FoodFirst Global Restaurants (BBRG) 10-Q 2 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 25, 2016	Nov. 02, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Bravo Brio Restaurant Group, Inc.
Trading Symbol	BBRG
Entity Central Index Key	1,495,479
Current Fiscal Year End Date	--12-25
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 25, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		14,726,005

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 25, 2016	Dec. 27, 2015
Current assets
Cash and cash equivalents	$ 388	$ 447
Accounts receivable	6,481	9,617
Tenant improvement allowance receivable	901	286
Inventories	2,712	3,163
Prepaid expenses and other current assets	1,053	1,859
Total current assets	11,535	15,372
Property and equipment — net	162,477	170,463
Deferred income taxes — net	59,560	58,054
Other assets — net	4,081	4,171
Total assets	237,653	248,060
Current liabilities
Trade and construction payables	13,279	16,283
Accrued expenses	25,347	28,869
Debt, Current	4,000	0
Deferred lease incentives	7,228	7,230
Deferred gift card revenue	11,147	14,728
Total current liabilities	61,001	67,110
Deferred lease incentives	55,583	59,553
Long-term debt	47,000	43,300
Other long-term liabilities	23,119	23,273
Commitments and contingencies (Note 6)
Stockholders’ equity
Common shares, no par value per share— authorized 100,000,000 shares; 20,290,695 shares issued at September 27, 2015 and 20,177,174 shares issued at December 28, 2014	201,717	200,739
Preferred shares, no par value per share— authorized 5,000,000 shares; issued and outstanding, 0 shares at September 27, 2015 and December 28, 2014	0	0
Treasury shares, 5,083,281 shares at September 27, 2015 and December 28, 2014	(81,019)	(77,558)
Retained deficit	(69,748)	(68,357)
Total stockholders’ equity	50,950	54,824
Total liabilities and stockholders’ equity	$ 237,653	$ 248,060

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 25, 2016	Dec. 27, 2015
Common shares, par value	$ 0	$ 0
Common shares, share authorized	100,000,000	100,000,000
Common shares, share issued	20,656,917	20,293,296
Preferred shares, par value	$ 0	$ 0
Preferred shares, shares authorized	5,000,000	5,000,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Treasury shares, shares	5,977,860	5,534,308

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Revenues	$ 94,588	$ 98,294	$ 308,601	$ 316,709
Costs and expenses
Cost of sales	25,265	24,463	80,507	79,905
Labor	36,938	36,274	115,954	114,271
Operating	16,432	16,905	51,626	52,445
Occupancy	8,036	7,913	23,622	24,012
General and administrative expenses	6,896	5,401	20,141	17,231
Restaurant preopening costs	107	628	621	2,383
Asset Impairment Charges	0	0	1,249	0
Depreciation and amortization	5,600	5,637	16,680	16,532
Total costs and expenses	99,274	97,221	310,400	306,779
Income from operations	(4,686)	1,073	(1,799)	9,930
Interest expense, net	406	353	1,098	1,142
Income before income taxes	(5,092)	720	(2,897)	8,788
Income tax expense (benefit)	(2,107)	(190)	(1,506)	1,506
Net income	$ (2,985)	$ 910	$ (1,391)	$ 7,282
Net income per basic share	$ (0.20)	$ 0.06	$ (0.09)	$ 0.48
Net income per diluted share	$ (0.20)	$ 0.06	$ (0.09)	$ 0.46
Weighted average shares outstanding-basic	14,582,000	15,202,000	14,648,000	15,174,000
Weighted average shares outstanding-diluted	14,582,000	15,948,000	14,648,000	15,917,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 25, 2016 - USD ($) $ in Thousands	Total	Common Shares	Retained Deficit	Treasury Stock
Beginning balance (in shares) at Dec. 27, 2015		20,293,296		(5,534,308)
Beginning balance at Dec. 27, 2015	$ 54,824	$ 200,739	$ (68,357)	$ (77,558)
Net income	(1,391)		(1,391)
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	864	$ 864
Treasury Stock, Shares, Acquired				(443,552)
Treasury Stock, Value, Acquired, Cost Method	(3,461)			$ (3,461)
Proceeds from the exercise of stock options, shares		308,215
Proceeds from the exercise of stock options	445	$ 445
Issuance of shares of restricted stock (in shares)		81,502
Issuance of shares of restricted stock	0	$ 0
Excess tax deficiency from share based payments, net	(146)	$ (146)
Shares Paid for Tax Withholding for Share Based Compensation		26,096
Payments Related to Tax Withholding for Share-based Compensation	185	$ 185
Ending balance (in shares) at Sep. 25, 2016		20,656,917		(5,977,860)
Ending balance at Sep. 25, 2016	$ 50,950	$ 201,717	$ (69,748)	$ (81,019)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015
Cash flows from operating activities:
Net income	$ (1,391)	$ 7,282
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,744	16,594
Loss on disposals of property and equipment	695	539
Asset Impairment Charges	1,249	0
Amortization of deferred lease incentives	(6,026)	(5,404)
Share-based Compensation	864	1,147
Deferred income taxes	(1,506)	280
Changes in assets and liabilities:
Accounts and tenant improvement allowance receivables	2,521	684
Inventories	451	429
Prepaid expenses and other current assets	806	967
Trade and construction payables	(1,994)	844
Deferred lease incentives	2,054	6,802
Deferred gift card revenue	(3,581)	(3,507)
Other accrued expenses	(3,668)	(2,321)
Other — net	(147)	265
Net cash provided by operating activities	7,071	24,601
Cash flows from investing activities:
Purchase of property and equipment	(11,629)	(19,809)
Net cash used in investing activities	(11,629)	(19,809)
Cash flows from financing activities:
Proceeds from Issuance of Debt	489,100	484,400
Payments on long-term debt	(481,400)	(488,900)
Proceeds from the exercise of stock options	445	66
Shares withheld from restricted stock vesting for minimum tax withholdings	(185)	(406)
Repurchase of treasury shares	(3,461)	0
Net cash used in financing activities	4,499	(4,840)
Net decrease in cash and cash equivalents	(59)	(48)
Cash and cash equivalents — beginning of period	447	427
Cash and cash equivalents — end of period	388	379
Supplemental disclosures of cash flow information:
Interest paid	925	990
Income taxes paid	458	740
Property financed by trade and construction payables	$ 880	$ 1,381

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 25, 2016
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Description of Business — As of September 25, 2016 , Bravo Brio Restaurant Group, Inc. (the “Company”) operated 116 restaurants under the trade names “Bravo! Cucina Italiana ® ,” “Brio Tuscan Grille ™ ,” and “Bon Vie ® .” Of the 116 restaurants the Company operates, there are 51 Bravo! Cucina Italiana ® restaurants, 64 Brio Tuscan Grille ™ restaurants and one Bon Vie ® restaurant in operation in 33 states throughout the United States of America. The Company owns all of its restaurants with the exception of one Brio Tuscan Grille ™ restaurant, which it operates under a management agreement and for which operation it receives a management fee. Additionally, one Brio Tuscan Grille ™ restaurant is operated under a franchise agreement. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, they do not include all the information and disclosures required by GAAP for complete financial statements. The operating results included herein are not necessarily indicative of results for any other interim period or for the full fiscal year. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances at the time. Actual amounts may differ from those estimates. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to applicable rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, the unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation. These unaudited consolidated financial statements and related condensed notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 27, 2015 filed with the SEC on February 29, 2016 (the “ 2015 Annual Report on Form 10-K”). Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) . This ASU provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. The pronouncement is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. This ASU permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements as well as the expected adoption method. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) . This ASU requires an entity to present term debt issuance costs on the balance sheet as a direct deduction from the related term debt liability as opposed to an asset. Amortization of the costs will continue to be reported as interest expense. This ASU is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2015. The Company adopted this ASU during the thirteen weeks ended March 27, 2016. The adoption of this ASU did not have a material impact on its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory: Simplifying the Measurement of Inventory (Topic 330) . This ASU provides guidance on the subsequent measurement of inventory, which changes the measurement from lower of cost or market to lower of cost and net realizable value. This update defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation and is effective for annual and interim periods beginning after December 15, 2016. The adoption of this ASU is not expected to have a material impact on the Company's consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740) . This ASU requires all deferred tax assets and liabilities, and any related valuation allowance, to be classified as noncurrent on the balance sheet. This ASU simplifies the current standard, which requires entities to separately present deferred tax assets and liabilities as current and noncurrent in a classified balance sheet. This ASU is effective for annual reporting periods beginning on or after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities and the Company elected to apply this ASU during the thirteen weeks ended March 27, 2016 on a retrospective basis. Accordingly, the Company classified all deferred income taxes as noncurrent as of September 25, 2016 and reclassified $3.6 million of current deferred income taxes to noncurrent deferred income taxes as of December 27, 2015. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . This ASU requires organizations to recognize lease assets and lease liabilities on the balance sheet and also disclose key information about leasing arrangements. This ASU is effective for annual reporting periods beginning on or after December 15, 2018, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual period. As of September 25, 2016 , the Company has not adopted this ASU. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718) . This ASU is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for annual reporting periods beginning on or after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual period. As of September 25, 2016 , the Company has not adopted this ASU. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

NET INCOME PER SHARE

NET INCOME PER SHARE	9 Months Ended
	Sep. 25, 2016
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Basic earnings per share (EPS) data is computed based on weighted average common shares outstanding during the period. Diluted EPS data is computed based on weighted average common shares outstanding, including all potentially issuable common shares. (in thousands, except per share data) Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25, September 27, September 25, September 27, Net (loss) income $ (2,985 ) $ 910 $ (1,391 ) $ 7,282 Weighted average common shares outstanding 14,582 15,202 14,648 15,174 Effect of dilutive securities: Stock options — 709 — 726 Restricted stock — 37 — 17 Weighted average common and potentially issuable common shares outstanding—diluted 14,582 15,948 14,648 15,917 Basic net (loss) income per common share $ (0.20 ) $ 0.06 $ (0.09 ) $ 0.48 Diluted net (loss) income per common share $ (0.20 ) $ 0.06 $ (0.09 ) $ 0.46 Shares of common stock equivalents of 806,286 were excluded from the diluted calculation for the thirteen and thirty-nine weeks ended September 25, 2016 due to a net loss during each respective period. Shares of common stock equivalents of 18,000 and 29,250 were excluded from the diluted calculation due to their anti-dilutive effect for the thirteen and thirty-nine weeks ended September 27, 2015 .

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 25, 2016
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT On November 5, 2014, the Company entered into a credit agreement (the "2014 Credit Agreement") with a syndicate of financial institutions. The 2014 Credit Agreement provides for a revolving credit facility under which the Company may borrow up to $100.0 million (including a sublimit cap of up to $10.0 million for letters of credit and up to $10.0 million for swing-line loans), maturing in November 2019 . Under the 2014 Credit Agreement, the Company may increase the revolving credit facility by up to $25.0 million if no event of default exists and certain other requirements are satisfied. Borrowings under the revolving credit facility bear interest at the Company’s option of either (i) the Base Rate (as such term is defined in the 2014 Credit Agreement) plus the applicable margin of 0.50% to 1.50% or (ii) at a fixed rate for a period of one, two, three or six months equal to the London interbank offered rate, or LIBOR, plus the applicable margin of 1.50% to 2.50% . In addition, the Company is required to pay an unused facility fee to the lenders equal to 0.20% to 0.35% per annum on the aggregate amount of the unused revolving credit facility, excluding swing-line loans, commencing on November 5, 2014, payable quarterly in arrears. Borrowings under the Company’s revolving credit facility are collateralized by a first priority security interest in substantially all of the tangible and intangible personal property of the Company and its subsidiaries. As of September 25, 2016 , we had an outstanding balance of $51.0 million on our revolving credit facility. The 2014 Credit Agreement provides for bank guarantees under standby letter of credit arrangements in the normal course of business operations. The standby letters of credit are cancellable only at the option of the beneficiary who is authorized to draw drafts on the issuing bank up to the face amount of the standby letters of credit in accordance with its credit. As of September 25, 2016 , the maximum exposure under these standby letters of credit was $2.9 million . During the thirteen weeks ended September 25, 2016 , the Company determined that it may not be in compliance with one of the 2014 Credit Agreement's financial covenants that is measured and reported on a quarterly basis at the end of the quarter. On September 23, 2016, the Company received a waiver of noncompliance with this financial covenant that is effective until October 31, 2016. As more fully described in Note 8, on October 31, 2016, the Company entered into an amendment to the 2014 Credit Agreement (the "Amendment"). The Amendment redefines the Company's senior credit facilities and provides for (i) a $35.0 million term loan facility, maturing in 2019, and (ii) a revolving credit facility under which the Company may borrow up to $30.0 million (including a sublimit cap of up to $10.0 million for letters of credit and up to $10.0 million for swing-line loans), maturing in 2019. In addition, the Amendment requires the Company to make fixed quarterly principal payments of $1.0 million under the senior credit facilities. As a result of this requirement, the Company has classified $4.0 million of its long-term debt as current in its consolidated balance sheets as of September 25, 2016.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Sep. 25, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION In June 2006, the Company adopted the Bravo Development, Inc. Option Plan (the “2006 Plan”) in order to provide an incentive to employees. In conjunction with the Company’s initial public offering, all of the then outstanding options under the 2006 Plan became exercisable and the 2006 Plan was terminated. No further compensation costs will be recorded under the 2006 Plan. The 2006 Plan was replaced with the Bravo Brio Restaurant Group, Inc. Stock Incentive Plan (the “Stock Incentive Plan”), which was adopted in October 2010. 2006 Plan Stock option activity for the thirty-nine weeks ended September 25, 2016 is summarized as follows: Number of Shares Weighted Average Exercise Price Outstanding at December 27, 2015 790,731 $ 1.45 Exercised (308,215 ) $ 1.45 Granted — $ — Forfeited — $ — Outstanding at September 25, 2016 482,516 $ 1.45 Exercisable at September 25, 2016 482,516 $ 1.45 At September 25, 2016 , the weighted-average remaining contractual term of options outstanding was approximately 0.6 years and all of the options were exercisable. Aggregate intrinsic value is calculated as the difference between the Company’s closing price at the end of the fiscal quarter and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders had they all exercised such options on the fiscal quarter end date. The aggregate intrinsic value for outstanding and exercisable options at September 25, 2016 was $1.5 million . The Company's stock option award agreements allow employees to surrender to the Company common shares upon exercise in lieu of their payment of the exercise price and required personal employment-related taxes. Employees surrendered to the Company 3,304 common shares towards the exercise price and minimum statutory tax withholdings which the Company recorded as a reduction in common shares in an amount of approximately $15.9 thousand during the thirty-nine weeks ended September 25, 2016 . There were no such common shares withheld during the thirty-nine weeks ended September 27, 2015 . Stock Incentive Plan Restricted stock activity for the thirty-nine weeks ended September 25, 2016 is summarized as follows: Number of Shares Weighted- Average Grant Date Fair Value Outstanding at December 27, 2015 195,422 $ 15.41 Granted 243,500 $ 7.11 Vested (81,502 ) $ 16.38 Forfeited (33,650 ) $ 11.76 Outstanding at September 25, 2016 323,770 $ 9.30 Fair value of the outstanding shares of restricted stock is based on the average of the high and low price of the Company’s shares on the date immediately preceding the date of grant. Stock compensation costs related to shares of restricted stock were approximately $0.9 million and $1.1 million for the thirty-nine weeks ended September 25, 2016 and September 27, 2015 , respectively. As of September 25, 2016 , total unrecognized stock-based compensation expense related to non-vested shares of restricted stock was approximately $2.3 million taking into account potential forfeitures, which is expected to be recognized over a weighted average period of approximately 2.9 years . These shares of restricted stock will vest, subject to certain exceptions, annually over a four -year period. The Company's restricted stock award agreements allow employees to surrender to the Company shares of stock upon vesting in lieu of their payment of the required personal employment-related taxes. Employees surrendered to the Company 22,792 and 30,417 shares of restricted stock towards the minimum statutory tax withholdings, which the Company recorded as a reduction in common shares in the amount of approximately $0.2 million and $0.4 million , for the thirty-nine weeks ended September 25, 2016 and September 27, 2015 , respectively.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 25, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s consolidated balance sheets at September 25, 2016 and December 27, 2015 included net deferred income tax assets of $59.6 million and $58.1 million , respectively. The Company performs a periodic analysis to evaluate whether the deferred income tax assets will be realized. As of September 25, 2016 , the Company concluded that it is more likely than not that the deferred income tax assets will be realized through the generation of future taxable income. In 2012, the Company was audited by the Internal Revenue Service for the fiscal year ended December 26, 2010. On August 25, 2016, the Company executed an agreement to settle this audit with the Internal Revenue Service. This settlement did not have a material impact on the Company's financial statements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 25, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to various claims, possible legal actions, and other matters arising out of the normal course of business. While it is not possible to predict the outcome of these issues, management is of the opinion that adequate provision for potential losses has been made in the accompanying consolidated financial statements and that the ultimate resolution of these matters will not have, individually or in the aggregate, a material adverse effect on the Company’s financial position, results of operations or cash flows.

IMPAIRMENT OF LONG LIVED ASSETS

IMPAIRMENT OF LONG LIVED ASSETS (Notes)	9 Months Ended
	Sep. 25, 2016
Property, Plant and Equipment [Line Items]
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block]	IMPAIRMENT OF LONG-LIVED ASSETS The Company reviews long-lived assets, such as property, equipment and intangibles subject to amortization, for impairment when events or circumstances indicate the carrying value of the assets may not be recoverable. The Company has determined that its asset group for impairment testing is comprised of the assets and liabilities of each of its individual restaurants, as this is the lowest level of identifiable cash flows and primarily includes an assessment of historical cash flows and other relevant factors and circumstances. As part of the review, the Company also takes into account that its business is highly sensitive to seasonal fluctuations such as the holiday season at the end of the fourth quarter as it significantly impacts its short and long term projections for each location. The other factors and circumstances include changes in the economic environment, changes in the manner in which assets are used, unfavorable changes in legal factors or business climate, incurring excess costs in construction of the asset, overall restaurant operating performance and projections for future performance. These estimates result in a wide range of variability on a year to year basis due to the nature of the criteria. The Company evaluates future undiscounted cash flow projections in conjunction with qualitative factors and future operating plans. The impairment assessment process requires the use of estimates and assumptions regarding future undiscounted cash flows and operating outcomes, which are based upon a significant degree of management’s judgment. The estimates used in the impairment analysis represent a Level 3 fair value measurement. At any given time, the Company may be monitoring a small number of locations, and future impairment charges could be required if individual restaurant performance does not improve. The Company forecasts future cash flows by considering recent restaurant level performance, restaurant level operating plans, sales trends, and cost trends for cost of sales, labor and operating expenses. The Company compares this cash flow forecast to the asset's carrying value at the restaurant. Based on this analysis, if the Company determines that the carrying amount of the assets are not recoverable, an impairment charge is recognized based upon the amount by which the asset's carrying value exceeds fair value. The Company incurred a non-cash impairment charge of $1.2 million during the thirty-nine weeks ended September 25, 2016 related to one restaurant. The Company did not recognize an impairment charge during the thirty-nine weeks ended September 27, 2015 .

SUBSEQUENT EVENTS (Notes)

SUBSEQUENT EVENTS (Notes)	9 Months Ended
	Sep. 25, 2016
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS On October 31, 2016, the Company entered into the Amendment. The Amendment redefines the Company's senior credit facilities and provides for (i) a $35.0 million term loan facility, maturing in 2019, and (ii) a revolving credit facility under which the Company may borrow up to $30.0 million (including a sublimit cap of up to $10.0 million for letters of credit and up to $10.0 million for swing-line loans), maturing in 2019. Additionally, the Company is no longer allowed to increase the revolving credit facility by up to $25.0 million . Borrowings under the senior credit facilities bear interest at a fixed rate for a period of one, two, three or six months equal to LIBOR plus the applicable margin of 2.50% to 3.00% . In addition to making fixed quarterly principal payments under the Company’s senior credit facilities, the Company is required to pay an unused facility fee to the lenders equal to 0.30% to 0.50% per annum on the aggregate amount of the unused revolving credit facility, excluding swing-line loans, commencing on October 31, 2016, payable quarterly in arrears. The Amendment also modifies the financial tests that the Company is required to meet by removing the maximum consolidated total leverage ratio, revising the minimum consolidated fixed charge coverage ratio, adding a maximum consolidated lease-adjusted leverage ratio and adding a minimum earnings before interest, taxes, depreciation and amortization as defined by the Amendment. In addition to these financial tests, the Amendment places limitations on new restaurant leases until the lease-adjusted leverage ratio meets certain thresholds. The Amendment also provides the Company with a permanent waiver of noncompliance with certain financial tests under the 2014 Credit Agreement for the thirteen weeks ended September 25, 2016.

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	9 Months Ended
	Sep. 25, 2016
Earnings Per Share [Abstract]
Computations of Basic and Diluted Earnings Per Common Share	(in thousands, except per share data) Thirteen Weeks Ended Thirty-Nine Weeks Ended September 25, September 27, September 25, September 27, Net (loss) income $ (2,985 ) $ 910 $ (1,391 ) $ 7,282 Weighted average common shares outstanding 14,582 15,202 14,648 15,174 Effect of dilutive securities: Stock options — 709 — 726 Restricted stock — 37 — 17 Weighted average common and potentially issuable common shares outstanding—diluted 14,582 15,948 14,648 15,917 Basic net (loss) income per common share $ (0.20 ) $ 0.06 $ (0.09 ) $ 0.48 Diluted net (loss) income per common share $ (0.20 ) $ 0.06 $ (0.09 ) $ 0.46

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 25, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	Stock option activity for the thirty-nine weeks ended September 25, 2016 is summarized as follows: Number of Shares Weighted Average Exercise Price Outstanding at December 27, 2015 790,731 $ 1.45 Exercised (308,215 ) $ 1.45 Granted — $ — Forfeited — $ — Outstanding at September 25, 2016 482,516 $ 1.45 Exercisable at September 25, 2016 482,516 $ 1.45
Restricted Stock Activity	Restricted stock activity for the thirty-nine weeks ended September 25, 2016 is summarized as follows: Number of Shares Weighted- Average Grant Date Fair Value Outstanding at December 27, 2015 195,422 $ 15.41 Granted 243,500 $ 7.11 Vested (81,502 ) $ 16.38 Forfeited (33,650 ) $ 11.76 Outstanding at September 25, 2016 323,770 $ 9.30

Basis of Presentation (Details)

Basis of Presentation (Details) (Detail) $ in Millions	9 Months Ended
	Sep. 25, 2016StateRestaurant	Dec. 27, 2015USD ($)
Significant Accounting Policies [Line Items]
Aggregate number of restaurant operated by company	116
Number of states where restaurants are operated | State	33
Aggregate number of restaurant operated under management agreement	1
Aggregate Number Of Restaurant Operated Under Franchise Agreement	1
Reclass of Deferred Tax Assets | $		$ 3.6
Bravo Cucina Italiana
Significant Accounting Policies [Line Items]
Aggregate number of restaurant operated by company	51
Brio Tuscan Grille
Significant Accounting Policies [Line Items]
Aggregate number of restaurant operated by company	64
Bon Vie
Significant Accounting Policies [Line Items]
Aggregate number of restaurant operated by company	1

Computations of Basic and Dilut

Computations of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Earnings Per Share [Abstract]
Net income	$ (2,985)	$ 910	$ (1,391)	$ 7,282
Weighted average common shares outstanding	14,582,000	15,202,000	14,648,000	15,174,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			806,286	29,250
Effect of dilutive securities:
Stock options		709,000		726,000
Restricted stock		37,000		17,000
Weighted average common and potentially issuable common shares outstanding—diluted	14,582,000	15,948,000	14,648,000	15,917,000
Basic net income per common share	$ (0.20)	$ 0.06	$ (0.09)	$ 0.48
Diluted net income per common share	$ (0.20)	$ 0.06	$ (0.09)	$ 0.46

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	9 Months Ended	33 Months Ended
	Sep. 25, 2016	Sep. 29, 2019	Oct. 31, 2016	Dec. 27, 2015	Nov. 05, 2014
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment		$ 1,000,000
Debt, Current	$ 4,000,000			$ 0
Swingline Loans [Member]
Debt Instrument [Line Items]
Sublimit Cap			$ 10,000,000		$ 10,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			30,000,000		100,000,000
Revolving Credit Facility Year of Maturity	2,019
Line Of Credit Facility Increase Additional Borrowing					25,000,000
Long-term Debt	$ 51,000,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Sublimit Cap			10,000,000		$ 10,000,000
Maximum standby letters of credit	$ 2,900,000
Term loan facility [Member]
Debt Instrument [Line Items]
Term loan facility			$ 35,000,000
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Applicable Margin			2.50%		1.50%
Minimum [Member] | Unused lines of Credit [Member]
Debt Instrument [Line Items]
Line Of Credit Facility Unused Capacity Commitment Fee			0.30%		0.20%
Minimum [Member] | Alternate Base Rate [Member]
Debt Instrument [Line Items]
Debt Applicable Margin					0.50%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Applicable Margin			3.00%		2.50%
Maximum [Member] | Unused lines of Credit [Member]
Debt Instrument [Line Items]
Line Of Credit Facility Unused Capacity Commitment Fee			0.50%		0.35%
Maximum [Member] | Alternate Base Rate [Member]
Debt Instrument [Line Items]
Debt Applicable Margin					1.50%

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail) - USD ($)	9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015
Stock Option Activity And Changes [Line Items]
Share-based Compensation	$ 864,000	$ 1,147,000
Stock option activity
Payments Related To Tax Withholding For Share Based Compensation Minimum Tax Withholdings	$ 185,000	$ 406,000
Equity Option
Stock Option Activity And Changes [Line Items]
Shares Paid for Tax Withholding for Share Based Compensation	3,304
Stock option activity
Number of Shares Outstanding - beginning of year	790,731
Weighted average exercise price outstanding - beginning of year	$ 1.45
Number of shares, Exercised	(308,215)
Weighted average exercise price, Exercised	$ 1.45
Number of shares, Granted	0
Weighted average exercise price, Granted	$ 0
Number of shares, Forfeited	0
Weighted average exercise price, Forfeited	$ 0
Number of Shares Outstanding - end of year	482,516
Weighted average exercise price Outstanding - ending of year	$ 1.45
Exercisable - end of year	482,516
Weighted Average Exercise Price Exercisable - end of period	$ 1.45
Payments Related To Tax Withholding For Share Based Compensation Minimum Tax Withholdings	$ 15,900

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 864	$ 1,147
Payments Related to Tax Withholding for Share-based Compensation	$ 185
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining contractual term	6 months 19 days
Aggregate intrinsic value for outstanding and exercisable options	$ 1,500
Shares Paid for Tax Withholding for Share Based Compensation	3,304
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 900
Weighted-average remaining contractual term	2 years 11 months 9 days
Unrecognized stock-based compensation expense related to non-vested shares of restricted stock	$ 2,300
Number of years to vest restricted shares	4 years
Shares Paid for Tax Withholding for Share Based Compensation	22,792	30,417
Payments Related to Tax Withholding for Share-based Compensation	$ 200	$ 400

Restricted Stock Activity (Deta

Restricted Stock Activity (Detail) - Restricted Stock	9 Months Ended
	Sep. 25, 2016$ / sharesshares
Restricted stock activity
Number of Shares Outstanding - beginning of year | shares	195,422
Weighted-average grant date fair value, Outstanding | $ / shares	$ 15.41
Number of shares, Granted | shares	243,500
Weighted-average grant date fair value, Granted | $ / shares	$ 7.11
Number of shares, Vested | shares	(81,502)
Weighted-average grant date fair value, Vested | $ / shares	$ 16.38
Number of shares, Forfeited | shares	(33,650)
Weighted-average grant date fair value, Forfeited | $ / shares	$ 11.76
Number of Shares Outstanding - end of Period | shares	323,770
Weighted-average exercise price | $ / shares	$ 9.30

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Sep. 25, 2016	Dec. 27, 2015
Income Tax Disclosure [Abstract]
Deferred tax assets, net	$ 59.6	$ 58.1

IMPAIRMENT OF LONG LIVED ASSE24

IMPAIRMENT OF LONG LIVED ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Impairment of Long-lived Assets [Abstract]
Asset Impairment Charges	$ 0	$ 0	$ 1,249	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Oct. 31, 2016	Nov. 05, 2014
Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000,000	$ 100,000,000
Line Of Credit Facility Increase Additional Borrowing		25,000,000
Letter of Credit [Member]
Subsequent Event [Line Items]
Sublimit Cap	10,000,000	10,000,000
Swingline Loans [Member]
Subsequent Event [Line Items]
Sublimit Cap	10,000,000	$ 10,000,000
Term loan facility [Member]
Subsequent Event [Line Items]
Term loan facility	$ 35,000,000
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Subsequent Event [Line Items]
Debt Applicable Margin	3.00%	2.50%
Maximum [Member] | Unused lines of Credit [Member]
Subsequent Event [Line Items]
Line Of Credit Facility Unused Capacity Commitment Fee	0.50%	0.35%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Subsequent Event [Line Items]
Debt Applicable Margin	2.50%	1.50%
Minimum [Member] | Unused lines of Credit [Member]
Subsequent Event [Line Items]
Line Of Credit Facility Unused Capacity Commitment Fee	0.30%	0.20%