Sprouts Farmers Market (SFM) 10-Q 3 Aug 22 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 03, 2022	Aug. 01, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 03, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	SFM
Entity Registrant Name	Sprouts Farmers Market, Inc.
Entity Central Index Key	0001575515
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--01-01
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		107,455,274
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.001 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity File Number	001-36029
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0331600
Entity Address, Address Line One	5455 East High Street
Entity Address, Address Line Two	Suite 111
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85054
City Area Code	480
Local Phone Number	814-8016
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
Current assets:
Cash and cash equivalents	$ 288,965		$ 245,287
Accounts receivable, net	13,260		21,574
Inventories	292,862		265,387
Prepaid expenses and other current assets	49,520		35,468
Total current assets	644,607		567,716
Property and equipment, net of accumulated depreciation	690,460		716,029
Operating lease assets, net	1,083,183		1,072,019
Intangible assets, net of accumulated amortization	184,960		184,960
Goodwill	368,878		368,878
Other assets	15,236		13,513
Total assets	2,987,324		2,923,115
Current liabilities:
Accounts payable	173,687		145,901
Accrued liabilities	138,659		155,996
Accrued salaries and benefits	48,222		58,743
Current portion of operating lease liabilities	153,651		151,755
Current portion of finance lease liabilities	1,130		1,078
Total current liabilities	515,349		513,473
Long-term operating lease liabilities	1,101,148		1,095,909
Long-term debt and finance lease liabilities	259,219		259,656
Other long-term liabilities	38,253		36,306
Deferred income tax liability	59,665		57,895
Total liabilities	1,973,634		1,963,239
Commitments and contingencies (Note 6)
Stockholders’ equity:
Undesignated preferred stock; $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	0		0
Common stock, $0.001 par value; 200,000,000 shares authorized,107,967,677 shares issued and outstanding, July 3, 2022; 111,114,374 shares issued and outstanding, January 2, 2022	108		111
Additional paid-in capital	715,331		704,701
Accumulated other comprehensive income (loss)	193		(3,758)
Retained earnings	298,058		258,822
Total stockholders’ equity	1,013,690	$ 1,011,974	959,876
Total liabilities and stockholders’ equity	$ 2,987,324		$ 2,923,115

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 03, 2022	Jan. 02, 2022
Statement of Financial Position [Abstract]
Undesignated preferred stock, par value	$ 0.001	$ 0.001
Undesignated preferred stock, shares authorized	10,000,000	10,000,000
Undesignated preferred stock, shares issued	0	0
Undesignated preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	107,967,677	111,114,374
Common stock, shares outstanding	107,967,677	111,114,374

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Income Statement [Abstract]
Net sales	$ 1,595,482	$ 1,521,993	$ 3,236,643	$ 3,097,440
Cost of sales	1,015,125	971,912	2,044,538	1,961,185
Gross profit	580,357	550,081	1,192,105	1,136,255
Selling, general and administrative expenses	462,110	436,420	922,020	876,082
Depreciation and amortization (exclusive of depreciation included in cost of sales)	31,244	30,430	63,064	61,659
Store closure and other costs, net	493	(419)	870	1,629
Income from operations	86,510	83,650	206,151	196,885
Interest expense, net	2,658	2,938	5,697	5,929
Income before income taxes	83,852	80,712	200,454	190,956
Income tax provision	21,855	19,698	50,150	46,894
Net income	$ 61,997	$ 61,014	$ 150,304	$ 144,062
Net income per share:
Basic	$ 0.57	$ 0.52	$ 1.37	$ 1.22
Diluted	$ 0.57	$ 0.52	$ 1.36	$ 1.22
Weighted average shares outstanding:
Basic	109,067	117,246	109,985	117,645
Diluted	109,619	117,831	110,762	118,265

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 61,997	$ 61,014	$ 150,304	$ 144,062
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on cash flow hedging activities, net of income tax of $778, $685, $2,018 and $1,485	2,248	1,981	5,834	4,295
Reclassification of net gains (losses) on cash flow hedges to net income, net of income tax of ($274), ($370), ($651) and ($740)	(792)	(1,070)	(1,883)	(2,140)
Total other comprehensive income (loss)	1,456	911	3,951	2,155
Comprehensive income	$ 63,453	$ 61,925	$ 154,255	$ 146,217

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Statement of Comprehensive Income [Abstract]
Income tax expenses (Benefit) on cash flow hedging activities	$ 778	$ 685	$ 2,018	$ 1,485
Income tax expenses (Benefit) for reclassification of net gains (losses) on cash flow hedges	$ (274)	$ (370)	$ (651)	$ (740)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Jan. 03, 2021	$ 881,293	$ 118	$ 686,648	$ 203,001	$ (8,474)
Beginning Balance, Shares at Jan. 03, 2021		117,953,435
Net income	144,062			144,062
Other comprehensive income (loss)	2,155				2,155
Issuance of shares under stock plans	1,246		1,246
Issuance of shares under stock plans, Shares		508,014
Repurchase and retirement of common stock	(87,484)	$ 3		(87,481)
Repurchase and retirement of common stock, Shares		(3,280,617)
Share-based compensation	7,851		7,851
Ending Balance at Jul. 04, 2021	949,123	$ 115	695,745	259,582	(6,319)
Ending Balance, Shares at Jul. 04, 2021		115,180,832
Beginning Balance at Apr. 04, 2021	966,870	$ 118	691,142	282,840	(7,230)
Beginning Balance, Shares at Apr. 04, 2021		118,194,576
Net income	61,014			61,014
Other comprehensive income (loss)	911				911
Issuance of shares under stock plans	365		365
Issuance of shares under stock plans, Shares		136,905
Repurchase and retirement of common stock	(84,275)	$ (3)		(84,272)
Repurchase and retirement of common stock, Shares		(3,150,649)
Share-based compensation	4,238		4,238
Ending Balance at Jul. 04, 2021	949,123	$ 115	695,745	259,582	(6,319)
Ending Balance, Shares at Jul. 04, 2021		115,180,832
Beginning Balance at Jan. 02, 2022	959,876	$ 111	704,701	258,822	(3,758)
Beginning Balance, Shares at Jan. 02, 2022		111,114,374
Net income	150,304			150,304
Other comprehensive income (loss)	3,951				3,951
Issuance of shares under stock plans	2,710		2,710
Issuance of shares under stock plans, Shares		732,161
Repurchase and retirement of common stock	(111,071)	$ (3)		(111,068)
Repurchase and retirement of common stock, Shares		(3,878,858)
Share-based compensation	7,920		7,920
Ending Balance at Jul. 03, 2022	1,013,690	$ 108	715,331	298,058	193
Ending Balance, Shares at Jul. 03, 2022		107,967,677
Beginning Balance at Apr. 03, 2022	1,011,974	$ 110	711,712	301,415	(1,263)
Beginning Balance, Shares at Apr. 03, 2022		110,243,288
Net income	61,997			61,997
Other comprehensive income (loss)	1,456				1,456
Issuance of shares under stock plans	155		155
Issuance of shares under stock plans, Shares		122,060
Repurchase and retirement of common stock	(65,356)	$ (2)	(65,354)
Repurchase and retirement of common stock, Shares		(2,397,671)
Share-based compensation	3,464		3,464
Ending Balance at Jul. 03, 2022	$ 1,013,690	$ 108	$ 715,331	$ 298,058	$ 193
Ending Balance, Shares at Jul. 03, 2022		107,967,677

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021
Operating activities
Net income	$ 150,304	$ 144,062
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	64,856	63,152
Operating lease asset amortization	57,360	52,631
Store closure and other costs, net	171	0
Share-based compensation	7,920	7,851
Deferred income taxes	1,770	2,920
Other non-cash items	324	740
Changes in operating assets and liabilities:
Accounts receivable	11,389	14,685
Inventories	(27,475)	(19,873)
Prepaid expenses and other current assets	(12,851)	(13,679)
Other assets	164	(4,363)
Accounts payable	32,877	23,653
Accrued liabilities	(318)	(8,416)
Accrued salaries and benefits	(10,521)	(28,587)
Operating lease liabilities	(65,502)	(58,131)
Other long-term liabilities	(1,505)	660
Cash flows from operating activities	208,963	177,305
Investing activities
Purchases of property and equipment	(53,098)	(39,421)
Cash flows used in investing activities	(53,098)	(39,421)
Financing activities
Payments on finance lease liabilities	(385)	(333)
Payments of deferred financing costs	(3,373)	0
Repurchase of common stock	(111,071)	(87,484)
Proceeds from exercise of stock options	2,710	1,246
Cash flows used in financing activities	(112,119)	(86,571)
Increase in cash, cash equivalents, and restricted cash	43,746	51,313
Cash, cash equivalents, and restricted cash at beginning of the period	247,004	171,441
Cash, cash equivalents, and restricted cash at the end of the period	290,750	222,754
Supplemental disclosure of cash flow information
Cash paid for interest	5,717	6,128
Cash paid for income taxes	46,257	49,071
Leased assets obtained in exchange for new operating lease liabilities	68,668	60,074
Supplemental disclosure of non-cash investing and financing activities
Property and equipment in accounts payable and accrued liabilities	$ 10,934	$ 11,771

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 03, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Sprouts Farmers Market, Inc., a Delaware corporation, through its subsidiaries, operates as a healthy grocery store that offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. The Company continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. As of July 3, 2022 , the Company operated 378 stores in 23 states. The “Company” is used to refer collectively to Sprouts Farmers Market, Inc. and unless the context otherwise requires, its subsidiaries. The accompanying unaudited consolidated financial statements include the accounts of the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and are in the form prescribed by the Securities and Exchange Commission in instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company's financial position, results of operations and cash flows for the periods indicated. All material intercompany accounts and transactions have been eliminated in consolidation. Interim results are not necessarily indicative of results for any other interim period or for a full fiscal year. The information included in these consolidated financial statements and notes thereto should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations included herein and Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and notes thereto for the fiscal year ended January 2, 2022 (“fiscal year 2021”) included in the Company’s Annual Report on Form 10-K, filed on February 24, 2022. The year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The Company reports its results of operations on a 52- or 53-week fiscal calendar ending on the Sunday closest to December 31. The fiscal year ending January 1, 2023 (“fiscal year 2022”) and fiscal year 2021 are 52-week years. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years (in which the fourth quarter has 14 weeks). All dollar amounts are in thousands, unless otherwise noted.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 03, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Revenue Recognition The Company’s performance obligations are satisfied upon the transfer of goods to the customer, which occurs at the point of sale, and payment from customers is also due at the time of sale. Proceeds from the sale of gift cards are recorded as a liability at the time of sale and recognized as sales when they are redeemed by the customer and the performance obligation is satisfied by the Company. The Company’s gift cards do not expire. Based on historical redemption rates, a small and relatively stable percentage of gift cards will never be redeemed, referred to as "breakage." Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions and was not material in any period presented. Balance at Gift Cards Issued During (1) Revenue Recognized from Balance at Gift card liability, net $ 12,586 $ 1,568 $ ( 4,554 ) $ 9,600 (1) net of estimated breakage The Company does not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current period from performance obligations satisfied in previous periods, or any remaining performance obligations as of July 3, 2022 . Restricted Cash Restricted cash relates to defined benefit plan forfeitures as well as healthcare, general liability and workers’ compensation restricted funds of approximately $ 1.8 million and $ 1.7 million as of July 3, 2022 and January 2, 2022 , respectively. These balances are included in prepaid expenses and other current assets in the consolidated balance sheets. Recently Adopted Accounting Pronouncements Reference Rate Reform In March 2020 and January 2021, the FASB issued ASU no. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” and ASU 2021-01, “Reference Rate Reform (Topic 848): Scope,” respectively. The amendments in these updates provide optional expedients and exceptions for a limited period of time to ease the potential burden in accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. In the twenty-six weeks ended July 3, 2022 , the Company adopted certain optional expedients provided under Topic 848 that permit its hedging relationships to continue without de-designation upon changes due to reference rate reform. The adoption of this guidance resulted in no material impact to the Company’s consolidated financial statements. See Note 10, “Derivative Financial Instruments” for more information on our hedging activities. The optional expedients and accounting relief in Topic 848 remain effective through December 31, 2022. Recently Issued Accounting Pronouncements Not Yet Adopted No other new accounting pronouncements issued or effective during the thirteen weeks ended July 3, 2022 had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 03, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company records its financial assets and liabilities in accordance with the framework for measuring fair value in accordance with GAAP. This framework establishes a fair value hierarchy that prioritizes the inputs used to measure fair value: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in the valuation of derivative instruments, impairment analysis of goodwill, intangible assets and long-lived assets. The following tables present the fair value hierarchy for the Company’s financial liabilities measured at fair value on a recurring basis as of July 3, 2022 and January 2, 2022: July 3, 2022 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 250,000 $ — $ 250,000 Total financial liabilities $ — $ 250,000 $ — $ 250,000 Interest rate swap asset $ — $ 230 $ — $ 230 Total assets $ — $ 230 $ — $ 230 January 2, 2022 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 250,000 $ — $ 250,000 Interest rate swap liability — 5,107 — 5,107 Total financial liabilities $ — $ 255,107 $ — $ 255,107 The Company’s interest rate swaps are considered Level 2 in the hierarchy and are valued using an income approach. Expected future cash flows are converted to a present value amount based on market expectations of the yield curve on floating interest rates, which is readily available on public markets. The determination of fair values of certain tangible and intangible assets for purposes of the Company’s goodwill impairment evaluation as described above is based upon Level 3 inputs. The weighted average cost of capital is estimated using information from comparable companies and management’s judgment related to the risk associated with the operations of the stores. Cash, cash equivalents, restricted cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued liabilities, and accrued salaries and benefits approximate fair value because of the short maturity of those instruments. Based on comparable open market transactions, the fair value of the long-term debt approximated carrying value as of July 3, 2022 and January 2, 2022 .

Long-Term Debt and Finance Leas

Long-Term Debt and Finance Lease Liabilities	6 Months Ended
	Jul. 03, 2022
Long Term Debt And Finance Lease Liabilities [Abstract]
Long-Term Debt and Finance Lease Liabilities	4. Long-Term Debt and Finance Lease Liabilities A summary of long-term debt and finance lease liabilities is as follows: As of Facility Maturity Interest Rate July 3, 2022 January 2, 2022 Senior secured debt $ 700.0 million Credit Agreement March 25, 2027 Variable $ 250,000 $ — Former Credit Facility March 27, 2023 Variable — 250,000 Finance lease liabilities Various n/a 9,219 9,656 Long-term debt and finance lease liabilities $ 259,219 $ 259,656 New Credit Agreement The Company’s subsidiary, Sprouts Farmers Markets Holdings, LLC (“Intermediate Holdings”), is the borrower under a credit agreement entered into on March 25, 2022 (the “Credit Agreement”). The Credit Agreement provides for a revolving credit facility (the "Revolving Credit Facility") with an initial aggregate commitment of $ 700.0 million. Amounts outstanding under the Credit Agreement may be increased from time to time in accordance with an expansion feature set forth in the Credit Agreement. The Company capitalized debt issuance costs of $ 3.4 million related to the Credit Agreement, which, combined with the remaining $ 0.5 million debt issuance costs in respect of that certain amended and restated credit agreement entered into on March 27, 2018, by and among the Company, Intermediate Holdings, certain lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (the “Former Credit Facility”), which remained outstanding as of the time of Intermediate Holdings’ entry into the Credit Agreement, are being amortized on a straight-line basis to interest expense over the five-year term of the Credit Agreement. The Credit Agreement provides for a $ 70.0 million letter of credit sub-facility (the "Letter of Credit Sub-Facility") and a $ 50.0 million swingline facility. Letters of credit issued under the Credit Agreement reduce the capacity of Intermediate Holdings to borrow under the Revolving Credit Facility. Letters of credit totaling $ 24.8 million have been issued as of July 3, 2022 under the Letter of Credit Sub-Facility, primarily to support the Company’s insurance programs. Guarantees Obligations under the Credit Agreement are guaranteed by the Company and substantially all of its existing and future wholly-owned material domestic subsidiaries, and are secured by first-priority security interests in substantially all of the assets of the Company, Intermediate Holdings, and the subsidiary guarantors, including, without limitation, a pledge by the Company of its equity interest in Intermediate Holdings. Interest and Fees Loans under the Credit Agreement will initially bear interest, at the Company's option, either at the Term SOFR (with a floor of 0.00%) plus a 0.10 % SOFR adjustment and 1.00 % per annum or base rate (with a floor of 0.00%) plus 0.00 % per annum. The interest rate margins are subject to upward adjustments pursuant to a pricing grid based on the Company’s total net leverage ratio as set forth in the Credit Agreement and to upward or downward adjustments of up to 0.05 % based upon the achievement of certain diversity and sustainability-linked metric thresholds, as set forth in the Credit Agreement. Under the terms of the Credit Agreement, the Company is obligated to pay a commitment fee on the available unused amount of the commitments, which commitment fee ranges between 0.10 % to 0.225 % per annum, pursuant to a pricing grid based on the Company’s total net leverage ratio. The commitment fees are subject to upward or downward adjustments of up to 0.01 % based upon the achievement of certain diversity and sustainability-linked metric thresholds, as set forth in the Credit Agreement. As of July 3, 2022 , loans outstanding under the Credit Agreement bore interest at Term SOFR (as defined in the Credit Agreement) plus a 0.10 % SOFR adjustment and 1.00 % per annum. The effective interest rate on 100 % of outstanding debt under the Credit Agreement is fixed, reflecting the effects of floating to fixed interest rate swaps (see Note 10, “Derivative Financial Instruments”). As of July 3, 2022, outstanding letters of credit issued under the Credit Agreement were subject to a participation fee of 1.00 % per annum and an issuance fee of 0.125 % per annum. Payments and Borrowings The Credit Agreement is scheduled to mature, and the commitments thereunder will terminate on March 25, 2027 , subject to extensions as set forth therein. The Company may prepay loans and permanently reduce commitments under the Credit Agreement at any time in agreed-upon minimum principal amounts, without premium or penalty (except SOFR breakage costs, if applicable). In connection with the execution of the Credit Agreement, the obligations as borrower under the Former Credit Facility were prepaid and terminated. During the thirteen and twenty-six weeks ended July 3, 2022 , the Company made no additional borrowings or principal payments, resulting in total outstanding debt under the Credit Agreement of $ 250.0 million as of July 3, 2022. Covenants The Credit Agreement contains financial, affirmative and negative covenants. The negative covenants include, among other things, limitations on the Company’s ability to: • incur additional indebtedness; • grant additional liens; • enter into sale-leaseback transactions; • make loans or investments; • merge, consolidate or enter into acquisitions; • pay dividends or distributions; • enter into transactions with affiliates; • enter into new lines of business; • modify the terms of certain debt or other material agreements; and • change its fiscal year. Each of these covenants is subject to customary and other agreed-upon exceptions. In addition, the Credit Agreement requires that the Company and its subsidiaries maintain a maximum total net leverage ratio not to exceed 3.75 to 1.00, which ratio may be increased from time to time in connection with certain permitted acquisitions pursuant to conditions as set forth in the Credit Agreement, and a minimum interest coverage ratio not to be less than 3.00 to 1.00. Each of these covenants is tested as of the last day of each fiscal quarter. The Company was in compliance with all applicable covenants under the Credit Agreement as of July 3, 2022 .

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2022
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes The Company’s effective tax rate increased to 26.1 % for the thirteen weeks ended July 3, 2022 , compared to 24.4 % for the thirteen weeks ended July 4, 2021.The increase in the effective tax rate is primarily due to a decrease in enhanced charitable contributions due to the expiration of CARES Act benefits as well as an increase of non-deductible executive compensation. The Company’s effective tax rate increased to 25.0 % for the twenty-six weeks ended July 3, 2022 , compared to 24.6 % for the twenty-six weeks ended July 4, 2021 .The increase in the effective tax rate is primarily due to a decrease in enhanced charitable contributions due to the expiration of CARES Act benefits as well as an increase of non-deductible executive compensation, partially offset by an increase in benefit from share-based payment awards in the current year. The income tax effect resulting from excess tax benefits of share-based payment awards were $ 1.6 million and $ 0.2 million for the twenty-six weeks ended July 3, 2022 and July 4, 2021, respectively. The Company files income tax returns for federal purposes and in many states. The Company’s tax filings remain subject to examination by applicable tax authorities for a certain length of time, generally three years, following the tax year to which those filings relate. The Company’s U.S. federal income tax returns for the fiscal years ended December 31, 2017 and January 1, 2017, are currently under examination by the Internal Revenue Service.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jul. 03, 2022
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions On May 24, 2022, the Company appointed a new member to its board of directors who is an executive officer of a company that is a supplier of nutrition bars and related products to the Company for resale. During the thirteen weeks ended July 3, 2022 , the cost of sales recognized from this supplier was $ 1.3 million.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 03, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	. Commitments and Contingencies The Company is exposed to claims and litigation matters arising in the ordinary course of business and uses various methods to resolve these matters that are believed to best serve the interests of the Company’s stakeholders. The Company’s primary contingencies are associated with self-insurance obligations and litigation matters. Self-insurance liabilities require significant judgment and actual claim settlements and associated expenses may differ from the Company’s current provisions for loss. Proposition 65 Coffee Action On April 13, 2010, an organization named Council for Education and Research on Toxics (“CERT”) filed a lawsuit in the Superior Court of the State of California, County of Los Angeles, against nearly 80 defendants who manufacture, package, distribute or sell brewed coffee, including the Company. CERT alleged that the defendants failed to provide warnings for their coffee products of exposure to the chemical acrylamide as required under California Health and Safety Code section 25249.5, the California Safe Drinking Water and Toxic Enforcement Act of 1986, better known as Proposition 65. CER T seeks equitable relief, i ncluding providing warnings to consumers of coffee products, as well as civil penalties. The Company, as part of a joint defense group, asserted multiple defenses against the lawsuit. On May 7, 2018, the trial court issued a ruling adverse to defendants on these defenses to liability. On October 1, 2019, before the court tried damages, remedies and attorneys' fees, California’s Office of Environmental Health Hazard Assessment adopted a regulation that exempted “Exposures to listed chemicals in coffee created by and inherent in the processes of roasting coffee beans or brewing coffee” from Proposition 65’s warning requirement. On August 25, 2020, the court granted the defense motion for summary judgment based on the regulation, and the case was dismissed. On November 20, 2020, CERT filed a notice of appeal to appeal the ruling on the defense motion for summary judgment. The case is fully briefed, with a decision expected in late 2022 or early 2023. At this stage of the proceedings, the Company is unable to predict or reasonably estimate any potential loss or effect on the Company or its operations. Accordingly, no loss contingency was recorded for this matter.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 03, 2022
Equity [Abstract]
Stockholders' Equity	. Stockholders’ Equity Share Repurchases On March 2, 2022, the Company's board of directors authorized a new $ 600 million share repurchase program for its common stock. The new authorization replaced the Company's then-existing share repurchase authorization of $ 300 million that was due to expire on March 3, 2024, of which $ 99.8 million remained available upon its replacement. No further shares may be repurchased under the $ 300 million authorization. The following table outlines the common stock share repurchase programs authorized by the Company’s board of directors and the related repurchase activity and available authorization as of July 3, 2022. Effective date Expiration date Amount Cost of Authorization March 3, 2021 March 2, 2022 $ 300,000 $ 200,200 $ — March 2, 2022 December 31, 2024 $ 600,000 $ 99,214 $ 500,786 The shares under the Company’s repurchase programs may be purchased on a discretionary basis from time to time through the applicable expiration date, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions, or other means, including through Rule 10b5-1 trading plans. The board’s authorization of the share repurchase programs does not obligate the Company to acquire any particular amount of common stock, and the repurchase programs may be commenced, suspended, or discontinued at any time. Share repurchase activity under the Company’s repurchase programs for the periods indicated was as follows (total cost in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Number of common shares acquired 2,397,671 3,150,649 3,878,858 3,280,617 Average price per common share acquired $ 27.26 $ 26.75 $ 28.63 $ 26.67 Total cost of common shares acquired $ 65,356 $ 84,275 $ 111,071 $ 87,484 Shares purchased under the Company’s repurchase programs were subsequently retired and the excess of the repurchase price over par value was charged to retained earnings. Subsequent to July 3, 2022 and through August 1, 2022, the Company repurchased an additional 0.5 million shares of common stock for $ 14.1 million.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jul. 03, 2022
Earnings Per Share [Abstract]
Net Income Per Share	9. Net Income Per Share The computation of basic net income per share is based on the number of weighted average shares outstanding during the period. The computation of diluted net income per share includes the dilutive effect of share equivalents consisting of incremental shares deemed outstanding from the assumed exercise of options, assumed vesting of restricted stock units (“RSUs”) and assumed vesting of performance share awards (“PSAs”). PSAs are included in the computation of diluted net income per share only to the extent that the underlying performance conditions are satisfied prior to the end of the reporting period or would be satisfied if the end of the reporting period were the end of the related performance period, and if the effect would be dilutive. A reconciliation of the numerators and denominators of the basic and diluted net income per share calculations is as follows (in thousands, except per share amounts): Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Basic net income per share: Net income $ 61,997 $ 61,014 $ 150,304 $ 144,062 Weighted average shares outstanding 109,067 117,246 109,985 117,645 Basic net income per share $ 0.57 $ 0.52 $ 1.37 $ 1.22 Diluted net income per share: Net income $ 61,997 $ 61,014 $ 150,304 $ 144,062 Weighted average shares outstanding - 109,067 117,246 109,985 117,645 Dilutive effect of share-based awards: Assumed exercise of options to purchase 294 276 320 217 RSUs 258 309 401 393 PSAs — — 56 10 Weighted average shares and 109,619 117,831 110,762 118,265 Diluted net income per share $ 0.57 $ 0.52 $ 1.36 $ 1.22 For the thirteen weeks ended July 3, 2022 , the Company had 0.6 million options, 0.5 million RSUs, and 0.5 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirteen weeks ended July 4, 2021 , the Company had 0.5 million options, 0.1 million RSUs, and 0.5 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the twenty-six weeks ended July 3, 2022 , the Company had 0.5 million options, 0.5 million RSUs, and 0.5 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the twenty-six weeks ended July 4, 2021 , the Company had 0.5 million options, 0.1 million RSUs, and 0.5 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jul. 03, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	. Derivative Financial Instruments The Company entered into an interest rate swap agreement in December 2017 to manage its cash flow associated with variable interest rates. This forward contract has been designated and qualifies as a cash flow hedge, and its change in fair value is recorded as a component of other comprehensive income and reclassified into earnings in the same period or periods in which the forecasted transaction occurs. The forward contract initially consisted of five cash flow hedges, of which one was outstanding at July 3, 2022. To qualify as a hedge, the Company needs to formally document, designate and assess the effectiveness of the transactions that receive hedge accounting. The notional dollar amount of the one outstanding swap was $ 250.0 million at July 3, 2022 and January 2, 2022 , under which the Company pays a fixed rate and receives a variable rate of interest (cash flow swap). The cash flow swap hedges the change in interest rates on debt related to fluctuations in interest rates and has a length of one year , maturing in 2022 . This interest rate swap has been designated and qualifies as a cash flow hedge and has met the requirements to assume zero ineffectiveness. The Company reviews the effectiveness of its hedging instruments on a quarterly basis. During the first quarter of 2022, the Company elected to apply certain hedge accounting optional expedients allowed under Topic 848. The expedients allow the Company to continue the method of assessing effectiveness as documented in the original hedge documentation and allows the reference rate on the hypothetical derivative to match the reference rate on the hedging instrument . The counterparties to these derivative financial instruments are major financial institutions. The Company evaluates the credit ratings of the financial institutions and believes that credit risk is at an acceptable level. The following table summarizes the fair value of the Company’s derivative instruments designated as hedging instruments: As of As of Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest rate swaps Other current assets $ 230 Other current assets $ — Interest rate swaps Accrued liabilities $ — Accrued liabilities $ 5,107 The gain or loss on these derivative instruments is recognized in other comprehensive income, net of tax, with the portion related to current period interest payments reclassified to interest expense, net on the consolidated statements of income. The following table summarizes these losses classified on the consolidated statements of income: Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Consolidated Statements of Interest expense, net $ 1,066 $ 1,440 $ 2,534 $ 2,880

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jul. 03, 2022
Equity [Abstract]
Comprehensive Income	11. Comprehensive Income The following table presents the changes in accumulated other comprehensive income (loss) for the twenty-six weeks ended July 4, 2021 and July 3, 2022. Cash Flow Balance at January 3, 2021 $ ( 8,474 ) Other comprehensive income (loss), net of tax Unrealized gains on cash flow hedging activities, net of income tax of $ 1,485 4,295 Reclassification of net losses on cash flow hedges to net income, net of income 740 ) ( 2,140 ) Total other comprehensive income (loss) 2,155 Balance at July 4, 2021 $ ( 6,319 ) Balance at January 2, 2022 $ ( 3,758 ) Other comprehensive income (loss), net of tax Unrealized gains on cash flow hedging activities, net of income tax of $ 2,018 5,834 Reclassification of net losses on cash flow hedges to net income, net of income 651 ) ( 1,883 ) Total other comprehensive income (loss) 3,951 Balance at July 3, 2022 $ 193 Amounts reclassified from accumulated other comprehensive income (loss) are included within interest expense, net on the consolidated statements of income.

Segments

Segments	6 Months Ended
	Jul. 03, 2022
Segment Reporting [Abstract]
Segments	12. Segments The Company has one reportable and one operating segment, healthy grocery stores. In accordance with ASC 606, the following table represents a disaggregation of revenue for the thirteen and twenty-six weeks ended July 3, 2022 and July 4, 2021. Thirteen weeks ended July 3, 2022 July 4, 2021 Perishables $ 936,273 58.7 % $ 889,684 58.5 % Non-Perishables 659,209 41.3 % 632,309 41.5 % Net Sales $ 1,595,482 100.0 % $ 1,521,993 100.0 % Twenty-six weeks ended July 3, 2022 July 4, 2021 Perishables $ 1,888,360 58.3 % $ 1,800,652 58.1 % Non-Perishables 1,348,283 41.7 % 1,296,788 41.9 % Net Sales $ 3,236,643 100.0 % $ 3,097,440 100.0 % The Company categorizes the varieties of products it sells as perishable and non-perishable. Perishable product categories include produce, meat and meat alternatives, seafood, deli, bakery, floral and dairy and dairy alternatives. Non-perishable product categories include grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 03, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	13. Share-Based Compensation 2022 Incentive Plan In March 2022, the Company’s board of directors adopted the Sprouts Farmers Market, Inc. 2022 Omnibus Incentive Compensation Plan (the “2022 Incentive Plan”), which became effective May 25, 2022, upon approval by the Company’s stockholders. The 2022 Incentive Plan provides team members of the Company, certain consultants and advisors who perform services for the Company, and non-employee members of the Company's board of directors with the opportunity to receive grants of equity awards, including stock options, RSUs, PSAs, and other stock-based awards. The 2022 Incentive Plan replaced the 2013 Incentive Plan (as described below). Awards Granted under the 2022 Incentive Plan During the twenty-six weeks ended July 3, 2022, the Company granted the following share-based compensation awards under the 2022 Incentive Plan: Grant Date RSUs PSAs Options June 7, 2022 58,057 — — Total 58,057 — — Weighted-average grant date fair value $ 27.01 $ — $ — Weighted-average exercise price — — — The aggregate number of shares of common stock that may be issued to team members and directors under the 2022 Incentive Plan may not exceed 6,600,000 , subject to the following adjustments. If any awards granted under the 2022 Incentive Plan, terminate, expire, or are cancelled, forfeited, exchanged, or surrendered without having been exercised, vested or paid in shares, the shares will again be available for purposes of the 2022 Incentive Plan. In addition, the number of shares subject to outstanding awards under the Sprouts Farmers Market, Inc. 2013 Incentive Plan (the “2013 Incentive Plan”) that terminate, expire, are paid in cash, or are cancelled, forfeited, exchanged, or surrendered without having been exercised, vested, or paid in shares under the 2013 Incentive Plan after the effective date of the 2022 Incentive Plan will be available for issuance under the 2022 Incentive Plan. As of July 3, 2022 , there were 58,057 stock awards outstanding and 6,621,093 shares remaining available for issuance under the 2022 Incentive Plan. 2013 Incentive Plan Prior to the adoption of the 2022 Incentive Plan, the 2013 Incentive Plan served as the umbrella plan for the Company’s share-based and cash-based incentive compensation programs for its directors, officers and other team members. Upon adoption of the 2022 Incentive Plan on May 25, 2022, no further awards will be granted under the 2013 Incentive Plan, but awards outstanding under the 2013 Incentive Plan will remain outstanding in accordance with their terms and the terms of the 2013 Incentive Plan. Awards Granted under the 2013 Incentive Plan During the twenty-six weeks ended July 3, 2022, the Company granted the following share-based compensation awards under the 2013 Incentive Plan: Grant Date RSUs PSAs Options March 15, 2022 370,177 147,846 211,352 March 21, 2022 104,913 14,260 20,270 Total 475,090 162,106 231,622 Weighted-average grant date fair value $ 31.60 $ 31.52 $ 10.58 Weighted-average exercise price — — $ 31.52 Stock Options The Company uses the Black-Scholes option pricing model to estimate the fair value of options at grant date. Options vest in accordance with the terms set forth in the grant letter. Time-based options vest annually over a period of three years . RSUs The fair value of RSUs is based on the closing price of the Company’s common stock on the grant date. RSUs generally vest annually over a period of two or three years from the grant date. PSAs PSAs granted in 2018 were subject to the Company achieving certain earnings before interest and taxes (“EBIT”) performance targets for the 2020 fiscal year. The criteria was based on a range of performance targets in which grantees may earn 0 % to 200 % of the base number of awards granted. The performance conditions with respect to fiscal year 2020 EBIT were deemed to have been met, and the PSAs vested at the maximum pay out level on the third anniversary of the grant date (March 2021). There were no outstanding 2018 PSAs as of July 3, 2022. PSAs granted in 2019 are subject to the Company achieving certain EBIT performance targets for the 2021 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0 % to 200 % of the base number of awards granted. The performance conditions with respect to fiscal year 2021 EBIT were deemed to have been met, and the PSAs vested at the maximum pay out level on the third anniversary of the grant date (March 2022). During the twenty-six weeks ended July 3, 2022 , 208,172 of the 2019 PSAs vested. There were no outstanding 2019 PSAs as of July 3, 2022. PSAs granted in 2020 are subject to the Company achieving certain earnings before taxes (“EBT”) performance targets for the 2022 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0 % to 200 % of the base number of awards granted. If performance conditions are met, the applicable number of performance shares will vest on the third anniversary of the grant date (March 2023). PSAs granted in 2021 are subject to the Company achieving certain EBIT performance targets for the 2023 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0 % to 200 % of the base number of awards granted. If performance conditions are met, the applicable number of performance shares will vest on the third anniversary of the grant date (March 2024). PSAs granted in 2022 are subject to the Company achieving certain EBIT performance targets for the 2024 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0 % to 200 % of the base number of awards granted. If performance conditions are met, the applicable number of performance shares will vest on the third anniversary of the grant date (March 2025). Share-based Compensation Expense The Company presents share-based compensation expense in selling, general and administrative expenses on the Company’s consolidated statements of income. The amount recognized was as follows: Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Share-based compensation expense $ 3,464 $ 4,238 $ 7,920 $ 7,851 The following share-based awards were outstanding as of July 3, 2022 and July 4, 2021: As of July 3, 2022 July 4, 2021 (in thousands) Options Vested 370 281 Unvested 1,053 1,273 RSUs 993 840 PSAs 460 471 As of July 3, 2022, total unrecognized compensation expense and remaining weighted average recognition period related to outstanding share-based awards was as follows: Unrecognized Remaining Options $ 4,548 1.3 RSUs 22,084 1.9 PSAs 5,601 1.7 Total unrecognized compensation expense at July 3, 2022 $ 32,233 During the twenty-six weeks ended July 3, 2022 and July 4, 2021 , the Company received $ 2.7 million and $ 1.2 million, respectively, in cash proceeds from the exercise of options.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 03, 2022
Accounting Policies [Abstract]
Fiscal Years	The Company reports its results of operations on a 52- or 53-week fiscal calendar ending on the Sunday closest to December 31. The fiscal year ending January 1, 2023 (“fiscal year 2022”) and fiscal year 2021 are 52-week years. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years (in which the fourth quarter has 14 weeks).
Revenue Recognition	Revenue Recognition The Company’s performance obligations are satisfied upon the transfer of goods to the customer, which occurs at the point of sale, and payment from customers is also due at the time of sale. Proceeds from the sale of gift cards are recorded as a liability at the time of sale and recognized as sales when they are redeemed by the customer and the performance obligation is satisfied by the Company. The Company’s gift cards do not expire. Based on historical redemption rates, a small and relatively stable percentage of gift cards will never be redeemed, referred to as "breakage." Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions and was not material in any period presented. Balance at Gift Cards Issued During (1) Revenue Recognized from Balance at Gift card liability, net $ 12,586 $ 1,568 $ ( 4,554 ) $ 9,600 (1) net of estimated breakage The Company does not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current period from performance obligations satisfied in previous periods, or any remaining performance obligations as of July 3, 2022 .
Restricted Cash	Restricted Cash Restricted cash relates to defined benefit plan forfeitures as well as healthcare, general liability and workers’ compensation restricted funds of approximately $ 1.8 million and $ 1.7 million as of July 3, 2022 and January 2, 2022 , respectively. These balances are included in prepaid expenses and other current assets in the consolidated balance sheets.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Reference Rate Reform In March 2020 and January 2021, the FASB issued ASU no. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” and ASU 2021-01, “Reference Rate Reform (Topic 848): Scope,” respectively. The amendments in these updates provide optional expedients and exceptions for a limited period of time to ease the potential burden in accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. In the twenty-six weeks ended July 3, 2022 , the Company adopted certain optional expedients provided under Topic 848 that permit its hedging relationships to continue without de-designation upon changes due to reference rate reform. The adoption of this guidance resulted in no material impact to the Company’s consolidated financial statements. See Note 10, “Derivative Financial Instruments” for more information on our hedging activities. The optional expedients and accounting relief in Topic 848 remain effective through December 31, 2022.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted No other new accounting pronouncements issued or effective during the thirteen weeks ended July 3, 2022 had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jul. 03, 2022
Schedule of Estimated Breakage Revenue Recognized	Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions and was not material in any period presented. Balance at Gift Cards Issued During (1) Revenue Recognized from Balance at Gift card liability, net $ 12,586 $ 1,568 $ ( 4,554 ) $ 9,600 (1) net of estimated breakage

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 03, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis	The following tables present the fair value hierarchy for the Company’s financial liabilities measured at fair value on a recurring basis as of July 3, 2022 and January 2, 2022: July 3, 2022 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 250,000 $ — $ 250,000 Total financial liabilities $ — $ 250,000 $ — $ 250,000 Interest rate swap asset $ — $ 230 $ — $ 230 Total assets $ — $ 230 $ — $ 230 January 2, 2022 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 250,000 $ — $ 250,000 Interest rate swap liability — 5,107 — 5,107 Total financial liabilities $ — $ 255,107 $ — $ 255,107

Long-Term Debt and Finance Le_2

Long-Term Debt and Finance Lease Liabilities (Tables)	6 Months Ended
	Jul. 03, 2022
Long Term Debt And Finance Lease Liabilities [Abstract]
Summary of Long-Term Debt and Finance Lease Liabilities	A summary of long-term debt and finance lease liabilities is as follows: As of Facility Maturity Interest Rate July 3, 2022 January 2, 2022 Senior secured debt $ 700.0 million Credit Agreement March 25, 2027 Variable $ 250,000 $ — Former Credit Facility March 27, 2023 Variable — 250,000 Finance lease liabilities Various n/a 9,219 9,656 Long-term debt and finance lease liabilities $ 259,219 $ 259,656

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 03, 2022
Equity [Abstract]
Schedule of Common Stock Share Repurchase Programs Authorized by Board of Directors from Time to Time and Related Repurchase Activity and Available Authorized	The following table outlines the common stock share repurchase programs authorized by the Company’s board of directors and the related repurchase activity and available authorization as of July 3, 2022. Effective date Expiration date Amount Cost of Authorization March 3, 2021 March 2, 2022 $ 300,000 $ 200,200 $ — March 2, 2022 December 31, 2024 $ 600,000 $ 99,214 $ 500,786
Schedule of Share Repurchase Activity Under Share Repurchase Programs	Share repurchase activity under the Company’s repurchase programs for the periods indicated was as follows (total cost in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Number of common shares acquired 2,397,671 3,150,649 3,878,858 3,280,617 Average price per common share acquired $ 27.26 $ 26.75 $ 28.63 $ 26.67 Total cost of common shares acquired $ 65,356 $ 84,275 $ 111,071 $ 87,484

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jul. 03, 2022
Earnings Per Share [Abstract]
Summary of Reconciliation of Numerators and Denominators of Basic and Diluted Net Income Per Share	A reconciliation of the numerators and denominators of the basic and diluted net income per share calculations is as follows (in thousands, except per share amounts): Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Basic net income per share: Net income $ 61,997 $ 61,014 $ 150,304 $ 144,062 Weighted average shares outstanding 109,067 117,246 109,985 117,645 Basic net income per share $ 0.57 $ 0.52 $ 1.37 $ 1.22 Diluted net income per share: Net income $ 61,997 $ 61,014 $ 150,304 $ 144,062 Weighted average shares outstanding - 109,067 117,246 109,985 117,645 Dilutive effect of share-based awards: Assumed exercise of options to purchase 294 276 320 217 RSUs 258 309 401 393 PSAs — — 56 10 Weighted average shares and 109,619 117,831 110,762 118,265 Diluted net income per share $ 0.57 $ 0.52 $ 1.36 $ 1.22

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jul. 03, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments	The following table summarizes the fair value of the Company’s derivative instruments designated as hedging instruments: As of As of Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest rate swaps Other current assets $ 230 Other current assets $ — Interest rate swaps Accrued liabilities $ — Accrued liabilities $ 5,107
Summary of Losses of Derivative Instruments	The following table summarizes these losses classified on the consolidated statements of income: Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Consolidated Statements of Interest expense, net $ 1,066 $ 1,440 $ 2,534 $ 2,880

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jul. 03, 2022
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive income (loss) for the twenty-six weeks ended July 4, 2021 and July 3, 2022. Cash Flow Balance at January 3, 2021 $ ( 8,474 ) Other comprehensive income (loss), net of tax Unrealized gains on cash flow hedging activities, net of income tax of $ 1,485 4,295 Reclassification of net losses on cash flow hedges to net income, net of income 740 ) ( 2,140 ) Total other comprehensive income (loss) 2,155 Balance at July 4, 2021 $ ( 6,319 ) Balance at January 2, 2022 $ ( 3,758 ) Other comprehensive income (loss), net of tax Unrealized gains on cash flow hedging activities, net of income tax of $ 2,018 5,834 Reclassification of net losses on cash flow hedges to net income, net of income 651 ) ( 1,883 ) Total other comprehensive income (loss) 3,951 Balance at July 3, 2022 $ 193

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jul. 03, 2022
Segment Reporting [Abstract]
Summary of Disaggregation of Revenue	In accordance with ASC 606, the following table represents a disaggregation of revenue for the thirteen and twenty-six weeks ended July 3, 2022 and July 4, 2021. Thirteen weeks ended July 3, 2022 July 4, 2021 Perishables $ 936,273 58.7 % $ 889,684 58.5 % Non-Perishables 659,209 41.3 % 632,309 41.5 % Net Sales $ 1,595,482 100.0 % $ 1,521,993 100.0 % Twenty-six weeks ended July 3, 2022 July 4, 2021 Perishables $ 1,888,360 58.3 % $ 1,800,652 58.1 % Non-Perishables 1,348,283 41.7 % 1,296,788 41.9 % Net Sales $ 3,236,643 100.0 % $ 3,097,440 100.0 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jul. 03, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Share-Based Compensation Expense in Selling, General and Administrative Expenses	The Company presents share-based compensation expense in selling, general and administrative expenses on the Company’s consolidated statements of income. The amount recognized was as follows: Thirteen weeks ended Twenty-six weeks ended July 3, 2022 July 4, 2021 July 3, 2022 July 4, 2021 Share-based compensation expense $ 3,464 $ 4,238 $ 7,920 $ 7,851
Summary of Outstanding Share-Based Awards	The following share-based awards were outstanding as of July 3, 2022 and July 4, 2021: As of July 3, 2022 July 4, 2021 (in thousands) Options Vested 370 281 Unvested 1,053 1,273 RSUs 993 840 PSAs 460 471
Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Share-Based Awards	As of July 3, 2022, total unrecognized compensation expense and remaining weighted average recognition period related to outstanding share-based awards was as follows: Unrecognized Remaining Options $ 4,548 1.3 RSUs 22,084 1.9 PSAs 5,601 1.7 Total unrecognized compensation expense at July 3, 2022 $ 32,233
Awards Granted under the 2022 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Share-Based Compensation Awards Granted	During the twenty-six weeks ended July 3, 2022, the Company granted the following share-based compensation awards under the 2022 Incentive Plan: Grant Date RSUs PSAs Options June 7, 2022 58,057 — — Total 58,057 — — Weighted-average grant date fair value $ 27.01 $ — $ — Weighted-average exercise price — — —
Awards Granted under the 2013 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Share-Based Compensation Awards Granted	During the twenty-six weeks ended July 3, 2022, the Company granted the following share-based compensation awards under the 2013 Incentive Plan: Grant Date RSUs PSAs Options March 15, 2022 370,177 147,846 211,352 March 21, 2022 104,913 14,260 20,270 Total 475,090 162,106 231,622 Weighted-average grant date fair value $ 31.60 $ 31.52 $ 10.58 Weighted-average exercise price — — $ 31.52

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	Jul. 03, 2022 State Store
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating stores | Store	378
Number of states entity operates | State	23

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Estimated Breakage Revenue Recognized (Detail) - Gift Card Revenue [Member] $ in Thousands	6 Months Ended
	Jul. 03, 2022 USD ($)
Disaggregation Of Revenue [Line Items]
Net gift card liability beginning balance	$ 12,586
Gift cards issued during current period but not redeemed	1,568	[1]
Revenue recognized from beginning liability	(4,554)
Net gift card liability ending balance	$ 9,600
[1] net of estimated breakage

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Jul. 03, 2022	Apr. 03, 2022	Jan. 02, 2022
ASU no. 2021-01 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, ASU, adopted		true
Prepaid Expenses and Other Current Assets [Member]
Summary Of Significant Accounting Policy [Line Items]
Restricted cash related to defined benefit plan forfeitures and healthcare, general liability and workers’ compensation plan benefits	$ 1.8		$ 1.7

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring [Member] - USD ($) $ in Thousands	Jul. 03, 2022	Jan. 02, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	$ 250,000	$ 250,000
Interest rate swap liability		5,107
Total financial liabilities	250,000	255,107
Interest rate swap asset	230
Total assets	230
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	250,000	250,000
Interest rate swap liability		5,107
Total financial liabilities	250,000	$ 255,107
Interest rate swap asset	230
Total assets	$ 230

Long-Term Debt and Finance Le_3

Long-Term Debt and Finance Lease Liabilities - Summary of Long-Term Debt and Finance Lease Liabilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2022	Jan. 02, 2022
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term finance lease liabilities	$ 9,219	$ 9,656
Long-term debt and finance lease liabilities	259,219	259,656
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term debt	$ 250,000
Debt instrument maturity	Mar. 25, 2027
Debt instrument, Interest Rate	Variable
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term debt		$ 250,000
Debt instrument maturity	Mar. 27, 2023
Debt instrument, Interest Rate	Variable

Long-Term Debt and Finance Le_4

Long-Term Debt and Finance Lease Liabilities - Summary of Long-Term Debt and Finance Lease Liabilities (Parenthetical) (Detail) $ in Millions	Jul. 03, 2022 USD ($)
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	$ 700

Long-Term Debt and Finance Le_5

Long-Term Debt and Finance Lease Liabilities - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 03, 2022	Jul. 03, 2022	Mar. 25, 2022	Mar. 27, 2018
Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Fixed portion of outstanding debt percentage		100%
Participation fee		1%
Issuance fee		0.125%
Credit facility termination date		Mar. 25, 2027
Borrowings during the period	$ 0	$ 0
Principal payments on the Credit Facility	0	0
Borrowings under credit facilities	250,000,000	$ 250,000,000
Net leverage ratio		375%
Interest coverage ratio		3%
Secured Debt [Member] | Credit Agreement [Member] | SOFR [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Fixed portion of outstanding debt percentage		0.10%
Secured Debt [Member] | Current Credit Facility Agreement [Member] | SOFR [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate		1%
Senior Lien [Member] | Secured Debt [Member] | Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	70,000,000	$ 70,000,000
Letters of credit issued	24,800,000	$ 24,800,000
Interest rate spread on base rate		0.05%
Credit facility commitment fee percentage subject to upward or downward adjustments		0.01%
Senior Lien [Member] | Secured Debt [Member] | Credit Agreement [Member] | SOFR [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Line of credit interest rate terms		at the Company's option, either at the Term SOFR (with a floor of 0.00%) plus a 0.10% SOFR adjustment and 1.00% per annum or base rate (with a floor of 0.00%) plus 0.00% per annum.
Senior Lien [Member] | Secured Debt [Member] | Credit Agreement [Member] | Prime Plus [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate		0%
Senior Lien [Member] | Secured Debt [Member] | Credit Agreement [Member] | Minimum [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility unused commitment fee percentage		0.10%
Senior Lien [Member] | Secured Debt [Member] | Credit Agreement [Member] | Maximum [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility unused commitment fee percentage		0.225%
Senior Lien [Member] | Secured Debt [Member] | Credit Agreement [Member] | Swingline Loan Sub-facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	50,000,000	$ 50,000,000
Senior Lien [Member] | Secured Debt [Member] | Current Credit Facility Agreement [Member] | SOFR [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate		0.10%
Senior Lien [Member] | Secured Debt [Member] | Current Credit Facility Agreement [Member] | Secured Overnight Financing Rate [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate		1%
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Capitalized debt issuance costs				$ 500,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	$ 700,000,000	$ 700,000,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Facility [Member] | Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility maximum borrowing capacity			$ 700,000,000
Capitalized debt issuance costs			$ 3,400,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	26.10%	24.40%	25%	24.60%
Excess tax benefits of equity-based compensation			$ 1.6	$ 0.2

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) $ in Millions	3 Months Ended
	Jul. 03, 2022 USD ($)
Nutrition Bars Supplier [Member]
Related Party Transaction [Line Items]
Cost Of Sales Recognized from supplier	$ 1.3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Apr. 13, 2010 Defendant
Superior Court of State of California and County of Los Angeles [Member]
Other Commitments [Line Items]
Number of defendants	80

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) shares in Millions	1 Months Ended
	Aug. 01, 2022	Jul. 03, 2022	Mar. 02, 2022
Equity Class Of Treasury Stock [Line Items]
Common stock repurchased during the period, value	$ 14,100,000
Subsequent Event [Member]
Equity Class Of Treasury Stock [Line Items]
Common stock repurchased during the period, shares	0.5
March 3, 2021 Share Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Shares authorized to be repurchased		$ 300,000,000	$ 300,000,000
Authorization available		0	99,800
March 2, 2022 [Member]
Equity Class Of Treasury Stock [Line Items]
Shares authorized to be repurchased		600,000,000	$ 600,000,000
Authorization available		$ 500,786,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Share Repurchase Programs Authorized by Board of Directors from Time to Time and Related Repurchase Activity and Available Authorized (Detail) - USD ($)		6 Months Ended
	Dec. 31, 2024	Jul. 03, 2022	Jul. 04, 2021	Mar. 02, 2022
Equity Class Of Treasury Stock [Line Items]
Cost of repurchases		$ 111,071,000	$ 87,484,000
March 3, 2021 [Member]
Equity Class Of Treasury Stock [Line Items]
Effective date		Mar. 03, 2021
Expiration date		Mar. 02, 2022
Amount authorized		$ 300,000,000		$ 300,000,000
Cost of repurchases		200,200,000
Authorization available		$ 0		99,800
March 2, 2022 [Member]
Equity Class Of Treasury Stock [Line Items]
Effective date		Mar. 02, 2022
Expiration date	Dec. 31, 2024
Amount authorized		$ 600,000,000		$ 600,000,000
Cost of repurchases		99,214,000
Authorization available		$ 500,786,000

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Share Repurchase Activity under Share Repurchase Programs (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Equity [Abstract]
Number of common shares acquired	2,397,671	3,150,649	3,878,858	3,280,617
Average price per common share acquired	$ 27.26	$ 26.75	$ 28.63	$ 26.67
Total cost of common shares acquired	$ 65,356	$ 84,275	$ 111,071	$ 87,484

Net Income Per Share - Summary

Net Income Per Share - Summary of Reconciliation of Numerators and Denominators of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Basic net income per share:
Basic net income per share	$ 0.57	$ 0.52	$ 1.37	$ 1.22
Diluted net income per share:
Net income	$ 61,997	$ 61,014	$ 150,304	$ 144,062
Weighted average shares outstanding - basic	109,067,000	117,246,000	109,985,000	117,645,000
Dilutive effect of share-based awards:
Assumed exercise of options to purchase shares	294,000	276,000	320,000	217,000
Weighted average shares and equivalent shares outstanding	109,619,000	117,831,000	110,762,000	118,265,000
Diluted net income per share	$ 0.57	$ 0.52	$ 1.36	$ 1.22
RSUs [Member]
Dilutive effect of share-based awards:
Dilutive effect	258,000	309,000	401,000	393,000
PSAs [Member]
Dilutive effect of share-based awards:
Dilutive effect			56,000	10,000

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Stock option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.6	0.5	0.5	0.5
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.5	0.1	0.5	0.1
PSAs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.5	0.5	0.5	0.5

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail) $ in Millions	6 Months Ended
	Jul. 03, 2022 USD ($) Swap	Jan. 02, 2022 USD ($)	Dec. 31, 2017 Hedge
Derivative [Line Items]
Derivative, cash flow swaps length period	1 year
Cash flow swaps mature annually, ending year	2022
Cash Flow Hedges [Member]
Derivative [Line Items]
Interest rate swaps hedge ineffectiveness	0%
Swaps [Member]
Derivative [Line Items]
Derivative, notional amount of outstanding swaps | $	$ 250	$ 250
Forward Contract [Member]
Derivative [Line Items]
Derivative, number of cash flow hedges | Hedge			5
Number of outstanding swaps | Swap	1

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Value of Derivative Instruments (Detail) - Designated as Hedging Instrument [Member] - Swaps [Member] - USD ($) $ in Thousands	Jul. 03, 2022	Jan. 02, 2022
Accrued Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair Value		$ 5,107
Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Asset Derivatives, Fair Value	$ 230

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Losses of Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Interest Expense, Net [Member]
Derivative Instruments Gain Loss [Line Items]
Loss / (Gain) on Derivative Instruments,net of tax	$ 1,066	$ 1,440	$ 2,534	$ 2,880

Comprehensive Income - Changes

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 1,011,974	$ 966,870	$ 959,876	$ 881,293
Other comprehensive income (loss), net of tax
Unrealized gains on cash flow hedging activities, net of income tax	2,248	1,981	5,834	4,295
Reclassification of net gains (losses) on cash flow hedges to net income, net of income tax	(792)	(1,070)	(1,883)	(2,140)
Total other comprehensive income (loss)	1,456	911	3,951	2,155
Ending Balance	1,013,690	949,123	1,013,690	949,123
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(3,758)	(8,474)
Other comprehensive income (loss), net of tax
Unrealized gains on cash flow hedging activities, net of income tax			5,834	4,295
Reclassification of net gains (losses) on cash flow hedges to net income, net of income tax			(1,883)	(2,140)
Total other comprehensive income (loss)			3,951	2,155
Ending Balance	$ 193	$ (6,319)	$ 193	$ (6,319)

Comprehensive Income - Change_2

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Accumulated Other Comprehensive Income Loss [Line Items]
Income tax expenses (Benefit) on cash flow hedging activities	$ 778	$ 685	$ 2,018	$ 1,485
Income tax expenses (Benefit) for reclassification of net gains (losses) on cash flow hedges	$ (274)	$ (370)	(651)	(740)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Income tax expenses (Benefit) on cash flow hedging activities			2,018	1,485
Income tax expenses (Benefit) for reclassification of net gains (losses) on cash flow hedges			$ (651)	$ (740)

Segments - Additional Informati

Segments - Additional Information (Detail)	6 Months Ended
	Jul. 03, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segment	1
Number of operating segment	1

Segments - Summary of Disaggreg

Segments - Summary of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 1,595,482	$ 1,521,993	$ 3,236,643	$ 3,097,440
Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	100%	100%	100%	100%
Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 936,273	$ 889,684	$ 1,888,360	$ 1,800,652
Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	58.70%	58.50%	58.30%	58.10%
Non-Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 659,209	$ 632,309	$ 1,348,283	$ 1,296,788
Non-Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	41.30%	41.50%	41.70%	41.90%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock-Based Compensation Awards Granted (Detail)	6 Months Ended
	Jul. 03, 2022 $ / shares shares
2013 Incentive Plan [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	475,090
Weighted-average grant date fair value | $ / shares	$ 31.60
Weighted-average exercise price | $ / shares	$ 0
2013 Incentive Plan [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	162,106
Weighted-average grant date fair value | $ / shares	$ 31.52
Weighted-average exercise price | $ / shares	$ 0
2013 Incentive Plan [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	231,622
Weighted-average grant date fair value | $ / shares	$ 10.58
Weighted-average exercise price | $ / shares	$ 31.52
2013 Incentive Plan [Member] | March 15, 2022 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	370,177
2013 Incentive Plan [Member] | March 15, 2022 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	147,846
2013 Incentive Plan [Member] | March 15, 2022 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	211,352
2013 Incentive Plan [Member] | March 21, 2022 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	104,913
2013 Incentive Plan [Member] | March 21, 2022 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	14,260
2013 Incentive Plan [Member] | March 21, 2022 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	20,270
Awards Granted under the 2022 Incentive Plan [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	58,057
Weighted-average grant date fair value | $ / shares	$ 27.01
Weighted-average exercise price | $ / shares	$ 0
Awards Granted under the 2022 Incentive Plan [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	0
Weighted-average grant date fair value | $ / shares	$ 0
Weighted-average exercise price | $ / shares	$ 0
Awards Granted under the 2022 Incentive Plan [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	0
Weighted-average grant date fair value | $ / shares	$ 0
Weighted-average exercise price | $ / shares	$ 0
Awards Granted under the 2022 Incentive Plan [Member] | June 7, 2022 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	58,057
Awards Granted under the 2022 Incentive Plan [Member] | June 7, 2022 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	0
Awards Granted under the 2022 Incentive Plan [Member] | June 7, 2022 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	0

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2018	Jul. 03, 2022	Jul. 04, 2021	Jan. 03, 2021	Dec. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options		$ 2,710	$ 1,246
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options		$ 2,700	$ 1,200
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding		993,000	840,000
RSUs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		2 years
RSUs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding		460,000	471,000
PSAs [Member] | March 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description		The criteria was based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
Number of shares, outstanding		0
PSAs [Member] | 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description		The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
Awards vested		208,172
Number of shares, outstanding		0
PSAs [Member] | 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description		The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
PSAs [Member] | 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description		The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
PSAs [Member] | 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description		The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
PSAs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted	0%	0%		0%	0%
PSAs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted	200%	200%		200%	200%
Third Anniversary [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Awards Granted under the 2022 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under plan		6,600,000
Stock awards outstanding		58,057
Remaining shares available for issuance		6,621,093

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Share-Based Compensation Expense in Selling, General and Administrative Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2022	Jul. 04, 2021	Jul. 03, 2022	Jul. 04, 2021
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 3,464	$ 4,238	$ 7,920	$ 7,851

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Outstanding Share-Based Awards (Detail) - shares shares in Thousands	Jul. 03, 2022	Jul. 04, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested options, outstanding	370	281
Unvested options, outstanding	1,053	1,273
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	993	840
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	460	471

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Share-Based Awards (Detail) $ in Thousands	6 Months Ended
	Jul. 03, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense at July 3, 2022	$ 32,233
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding options	$ 4,548
Remaining weighted average recognition period	1 year 3 months 18 days
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 22,084
Remaining weighted average recognition period	1 year 10 months 24 days
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 5,601
Remaining weighted average recognition period	1 year 8 months 12 days