Sprouts Farmers Market (SFM) 10-Q 3 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 01, 2018	May 01, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 1, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	SFM
Entity Registrant Name	SPROUTS FARMERS MARKET, INC.
Entity Central Index Key	1,575,515
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		131,846,682

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 21,356	$ 19,479
Accounts receivable, net	26,746	25,893
Inventories	239,611	229,542
Prepaid expenses and other current assets	27,301	24,593
Total current assets	315,014	299,507
Property and equipment, net of accumulated depreciation	738,656	713,031
Intangible assets, net of accumulated amortization	195,855	196,205
Goodwill	368,078	368,078
Other assets	9,541	4,782
Total assets	1,627,144	1,581,603
Current liabilities:
Accounts payable and other accrued liabilities	270,385	244,853
Accrued salaries and benefits	33,569	45,623
Current portion of capital and financing lease obligations	11,964	9,238
Total current liabilities	315,918	299,714
Long-term capital and financing lease obligations	122,833	125,489
Long-term debt	368,000	348,000
Other long-term liabilities	134,215	130,640
Deferred income tax liability	37,695	27,066
Total liabilities	978,661	930,909
Commitments and contingencies (Note 8)
Stockholders’ equity:
Undesignated preferred stock; $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.001 par value; 200,000,000 shares authorized, 131,860,411 shares issued and outstanding, April 1, 2018; 132,823,981 shares issued and outstanding, December 31, 2017	131	132
Additional paid-in capital	631,631	620,788
Accumulated other comprehensive income (loss)	2,536	(784)
Retained earnings	14,185	30,558
Total stockholders’ equity	648,483	650,694
Total liabilities and stockholders’ equity	$ 1,627,144	$ 1,581,603

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Apr. 01, 2018	Dec. 31, 2017
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	131,860,411	132,823,981
Common stock, shares outstanding	131,860,411	132,823,981

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Income Statement [Abstract]
Net sales	$ 1,287,196	$ 1,130,645
Cost of sales, buying and occupancy	900,144	793,359
Gross profit	387,052	337,286
Direct store expenses	262,595	229,058
Selling, general and administrative expenses	41,447	32,168
Store pre-opening costs	3,320	3,458
Store closure and other costs	10	91
Income from operations	79,680	72,511
Interest expense	(6,065)	(4,738)
Other income	208	95
Income before income taxes	73,823	67,868
Income tax provision	(7,199)	(21,581)
Net income	$ 66,624	$ 46,287
Net income per share:
Basic	$ 0.50	$ 0.34
Diluted	$ 0.50	$ 0.33
Weighted average shares outstanding:
Basic	132,423	137,069
Diluted	133,752	140,147

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 66,624	$ 46,287
Other comprehensive income, net of tax
Unrealized gain on cash flow hedging activities, net of income tax of $1,148 and $0	3,320
Total other comprehensive income	3,320
Comprehensive income	$ 69,944	$ 46,287

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Statement Of Income And Comprehensive Income [Abstract]
Unrealized gains on cash flow hedging activities, net of income tax	$ 1,148	$ 0

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. 01, 2017	$ 672,909	$ 140	$ 597,269	$ 75,500
Beginning Balance, Shares at Jan. 01, 2017		140,002,242
Net income	158,440			158,440
Other comprehensive income (loss)	(784)				$ (784)
Issuance of shares under stock plans	9,300	$ 2	9,298
Issuance of shares under stock plans, Shares		2,144,669
Repurchase and retirement of common stock	(203,392)	$ (10)		(203,382)
Repurchase and retirement of common stock, Shares		(9,696,819)
Equity-based compensation	14,221		14,221
Ending Balance at Dec. 31, 2017	650,694	$ 132	620,788	30,558	(784)
Ending Balance, Shares at Dec. 31, 2017		132,450,092
Net income	66,624			66,624
Other comprehensive income (loss)	3,320				3,320
Issuance of shares under stock plans	6,877	$ 2	6,875
Issuance of shares under stock plans, Shares		2,292,511
Repurchase and retirement of common stock	$ (83,000)	$ (3)		(82,997)
Repurchase and retirement of common stock, Shares	(3,329,409)	(3,329,409)
Equity-based compensation	$ 3,968		3,968
Ending Balance at Apr. 01, 2018	$ 648,483	$ 131	$ 631,631	$ 14,185	$ 2,536
Ending Balance, Shares at Apr. 01, 2018		131,413,194

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Cash flows from operating activities
Net income	$ 66,624	$ 46,287
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	26,810	22,622
Accretion of asset retirement obligation and closed store reserve	79	19
Amortization of financing fees and debt issuance costs	376	116
Loss on disposal of property and equipment	79	45
Equity-based compensation	3,968	2,446
Deferred income taxes	10,629	8,878
Changes in operating assets and liabilities:
Accounts receivable	(1,957)	213
Inventories	(10,069)	196
Prepaid expenses and other current assets	(2,135)	(1,350)
Other assets	(1,070)	(27)
Accounts payable and other accrued liabilities	18,637	31,547
Accrued salaries and benefits	(11,995)	(1,642)
Other long-term liabilities	4,511	5,187
Cash flows from operating activities	104,487	114,537
Cash flows from investing activities
Purchases of property and equipment	(44,158)	(57,205)
Proceeds from sale of property and equipment		30
Cash flows used in investing activities	(44,158)	(57,175)
Cash flows from financing activities
Proceeds from revolving credit facilities	40,000	60,000
Payments on revolving credit facilities	(20,000)	(30,000)
Payments on capital and financing lease obligations	(1,039)	(1,093)
Payments of deferred financing costs	(2,131)
Cash from landlords related to financing lease obligations	900	300
Repurchase of common stock	(83,000)	(80,000)
Proceeds from exercise of stock options	6,877	2,292
Other	(59)
Cash flows used in financing activities	(58,452)	(48,501)
Increase in cash and cash equivalents	1,877	8,861
Cash and cash equivalents at beginning of the period	19,479	12,465
Cash and cash equivalents at the end of the period	21,356	21,326
Supplemental disclosure of cash flow information
Cash paid for interest	6,080	4,435
Cash refunded for income taxes		(48)
Supplemental disclosure of non-cash investing and financing activities
Property and equipment in accounts payable	25,068	36,038
Property acquired through capital and financing lease obligations	$ 5,019	$ 3,167

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 01, 2018
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 fresh, natural and organic food through a complete shopping experience that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, beer and wine, natural body care and household items catering to consumers’ growing interest in health and wellness. 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 December 31, 2017 (“fiscal year 2017”) included in the Company’s Annual Report on Form 10-K, filed on February 22, 2018. 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 December 30, 2018 (“fiscal year 2018”) and fiscal year 2017 are 52-week years. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years. Certain reclassifications of amounts reported in prior periods have been made to conform with the current period presentation. All dollar amounts are in thousands, unless otherwise noted.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 01, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The Company has adopted Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers” in the first quarter of fiscal year 2018, with a date of initial application of January 1, 2018, using the modified retrospective approach. Comparative information presented has not been adjusted and continues to be reported under ASC 605. The Company applied ASC 606 to all of its contracts with customers. As a result of the adoption, there is no impact to any financial statement line item, and the Company has recorded no impact to opening retained earnings as of January 1, 2018. 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, any contract performance obligations, or any material costs to obtain or fulfill a contract as of April 1, 2018. The Company had a net gift card liability balance of $8.9 million as of April 1, 2018 and $13.1 million as of December 31, 2017. During the thirteen weeks ended April 1, 2018, the Company recognized $7.1 million in sales related to gift cards redeemed by customers. Revenue is recognized at the point of sale. The Company’s performance obligations are satisfied upon the transfer of goods to the customer, 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 nature of goods the Company transfers to customers at the point of sale are inventories, consisting of merchandise purchased for resale. Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” ASU No. 2014-09 provides guidance for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, and estimating the amount of variable consideration to include in the transaction price attributable to each separate performance obligation. Subsequent to the initial standards, the FASB has also issued several ASUs to clarify specific revenue recognition topics. The Company adopted ASC 606 effective January 1, 2018 using the modified retrospective approach. As noted above, there is no impact to any financial statement line item as a result of the adoption, and the Company has recorded no impact to opening retained earnings as of January 1, 2018. The Company has added additional disclosures of disaggregated revenue by type in Note 13, “Segments.” In March 2016, the FASB issued ASU No. 2016-04, “Liabilities-Extinguishments of Liabilities (Subtopic 405-20): Recognition of breakage for certain prepaid stored-value products.” ASU No. 2016-04 provides a narrow scope exception to the guidance in Subtopic 405-20 to require that stored-value breakage be accounted for consistently with the breakage guidance in Topic 606. The amendments in this update contain specific guidance for derecognition of prepaid stored-value product liabilities, thereby eliminating the current and potential future diversity. The guidance was effective for the Company for its fiscal year 2018. The Company adopted this guidance using the modified retrospective approach. As noted above, there is no impact to any financial statement line item as a result of the adoption, and the Company has recorded no impact to opening retained earnings as of January 1, 2018. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This update provides clarifications on the cash flow classification for eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. Adoption of this guidance took place during the first quarter of fiscal year 2018, using the retrospective transition method, and the adoption had no impact on the Company’s consolidated financial statements or disclosures. In May 2017, the FASB issued ASU No. 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting.” The amendments in this update provide guidance about which changes to the terms or conditions of a share-based award require an entity to apply modification accounting in Topic 718. Adoption of this guidance took place prospectively in fiscal year 2018, and the adoption did not have an impact on the Company’s consolidated financial statements or disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, “Leases (ASC 842).” ASU No. 2016-02 requires lessees to recognize a right-of-use asset and corresponding lease liability for all leases with terms greater than twelve months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new guidance also requires certain additional quantitative and qualitative disclosures. This guidance will be effective for the Company for its fiscal year 2019, with early adoption permitted, and the Company is currently evaluating the potential impact of this guidance. The adoption of this ASU is expected to result in a material increase to the Company’s consolidated balance sheets for right-of-use assets and lease liabilities. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The amendments in this update eliminate the second step of the goodwill impairment test and provide that a n entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The guidance will be effective for the Company for its fiscal year 2020, with early adoption permitted. The Company does not expect this ASU to materially impact the Company’s consolidated financial statements. No other new accounting pronouncements issued or effective during the thirteen weeks ended April 1, 2018 had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 01, 2018
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 impairment analysis of goodwill, indefinite-lived intangible assets and long-lived assets, and in the valuation of store closure and exit costs. The following tables present our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of April 1, 2018 and December 31, 2017: April 1, 2018 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 368,000 $ — $ 368,000 Total liabilities $ — $ 368,000 $ — $ 368,000 Interest rate swap asset $ — $ 3,415 $ — $ 3,415 Closed store reserves — — 764 764 Total assets $ — $ 3,415 $ 764 $ 4,179 December 31, 2017 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 348,000 $ — $ 348,000 Interest rate swap liability — 1,064 — 1,064 Total liabilities $ — $ 349,064 $ — $ 349,064 Closed store reserves $ — $ — $ 811 $ 811 Total assets $ — $ — $ 811 $ 811 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. Closed store reserves are recorded at net present value to approximate fair value which is classified as Level 3 in the hierarchy. The estimated fair value of the closed store reserve is calculated based on the present value of the remaining lease payments and other charges using a weighted average cost of capital, reduced by estimated sublease rentals. 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 and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and other 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 April 1, 2018 and December 31, 2017.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Apr. 01, 2018
Debt Disclosure [Abstract]
Long-Term Debt	4. Long-Term Debt A summary of long-term debt is as follows: As of Facility Maturity Interest Rate April 1, 2018 December 31, 2017 Senior secured debt $700.0 million Credit Agreement March 27, 2023 Variable $ 368,000 $ — Former Credit Facility April 17, 2020 Variable — 348,000 Total debt 368,000 348,000 Long-term debt $ 368,000 $ 348,000 Senior Secured Revolving Credit Facility March 2018 Refinancing On March 27, 2018, the Company’s subsidiary, Sprouts Farmers Markets Holdings, LLC (“Intermediate Holdings”), as borrower, entered into an amended and restated credit agreement (the “Amended and Restated Credit Agreement”) to amend and restate the Company’s existing senior secured credit facility, dated April 17, 2015 (the “Former Credit Facility”). The Amended and Restated Credit Agreement provides for a revolving credit facility with an initial aggregate commitment of $700.0 million, an increase from $450.0 million under the Former Credit Facility, which may be increased from time to time pursuant to an expansion feature set forth in the Amended and Restated Credit Agreement. Concurrently with the closing of the Amended and Restated Credit Agreement, all commitments under the Former Credit Facility were terminated, resulting in a $0.3 million loss on early extinguishment of debt, recorded in interest expense. The loss was due to the write-off of a proportional amount of deferred financing costs associated with the Former Credit Facility as the result of certain banks exiting the Amended and Restated Credit Agreement in connection with the refinancing. No amounts are outstanding under the Former Credit Facility as of April 1, 2018. The Company capitalized debt issuance costs of $2.1 million related to the refinancing which combined with the remaining $0.7 million debt issuance costs for the Former Credit Facility, are being amortized on a straight-line basis to interest expense over the five-year term of the Amended and Restated Credit Agreement. The Amended and Restated Credit Agreement also provides for a letter of credit subfacility and a $15.0 million swingline facility. Letters of credit issued under the Amended and Restated Credit Agreement reduce its borrowing capacity. Letters of credit totaling $27.0 million have been issued as of April 1, 2018, primarily to support the Company’s insurance programs. Guarantees Obligations under the Amended and Restated Credit Agreement are guaranteed by the Company and all of its current and future wholly-owned material domestic subsidiaries (other than the borrower), and are secured by first-priority security interests in substantially all of the assets of the Company and its subsidiary guarantors, including, without limitation, a pledge by the Company of its equity interest in Intermediate Holdings. Interest and Fees Loans under the Amended and Restated Credit Agreement initially bear interest at LIBOR plus 1.50% per annum. The interest rate margins are subject to adjustment pursuant to a pricing grid based on the Company’s total net leverage ratio, as set forth in the Amended and Restated Credit Agreement. Under the terms of the Amended and Restated Credit Agreement, the Company is obligated to pay a commitment fee on the available unused amount of the commitments between 0.15% to 0.30% per annum, also pursuant to a pricing grid based on the Company’s total net leverage ratio. The rate on approximately 70% of outstanding debt under the Amended and Restated Credit Agreement is fixed, due to certain floating to fixed swaps implemented in December 2017 (see Note 11, “Derivative Financial Instruments”). Outstanding letters of credit under the Amended and Restated Credit Agreement are subject to a participation fee of 1.50% per annum and an issuance fee of 0.125% per annum. Payments and Borrowings The Amended and Restated Credit Agreement is scheduled to mature, and the commitments thereunder will terminate on March 27, 2023, subject to extensions as set forth therein. The Company may prepay loans and permanently reduce commitments under the Amended and Restated Credit Agreement at any time in agreed-upon minimum principal amounts, without premium or penalty (except LIBOR breakage costs, if applicable). During fiscal year 2017, the Company borrowed $153.0 million under the Former Credit Facility to be used in connection with the Company’s $250.0 million share repurchase program (see Note 9, “Stockholders’ Equity”) and made a total of $60.0 million of principal payments; resulting in total outstanding debt under the Former Credit Facility of $348.0 million at December 31, 2017. During the thirteen weeks ended April 1, 2018, the Company borrowed an additional $40.0 million and made a total of $20.0 million of principal payments; resulting in total outstanding debt under the Amended and Restated Credit Agreement of $368.0 million as of April 1, 2018. Covenants The Amended and Restated 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 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 Amended and Restated Credit Agreement requires that the Company and its subsidiaries maintain a maximum total net leverage ratio not to exceed 3.25 to 1.00 and minimum interest coverage ratio not to be less than 1.75 to 1.00. Each of these covenants is tested on the last day of each fiscal quarter, starting with the fiscal quarter ended April 1, 2018. The Company was in compliance with all applicable covenants under the Amended and Restated Credit Agreement as of April 1, 2018. Former Credit Facility On April 17, 2015, Intermediate Holdings, as borrower, entered into the Former Credit Facility that provided for a revolving credit facility with an initial aggregate commitment of $450.0 million, subject to an expansion feature set forth therein. The Former Credit Facility also provided for a letter of credit subfacility and a $15.0 million swingline facility. The Former Credit Facility was scheduled to mature, and the commitments thereunder were scheduled to terminate, on April 17, 2020. Loans under the Former Credit Facility bore interest, at the Company’s option, either at adjusted LIBOR plus 1.50% per annum, or a base rate plus 0.50% per annum. The interest rate margins were subject to adjustment pursuant to a pricing grid based on the Company’s total gross leverage ratio, as defined in the Former Credit Facility. Under the terms of the Former Credit Facility, the Company was obligated to pay a commitment fee on the available unused amount of the commitments equal to 0.20% per annum.

Closed Store Reserves

Closed Store Reserves	3 Months Ended
	Apr. 01, 2018
Restructuring And Related Activities [Abstract]
Closed Store Reserves	5. Closed Store Reserves The following is a summary of closed store reserve activity during the thirteen weeks ended April 1, 2018 and fiscal year 2017: Thirteen Weeks Ended Fiscal Year Ended April 1, 2018 December 31, 2017 Beginning balance $ 811 $ 1,083 Additions — — Usage (107 ) (492 ) Adjustments 60 220 Ending balance $ 764 $ 811 Usage relates to lease payments made during the periods for closed stores.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 01, 2018
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was enacted into law, which changes various corporate income tax provisions within the existing Internal Revenue Code. The most significant changes that impact the Company are the reduction in the corporate federal income tax rate from 35% to 21% and 100% bonus depreciation for qualified property acquired and placed in service after September 27, 2017 and before January 1, 2023. Under the guidance set forth in the SEC's Staff Accounting Bulletin No. 118 (“SAB 118”), the Company may record provisional amounts for the impact of the Tax Act. In 2017, the Company had substantially completed the measurement and made a provisional and reasonable estimate of the effects of the Tax Act on its existing deferred tax balances. The final impact of the Tax Act may differ due to changes in interpretations and assumptions the Company has made and guidance that may be issued. In accordance with SAB 118, future adjustments to the provisional numbers will be recorded as discrete adjustments to income tax expense in the period in which those adjustments become estimable and finalized. As of April 1, 2018 the Company has not made any changes to the provisional and estimated amounts. The Company’s effective tax rate decreased to 9.8% for the thirteen weeks ended April 1, 2018 from 31.8% for the thirteen weeks ended April 2, 2017 primarily due to the enactment of the Tax Act as disclosed above and the recognition of excess tax benefits related to the exercise of stock options in the income tax provision. Excess tax benefits associated with share-based payment awards are recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. The income tax benefits resulting from excess tax benefits of share-based payment awards were $11.1 million and $3.8 million for the thirteen weeks ended April 1, 2018 and April 2, 2017, respectively.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Apr. 01, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	7. Related-Party Transactions A member of the Company’s board of directors is an investor in a company that is a supplier of coffee to the Company for resale. During the thirteen weeks ended April 1, 2018 and April 2, 2017, purchases from this supplier were $2.3 million and $2.9 million, respectively. As of April 1, 2018 and December 31, 2017, the Company had recorded accounts payable due to this vendor of $0.4 million and $0.7 million, respectively. The Company’s former Executive Chairman of the Board, who retired from this position in February 2017, has been the chief executive officer, an equity investor, and lender to a technology supplier to the Company. During the thirteen weeks ended April 1, 2018 and April 2, 2017, purchases from this supplier and its predecessors were $1.2 million and $1.5 million, respectively. As of April 1, 2018 and December 31, 2017, the Company had recorded accounts payable due to the supplier of $0.4 million and $0.1 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 01, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. 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. Securities Action On March 4, 2016, a complaint was filed in the Superior Court for the State of Arizona against the Company and certain of its directors and officers on behalf of a purported class of purchasers of shares of the Company’s common stock in the Company’s underwritten secondary public offering which closed on March 10, 2015 (the “March 2015 Offering”). The complaint purports to state claims under Sections 11, 12 and 15 of the Securities Act of 1933, as amended, based on an alleged failure by the Company to disclose adequate information about produce price deflation in the March 2015 Offering documents. The complaint seeks damages on behalf of the purported class in an unspecified amount, rescission, and an award of reasonable costs and attorneys’ fees. After removal to federal court, the plaintiff sought remand, which the court granted in March 2017. On May 25, 2017, the Company filed a Motion to Dismiss in the Superior Court for the State of Arizona, which the court granted in part and denied in part by order entered August 30, 2017. The Company answered the complaint on September 28, 2017. The parties are engaged in discovery at this time. The Company will continue to defend this case vigorously, but it is not possible at this time to reasonably estimate the outcome of, or any potential liability from, the case.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Apr. 01, 2018
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Share Repurchases The following table outlines the common stock share repurchase programs authorized by the Company’s board of directors from time to time, and the related repurchase activity and available authorization as of April 1, 2018. Effective date Expiration date Amount authorized Cost of repurchases Authorization available November 4, 2015 November 4, 2017 $ 150,000 $ 150,000 $ — September 6, 2016 December 31, 2017 $ 250,000 $ 250,000 $ — February 20, 2017 December 31, 2018 $ 250,000 $ 206,400 $ 43,600 February 20, 2018 December 31, 2019 $ 350,000 $ — $ 350,000 The shares under the Company’s repurchase programs may be purchased on a discretionary basis from time to time prior to 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. The Company has used borrowings under its Former Credit Facility and Amended and Restated Credit Agreement to assist with the repurchase programs (see Note 4, “Long-Term Debt”). Share repurchase activity under the Company’s repurchase programs for the periods indicated was as follows (total cost in thousands): Thirteen Weeks Ended April 1, 2018 April 2, 2017 Number of common shares acquired 3,329,409 4,099,936 Average price per common share acquired $ 24.93 $ 19.51 Total cost of common shares acquired $ 83,000 $ 80,000 Shares purchased under the Company’s repurchase programs were subsequently retired.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Apr. 01, 2018
Earnings Per Share [Abstract]
Net Income Per Share	10. Net Income Per Share The computation of 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”), assumed vesting of performance stock awards (“PSAs”), and assumed vesting of restricted stock awards (“RSAs”). 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 April 1, 2018 April 2, 2017 Basic net income per share: Net income $ 66,624 $ 46,287 Weighted average shares outstanding 132,423 137,069 Basic net income per share $ 0.50 $ 0.34 Diluted net income per share: Net income $ 66,624 $ 46,287 Weighted average shares outstanding - basic 132,423 137,069 Dilutive effect of equity-based awards: Assumed exercise of options to purchase shares 807 2,962 RSUs 221 62 RSAs 160 19 PSAs 141 35 Weighted average shares and equivalent shares outstanding 133,752 140,147 Diluted net income per share $ 0.50 $ 0.33 For the thirteen weeks ended April 1, 2018, the computation of diluted net income per share does not include 1.1 million options and 0.1 million PSAs as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirteen weeks ended April 2, 2017, the computation of diluted net income per share does not include 2.6 million options and 0.1 million PSAs as those awards would have been antidilutive or were unvested performance awards.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Apr. 01, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	11. Derivative Financial Instruments We entered into an interest rate swap agreement in December 2017 to manage our 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 consists of five cash flow hedges. To qualify as a hedge, we need to formally document, designate and assess the effectiveness of the transactions that receive hedge accounting. The notional dollar amount of the five outstanding swaps was $250.0 million at April 1, 2018 and December 31, 2017, respectively, under which we pay a fixed rate and received a variable rate of interest (cash flow swap). The cash flow swaps hedge the change in interest rates on debt related to fluctuations in interest rates and each have a length of one year and mature annually from 2018 to 2022. These interest rate swaps have been designated and qualify as cash flow hedges and have met the requirements to assume zero ineffectiveness. We review the effectiveness of our hedging instruments on a quarterly basis. The counterparties to our derivative financial instruments are major financial institutions. We evaluate the credit ratings of the financial institutions and believe that credit risk is at an acceptable level. Thirteen Weeks Ended April 1, 2018 Fiscal Year Ended December 31, 2017 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate swaps Other Current Assets and Other Assets $ 3,415 Other Accrued Liabilities and Long-term Liabilities $ 1,064 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 on the Consolidated Statements of Income. Thirteen Weeks Ended April 1, 2018 April 2, 2017 Consolidated Statements of Income Classification Interest expense $ 132 $ —

Comprehensive Income

Comprehensive Income	3 Months Ended
	Apr. 01, 2018
Equity [Abstract]
Comprehensive Income	12. Comprehensive Income During the thirteen weeks ended April 2, 2017, the Company did not record accumulated other comprehensive income. The following table presents the changes in accumulated other comprehensive income for the thirteen weeks ended April 1, 2018. Cash Flow Hedges Balance at December 31, 2017 (784 ) Other comprehensive income, net of tax Unrealized gain on cash flow hedging activities, net of income tax of $1,148 3,320 Total other comprehensive income 3,320 Balance at April 1, 2018 2,536 Amounts reclassified from accumulated other comprehensive income (loss) are included within interest expense on the Consolidated Statements of Income.

Segments

Segments	3 Months Ended
	Apr. 01, 2018
Segment Reporting [Abstract]
Segments	13. 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 weeks ended April 1, 2018 and April 2, 2017. Thirteen Weeks Ended April 1, 2018 April 2, 2017 Perishables $ 732,602 56.9 % $ 649,434 57.4 % Non-Perishables 554,594 43.1 % 481,211 42.6 % Net Sales $ 1,287,196 100.0 % $ 1,130,645 100.0 % We categorize the varieties of products we sell as perishable and non-perishable. Perishable product categories include produce, meat, seafood, deli, bakery, 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.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Apr. 01, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	14. Equity-Based Compensation 2013 Incentive Plan The Company’s board of directors adopted, and its equity holders approved, the Sprouts Farmers Market, Inc. 2013 Incentive Plan (the “2013 Incentive Plan”). The 2013 Incentive Plan became effective July 31, 2013 in connection with the Company’s initial public offering and replaced the 2011 Option Plan (as defined below) (except with respect to outstanding options under the 2011 Option Plan). The 2013 Incentive Plan serves as the umbrella plan for the Company’s stock-based and cash-based incentive compensation programs for its directors, officers and other team members, including RSUs, PSAs, and RSAs. On May 1, 2015, the Company’s stockholders approved the material terms of the performance goals under the 2013 Incentive Plan for purposes of Section 162(m) of the Internal Revenue Code. The aggregate number of shares of common stock that may be issued to team members and directors under the 2013 Incentive Plan may not exceed 10,089,072. Shares subject to awards granted under the 2013 Incentive Plan which are subsequently forfeited, expire unexercised or are otherwise not issued will not be treated as having been issued for purposes of the share limitation. As of April 1, 2018, there were 3,720,726 stock awards outstanding and 5,205,419 shares remaining available for issuance under the 2013 Incentive Plan. 2011 Option Plan In May 2011, the Company adopted the Sprouts Farmers Markets, LLC Option Plan (the “2011 Option Plan”) to provide team members or directors of the Company with options to acquire shares of the Company. The Company had authorized 12,100,000 shares for issuance under the 2011 Option Plan. Options may no longer be issued under the 2011 Option Plan. As of April 1, 2018, there were 315,836 options outstanding under the 2011 Option Plan. Awards Granted During the thirteen weeks ended April 1, 2018, the Company granted the following stock-based compensation awards: Grant Date RSUs PSAs March 5, 2018 447,594 126,098 March 12, 2018 4,357 — Total: 451,951 126,098 Weighted-average grant date fair value $ 25.18 $ 25.18 Weighted-average exercise price — — 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 and vary depending on if they are time-based or performance-based. Time-based options granted prior to fiscal year 2016 generally vest ratably over a period of 12 quarters (three years), and time-based options granted in fiscal year 2016 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 fiscal year 2015 are restricted shares that were subject to the Company achieving certain earnings per share performance targets, as well as additional time-vesting conditions. The fair value of PSAs is based on the closing price of the Company’s common stock on the grant date. The performance conditions with respect to 2015 earnings per share targets were deemed to have been met, and all PSAs have vested. During the thirteen weeks ended April 1, 2018, 20,595 of the 2015 PSAs were vested, and during the thirteen weeks ended April 2, 2017, 21,050 of the 2015 PSAs were vested. PSAs granted in fiscal year 2016 are restricted shares that are subject to the Company achieving certain earnings before interest and taxes (“EBIT”) performance targets on an annual and cumulative basis over a three-year performance period, as well as additional time-vesting conditions. The EBIT target for each of the three years during the performance period is based on a percentage increase over the previous year’s actual EBIT, with each annual performance tranche measured independently of the previous and next tranche. Cumulative performance is based on the aggregate annual performance and is measured against a cumulative performance target. Payout of the performance shares will either be 0% or range from 50% to 150% of the target number of shares granted, depending upon goal achievement. If the performance conditions are met, the applicable number of performance shares is subject to cliff vesting on the third anniversary of the grant date (March 2019). The performance conditions with respect to 2016 and 2017 EBIT were not met. PSAs granted in March 2017 were subject to the Company achieving certain earnings per share performance targets during 2017. The criteria is based on a range of performance targets in which grantees may earn between 10% and 150% of the base number of awards granted. During the thirteen weeks ended April 1, 2018, the performance conditions with respect to 2017 earnings per share were deemed to have been met, and the PSAs will vest 50% on the second anniversary of the grant date (2019) and 50% on the third anniversary of the grant date (2020). PSAs granted in March 2018 are subject to the Company achieving certain EBIT performance targets for the 2020 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 (2021). RSAs The fair value of RSAs is based on the closing price of the Company’s common stock on the grant date. Outstanding RSA grants have varying vest schedules. Such grants will vest either a) ratably over a seven quarter period, b) cliff vest on June 30, 2018 or c) vest annually over three years. Equity-based Compensation Expense Equity-based compensation expense was reflected in the consolidated statements of operations as follows: Thirteen Weeks Ended April 1, 2018 April 2, 2017 Cost of sales, buying and occupancy $ 269 $ 246 Direct store expenses 328 361 Selling, general and administrative expenses 3,371 1,839 Equity-based compensation expense before income taxes 3,968 2,446 Income tax benefit (1,020 ) (915 ) Net equity-based compensation expense $ 2,948 $ 1,531 The following equity-based awards were outstanding as of April 1, 2018 and December 31, 2017: As of April 1, 2018 December 31, 2017 (in thousands) Options Vested 2,505 4,226 Unvested 233 464 RSUs 692 449 PSAs 380 231 RSAs 226 353 As of April 1, 2018, total unrecognized compensation expense and remaining weighted average recognition period related to outstanding equity-based awards was as follows: Unrecognized compensation expense Remaining weighted average recognition period Options $ 1,548 0.6 RSUs 15,138 2.2 PSAs 5,324 1.9 RSAs 3,974 1.7 Total unrecognized compensation expense at April 1, 2018 $ 25,984 During the thirteen weeks ended April 1, 2018 and April 2, 2017, the Company received $6.9 million and $2.3 million, respectively, in cash proceeds from the exercise of options.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 01, 2018
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events Subsequent to April 1, 2018, and through April 30, 2018, the Company repurchased an additional 44,000 shares of common stock for $1.0

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 01, 2018
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 December 30, 2018 (“fiscal year 2018”) and fiscal year 2017 are 52-week years. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years.
Revenue Recognition	The Company has adopted Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers” in the first quarter of fiscal year 2018, with a date of initial application of January 1, 2018, using the modified retrospective approach. Comparative information presented has not been adjusted and continues to be reported under ASC 605. The Company applied ASC 606 to all of its contracts with customers. As a result of the adoption, there is no impact to any financial statement line item, and the Company has recorded no impact to opening retained earnings as of January 1, 2018. 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, any contract performance obligations, or any material costs to obtain or fulfill a contract as of April 1, 2018. The Company had a net gift card liability balance of $8.9 million as of April 1, 2018 and $13.1 million as of December 31, 2017. During the thirteen weeks ended April 1, 2018, the Company recognized $7.1 million in sales related to gift cards redeemed by customers. Revenue is recognized at the point of sale. The Company’s performance obligations are satisfied upon the transfer of goods to the customer, 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 nature of goods the Company transfers to customers at the point of sale are inventories, consisting of merchandise purchased for resale.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers.” ASU No. 2014-09 provides guidance for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, and estimating the amount of variable consideration to include in the transaction price attributable to each separate performance obligation. Subsequent to the initial standards, the FASB has also issued several ASUs to clarify specific revenue recognition topics. The Company adopted ASC 606 effective January 1, 2018 using the modified retrospective approach. As noted above, there is no impact to any financial statement line item as a result of the adoption, and the Company has recorded no impact to opening retained earnings as of January 1, 2018. The Company has added additional disclosures of disaggregated revenue by type in Note 13, “Segments.” In March 2016, the FASB issued ASU No. 2016-04, “Liabilities-Extinguishments of Liabilities (Subtopic 405-20): Recognition of breakage for certain prepaid stored-value products.” ASU No. 2016-04 provides a narrow scope exception to the guidance in Subtopic 405-20 to require that stored-value breakage be accounted for consistently with the breakage guidance in Topic 606. The amendments in this update contain specific guidance for derecognition of prepaid stored-value product liabilities, thereby eliminating the current and potential future diversity. The guidance was effective for the Company for its fiscal year 2018. The Company adopted this guidance using the modified retrospective approach. As noted above, there is no impact to any financial statement line item as a result of the adoption, and the Company has recorded no impact to opening retained earnings as of January 1, 2018. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” This update provides clarifications on the cash flow classification for eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. Adoption of this guidance took place during the first quarter of fiscal year 2018, using the retrospective transition method, and the adoption had no impact on the Company’s consolidated financial statements or disclosures. In May 2017, the FASB issued ASU No. 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting.” The amendments in this update provide guidance about which changes to the terms or conditions of a share-based award require an entity to apply modification accounting in Topic 718. Adoption of this guidance took place prospectively in fiscal year 2018, and the adoption did not have an impact on the Company’s consolidated financial statements or disclosures.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, “Leases (ASC 842).” ASU No. 2016-02 requires lessees to recognize a right-of-use asset and corresponding lease liability for all leases with terms greater than twelve months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new guidance also requires certain additional quantitative and qualitative disclosures. This guidance will be effective for the Company for its fiscal year 2019, with early adoption permitted, and the Company is currently evaluating the potential impact of this guidance. The adoption of this ASU is expected to result in a material increase to the Company’s consolidated balance sheets for right-of-use assets and lease liabilities. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The amendments in this update eliminate the second step of the goodwill impairment test and provide that a n entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The guidance will be effective for the Company for its fiscal year 2020, with early adoption permitted. The Company does not expect this ASU to materially impact the Company’s consolidated financial statements. No other new accounting pronouncements issued or effective during the thirteen weeks ended April 1, 2018 had, or are expected to have, a material impact on the Company’s consolidated financial statements.
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 impairment analysis of goodwill, indefinite-lived intangible assets and long-lived assets, and in the valuation of store closure and exit costs. The following tables present our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of April 1, 2018 and December 31, 2017: April 1, 2018 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 368,000 $ — $ 368,000 Total liabilities $ — $ 368,000 $ — $ 368,000 Interest rate swap asset $ — $ 3,415 $ — $ 3,415 Closed store reserves — — 764 764 Total assets $ — $ 3,415 $ 764 $ 4,179 December 31, 2017 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 348,000 $ — $ 348,000 Interest rate swap liability — 1,064 — 1,064 Total liabilities $ — $ 349,064 $ — $ 349,064 Closed store reserves $ — $ — $ 811 $ 811 Total assets $ — $ — $ 811 $ 811 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. Closed store reserves are recorded at net present value to approximate fair value which is classified as Level 3 in the hierarchy. The estimated fair value of the closed store reserve is calculated based on the present value of the remaining lease payments and other charges using a weighted average cost of capital, reduced by estimated sublease rentals. 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 and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable and other 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 April 1, 2018 and December 31, 2017.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 01, 2018
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of April 1, 2018 and December 31, 2017: April 1, 2018 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 368,000 $ — $ 368,000 Total liabilities $ — $ 368,000 $ — $ 368,000 Interest rate swap asset $ — $ 3,415 $ — $ 3,415 Closed store reserves — — 764 764 Total assets $ — $ 3,415 $ 764 $ 4,179 December 31, 2017 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 348,000 $ — $ 348,000 Interest rate swap liability — 1,064 — 1,064 Total liabilities $ — $ 349,064 $ — $ 349,064 Closed store reserves $ — $ — $ 811 $ 811 Total assets $ — $ — $ 811 $ 811

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Apr. 01, 2018
Debt Disclosure [Abstract]
Summary of Long-Term Debt	A summary of long-term debt is as follows: As of Facility Maturity Interest Rate April 1, 2018 December 31, 2017 Senior secured debt $700.0 million Credit Agreement March 27, 2023 Variable $ 368,000 $ — Former Credit Facility April 17, 2020 Variable — 348,000 Total debt 368,000 348,000 Long-term debt $ 368,000 $ 348,000

Closed Store Reserves (Tables)

Closed Store Reserves (Tables)	3 Months Ended
	Apr. 01, 2018
Restructuring And Related Activities [Abstract]
Summary of Closed Store Reserve Activity	The following is a summary of closed store reserve activity during the thirteen weeks ended April 1, 2018 and fiscal year 2017: Thirteen Weeks Ended Fiscal Year Ended April 1, 2018 December 31, 2017 Beginning balance $ 811 $ 1,083 Additions — — Usage (107 ) (492 ) Adjustments 60 220 Ending balance $ 764 $ 811

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Apr. 01, 2018
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 from time to time, and the related repurchase activity and available authorization as of April 1, 2018. Effective date Expiration date Amount authorized Cost of repurchases Authorization available November 4, 2015 November 4, 2017 $ 150,000 $ 150,000 $ — September 6, 2016 December 31, 2017 $ 250,000 $ 250,000 $ — February 20, 2017 December 31, 2018 $ 250,000 $ 206,400 $ 43,600 February 20, 2018 December 31, 2019 $ 350,000 $ — $ 350,000
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 April 1, 2018 April 2, 2017 Number of common shares acquired 3,329,409 4,099,936 Average price per common share acquired $ 24.93 $ 19.51 Total cost of common shares acquired $ 83,000 $ 80,000

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Apr. 01, 2018
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 April 1, 2018 April 2, 2017 Basic net income per share: Net income $ 66,624 $ 46,287 Weighted average shares outstanding 132,423 137,069 Basic net income per share $ 0.50 $ 0.34 Diluted net income per share: Net income $ 66,624 $ 46,287 Weighted average shares outstanding - basic 132,423 137,069 Dilutive effect of equity-based awards: Assumed exercise of options to purchase shares 807 2,962 RSUs 221 62 RSAs 160 19 PSAs 141 35 Weighted average shares and equivalent shares outstanding 133,752 140,147 Diluted net income per share $ 0.50 $ 0.33

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	3 Months Ended
	Apr. 01, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments	Thirteen Weeks Ended April 1, 2018 Fiscal Year Ended December 31, 2017 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate swaps Other Current Assets and Other Assets $ 3,415 Other Accrued Liabilities and Long-term Liabilities $ 1,064
Summary of Gains and Losses of Derivative Instruments	Thirteen Weeks Ended April 1, 2018 April 2, 2017 Consolidated Statements of Income Classification Interest expense $ 132 $ —

Comprehensive Income (Tables)

Comprehensive Income (Tables)	3 Months Ended
	Apr. 01, 2018
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	The following table presents the changes in accumulated other comprehensive income for the thirteen weeks ended April 1, 2018. Cash Flow Hedges Balance at December 31, 2017 (784 ) Other comprehensive income, net of tax Unrealized gain on cash flow hedging activities, net of income tax of $1,148 3,320 Total other comprehensive income 3,320 Balance at April 1, 2018 2,536

Segments (Tables)

Segments (Tables)	3 Months Ended
	Apr. 01, 2018
Segment Reporting [Abstract]
Summary of Disaggregation of Revenue	In accordance with ASC 606, the following table represents a disaggregation of revenue for the thirteen weeks ended April 1, 2018 and April 2, 2017. Thirteen Weeks Ended April 1, 2018 April 2, 2017 Perishables $ 732,602 56.9 % $ 649,434 57.4 % Non-Perishables 554,594 43.1 % 481,211 42.6 % Net Sales $ 1,287,196 100.0 % $ 1,130,645 100.0 %

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Apr. 01, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock-Based Compensation Awards Granted	During the thirteen weeks ended April 1, 2018, the Company granted the following stock-based compensation awards: Grant Date RSUs PSAs March 5, 2018 447,594 126,098 March 12, 2018 4,357 — Total: 451,951 126,098 Weighted-average grant date fair value $ 25.18 $ 25.18 Weighted-average exercise price — —
Summary of Equity-Based Compensation Expense	Equity-based Compensation Expense Equity-based compensation expense was reflected in the consolidated statements of operations as follows: Thirteen Weeks Ended April 1, 2018 April 2, 2017 Cost of sales, buying and occupancy $ 269 $ 246 Direct store expenses 328 361 Selling, general and administrative expenses 3,371 1,839 Equity-based compensation expense before income taxes 3,968 2,446 Income tax benefit (1,020 ) (915 ) Net equity-based compensation expense $ 2,948 $ 1,531
Summary of Outstanding Equity-Based Awards	The following equity-based awards were outstanding as of April 1, 2018 and December 31, 2017: As of April 1, 2018 December 31, 2017 (in thousands) Options Vested 2,505 4,226 Unvested 233 464 RSUs 692 449 PSAs 380 231 RSAs 226 353
Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Equity-Based Awards	As of April 1, 2018, total unrecognized compensation expense and remaining weighted average recognition period related to outstanding equity-based awards was as follows: Unrecognized compensation expense Remaining weighted average recognition period Options $ 1,548 0.6 RSUs 15,138 2.2 PSAs 5,324 1.9 RSAs 3,974 1.7 Total unrecognized compensation expense at April 1, 2018 $ 25,984

Summary of Significant Accoun34

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Apr. 01, 2018	Dec. 31, 2017
Accounting Standards Update 2014-09 [Member]
Summary Of Significant Accounting Policy [Line Items]
Net gift card liability balance	$ 8,900,000	$ 13,100,000
Impact to opening retained earnings	0
Accounting Standards Update 2014-09 [Member] | Gift Card Revenue [Member]
Summary Of Significant Accounting Policy [Line Items]
Recognized sales related to gift cards redeemed by customers	7,100,000
Accounting Standards Update 2016-04 [Member]
Summary Of Significant Accounting Policy [Line Items]
Impact to opening retained earnings	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring [Member] - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	$ 368,000	$ 348,000
Interest rate swap liability		1,064
Total liabilities	368,000	349,064
Interest rate swap asset	3,415
Closed store reserves	764	811
Total assets	4,179	811
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	368,000	348,000
Interest rate swap liability		1,064
Total liabilities	368,000	349,064
Interest rate swap asset	3,415
Total assets	3,415
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Closed store reserves	764	811
Total assets	$ 764	$ 811

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 01, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 368,000	$ 348,000
Long-term debt	368,000	348,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Debt Instrument [Line Items]
Total debt	$ 368,000
Debt instrument maturity	Mar. 27, 2023
Debt instrument, Interest Rate	Variable
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member]
Debt Instrument [Line Items]
Total debt		$ 348,000
Debt instrument maturity		Apr. 17, 2020
Debt instrument, Interest Rate		Variable

Long-Term Debt - Summary of L37

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	Apr. 01, 2018USD ($)
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument face amount	$ 700,000,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 31, 2017	Apr. 01, 2018	Apr. 02, 2017	Dec. 31, 2017	Mar. 27, 2018	Apr. 17, 2015
Debt Instrument [Line Items]
Borrowings during the period		$ 40,000,000	$ 60,000,000
September 6, 2016 Share Repurchase Program [Member]
Debt Instrument [Line Items]
Shares authorized to be repurchased		250,000,000
Principal payments on the Credit Facility		20,000,000
Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Borrowings under credit facilities		$ 368,000,000
Fixed portion of outstanding debt percentage	70.00%
Participation fee		1.50%
Issuance fee		0.125%
Credit facility termination date		Mar. 27, 2023
Net leverage ratio		325.00%
Interest coverage ratio		175.00%
Former Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity						$ 450,000,000
Borrowings under credit facilities	$ 348,000,000			$ 348,000,000
Credit facility termination date		Apr. 17, 2020
Borrowings during the period				153,000,000
Former Credit Facility [Member] | September 6, 2016 Share Repurchase Program [Member]
Debt Instrument [Line Items]
Shares authorized to be repurchased	$ 250,000,000			250,000,000
Principal payments on the Credit Facility				$ 60,000,000
Former Credit Facility [Member] | Swingline Loan Subfacility [Member]
Debt Instrument [Line Items]
Debt instrument face amount						15,000,000
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Loss on early extinguishment of debt		$ (300,000)
Letters of credit issued		$ 27,000,000
Line of credit interest rate terms		LIBOR plus 1.50% per annum. The interest rate margins are subject to adjustment pursuant to a pricing grid based on the Company’s total net leverage ratio, as set forth in the Amended and Restated Credit Agreement.
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread on base rate		1.50%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Credit facility unused commitment fee percentage		0.15%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit facility unused commitment fee percentage		0.30%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member] | Swingline Loan Subfacility [Member]
Debt Instrument [Line Items]
Debt instrument face amount		$ 15,000,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument face amount		700,000,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Facility [Member] | Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity					$ 700,000,000
Capitalized debt issuance costs		$ 2,100,000
Interest expense term		5 years
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity						$ 450,000,000
Borrowings under credit facilities		$ 0
Line of credit interest rate terms		LIBOR plus 1.50% per annum, or a base rate plus 0.50% per annum. The interest rate margins were subject to adjustment pursuant to a pricing grid based on the Company’s total gross leverage ratio, as defined in the Former Credit Facility.
Credit facility unused commitment fee percentage		0.20%
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread on base rate		1.50%
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member] | Alternate Base Rate [Member]
Debt Instrument [Line Items]
Interest rate spread on base rate		0.50%
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member] | Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Capitalized debt issuance costs		$ 700,000

Closed Store Reserves - Summary

Closed Store Reserves - Summary of Closed Store Reserve Activity (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 01, 2018	Dec. 31, 2017
Restructuring And Related Activities [Abstract]
Beginning balance	$ 811	$ 1,083
Usage	(107)	(492)
Adjustments	60	220
Ending balance	$ 764	$ 811

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Dec. 22, 2017	Apr. 01, 2018	Apr. 02, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Corporate federal income tax rate		21.00%		35.00%
Percentage of bonus depreciation for qualified property acquired and placed in service	100.00%
Effective tax rate		9.80%	31.80%
Excess tax benefits resulting from share-based payment awards		$ 11.1	$ 3.8

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017	Dec. 31, 2017
Coffee Supplier [Member]
Related Party Transaction [Line Items]
Purchases from board member	$ 2.3	$ 2.9
Accounts payable to supplier	0.4		$ 0.7
Technology Supplier [Member]
Related Party Transaction [Line Items]
Purchases from board member	1.2	$ 1.5
Accounts payable to supplier	$ 0.4		$ 0.1

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 ($)	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Equity Class Of Treasury Stock [Line Items]
Cost of repurchases	$ 83,000,000	$ 80,000,000
November 4, 2015 [Member]
Equity Class Of Treasury Stock [Line Items]
Effective date	Nov. 4, 2015
Expiration date	Nov. 4, 2017
Amount authorized	$ 150,000,000
Cost of repurchases	$ 150,000,000
September 6, 2016 [Member]
Equity Class Of Treasury Stock [Line Items]
Effective date	Sep. 6, 2016
Expiration date	Dec. 31, 2017
Amount authorized	$ 250,000,000
Cost of repurchases	$ 250,000,000
February 20, 2017 [Member]
Equity Class Of Treasury Stock [Line Items]
Effective date	Feb. 20, 2017
Expiration date	Dec. 31, 2018
Amount authorized	$ 250,000,000
Cost of repurchases	206,400,000
Authorization available	$ 43,600,000
February 20, 2018 [Member]
Equity Class Of Treasury Stock [Line Items]
Effective date	Feb. 20, 2018
Expiration date	Dec. 31, 2019
Amount authorized	$ 350,000,000
Authorization available	$ 350,000,000

Stockholders' Equity - Schedu43

Stockholders' Equity - Schedule of Share Repurchase Activity under Share Repurchase Programs (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 01, 2018	Apr. 02, 2017	Dec. 31, 2017
Equity [Abstract]
Number of common shares acquired	3,329,409	4,099,936
Average price per common share acquired	$ 24.93	$ 19.51
Total cost of common shares acquired	$ 83,000	$ 80,000	$ 203,392

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, shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 01, 2018	Apr. 02, 2017	Dec. 31, 2017
Basic net income per share:
Net income	$ 66,624	$ 46,287	$ 158,440
Weighted average shares outstanding	132,423	137,069
Basic net income per share	$ 0.50	$ 0.34
Diluted net income per share:
Net income	$ 66,624	$ 46,287	$ 158,440
Weighted average shares outstanding - basic	132,423	137,069
Dilutive effect of equity-based awards:
Assumed exercise of options to purchase shares	807	2,962
Weighted average shares and equivalent shares outstanding	133,752	140,147
Diluted net income per share	$ 0.50	$ 0.33
RSUs [Member]
Dilutive effect of equity-based awards:
Dilutive effect	221	62
RSAs [Member]
Dilutive effect of equity-based awards:
Dilutive effect	160	19
PSAs [Member]
Dilutive effect of equity-based awards:
Dilutive effect	141	35

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Stock option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	1.1	2.6
PSAs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.1	0.1

Derivative Financial Instrume46

Derivative Financial Instruments - Additional Information (Detail)	3 Months Ended
	Apr. 01, 2018USD ($)Swap	Dec. 31, 2017USD ($)HedgeSwap
Derivative [Line Items]
Number of outstanding swaps | Swap	5	5
Derivative, cash flow swaps length period	1 year
Cash flow swaps mature annually, starting year	2,018
Cash flow swaps mature annually, ending year	2,022
Hedging instruments effectiveness review measurement basis	We review the effectiveness of our hedging instruments on a quarterly basis
Cash Flow Hedges [Member]
Derivative [Line Items]
Interest rate swaps hedge ineffectiveness	0.00%
Swaps [Member]
Derivative [Line Items]
Derivative, notional amount of outstanding swaps | $	$ 250,000,000	$ 250,000,000
Forward Contract [Member]
Derivative [Line Items]
Derivative, number of cash flow hedges | Hedge		5

Derivative Financial Instrume47

Derivative Financial Instruments - Summary of Fair Value of Derivative Instruments (Detail) - Derivatives Designated as Hedging Instruments [Member] - Interest Rate Swaps [Member] - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017
Other Current Assets and Other Assets [Member]
Derivatives Fair Value [Line Items]
Assets Derivatives, Fair Value	$ 3,415
Other Accrued Liabilities and Long-term Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair Value		$ 1,064

Derivative Financial Instrume48

Derivative Financial Instruments - Summary of Gains and Losses of Derivative Instruments (Detail) $ in Thousands	3 Months Ended
	Apr. 01, 2018USD ($)
Interest Expense [Member]
Derivative Instruments Gain Loss [Line Items]
Gain / (Loss) on Derivative Instruments,net of tax	$ 132

Comprehensive Income - Addition

Comprehensive Income - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017	Apr. 02, 2017
Equity [Abstract]
Accumulated other comprehensive income	$ 2,536	$ (784)	$ 0

Comprehensive Income - Changes

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 01, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 650,694	$ 672,909
Other comprehensive income, net of tax
Unrealized gain on cash flow hedging activities, net of income tax of $1,148	3,320
Other comprehensive income (loss)	3,320	(784)
Ending Balance	648,483	650,694
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(784)
Other comprehensive income, net of tax
Unrealized gain on cash flow hedging activities, net of income tax of $1,148	3,320
Other comprehensive income (loss)	3,320
Ending Balance	$ 2,536	$ (784)

Comprehensive Income - Change51

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized gain on cash flow hedging activities, net of income tax	$ 1,148	$ 0
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized gain on cash flow hedging activities, net of income tax	$ 1,148

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Apr. 01, 2018Segment
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
	Apr. 01, 2018	Apr. 02, 2017
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 1,287,196	$ 1,130,645
Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	100.00%	100.00%
Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 732,602	$ 649,434
Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	56.90%	57.40%
Non-Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 554,594	$ 481,211
Non-Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	43.10%	42.60%

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Apr. 01, 2018	Apr. 02, 2017	Jan. 01, 2017	Jan. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options			$ 6,877,000	$ 2,292,000
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]
Stock awards vesting description			The performance conditions with respect to 2015 earnings per share targets were deemed to have been met, and all PSAs have vested. During the thirteen weeks ended April 1, 2018, 20,595 of the 2015 PSAs were vested, and during the thirteen weeks ended April 2, 2017, 21,050 of the 2015 PSAs were vested.
Total grant date fair value vested			$ 20,595	$ 21,050
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.	The criteria is based on a range of performance targets in which grantees may earn between 10% and 150% of the base number of awards granted.	Payout of the performance shares will either be 0% or range from 50% to 150% of the target number of shares granted, depending upon goal achievement.
PSAs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted	0.00%
PSAs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted	200.00%
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Second Anniversary [Member] | Stock option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years
Second Anniversary [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards vesting percentage		50.00%
Third Anniversary [Member] | Stock option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					3 years
Third Anniversary [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards vesting percentage		50.00%
Option One [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted					0.00%
Option Two [Member] | PSAs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted		10.00%			50.00%
Option Two [Member] | PSAs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards payout percentage of shares granted		150.00%			150.00%
Ratably Vesting [Member] | RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			21 months
2013 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under plan			10,089,072
Options outstanding			3,720,726
Remaining shares available for issuance			5,205,419
2011 Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under plan			12,100,000
Options outstanding			315,836

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Stock-Based Compensation Awards Granted (Detail)	3 Months Ended
	Apr. 01, 2018$ / sharesshares
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of other than options, Granted	451,951
Weighted-average grant date fair value | $ / shares	$ 25.18
RSUs [Member] | March 5, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of other than options, Granted	447,594
RSUs [Member] | March 12, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of other than options, Granted	4,357
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of other than options, Granted	126,098
Weighted-average grant date fair value | $ / shares	$ 25.18
PSAs [Member] | March 5, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of other than options, Granted	126,098

Equity-Based Compensation - S56

Equity-Based Compensation - Summary of Equity-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense before income taxes	$ 3,968	$ 2,446
Income tax benefit	(1,020)	(915)
Net equity-based compensation expense	2,948	1,531
Cost of Sales, Buying and Occupancy [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense before income taxes	269	246
Direct Store Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense before income taxes	328	361
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense before income taxes	$ 3,371	$ 1,839

Equity-Based Compensation - S57

Equity-Based Compensation - Summary of Outstanding Equity-Based Awards (Detail) - shares shares in Thousands	Apr. 01, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested options, outstanding	2,505	4,226
Unvested options, outstanding	233	464
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	692	449
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	380	231
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	226	353

Equity-Based Compensation - S58

Equity-Based Compensation - Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Equity-Based Awards (Detail) $ in Thousands	3 Months Ended
	Apr. 01, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted average recognition period	7 months 6 days
Unrecognized compensation expense related to outstanding options	$ 1,548
Total unrecognized compensation expense at April 1, 2018	$ 25,984
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted average recognition period	2 years 2 months 12 days
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 15,138
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted average recognition period	1 year 8 months 12 days
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 3,974
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted average recognition period	1 year 10 months 24 days
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 5,324

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - Common Stock [Member] $ in Millions	1 Months Ended
	Apr. 30, 2018USD ($)shares
Subsequent Event [Line Items]
Common stock repurchased during period, shares | shares	44,000
Common stock repurchased during period, value | $	$ 1