Franchise (TAX) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 26, 2022	Apr. 30, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 26, 2022
Document Transition Report	false
Entity File Number	001-35588
Entity Registrant Name	Franchise Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3561876
Entity Address, Address Line One	109 Innovation Court, Suite J
Entity Address, City or Town	Delaware,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43015
City Area Code	740)
Local Phone Number	-2222
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,354,436
Entity Central Index Key	0001528930
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common stock, par value $.01 per share
Trading Symbol	FRG
Security Exchange Name	NASDAQ
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.50% Series A Cumulative Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share
Trading Symbol	FRGAP
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 149,597	$ 292,714
Receivables:
Total Receivables, Current, Net	110,368	118,698
Inventory, Net	779,279	673,170
Assets Held-for-sale, Not Part of Disposal Group, Current	203,679	0
Other current assets	28,403	24,063
Total current assets	1,658,212	1,478,212
Property, equipment, and software, net	237,056	449,886
Equity Securities, FV-NI, Noncurrent	11,626	35,249
Accounts and Financing Receivable, after Allowance for Credit Loss, Noncurrent	11,156	11,755
Goodwill	806,697	806,536
Operating Lease, Right-of-Use Asset	713,820	714,741
Indefinite-Lived Trade Names	222,687	222,687
Other intangible assets, net	125,222	127,951
Other assets	18,578	18,902
Total assets	3,853,409	3,913,171
Current liabilities:
Current installments of long-term obligations	487,957	486,170
Operating Lease, Liability, Current	173,295	173,101
Accounts payable and accrued expenses	458,776	410,552
Deferred revenue - current	51,572	50,833
Total current liabilities	1,171,600	1,120,656
Long-term Debt, Excluding Current Maturities	1,286,972	1,383,725
Long-term Debt and Lease Obligation	552,412	557,071
Other Liabilities, Noncurrent	90,739	88,888
Total liabilities	3,101,723	3,150,340
Equity:
Additional paid-in capital	480,628	475,396
Retained earnings	270,609	286,987
Total equity	751,686	762,831
Total liabilities and equity	3,853,409	3,913,171
Asset-backed Securities, Securitized Loans and Receivables
Receivables:
Financing Receivable, after Allowance for Credit Loss, Current	386,886	369,567
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	48,355	47,252
Special voting preferred stock
Equity:
Preferred stock	45	45
Class A common stock
Equity:
Common stock	$ 404	$ 403

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Finite-Lived Intangible Assets, Accumulated Amortization	$ 14,986	$ 12,164
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized		20,000,000
Preferred Stock, Shares Issued	4,541,125	4,541,125
Class A common stock
Common Stock, Value, Issued	$ 404	$ 403
Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	40,353,865	40,296,688
Common Stock, Shares Authorized		180,000,000
Common Stock, Shares, Outstanding	40,353,865	40,296,688

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,135,470	$ 621,345
Operating expenses:
Direct Costs of Leased and Rented Property or Equipment	2,861	3,005
Cost of Revenue	628,109	342,824
Selling, general, and administrative expenses	376,995	225,545
Total operating expenses	1,005,104	568,369
Loss from operations	130,366	52,976
Other income (expense):
Bargain purchase gain	(67)
Foreign currency transaction gain	(21,977)	(36,726)
Interest expense	(92,327)	(47,435)
Loss before income taxes	15,995	(31,185)
Income tax benefit	3,678	(2,851)
Income (loss) from continuing operations	12,317	(28,334)
Income (loss) from discontinued operations, net of tax	0	42,147
Net income (loss) attributable to Franchise Group, Inc.	$ 12,317	$ 13,813
Income (loss) per share from continuing operations:
Basic	$ 0.25	$ (0.76)
Basic	0.25	(0.76)
Earnings Per Share, Basic	0.25	0.29
Net income (loss) per share:
Earnings Per Share, Diluted	$ 0.25	$ 0.29
Weighted Average Number of Shares Outstanding, Basic	40,307,412	40,110,084
Weighted Average Number of Shares Outstanding, Diluted	41,107,793	40,110,084
Product [Member]
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 979,164	$ 583,816
Operating expenses:
Cost of Goods and Services Sold	616,585	339,414
Service [Member]
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	148,282	28,576
Operating expenses:
Cost of Goods and Services Sold	8,663	405
Rental
Revenues:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 8,024	$ 8,953

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 12,317	$ 13,813
Unrealized (gain) loss on interest rate swap agreement, net of taxes of $— and $13, respectively	0	48
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	0	(223)
Forward contracts related to foreign currency exchange rates	0	16
Other comprehensive income (loss)	0	287
Comprehensive income (loss)	$ 12,317	$ 14,100

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	$ 0	$ 13

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders Equity Statement shares in Thousands, $ in Thousands	USD ($)	USS ($)	Franchise Agreements [Member]USD ($)	Reacquired Rights [Member]USD ($)	Trade Names [Member]USD ($)	Common Stock [Member]USD ($)shares	Preferred Stock [Member]USD ($)shares	Preferred Stock [Member]Series A Preferred StockUSD ($)shares	Parent [Member]USD ($)	Parent [Member]Common Stock [Member]USD ($)	Parent [Member]Preferred Stock [Member]USD ($)	Parent [Member]Series A Preferred StockUSD ($)	Additional Paid-in Capital [Member]USD ($)	Additional Paid-in Capital [Member]USS ($)	Additional Paid-in Capital [Member]Series A Preferred StockUSD ($)	AOCI Attributable to Parent [Member]USD ($)	Retained Earnings [Member]USD ($)	Retained Earnings [Member]Common Stock [Member]USD ($)	Retained Earnings [Member]Preferred Stock [Member]USD ($)
Shares, Outstanding | shares						40,092	1,250
Stockholders' Equity Attributable to Parent						$ 401,000	$ 13,000		$ 385,167,000				$ 382,383,000			$ (1,399,000)	$ 3,769,000
Stock Issued During Period, Value, Acquisitions									25,000				25,000
Net Income (Loss) Attributable to Parent	$ 13,813,000
Other Comprehensive Income (Loss), Net of Tax	287,000
Stock Issued During Period, Shares, Acquisitions | shares						3
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition, Shares | shares						62
Stock Issued During Period, Value, Conversion of Convertible Securities								$ (32,000)				$ (79,541,000)			$ (79,509,000)
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares								(3,291)
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition									2,190,000				2,189,000
Dividends										$ (15,434,000)	$ (2,129,000)							$ (15,434,000)	$ (2,129,000)
Net Income (Loss) Available to Common Stockholders, Basic	11,684,000								13,813,000
Net loss	13,813,000																13,813,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									287,000							287,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture						$ 1,000
Shares, Outstanding | shares						40,157	4,541
Stockholders' Equity Attributable to Parent						$ 402,000	$ 45,000		463,460,000				464,106,000			(1,112,000)	19,000
Shares, Outstanding | shares						40,297	4,541
Stockholders' Equity Attributable to Parent	762,831,000					$ 403,000	$ 45,000		762,831,000				475,396,000			0	286,987,000
Intangible Assets, Net (Excluding Goodwill)	127,951,000			$ 1,458,000
Indefinite-Lived Trademarks					$ 222,687,000
Net Income (Loss) Attributable to Parent	12,317,000								12,317,000								12,317,000
Other Comprehensive Income (Loss), Net of Tax	0
Stock Issued During Period, Value, Stock Options Exercised									180,000				180,000
Stock Issued During Period, Shares, Acquisitions | shares						41
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition									5,029,000				5,028,000
Dividends																	(26,567,000)
Net Income (Loss) Available to Common Stockholders, Basic	10,189,000
Net loss	12,317,000
Dividends, Preferred Stock, Cash									(2,128,000)								(2,128,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares						15
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture						$ 1,000
Stock Issued During Period, Value, New Issues		$ 24												$ 24
Stock Issued During Period, Shares, New Issues | shares						1
Shares, Outstanding | shares						40,354	4,541
Stockholders' Equity Attributable to Parent	751,686,000					$ 404,000	$ 45,000		751,686,000				$ 480,628,000			$ 0	$ 270,609,000
Dividends Payable									$ (26,567,000)
Intangible Assets, Net (Excluding Goodwill)	$ 125,222,000		$ 87,486,000	$ 1,450,000
Indefinite-Lived Trademarks					$ 222,687,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Operating Activities
Net loss	$ 12,317	$ 13,813
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for doubtful accounts	15,103	710
Other Depreciation and Amortization	22,033	14,176
Amortization of Debt Issuance Costs	71,679	67,699
Stock-based compensation expense	5,447	2,550
Unrealized Gain (Loss) on Investments	23,723
Gain (Loss) on Sale of Intangible and Other Assets	(2,206)	(623)
Gain (Loss) on Disposition of Other Assets	(2,227)	(62)
Changes in other assets and liabilities	(83,716)	(22,512)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	62,153	75,751
Investing Activities
Assets Acquired from Franchisees and Area Developers	(9,752)	(11,667)
Proceeds from Sale of Intangible Assets	2,554	277
Payments to Acquire Businesses, Net of Cash Acquired	(3,930)	(463,753)
Payments to Operating Loans to Franchisees	0	(17,058)
Proceeds from Repayments on Operating Loans to Franchisees	0	21,644
Net Cash Provided by (Used in) Investing Activities	(11,128)	(470,557)
Net cash (used in) investing activities	(11,128)	(470,557)
Financing Activities
Dividends paid	(27,315)	(15,620)
Proceeds from Long-term Lines of Credit	124,358	1,306,724
Repayments of Other Long-term Debt	(290,202)	(854,665)
Issuance of common stock	24	0
Issuance of preferred stock	0	79,541
Finance Lease, Principal Payments	(768)
Payment for debt issue costs and prepayment penalty on extinguishment	0	(87,490)
Payment, Tax Withholding, Share-based Payment Arrangement	(239)	(336)
Net cash provided by (used in) financing activities	(194,142)	428,154
Effect of exchange rate changes on cash, net	0	56
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(143,117)	33,404
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	149,597	184,906
Cash and Cash Equivalents, at Carrying Value, Ending Balance	149,597	164,858
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest of $4 and $3, respectively	274	65
Cash paid for taxes, net of refunds	21,424	39,730
Payments to Acquire Software	3,177	3,019
Proceeds from Issuance of Secured Debt		16,775
Taxes Receivable Agreement, Other long Term Liabilities	0
Restricted Cash, Noncurrent	0	368
Restricted Cash and Cash Equivalents	$ 149,597	184,906
Discontinued Operations, Held-for-sale | Liberty Tax [Member]
Supplemental disclosures of cash flow information:
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents		$ 19,680

Organization and Significant Ac

Organization and Significant Accounting Policies	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	Basis of Presentation Unless otherwise stated, references to the "Company," "we," "us," and "our" in this Quarterly Report on Form 10-Q (the "Quarterly Report") refer to Franchise Group, Inc. and its direct and indirect subsidiaries on a consolidated basis. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the Company's Form 10-K for the year ended December 25, 2021 that was filed with the Securities and Exchange Commission (“SEC”) on February 23, 2022 (the “Form 10-K”). In the opinion of management, all adjustments (including those of a normal recurring nature) necessary for a fair presentation of such condensed consolidated financial statements in accordance with GAAP have been recorded. The December 25, 2021 balance sheet information was derived from the audited financial statements as of that date. Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, " Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ", which changes how companies will measure credit losses for most financial assets and certain other instruments that aren't measured at fair value through net income. The standard replaces the "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost (which generally will result in the earlier recognition of allowances for losses) and requires companies to record allowances for available-for-sale debt securities, rather than reduce the carrying amount. In addition, companies will have to disclose significantly more information, including information used to track credit quality by year of origination, for most financing receivables. The ASU should be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the standard is effective. The ASU is effective for the Company for the fiscal year beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ” This standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The ASU is effective for the Company for the fiscal year beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of this standard to its consolidated financial statements.

Acquisition (Notes)

Acquisition (Notes)	3 Months Ended
	Mar. 26, 2022
Business Combinations [Abstract]
Acquisitions	(2) Acquisitions The Company continually looks to diversify and grow its portfolio of brands through acquisitions. On March 10, 2021, the Company completed its acquisition (the "Pet Supplies Plus Acquisition") of Pet Supplies Plus, o n September 27, 2021, the Company completed its acquisition (the "Sylvan Acquisition") of Sylvan Learning ("Sylvan"), and o n November 22, 2021, the Company completed its acquisition (the "Badcock Acquisition" and, collectively with the Sylvan Acquisition and the Pet Supplies Plus Acquisition, the “Acquisitions”) of W.S. Badcock Corporation ("Badcock"). Badcock Acquisition On November 22, 2021, the Company completed the Badcock Acquisition. The preliminary fair value of the consideration transferred at the acquisition date was $548.7 million. For the three months ended March 26, 2022, $0.6 million of acquisition fees had been incurred that are recorded in selling, general and administrative expenses. The table below summarizes the unaudited preliminary estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Badcock Acquisition on November 22, 2021. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in an adjustment to the preliminary values presented below. In the three months ended March 26, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in an increase in the bargain purchase gain of $0.1 million. The increase was primarily due to an increase in operating lease right-of use assets of $3.9 million related to market lease terms partially offset by a $1.1 million increase in other long-term liabilities for deferred taxes and a net working capital true-up of $2.9 million. The Company expects to complete the purchase price allocation as soon as reasonably possible but not to exceed one year from the date of completion of the Badcock Acquisition. (In thousands) Preliminary Cash and cash equivalents $ 23,413 Inventories, net 130,045 Accounts receivable 411,268 Other current assets 5,023 Property, plant, and equipment 233,938 Operating lease right-of-use assets 55,626 Other non-current assets 2,506 Total assets 861,819 Current operating lease liabilities 12,070 Accounts payable and accrued expenses 71,436 Other current liabilities 18,942 Current installments of long-term obligations 5,261 Long-term obligations, excluding current installments 7,247 Non-current operating lease liabilities 39,599 Other long-term liabilities 26,504 Total liabilities 181,059 Bargain purchase gain (132,110) Consideration transferred $ 548,650 Operating lease right-of-use assets of $55.6 million and operating and lease liabilities of $51.7 million, consist of leases for retail store locations, warehouses and office equipment. Property, plant, and equipment consists of fixtures and equipment of $93.0 million, buildings and building improvements of $93.1 million, land and land improvements of $33.4 million, leasehold improvements of $23.7 million, and construction in progress of $1.4 million. During the three months ended March 26, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in a $0.1 million increase to the bargain purchase gain for a cumulative bargain purchase gain of $132.1 million. The adjustment is classified as "Bargain purchase gain" on the Consolidated Statements of Operations for the three months ended March 26, 2022. The Company believes the seller in the Badcock Acquisition was willing to accept a bargain purchase price in return for the Company's ability to act more quickly, partially due to the Company's access to capital to complete the transaction, and with greater certainty than any other prospective acquirer. Additionally, the Company believes the seller in the Badcock Acquisition was motivated to complete the transaction as part of an overall repositioning of its business. Upon completion of this reassessment, the Company concluded that recording a bargain purchase gain with respect to the Badcock Acquisition was appropriate and required under GAAP. The tax impact related to the bargain purchase gain was non-taxable and impacted the Company's effective tax rate for the period. Sylvan Acquisition On September 27, 2021, the Company completed the Sylvan Acquisition. The preliminary fair value of the consideration transferred at the acquisition date was $82.9 million. The table below summarizes the preliminary estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Sylvan Acquisition on September 27, 2021. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in an adjustment to the preliminary values presented below. In the three months ended March 26, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in a decrease in goodwill of $0.1 million. The decrease was due to a net working capital true-up of $0.1 million. The Company expects to complete the purchase price allocation as soon as reasonably possible but not to exceed one year from the date of completion of the Sylvan Acquisition. (In thousands) Preliminary Cash and cash equivalents $ 4,364 Other current assets 3,592 Property, plant, and equipment 26,324 Goodwill 19,406 Tradenames 24,987 Operating lease right-of-use assets 2,874 Other intangible assets 19,412 Other non-current assets 185 Total assets 101,144 Current operating lease liabilities 891 Accounts payable and accrued expenses 6,072 Non-current operating lease liabilities 1,984 Other long-term liabilities 9,320 Total liabilities 18,267 Consideration transferred $ 82,877 Other intangible assets consists of the franchise agreements of $18.3 million and proprietary content of $1.1 million. Property, plant and equipment consists of fixtures and equipment of $0.3 million, leasehold improvements of $0.7 million, and software and electronic content of $25.3 million. Pet Supplies Plus Acquisition On March 10, 2021, the Company completed the Pet Supplies Plus Acquisition. The preliminary fair value of the consideration transferred at the acquisition date was $451.3 million. The table below summarizes the unaudited estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Pet Supplies Plus Acquisition on March 10, 2021. In the three months ended March 26, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were finalized, which resulted in an increase in goodwill of $0.1 million. The increase was due to a $0.1 million decrease of deferred franchise fees. The Company has completed the purchase price allocation of the Pet Supplies Plus Acquisition. (In thousands) Preliminary Cash and cash equivalents $ 2,131 Other current assets 39,844 Inventories, net 118,600 Property, equipment and software, net 75,616 Goodwill 335,995 Operating lease right-of-use assets 151,243 Tradenames 104,400 Other intangible assets, net 101,400 Other non-current assets 6,393 Total assets 935,622 Current operating lease liabilities 25,405 Accounts payable and accrued expenses 82,237 Other current liabilities 1,606 Current installments of long-term obligations 3,507 Long-term obligations, excluding current installments 247,458 Non-current operating lease liabilities 114,292 Other long-term liabilities 9,761 Total liabilities 484,266 Consideration transferred $ 451,356 Other intangible assets consists of franchise agreements of $67.1 million and customer relationships of $34.3 million. Operating lease right-of-use assets and lease liabilities consist of leases for retail store locations, warehouses and office equipment. Operating lease right-of-use assets incorporates a favorable adjustment of $12.4 million, net for favorable and unfavorable Pet Supplies Plus real estate leases (as compared to prevailing market rates) which will be amortized over the remaining lease terms. Property, equipment and software, net consists of fixtures and equipment of $37.0 million, leasehold improvements of $33.5 million, construction in progress of $3.5 million and financing leases of $1.7 million. Other non-current assets includes $0.4 million of restricted cash. Wag N' Wash Acquisition On February 22, 2022, the Company's Pet Supplies Plus segment completed the acquisition of Wag N' Wash ("Wag N' Wash Acquisition"), an emerging natural pet food, self-wash, and grooming franchise, for an all cash purchase price of $0.9 million, and five of the Wag N' Wash stores were subsequently sold to a franchisee for $0.6 million. The Company expects to complete the purchase price allocation as soon as reasonably possible but not to exceed one year from the date of completion of the Wag N' Wash Acquisition. The components of the purchase price allocation are not presented herein due to the immateriality of the transaction to the Company overall. Pro forma financial information The following unaudited consolidated pro forma summary has been prepared by adjusting the Company's historical data to give effect to the Acquisitions as if they had occurred on December 25, 2021. Pro forma (Unaudited) Three Months Ended (In thousands) March 26, 2022 March 27, 2021 Revenue $ 1,135,469 $ 1,052,002 Net income 12,366 55,276 Basic net income per share $ 0.31 $ 1.38 Diluted net income per share $ 0.30 $ 1.35 These unaudited pro forma results include adjustments such as inventory step-up, amortization of acquired intangible assets, depreciation of acquired property, equipment, and software and interest expense on debt financing in connection with the Acquisitions. Material, nonrecurring pro forma adjustments directly attributable to the Acquisitions include: • Acquired inventory step-up to its fair value of $2.3 million is assumed to be recorded in the first quarter of 2020 and therefore removed from the three months ended March 27, 2021. • Acquisition transaction related costs of $4.9 million that were incurred during the three months ended March 27, 2021 are assumed to have occurred on the pro forma close date of January 1, 2020, and recognized as if incurred in the first quarter of 2020. The unaudited consolidated pro forma financial information was prepared in accordance with GAAP and is not necessarily indicative of the results of operations that would have occurred if the Acquisitions had been completed on the date indicated, nor is it indicative of the future operating results of the Company. The unaudited pro forma results do not reflect events that either have occurred or may occur after the Acquisitions, including, but not limited to, the anticipated realization of operating synergies in subsequent periods. They also do not give effect to certain charges that the Company expects to incur in connection with the acquisition, including, but not limited to, additional professional fees and employee integration.

Revenue Revenue (Notes)

Revenue Revenue (Notes)	3 Months Ended
	Mar. 26, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	(6) Revenue For details regarding the principal activities from which the Company generates its revenue, see "Note 1. Description of Business and Summary of Significant Account Policies Presentation" in the Form 10-K. For more detailed information regarding reportable segments, see "Note 13. Segments" in this Quarterly Report. The following represents the disaggregated revenue by reportable segments for the three months ended March 26, 2022: March 26, 2022 Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy's Sylvan Consolidated (In thousands) Three Months Ended Retail sales $ 310,430 $ 162,549 $ 166,642 $ 211,513 $ 1,070 $ 11 $ 852,215 Wholesale sales 175 123,232 — 3,542 — — 126,949 Total product revenue 310,605 285,781 166,642 215,055 1,070 11 979,164 Royalties and other franchise based fees 134 9,062 — 548 4,824 9,509 24,077 Financing revenue — — — 8,175 — — 8,175 Interest income — 73 65,269 195 — — 65,537 Warranty and damage revenue — — 13,546 11,479 1,604 — 26,629 Other revenues 214 6,298 10,802 5,964 63 523 23,864 Total service revenue 348 15,433 89,617 26,361 6,491 10,032 148,282 Rental revenue, net — — — — 8,024 — 8,024 Total rental revenue — — — — 8,024 — 8,024 Total revenue $ 310,953 $ 301,214 $ 256,259 $ 241,416 $ 15,585 $ 10,043 $ 1,135,470 The following represents the disaggregated revenue by reportable segments for the three months ended March 27, 2021: March 27, 2021 Vitamin Shoppe Pet Supplies Plus † American Freight Buddy's Consolidated (In thousands) Three Months Ended Three Months Ended Three Months Ended Three Months Ended Three Months Ended Retail sales $ 294,739 $ 31,365 $ 239,058 $ 1,368 $ 566,530 Wholesale sales — 17,287 — — 17,287 Total product revenue 294,739 48,652 239,058 1,368 583,817 Royalties and other franchise based fees — 1,390 — 4,555 5,945 Financing revenue — — 8,579 — 8,579 Interest income — 13 295 — 308 Warranty and damage revenue — — 6,397 1,806 8,203 Other revenues — 1,254 4,188 98 5,540 Total service revenue — 2,657 19,459 6,459 28,575 Rental revenue, net — — — 8,953 8,953 Total rental revenue — — — 8,953 8,953 Total revenue $ 294,739 $ 51,309 $ 258,517 $ 16,780 $ 621,345 † Reflects the results from the March 10, 2021 acquisition date. Contract Balances The following table provides information about receivables and contract liabilities (deferred revenue) from contracts with customers as of March 26, 2022 and December 25, 2021: (In thousands) March 26, 2022 December 25, 2021 Accounts Receivable $ 82,848 $ 86,087 Notes receivable 1,505 13,864 Customer deposits $ 36,515 $ 37,626 Gift cards and loyalty programs 8,417 7,604 Deferred franchise fee revenue 17,691 16,984 Other deferred revenue 10,134 8,400 Total deferred revenue $ 72,757 $ 70,614 Deferred revenue for customer deposits, gift card or store credits outstanding, and loyalty reward program credits are generally recognized within one year following the revenue deferral. Deferred franchise fee revenue is recognized over the term of the agreement, which is generally between five and ten years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The Company performs impairment tests for goodwill as of the end of July of each fiscal year and between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair values of the Company's reporting units below their carrying values. There are no accumulated goodwill impairment losses recorded. Changes in the carrying amount of goodwill for the three months ended March 26, 2022 are as follows: Vitamin Shoppe Pet Supplies Plus American Freight Buddy's Sylvan Total Balance as of December 25, 2021 $ 1,277 $ 335,875 $ 370,829 $ 79,099 $ 19,456 $ 806,536 Acquisitions — 937 — — — 937 Disposals and purchase accounting adjustments — (726) — — (50) (776) Balance as of March 26, 2022 $ 1,277 $ 336,086 $ 370,829 $ 79,099 $ 19,406 $ 806,697 Components of intangible assets as of March 26, 2022 and December 25, 2021 were as follows: March 26, 2022 (In thousands) Gross carrying amount Accumulated Net carrying amount Indefinite lived tradenames $ 222,687 $ — $ 222,687 Intangible assets Franchise and dealer agreements $ 95,865 $ (8,379) $ 87,486 Customer contracts 42,414 (6,128) 36,286 Other intangible assets 1,929 (479) 1,450 Total intangible assets $ 140,208 $ (14,986) $ 125,222 December 25, 2021 (In thousands) Gross carrying amount Accumulated amortization Net carrying amount Indefinite lived tradenames $ 222,687 $ — $ 222,687 Intangible assets Franchise and dealer agreements $ 95,865 $ (6,571) $ 89,294 Customer contracts 42,414 (5,215) 37,199 Other intangible assets 1,836 (378) 1,458 Total intangible assets $ 140,115 $ (12,164) $ 127,951

Income Taxes

Income Taxes	3 Months Ended
	Mar. 26, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Overview For the three months ended March 26, 2022 and March 27, 2021, the Company had an effective tax rate from continuing operations of 23.0% and 9.1%, respectively. The change in the effective tax rate compared to the prior year is due to the reversal of a valuation allowance related to net operating loss carryforwards in the prior year. Tax Receivable Agreement On July 10, 2019, the Company entered into a tax receivable agreement with the then-existing non-controlling interest holders (the "Tax Receivable Agreement") that provides for the payment by the Company to the non-controlling interest holders of 40% of the cash savings, if any, in federal, state and local taxes that the Company realizes or is deemed to realize as a result of any increases in tax basis of the assets of Franchise Group New Holdco, LLC ("New Holdco") resulting from future redemptions or exchanges of New Holdco units.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 26, 2022
Equity [Abstract]
Stockholders' Equity	Net Income (Loss) Per Share Diluted net income (loss) per share is computed using the weighted-average number of common stock and, if dilutive, the potential common stock outstanding during the period. Potential common stock consists of the incremental common stock issuable upon the exercise of stock options and vesting of restricted stock units. The dilutive effect of outstanding stock options and restricted stock units is reflected in diluted earnings per share by application of the treasury stock method. Additionally, the computation of the diluted net income (loss) per share of common stock assumed the conversion of Preferred Stock, if dilutive. The following table sets forth the calculations of basic and diluted net income (loss) per share: Three Months Ended (In thousands, except for share and per share amounts) March 26, 2022 March 27, 2021 Net income (loss) from continuing operations attributable to Franchise Group $ 12,317 $ (28,334) Less: Preferred dividend declared (2,128) (2,129) Adjusted net income (loss) from continuing operations available to Common Stockholders 10,189 (30,463) Net income from discontinued operations attributable to Franchise Group — 42,147 Adjusted net income (loss) available to Common Stockholders $ 10,189 $ 11,684 Weighted-average common stock outstanding 40,307,412 40,110,084 Net dilutive effect of stock options and restricted stock 800,381 — Weighted-average diluted shares outstanding 41,107,793 40,110,084 Basic net income (loss) per share: Continuing operations $ 0.25 $ (0.76) Discontinued operations — 1.05 Basic net income per share $ 0.25 $ 0.29 Diluted net income (loss) per share: Continuing operations $ 0.25 $ (0.76) Discontinued operations — 1.05 Diluted net income per share $ 0.25 $ 0.29

Stock Compensation Plans

Stock Compensation Plans	3 Months Ended
	Mar. 26, 2022
Share-based Payment Arrangement [Abstract]
Stock Compensation Plans	Stock Compensation Plans For a discussion of our stock-based compensation plans, refer to “Note 11. - Stock Compensation Plans” of the Form 10-K. Restricted Stock Units The Company has awarded service-based restricted stock units (the "RSUs") to its non-employee directors, officers and certain employees. The Company recognizes expense based on the estimated fair value of the RSUs granted over the vesting period on a straight-line basis. The fair value of RSUs is determined using the Company's closing stock price on the date of the grant. At March 26, 2022, unrecognized compensation costs related to the RSUs were $8.8 million. These costs are expected to be recognized through fiscal year 2024. The following table summarizes the status of the RSUs as of and changes during the three months ended March 26, 2022: Number of RSUs Weighted average fair value at grant date Balance as of December 25, 2021 269,708 $ 27.92 Granted 114,039 42.21 Vested (51,602) 41.97 Canceled — — Balance as of March 26, 2022 332,145 $ 33.00 Performance Restricted Stock Units The Company has awarded performance restricted stock units (the "PRSUs") to its officers and certain employees. The Company recognizes expense based on the estimated fair value of the PRSUs granted over the vesting period on a straight-line basis. The fair value of PRSUs is determined using the Company's closing stock price on the date of the grant. At March 26, 2022, unrecognized compensation costs related to the PRSUs were $11.7 million. These costs are expected to be recognized through fiscal year 2024. The following table summarizes the status of the PRSUs as of and changes during the three months ended March 26, 2022: Number of PRSUs Weighted average fair value at grant date Balance as of December 25, 2021 706,260 $ 19.90 Granted 101,366 42.41 Vested — — Canceled — — Balance as of March 26, 2022 807,626 $ 22.72 Market-Based Performance Restricted Stock Units The Company has awarded market-based performance restricted stock units (the "MPRSUs") to its officers and certain employees. The Company recognizes expense based on the estimated fair value of the MPRSUs granted over the vesting period on a straight-line basis. The fair value of MPRSUs is determined using a Monte Carlo simulation valuation model to calculate grant date fair value. Compensation expense is recognized over the requisite service period using the proportionate amount of the award's fair value that has been earned through service to date. At March 26, 2022, unrecognized compensation costs related to the MPRSUs were $15.2 million. These costs are expected to be recognized through fiscal year 2024. The following table summarizes the status of the MPRSUs as of and changes during the three months ended March 26, 2022: Number of MPRSUs Weighted average fair value at grant date Balance as of December 25, 2021 826,926 $ 20.13 Granted 70,000 39.67 Vested — — Canceled — — Balance as of March 26, 2022 896,926 $ 21.66 Stock Options The Company has awarded stock options to its non-employee directors and officers. As of March 26, 2022 and March 27, 2021, there were 317,033 and 388,409 stock options outstanding, respectively. During the three months ended March 26, 2022, there were no stock options granted, 15,000 stock options exercised, and no stock options forfeited. The weighted-average exercise price of stock options outstanding was $9.92 per share as of March 26, 2022. All outstanding stock options will expire in fiscal years 2023 and 2024. At March 26, 2022 and March 27, 2021, there were zero and 63,334 non-vested stock options outstanding, respectively. At March 26, 2022, there was no remaining unrecognized compensation cost related to vested or non-vested stock options. The following table summarizes information about stock options outstanding and exercisable at March 26, 2022: Options Outstanding and Exercisable Range of exercise prices Number Weighted average exercise price Weighted average remaining contractual life (in years) $0.00 - $10.89 204,500 $ 8.80 1.3 $10.90 - $12.01 112,533 11.97 2.1 317,033 $ 9.92 Stock Compensation Expense The Company recorded $5.4 million and $2.6 million during the three months ended March 26, 2022 and March 27, 2021, respectively. The Company has stock based incentive plans at various operating companies which are recorded as liabilities. The total aggregate liability for these plans as of March 26, 2022 is $2.6 million, recorded in "Accounts payable and accrued expenses" on the Condensed Consolidated Balance Sheets. During the three months ended March 26, 2022, total expense recognized related to these plans was $1.2 million. Future expense to be recognized for these plans as of March 26, 2022 is $21.5 million.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 26, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company considers any of its directors, executive officers or beneficial owners of more than 5% of our common stock, or any member of the immediate family of the foregoing persons, to be related parties. Messrs. Kahn and Laurence Brian Kahn and Vintage Capital Management, LLC and its affiliates ("Vintage"), in aggregate, held approximately 31% of the aggregate voting power of the Company through their ownership of common stock as of March 26, 2022. Brian Kahn and Andrew Laurence are principals of Vintage. Mr. Kahn is a member of the Board of Directors, President and Chief Executive Officer of the Company. Mr. Laurence is an Executive Vice President of the Company, served as a member of the Company's Board of Directors until the Company's annual meeting of stockholders in May 2021 and served as the Company's Chairman of the Board until March 31, 2020. Buddy's Franchises. Mr. Kahn's brother-in-law owns seven Buddy's franchises. All transactions between the Company's Buddy's segment and Mr. Kahn's brother-in-law are conducted on a basis consistent with other franchisees. Tax Receivable Agreement The Company previously had a non-controlling interest in New Holdco as a result of its acquisition of Buddy's on July 10, 2019. On April 1, 2020, the Company redeemed all of the non-controlling interest units. On July 10, 2019, the Company entered into the Tax Receivable Agreement with the then-existing non-controlling interest holders, which comprised the former equity holders of Buddy's (the "Buddy's Members") that provides for the payment by the Company to the non-controlling interest holders of 40% of the amount of any tax benefits that the Company actually realizes as a result of increases in the tax basis of the net assets of New Holdco resulting from any redemptions or exchanges of New Holdco units. Amounts due under

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 26, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of operations, the Company may become a party to legal proceedings. Based upon information currently available, management believes that such legal proceedings, individually or in the aggregate, will not have a material adverse effect on the Company's business, financial condition, cash flows, or results of operations. The Company is party to claims and lawsuits that are considered to be ordinary, routine litigation incidental to the business, including claims and lawsuits concerning the fees charged to customers for various products and services, relationships with franchisees, intellectual property disputes, employment matters, and contract disputes. Although the Company cannot provide assurance that it will ultimately prevail in each instance, it believes the amount, if any, it will be required to pay in the discharge of liabilities or settlements in these claims will not have a material adverse impact on its consolidated results of operations, financial position, or cash flows. Guarantees The Company remains secondarily liable under various real estate leases that were assigned to franchisees who acquired Pet Supplies Plus stores from the Company. In the event of the failure of an acquirer to pay lease payments, the Company could be obligated to pay the remaining lease payments which extend through 2033 and in aggregate are $25.4 million and $22.9 million as of March 26, 2022 and December 25, 2021, respectively. If the Company is required to make payments under these guarantees, the Company could seek to recover those amounts from the franchisees or in some cases their affiliates. The Company believes that payment under these guarantees is remote as of March 26, 2022.

Segments (Notes)

Segments (Notes)	3 Months Ended
	Mar. 26, 2022
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	(13) Segments The Company's operations are conducted in six reportable business segments: Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy's, and Sylvan. The Company defines its segments as those operations which results its chief operating decision maker ("CODM") regularly reviews to analyze performance and allocate resources. The results of operations of Pet Supplies Plus are included in the Company's results of operations beginning on March 11, 2021, the results of operations of Sylvan are included in the Company's results of operations beginning on September 27, 2021, and the results of operations of Badcock are included in the Company's results of operations beginning on November 22, 2021. The Vitamin Shoppe segment is an omnichannel specialty retailer and wellness lifestyle company with the mission of providing customers with the most trusted products, guidance, and services to help them become their best selves, however they define it. The Vitamin Shoppe segment offers one of the largest varieties of products among vitamin, mineral and supplement retailers. The broad product offering enables the company to provide customers with a depth of selection of products that may not be readily available at other specialty retailers or mass merchants, such as discount stores, supermarkets, drug stores and wholesale clubs. The Vitamin Shoppe continues to focus on improving the customer experience through the roll-out of initiatives including increasing customer engagement and personalization, redesigning the omnichannel experience (including in stores as well as through the internet and mobile devices), growing private brands and improving the effectiveness of pricing and promotions. Vitamin Shoppe is headquartered in Secaucus, New Jersey. The Pet Supplies Plus segment is a leading omnichannel retail chain and franchisor of pet supplies and services. Pet Supplies Plus has a diversified revenue model comprised of Company-owned store revenue, franchise royalties and revenue generated by the wholesale distribution of products to its franchisees. Pet Supplies Plus offers a curated selection of premium brands, proprietary private labels and specialty products with retail price parity with online players. Additionally, Pet Supplies Plus offers grooming, pet wash and other services in most of its locations. The Pet Supplies Plus segment operates under the "Pet Supplies Plus" brand and is headquartered in Livonia, Michigan. The Badcock segment is a specialty retailer of furniture, appliances, bedding, electronics, home office equipment, accessories and seasonal items in a showroom format. Additionally, Badcock offers multiple and flexible payment solutions and credit options through its consumer financing services. Badcock expects to shift its consumer financing business to third-party vendors in the future. The Badcock segment operates under the “Badcock Home Furniture & More" brand and is headquartered in Mulberry, Florida. The American Freight segment is a retail chain offering in-store and online access to furniture, mattresses, new and out-of-box home appliances and home accessories at discount prices. American Freight buys direct from manufacturers and sells direct in warehouse-style stores. By cutting out the middleman and keeping its overhead costs low, American Freight can offer quality products at low prices. American Freight provides customers with multiple payment options providing access to high-quality products and brand name appliances that may otherwise remain aspirational to some of its customers. American Freight also serves as a liquidation channel for major appliance vendors. American Freight operates specialty distribution centers that test every out-of-box appliance before it is offered for sale to customers. Customers typically are covered by the original manufacturer's warranty and are offered the opportunity to purchase a full suite of extended-service plans and services. The American Freight segment operates under the "American Freight" brand and is headquartered in Delaware, Ohio. The Buddy's segment is a specialty retailer of high quality, name brand consumer electronic, residential furniture, appliances and household accessories through rent-to-own agreements. The rental transaction allows customers the opportunity to benefit from the use of high-quality products under flexible rental purchase agreements without long-term obligations. The Buddy's segment operates under the "Buddy's" brand and is headquartered in Orlando, Florida. The Sylvan segment is an established and growing franchisor of supplemental education for Pre-K-12 students and families. Sylvan addresses the full range of student needs with a broad variety of academic curriculums delivered in an omnichannel format. The Sylvan platform provides franchisees with the ability to provide a range of services, including on premises, virtually, at a satellite location, and in the home. Sylvan is headquartered in Hunt Valley, Maryland. Total revenues by segment were as follows: Three Months Ended (In thousands) March 26, 2022 March 27, 2021 Total revenue: Vitamin Shoppe $ 310,953 $ 294,739 Pet Supplies Plus 301,214 51,309 Badcock 256,259 — American Freight 241,416 258,517 Buddy's 15,585 16,780 Sylvan 10,043 — Consolidated total revenue $ 1,135,470 $ 621,345 Operating income (loss) by segment were as follows: Three Months Ended (In thousands) March 26, 2022 March 27, 2021 Income (loss) from operations: Vitamin Shoppe $ 35,354 $ 33,275 Pet Supplies Plus 17,021 (4,169) Badcock 70,230 — American Freight 11,213 25,130 Buddy's 4,065 4,273 Sylvan 948 — Total Segments 138,831 58,509 Corporate (8,465) (5,533) Consolidated income (loss) from operations $ 130,366 $ 52,976 Total assets by segment were as follows: (In thousands) March 26, 2022 December 25, 2021 Total assets: Vitamin Shoppe $ 623,609 $ 596,964 Pet Supplies Plus 952,324 957,849 Badcock 923,710 1,062,310 American Freight 1,002,638 959,282 Buddy's 143,527 146,033 Sylvan 102,063 103,850 Total Segments 3,747,871 3,826,288 Corporate 105,538 86,883 Consolidated total assets $ 3,853,409 $ 3,913,171

Subsequent Event Subsequent Eve

Subsequent Event Subsequent Events (Notes)	3 Months Ended
	Mar. 26, 2022
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events On March 31, 2022, the Company completed the sale-leaseback of 35 retail Badcock locations for gross proceeds of approximately $94.0 million. The Company used $70.2 million of the proceeds to pay down the Badcock First Lien Term Loan. On April 15, 2022, the Company entered into a Purchase and Sale Agreement for the sale of certain parcels of land on which the Badcock segment operates its distribution centers and is entitled to receive approximately $150.0 million in cash at closing, subject to cer tain adjustments. The Company anticipates using most of the proceeds from the sale to repay a portion of its existing indebtedness. On April 26, 2022, the Company entered into a Purchase and Sale Agreement for the sale of the Badcock segment's corporate headquarters and is entitled to receive approximately $18.5 million in cash at closing, subject to cer tain adjustments. The Company anticipates using most of the proceeds from the sale to repay a portion of its existing indebtedness.

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 26, 2022
Accounting Policies [Abstract]
Description of Business	(1) Basis of Presentation
Basis of Presentation	Unless otherwise stated, references to the "Company," "we," "us," and "our" in this Quarterly Report on Form 10-Q (the "Quarterly Report") refer to Franchise Group, Inc. and its direct and indirect subsidiaries on a consolidated basis. The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the requirements of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the Company's Form 10-K for the year ended December 25, 2021 that was filed with the Securities and Exchange Commission (“SEC”) on February 23, 2022 (the “Form 10-K”).In the opinion of management, all adjustments (including those of a normal recurring nature) necessary for a fair presentation of such condensed consolidated financial statements in accordance with GAAP have been recorded. The December 25, 2021 balance sheet information was derived from the audited financial statements as of that date.
New Accounting Pronouncements, Policy	Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, " Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ", which changes how companies will measure credit losses for most financial assets and certain other instruments that aren't measured at fair value through net income. The standard replaces the "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost (which generally will result in the earlier recognition of allowances for losses) and requires companies to record allowances for available-for-sale debt securities, rather than reduce the carrying amount. In addition, companies will have to disclose significantly more information, including information used to track credit quality by year of origination, for most financing receivables. The ASU should be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the standard is effective. The ASU is effective for the Company for the fiscal year beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ” This standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The ASU is effective for the Company for the fiscal year beginning January 1, 2023. The Company is currently evaluating the impact of the adoption of this standard to its consolidated financial statements.

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 26, 2022
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The table below summarizes the unaudited preliminary estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Badcock Acquisition on November 22, 2021. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in an adjustment to the preliminary values presented below. In the three months ended March 26, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were adjusted, which resulted in an increase in the bargain purchase gain of $0.1 million. The increase was primarily due to an increase in operating lease right-of use assets of $3.9 million related to market lease terms partially offset by a $1.1 million increase in other long-term liabilities for deferred taxes and a net working capital true-up of $2.9 million. The Company expects to complete the purchase price allocation as soon as reasonably possible but not to exceed one year from the date of completion of the Badcock Acquisition. (In thousands) Preliminary Cash and cash equivalents $ 23,413 Inventories, net 130,045 Accounts receivable 411,268 Other current assets 5,023 Property, plant, and equipment 233,938 Operating lease right-of-use assets 55,626 Other non-current assets 2,506 Total assets 861,819 Current operating lease liabilities 12,070 Accounts payable and accrued expenses 71,436 Other current liabilities 18,942 Current installments of long-term obligations 5,261 Long-term obligations, excluding current installments 7,247 Non-current operating lease liabilities 39,599 Other long-term liabilities 26,504 Total liabilities 181,059 Bargain purchase gain (132,110) Consideration transferred $ 548,650
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments	The following unaudited consolidated pro forma summary has been prepared by adjusting the Company's historical data to give effect to the Acquisitions as if they had occurred on December 25, 2021. Pro forma (Unaudited) Three Months Ended (In thousands) March 26, 2022 March 27, 2021 Revenue $ 1,135,469 $ 1,052,002 Net income 12,366 55,276 Basic net income per share $ 0.31 $ 1.38 Diluted net income per share $ 0.30 $ 1.35

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the three months ended March 26, 2022 are as follows: Vitamin Shoppe Pet Supplies Plus American Freight Buddy's Sylvan Total Balance as of December 25, 2021 $ 1,277 $ 335,875 $ 370,829 $ 79,099 $ 19,456 $ 806,536 Acquisitions — 937 — — — 937 Disposals and purchase accounting adjustments — (726) — — (50) (776) Balance as of March 26, 2022 $ 1,277 $ 336,086 $ 370,829 $ 79,099 $ 19,406 $ 806,697
Schedule of the amortizable other intangible assets	Components of intangible assets as of March 26, 2022 and December 25, 2021 were as follows: March 26, 2022 (In thousands) Gross carrying amount Accumulated Net carrying amount Indefinite lived tradenames $ 222,687 $ — $ 222,687 Intangible assets Franchise and dealer agreements $ 95,865 $ (8,379) $ 87,486 Customer contracts 42,414 (6,128) 36,286 Other intangible assets 1,929 (479) 1,450 Total intangible assets $ 140,208 $ (14,986) $ 125,222 December 25, 2021 (In thousands) Gross carrying amount Accumulated amortization Net carrying amount Indefinite lived tradenames $ 222,687 $ — $ 222,687 Intangible assets Franchise and dealer agreements $ 95,865 $ (6,571) $ 89,294 Customer contracts 42,414 (5,215) 37,199 Other intangible assets 1,836 (378) 1,458 Total intangible assets $ 140,115 $ (12,164) $ 127,951

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	3 Months Ended
	Mar. 26, 2022
Debt Disclosure [Abstract]
Schedule of Debt	For details regarding the Company's long-term debt obligations, refer to “Note 9. - Long-Term Obligations” in the Form 10-K. Long-term obligations at March 26, 2022 and December 25, 2021 were as follows: (In thousands) March 26, 2022 December 25, 2021 Term loans, net of debt issuance costs First lien term loan, due March 10, 2026 $ 791,461 $ 790,057 Second lien term loan, due September 10, 2026 287,729 287,188 Badcock first lien term loan, due November 22, 2023 171,389 201,530 Badcock second lien term loan, due November 22, 2023 — 146,616 Total term loans, net of debt issuance costs 1,250,579 1,425,391 Revolving credit facilities 87,000 20,000 Debt securitized by accounts receivable, net of discount 422,053 407,502 Other long-term obligations 9,475 10,537 Finance lease liabilities 5,822 6,465 Total long-term obligations 1,774,929 1,869,895 Less current installments 487,957 486,170 Total long-term obligations, excluding current installments, net $ 1,286,972 $ 1,383,725

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 26, 2022
Equity [Abstract]
Schedule of computation of basic and diluted net income (loss) per share	The following table sets forth the calculations of basic and diluted net income (loss) per share: Three Months Ended (In thousands, except for share and per share amounts) March 26, 2022 March 27, 2021 Net income (loss) from continuing operations attributable to Franchise Group $ 12,317 $ (28,334) Less: Preferred dividend declared (2,128) (2,129) Adjusted net income (loss) from continuing operations available to Common Stockholders 10,189 (30,463) Net income from discontinued operations attributable to Franchise Group — 42,147 Adjusted net income (loss) available to Common Stockholders $ 10,189 $ 11,684 Weighted-average common stock outstanding 40,307,412 40,110,084 Net dilutive effect of stock options and restricted stock 800,381 — Weighted-average diluted shares outstanding 41,107,793 40,110,084 Basic net income (loss) per share: Continuing operations $ 0.25 $ (0.76) Discontinued operations — 1.05 Basic net income per share $ 0.25 $ 0.29 Diluted net income (loss) per share: Continuing operations $ 0.25 $ (0.76) Discontinued operations — 1.05 Diluted net income per share $ 0.25 $ 0.29

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	3 Months Ended
	Mar. 26, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the status of the RSUs as of and changes during the three months ended March 26, 2022: Number of RSUs Weighted average fair value at grant date Balance as of December 25, 2021 269,708 $ 27.92 Granted 114,039 42.21 Vested (51,602) 41.97 Canceled — — Balance as of March 26, 2022 332,145 $ 33.00

Organization and Significant _3

Organization and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Dec. 25, 2021	Feb. 21, 2021
Geographical concentration
Deferred Revenue	$ 72,757		$ 70,614
Intangible Assets, Net (Excluding Goodwill)	125,222		127,951
Assets	3,853,409		3,913,171
Deferred Revenue, Current	51,572		50,833
Liabilities	3,101,723		3,150,340
Retained Earnings (Accumulated Deficit)	270,609		286,987
Stockholders' Equity Attributable to Parent	751,686		762,831
Liabilities and Equity	3,853,409		$ 3,913,171
General and Administrative Expense	376,995	$ 225,545
Operating Income (Loss)	130,366	52,976
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	15,995	(31,185)
Income Tax Expense (Benefit)	3,678	(2,851)
Net Income (Loss) Attributable to Parent	12,317	$ 13,813
Revenues	$ 1,135,470
Liberty Tax Segment | Discontinued Operations, Held-for-sale
Geographical concentration
Disposal Group, Including Discontinued Operation, Consideration				$ 255,300

Acquisition (Details)

Acquisition (Details) - USD ($)	Feb. 22, 2022	Sep. 27, 2021	Mar. 27, 2021	Mar. 10, 2021	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Dec. 25, 2021	Nov. 22, 2021
Revenues					$ 1,135,470,000
Net Income (Loss) Attributable to Parent					12,317,000	$ 13,813,000
Goodwill					806,697,000		$ 806,697,000	$ 806,536,000
Long-term Debt, Current Maturities					487,957,000		487,957,000	486,170,000
Long-term Debt, Excluding Current Maturities					1,286,972,000		1,286,972,000	1,383,725,000
Business Combination, Bargain Purchase, Gain Recognized, Amount							132,100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 82,877,000		$ 451,356,000
Finance Lease, Right-of-Use Asset, before Accumulated Amortization				1,700,000
Business Acquisition, Pro Forma Revenue					1,135,469,000	1,052,002,000
Business Acquisition, Pro Forma Net Income (Loss)					$ 12,366,000	$ 55,276,000
Basic Earnings Per Share, Pro Forma					$ 0.31	$ 1.38
Diluted Earnings Per Share Pro Forma					$ 0.30	$ 1.35
Capitalized Computer Software, Gross		25,300,000
Operating Lease, Right-of-Use Asset					$ 713,820,000		713,820,000	714,741,000
Operating Lease, Liability, Current					173,295,000		173,295,000	173,101,000
Financing Receivable, before Allowance for Credit Loss, Noncurrent					11,580,000		11,580,000	$ 12,183,000
Asset-backed Securities, Securitized Loans and Receivables
Financing Receivable, before Allowance for Credit Loss, Noncurrent					57,900,000		57,900,000
Fair Value Adjustment to Inventory
Inventory, Noncurrent, Fair Value Disclosure					2,300,000		2,300,000
Acquisition-related Costs
Business Combination, Acquisition Related Costs					4,900,000
Badcock
Revenues					256,259,000	$ 0
Business Combination, Bargain Purchase, Gain Recognized, Amount					(132,110,000)
Pet Supplies Plus
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents				2,131,000
Adjustment, Lease Right of Use				12,400,000
Noncash or Part Noncash Acquisition, Investments Acquired				104,400,000
Business Combination, Consideration Transferred	$ 600,000			451,300,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other				39,844,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory				118,600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				75,616,000
Goodwill				335,995,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Right-Of-Use Asset				151,243,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets				6,393,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets				935,622,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Current				25,405,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable				82,237,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent				114,292,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				9,761,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				484,266,000
Business Combination, Acquisition Related Costs			$ 600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restricted Cash				400,000
Payments to Acquire Businesses, Gross	$ 900,000
Noncash or Part Noncash Acquisition, Investments Acquired				101,400,000
Business Combination, Accrued Expense				1,606,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt				3,507,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt				247,458,000
Goodwill, Purchase Accounting Adjustments				100,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Accrued Income Taxes				100,000
Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents									$ 23,413,000
Business Combination, Consideration Transferred				548,700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other									130,045,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory									411,268,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment									5,023,000
Goodwill									233,938,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Right-Of-Use Asset									55,626,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets									2,506,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets									861,819,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Current									12,070,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable									71,436,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other									18,942,000
Long-term Debt, Current Maturities									5,261,000
Long-term Debt, Excluding Current Maturities									7,247,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent									39,599,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other									26,504,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities									181,059,000
Business Combination, Bargain Purchase, Gain Recognized, Amount					100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net									548,650,000
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation									51,700,000
Purchase Accounting Adjustments					2,900,000
Badcock | Other Noncurrent Liabilities
Purchase Accounting Adjustments					1,100,000
Badcock | Operating Lease Right of Use Asset
Purchase Accounting Adjustments					3,900,000
Sylvan Learning
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 82,900,000		$ 82,900,000
Sylvan
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		4,364,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		3,592,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		26,324,000
Goodwill		19,406,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		185,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		101,144,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		6,072,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent		1,984,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		9,320,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		18,267,000
Noncash or Part Noncash Acquisition, Investments Acquired		19,412,000
Fixtures and Equipment, Gross		300,000
Leasehold Improvements, Gross		700,000
Intangible Assets, Current		24,987,000
Operating Lease, Right-of-Use Asset		2,874,000
Operating Lease, Liability, Current		891,000
Sylvan | Proprietary Content
Noncash or Part Noncash Acquisition, Investments Acquired		1,100,000
Sylvan | Franchise Agreements [Member]
Noncash or Part Noncash Acquisition, Investments Acquired		$ 18,300,000
Leasehold Improvements [Member] | Pet Supplies Plus
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				33,500,000
Leasehold Improvements [Member] | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment									23,700,000
Furniture, Fixtures, And Equipment [Member] | Pet Supplies Plus
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				37,000,000
Furniture, Fixtures, And Equipment [Member] | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment									93,000,000
Construction in Progress [Member] | Pet Supplies Plus
Machinery and Equipment, Gross				3,500,000
Construction in Progress [Member] | Badcock
Machinery and Equipment, Gross									1,400,000
Land and Land Improvements | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment									33,400,000
Building and Building Improvements | Badcock
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment									$ 93,100,000
Franchise Rights [Member] | Pet Supplies Plus
Noncash or Part Noncash Acquisition, Investments Acquired				67,100,000
Customer Relationships | Pet Supplies Plus
Noncash or Part Noncash Acquisition, Investments Acquired				$ 34,300,000

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	Apr. 26, 2022	Apr. 15, 2022	Feb. 21, 2021	May 05, 2022	Dec. 25, 2021	Mar. 31, 2022	Mar. 26, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets Held-for-sale, Not Part of Disposal Group, Current					$ 0		$ 203,679
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale Leaseback Transaction, Net Book Value						$ 94,000
Proceeds from Sale of Real Estate	$ 18,500	$ 150,000		$ 150,000
Badcock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Other Receivables					$ 400,000
Liberty Tax Segment | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration			$ 255,300
Proceeds from Divestiture of Businesses			$ 181,200
Disposal Group, Including Discontinued Operation, Consideration, Number Of Proportional Voting Shares, Shares (at least) (in shares)			74.1

Divestitures - Summary of State

Divestitures - Summary of Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0	$ 42,147
Discontinued Operations, Held-for-sale | Liberty Tax [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	0	76,480
Selling, general, and administrative expenses	0	34,061
Income from operations	0	42,419
Other	0	153
Interest expense, net	0	(11)
Income before income taxes	0	42,561
Income tax expense	0	414
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	$ 0	$ 42,147

Divestitures - Summary of Cash

Divestitures - Summary of Cash Flow Information (Details) - Discontinued Operations, Held-for-sale - Liberty Tax [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash flows provided by operating activities from discontinued operations	$ 0	$ 15,787
Cash flows provided by investing activities from discontinued operations	$ 0	$ 2,058

Accounts and Notes Receivables

Accounts and Notes Receivables (Details) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Schedule of Activity Related to Notes Receivable
Accounts and Other Receivables, Net, Current	$ 82,848	$ 86,087
Notes Receivable, Related Parties, Current	1,506	1,681
Interest Receivable	55	54
Income taxes receivable	27,149	32,448
Accounts Receivable, Allowance for Credit Loss, Current	(1,190)	(1,572)
Total Receivables, Current, Net	110,368	118,698
Financing Receivable, before Allowance for Credit Loss, Noncurrent	11,580	12,183
Accounts Receivable, Allowance for Credit Loss, Noncurrent	(424)	(428)
Receivables, Net, Non-current	11,156	11,755
Receivables, Fair Value Disclosure	121,524	$ 130,453
Other Current Assets
Schedule of Activity Related to Notes Receivable
Financing Receivable, Unamortized Purchase Premium (Discount)	(76,400)
Asset-backed Securities, Securitized Loans and Receivables
Schedule of Activity Related to Notes Receivable
Financing Receivable, before Allowance for Credit Loss, Noncurrent	57,900
Financing Receivable, before Allowance for Credit Loss, Current	463,300
Other Noncurrent Assets
Schedule of Activity Related to Notes Receivable
Financing Receivable, Unamortized Purchase Premium (Discount)	$ (9,600)

Analysis of Past Due Receivable

Analysis of Past Due Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 25, 2021	Mar. 26, 2022
Aging of accounts and notes receivable
Financing Receivable, before Allowance for Credit Loss, Noncurrent	$ 12,183	$ 11,580
Badcock
Aging of accounts and notes receivable
Proceeds from Sale of Other Receivables	$ 400,000
Asset-backed Securities, Securitized Loans and Receivables
Aging of accounts and notes receivable
Financing Receivable, before Allowance for Credit Loss, Current		463,300
Financing Receivable, before Allowance for Credit Loss, Noncurrent		57,900
Other Current Assets
Aging of accounts and notes receivable
Financing Receivable, Unamortized Purchase Premium (Discount)		(76,400)
Other Noncurrent Assets
Aging of accounts and notes receivable
Financing Receivable, Unamortized Purchase Premium (Discount)		$ (9,600)

Revenue Revenue (Details)

Revenue Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Dec. 25, 2021
Revenues	$ 1,135,470
Interest income	65,537
Revenues:
Lease Income	8,024
Deferred Revenue	72,757		$ 70,614
Deferred Revenue, Noncurrent	10,134		8,400
Contract with Customer, Liability	36,515	$ 37,626
Accounts and Other Receivables, Net, Current	82,848		86,087
Financing Receivable, before Allowance for Credit Loss	1,505		13,864
Vitamin Shoppe [Member]
Revenues	310,953	294,739
Revenues:
Lease Income	0	0
American Freight [Member]
Revenues	241,416	258,517
Interest income	195	295
Revenues:
Lease Income	0	0
Pet Supplies Plus
Revenues	301,214	51,309
Interest income	73	13
Revenues:
Lease Income	0	0
Buddy's [Member]
Revenues	15,585	16,780
Interest income	0
Revenues:
Lease Income	8,024	8,953
Sylvan
Revenues	10,043
Revenues:
Lease Income	0
Badcock
Revenues	256,259	0
Interest income	65,269
Revenues:
Lease Income	0
Retail [Member]
Revenues	852,215
Retail [Member] | Vitamin Shoppe [Member]
Revenues	310,430	294,739
Retail [Member] | American Freight [Member]
Revenues	211,513	239,058
Retail [Member] | Pet Supplies Plus
Revenues	162,549	31,365
Retail [Member] | Buddy's [Member]
Revenues	1,070	1,368
Retail [Member] | Sylvan
Revenues	11
Retail [Member] | Badcock
Revenues	166,642
Wholesale
Revenues	126,949
Wholesale | Vitamin Shoppe [Member]
Revenues	175
Wholesale | American Freight [Member]
Revenues	3,542
Wholesale | Pet Supplies Plus
Revenues	123,232	17,287
Wholesale | Buddy's [Member]
Revenues	0
Wholesale | Sylvan
Revenues	0
Wholesale | Badcock
Revenues	0
Product [Member]
Revenues	979,164
Product [Member] | Vitamin Shoppe [Member]
Revenues	310,605	294,739
Product [Member] | American Freight [Member]
Revenues	215,055	239,058
Product [Member] | Pet Supplies Plus
Revenues	285,781	48,652
Product [Member] | Buddy's [Member]
Revenues	1,070	1,368
Product [Member] | Sylvan
Revenues	11
Product [Member] | Badcock
Revenues	166,642
Royalties and Advertising [Member]
Revenues	24,077
Royalties and Advertising [Member] | Vitamin Shoppe [Member]
Revenues	134
Royalties and Advertising [Member] | American Freight [Member]
Revenues	548	0
Royalties and Advertising [Member] | Pet Supplies Plus
Revenues	9,062	1,390
Royalties and Advertising [Member] | Buddy's [Member]
Revenues	4,824	4,555
Royalties and Advertising [Member] | Sylvan
Revenues	9,509
Royalties and Advertising [Member] | Badcock
Revenues	0
Financial Service [Member]
Revenues	8,175
Financial Service [Member] | Vitamin Shoppe [Member]
Revenues	0
Financial Service [Member] | American Freight [Member]
Revenues	8,175	8,579
Financial Service [Member] | Pet Supplies Plus
Revenues	0
Financial Service [Member] | Buddy's [Member]
Revenues	0
Financial Service [Member] | Sylvan
Revenues	0
Financial Service [Member] | Badcock
Revenues	0
Membership [Member]
Revenues	26,629
Membership [Member] | Vitamin Shoppe [Member]
Revenues	0
Membership [Member] | American Freight [Member]
Revenues	11,479	6,397
Membership [Member] | Pet Supplies Plus
Revenues	0
Membership [Member] | Buddy's [Member]
Revenues	1,604	1,806
Membership [Member] | Sylvan
Revenues	0
Membership [Member] | Badcock
Revenues	13,546
Service, Other [Member]
Revenues	23,864
Service, Other [Member] | Vitamin Shoppe [Member]
Revenues	214	0
Service, Other [Member] | American Freight [Member]
Revenues	5,964	4,188
Service, Other [Member] | Pet Supplies Plus
Revenues	6,298	1,254
Service, Other [Member] | Buddy's [Member]
Revenues	63	98
Service, Other [Member] | Sylvan
Revenues	523
Service, Other [Member] | Badcock
Revenues	10,802
Service [Member]
Revenues	148,282
Service [Member] | Vitamin Shoppe [Member]
Revenues	348	0
Service [Member] | American Freight [Member]
Revenues	26,361	19,459
Service [Member] | Pet Supplies Plus
Revenues	15,433	2,657
Service [Member] | Buddy's [Member]
Revenues	6,491	6,459
Service [Member] | Sylvan
Revenues	10,032
Service [Member] | Badcock
Revenues	89,617
Gift Cards And Loyalty Programs
Revenues:
Contract with Customer, Liability	8,417	$ 7,604
Franchise Fees
Revenues:
Contract with Customer, Liability	$ 17,691		$ 16,984

Revenue Revenue (Details 1)

Revenue Revenue (Details 1) - USD ($) $ in Thousands	Mar. 26, 2022	Dec. 25, 2021
Revenue from Contract with Customer [Abstract]
Deferred Revenue	$ 72,757	$ 70,614

Revenue Revenue (Details 2)

Revenue Revenue (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Revenues	$ 1,135,470
Lease Income	8,024
Interest income	65,537
Product [Member]
Revenues	979,164
Royalties and Advertising [Member]
Revenues	24,077
Financial Service [Member]
Revenues	8,175
Membership [Member]
Revenues	26,629
Service, Other [Member]
Revenues	23,864
Service [Member]
Revenues	148,282
Retail [Member]
Revenues	852,215
Wholesale
Revenues	126,949
Vitamin Shoppe [Member]
Revenues	310,953	$ 294,739
Lease Income	0	0
Vitamin Shoppe [Member] | Product [Member]
Revenues	310,605	294,739
Vitamin Shoppe [Member] | Royalties and Advertising [Member]
Revenues	134
Vitamin Shoppe [Member] | Financial Service [Member]
Revenues	0
Vitamin Shoppe [Member] | Membership [Member]
Revenues	0
Vitamin Shoppe [Member] | Service, Other [Member]
Revenues	214	0
Vitamin Shoppe [Member] | Service [Member]
Revenues	348	0
Vitamin Shoppe [Member] | Retail [Member]
Revenues	310,430	294,739
Vitamin Shoppe [Member] | Wholesale
Revenues	175
American Freight [Member]
Revenues	241,416	258,517
Lease Income	0	0
Interest income	195	295
American Freight [Member] | Product [Member]
Revenues	215,055	239,058
American Freight [Member] | Royalties and Advertising [Member]
Revenues	548	0
American Freight [Member] | Financial Service [Member]
Revenues	8,175	8,579
American Freight [Member] | Membership [Member]
Revenues	11,479	6,397
American Freight [Member] | Service, Other [Member]
Revenues	5,964	4,188
American Freight [Member] | Service [Member]
Revenues	26,361	19,459
American Freight [Member] | Retail [Member]
Revenues	211,513	239,058
American Freight [Member] | Wholesale
Revenues	3,542
Buddy's [Member]
Revenues	15,585	16,780
Lease Income	8,024	8,953
Interest income	0
Buddy's [Member] | Product [Member]
Revenues	1,070	1,368
Buddy's [Member] | Royalties and Advertising [Member]
Revenues	4,824	4,555
Buddy's [Member] | Financial Service [Member]
Revenues	0
Buddy's [Member] | Membership [Member]
Revenues	1,604	1,806
Buddy's [Member] | Service, Other [Member]
Revenues	63	98
Buddy's [Member] | Service [Member]
Revenues	6,491	6,459
Buddy's [Member] | Retail [Member]
Revenues	1,070	1,368
Buddy's [Member] | Wholesale
Revenues	0
Pet Supplies Plus
Revenues	301,214	51,309
Lease Income	0	0
Interest income	73	13
Pet Supplies Plus | Product [Member]
Revenues	285,781	48,652
Pet Supplies Plus | Royalties and Advertising [Member]
Revenues	9,062	1,390
Pet Supplies Plus | Financial Service [Member]
Revenues	0
Pet Supplies Plus | Membership [Member]
Revenues	0
Pet Supplies Plus | Service, Other [Member]
Revenues	6,298	1,254
Pet Supplies Plus | Service [Member]
Revenues	15,433	2,657
Pet Supplies Plus | Retail [Member]
Revenues	162,549	31,365
Pet Supplies Plus | Wholesale
Revenues	123,232	17,287
Consolidated
Revenues	$ 1,135,470	621,345
Lease Income		8,953
Interest income		308
Consolidated | Product [Member]
Revenues		583,817
Consolidated | Royalties and Advertising [Member]
Revenues		5,945
Consolidated | Membership [Member]
Revenues		8,203
Consolidated | Service, Other [Member]
Revenues		5,540
Consolidated | Service [Member]
Revenues		28,575
Consolidated | Retail [Member]
Revenues		566,530
Consolidated | Wholesale
Revenues		$ 17,287

Changes in the Carrying Amount

Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Dec. 25, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill, Acquired in Acquisition	$ 937
ERROR in label resolution.	140,208	$ 140,115
Finite-Lived Intangible Assets, Accumulated Amortization	(14,986)	(12,164)
Intangible Assets, Net (Excluding Goodwill)	125,222	127,951
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
ERROR in label resolution.	95,865	95,865
Finite-Lived Intangible Assets, Accumulated Amortization		(6,571)
Intangible Assets, Net (Excluding Goodwill)		89,294
Customer Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
ERROR in label resolution.	42,414	42,414
Finite-Lived Intangible Assets, Accumulated Amortization	(6,128)	(5,215)
Intangible Assets, Net (Excluding Goodwill)	36,286	$ 37,199
Pet Supplies Plus
Finite-Lived Intangible Assets [Line Items]
Goodwill, Acquired in Acquisition	$ 937

Components of Intangible Assets

Components of Intangible Assets (Details) - USD ($)	3 Months Ended
	Mar. 26, 2022	Dec. 25, 2021	Sep. 27, 2021	Mar. 10, 2021
Amortizable other intangible assets:
Gross carrying amount	$ 140,208,000	$ 140,115,000
Accumulated amortization	(14,986,000)	(12,164,000)
Net carrying amount	125,222,000	127,951,000
Goodwill	806,697,000	806,536,000
Goodwill, Acquired in Acquisition	937,000
Goodwill, Period Increase (Decrease)	(776,000)
American Freight [Member]
Amortizable other intangible assets:
Goodwill	370,829,000	370,829,000
Pet Supplies Plus
Amortizable other intangible assets:
Goodwill	336,086,000	335,875,000
Buddy's [Member]
Amortizable other intangible assets:
Goodwill	79,099,000	79,099,000
Sylvan Learning
Amortizable other intangible assets:
Goodwill	19,406,000	19,456,000
Trade Names [Member]
Amortizable other intangible assets:
Indefinite-Lived Trademarks	222,687,000	222,687,000
Franchise Agreements [Member]
Amortizable other intangible assets:
Accumulated amortization	(8,379,000)
Net carrying amount	87,486,000
Noncompete Agreements [Member]
Amortizable other intangible assets:
Gross carrying amount	95,865,000	95,865,000
Accumulated amortization		(6,571,000)
Net carrying amount		89,294,000
Reacquired rights
Amortizable other intangible assets:
Gross carrying amount	1,929,000	1,836,000
Accumulated amortization	(479,000)	(378,000)
Net carrying amount	1,450,000	1,458,000
Customer Contracts [Member]
Amortizable other intangible assets:
Gross carrying amount	42,414,000	42,414,000
Accumulated amortization	(6,128,000)	(5,215,000)
Net carrying amount	36,286,000	$ 37,199,000
American Freight [Member]
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition	0
Goodwill, Period Increase (Decrease)	0
Pet Supplies Plus
Amortizable other intangible assets:
Goodwill				$ 335,995,000
Goodwill, Acquired in Acquisition	937,000
Goodwill, Period Increase (Decrease)	(726,000)
Buddy's [Member]
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition	0
Goodwill, Period Increase (Decrease)	0
Buddy's [Member]
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition	0
Goodwill, Period Increase (Decrease)	0
Sylvan Learning
Amortizable other intangible assets:
Goodwill, Acquired in Acquisition	0
Sylvan
Amortizable other intangible assets:
Goodwill			$ 19,406,000
Goodwill, Period Increase (Decrease)	$ (50,000)

Long-Term Obligations (Details)

Long-Term Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Dec. 25, 2021
Credit facility
Debt Securitized by Accounts Receivable, Net of Discount	$ 422,053	$ 407,502
Other Long-term Debt	9,475	10,537
Long-term Debt and Lease Obligation, Including Current Maturities	1,774,929	1,869,895
Current Installments of Long-Term Obligation	487,957	486,170
Long-term Debt, Excluding Current Maturities	1,286,972	1,383,725
Debt Securitized by Accounts Receivable, Gross of Discount	349,300
Amortization of Debt Discount (Premium)	72,800
Asset-backed Securities, Securitized Loans and Receivables
Credit facility
Debt Securitized by Accounts Receivable, Gross of Discount	256,600
Term loan
Credit facility
Total debt	1,250,579	1,425,391
Revolver
Credit facility
Total debt	87,000	20,000
Finance Lease Liability [Member]
Credit facility
Total debt	5,822	6,465
Senior Secured Notes, First Lien Credit Agreement | Term loan
Credit facility
Debt Instrument, Face Amount	791,461	790,057
Senior Secured Notes, First Lien Credit Agreement | Badcock First Lien Term Loan
Credit facility
Debt Instrument, Face Amount	171,389	201,530
Senior Lien | Term loan
Credit facility
Debt Instrument, Face Amount	287,729	287,188
Senior Secured Notes, Second Lien Credit Agreement | Term loan
Credit facility
Debt Instrument, Face Amount	0	$ 146,616
Short-term Debt
Credit facility
Amortization of Debt Discount (Premium)	$ 53,500

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Jul. 10, 2019	Mar. 26, 2022	Mar. 27, 2021
Income Tax Disclosure [Abstract]
Tax Receivable Agreement, Payment to Non-controlling Holders	40.00%
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount		$ 0.230	$ 0.091

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Stockholders' Equity
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		$ (28,334)
Dividends, Preferred Stock	$ (2,128)	(2,129)
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic	10,189	(30,463)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	42,147
Net Income (Loss) Available to Common Stockholders, Basic	$ 10,189	$ 11,684
Incremental Common Shares Attributable to Dilutive Effect of Options and Restricted Stock Units	800,381	0
Weighted Average Number of Shares Outstanding, Diluted	41,107,793	40,110,084
Basic	$ 0.25	$ (0.76)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	1.05
Earnings Per Share, Basic	0.25	0.29
Basic	0.25	(0.76)
Diluted	0	1.05
Earnings Per Share, Diluted	$ 0.25	$ 0.29
Common Class A [Member]
Stockholders' Equity
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$ 12,317
Weighted Average Number of Shares Outstanding, Basic and Diluted	40,307,412	40,110,084
Earnings Per Share, Basic	$ 0.25
Earnings Per Share, Basic and Diluted		$ 0.29

Stock Compensation Plans (Detai

Stock Compensation Plans (Details)	3 Months Ended
	Mar. 26, 2022$ / sharesshares
Restricted Stock Units
Nonvested stock option activity, Nonvested options
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | shares	269,708
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | shares	114,039
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	(51,602)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares	332,145
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value | $ / shares	$ 27.92
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value | $ / shares	42.21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	41.97
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value | $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value | $ / shares	$ 33
Performance Shares
Nonvested stock option activity, Nonvested options
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | shares	706,260
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | shares	101,366
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares	807,626
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value | $ / shares	$ 19.90
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value | $ / shares	42.41
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value | $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value | $ / shares	$ 22.72
Performance Shares | MegaGrant
Nonvested stock option activity, Nonvested options
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance | shares	826,926
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | shares	70,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares	896,926
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value | $ / shares	$ 20.13
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value | $ / shares	39.67
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value | $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value | $ / shares	$ 21.66
Share-based Payment Arrangement, Option [Member]
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	317,033
Weighted average exercise price (in dollars per share) | $ / shares	$ 9.92
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range One [Member]
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	204,500
Weighted average exercise price (in dollars per share) | $ / shares	$ 8.80
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term	1 year 3 months 18 days
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range Two [Member]
Nonvested stock option activity, Weighted average exercise price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	112,533
Weighted average exercise price (in dollars per share) | $ / shares	$ 11.97
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term	2 years 1 month 6 days

Stock Compensation Plans (Det_2

Stock Compensation Plans (Details 2) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
stock awards expense [Member]
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 21.5
Share-based Payment Arrangement, Expense	5.4	$ 2.6
stock awards expense [Member] | Accounts Payable and Accrued Liabilities
Stock options outstanding and exercisable
Share-based Payment Arrangement, Expense	$ 1.2
Share-based Payment Arrangement, Option [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	317,033
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(15,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 9.92
Outstanding at the beginning of the period (in shares)	0	63,334
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range One [Member]
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	204,500
Share-based Payment Arrangement, Option [Member] | Exercise Price, Range two
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	112,533
Restricted Stock Units
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 8.8
Restricted Stock Units | Accounts Payable and Accrued Liabilities
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	2.6
Performance Shares
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	11.7
MegaGrant
Stock options outstanding and exercisable
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 15.2
Stock Option Plan
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	317,033	388,409
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0

Restricted Stock Units (Details

Restricted Stock Units (Details 3) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 26, 2022	Dec. 25, 2021
Restricted Stock Units
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	114,039
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	332,145	269,708
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 42.21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	51,602
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 41.97
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 33	$ 27.92
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 8.8
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 42.21
Performance Shares
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	101,366
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	807,626	706,260
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 42.41
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 22.72	$ 19.90
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 11.7
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 42.41
Performance Shares | MegaGrant
Restricted Cash and Cash Equivalents Items [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	70,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	896,926	826,926
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 39.67
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	21.66	$ 20.13
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 39.67

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	Jul. 10, 2019	Jun. 27, 2020	Mar. 26, 2022
Related Party Transaction [Line Items]
Tax Receivable Agreement, Payment to Non-controlling Holders	40.00%
Tax Receivable Agreement, Payment to Non-controlling Holders			$ 17.3
Vintage RTO, L.P. ownership [Member]
Related Party Transaction [Line Items]
aggregate voting power			31.00%
Payment to Noncontrolling Holders [Member]
Related Party Transaction [Line Items]
Tax Receivable Agreement, Payment to Non-controlling Holders		40.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 26, 2022USD ($)
Property Lease Guarantee
Commitments and contingencies
Loss Contingency, Estimate of Possible Loss	$ 25.4

Segments (Details)

Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Dec. 25, 2021
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ 130,366	$ 52,976
Goodwill	806,697		$ 806,536
Assets	3,853,409		3,913,171
Revenues	1,135,470
Vitamin Shoppe [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	35,354	33,275
Goodwill	1,277		1,277
Assets	623,609		596,964
Revenues	310,953	294,739
American Freight [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	11,213	25,130
Goodwill	370,829		370,829
Assets	1,002,638		959,282
Revenues	241,416	258,517
Pet Supplies Plus
Segment Reporting Information [Line Items]
Operating Income (Loss)	17,021	(4,169)
Goodwill	336,086		335,875
Assets	952,324		957,849
Revenues	301,214	51,309
Buddy's [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	4,065	4,273
Goodwill	79,099		79,099
Assets	143,527		146,033
Revenues	15,585	16,780
Overhead [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(8,465)	(5,533)
Badcock
Segment Reporting Information [Line Items]
Operating Income (Loss)	70,230	0
Assets	923,710		1,062,310
Revenues	256,259	0
Sylvan Learning
Segment Reporting Information [Line Items]
Operating Income (Loss)	948	0
Goodwill	19,406		19,456
Assets	102,063		103,850
Revenues	10,043	0
Consolidated
Segment Reporting Information [Line Items]
Revenues	1,135,470	621,345
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	138,831	$ 58,509
Assets	3,747,871		3,826,288
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Assets	$ 105,538		$ 86,883

Subsequent Event Subsequent E_2

Subsequent Event Subsequent Events (Details) - Subsequent Event - USD ($) $ in Millions	Apr. 26, 2022	Apr. 15, 2022	Mar. 31, 2022	May 05, 2022
Subsequent Event [Line Items]
Sale Leaseback Transaction, Net Book Value			$ 94
Proceeds from Sale of Real Estate	$ 18.5	$ 150		$ 150
Badcock First Lien Term Loan
Subsequent Event [Line Items]
Extinguishment of Debt, Amount			$ 70.2

Uncategorized Items - frg-20220

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 151,502,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 292,714,000