Sprouts Farmers Market (SFM) 10-Q 31 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 29, 2019	Oct. 28, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 29, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	SFM
Entity Registrant Name	Sprouts Farmers Market, Inc.
Entity Central Index Key	0001575515
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-29
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		118,138,870
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.001 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity File Number	001-36029
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0331600
Entity Address, Address Line One	5455 East High Street
Entity Address, Address Line Two	Suite 111
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85054
City Area Code	480
Local Phone Number	814-8016
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 29, 2019	Dec. 30, 2018
Current assets:
Cash and cash equivalents	$ 79,912	$ 1,588
Accounts receivable, net	14,212	40,564
Inventories	285,715	264,366
Prepaid expenses and other current assets	32,111	27,323
Total current assets	411,950	333,841
Property and equipment, net of accumulated depreciation	742,235	766,429
Operating lease assets	1,045,144
Intangible assets, net of accumulated amortization	185,440	194,803
Goodwill	368,078	368,078
Other assets	12,020	12,463
Total assets	2,764,867	1,675,614
Current liabilities:
Accounts payable	184,893	120,266
Accrued liabilities	158,010	133,703
Accrued salaries and benefits	44,229	48,603
Current portion of capital and financing lease obligations		7,428
Current portion of operating lease liabilities	84,356
Current portion of finance lease liabilities	628
Total current liabilities	472,116	310,000
Long-term capital and financing lease obligations		119,642
Long-term operating lease liabilities	1,107,872
Long-term debt and finance lease liabilities	526,699	453,000
Other long-term liabilities	43,932	153,377
Deferred income tax liability	54,327	50,399
Total liabilities	2,204,946	1,086,418
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, 118,138,870 shares issued and outstanding, September 29, 2019; 124,975,691 shares issued and outstanding, December 30, 2018	118	124
Additional paid-in capital	668,522	657,140
Accumulated other comprehensive income (loss)	(5,635)	1,134
Accumulated deficit	(103,084)	(69,202)
Total stockholders’ equity	559,921	589,196
Total liabilities and stockholders’ equity	$ 2,764,867	$ 1,675,614

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 29, 2019	Dec. 30, 2018
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	118,138,870	124,975,691
Common stock, shares outstanding	118,138,870	124,975,691

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 29, 2019	Sep. 30, 2018	[1]	Sep. 29, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales		$ 1,440,222	$ 1,329,109		$ 4,269,844	$ 3,937,998	[1]
Cost of sales		963,497	885,693		2,843,989	2,611,492	[1]
Gross profit		476,725	443,416		1,425,855	1,326,506	[1]
Selling, general and administrative expenses		404,285	362,584		1,162,226	1,051,771	[1]
Depreciation and amortization (exclusive of depreciation included in cost of sales)		30,764	27,593		89,788	80,079	[1]
Store closure and other costs		2,119	461		3,396	497	[1]
Income from operations		39,557	52,778		170,445	194,159	[1]
Interest expense, net		(5,557)	(7,411)		(15,997)	(20,015)	[1]
Other income	[1]					320
Income before income taxes		34,000	45,367		154,448	174,464	[1]
Income tax provision		(7,740)	(7,867)		(36,453)	(28,631)	[1]
Net income		$ 26,260	$ 37,500		$ 117,995	$ 145,833	[1]
Net income per share:
Basic		$ 0.22	$ 0.30		$ 0.98	$ 1.13	[1]
Diluted		$ 0.22	$ 0.29		$ 0.98	$ 1.12	[1]
Weighted average shares outstanding:
Basic		118,029	126,855		119,846	129,572	[1]
Diluted		118,174	127,627		120,227	130,537	[1]
[1]	Effective in the fourth quarter of fiscal year 2018, the Company made a voluntary change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change was applied retrospectively to all periods presented. See Note 2, “Summary of Significant Accounting Policies” for further information.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018		Sep. 29, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 26,260	$ 37,500	[1]	$ 117,995	$ 145,833	[1]
Other comprehensive income, net of tax
Unrealized gain/(loss) on cash flow hedging activities, net of income tax of ($365), $299, ($2,341), and $1,851	(1,056)	865		(6,769)	5,351
Total other comprehensive income (loss)	(1,056)	865		(6,769)	5,351
Comprehensive income	$ 25,204	$ 38,365		$ 111,226	$ 151,184
[1]	Effective in the fourth quarter of fiscal year 2018, the Company made a voluntary change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change was applied retrospectively to all periods presented. See Note 2, “Summary of Significant Accounting Policies” for further information.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Income tax expenses (Benefit) on cash flow hedging activities	$ (365)	$ 299	$ (2,341)	$ 1,851

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total		Common Stock [Member]	Additional Paid In Capital [Member]	(Accumulated Deficit) Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) Attributable to Parent [Member]
Beginning Balance at Dec. 31, 2017	$ 650,694		$ 132	$ 620,788	$ 30,558	$ (784)
Beginning Balance, Shares at Dec. 31, 2017			132,450,092
Net income	145,833	[1]			145,833
Other comprehensive (loss) income	5,351					5,351
Issuance of shares under stock plans	21,051		$ 3	21,048
Issuance of shares under stock plans, Shares			3,170,818
Repurchase and retirement of common stock	$ (193,307)		$ (8)		(193,299)
Repurchase and retirement of common stock, Shares	(8,411,575)		(8,411,575)
Share-based compensation	$ 11,673			11,673
Ending Balance at Sep. 30, 2018	641,295		$ 127	653,509	(16,908)	4,567
Ending Balance, Shares at Sep. 30, 2018			127,209,335
Beginning Balance at Jul. 01, 2018	601,172		$ 126	636,445	(39,101)	3,702
Beginning Balance, Shares at Jul. 01, 2018			127,156,251
Net income	37,500	[1]			37,500
Other comprehensive (loss) income	865					865
Issuance of shares under stock plans	14,022		$ 1	14,021
Issuance of shares under stock plans, Shares			772,088
Repurchase and retirement of common stock	$ (15,307)				(15,307)
Repurchase and retirement of common stock, Shares	(719,004)		(719,004)
Share-based compensation	$ 3,043			3,043
Ending Balance at Sep. 30, 2018	641,295		$ 127	653,509	(16,908)	4,567
Ending Balance, Shares at Sep. 30, 2018			127,209,335
Beginning Balance at Dec. 30, 2018	589,196		$ 124	657,140	(69,202)	1,134
Beginning Balance, Shares at Dec. 30, 2018			124,581,190
Net income	117,995				117,995
Other comprehensive (loss) income	(6,769)					(6,769)
Issuance of shares under stock plans	4,482		$ 1	4,481
Issuance of shares under stock plans, Shares			769,808
Repurchase and retirement of common stock	$ (163,310)		$ (7)		(163,303)
Repurchase and retirement of common stock, Shares	(7,302,878)		(7,302,878)
Share-based compensation	$ 6,901			6,901
Impact of adoption of ASC 842 related to leases	11,426				11,426
Ending Balance at Sep. 29, 2019	559,921		$ 118	668,522	(103,084)	(5,635)
Ending Balance, Shares at Sep. 29, 2019			118,048,120
Beginning Balance at Jun. 30, 2019	531,649		$ 118	665,454	(129,344)	(4,579)
Beginning Balance, Shares at Jun. 30, 2019			118,022,271
Net income	26,260				26,260
Other comprehensive (loss) income	(1,056)					(1,056)
Issuance of shares under stock plans	358			358
Issuance of shares under stock plans, Shares			25,849
Repurchase and retirement of common stock	$ 0
Repurchase and retirement of common stock, Shares	0
Share-based compensation	$ 2,710			2,710
Ending Balance at Sep. 29, 2019	$ 559,921		$ 118	$ 668,522	$ (103,084)	$ (5,635)
Ending Balance, Shares at Sep. 29, 2019			118,048,120
[1]	Effective in the fourth quarter of fiscal year 2018, the Company made a voluntary change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change was applied retrospectively to all periods presented. See Note 2, “Summary of Significant Accounting Policies” for further information.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Dec. 30, 2018
Cash flows from operating activities
Net income	$ 117,995	$ 145,833
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	91,546	81,959
Operating lease asset amortization	62,251
Store closure and other costs	850
Share-based compensation	6,901	11,673
Deferred income taxes	(245)	29,773
Other non-cash items	(2,873)	1,281
Changes in operating assets and liabilities:
Accounts receivable	28,978	(10,299)
Inventories	(21,348)	(23,503)
Prepaid expenses and other current assets	(2,379)	(13,758)
Other assets	(762)	(3,945)
Accounts payable and other accrued liabilities	100,674	3,240
Accrued salaries and benefits	(4,054)	(2,130)
Operating lease liabilities	(52,209)
Other long-term liabilities	(2,013)	15,342
Cash flows from operating activities	323,312	235,466
Cash flows from investing activities
Purchases of property and equipment	(146,480)	(148,432)
Cash flows used in investing activities	(146,480)	(148,432)
Cash flows from financing activities
Proceeds from revolving credit facilities	187,405	180,000
Payments on revolving credit facilities	(125,405)	(93,000)
Payments on capital and financing lease obligations		(3,349)
Payments on finance lease liabilities	(536)
Payments of deferred financing costs		(2,131)
Cash from landlords related to capital and financing lease obligations		2,113
Repurchase of common stock	(163,310)	(193,307)
Proceeds from exercise of stock options	4,483	21,051
Other	(320)	(59)
Cash flows used in financing activities	(97,683)	(88,682)
Increase in cash, cash equivalents, and restricted cash	79,149	(1,648)
Cash, cash equivalents, and restricted cash at beginning of the period	2,248	19,479	$ 19,479
Cash, cash equivalents, and restricted cash at the end of the period	81,397	17,831	$ 2,248
Supplemental disclosure of cash flow information
Cash paid for interest	15,212	19,784
Cash paid for income taxes	32,115	15,177
Supplemental disclosure of non-cash investing and financing activities
Property and equipment in accounts payable	$ 18,396	15,435
Property acquired through capital and financing lease obligations (ASC 840)		$ 8,911

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 29, 2019
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 healthy grocery stores that offer 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 30, 2018 (“fiscal year 2018”) included in the Company’s Annual Report on Form 10-K, filed on February 21, 2019. 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 29, 2019 (“fiscal year 2019”) and fiscal year 2018 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	9 Months Ended
	Sep. 29, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Change in Accounting Principle In the fourth quarter of fiscal year 2018, the Company made a voluntary change in its accounting policy for the classification of certain expenses. Historically, the Company has presented store occupancy costs and buying costs in cost of goods sold. Under the new policy, the Company is presenting these expenses within selling, general and administrative expenses (“SG&A”). In addition, the Company changed the classification of depreciation and amortization (exclusive of supply chain-related depreciation included in cost of sales) from direct store expenses (“DSE”) and SG&A to a separate financial statement line item and combined DSE and store pre-opening costs into SG&A. These reclassifications had no impact on sales, income from operations, net income or earnings per share. In addition, there was no cumulative effect to retained earnings, equity, or net assets. The Company made this voluntary change in accounting policy in order to better reflect the direct costs of acquiring products and making them available to its customers in cost of sales. Store occupancy costs and buying costs, which are largely sales and marketing driven, are more appropriately reflected in SG&A. The new presentation of operating expenses now largely disaggregates cash from non-cash operating expenses, which the Company believes provides better information to its financial statement users. The Company believes these changes are preferable because they enhance the comparability of its financial statements with those of many of its industry peers and align with how the Company internally manages and reviews costs and margin. These changes in presentation have been retrospectively applied to all prior periods. Refer to the table below for the impact to the thirteen and thirty-nine weeks ended September 30, 2018, as currently presented: Thirteen weeks ended September 30, 2018 Unadjusted Change in Accounting Principle As Adjusted Cost of sales $ 946,742 $ (61,049 ) $ 885,693 Gross profit 382,367 61,049 443,416 Direct store expenses 281,365 (281,365 ) — Selling, general and administrative expenses 43,944 318,640 362,584 Depreciation and amortization (exclusive of depreciation included in cost of sales) — 27,593 27,593 Store pre-opening costs 3,819 (3,819 ) — Thirty-nine weeks ended September 30, 2018 Unadjusted Change in Accounting Principle As Adjusted Cost of sales $ 2,788,167 $ (176,675 ) $ 2,611,492 Gross profit 1,149,831 176,675 1,326,506 Direct store expenses 816,933 (816,933 ) — Selling, general and administrative expenses 128,828 922,943 1,051,771 Depreciation and amortization (exclusive of depreciation included in cost of sales) — 80,079 80,079 Store pre-opening costs 9,414 (9,414 ) — Revenue Recognition The Company does not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current period from performance obligations satisfied in previous periods, or any remaining performance obligations as of September 29, 2019. The Company had a net gift card liability balance of $7.5 million as of September 29, 2019 and $14.6 million as of December 30, 2018. The Company recognized $1.4 million and $9.6 million in gift card revenue from this liability during the thirteen and thirty-nine weeks ended September 29, 2019, respectively. Restricted Cash Restricted cash relates to defined benefit plan forfeitures as well as health and welfare restricted funds of approximately $1.5 million and $0.7 million as of September 29, 2019 and December 30, 2018, respectively. These balances are included in prepaid expenses and other current assets in the consolidated balance sheets. Recently Adopted Accounting Pronouncements 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 financing or operating lease. The Company adopted the standard as of December 31, 2018, the first day of fiscal year 2019. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, permits companies not to reassess prior conclusions on lease identification, lease classification and initial direct costs. The Company did not elect the hindsight practical expedient. The adoption of the standard resulted in the recognition of operating lease assets and liabilities of approximately $1.0 billion and $1.1 billion, respectively, as of December 31, 2018, including recognition of operating lease assets and liabilities for certain third-party operated distribution center locations. Included in the measurement of the new lease assets and liabilities is the reclassification of balances historically recorded as deferred rent and unfavorable and favorable leasehold interests. Additionally, the Company recognized a cumulative effect adjustment, which increased retained earnings by $11.4 million, net of tax. This adjustment was driven by the derecognition of approximately $114.0 million of lease obligations and $102.6 million of net assets related to leases that had been classified as financing lease obligations under the former failed-sale leaseback guidance, and are now classified as operating leases as of the transition date. This reclassification also resulted in the recognition of rent expense beginning December 31, 2018, which was previously reported as interest expense under the former failed sale-leaseback guidance. Lastly, the adoption of this standard resulted in a change in naming convention for leases classified historically as capital leases. These leases are now referred to as finance leases. The adoption of this standard did not have any impact on the Company’s liquidity or cash flows. Refer to Note 5, “Leases”, for additional information related to the Company’s updated lease accounting policy. Recently Issued Accounting Pronouncements Not Yet Adopted 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. In August 2018, the FASB issued ASU No. 2018-14, “Compensation —Retirement Benefits —Defined Benefit Plans —General (Subtopic 715-20) —Disclosure Framework —Changes to the Disclosure Requirements for Defined Benefit Plans.” The amendments in this update remove disclosures that no longer are considered cost-beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. 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 disclosures. No other new accounting pronouncements issued or effective during the thirteen weeks ended September 29, 2019 had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 29, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company records its financial assets and liabilities in accordance with the framework for measuring fair value in accordance with GAAP. This framework establishes a fair value hierarchy that prioritizes the inputs used to measure fair value: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in the valuation of derivative instruments, impairment analysis of goodwill, intangible assets and long-lived assets. The following tables present the fair value hierarchy for the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 29, 2019 and December 30, 2018: September 29, 2019 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 515,000 $ — $ 515,000 Interest rate swap liability — 7,585 — 7,585 Total liabilities $ — $ 522,585 $ — $ 522,585 Interest rate swap asset $ — $ — $ — $ — Total assets $ — $ — $ — $ — December 30, 2018 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 453,000 $ — $ 453,000 Total liabilities $ — $ 453,000 $ — $ 453,000 Interest rate swap asset $ — $ 1,522 $ — $ 1,522 Total assets $ — $ 1,522 $ — $ 1,522 The Company’s interest rate swaps are considered Level 2 in the hierarchy and are valued using an income approach. Expected future cash flows are converted to a present value amount based on market expectations of the yield curve on floating interest rates, which is readily available on public markets. The determination of fair values of certain tangible and intangible assets for purposes of the Company’s goodwill impairment evaluation as described above is based upon Level 3 inputs. The weighted average cost of capital is estimated using information from comparable companies and management’s judgment related to the risk associated with the operations of the stores. Cash, cash equivalents, restricted cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued liabilities, and accrued salaries and benefits approximate fair value because of the short maturity of those instruments. Based on comparable open market transactions, the fair value of the long-term debt approximated carrying value as of September 29, 2019 and December 30, 2018.

Long-Term Debt and Finance Leas

Long-Term Debt and Finance Lease Liabilities	9 Months Ended
	Sep. 29, 2019
Long Term Debt And Finance Lease Liabilities [Abstract]
Long-Term Debt and Finance Lease Liabilities	4. Long-Term Debt and Finance Lease Liabilities A summary of long-term debt and finance lease liabilities is as follows: As of Facility Maturity Interest Rate September 29, 2019 December 30, 2018 Senior secured debt $700.0 million Credit Agreement March 27, 2023 Variable $ 515,000 $ 453,000 Finance lease liabilities (see Note 5) Various n/a 11,699 — Long-term debt and finance lease liabilities $ 526,699 $ 453,000 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 from 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 during the first quarter of fiscal year 2018. 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 were outstanding under the Former Credit Facility as of September 29 , 2019 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 sub-facility 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 $26.9 million have been issued as of September 29, 2019, primarily to support the Company’s insurance programs. On March 6, 2019, Intermediate Holdings entered into an amendment to the Amended and Restated Credit Agreement intended to align the treatment of certain lease accounting terms with the Company’s adoption of ASC 842. This amendment had no impact on borrowing capacity, interest rate, or maturity. 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 or prime plus 0.5%. 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 interest rate on approximately 49% of outstanding debt under the Amended and Restated Credit Agreement is fixed, reflecting the effects of floating to fixed interest rate swaps (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 the thirteen and thirty-nine weeks ended September 29, 2019 the Company borrowed an additional $64.5 million and $187.4 million, respectively, primarily for share repurchases. During the same periods, the Company made principal payments totaling $64.5 million and $125.4 million, respectively; resulting in total outstanding debt under the Amended and Restated Credit Agreement of $515.0 million as of September 29, 2019. During fiscal year 2018, the Company borrowed $233.0 million to be used in connection with the Company’s share repurchase programs (see Note 9, “Stockholders’ Equity”) and made a total of $128.0 million of principal payments; resulting in total outstanding debt under the Amended and Restated Credit Agreement of $453.0 million at December 30, 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. The Company was in compliance with all applicable covenants under the Amended and Restated Credit Agreement as of September 29, 2019. 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 sub-facility 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.

Leases

Leases	9 Months Ended
	Sep. 29, 2019
Leases [Abstract]
Leases	5. Leases The Company leases all stores, distribution centers, and administrative offices. The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets, current portion of operating lease liabilities and noncurrent portion of operating lease liabilities in the Company’s fiscal year 2019 consolidated balance sheet. Finance leases are included in property, plant, equipment, net, current portion of finance lease liabilities, and long-term debt and finance lease liabilities in the Company’s fiscal year 2019 consolidated balance sheet. Operating lease payments are charged on a straight-line basis to rent expense, a component of selling, general and administrative expenses, over the lease term and finance lease payments are charged to interest expense and depreciation and amortization expense using a debt model over the lease term. The Company’s lease assets represent a right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and liabilities and the related rent expense are recognized at the lease commencement date (date on which the Company gains access to the property) based on the estimated present value of lease payments over the lease term, net of landlord allowances to be received. The Company accounts for the lease and non-lease components as a single lease component for all current classes of leases. Most of the Company’s lease agreements include variable payments related to pass-through costs for maintenance, taxes, and insurance. Additionally, some of the Company’s lease agreements include rental payments based on a percentage of retail sales over contractual levels. These variable payments are not included in the measurement of the lease liability or asset and are expensed as incurred. As most of the Company’s lease agreements do not provide an implicit rate, the Company use s an estimated incremental borrowing rate , which is derived from third-party information available at the lease commencement date, in determining the present value of lease payments . The rate used is for a secured borrowing of a similar term as the lease. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to twenty years or more. The exercise of lease renewal options is at the Company’s sole discretion. The lease term includes the initial contractual term as well as any options to extend the lease when it is reasonably certain that the Company will exercise that option. Leases with a term of 12 months or less (“short-term leases”) are not recorded on the balance sheet. The Company does not currently have any material short-term leases. Additionally, the Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. The Company subleases certain real estate to third parties, which have all been classified as operating leases. The Company recognized sublease income on a straight-line basis. ASC 842 Disclosures Lease cost includes both the fixed and variable expenses recorded for leases. The components of lease cost for the thirty-nine weeks ended September 29, 2019 were as follows: Thirty-nine weeks ended Classification September 29, 2019 Operating lease cost Selling, general and administrative expenses (1) $ 131,092 Finance lease cost: Amortization of Property and Equipment Depreciation and amortization 726 Interest on lease liabilities Interest expense 753 Variable lease cost Selling, general and administrative expenses (1) 39,368 Sublease income Selling, general and administrative expenses (767 ) Total net lease cost $ 171,172 (1) Supply chain-related amounts of $6.7 million of total net lease cost are included in cost of sales. Supplemental balance sheet information related to leases was as follows: As of Classification September 29, 2019 Assets Operating Operating lease assets $ 1,045,144 Finance Property and equipment, net 10,426 Total lease assets $ 1,055,570 Liabilities Current Operating Current portion of operating lease liabilities $ 84,356 Finance Current portion of finance lease liabilities 628 Noncurrent Operating Long-term operating lease liabilities 1,107,872 Finance Long-term debt and finance lease liabilities 11,699 Total lease liabilities $ 1,204,555 As of September 29, 2019 Weighted average remaining lease term (years) Operating leases 10.3 Finance leases 10.5 Weighted average discount rate Operating leases 7.4 % Finance leases 8.3 % Supplemental cash flow and other information related to leases was as follows: Thirty-nine weeks ended September 29, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows for operating leases $ 114,971 Operating cash flows for finance leases 753 Lease assets obtained in exchange for lease liabilities: Finance leases — Operating leases 157,134 Maturities of lease liabilities: Operating Leases (1) Finance Leases Total 2019 $ 32,612 $ 398 $ 33,010 2020 205,451 1,724 207,175 2021 188,986 1,591 190,577 2022 179,652 1,671 181,323 2023 157,529 1,556 159,085 2024 158,437 1,734 160,171 Thereafter 807,302 10,466 817,768 Total lease payments 1,729,969 19,140 1,749,109 Less: Imputed interest (537,741 ) (6,813 ) (544,554 ) Total lease liabilities 1,192,228 12,327 1,204,555 Less: Current portion (84,356 ) (628 ) (84,984 ) Long-term lease liabilities $ 1,107,872 $ 11,699 $ 1,119,571 (1) Operating lease payment include $105.8 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $254.7 million of legally binding minimum lease payments for leases executed but not yet commenced. ASC 840 Disclosures related to periods prior to adoption of ASC 842: Operating Lease Commitments The Company’s leases include stores, office and distribution centers. These leases had an average remaining lease term of approximately nine years as of December 30, 2018. Rent expense in fiscal years 2018, 2017 and 2016 totaled $137.5 million, $120.5 million and $104.8 million, respectively. Future minimum lease obligations for operating leases with initial terms in excess of one year at December 30, 2018 are as follows: 2019 $ 167,595 2020 179,058 2021 178,722 2022 170,515 2023 155,173 Thereafter 893,274 Total payments $ 1,744,337 The Company has subtenant agreements under which it will receive rent as follows: 2019 $ 1,544 2020 1,623 2021 1,384 2022 1,290 2023 1,190 Thereafter 3,158 Total subtenant rent $ 10,189 Capital and Financing Lease Commitments The Company is committed under certain capital and financing leases for rental of buildings and equipment. These leases expire or become subject to renewal clauses at various dates from 2019 to 2034. As of December 30, 2018, future minimum lease payments required by all capital and financing leases during the initial lease term are as follows: Fiscal Year Capital Leases Financing Leases 2019 $ 1,692 $ 14,881 2020 1,591 14,865 2021 1,591 14,202 2022 1,662 12,538 2023 1,697 10,944 Thereafter 12,202 35,269 Total 20,435 102,699 Plus balloon payment (financing leases) — 93,629 Less amount representing interest (7,655 ) (84,227 ) Net present value of capital and financing lease obligations 12,780 112,101 Less current portion (683 ) (4,556 ) Total long-term $ 12,097 $ 107,545 The table above does not include $2.2 million of current financing lease obligations expected to pass sale-leaseback accounting during 2019. The final payment under the financing lease obligations is a non-cash payment which represents the conveyance of the property to the buyer-lessor at the end of the lease term, described as balloon payment in the table above.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 29, 2019
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The Company’s effective tax rate increased to 22.8% for the thirteen weeks ended September 29, 2019 compared to 17.3% for the thirteen weeks ended September 30, 2018. The lower effective tax rate for the period ended on September 30, 2018, was driven primarily from the tax impact of exercises of expiring pre-IPO options. The income tax effect resulting from excess tax benefits/(detriments) of share-based payment awards were $(0.3) million and $1.0 million for the thirteen weeks ended September 29, 2019 and September 30, 2018, respectively. The Company’s effective tax rate increased to 23.6% for the thirty-nine weeks ended September 29, 2019 compared to 16.4% for the thirty-nine weeks ended September 30, 2018. The lower effective tax rate for the period ended on September 30, 2018, was driven primarily from the tax impact of exercises of expiring pre-IPO options. The income tax benefits resulting from excess tax benefits of share-based payment awards were $0.1 million and $12.4 million for the thirty-nine weeks ended September 29, 2019 and September 30, 2018, respectively. The Company files income tax returns for federal purposes and in many states. The Company’s tax filings remain subject to examination by applicable tax authorities for a certain length of time, generally three years, following the tax year to which those filings relate. The Company’s U.S. federal income tax return for the fiscal year ended December 31, 2017 is currently under examination by the Internal Revenue Service.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 29, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	7. Related-Party Transactions A former member of the Company’s board of directors was an investor in a company that was a supplier of coffee to the Company for resale. During the thirteen and thirty-nine weeks ended September 29, 2019, there were no purchases from this supplier. During the thirteen and thirty-nine weeks ended September 30, 2018, there were no purchases from this supplier

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 29, 2019
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 purported 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 sought damages on behalf of the purported class in an unspecified amount, rescission, and an award of reasonable costs and attorneys’ fees. On August 4, 2018, the Company reached an agreement in principle to settle these claims. The parties’ settlement agreement was approved by the court on May 31, 2019 and the complaint was subsequently dismissed. The settlement was funded from the Company’s directors and officers liability insurance policy and did not have a material impact on the Company’s consolidated financial statements.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 29, 2019
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 and the related repurchase activity and available authorization as of September 29, 2019. 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 $ 250,000 $ — February 20, 2018 December 31, 2019 $ 350,000 $ 295,017 $ 54,983 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 and Finance Lease Liabilities”). Share repurchase activity under the Company’s repurchase programs for the periods indicated was as follows (total cost in thousands): Thirteen weeks ended Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Number of common shares acquired — 719,004 7,302,878 8,411,575 Average price per common share acquired $ — $ 21.29 $ 22.36 $ 22.98 Total cost of common shares acquired $ — $ 15,307 $ 163,310 $ 193,307 Shares purchased under the Company’s repurchase programs were subsequently retired.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 29, 2019
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 Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Basic net income per share: Net income $ 26,260 $ 37,500 $ 117,995 $ 145,833 Weighted average shares outstanding 118,029 126,855 119,846 129,572 Basic net income per share $ 0.22 $ 0.30 $ 0.98 $ 1.13 Diluted net income per share: Net income $ 26,260 $ 37,500 $ 117,995 $ 145,833 Weighted average shares outstanding - basic 118,029 126,855 119,846 129,572 Dilutive effect of share-based awards: Assumed exercise of options to purchase shares 32 341 62 484 RSUs 42 175 167 193 RSAs 25 82 58 137 PSAs 46 174 94 151 Weighted average shares and equivalent shares outstanding 118,174 127,627 120,227 130,537 Diluted net income per share $ 0.22 $ 0.29 $ 0.98 $ 1.12 For the thirteen weeks ended September 29, 2019, the computation of diluted net income per share does not include 0.6 million options, 0.4 million RSUs 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 September 30, 2018, the computation of diluted net income per share does not include 0.7 million options and 0.1 million PSAs as those awards would have been antidilutive. For the thirty-nine weeks ended September 29, 2019, the computation of diluted net income per share does not include 0.6 million options, 0.3 million RSUs and 0.4 million PSAs as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirty-nine weeks ended September 30, 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.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 29, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	11. Derivative Financial Instruments The Company entered into an interest rate swap agreement in December 2017 to manage its cash flow associated with variable interest rates. This forward contract has been designated and qualifies as a cash flow hedge, and its change in fair value is recorded as a component of other comprehensive income and reclassified into earnings in the same period or periods in which the forecasted transaction occurs. The forward contract consists of four cash flow hedges. To qualify as a hedge, the Company needs to formally document, designate and assess the effectiveness of the transactions that receive hedge accounting. The notional dollar amount of the four outstanding swaps was $250.0 The counterparties to these derivative financial instruments are major financial institutions. The Company evaluates the credit ratings of the financial institutions and believes that credit risk is at an acceptable level. The following table summarizes the fair value of the Company’s derivative instruments designated as hedging instruments: As of September 29, 2019 As of December 30, 2018 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest rate swaps Other current assets $ — Other current assets $ 944 Interest rate swaps Accrued liabilities 143 Other assets 578 Interest rate swaps Other long-term liabilities 7,442 Other long-term liabilities — 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. The following table summarizes these gains and losses classified on the consolidated statements of income: Thirteen weeks ended Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Consolidated Statements of Income Classification Interest expense (income), net $ (54 ) $ (176 ) $ (458 ) $ (115 )

Comprehensive Income

Comprehensive Income	9 Months Ended
	Sep. 29, 2019
Equity [Abstract]
Comprehensive Income	12. Comprehensive Income The following table presents the changes in accumulated other comprehensive income for the thirty-nine weeks ended September 29, 2019 and September 30, 2018. Cash Flow Hedges Balance at December 31, 2017 $ (784 ) Other comprehensive income (loss), net of tax Unrealized gain on cash flow hedging activities, net of income tax of $1,851 5,351 Total other comprehensive income 5,351 Balance at September 30, 2018 $ 4,567 Balance at December 30, 2018 $ 1,134 Other comprehensive income, net of tax Unrealized loss on cash flow hedging activities, net of income tax of ($2,341) (6,769 ) Total other comprehensive income (loss) (6,769 ) Balance at September 29, 2019 $ (5,635 ) Amounts reclassified from accumulated other comprehensive income (loss) are included within interest expense on the consolidated statements of income.

Segments

Segments	9 Months Ended
	Sep. 29, 2019
Segment Reporting [Abstract]
Segments	13. Segments The Company has one reportable and one operating segment, healthy grocery stores. In accordance with Accounting Standards Codification 606, “Revenue from Contracts with Customers,” the following table represents a disaggregation of revenue for the thirteen and thirty-nine weeks ended September 29, 2019 and September 30, 2018. Thirteen weeks ended September 29, 2019 September 30, 2018 Perishables $ 844,553 58.6 % $ 777,413 58.5 % Non-Perishables 595,669 41.4 % 551,696 41.5 % Net Sales $ 1,440,222 100.0 % $ 1,329,109 100.0 % Thirty-nine weeks ended September 29, 2019 September 30, 2018 Perishables $ 2,479,091 58.1 % $ 2,283,348 58.0 % Non-Perishables 1,790,753 41.9 % 1,654,650 42.0 % Net Sales $ 4,269,844 100.0 % $ 3,937,998 100.0 % The Company categorizes the varieties of products it sells as perishable and non-perishable. Perishable product categories include produce, meat, seafood, deli, bakery, floral and dairy and dairy alternatives. Non-perishable product categories include grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 29, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	14. Share-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 share-based and cash-based incentive compensation programs for its directors, officers and other team members. Awards granted under these plans include 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. Awards Granted During the thirty-nine weeks ended September 29, 2019, the Company granted the following share-based compensation awards under the 2013 Incentive Plan: Grant Date RSUs PSAs Options March 2019 386,115 95,768 53,866 May 2019 45,682 2,999 - June 2019 177,975 75,000 - August 2019 12,313 - - Total 622,085 173,767 53,866 Weighted-average grant date fair value $ 21.62 $ 21.16 $ 7.63 Weighted-average exercise price — — $ 23.12 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 September 29 , 2019, there were 1,645,626 stock awards outstanding and 5,839,056 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 September 29, 2019, there were 50,000 options outstanding under the 2011 Option Plan. Stock Options The Company uses the Black-Scholes option pricing model to estimate the fair value of options at grant date. Options vest in accordance with the terms set forth in the grant letter. Time-based options granted prior to fiscal year 2016 generally vested ratably over a period of 12 quarters (three years), and time-based options granted after 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 2016 are restricted shares that were 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. PSAs granted in March 2017 were subject to the Company achieving certain earnings per share performance targets during fiscal year 2017. The criteria was based on a range of performance targets in which grantees could earn between 10% and 150% of the base number of awards granted. The performance conditions with respect to fiscal year 2017 earnings per share were deemed to have been met, and the PSAs vested 50% on the second anniversary of the grant date (March 2019) and will vest 50% on the third anniversary of the grant date (March 2020). During the thirty-nine weeks ended September 29, 2019, 106,360 of the 2017 PSAs were vested. 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 (March 2021). PSAs granted in 2019 are subject to the Company achieving certain EBIT performance targets for the 2021 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted. If performance conditions are met, the applicable number of performance shares will vest in March 2022. 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 vest annually over three years. Share-based Compensation Expense The Company presents share-based compensation expense in selling, general and administrative expenses on the Company’s consolidated statements of income. The amount recognized was as follows: Thirteen weeks ended Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Share-based compensation expense before income taxes $ 2,710 $ 3,043 $ 6,901 $ 11,673 Income tax benefit (697 ) (782 ) (1,647 ) (3,000 ) Net share-based compensation expense $ 2,013 $ 2,261 $ 5,254 $ 8,673 The following share-based awards were outstanding as of September 29, 2019 and September 30, 2018: As of September 29, 2019 September 30, 2018 (in thousands) Options Vested 578 1,816 Unvested 64 98 RSUs 774 694 PSAs 225 366 RSAs 55 182 As of September 29, 2019, total unrecognized compensation expense and remaining weighted average recognition period related to outstanding share-based awards was as follows: Unrecognized compensation expense Remaining weighted average recognition period Options $ 389 2.4 RSUs 13,015 2.0 PSAs 3,042 1.9 RSAs 426 0.4 Total unrecognized compensation expense at September 29, 2019 $ 16,872 During the thirty-nine weeks ended September 29, 2019 and September 30, 2018, the Company received $4.5 million and $21.1 million, respectively, in cash proceeds from the exercise of options.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 29, 2019
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 29, 2019 (“fiscal year 2019”) and fiscal year 2018 are 52-week years. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years.
Change in Accounting Principle	Change in Accounting Principle In the fourth quarter of fiscal year 2018, the Company made a voluntary change in its accounting policy for the classification of certain expenses. Historically, the Company has presented store occupancy costs and buying costs in cost of goods sold. Under the new policy, the Company is presenting these expenses within selling, general and administrative expenses (“SG&A”). In addition, the Company changed the classification of depreciation and amortization (exclusive of supply chain-related depreciation included in cost of sales) from direct store expenses (“DSE”) and SG&A to a separate financial statement line item and combined DSE and store pre-opening costs into SG&A. These reclassifications had no impact on sales, income from operations, net income or earnings per share. In addition, there was no cumulative effect to retained earnings, equity, or net assets. The Company made this voluntary change in accounting policy in order to better reflect the direct costs of acquiring products and making them available to its customers in cost of sales. Store occupancy costs and buying costs, which are largely sales and marketing driven, are more appropriately reflected in SG&A. The new presentation of operating expenses now largely disaggregates cash from non-cash operating expenses, which the Company believes provides better information to its financial statement users. The Company believes these changes are preferable because they enhance the comparability of its financial statements with those of many of its industry peers and align with how the Company internally manages and reviews costs and margin. These changes in presentation have been retrospectively applied to all prior periods. Refer to the table below for the impact to the thirteen and thirty-nine weeks ended September 30, 2018, as currently presented: Thirteen weeks ended September 30, 2018 Unadjusted Change in Accounting Principle As Adjusted Cost of sales $ 946,742 $ (61,049 ) $ 885,693 Gross profit 382,367 61,049 443,416 Direct store expenses 281,365 (281,365 ) — Selling, general and administrative expenses 43,944 318,640 362,584 Depreciation and amortization (exclusive of depreciation included in cost of sales) — 27,593 27,593 Store pre-opening costs 3,819 (3,819 ) — Thirty-nine weeks ended September 30, 2018 Unadjusted Change in Accounting Principle As Adjusted Cost of sales $ 2,788,167 $ (176,675 ) $ 2,611,492 Gross profit 1,149,831 176,675 1,326,506 Direct store expenses 816,933 (816,933 ) — Selling, general and administrative expenses 128,828 922,943 1,051,771 Depreciation and amortization (exclusive of depreciation included in cost of sales) — 80,079 80,079 Store pre-opening costs 9,414 (9,414 ) —
Revenue Recognition	Revenue Recognition The Company does not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current period from performance obligations satisfied in previous periods, or any remaining performance obligations as of September 29, 2019. The Company had a net gift card liability balance of $7.5 million as of September 29, 2019 and $14.6 million as of December 30, 2018. The Company recognized $1.4 million and $9.6 million in gift card revenue from this liability during the thirteen and thirty-nine weeks ended September 29, 2019, respectively.
Restricted Cash	Restricted Cash Restricted cash relates to defined benefit plan forfeitures as well as health and welfare restricted funds of approximately $1.5 million and $0.7 million as of September 29, 2019 and December 30, 2018, respectively. These balances are included in prepaid expenses and other current assets in the consolidated balance sheets.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements 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 financing or operating lease. The Company adopted the standard as of December 31, 2018, the first day of fiscal year 2019. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, permits companies not to reassess prior conclusions on lease identification, lease classification and initial direct costs. The Company did not elect the hindsight practical expedient. The adoption of the standard resulted in the recognition of operating lease assets and liabilities of approximately $1.0 billion and $1.1 billion, respectively, as of December 31, 2018, including recognition of operating lease assets and liabilities for certain third-party operated distribution center locations. Included in the measurement of the new lease assets and liabilities is the reclassification of balances historically recorded as deferred rent and unfavorable and favorable leasehold interests. Additionally, the Company recognized a cumulative effect adjustment, which increased retained earnings by $11.4 million, net of tax. This adjustment was driven by the derecognition of approximately $114.0 million of lease obligations and $102.6 million of net assets related to leases that had been classified as financing lease obligations under the former failed-sale leaseback guidance, and are now classified as operating leases as of the transition date. This reclassification also resulted in the recognition of rent expense beginning December 31, 2018, which was previously reported as interest expense under the former failed sale-leaseback guidance. Lastly, the adoption of this standard resulted in a change in naming convention for leases classified historically as capital leases. These leases are now referred to as finance leases. The adoption of this standard did not have any impact on the Company’s liquidity or cash flows. Refer to Note 5, “Leases”, for additional information related to the Company’s updated lease accounting policy.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted 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. In August 2018, the FASB issued ASU No. 2018-14, “Compensation —Retirement Benefits —Defined Benefit Plans —General (Subtopic 715-20) —Disclosure Framework —Changes to the Disclosure Requirements for Defined Benefit Plans.” The amendments in this update remove disclosures that no longer are considered cost-beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. 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 disclosures. No other new accounting pronouncements issued or effective during the thirteen weeks ended September 29, 2019 had, or are expected to have, a material impact on the Company’s consolidated financial statements.
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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 29, 2019
Accounting Policies [Abstract]
Summary of Changes in Presentation Due to Change in Accounting Principle	These changes in presentation have been retrospectively applied to all prior periods. Refer to the table below for the impact to the thirteen and thirty-nine weeks ended September 30, 2018, as currently presented: Thirteen weeks ended September 30, 2018 Unadjusted Change in Accounting Principle As Adjusted Cost of sales $ 946,742 $ (61,049 ) $ 885,693 Gross profit 382,367 61,049 443,416 Direct store expenses 281,365 (281,365 ) — Selling, general and administrative expenses 43,944 318,640 362,584 Depreciation and amortization (exclusive of depreciation included in cost of sales) — 27,593 27,593 Store pre-opening costs 3,819 (3,819 ) — Thirty-nine weeks ended September 30, 2018 Unadjusted Change in Accounting Principle As Adjusted Cost of sales $ 2,788,167 $ (176,675 ) $ 2,611,492 Gross profit 1,149,831 176,675 1,326,506 Direct store expenses 816,933 (816,933 ) — Selling, general and administrative expenses 128,828 922,943 1,051,771 Depreciation and amortization (exclusive of depreciation included in cost of sales) — 80,079 80,079 Store pre-opening costs 9,414 (9,414 ) —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 29, 2019
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present the fair value hierarchy for the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 29, 2019 and December 30, 2018: September 29, 2019 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 515,000 $ — $ 515,000 Interest rate swap liability — 7,585 — 7,585 Total liabilities $ — $ 522,585 $ — $ 522,585 Interest rate swap asset $ — $ — $ — $ — Total assets $ — $ — $ — $ — December 30, 2018 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 453,000 $ — $ 453,000 Total liabilities $ — $ 453,000 $ — $ 453,000 Interest rate swap asset $ — $ 1,522 $ — $ 1,522 Total assets $ — $ 1,522 $ — $ 1,522

Long-Term Debt and Finance Le_2

Long-Term Debt and Finance Lease Liabilities (Tables)	9 Months Ended
	Sep. 29, 2019
Long Term Debt And Finance Lease Liabilities [Abstract]
Summary of Long-Term Debt and Finance Lease Liabilities	A summary of long-term debt and finance lease liabilities is as follows: As of Facility Maturity Interest Rate September 29, 2019 December 30, 2018 Senior secured debt $700.0 million Credit Agreement March 27, 2023 Variable $ 515,000 $ 453,000 Finance lease liabilities (see Note 5) Various n/a 11,699 — Long-term debt and finance lease liabilities $ 526,699 $ 453,000

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 29, 2019
Leases [Abstract]
Components of Lease Cost	Lease cost includes both the fixed and variable expenses recorded for leases. The components of lease cost for the thirty-nine weeks ended September 29, 2019 were as follows: Thirty-nine weeks ended Classification September 29, 2019 Operating lease cost Selling, general and administrative expenses (1) $ 131,092 Finance lease cost: Amortization of Property and Equipment Depreciation and amortization 726 Interest on lease liabilities Interest expense 753 Variable lease cost Selling, general and administrative expenses (1) 39,368 Sublease income Selling, general and administrative expenses (767 ) Total net lease cost $ 171,172 (1) Supply chain-related amounts of $6.7 million of total net lease cost are included in cost of sales.
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: As of Classification September 29, 2019 Assets Operating Operating lease assets $ 1,045,144 Finance Property and equipment, net 10,426 Total lease assets $ 1,055,570 Liabilities Current Operating Current portion of operating lease liabilities $ 84,356 Finance Current portion of finance lease liabilities 628 Noncurrent Operating Long-term operating lease liabilities 1,107,872 Finance Long-term debt and finance lease liabilities 11,699 Total lease liabilities $ 1,204,555 As of September 29, 2019 Weighted average remaining lease term (years) Operating leases 10.3 Finance leases 10.5 Weighted average discount rate Operating leases 7.4 % Finance leases 8.3 %
Supplemental Cash Flow and Other Information Related to Leases	Supplemental cash flow and other information related to leases was as follows: Thirty-nine weeks ended September 29, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows for operating leases $ 114,971 Operating cash flows for finance leases 753 Lease assets obtained in exchange for lease liabilities: Finance leases — Operating leases 157,134
Maturities of Lease Liabilities	Maturities of lease liabilities: Operating Leases (1) Finance Leases Total 2019 $ 32,612 $ 398 $ 33,010 2020 205,451 1,724 207,175 2021 188,986 1,591 190,577 2022 179,652 1,671 181,323 2023 157,529 1,556 159,085 2024 158,437 1,734 160,171 Thereafter 807,302 10,466 817,768 Total lease payments 1,729,969 19,140 1,749,109 Less: Imputed interest (537,741 ) (6,813 ) (544,554 ) Total lease liabilities 1,192,228 12,327 1,204,555 Less: Current portion (84,356 ) (628 ) (84,984 ) Long-term lease liabilities $ 1,107,872 $ 11,699 $ 1,119,571 (1) Operating lease payment include $105.8 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $254.7 million of legally binding minimum lease payments for leases executed but not yet commenced.
Schedule of Future Minimum Lease Obligations for Operating Leases	Future minimum lease obligations for operating leases with initial terms in excess of one year at December 30, 2018 are as follows: 2019 $ 167,595 2020 179,058 2021 178,722 2022 170,515 2023 155,173 Thereafter 893,274 Total payments $ 1,744,337
Schedule of Subtenant Agreements	The Company has subtenant agreements under which it will receive rent as follows: 2019 $ 1,544 2020 1,623 2021 1,384 2022 1,290 2023 1,190 Thereafter 3,158 Total subtenant rent $ 10,189
Schedule of Future Minimum Lease Payments Required by All Capital and Financing Leases	As of December 30, 2018, future minimum lease payments required by all capital and financing leases during the initial lease term are as follows: Fiscal Year Capital Leases Financing Leases 2019 $ 1,692 $ 14,881 2020 1,591 14,865 2021 1,591 14,202 2022 1,662 12,538 2023 1,697 10,944 Thereafter 12,202 35,269 Total 20,435 102,699 Plus balloon payment (financing leases) — 93,629 Less amount representing interest (7,655 ) (84,227 ) Net present value of capital and financing lease obligations 12,780 112,101 Less current portion (683 ) (4,556 ) Total long-term $ 12,097 $ 107,545

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 29, 2019
Equity [Abstract]
Schedule of Common Stock Share Repurchase Programs Authorized by Board of Directors from Time to Time and Related Repurchase Activity and Available Authorized	The following table outlines the common stock share repurchase programs authorized by the Company’s board of directors and the related repurchase activity and available authorization as of September 29, 2019. 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 $ 250,000 $ — February 20, 2018 December 31, 2019 $ 350,000 $ 295,017 $ 54,983
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 Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Number of common shares acquired — 719,004 7,302,878 8,411,575 Average price per common share acquired $ — $ 21.29 $ 22.36 $ 22.98 Total cost of common shares acquired $ — $ 15,307 $ 163,310 $ 193,307

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 29, 2019
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 Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Basic net income per share: Net income $ 26,260 $ 37,500 $ 117,995 $ 145,833 Weighted average shares outstanding 118,029 126,855 119,846 129,572 Basic net income per share $ 0.22 $ 0.30 $ 0.98 $ 1.13 Diluted net income per share: Net income $ 26,260 $ 37,500 $ 117,995 $ 145,833 Weighted average shares outstanding - basic 118,029 126,855 119,846 129,572 Dilutive effect of share-based awards: Assumed exercise of options to purchase shares 32 341 62 484 RSUs 42 175 167 193 RSAs 25 82 58 137 PSAs 46 174 94 151 Weighted average shares and equivalent shares outstanding 118,174 127,627 120,227 130,537 Diluted net income per share $ 0.22 $ 0.29 $ 0.98 $ 1.12

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 29, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments	As of September 29, 2019 As of December 30, 2018 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest rate swaps Other current assets $ — Other current assets $ 944 Interest rate swaps Accrued liabilities 143 Other assets 578 Interest rate swaps Other long-term liabilities 7,442 Other long-term liabilities —
Summary of Gains and Losses of Derivative Instruments	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. The following table summarizes these gains and losses classified on the consolidated statements of income: Thirteen weeks ended Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Consolidated Statements of Income Classification Interest expense (income), net $ (54 ) $ (176 ) $ (458 ) $ (115 )

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Sep. 29, 2019
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	The following table presents the changes in accumulated other comprehensive income for the thirty-nine weeks ended September 29, 2019 and September 30, 2018. Cash Flow Hedges Balance at December 31, 2017 $ (784 ) Other comprehensive income (loss), net of tax Unrealized gain on cash flow hedging activities, net of income tax of $1,851 5,351 Total other comprehensive income 5,351 Balance at September 30, 2018 $ 4,567 Balance at December 30, 2018 $ 1,134 Other comprehensive income, net of tax Unrealized loss on cash flow hedging activities, net of income tax of ($2,341) (6,769 ) Total other comprehensive income (loss) (6,769 ) Balance at September 29, 2019 $ (5,635 )

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 29, 2019
Segment Reporting [Abstract]
Summary of Disaggregation of Revenue	In accordance with Accounting Standards Codification 606, “Revenue from Contracts with Customers,” the following table represents a disaggregation of revenue for the thirteen and thirty-nine weeks ended September 29, 2019 and September 30, 2018. Thirteen weeks ended September 29, 2019 September 30, 2018 Perishables $ 844,553 58.6 % $ 777,413 58.5 % Non-Perishables 595,669 41.4 % 551,696 41.5 % Net Sales $ 1,440,222 100.0 % $ 1,329,109 100.0 % Thirty-nine weeks ended September 29, 2019 September 30, 2018 Perishables $ 2,479,091 58.1 % $ 2,283,348 58.0 % Non-Perishables 1,790,753 41.9 % 1,654,650 42.0 % Net Sales $ 4,269,844 100.0 % $ 3,937,998 100.0 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 29, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Share-Based Compensation Awards Granted	During the thirty-nine weeks ended September 29, 2019, the Company granted the following share-based compensation awards under the 2013 Incentive Plan: Grant Date RSUs PSAs Options March 2019 386,115 95,768 53,866 May 2019 45,682 2,999 - June 2019 177,975 75,000 - August 2019 12,313 - - Total 622,085 173,767 53,866 Weighted-average grant date fair value $ 21.62 $ 21.16 $ 7.63 Weighted-average exercise price — — $ 23.12
Summary of Share-Based Compensation Expense in Selling, General and Administrative Expenses	The Company presents share-based compensation expense in selling, general and administrative expenses on the Company’s consolidated statements of income. The amount recognized was as follows: Thirteen weeks ended Thirty-nine weeks ended September 29, 2019 September 30, 2018 September 29, 2019 September 30, 2018 Share-based compensation expense before income taxes $ 2,710 $ 3,043 $ 6,901 $ 11,673 Income tax benefit (697 ) (782 ) (1,647 ) (3,000 ) Net share-based compensation expense $ 2,013 $ 2,261 $ 5,254 $ 8,673
Summary of Outstanding Share-Based Awards	The following share-based awards were outstanding as of September 29, 2019 and September 30, 2018: As of September 29, 2019 September 30, 2018 (in thousands) Options Vested 578 1,816 Unvested 64 98 RSUs 774 694 PSAs 225 366 RSAs 55 182
Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Equity-Based Awards	As of September 29, 2019, total unrecognized compensation expense and remaining weighted average recognition period related to outstanding share-based awards was as follows: Unrecognized compensation expense Remaining weighted average recognition period Options $ 389 2.4 RSUs 13,015 2.0 PSAs 3,042 1.9 RSAs 426 0.4 Total unrecognized compensation expense at September 29, 2019 $ 16,872

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Changes in Presentation Due to Change in Accounting Principle (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018		Sep. 29, 2019	Sep. 30, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales	$ 963,497	$ 885,693	[1]	$ 2,843,989	$ 2,611,492	[1]
Gross profit	476,725	443,416	[1]	1,425,855	1,326,506	[1]
Selling, general and administrative expenses	404,285	362,584	[1]	1,162,226	1,051,771	[1]
Depreciation and amortization (exclusive of depreciation included in cost of sales)	$ 30,764	27,593	[1]	$ 89,788	80,079	[1]
Unadjusted [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales		946,742			2,788,167
Gross profit		382,367			1,149,831
Direct store expenses		281,365			816,933
Selling, general and administrative expenses		43,944			128,828
Store pre-opening costs		3,819			9,414
Change in Accounting Principle [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales		(61,049)			(176,675)
Gross profit		61,049			176,675
Direct store expenses		(281,365)			(816,933)
Selling, general and administrative expenses		318,640			922,943
Depreciation and amortization (exclusive of depreciation included in cost of sales)		27,593			80,079
Store pre-opening costs		$ (3,819)			$ (9,414)
[1]	Effective in the fourth quarter of fiscal year 2018, the Company made a voluntary change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change was applied retrospectively to all periods presented. See Note 2, “Summary of Significant Accounting Policies” for further information.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 29, 2019	Sep. 29, 2019	Dec. 30, 2018
Summary Of Significant Accounting Policy [Line Items]
Operating lease assets		$ 1,045,144	$ 1,045,144
Operating lease liabilities		1,192,228	1,192,228
Cumulative effect adjustment, increase (decrease) retained earnings, net of tax			11,426
Prepaid Expenses and Other Current Assets [Member]
Summary Of Significant Accounting Policy [Line Items]
Restricted cash related to defined benefit plan forfeitures as well as health and welfare restricted funds		1,500	1,500	$ 700
Accounting Standards Update 2014-09 [Member]
Summary Of Significant Accounting Policy [Line Items]
Net gift card liability balance		7,500	7,500	$ 14,600
Accounting Standards Update 2014-09 [Member] | Gift Card Revenue [Member]
Summary Of Significant Accounting Policy [Line Items]
Recognized Revenue		$ 1,400	$ 9,600
ASU No. 2016-02 [Member]
Summary Of Significant Accounting Policy [Line Items]
Operating lease assets	$ 1,000,000
Operating lease liabilities	1,100,000
Cumulative effect adjustment, increase (decrease) retained earnings, net of tax	11,400
Derecognition of financial lease obligations	114,000
Net assets, related to financial lease obligations	$ 102,600

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	Sep. 29, 2019	Dec. 30, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	$ 515,000	$ 453,000
Interest rate swap liability	7,585
Total liabilities	522,585	453,000
Interest rate swap asset		1,522
Total assets		1,522
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	515,000	453,000
Interest rate swap liability	7,585
Total liabilities	$ 522,585	453,000
Interest rate swap asset		1,522
Total assets		$ 1,522

Long-Term Debt and Finance Le_3

Long-Term Debt and Finance Lease Liabilities - Summary of Long-Term Debt and Finance Lease Liabilities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2019	Dec. 30, 2018
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term finance lease liabilities	$ 11,699
Long-term debt and finance lease liabilities	526,699	$ 453,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term debt	$ 515,000	$ 453,000
Debt instrument maturity	Mar. 27, 2023
Debt instrument, Interest Rate	Variable

Long-Term Debt and Finance Le_4

Long-Term Debt and Finance Lease Liabilities - Summary of Long-Term Debt and Finance Lease Liabilities (Parenthetical) (Detail)	Sep. 29, 2019USD ($)
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	$ 700,000,000

Long-Term Debt and Finance Le_5

Long-Term Debt and Finance Lease Liabilities - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 29, 2019	Apr. 01, 2018	Sep. 29, 2019	Sep. 30, 2018	Dec. 30, 2018	Mar. 27, 2018	Apr. 17, 2015
Long Term Debt And Finance Lease Liabilities [Line Items]
Borrowings during the period			$ 187,405,000	$ 180,000,000
Amended and Restated Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Borrowings under credit facilities	$ 515,000,000		$ 515,000,000		$ 453,000,000
Fixed portion of outstanding debt percentage			49.00%
Participation fee			1.50%
Issuance fee			0.125%
Credit facility termination date			Mar. 27, 2023
Borrowings during the period	64,500,000		$ 187,400,000		233,000,000
Principal payments on the Credit Facility	64,500,000		$ 125,400,000		$ 128,000,000
Net leverage ratio			325.00%
Interest coverage ratio			175.00%
Former Credit Facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility maximum borrowing capacity							$ 450,000,000
Credit facility termination date			Apr. 17, 2020
Former Credit Facility [Member] | Swingline Loan Subfacility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount							15,000,000
Senior Lien [Member] | Secured Debt [Member] | Prime Plus [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate			0.50%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Loss on early extinguishment of debt		$ (300,000)
Letters of credit issued	26,900,000		$ 26,900,000
Line of credit interest rate terms			LIBOR plus 1.50% per annum or prime plus 0.5%. 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]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate			1.50%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member] | Minimum [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility unused commitment fee percentage			0.15%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member] | Maximum [Member]
Long Term Debt And Finance Lease Liabilities [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]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	15,000,000		$ 15,000,000
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility maximum borrowing capacity							$ 450,000,000
Borrowings under credit facilities	0		$ 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]
Long Term Debt And Finance Lease Liabilities [Line Items]
Interest rate spread on base rate			1.50%
Senior Lien [Member] | Secured Debt [Member] | Former Credit Facility [Member] | Alternate Base Rate [Member]
Long Term Debt And Finance Lease Liabilities [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]
Long Term Debt And Finance Lease Liabilities [Line Items]
Capitalized debt issuance costs	700,000		$ 700,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Facility [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Debt instrument face amount	700,000,000		700,000,000
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Facility [Member] | Amended and Restated Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Credit facility maximum borrowing capacity						$ 700,000,000
Capitalized debt issuance costs	$ 2,100,000		$ 2,100,000
Interest expense term			5 years

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 29, 2019	Dec. 30, 2018	Dec. 31, 2017	Jan. 01, 2017
Lessee Lease Description [Line Items]
Operating lease description	Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to twenty years or more.
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Operating leases	10 years 3 months 18 days	9 years
Rent expense		$ 137.5	$ 120.5	$ 104.8
Sale leaseback accounting during 2019		$ 2.2
Minimum [Member]
Lessee Lease Description [Line Items]
Leases expiration dates	2019
Maximum [Member]
Lessee Lease Description [Line Items]
Leases expiration dates	2034

Leases - Components of Lease Co

Leases - Components of Lease Cost (Detail) $ in Thousands	9 Months Ended
	Sep. 29, 2019USD ($)
Finance lease cost:
Total net lease cost	$ 171,172
Selling, General and Administrative Expenses [Member]
Lessee Lease Description [Line Items]
Operating lease cost	131,092
Finance lease cost:
Variable lease cost	39,368
Sublease income	(767)
Depreciation and Amortization [Member]
Finance lease cost:
Amortization of Property and Equipment	726
Interest Expense [Member]
Finance lease cost:
Interest on lease liabilities	$ 753

Leases - Components of Lease _2

Leases - Components of Lease Cost (Parenthetical) (Detail) $ in Millions	9 Months Ended
	Sep. 29, 2019USD ($)
Cost of Sales [Member]
Lessee Lease Description [Line Items]
Lease cost related to supply chain-related amounts	$ 6.7

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Sep. 29, 2019	Dec. 30, 2018
Leases [Abstract]
Operating lease assets	$ 1,045,144
Finance, Assets	$ 10,426
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet
Total lease assets	$ 1,055,570
Operating, Current	84,356
Finance, Current	628
Operating, Noncurrent	1,107,872
Finance, Noncurrent	$ 11,699
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	sfm:LongTermDebtAndFinanceLeaseLiabilitiesNoncurrent
Total lease liabilities	$ 1,204,555
Weighted average remaining lease term (years)
Operating leases	10 years 3 months 18 days	9 years
Finance leases	10 years 6 months
Weighted average discount rate
Operating leases	7.40%
Finance leases	8.30%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Information Related to Leases (Detail) $ in Thousands	9 Months Ended
	Sep. 29, 2019USD ($)
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows for operating leases	$ 114,971
Operating cash flows for finance leases	753
Lease assets obtained in exchange for lease liabilities:
Operating leases	$ 157,134

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Detail) $ in Thousands	Sep. 29, 2019USD ($)
Operating Leases
2019	$ 32,612
2020	205,451
2021	188,986
2022	179,652
2023	157,529
2024	158,437
Thereafter	807,302
Total lease payments	1,729,969
Less: Imputed interest	(537,741)
Total lease liabilities	1,192,228
Less: Current portion	(84,356)
Long-term operating lease liabilities	1,107,872
Finance Leases
2019	398
2020	1,724
2021	1,591
2022	1,671
2023	1,556
2024	1,734
Thereafter	10,466
Total lease payments	19,140
Less: Imputed interest	(6,813)
Total lease liabilities	12,327
Less: Current portion	(628)
Long-term finance lease liabilities	11,699
Total
2019	33,010
2020	207,175
2021	190,577
2022	181,323
2023	159,085
2024	160,171
Thereafter	817,768
Total lease payments	1,749,109
Less: Imputed interest	(544,554)
Total lease liabilities	1,204,555
Less: Current portion	(84,984)
Long-term lease liabilities	$ 1,119,571

Leases - Maturities of Lease _2

Leases - Maturities of Lease Liabilities (Parenthetical) (Detail) $ in Millions	Sep. 29, 2019USD ($)
Leases [Abstract]
Operating lease option to extend reasonably certain of being exercised	$ 105.8
Operating lease legally binding minimum payments for leases that have not yet commenced	$ 254.7

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Obligations for Operating Leases (Detail) $ in Thousands	Dec. 30, 2018USD ($)
Leases [Abstract]
2019	$ 167,595
2020	179,058
2021	178,722
2022	170,515
2023	155,173
Thereafter	893,274
Total payments	$ 1,744,337

Leases - Schedule of Subtenant

Leases - Schedule of Subtenant Agreements (Detail) $ in Thousands	Dec. 30, 2018USD ($)
Leases [Abstract]
2019	$ 1,544
2020	1,623
2021	1,384
2022	1,290
2023	1,190
Thereafter	3,158
Total subtenant rent	$ 10,189

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Lease Payments Required by All Capital and Financing Leases (Detail) $ in Thousands	Dec. 30, 2018USD ($)
Capital Leases
2019	$ 1,692
2020	1,591
2021	1,591
2022	1,662
2023	1,697
Thereafter	12,202
Total	20,435
Less amount representing interest	(7,655)
Net present value of capital and financing lease obligations	12,780
Less current portion	(683)
Total long-term	12,097
Financing Leases
2019	14,881
2020	14,865
2021	14,202
2022	12,538
2023	10,944
Thereafter	35,269
Total	102,699
Plus balloon payment (financing leases)	93,629
Less amount representing interest	(84,227)
Net present value of capital and financing lease obligations	112,101
Less current portion	(4,556)
Total long-term	$ 107,545

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	22.80%	17.30%	23.60%	16.40%
Excess tax benefits/(detriments) resulting from equity-based compensation	$ (0.3)	$ 1	$ 0.1	$ 12.4

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - Coffee Supplier [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018	Dec. 30, 2018
Related Party Transaction [Line Items]
Purchases from board member	$ 0	$ 0	$ 0	$ 2,600,000
Accounts payable to supplier	$ 0		$ 0		$ 0

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 ($)	9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Equity Class Of Treasury Stock [Line Items]
Cost of repurchases	$ 163,310,000	$ 193,307,000
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	$ 250,000,000
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
Cost of repurchases	295,017,000
Authorization available	$ 54,983,000

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Share Repurchase Activity under Share Repurchase Programs (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Equity [Abstract]
Number of common shares acquired	0	719,004	7,302,878	8,411,575
Average price per common share acquired	$ 0	$ 21.29	$ 22.36	$ 22.98
Total cost of common shares acquired	$ 0	$ 15,307	$ 163,310	$ 193,307

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			9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018		Sep. 29, 2019	Sep. 30, 2018
Basic net income per share:
Net income	$ 26,260	$ 37,500	[1]	$ 117,995	$ 145,833	[1]
Weighted average shares outstanding - basic	118,029	126,855	[1]	119,846	129,572	[1]
Basic net income per share	$ 0.22	$ 0.30	[1]	$ 0.98	$ 1.13	[1]
Diluted net income per share:
Net income	$ 26,260	$ 37,500	[1]	$ 117,995	$ 145,833	[1]
Weighted average shares outstanding - basic	118,029	126,855	[1]	119,846	129,572	[1]
Dilutive effect of share-based awards:
Assumed exercise of options to purchase shares	32	341		62	484
Weighted average shares and equivalent shares outstanding	118,174	127,627	[1]	120,227	130,537	[1]
Diluted net income per share	$ 0.22	$ 0.29	[1]	$ 0.98	$ 1.12	[1]
RSUs [Member]
Dilutive effect of share-based awards:
Dilutive effect	42	175		167	193
RSAs [Member]
Dilutive effect of share-based awards:
Dilutive effect	25	82		58	137
PSAs [Member]
Dilutive effect of share-based awards:
Dilutive effect	46	174		94	151
[1]	Effective in the fourth quarter of fiscal year 2018, the Company made a voluntary change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change was applied retrospectively to all periods presented. See Note 2, “Summary of Significant Accounting Policies” for further information.

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Stock option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.6	0.7	0.6	1.1
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.4		0.3
PSAs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.1	0.1	0.4	0.1

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail)	9 Months Ended
	Sep. 29, 2019USD ($)Swap	Dec. 30, 2018USD ($)Swap	Dec. 31, 2017Hedge
Derivative [Line Items]
Number of outstanding swaps | Swap	4	4
Derivative, cash flow swaps length period	1 year
Cash flow swaps mature annually, starting year	2019
Cash flow swaps mature annually, ending year	2022
Hedging instruments effectiveness review measurement basis	The Company reviews the effectiveness of its 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			4

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Value of Derivative Instruments (Detail) - Derivatives Designated as Hedging Instruments [Member] - Swaps [Member] - USD ($) $ in Thousands	Sep. 29, 2019	Dec. 30, 2018
Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Assets Derivatives, Fair Value		$ 944
Other Assets [Member]
Derivatives Fair Value [Line Items]
Assets Derivatives, Fair Value		$ 578
Accrued Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair Value	$ 143
Other Long-term Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair Value	$ 7,442

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Gains and Losses of Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Interest Expense (Income), Net [Member]
Derivative Instruments Gain Loss [Line Items]
Loss / (Gain) on Derivative Instruments,net of tax	$ (54)	$ (176)	$ (458)	$ (115)

Comprehensive Income - Changes

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 531,649	$ 601,172	$ 589,196	$ 650,694
Other comprehensive income (loss), net of tax
Unrealized gain/(loss) on cash flow hedging activities, net of income tax	(1,056)	865	(6,769)	5,351
Total other comprehensive income (loss)	(1,056)	865	(6,769)	5,351
Ending Balance	559,921	641,295	559,921	641,295
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			1,134	(784)
Other comprehensive income (loss), net of tax
Unrealized gain/(loss) on cash flow hedging activities, net of income tax			(6,769)	5,351
Total other comprehensive income (loss)			(6,769)	5,351
Ending Balance	$ (5,635)	$ 4,567	$ (5,635)	$ 4,567

Comprehensive Income - Change_2

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Income tax expenses (Benefit) on cash flow hedging activities	$ (365)	$ 299	$ (2,341)	$ 1,851
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Income tax expenses (Benefit) on cash flow hedging activities			$ (2,341)	$ 1,851

Segments - Additional Informati

Segments - Additional Information (Detail)	9 Months Ended
	Sep. 29, 2019Segment
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			9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018		Sep. 29, 2019	Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 1,440,222	$ 1,329,109	[1]	$ 4,269,844	$ 3,937,998	[1]
Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	100.00%	100.00%		100.00%	100.00%
Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 844,553	$ 777,413		$ 2,479,091	$ 2,283,348
Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	58.60%	58.50%		58.10%	58.00%
Non-Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 595,669	$ 551,696		$ 1,790,753	$ 1,654,650
Non-Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	41.40%	41.50%		41.90%	42.00%
[1]	Effective in the fourth quarter of fiscal year 2018, the Company made a voluntary change in accounting principle to change the classification of certain expenses on its consolidated statements of income. The change was applied retrospectively to all periods presented. See Note 2, “Summary of Significant Accounting Policies” for further information.

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock-Based Compensation Awards Granted (Detail)	9 Months Ended
	Sep. 29, 2019$ / sharesshares
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	622,085
Weighted-average grant date fair value | $ / shares	$ 21.62
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	173,767
Weighted-average grant date fair value | $ / shares	$ 21.16
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	53,866
Weighted-average grant date fair value | $ / shares	$ 7.63
Weighted-average exercise price | $ / shares	$ 23.12
March 2019 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	386,115
March 2019 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	95,768
March 2019 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	53,866
May 2019 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	45,682
May 2019 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	2,999
June 2019 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	177,975
June 2019 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	75,000
August 2019 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	12,313

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Sep. 29, 2019	Sep. 30, 2018	Jan. 01, 2017	Jan. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options			$ 4,483	$ 21,051
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]
Awards vested			106,360
PSAs [Member] | March 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description			The criteria was based on a range of performance targets in which grantees could earn between 10% and 150% of the base number of awards granted.
PSAs [Member] | March 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description			The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
PSAs [Member] | 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description			The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
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%		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%		200.00%
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Second Anniversary [Member] | Options [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] | Options [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 | 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%
Option One | 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%
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			1,645,626
Remaining shares available for issuance			5,839,056
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			50,000

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Share-Based Compensation Expense in Selling, General and Administrative Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation expense before income taxes	$ 2,710	$ 3,043	$ 6,901	$ 11,673
Income tax benefit	(697)	(782)	(1,647)	(3,000)
Net share-based compensation expense	$ 2,013	$ 2,261	$ 5,254	$ 8,673

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Outstanding Share-Based Awards (Detail) - shares shares in Thousands	Sep. 29, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested options, outstanding	578	1,816
Unvested options, outstanding	64	98
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	774	694
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	225	366
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	55	182

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Equity-Based Awards (Detail) $ in Thousands	9 Months Ended
	Sep. 29, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense at September 29, 2019	$ 16,872
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding options	$ 389
Remaining weighted average recognition period	2 years 4 months 24 days
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 13,015
Remaining weighted average recognition period	2 years
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 3,042
Remaining weighted average recognition period	1 year 10 months 24 days
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 426
Remaining weighted average recognition period	4 months 24 days