Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 20, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'Lumber Liquidators Holdings, Inc. | ' |
Entity Central Index Key | '0001396033 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Trading Symbol | 'LL | ' |
Entity Common Stock, Shares Outstanding | ' | 27,060,764 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and Cash Equivalents | $10,788 | $80,634 |
Merchandise Inventories | 288,827 | 252,428 |
Prepaid Expenses | 6,058 | 6,229 |
Other Current Assets | 17,025 | 12,916 |
Total Current Assets | 322,698 | 352,207 |
Property and Equipment, net | 118,506 | 65,947 |
Goodwill | 9,693 | 9,693 |
Other Assets | 1,637 | 1,712 |
Total Assets | 452,534 | 429,559 |
Current Liabilities: | ' | ' |
Accounts Payable | 56,243 | 56,327 |
Customer Deposits and Store Credits | 33,186 | 22,377 |
Accrued Compensation | 4,727 | 11,709 |
Sales and Income Tax Liabilities | 5,356 | 4,878 |
Other Current Liabilities | 24,488 | 11,709 |
Total Current Liabilities | 124,000 | 107,000 |
Deferred Rent | 6,243 | 4,169 |
Deferred Tax Liability | 9,065 | 9,061 |
Stockholders' Equity: | ' | ' |
Common Stock ($0.001 par value; 35,000,000 shares authorized; 27,057,543 and 27,557,570 shares outstanding, respectively) | 30 | 30 |
Treasury Stock, at cost (2,815,908 and 2,133,307 shares, respectively) | -138,645 | -85,382 |
Additional Capital | 175,558 | 164,581 |
Retained Earnings | 276,688 | 230,662 |
Accumulated Other Comprehensive Loss | -405 | -562 |
Total Stockholders' Equity | 313,226 | 309,329 |
Total Liabilities and Stockholders' Equity | $452,534 | $429,559 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares authorized | 35,000,000 | 35,000,000 |
Common Stock, shares outstanding | 27,057,543 | 27,557,570 |
Treasury Stock, shares | 2,815,908 | 2,133,307 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net Sales | $266,067 | $254,278 | $775,443 | $741,807 |
Cost of Sales | 161,909 | 147,903 | 463,760 | 436,356 |
Gross Profit | 104,158 | 106,375 | 311,683 | 305,451 |
Selling, General and Administrative Expenses | 78,377 | 73,108 | 236,309 | 213,690 |
Operating Income | 25,781 | 33,267 | 75,374 | 91,761 |
Other (Income) Expense | 82 | -64 | 246 | -425 |
Income Before Income Taxes | 25,699 | 33,331 | 75,128 | 92,186 |
Provision for Income Taxes | 9,974 | 12,932 | 29,102 | 35,586 |
Net Income | $15,725 | $20,399 | $46,026 | $56,600 |
Net Income per Common ShareBBasic | $0.58 | $0.74 | $1.68 | $2.06 |
Net Income per Common ShareBDiluted | $0.58 | $0.73 | $1.67 | $2.03 |
Weighted Average Common Shares Outstanding: | ' | ' | ' | ' |
Basic | 27,096,229 | 27,594,573 | 27,332,418 | 27,448,441 |
Diluted | 27,270,997 | 27,954,115 | 27,569,800 | 27,905,131 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Other Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net Income | $15,725 | $20,399 | $46,026 | $56,600 |
Foreign Currency Translation Adjustments | -234 | 268 | 157 | -425 |
Comprehensive Income | $15,491 | $20,667 | $46,183 | $56,175 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash Flows from Operating Activities: | ' | ' |
Net Income | $46,026 | $56,600 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ' | ' |
Depreciation and Amortization | 10,846 | 8,503 |
Stock-Based Compensation Expense | 4,040 | 4,168 |
Changes in Operating Assets and Liabilities: | ' | ' |
Merchandise Inventories | -36,557 | -30,704 |
Accounts Payable | -717 | -17,622 |
Customer Deposits and Store Credits | 10,841 | 6,754 |
Prepaid Expenses and Other Current Assets | -2,374 | -3,991 |
Other Assets and Liabilities | 329 | 12,994 |
Net Cash Provided by Operating Activities | 32,434 | 36,702 |
Cash Flows from Investing Activities: | ' | ' |
Purchases of Property and Equipment | -56,214 | -17,261 |
Net Cash Used in Investing Activities | -56,214 | -17,261 |
Cash Flows from Financing Activities: | ' | ' |
Payments for Stock Repurchases | -53,263 | -24,609 |
Proceeds from the Exercise of Stock Options | 2,938 | 9,796 |
Excess Tax Benefit from Stock-Based Compensation | 3,747 | 15,711 |
Borrowings on Revolving Credit Facility | 26,000 | 0 |
Payments on Revolving Credit Facility | -26,000 | 0 |
Net Cash (Used in) Provided by Financing Activities | -46,578 | 898 |
Effect of Exchange Rates on Cash and Cash Equivalents | 512 | -312 |
Net (Decrease) Increase in Cash and Cash Equivalents | -69,846 | 20,027 |
Cash and Cash Equivalents, Beginning of Period | 80,634 | 64,167 |
Cash and Cash Equivalents, End of Period | $10,788 | $84,194 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
Note 1. Basis of Presentation | |
Lumber Liquidators Holdings, Inc. and its direct and indirect subsidiaries (collectively and, where applicable, individually, the “Company”) engage in business as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories, operating as a single business segment. The Company offers an extensive assortment of exotic and domestic hardwood species, engineered hardwood, laminate and vinyl plank flooring direct to the consumer. The Company also features the renewable flooring products, bamboo and cork, and provides a wide selection of flooring enhancements and accessories, including moldings, noise-reducing underlay, adhesives and flooring tools. These products are primarily sold under the Company’s private label brands, including the premium Bellawood brand floors. The Company sells primarily to homeowners or to contractors on behalf of homeowners through a network of 340 store locations in primary or secondary metropolitan areas in 46 states and nine store locations in Canada at September 30, 2014. In addition to the store locations, the Company’s products may be ordered, and customer questions/concerns addressed, through both its call center in Toano, Virginia, and its website, www.lumberliquidators.com. The Company finishes the majority of the Bellawood products on its finishing line in Toano, Virginia, which along with the call center, corporate offices, and a distribution center, represent the “Corporate Headquarters.” | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the Securities and Exchange Commission. While these statements reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair presentation of the results of the interim period, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. Therefore, the interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s annual report filed on Form 10-K for the year ended December 31, 2013. | |
The consolidated financial statements of the Company include the accounts of its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. | |
Results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for the full year. | |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value of Financial Instruments | ' |
Note 2. Fair Value of Financial Instruments | |
The carrying amounts of financial instruments such as cash and cash equivalents, accounts payable and other liabilities approximate fair value because of the short-term nature of these items. Of these financial instruments, the cash equivalents are classified as Level 1 as defined in the Financial Accounting Standards Board (“FASB”) ASC 820 fair value hierarchy. The Company had cash equivalents of nil and $170 at September 30, 2014 and December 31, 2013, respectively. | |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Equity [Abstract] | ' | |||||||||||||
Stockholders' Equity | ' | |||||||||||||
Note 3. Stockholders’ Equity | ||||||||||||||
Net Income per Common Share | ||||||||||||||
The following table sets forth the computation of basic and diluted net income per common share: | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Income | $ | 15,725 | $ | 20,399 | $ | 46,026 | $ | 56,600 | ||||||
Weighted Average Common Shares Outstanding—Basic | 27,096,229 | 27,594,573 | 27,332,418 | 27,448,441 | ||||||||||
Effect of Dilutive Securities: | ||||||||||||||
Common Stock Equivalents | 174,768 | 359,542 | 237,382 | 456,690 | ||||||||||
Weighted Average Common Shares Outstanding—Diluted | 27,270,997 | 27,954,115 | 27,569,800 | 27,905,131 | ||||||||||
Net Income per Common Share—Basic | $ | 0.58 | $ | 0.74 | $ | 1.68 | $ | 2.06 | ||||||
Net Income per Common Share—Diluted | $ | 0.58 | $ | 0.73 | $ | 1.67 | $ | 2.03 | ||||||
The following have been excluded from the computation of Weighted Average Common Shares Outstanding—Diluted because the effect would be anti-dilutive: | ||||||||||||||
Three and Nine Months Ended September 30, | ||||||||||||||
2014 | 2013 | |||||||||||||
Stock Options | 265,804 | 12,399 | ||||||||||||
Restricted Stock Awards | 20,961 | — | ||||||||||||
Stock Repurchase Program | ||||||||||||||
In January 2014, the Company’s board of directors authorized the repurchase of up to an additional $50,000 of the Company’s common stock, bringing the total authorization to $150,000. At September 30, 2014, the Company had $14,728 remaining under this authorization. Purchases under this program were as follows: | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Shares Repurchased | 257,000 | 109,900 | 671,200 | 306,430 | ||||||||||
Average Price per Share | $ | 57.24 | $ | 89.6 | $ | 77.68 | $ | 78.27 | ||||||
Total Aggregate Costs | $ | 14,711 | $ | 9,847 | $ | 52,138 | $ | 23,986 | ||||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Stock-Based Compensation | ' | |||||||
Note 4. Stock-Based Compensation | ||||||||
The following table summarizes share activity related to stock options and restricted stock awards (“RSAs”): | ||||||||
Stock Options | Restricted Stock | |||||||
Awards | ||||||||
Options Outstanding/Nonvested RSAs, December 31, 2013 | 749,490 | 178,335 | ||||||
Granted | 72,354 | 35,769 | ||||||
Options Exercised/RSAs Released | -142,420 | -43,068 | ||||||
Forfeited | -23,836 | -10,869 | ||||||
Options Outstanding/Nonvested RSAs, September 30, 2014 | 655,588 | 160,167 | ||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||||
Related Party Transactions | ' | |||||||||||||
Note 5. Related Party Transactions | ||||||||||||||
As of both September 30, 2014 and 2013, the Company leased 29 of its locations and the Corporate Headquarters, which includes a store location, representing 8.6% and 9.8% of the total number of store leases in operation, respectively, from entities controlled by the Company’s founder and current chairman of the board (“Controlled Companies”). Rental expense related to Controlled Companies was as follows: | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Rental expense related to Controlled Companies | $ | 721 | $ | 726 | $ | 2,213 | $ | 2,237 | ||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 6. Commitments and Contingencies | |
On August 30, 2012, Jaroslaw Prusak, a purported customer (“Prusak”), filed a putative class action lawsuit, which was subsequently amended, against the Company in the United States District Court for the Northern District of Illinois (the “Prusak Lawsuit”). Prusak alleges that the Company willfully violated the Fair and Accurate Credit Transactions Act amendments to the Fair Credit Reporting Act in connection with electronically printed credit card receipts provided to certain of its customers. In the operative complaint, Prusak, for himself and the putative class, seeks statutory damages of no less than one hundred dollars and no more than one thousand dollars per violation, punitive damages, attorney’s fees and costs, and other relief. Prusak filed a motion seeking certification of the putative class and the parties each filed motions seeking summary judgment with regard to matters at issue in the case. Although the Company believes it has valid defenses to the claims asserted, the Company has agreed to a proposed settlement of the claims in the lawsuit, which the court has preliminarily approved. Under the proposed settlement agreement, the Company would pay the plaintiffs’ attorneys’ fees, a sum to Prusak and either a cash sum or voucher to members of the putative class. Based upon the actual response rate received from the putative class members, the Company has accrued $755, including $255 in the third quarter of 2014, as the best estimate of the probable loss that may result from this action. In the event the court does not grant final approval of the proposed settlement, the Company intends to continue to defend the Prusak Lawsuit vigorously and will assess the possibility of any loss at that time. | |
On or about November 26, 2013, Gregg Kiken (“Kiken”) filed a securities class action lawsuit, which was subsequently amended, in the United States District Court for the Eastern District of Virginia against the Company, its founder, Chief Executive Officer and President, Chief Financial Officer and Chief Merchandising Officer (collectively, the “Kiken Defendants”). In the amended complaint, Kiken and an additional plaintiff, Keith Foster (together with Kiken, the “Plaintiffs”), allege that the Kiken Defendants made material false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. In particular, the Plaintiffs allege that the Kiken Defendants made material misstatements or omissions related to the Company’s compliance with the federal Lacey Act and the chemical content of certain of its wood products. In addition to attorneys’ fees and costs, the Plaintiffs seek to recover damages on behalf of themselves and other persons who purchased or otherwise acquired the Company’s stock during the putative class period at allegedly inflated prices and purportedly suffered financial harm as a result. The Company disputes the Plaintiffs’ claims and intends to defend the matter vigorously. Given the uncertainty of litigation, the preliminary stage of the case, insurance coverage issues and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from this action. | |
On or about March 4, 2014, Richard Wade Architects, P.C. (“RWA”) filed a lawsuit in the United States District Court for the Northern District of Illinois (the “RWA Lawsuit”), which was subsequently amended, alleging that Lumber Liquidators violated the Telephone Consumer Protection Act (“TCPA”), the Illinois Consumer Fraud Act and the common law by sending an unsolicited facsimile advertisement to RWA. RWA seeks recourse on its own behalf as well as other similarly situated parties that received unsolicited facsimile advertisements from the Company. The TCPA provides for recovery of actual damages or five hundred dollars for each violation, whichever is greater. If it is determined that a defendant acted willfully or knowingly in violating the TCPA, the amount of the award may be increased by up to three times the amount provided above. Although the Company believes it has valid defenses to the claims asserted, based upon the proceedings to date, the Company has recorded an accrual of approximately $275 in the third quarter of 2014 as its best estimate of the probable loss that may result from this action. Given the uncertainty of litigation, the preliminary stage of the RWA Lawsuit and the legal standards that must be met for, among other things, class certification, the Company cannot estimate any reasonably possible loss or range of loss in excess of the amount accrued that may result from the RWA Lawsuit. | |
On or about July 23, 2014, Global Community Monitor and Sunshine Park LLC (together, the “Prop 65 Plaintiffs”) filed a lawsuit in the Superior Court of the State of California, County of Alameda, against the Company. In the complaint, the Prop 65 Plaintiffs allege that the Company violated California’s Safe Drinking Water and Toxic Enforcement Act of 1986, Health and Safety Code section 25249.5, et seq. (“Proposition 65”). In particular, the Prop 65 Plaintiffs allege that the Company failed to warn consumers in California that certain of the Company’s products (collectively, the “Products”) emit formaldehyde in excess of the applicable safe harbor limits. In addition to attorneys’ fees and costs, the Prop 65 Plaintiffs seek (i) equitable relief involving the reformulation of the Products, additional warnings related to the Products, the issuance of notices to certain of the purchasers of the Products (the “Customers”) and the waiver of restocking fees for Customers who return the Products and (ii) civil penalties in the amount of two thousand five hundred dollars per day for each violation of Proposition 65. In a notice letter dated September 22, 2014, the Prop 65 Plaintiffs have indicated, among other things, an intention to expand the scope of products at issue in this matter. The Company disputes the claims of the Prop 65 Plaintiffs and intends to defend the matter vigorously. Further, the Company has filed a counterclaim against the Prop 65 Plaintiffs for trade libel, unfair business practices, intentional interference with a prospective business advantage, negligent interference with economic relations, and declaratory relief. Given the uncertainty of litigation, the preliminary stage of the case, and the legal standards that must be met for, among other things, success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from this action. | |
On or about September 17, 2014, the City of Hallandale Beach Police Officers’ and Firefighters’ Personnel Retirement Trust (“Hallandale”) filed a securities class action lawsuit in the United States District Court for the Eastern District of Virginia against the Company, its Chief Executive Officer and President and its Chief Financial Officer (collectively, the “Hallandale Defendants”). In the complaint, Hallandale alleges that the Hallandale Defendants made material false and/or misleading statements that caused losses to investors. In particular, Hallandale alleges that the Hallandale Defendants made material misstatements or omissions regarding the Company’s supply chain and inventory position. In addition to attorneys’ fees and costs, Hallandale seeks to recover damages on behalf of itself and other persons who purchased or otherwise acquired the Company’s stock during the putative class period at allegedly inflated prices and purportedly suffered financial harm as a result. The Company disputes Hallandale’s claims and intends to defend the matter vigorously. Given the uncertainty of litigation, the preliminary stage of the case, insurance coverage issues and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss that may result from this action. | |
The Company is also, from time to time, subject to claims and disputes arising in the normal course of business. In the opinion of management, while the outcome of any such claims and disputes cannot be predicted with certainty, the Company’s ultimate liability in connection with these matters is not expected to have a material adverse effect on the results of operations, financial position or cash flows. | |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Equity [Abstract] | ' | |||||||||||||
Computation of Basic and Diluted Net Income Per Common Share | ' | |||||||||||||
The following table sets forth the computation of basic and diluted net income per common share: | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Income | $ | 15,725 | $ | 20,399 | $ | 46,026 | $ | 56,600 | ||||||
Weighted Average Common Shares Outstanding—Basic | 27,096,229 | 27,594,573 | 27,332,418 | 27,448,441 | ||||||||||
Effect of Dilutive Securities: | ||||||||||||||
Common Stock Equivalents | 174,768 | 359,542 | 237,382 | 456,690 | ||||||||||
Weighted Average Common Shares Outstanding—Diluted | 27,270,997 | 27,954,115 | 27,569,800 | 27,905,131 | ||||||||||
Net Income per Common Share—Basic | $ | 0.58 | $ | 0.74 | $ | 1.68 | $ | 2.06 | ||||||
Net Income per Common Share—Diluted | $ | 0.58 | $ | 0.73 | $ | 1.67 | $ | 2.03 | ||||||
Anti-Dilutive Securities Excluded from Computation of Weighted Average Common Shares Outstanding Diluted | ' | |||||||||||||
The following have been excluded from the computation of Weighted Average Common Shares Outstanding—Diluted because the effect would be anti-dilutive: | ||||||||||||||
Three and Nine Months Ended September 30, | ||||||||||||||
2014 | 2013 | |||||||||||||
Stock Options | 265,804 | 12,399 | ||||||||||||
Restricted Stock Awards | 20,961 | — | ||||||||||||
Purchases under Stock Repurchase Program | ' | |||||||||||||
Purchases under this program were as follows: | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Shares Repurchased | 257,000 | 109,900 | 671,200 | 306,430 | ||||||||||
Average Price per Share | $ | 57.24 | $ | 89.6 | $ | 77.68 | $ | 78.27 | ||||||
Total Aggregate Costs | $ | 14,711 | $ | 9,847 | $ | 52,138 | $ | 23,986 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Summary of Activity Related to Stock Options and Restricted Stock Awards | ' | |||||||
The following table summarizes share activity related to stock options and restricted stock awards (“RSAs”): | ||||||||
Stock Options | Restricted Stock | |||||||
Awards | ||||||||
Options Outstanding/Nonvested RSAs, December 31, 2013 | 749,490 | 178,335 | ||||||
Granted | 72,354 | 35,769 | ||||||
Options Exercised/RSAs Released | -142,420 | -43,068 | ||||||
Forfeited | -23,836 | -10,869 | ||||||
Options Outstanding/Nonvested RSAs, September 30, 2014 | 655,588 | 160,167 | ||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||||
Rental Expense Related to Controlled Companies | ' | |||||||||||||
Rental expense related to Controlled Companies was as follows: | ||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Rental expense related to Controlled Companies | $ | 721 | $ | 726 | $ | 2,213 | $ | 2,237 | ||||||
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) | Sep. 30, 2014 |
Organization And Business Operations [Line Items] | ' |
Number of states in which stores operates | 46 |
CANADA | ' |
Organization And Business Operations [Line Items] | ' |
Number of stores | 9 |
UNITED STATES | ' |
Organization And Business Operations [Line Items] | ' |
Number of stores | 340 |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and Cash Equivalents [Line Items] | ' | ' |
Cash equivalents | ' | $170 |
Computation_of_Basic_and_Dilut
Computation of Basic and Diluted Net Income Per Common Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items] | ' | ' | ' | ' |
Net Income | $15,725 | $20,399 | $46,026 | $56,600 |
Weighted Average Common Shares OutstandingBBasic | 27,096,229 | 27,594,573 | 27,332,418 | 27,448,441 |
Effect of Dilutive Securities: | ' | ' | ' | ' |
Common Stock Equivalents | 174,768 | 359,542 | 237,382 | 456,690 |
Weighted Average Common Shares OutstandingBDiluted | 27,270,997 | 27,954,115 | 27,569,800 | 27,905,131 |
Net Income per Common ShareBBasic | $0.58 | $0.74 | $1.68 | $2.06 |
Net Income per Common ShareBDiluted | $0.58 | $0.73 | $1.67 | $2.03 |
AntiDilutive_Securities_Exclud
Anti-Dilutive Securities Excluded from Computation of Weighted Average Common Shares Outstanding-Diluted (Detail) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Stock Options | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities excluded from computation of earning per share | 265,804 | 12,399 |
Restricted Stock Awards | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities excluded from computation of earning per share | 20,961 | 0 |
Purchases_under_Stock_Repurcha
Purchases under Stock Repurchase Program (Detail) (Stock Repurchase Program, USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Stock Repurchase Program | ' | ' | ' | ' |
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' |
Shares Repurchased | 257,000 | 109,900 | 671,200 | 306,430 |
Average Price per Share | $57.24 | $89.60 | $77.68 | $78.27 |
Total Aggregate Costs | $14,711 | $9,847 | $52,138 | $23,986 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (Stock Repurchase Program, USD $) | 1 Months Ended | |
In Thousands, unless otherwise specified | Jan. 31, 2014 | Sep. 30, 2014 |
Stock Repurchase Program | ' | ' |
Stock Repurchase Programs [Line Items] | ' | ' |
Common stock repurchased, additional authorized amount | $50,000 | ' |
Stock repurchase program, authorized amount | 150,000 | ' |
Common stock repurchased, remaining authorized amount | ' | $14,728 |
Summarizes_Share_Activity_Rela
Summarizes Share Activity Related to Stock Options and Restricted Stock Awards (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 749,490 |
Granted | 72,354 |
Options Exercised/RSAs Released | -142,420 |
Forfeited | -23,836 |
Ending Balance | 655,588 |
Restricted Stock Awards | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 178,335 |
Granted | 35,769 |
Options Exercised/RSAs Released | -43,068 |
Forfeited | -10,869 |
Ending Balance | 160,167 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (Controlled Companies) | Sep. 30, 2014 | Sep. 30, 2013 |
Controlled Companies | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Number of leased stores | 29 | 29 |
Percentage of store lease in operation | 8.60% | 9.80% |
Rental_Expense_Related_to_Cont
Rental Expense Related to Controlled Companies (Detail) (Controlled Companies, USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Controlled Companies | ' | ' | ' | ' |
Operating Leased Assets [Line Items] | ' | ' | ' | ' |
Rental expense related to Controlled Companies | $721 | $726 | $2,213 | $2,237 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Telephone Consumer Protection Act Lawsuit | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Estimate of Possible Loss | $275 |
Fair and Accurate Credit Transactions Act | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Estimate of Possible Loss | 755 |
Loss Contingency, Loss in Period | $255 |