bank NA [Member] | ||
Credit Agreement [Line Items] | ||
Line of credit facility, maximum borrowing capacity | $ 10,000,000 | $ 15,000,000 |
Line of credit facility, additional borrowing capacity | $ 5,000,000 | |
Debt instrument, description of variable rate basis | accrues interest at a per annum rate equal to the LIBOR rate plus 2.50% | |
Debt instrument, term | 5 years | |
Credit facility outstanding amount | $ 0 | |
Line of Credit [Member] | ||
Credit Agreement [Line Items] | ||
Line of credit facility, maximum borrowing capacity | $ 10,000,000 | |
Line of credit facility, interest rate description | LIBOR Market Index Rate based upon the rate for one month U.S. dollar deposits, plus 2.50% per annum | |
Letters of credit outstanding, amount | $ 400,000 | |
Line of Credit [Member] | Cadence Bank NA [Member] | ||
Credit Agreement [Line Items] | ||
Debt instrument, maturity date | Nov. 3, 2021 | |
LIBOR [Member] | Cadence Bank NA [Member] | ||
Credit Agreement [Line Items] | ||
Debt instrument, basis spread on variable rate | 2.50% | |
LIBOR Market Index Rate [Member] | Line of Credit [Member] | ||
Credit Agreement [Line Items] | ||
Debt instrument, basis spread on variable rate | 2.50% |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
May 17, 2016 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee service share-based compensation, tax benefit from compensation expense | $ 0 | $ 600,000 | $ 0 | |
Share-based compensation arrangement by share-based payment award, accelerated vesting, number | 5,000 | |||
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value | $ 4.30 | $ 13.92 | $ 5.64 | |
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding, weighted average remaining contractual term | 4 years 10 months 10 days | |||
Remaining expense to amortize | $ 1,700,000 | |||
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding, weighted average remaining recognition period | 2 years | |||
Chief Executive Officer [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 15.00% | |||
Chief Executive Officer [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 22.50% | |||
Chief Executive Officer [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 30.00% | |||
Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares, granted | 3,514 | 1,094 | 0 | |
Weighted-Average Grant Date Fair Value, granted | $ 12.80 | $ 13.71 | ||
Time-Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share based compensation arrangement by share based payment award option and restricted stock, remaining weighted average vesting period | 1 year | |||
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value | $ 11.31 | $ 15.10 | $ 13.21 | |
Number of shares, granted | 44,000 | 52,000 | 270,000 | |
Weighted-Average Grant Date Fair Value, granted | $ 11.31 | |||
Vesting period | 3 years | |||
Share-based compensation arrangement by share-based payment award equity instruments other than options grants in period grant date fair value | $ 500,000 | $ 800,000 | $ 3,300,000 | |
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, outstanding | 700,000 | $ 2,600,000 | $ 4,000,000 | |
Unvested share-based compensation | $ 500,000 | |||
Number shares vested | 127,000 | |||
Performance-Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share based compensation arrangement by share based payment award option and restricted stock, remaining weighted average vesting period | 7 months | |||
Number of shares, granted | 8,000 | 0 | 95,000 | |
Weighted-Average Grant Date Fair Value, granted | $ 10.11 | $ 14.37 | ||
Share-based compensation arrangement by share-based payment award equity instruments other than options grants in period grant date fair value | $ 1,200,000 | |||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, outstanding | $ 200,000 | $ 800,000 | ||
Number shares vested | 2,000 | |||
Performance-Based Restricted Stock Units [Member] | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unvested share-based compensation | $ 100,000 | |||
Market-Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share based compensation arrangement by share based payment award option and restricted stock, remaining weighted average vesting period | 14 months | |||
Number of shares, granted | 505,000 | |||
Weighted-Average Grant Date Fair Value, granted | $ 3.04 | |||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, outstanding | $ 5,200,000 | |||
Unvested share-based compensation | $ 900,000 | |||
Number shares vested | 0 | |||
Share based compensation arrangement by share based payment award options grants in period grant date fair value | $ 1,500,000 | 0 | 0 | |
Market-Based Restricted Stock Units [Member] | Chief Executive Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares, granted | 350,000 | |||
Vesting period | 3 years | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding, number | 1,100,000 | |||
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding, weighted average remaining contractual term | 4 years | |||
General and Administrative Expense [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated share-based compensation expense | $ 2,600,000 | $ 5,200,000 | $ 3,100,000 | |
Equity Incentive Plan 2013 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, number of additional shares authorized | 900,000 | |||
Share-based compensation arrangement by share-based payment award, number of shares authorized | 3,028,847 | |||
Share-based compensation arrangement by share-based payment award, number of shares available for grant | 842,120 | |||
Equity Incentive Plan 2013 and Inducement Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, expiration period | 10 years | |||
Share based compensation arrangement by share based payment award option and restricted stock, remaining weighted average vesting period | 4 years | |||
Inducement Awards [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 15.00% | |||
Inducement Awards [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 22.50% | |||
Inducement Awards [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 30.00% | |||
Inducement Awards [Member] | Market-Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number shares vested | 155,000 | |||
Inducement Awards [Member] | Market-Based Restricted Stock Units [Member] | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, estimated requisite service period | 24 months | |||
Inducement Awards [Member] | Market-Based Restricted Stock Units [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation arrangement by share-based payment award, estimated requisite service period | 18 months |
Share-Based Compensation - Sche
Share-Based Compensation - Schedule of Fair Value of Stock Options Estimated at Date of Grant Using Black-Scholes Option Pricing Model with Weighted-Average Assumptions (Details) | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||
Weighted-average risk-free interest rate | 1.36% | 1.75% | 0.12% |
Expected life of options (years) | 5 years 2 months 19 days | 5 years 10 months 6 days | 9 months 18 days |
Expected stock volatility | 40.50% | 43.70% | 60.80% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Stock Option Activities (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Number of Options outstanding, beginning balance | 1,530 | |
Number of Options, granted | 315 | |
Number of Options, exercised | (197) | |
Number of Options, canceled | (448) | |
Number of Options outstanding, ending balance | 1,200 | 1,530 |
Number of Options, vested or expected to vest - January 3, 2017 | 1,112 | |
Number of Options, exercisable - January 3, 2017 | 485 | |
Weighted-Average Exercise Price outstanding, beginning balance (in dollars per share) | $ 12.42 | |
Weighted-Average Exercise Price, granted (in dollars per share) | 13.11 | |
Weighted-Average Exercise Price, exercised (in dollars per share) | 5.50 | |
Weighted-Average Exercise Price, canceled (in dollars per share) | 16 | |
Weighted-Average Exercise Price outstanding, ending balance (in dollars per share) | 12.40 | $ 12.42 |
Weighted-Average Exercise Price, vested or expected to vest - January 3, 2017 (in dollars per share) | 12.32 | |
Weighted-Average Exercise Price, exercisable - January 3, 2017 (in dollars per share) | $ 10.74 | |
Weighted-Average Contractual Term Remaining (years) | 5 years 18 days | 5 years 9 months 3 days |
Weighted-Average Contractual Term Remaining vested or expected to vest - January 3, 2017 | 4 years 10 months 10 days | |
Weighted-Average Contractual Term Remaining exercisable - January 3, 2017 | 1 year 7 months 24 days | |
Aggregate Intrinsic Value, outstanding | $ 1,213 | $ 3,960 |
Aggregate Intrinsic Value, vested or expected to vest - January 3, 2017 | 1,213 | |
Aggregate Intrinsic Value, exercisable at January 3, 2017 | $ 1,211 |
Share-Based Compensation - Su66
Share-Based Compensation - Summary of Options Outstanding and Exercisable (Details) - $ / shares shares in Thousands | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Number Outstanding | 1,200 | 1,530 |
Weighted-Average Remaining Contractual Life | 5 years 18 days | 5 years 9 months 3 days |
Weighted-Average Exercise Price outstanding | $ 12.40 | $ 12.42 |
Number Exercisable | 485 | |
Weighted-Average Exercise Price exercisable | $ 10.74 | |
Range of Exercise Prices $3.00 - $3.00 | ||
Range of Exercise Prices, minimum | 3 | |
Range of Exercise Prices, maximum | $ 3 | |
Number Outstanding | 141 | |
Weighted-Average Remaining Contractual Life | 1 year 18 days | |
Weighted-Average Exercise Price outstanding | $ 3 | |
Number Exercisable | 141 | |
Weighted-Average Exercise Price exercisable | $ 3 | |
Range of Exercise Prices $5.40 - $10.87 | ||
Range of Exercise Prices, minimum | 5.40 | |
Range of Exercise Prices, maximum | $ 10.87 | |
Number Outstanding | 130 | |
Weighted-Average Remaining Contractual Life | 4 years 1 month 20 days | |
Weighted-Average Exercise Price outstanding | $ 9.02 | |
Number Exercisable | 89 | |
Weighted-Average Exercise Price exercisable | $ 8.33 | |
Range of Exercise Prices $10.93 $11.65 | ||
Range of Exercise Prices, minimum | 10.93 | |
Range of Exercise Prices, maximum | $ 11.65 | |
Number Outstanding | 139 | |
Weighted-Average Remaining Contractual Life | 6 years 5 months 5 days | |
Weighted-Average Exercise Price outstanding | $ 11.41 | |
Number Exercisable | 58 | |
Weighted-Average Exercise Price exercisable | $ 11.13 | |
Range of Exercise Prices $11.98 - $11.98 | ||
Range of Exercise Prices, minimum | 11.98 | |
Range of Exercise Prices, maximum | $ 11.98 | |
Number Outstanding | 10 | |
Weighted-Average Remaining Contractual Life | 4 years 4 months 13 days | |
Weighted-Average Exercise Price outstanding | $ 11.98 | |
Number Exercisable | 10 | |
Weighted-Average Exercise Price exercisable | $ 11.98 | |
Range of Exercise Prices $12.35 - $12.35 | ||
Range of Exercise Prices, minimum | 12.35 | |
Range of Exercise Prices, maximum | $ 12.35 | |
Number Outstanding | 153 | |
Weighted-Average Remaining Contractual Life | 9 years 18 days | |
Weighted-Average Exercise Price outstanding | $ 12.35 | |
Number Exercisable | 3 | |
Weighted-Average Exercise Price exercisable | $ 12.35 | |
Range of Exercise Prices $13.30 - $13.71 | ||
Range of Exercise Prices, minimum | 13.30 | |
Range of Exercise Prices, maximum | $ 13.71 | |
Number Outstanding | 44 | |
Weighted-Average Remaining Contractual Life | 7 years 8 months 9 days | |
Weighted-Average Exercise Price outstanding | $ 13.49 | |
Number Exercisable | 15 | |
Weighted-Average Exercise Price exercisable | $ 13.44 | |
Range of Exercise Prices $13.94 - $13.94 | ||
Range of Exercise Prices, minimum | 13.94 | |
Range of Exercise Prices, maximum | $ 13.94 | |
Number Outstanding | 503 | |
Weighted-Average Remaining Contractual Life | 4 years 5 months 16 days | |
Weighted-Average Exercise Price outstanding | $ 13.94 | |
Number Exercisable | 139 | |
Weighted-Average Exercise Price exercisable | $ 13.94 | |
Range of Exercise Prices $19.50 - $45.55 | ||
Range of Exercise Prices, minimum | 19.50 | |
Range of Exercise Prices, maximum | $ 45.55 | |
Number Outstanding | 68 | |
Weighted-Average Remaining Contractual Life | 6 years 10 months 14 days | |
Weighted-Average Exercise Price outstanding | $ 21.89 | |
Number Exercisable | 18 | |
Weighted-Average Exercise Price exercisable | $ 28.38 | |
Range of Exercise Prices $47.55 - $47.55 | ||
Range of Exercise Prices, minimum | 47.55 | |
Range of Exercise Prices, maximum | $ 47.55 | |
Number Outstanding | 6 | |
Weighted-Average Remaining Contractual Life | 5 months 9 days | |
Weighted-Average Exercise Price outstanding | $ 47.55 | |
Number Exercisable | 6 | |
Weighted-Average Exercise Price exercisable | $ 47.55 | |
Range of Exercise Prices $50.25 - $50.25 | ||
Range of Exercise Prices, minimum | 50.25 | |
Range of Exercise Prices, maximum | $ 50.25 | |
Number Outstanding | 6 | |
Weighted-Average Remaining Contractual Life | 5 months 1 day | |
Weighted-Average Exercise Price outstanding | $ 50.25 | |
Number Exercisable | 6 | |
Weighted-Average Exercise Price exercisable | $ 50.25 |
Share-Based Compensation - Su67
Share-Based Compensation - Summary of Outstanding Time-Based Restricted Stock Units (Details) - Time-Based Restricted Stock Units [Member] - $ / shares | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares, outstanding | 190,000 | ||
Number of shares, granted | 44,000 | 52,000 | 270,000 |
Number of shares, forfeited | (39,000) | ||
Number of shares, vested | (127,000) | ||
Number of shares, outstanding | 68,000 | 190,000 | |
Weighted-Average Grant Date Fair Value, outstanding | $ 14.09 | ||
Weighted-Average Grant Date Fair Value, granted | 11.31 | ||
Weighted-Average Grant Date Fair Value, forfeited | 13.95 | ||
Weighted-Average Grant Date Fair Value, vested | 13.70 | ||
Weighted- Average Grant Date Fair Value, outstanding | $ 13.11 | $ 14.09 |
Share-Based Compensation - Su68
Share-Based Compensation - Summary of Outstanding Performance-Based Restricted Stock Units (Details) - Performance-Based Restricted Stock Units [Member] - $ / shares | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares, outstanding | 57,000 | ||
Number of shares, granted | 8,000 | 0 | 95,000 |
Number of shares, forfeited | (46,000) | ||
Number of shares, vested | (2,000) | ||
Number of shares, outstanding | 17,000 | 57,000 | |
Weighted-Average Grant Date Fair Value, outstanding | $ 13.89 | ||
Weighted-Average Grant Date Fair Value, granted | 10.11 | $ 14.37 | |
Weighted-Average Grant Date Fair Value, forfeited | 13.85 | ||
Weighted-Average Grant Date Fair Value, vested | 14.04 | ||
Weighted- Average Grant Date Fair Value, outstanding | $ 12.27 | $ 13.89 |
Share-Based Compensation - Su69
Share-Based Compensation - Summary of Outstanding Market-Based Restricted Stock Units (Details) - Market-Based Restricted Stock Units [Member] shares in Thousands | 12 Months Ended |
Jan. 03, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of shares, outstanding | shares | 0 |
Number of shares, granted | shares | 505 |
Number of shares, forfeited | shares | 0 |
Number of shares, vested | shares | 0 |
Number of shares, outstanding | shares | 505 |
Weighted-Average Grant Date Fair Value, outstanding | $ / shares | $ 0 |
Weighted-Average Grant Date Fair Value, granted | $ / shares | 3.04 |
Weighted-Average Grant Date Fair Value, forfeited | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, vested | $ / shares | 0 |
Weighted- Average Grant Date Fair Value, outstanding | $ / shares | $ 3.04 |
Stock Repurchases - Additional
Stock Repurchases - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions | Aug. 04, 2016 | Oct. 29, 2014 | Sep. 29, 2015 | May 31, 2015 | Dec. 29, 2015 | Dec. 30, 2014 | Jan. 03, 2017 | Sep. 30, 2015 |
Equity [Abstract] | ||||||||
Stock repurchase program, authorized amount | $ 20,000,000 | $ 25,000,000 | $ 40,000,000 | $ 45,000,000 | ||||
Stock repurchase program authorized period | 2 years | 18 months | ||||||
Increase stock repurchase program authorized amount | $ 5,000,000 | $ 15,000,000 | ||||||
Treasury stock, shares, retired | 2 | 0.9 | ||||||
Treasury stock acquired, average cost per share | $ 14.38 | $ 13.17 | ||||||
Treasury stock, retired, cost method, amount | $ 28,000,000 | $ 12,000,000 | ||||||
Stock repurchase program, remaining authorized repurchase amount | $ 5,000,000 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 03, 2017 | Sep. 27, 2016 | Jun. 28, 2016 | Mar. 29, 2016 | Dec. 29, 2015 | Sep. 29, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Current: | |||||||||||
Federal | $ 0 | $ (438) | $ 0 | ||||||||
State | (14) | (149) | (37) | ||||||||
Foreign | (65) | (114) | (131) | ||||||||
Current income tax (expense) benefit | (79) | (701) | (168) | ||||||||
Deferred: | |||||||||||
Federal | 0 | 0 | 0 | ||||||||
State | 0 | 0 | 0 | ||||||||
Foreign | 0 | 0 | 0 | ||||||||
Deferred income tax (expense) benefit | 0 | 0 | 0 | ||||||||
Income tax benefit (expense) | $ (10) | $ 9 | $ 54 | $ (132) | $ (424) | $ (194) | $ (57) | $ (26) | $ (79) | $ (701) | $ (168) |
Income Taxes - Summary of Diffe
Income Taxes - Summary of Difference Between Effective Income Tax Rate and The United States Federal Income Tax Rate (Details) | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Income Tax Disclosure [Abstract] | |||
Statutory federal rate | 34.00% | 34.00% | 34.00% |
State income taxes less federal benefit | (1.40%) | (9.20%) | 5.90% |
Foreign income taxes | (0.30%) | 1.10% | (2.50%) |
Change in valuation allowance | (24.60%) | (38.10%) | (31.50%) |
Meals | (0.10%) | 0.30% | (1.20%) |
Business Gain on Acquisition | 0.00% | 0.00% | 8.50% |
Alternative minimum taxes | 0.00% | 0.10% | (1.00%) |
Expired tax attribute carryforwards | (6.40%) | 11.10% | (17.00%) |
Tax credits generated | (0.00%) | (0.10%) | 0.30% |
Other | (1.60%) | 7.70% | (0.30%) |
Effective income tax rate reconciliation, percent | (0.40%) | 6.90% | (4.80%) |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets (Liabilities) of Temporary Differences (Details) - USD ($) $ in Thousands | Jan. 03, 2017 | Dec. 29, 2015 |
Income Tax Disclosure [Abstract] | ||
Net operating losses | $ 62,875 | $ 50,837 |
Reserves and accruals | 5,073 | 10,754 |
Deferred rent | 967 | 1,518 |
Tax credit attributes | 1,957 | 1,999 |
Basis difference in intangibles | 1,152 | 1,510 |
Share-based compensation | 1,915 | 2,979 |
Basis difference in fixed assets | 5,670 | 3,245 |
Basis difference in intangibles | (95) | (289) |
Basis difference in investments | 144 | 4 |
Reserves and accruals | (29) | (64) |
Total gross deferred tax asset | 79,629 | 72,493 |
Valuation allowance | (79,629) | (72,493) |
Total net deferred tax asset | $ 0 | $ 0 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Income Tax [Line Items] | ||
Valuation allowance, deferred tax asset, increase (decrease), amount | $ 7,100 | |
Deferred tax assets, tax credit carryforwards, total | $ 1,957 | $ 1,999 |
Earliest Tax Year [Member] | ||
Income Tax [Line Items] | ||
Operating loss carry forward expiration year | 2,017 | |
Latest Tax Year [Member] | ||
Income Tax [Line Items] | ||
Operating loss carry forward expiration year | 2,036 | |
Domestic Tax Authority [Member] | ||
Income Tax [Line Items] | ||
Operating loss carryforwards | $ 148,400 | |
Deferred tax assets, tax credit carryforwards, total | 1,100 | |
Tax credit carryforwards expire amount | $ 300 | |
Operating loss carryforwards, limitations on use | Approximately $0.3 million of the federal tax credit carryforwards will start to expire in 2031 if unused before that year | |
State and Local Jurisdiction [Member] | ||
Income Tax [Line Items] | ||
Operating loss carryforwards | $ 144,500 | |
Deferred tax assets, tax credit carryforwards, total | 900 | |
Tax credit carryforwards expire amount | $ 700 | |
Operating loss carryforwards, limitations on use | Of the state tax credit carryforwards, approximately $0.7 million will start to expire in 2023 if unused before that year |
Income Taxes - Schedule of Chan
Income Taxes - Schedule of Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Income Tax Disclosure [Abstract] | ||
Beginning balance | $ 185 | $ 185 |
Increases attributable to tax positions taken during prior periods | 0 | 0 |
Decreases resulting from lapse of applicable statutes of limitations | 0 | 0 |
Ending balance | $ 185 | $ 185 |
Employee Benefit Plan - Additio
Employee Benefit Plan - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Maximum | |||
Compensation And Employee Benefit Plans [Line Items] | |||
Discretionary contributions for 401K | $ 0.1 | $ 0.1 | $ 0.1 |
Severance and Other Compensat77
Severance and Other Compensation - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jan. 02, 2018 | Jan. 03, 2017 | Dec. 29, 2015 | Apr. 04, 2017 | |
Restructuring Cost and Reserve [Line Items] | ||||
Retention expenses classified in accounts payable | $ 3,580 | $ 3,788 | ||
Severance costs | 800 | |||
Headquarters Relocation [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance costs classified in accrued compensation and benefits | 1,600 | |||
Retention expenses classified in accounts payable | 800 | |||
Headquarters Relocation [Member] | Scenario, Forecast [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Bonuses payable | $ 900 | |||
Employee Severance [Member] | Chief Executive Officer [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance costs | 800 | |||
Payment of severance costs | $ 800 | |||
Employee Severance [Member] | Other Senior Executives [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance costs | $ 600 | |||
Employee Severance [Member] | Scenario, Forecast [Member] | Other Senior Executives [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance costs | $ 300 |
Store Lease Termination and C78
Store Lease Termination and Closure Costs - Additional Information (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 29, 2015USD ($)Store | Jan. 03, 2017USD ($)Store | Dec. 29, 2015USD ($)Store | |
Operating Leased Assets [Line Items] | |||
Severance costs | $ 800 | ||
Operating leases, future minimum payments due, total | $ 115,316 | ||
Contract Termination [Member] | |||
Operating Leased Assets [Line Items] | |||
Number of stores closed | Store | 8 | 1 | 8 |
Business exit costs | $ 1,600 | $ 3,600 | |
Fair value adjustments lease termination obligations | 1,300 | 1,300 | |
Assets write off | 200 | 2,300 | |
Severance costs | $ 100 | ||
Remaining lease termination obligation | $ 500 | ||
Fair value assumptions, risk free interest rate | 4.95% | 6.50% | |
Operating leases, future minimum payments due, total | $ 3,500 | ||
Operating leases, rent expense, sublease rentals | 1,600 | ||
Transaction fee to advisors | 100 | ||
Operating lease obligations estimated fair value | $ 1,800 |
Other Operating, Net - Schedule
Other Operating, Net - Schedule of Components of Other Operating, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 03, 2017 | Sep. 27, 2016 | Jun. 28, 2016 | Mar. 29, 2016 | Dec. 29, 2015 | Sep. 29, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Other Operating Net [Abstract] | |||||||||||
Jambacard breakage income | $ (4,096) | $ (5,440) | $ (4,744) | ||||||||
Jambacard expense | 902 | 1,155 | 1,299 | ||||||||
CPG and JambaGO® direct expense | 1,700 | 3,035 | 2,637 | ||||||||
Franchise discount expense | 461 | 706 | 847 | ||||||||
Franchise other expense | 676 | 834 | 1,025 | ||||||||
Sublease income | (670) | (192) | (121) | ||||||||
Bad debt | 1,560 | 1,474 | 61 | ||||||||
International expense | 613 | 708 | 316 | ||||||||
Contingent consideration fair value measurement | (295) | (156) | (397) | ||||||||
Other (income) expense | (63) | (329) | (197) | ||||||||
Total other operating, net | $ 463 | $ 104 | $ 245 | $ 271 | $ (619) | $ 375 | $ 1,333 | $ 706 | $ 1,083 | $ 1,795 | $ 726 |
Other Commitments and Conting80
Other Commitments and Contingencies - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Loss Contingencies [Line Items] | |||
Charges associated with ongoing and settled litigation matters | $ 2,000,000 | $ 0 | $ 0 |
Litigation cases estimated, amounts | 1,000,000 | ||
Purchase commitment, remaining minimum amount committed | $ 30,700,000 | ||
Purchase commitment, description | The Company has purchase obligations with certain suppliers for certain fruits and dairy for various terms typically ranging from one year to five years. The Company has one contract with a supplier for a 15 year term that ends in 2024 | ||
Commercial Vendor Dispute [Member] | |||
Loss Contingencies [Line Items] | |||
Charges associated with ongoing and settled litigation matters | $ 1,000,000 | ||
Purchase commitment, remaining minimum amount committed | $ 1,000,000 |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 03, 2017 | Dec. 29, 2015 | |
Country Pure Foods [Member] | ||
Related Party Transaction [Line Items] | ||
Management fees revenue, total | $ 0.2 | $ 0.2 |
Sodexo [Member] | ||
Related Party Transaction [Line Items] | ||
Licenses revenue | $ 0.3 | $ 0.3 |
Unaudited Quarterly Informati82
Unaudited Quarterly Information - Schedule of Unaudited Consolidated Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 03, 2017 | Sep. 27, 2016 | Jun. 28, 2016 | Mar. 29, 2016 | Dec. 29, 2015 | Sep. 29, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Revenue: | |||||||||||
Company stores | $ 11,105 | $ 14,350 | $ 13,874 | $ 11,953 | $ 12,724 | $ 28,213 | $ 48,360 | $ 47,728 | $ 51,282 | $ 137,025 | $ 198,737 |
Franchise and other revenue | 6,163 | 7,711 | 7,666 | 6,801 | 6,825 | 7,284 | 5,766 | 4,776 | 28,341 | 24,651 | 19,311 |
Total revenue | 17,268 | 22,061 | 21,540 | 18,754 | 19,549 | 35,497 | 54,126 | 52,504 | 79,623 | 161,676 | 218,048 |
Costs and operating expenses (income): | |||||||||||
Cost of sales | 2,881 | 3,437 | 3,321 | 2,962 | 3,230 | 6,626 | 11,474 | 12,407 | 12,601 | 33,737 | 52,236 |
Labor | 4,402 | 4,644 | 4,668 | 4,158 | 4,925 | 8,843 | 14,876 | 16,088 | 17,872 | 44,732 | 61,749 |
Occupancy | 1,844 | 1,879 | 1,900 | 2,036 | 2,005 | 3,980 | 6,131 | 6,835 | 7,659 | 18,951 | 27,630 |
Store operating | 2,270 | 2,381 | 2,272 | 2,362 | 3,158 | 5,901 | 8,059 | 8,034 | 9,285 | 25,152 | 33,089 |
Depreciation and amortization | 1,505 | 1,068 | 1,674 | 1,502 | 2,209 | 1,143 | 1,344 | 1,873 | 5,749 | 6,569 | 10,084 |
General and administrative | 11,226 | 9,699 | 9,423 | 7,610 | 10,479 | 9,003 | 8,427 | 8,963 | 37,958 | 36,872 | 37,278 |
Loss (gain) on disposal of assets | 289 | 204 | 188 | 109 | (275) | (16,076) | (4,480) | (778) | 790 | (21,609) | (2,957) |
Store pre-opening | 364 | 210 | 326 | 324 | 556 | 287 | 166 | 22 | 1,224 | 1,031 | 763 |
Impairment of long-lived assets | 3,054 | 229 | 127 | 321 | 1,907 | 295 | 0 | 3,410 | 2,523 | 175 | |
Store lease termination and closure | 3,918 | 178 | (56) | 120 | 1,400 | 207 | 40 | 22 | 4,160 | 1,669 | 575 |
Other operating, net | 463 | 104 | 245 | 271 | (619) | 375 | 1,333 | 706 | 1,083 | 1,795 | 726 |
Total costs and operating expenses (income): | 32,216 | 24,033 | 24,088 | 21,454 | 27,389 | 22,196 | 47,665 | 54,172 | 101,791 | 151,422 | 221,348 |
(Loss) income from operations | (14,948) | (1,972) | (2,548) | (2,700) | (7,840) | 13,301 | 6,461 | (1,668) | (22,168) | 10,254 | (3,300) |
Other income (expense): | |||||||||||
Interest income | 55 | 50 | 74 | 71 | 59 | 49 | 14 | 15 | 250 | 137 | 74 |
Interest expense | (270) | (51) | (59) | (59) | (58) | (53) | (68) | (41) | (439) | (220) | (195) |
Total other income (expense), net | (215) | (1) | 15 | 12 | 1 | (4) | (54) | (26) | (189) | (83) | (121) |
(Loss) income before income taxes | (15,163) | (1,973) | (2,533) | (2,688) | (7,839) | 13,297 | 6,407 | (1,694) | (22,357) | 10,171 | (3,421) |
Income tax (expense) benefit | (10) | 9 | 54 | (132) | (424) | (194) | (57) | (26) | (79) | (701) | (168) |
Net (loss) income | (15,173) | (1,964) | (2,479) | (2,820) | (8,263) | 13,103 | 6,350 | (1,720) | (22,436) | 9,470 | (3,589) |
Less: Net income attributable to noncontrolling interest | 21 | 31 | 52 | 43 | |||||||
Net (loss) income attributable to Jamba, Inc. | $ (15,173) | $ (1,964) | $ (2,479) | $ (2,820) | $ (8,263) | $ 13,103 | $ 6,329 | $ (1,751) | $ (22,436) | $ 9,418 | $ (3,632) |
(Loss) earnings per share attributable to Jamba, Inc. common shareholders: | |||||||||||
Basic | $ (0.99) | $ (0.13) | $ (0.16) | $ (0.19) | $ (0.55) | $ 0.83 | $ 0.39 | $ (0.11) | $ (1.47) | $ 0.60 | $ (0.21) |
Diluted | $ (0.99) | $ (0.13) | $ (0.16) | $ (0.19) | $ (0.55) | $ 0.81 | $ 0.38 | $ (0.11) | $ (1.47) | $ 0.58 | $ (0.21) |
Unaudited Quarterly Informati83
Unaudited Quarterly Information - Additional Information (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 03, 2017USD ($)Store | Sep. 27, 2016USD ($) | Jun. 28, 2016USD ($) | Mar. 29, 2016USD ($) | Dec. 29, 2015USD ($)Store | Sep. 29, 2015USD ($)Store | Jun. 30, 2015USD ($)Store | Mar. 31, 2015USD ($)Store | Jan. 03, 2017USD ($)Store | Dec. 29, 2015USD ($)Store | Dec. 30, 2014USD ($) | Apr. 28, 2015 | |
Unaudited Quarterly Financial Information [Line Items] | ||||||||||||
Store lease termination and closure expense | $ | $ 3,918 | $ 178 | $ (56) | $ 120 | $ 1,400 | $ 207 | $ 40 | $ 22 | $ 4,160 | $ 1,669 | $ 575 | |
Impairment loss | $ | $ 3,054 | $ 229 | $ 127 | $ 321 | $ 1,907 | $ 295 | $ 0 | $ 3,410 | $ 2,523 | $ 175 | ||
Number of stores sold | Store | 1 | 14 | 110 | 49 | 4 | |||||||
Number of stores acquired | Store | 2 | |||||||||||
Number of stores | Store | 66 | 70 | 66 | 70 | ||||||||
Jamba Juice Southern California, LLC [Member] | ||||||||||||
Unaudited Quarterly Financial Information [Line Items] | ||||||||||||
Noncontrolling interest, ownership percentage by parent | 88.00% | |||||||||||
Jamba GO [Member] | ||||||||||||
Unaudited Quarterly Financial Information [Line Items] | ||||||||||||
Store lease termination and closure expense | $ | $ 2,300 | |||||||||||
Impairment loss | $ | $ 3,400 | |||||||||||
Franchise and International [Member] | ||||||||||||
Unaudited Quarterly Financial Information [Line Items] | ||||||||||||
Number of stores | Store | 843 | 823 | 843 | 823 |
Unaudited Quarterly Informati84
Unaudited Quarterly Information - Schedule of Details Specific Amounts of Out-of-period (Overstatements)/Understatements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 03, 2017 | Sep. 27, 2016 | Jun. 28, 2016 | Mar. 29, 2016 | Dec. 29, 2015 | Sep. 29, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | Jan. 01, 2013 | |
Quantifying Misstatement In Current Year Financial Statements [Line Items] | ||||||||||||
Total revenue | $ 17,268 | $ 22,061 | $ 21,540 | $ 18,754 | $ 19,549 | $ 35,497 | $ 54,126 | $ 52,504 | $ 79,623 | $ 161,676 | $ 218,048 | |
Total costs, operating expenses and gain | 32,216 | 24,033 | 24,088 | 21,454 | 27,389 | 22,196 | 47,665 | 54,172 | 101,791 | 151,422 | 221,348 | |
(Loss) income from operations | (14,948) | (1,972) | (2,548) | (2,700) | (7,840) | 13,301 | 6,461 | (1,668) | (22,168) | 10,254 | (3,300) | |
Total other expense, net | (215) | (1) | 15 | 12 | 1 | (4) | (54) | (26) | (189) | (83) | (121) | |
(Loss) income before income taxes | (15,163) | (1,973) | (2,533) | (2,688) | (7,839) | 13,297 | 6,407 | (1,694) | (22,357) | 10,171 | (3,421) | |
Income tax (expense) benefit | (10) | 9 | 54 | (132) | (424) | (194) | (57) | (26) | (79) | (701) | (168) | |
Net (loss) income | $ (15,173) | $ (1,964) | $ (2,479) | $ (2,820) | $ (8,263) | $ 13,103 | $ 6,350 | $ (1,720) | $ (22,436) | $ 9,470 | $ (3,589) | |
Earnings (loss) per share attributable to Jamba, Inc. common shareholders: | ||||||||||||
Basic | $ (0.99) | $ (0.13) | $ (0.16) | $ (0.19) | $ (0.55) | $ 0.83 | $ 0.39 | $ (0.11) | $ (1.47) | $ 0.60 | $ (0.21) | |
Diluted | $ (0.99) | $ (0.13) | $ (0.16) | $ (0.19) | $ (0.55) | $ 0.81 | $ 0.38 | $ (0.11) | $ (1.47) | $ 0.58 | $ (0.21) | |
Immaterial Prior Period Adjustment [Member] | ||||||||||||
Quantifying Misstatement In Current Year Financial Statements [Line Items] | ||||||||||||
Total revenue | $ 151 | $ (18) | $ (202) | $ 4 | $ (65) | $ (3) | $ 33 | $ 35 | ||||
Total costs, operating expenses and gain | (596) | 105 | 490 | (892) | (893) | 624 | 622 | (353) | ||||
(Loss) income from operations | 747 | (124) | (692) | 896 | 828 | (627) | (589) | 388 | ||||
(Loss) income before income taxes | 747 | (124) | (692) | 896 | 828 | (627) | (589) | 388 | ||||
Income tax (expense) benefit | (1) | 2 | 14 | (45) | $ (30) | $ 44 | $ 29 | $ (10) | ||||
Net (loss) income | $ 746 | $ (122) | $ (678) | $ 851 | ||||||||
Earnings (loss) per share attributable to Jamba, Inc. common shareholders: | ||||||||||||
Basic | $ 0.05 | $ (0.01) | $ (0.04) | $ 0.06 | ||||||||
Diluted | $ 0.05 | $ (0.01) | $ (0.04) | $ 0.06 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Jan. 02, 2018USD ($) | Jun. 27, 2017USD ($)Store | Apr. 04, 2017USD ($) | Dec. 29, 2015USD ($)Store | Jan. 03, 2017Store | Nov. 30, 2014Store | |
Subsequent Event [Line Items] | ||||||
Severance costs | $ 0.8 | |||||
Number of stores | Store | 70 | 66 | ||||
Refranchise [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Number of stores | Store | 179 | 114 | ||||
Subsequent Event [Member] | Chicago [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Number of units developed | Store | 10 | |||||
Unit development cost | $ 0.2 | |||||
Subsequent Event [Member] | Refranchise [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Number of stores | Store | 13 | |||||
Employee Severance [Member] | Other Senior Executives [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Severance costs | $ 0.6 | |||||
Employee Severance [Member] | Other Senior Executives [Member] | Subsequent Event [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Severance costs | $ 0.6 | |||||
Employee Severance [Member] | Scenario, Forecast [Member] | Other Senior Executives [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Severance costs | $ 0.3 |
Schedule II - Valuation and Q86
Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 03, 2017 | Dec. 29, 2015 | Dec. 30, 2014 | |
Valuation And Qualifying Accounts Disclosure [Line Items] | |||
Balance at the Beginning of the Period | $ 618 | $ 280 | $ 291 |
Charged to Expenses | 1,560 | 741 | 54 |
Deductions | (370) | (403) | (65) |
Balance at the End of the Period | $ 1,808 | $ 618 | $ 280 |