Sprouts Farmers Market (SFM) 10-Q 28 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 27, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 27, 2020
Document Fiscal Year Focus	2020
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	--01-03
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		117,950,276
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. 27, 2020	Dec. 29, 2019
Current assets:
Cash and cash equivalents	$ 137,518	$ 85,314
Accounts receivable, net	24,258	15,713
Inventories	257,255	275,979
Prepaid expenses and other current assets	18,948	10,833
Total current assets	437,979	387,839
Property and equipment, net of accumulated depreciation	735,670	741,508
Operating lease assets, net	1,040,329	1,028,436
Intangible assets, net of accumulated amortization	184,960	185,395
Goodwill	368,878	368,078
Other assets	14,407	11,727
Total assets	2,782,223	2,722,983
Current liabilities:
Accounts payable	163,259	122,839
Accrued liabilities	138,996	136,482
Accrued salaries and benefits	72,155	48,579
Accrued income tax	4,089	2,005
Current portion of operating lease liabilities	130,088	106,153
Current portion of finance lease liabilities	994	754
Total current liabilities	509,581	416,812
Long-term operating lease liabilities	1,074,267	1,078,927
Long-term debt and finance lease liabilities	285,704	549,419
Other long-term liabilities	50,140	41,517
Deferred income tax liability	54,585	54,356
Total liabilities	1,974,277	2,141,031
Commitments and contingencies (Note 6)
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, 117,950,276 shares issued and outstanding, September 27, 2020; 117,543,668 shares issued and outstanding, December 29, 2019	117	117
Additional paid-in capital	682,709	670,966
Accumulated other comprehensive income (loss)	(9,484)	(4,682)
Retained earnings (Accumulated deficit)	134,604	(84,449)
Total stockholders’ equity	807,946	581,952
Total liabilities and stockholders’ equity	$ 2,782,223	$ 2,722,983

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 27, 2020	Dec. 29, 2019
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	117,950,276	117,543,668
Common stock, shares outstanding	117,950,276	117,543,668

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Income Statement [Abstract]
Net sales	$ 1,577,598	$ 1,440,222	$ 4,866,925	$ 4,269,844
Cost of sales	992,829	963,497	3,075,665	2,843,989
Gross profit	584,769	476,725	1,791,260	1,425,855
Selling, general and administrative expenses	475,053	404,285	1,400,234	1,162,226
Depreciation and amortization (exclusive of depreciation included in cost of sales)	31,067	30,764	92,637	89,788
Store closure and other costs, net	268	2,119	(344)	3,396
Income from operations	78,381	39,557	298,733	170,445
Interest expense, net	3,117	5,557	11,681	15,997
Income before income taxes	75,264	34,000	287,052	154,448
Income tax provision	15,023	7,740	67,999	36,453
Net income	$ 60,241	$ 26,260	$ 219,053	$ 117,995
Net income per share:
Basic	$ 0.51	$ 0.22	$ 1.86	$ 0.98
Diluted	$ 0.51	$ 0.22	$ 1.85	$ 0.98
Weighted average shares outstanding:
Basic	117,947	118,029	117,775	119,846
Diluted	118,450	118,174	118,157	120,227

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 60,241	$ 26,260	$ 219,053	$ 117,995
Other comprehensive income/(loss), net of tax
Unrealized gain/(loss) on cash flow hedging activities, net of income tax of $261, ($365), ($1,661), and (2,341)	755	(1,056)	(4,802)	(6,769)
Total other comprehensive income/(loss)	755	(1,056)	(4,802)	(6,769)
Comprehensive income	$ 60,996	$ 25,204	$ 214,251	$ 111,226

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Statement Of Income And Comprehensive Income [Abstract]
Income tax expenses (Benefit) on cash flow hedging activities	$ 261	$ (365)	$ (1,661)	$ (2,341)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid In Capital [Member]	(Accumulated Deficit) Retained Earnings [Member]	(Accumulated Deficit) Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
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 income/(loss)	(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
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Ending Balance at Sep. 29, 2019	$ 559,921	$ 11,426	$ 118	668,522	(103,084)	$ 11,426	(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 income/(loss)	(1,056)						(1,056)
Issuance of shares under stock plans	358			358
Issuance of shares under stock plans, Shares			25,849
Share-based compensation	$ 2,710			2,710
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Ending Balance at Sep. 29, 2019	$ 559,921	$ 11,426	$ 118	668,522	(103,084)	$ 11,426	(5,635)
Ending Balance, Shares at Sep. 29, 2019			118,048,120
Beginning Balance at Dec. 29, 2019	581,952		$ 117	670,966	(84,449)		(4,682)
Beginning Balance, Shares at Dec. 29, 2019			117,452,918
Net income	219,053				219,053
Other comprehensive income/(loss)	(4,802)						(4,802)
Issuance of shares under stock plans	1,343			1,343
Issuance of shares under stock plans, Shares			497,358
Share-based compensation	10,400			10,400
Ending Balance at Sep. 27, 2020	807,946		$ 117	682,709	134,604		(9,484)
Ending Balance, Shares at Sep. 27, 2020			117,950,276
Beginning Balance at Jun. 28, 2020	743,277		$ 117	679,036	74,363		(10,239)
Beginning Balance, Shares at Jun. 28, 2020			117,944,450
Net income	60,241				60,241
Other comprehensive income/(loss)	755						755
Issuance of shares under stock plans, Shares			5,826
Share-based compensation	3,673			3,673
Ending Balance at Sep. 27, 2020	$ 807,946		$ 117	$ 682,709	$ 134,604		$ (9,484)
Ending Balance, Shares at Sep. 27, 2020			117,950,276

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Dec. 29, 2019
Cash flows from operating activities
Net income	$ 219,053	$ 117,995
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	94,748	91,546
Operating lease asset amortization	71,765	62,251
Store closure and other costs, net	(321)	850
Share-based compensation	10,400	6,901
Deferred income taxes	228	(245)
Other non-cash items	1,996	(2,873)
Changes in operating assets and liabilities:
Accounts receivable	7,372	28,978
Inventories	18,724	(21,348)
Prepaid expenses and other current assets	(8,937)	(2,379)
Other assets	(2,575)	(762)
Accounts payable	45,806	63,947
Accrued liabilities	(7)	32,963
Accrued salaries and benefits	23,577	(4,054)
Accrued income tax	2,083	3,764
Operating lease liabilities	(79,602)	(52,209)
Other long-term liabilities	5,954	(2,013)
Cash flows from operating activities	410,264	323,312
Cash flows from investing activities
Purchases of property and equipment	(95,874)	(146,480)
Cash flows used in investing activities	(95,874)	(146,480)
Cash flows from financing activities
Proceeds from revolving credit facilities		187,405
Payments on revolving credit facilities	(263,000)	(125,405)
Payments on finance lease liabilities	(474)	(536)
Repurchase of common stock		(163,310)
Proceeds from exercise of stock options	1,343	4,483
Other		(320)
Cash flows used in financing activities	(262,131)	(97,683)
Increase in cash, cash equivalents, and restricted cash	52,259	79,149
Cash, cash equivalents, and restricted cash at beginning of the period	86,785	2,248	$ 2,248
Cash, cash equivalents, and restricted cash at the end of the period	139,044	81,397	$ 86,785
Supplemental disclosure of cash flow information
Cash paid for interest	11,513	15,212
Cash paid for income taxes	63,393	32,115
Leased assets obtained in exchange for new operating lease liabilities	90,751	157,134
Supplemental disclosure of non-cash investing and financing activities
Property and equipment in accounts payable	$ 13,016	$ 18,396

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 27, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Sprouts Farmers Market, Inc., a Delaware corporation, through its subsidiaries, operates as a healthy grocery store that offers a unique grocery experience featuring fresh, natural, and organic food through an open layout with fresh produce at the heart of the store, as well as 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 29, 2019 (“fiscal year 2019”) included in the Company’s Annual Report on Form 10-K, filed on February 20, 2020. The year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The Company reports its results of operations on a 52- or 53-week fiscal calendar ending on the Sunday closest to December 31. The fiscal year ending January 3, 2021 (“fiscal year 2020”) is a 53-week year and fiscal year 2019 was a 52-week year. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years. All dollar amounts are in thousands, unless otherwise noted.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 27, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Revenue Recognition The Company’s performance obligations are satisfied upon the transfer of goods to the customer, which occurs at the point of sale, and payment from customers is also due at the time of sale. Proceeds from the sale of gift cards are recorded as a liability at the time of sale and recognized as sales when they are redeemed by the customer and the performance obligation is satisfied by the Company. The Company’s gift cards do not expire. Based on historical redemption rates, a small and relatively stable percentage of gift cards will never be redeemed, referred to as "breakage." Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions and was not material in any period presented. Balance at December 29, 2019 Gift Cards Issued During Current Period but Not Redeemed (a) Revenue Recognized from Beginning Liability Balance at September 27, 2020 Gift card liability, net $ 15,902 $ 2,134 $ (9,031 ) $ 9,005 (a) net of estimated breakage The Company does not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current period from performance obligations satisfied in previous periods, or any remaining performance obligations as of September 27, 2020. Restricted Cash Restricted cash relates to defined benefit plan forfeitures as well as health and welfare restricted funds of approximately $1.5 million and $1.5 million as of September 27, 2020 and December 29, 2019, respectively. These balances are included in prepaid expenses and other current assets in the consolidated balance sheets. Recently Adopted Accounting Pronouncements Financial Instruments – Credit Losses In June 2016, the FASB issued ASU no. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this update introduce a new standard to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Subsequent to the initial standards, the FASB has also issued several ASUs to clarify specific topics. The Company adopted ASU 2016-13 effective December 30, 2019, using the modified retrospective approach. There was no impact to opening retained earnings as of December 30, 2019, or the consolidated financial statements dated September 27, 2020. Compensation – Fair Value Disclosures In August 2018, the FASB issued ASU No. 2018-13, “Fair value measurement (Topic 820) – Disclosure framework – Changes to the disclosure requirements for fair value measurement.” The amendments in this update improve the effectiveness of fair value measurement disclosures. The Company adopted this standard effective December 30, 2019. There was no impact on the Company’s disclosure in its consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted Income Taxes – Accounting for Income Taxes In December 2019, the FASB issued ASU no. 2019-12, “Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes.” Among other things, the amendment removes certain exceptions for periods with operating losses, and reduces the complexity surrounding franchise tax, step up in tax basis of goodwill in conjunction with a business combination, and timing of enacting changes in tax laws during interim periods. The amendments in this update are effective for the Company for its fiscal year 2021 with early adoption permitted. The Company does not expect this update to have a material effect on the Company’s consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU no. 2020-04, “Reference rate reform (Topic 848) – Facilitation of the effects of reference rate reform on financial reporting”. The amendments in this update provide optional expedients and exceptions for a limited period of time to ease the potential burden in accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. Generally, the guidance allows contract modifications related to reference rate reform to be considered events that do not require remeasurements or reassessments of previous accounting determinations at the modification date. This update only applies to modifications made prior to December 31, 2022. No such modifications occurred in the period ending September 27, 2020. The Company expects to utilize this optional guidance but does not expect it to have a material impact on its consolidated financial statements. No other new accounting pronouncements issued or effective during the thirteen weeks ended September 27, 2020 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. 27, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company records its financial assets and liabilities in accordance with the framework for measuring fair value in accordance with GAAP. This framework establishes a fair value hierarchy that prioritizes the inputs used to measure fair value: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in the valuation of derivative instruments, impairment analysis of goodwill, intangible assets and long-lived assets. The following tables present the fair value hierarchy for the Company’s financial liabilities measured at fair value on a recurring basis as of September 27, 2020 and December 29, 2019: September 27, 2020 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 275,000 $ — $ 275,000 Interest rate swap liability — 13,209 — 13,209 Total financial liabilities $ — $ 288,209 $ — $ 288,209 December 29, 2019 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 538,000 $ — $ 538,000 Interest rate swap liability — 6,305 — 6,305 Total financial liabilities $ — $ 544,305 $ — $ 544,305 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 27, 2020 and December 29, 2019.

Long-Term Debt and Finance Leas

Long-Term Debt and Finance Lease Liabilities	9 Months Ended
	Sep. 27, 2020
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 27, 2020 December 29, 2019 Senior secured debt $700.0 million Credit Agreement March 27, 2023 Variable $ 275,000 $ 538,000 Finance lease liabilities Various n/a 10,704 11,419 Long-term debt and finance lease liabilities $ 285,704 $ 549,419 Senior Secured Revolving Credit Facility The Company’s subsidiary, Sprouts Farmers Markets Holdings, LLC (“Intermediate Holdings”), is the borrower under an amended and restated credit agreement entered into on March 27, 2018 (the “Amended and Restated Credit Agreement”) to amend and restate the Company’s former’s 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. The Company capitalized debt issuance costs of $2.1 million related to the Amended and Restated Credit Agreement 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 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 $34.4 million have been issued as of September 27, 2020, 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 bore interest at LIBOR plus 1.50% per annum or prime plus 0.50%. 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. As of September 27, 2020, loans under the Amended and Restated Credit Agreement bore interest at LIBOR plus 1.25% per annum or prime plus 0.25%. The interest rate on approximately 91% of outstanding debt under the Amended and Restated Credit Agreement is fixed, reflecting the effects of floating to fixed interest rate swaps (see Note 9, “Derivative Financial Instruments”). As of September 27, 2020, 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 27, 2020, the Company made no additional borrowings and made principal payments totaling $176.0 million and $263.0 million, respectively; resulting in total outstanding debt under the Amended and Restated Credit Agreement of $275.0 million as of September 27, 2020. During fiscal year 2019, the Company borrowed an additional $265.4 million to be used in connection with the Company’s share repurchase programs (see Note 7, “Stockholders’ Equity”) and made a total of $180.4 million of principal payments; resulting in total outstanding debt under the Amended and Restated Credit Agreement of $538.0 million at December 29, 2019. 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 27, 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 27, 2020
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes The Company’s effective tax rate decreased to 20.0% for the thirteen weeks ended September 27, 2020, compared to 22.8% for the thirteen weeks ended September 29, 2019. The decrease in the effective tax rate was primarily due to a benefit for return to provision adjustments in the current year period, partially offset by a decrease in federal tax credits. The income tax benefits resulting from discrete adjustments and return to provision adjustments were $5.4 million and $1.0 million for the thirteen weeks ended September 27, 2020 and September 29, 2019, respectively. The Company’s effective tax rate increased to 23.7% for the thirty-nine weeks ended September 27, 2020, compared to 23.6% for the thirty-nine weeks ended September 29, 2019. The increase in the effective tax rate was primarily due to a decrease in federal tax credits along with tax detriments for share-based payment awards in the current year period compared to prior year period benefits, partially offset by a benefit for discrete adjustments and return to provision adjustments in the current year period. The income tax benefits resulting from return to provision adjustments were $5.4 million and $1.7 million for the thirty-nine weeks ended September 27, 2020 and September 29, 2019, 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 27, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. 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 its 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 consolidated financial statements. “Phishing” Scam Actions In April 2016, four complaints were filed, two in the federal courts of California, one in the Superior Court of California and one in the federal court in the District of Colorado, each on behalf of a purported class of the Company’s current and former team members whose personally identifiable information (“PII”) was inadvertently disclosed to an unauthorized third party that perpetrated an email “phishing” scam against one of the Company’s team members. The complaints alleged the Company failed to properly safeguard the PII in accordance with applicable law. The complaints sought damages on behalf of the purported class in unspecified amounts, attorneys’ fees and litigation expenses. On March 1, 2019, a number of individual plaintiffs filed arbitration demands. On May 15, 2019, certain other plaintiffs filed a second amended class action complaint in the District of Arizona, alleging that certain subclasses of team members are not subject to the Company’s arbitration agreement and attempted to pursue those team members’ claims in federal court. In late August 2019, the Company reached an agreement in principle to settle the majority of these claims, which were funded in the fourth quarter of 2019. Primary funding for the settlement came from the Company’s cyber insurance policy, and the settlement did not have a material impact on the consolidated financial statements. Following the group settlement, three (3) individual claimants planned to proceed with arbitration of their claims. The three individual arbitrations were settled in late June and early July 2020, with immaterial settlement amounts fully funded by the Company’s cyber insurance policy. Proposition 65 Coffee Action On April 13, 2010, an organization named Council for Education and Research on Toxics (“CERT”) filed a lawsuit in the Superior Court of the State of California, County of Los Angeles, against nearly 80 defendants who manufacture, package, distribute or sell brewed coffee, including the Company. CERT alleged that the defendants failed to provide warnings for their coffee products of exposure to the chemical acrylamide as required under California Health and Safety Code section 25249.5, the California Safe Drinking Water and Toxic Enforcement Act of 1986, better known as Proposition 65. CERT seeks equitable relief, i ncluding providing warnings to consumers of coffee products, as well as civil penalties. The Company, as part of a joint defense group, asserted multiple defenses against the lawsuit. On May 7, 2018, the trial court issued a ruling adverse to defendants on these defenses to liability. On June 15, 2018, before the court tried damages, remedies and attorneys' fees, California’s Office of Environmental Health Hazard Assessment (“OEHHA”) published a proposal to amend Proposition 65’s implementing regulations by adding a stand-alone sentence that reads as follows: “Exposures to listed chemicals in coffee created by and inherent in the processes of roasting coffee beans or brewing coffee do not pose a significant risk of cancer.” The proposed regulation has been finalized with an effective date of October 1, 2019. The defendants amended their answers to assert the regulation as an affirmative defense. On August 25, 2020, the court granted the defense motion for summary judgment on the affirmative defense, and the case was dismissed. Although the Company expects CERT to appeal the ruling on the defense motion for summary judgment, the Company is unable to predict or reasonably estimate any potential loss or effect on the Company or its operations. Accordingly, no loss contingency was recorded for this matter.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 27, 2020
Equity [Abstract]
Stockholders' Equity	7. 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 27, 2020. Effective date Expiration date Amount authorized Cost of repurchases Authorization available February 20, 2017 December 31, 2018 $ 250,000 $ 250,000 $ — February 20, 2018 December 31, 2019 $ 350,000 $ 308,017 $ — The Company’s board of directors has not authorized additional share repurchases subsequent to the expiration of the prior authorization on December 31, 2019, and there was no share repurchase authorization available as of September 27, 2020. 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 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Number of common shares acquired — — — 7,302,878 Average price per common share acquired $ — $ — $ — $ 22.36 Total cost of common shares acquired $ — $ — $ — $ 163,310 Shares purchased under the Company’s repurchase programs were subsequently retired.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 27, 2020
Earnings Per Share [Abstract]
Net Income Per Share	8. 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 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Basic net income per share: Net income $ 60,241 $ 26,260 $ 219,053 $ 117,995 Weighted average shares outstanding 117,947 118,029 117,775 119,846 Basic net income per share $ 0.51 $ 0.22 $ 1.86 $ 0.98 Diluted net income per share: Net income $ 60,241 $ 26,260 $ 219,053 $ 117,995 Weighted average shares outstanding - basic 117,947 118,029 117,775 119,846 Dilutive effect of share-based awards: Assumed exercise of options to purchase shares 160 32 14 62 RSUs 318 42 315 167 RSAs — 25 12 58 PSAs 25 46 41 94 Weighted average shares and equivalent shares outstanding 118,450 118,174 118,157 120,227 Diluted net income per share $ 0.51 $ 0.22 $ 1.85 $ 0.98 For the thirteen weeks ended September 27, 2020, the Company had 0.2 million options and 0.3 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirteen weeks ended September 29, 2019, the Company had 0.6 million options, 0.4 million RSUs and 0.1 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirty-nine weeks ended September 27, 2020, the Company had 0.2 million options, 0.1 million RSUs, and 0.3 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirty-nine weeks ended September 29, 2019, the Company had 0.6 million options, 0.3 million RSUs and 0.4 million PSAs outstanding which were excluded from the computation of diluted net income per share as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 27, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	9. 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 three 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 three outstanding swaps was $250.0 These interest rate swaps have been designated and qualify as cash flow hedges and have met the requirements to assume zero ineffectiveness. The Company reviews the effectiveness of its hedging instruments on a quarterly basis. 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 27, 2020 As of December 29, 2019 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest rate swaps Accrued liabilities $ 1,848 Accrued liabilities $ 1,736 Interest rate swaps Other long-term liabilities 11,361 Other long-term liabilities 4,569 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 losses (gains) classified on the consolidated statements of income: Thirteen weeks ended Thirty-nine weeks ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Consolidated Statements of Income Classification Interest expense (income), net $ 1,345 $ (54 ) $ 2,855 $ (458 )

Comprehensive Income

Comprehensive Income	9 Months Ended
	Sep. 27, 2020
Equity [Abstract]
Comprehensive Income	10. Comprehensive Income The following table presents the changes in accumulated other comprehensive income (loss) for the thirty-nine weeks ended September 29, 2019 and September 27, 2020. Cash Flow Hedges Balance at December 30, 2018 $ 1,134 Other comprehensive income (loss), 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 ) Balance at December 29, 2019 $ (4,682 ) Other comprehensive income (loss), net of tax Unrealized loss on cash flow hedging activities, net of income tax of ($1,661) (4,802 ) Total other comprehensive income (loss) (4,802 ) Balance at September 27, 2020 $ (9,484 ) 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. 27, 2020
Segment Reporting [Abstract]
Segments	11. 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 27, 2020 and September 29, 2019. Thirteen weeks ended September 27, 2020 September 29, 2019 Perishables $ 918,860 58.2 % $ 844,553 58.6 % Non-Perishables 658,738 41.8 % 595,669 41.4 % Net Sales $ 1,577,598 100.0 % $ 1,440,222 100.0 % Thirty-nine weeks ended September 27, 2020 September 29, 2019 Perishables $ 2,782,084 57.2 % $ 2,479,091 58.1 % Non-Perishables 2,084,841 42.8 % 1,790,753 41.9 % Net Sales $ 4,866,925 100.0 % $ 4,269,844 100.0 % 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. 27, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	12. 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. 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 as then in effect. Awards Granted During the thirty-nine weeks ended September 27, 2020, the Company granted the following share-based compensation awards under the 2013 Incentive Plan: Grant Date RSUs PSAs Options March 9, 2020 485,367 174,902 1,055,907 May 12, 2020 66,550 11,389 15,569 August 10, 2020 35,655 5,762 14,052 Total 587,572 192,053 1,085,528 Weighted-average grant date fair value $ 18.01 $ 17.26 $ 4.94 Weighted-average exercise price — — $ 16.71 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 27, 2020 , there were stock awards outstanding and shares remaining available for issuance under the 2013 Incentive 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 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 vested 50% on the third anniversary of the grant date (March 2020). During the thirty-nine weeks ended September 27, 2020, 35,697 of the 2017 PSAs vested. There were no outstanding 2017 PSAs as of September 27, 2020. PSAs granted in March 2018 are subject to the Company achieving certain EBIT performance targets for the 2020 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted. If performance conditions are met, the applicable number of performance shares will vest on the third anniversary of the grant date (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 on the third anniversary of the grant date (March 2022). PSAs granted in 2020 are subject to the Company achieving certain earnings before taxes (“EBT”) performance targets for the 2022 fiscal year. The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted. If performance conditions are met, the applicable number of performance shares will vest on the third anniversary of the grant date (March 2023). 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. During the thirty-nine weeks ended September 27, 2020, 55,053 RSAs vested and there were no outstanding RSAs as of September 27, 2020. 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 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Share-based compensation expense before income taxes $ 3,673 $ 2,710 $ 10,400 $ 6,901 Income tax benefit (663 ) (697 ) (2,011 ) (1,647 ) Net share-based compensation expense $ 3,010 $ 2,013 $ 8,389 $ 5,254 The following share-based awards were outstanding as of September 27, 2020 and September 29, 2019: As of September 27, 2020 September 29, 2019 (in thousands) Options Vested 235 578 Unvested 1,095 64 RSUs 914 774 PSAs 315 225 RSAs — 55 As of September 27, 2020, 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 $ 4,469 2.4 RSUs 13,410 1.9 PSAs 7,793 2.0 RSAs — — Total unrecognized compensation expense at September 27, 2020 $ 25,672 During the thirty-nine weeks ended September 27, 2020 and September 29, 2019, the Company received $1.3 million and $4.5 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. 27, 2020
Accounting Policies [Abstract]
Fiscal Years	The Company reports its results of operations on a 52- or 53-week fiscal calendar ending on the Sunday closest to December 31. The fiscal year ending January 3, 2021 (“fiscal year 2020”) is a 53-week year and fiscal year 2019 was a 52-week year. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years.
Revenue Recognition	Revenue Recognition The Company’s performance obligations are satisfied upon the transfer of goods to the customer, which occurs at the point of sale, and payment from customers is also due at the time of sale. Proceeds from the sale of gift cards are recorded as a liability at the time of sale and recognized as sales when they are redeemed by the customer and the performance obligation is satisfied by the Company. The Company’s gift cards do not expire. Based on historical redemption rates, a small and relatively stable percentage of gift cards will never be redeemed, referred to as "breakage." Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions and was not material in any period presented. Balance at December 29, 2019 Gift Cards Issued During Current Period but Not Redeemed (a) Revenue Recognized from Beginning Liability Balance at September 27, 2020 Gift card liability, net $ 15,902 $ 2,134 $ (9,031 ) $ 9,005 (a) net of estimated breakage The Company does not have any material contract assets or receivables from contracts with customers, any revenue recognized in the current period from performance obligations satisfied in previous periods, or any remaining performance obligations as of September 27, 2020.
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 $1.5 million as of September 27, 2020 and December 29, 2019, 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 Financial Instruments – Credit Losses In June 2016, the FASB issued ASU no. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this update introduce a new standard to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Subsequent to the initial standards, the FASB has also issued several ASUs to clarify specific topics. The Company adopted ASU 2016-13 effective December 30, 2019, using the modified retrospective approach. There was no impact to opening retained earnings as of December 30, 2019, or the consolidated financial statements dated September 27, 2020. Compensation – Fair Value Disclosures In August 2018, the FASB issued ASU No. 2018-13, “Fair value measurement (Topic 820) – Disclosure framework – Changes to the disclosure requirements for fair value measurement.” The amendments in this update improve the effectiveness of fair value measurement disclosures. The Company adopted this standard effective December 30, 2019. There was no impact on the Company’s disclosure in its consolidated financial statements.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted Income Taxes – Accounting for Income Taxes In December 2019, the FASB issued ASU no. 2019-12, “Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes.” Among other things, the amendment removes certain exceptions for periods with operating losses, and reduces the complexity surrounding franchise tax, step up in tax basis of goodwill in conjunction with a business combination, and timing of enacting changes in tax laws during interim periods. The amendments in this update are effective for the Company for its fiscal year 2021 with early adoption permitted. The Company does not expect this update to have a material effect on the Company’s consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU no. 2020-04, “Reference rate reform (Topic 848) – Facilitation of the effects of reference rate reform on financial reporting”. The amendments in this update provide optional expedients and exceptions for a limited period of time to ease the potential burden in accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. Generally, the guidance allows contract modifications related to reference rate reform to be considered events that do not require remeasurements or reassessments of previous accounting determinations at the modification date. This update only applies to modifications made prior to December 31, 2022. No such modifications occurred in the period ending September 27, 2020. The Company expects to utilize this optional guidance but does not expect it to have a material impact on its consolidated financial statements. No other new accounting pronouncements issued or effective during the thirteen weeks ended September 27, 2020 had, or are expected to have, a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 27, 2020
Gift Card Revenue [Member]
Schedule of Estimated Breakage Revenue Recognized	Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions and was not material in any period presented. Balance at December 29, 2019 Gift Cards Issued During Current Period but Not Redeemed (a) Revenue Recognized from Beginning Liability Balance at September 27, 2020 Gift card liability, net $ 15,902 $ 2,134 $ (9,031 ) $ 9,005 (a) net of estimated breakage

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 27, 2020
Fair Value Disclosures [Abstract]
Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis	The following tables present the fair value hierarchy for the Company’s financial liabilities measured at fair value on a recurring basis as of September 27, 2020 and December 29, 2019: September 27, 2020 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 275,000 $ — $ 275,000 Interest rate swap liability — 13,209 — 13,209 Total financial liabilities $ — $ 288,209 $ — $ 288,209 December 29, 2019 Level 1 Level 2 Level 3 Total Long-term debt $ — $ 538,000 $ — $ 538,000 Interest rate swap liability — 6,305 — 6,305 Total financial liabilities $ — $ 544,305 $ — $ 544,305

Long-Term Debt and Finance Le_2

Long-Term Debt and Finance Lease Liabilities (Tables)	9 Months Ended
	Sep. 27, 2020
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 27, 2020 December 29, 2019 Senior secured debt $700.0 million Credit Agreement March 27, 2023 Variable $ 275,000 $ 538,000 Finance lease liabilities Various n/a 10,704 11,419 Long-term debt and finance lease liabilities $ 285,704 $ 549,419

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 27, 2020
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 27, 2020. Effective date Expiration date Amount authorized Cost of repurchases Authorization available February 20, 2017 December 31, 2018 $ 250,000 $ 250,000 $ — February 20, 2018 December 31, 2019 $ 350,000 $ 308,017 $ —
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 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Number of common shares acquired — — — 7,302,878 Average price per common share acquired $ — $ — $ — $ 22.36 Total cost of common shares acquired $ — $ — $ — $ 163,310

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 27, 2020
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 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Basic net income per share: Net income $ 60,241 $ 26,260 $ 219,053 $ 117,995 Weighted average shares outstanding 117,947 118,029 117,775 119,846 Basic net income per share $ 0.51 $ 0.22 $ 1.86 $ 0.98 Diluted net income per share: Net income $ 60,241 $ 26,260 $ 219,053 $ 117,995 Weighted average shares outstanding - basic 117,947 118,029 117,775 119,846 Dilutive effect of share-based awards: Assumed exercise of options to purchase shares 160 32 14 62 RSUs 318 42 315 167 RSAs — 25 12 58 PSAs 25 46 41 94 Weighted average shares and equivalent shares outstanding 118,450 118,174 118,157 120,227 Diluted net income per share $ 0.51 $ 0.22 $ 1.85 $ 0.98

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 27, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments	The following table summarizes the fair value of the Company’s derivative instruments designated as hedging instruments: As of September 27, 2020 As of December 29, 2019 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Interest rate swaps Accrued liabilities $ 1,848 Accrued liabilities $ 1,736 Interest rate swaps Other long-term liabilities 11,361 Other long-term liabilities 4,569
Summary of Losses (Gains) 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 losses (gains) classified on the consolidated statements of income: Thirteen weeks ended Thirty-nine weeks ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Consolidated Statements of Income Classification Interest expense (income), net $ 1,345 $ (54 ) $ 2,855 $ (458 )

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Sep. 27, 2020
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The following table presents the changes in accumulated other comprehensive income (loss) for the thirty-nine weeks ended September 29, 2019 and September 27, 2020. Cash Flow Hedges Balance at December 30, 2018 $ 1,134 Other comprehensive income (loss), 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 ) Balance at December 29, 2019 $ (4,682 ) Other comprehensive income (loss), net of tax Unrealized loss on cash flow hedging activities, net of income tax of ($1,661) (4,802 ) Total other comprehensive income (loss) (4,802 ) Balance at September 27, 2020 $ (9,484 )

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 27, 2020
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 27, 2020 and September 29, 2019. Thirteen weeks ended September 27, 2020 September 29, 2019 Perishables $ 918,860 58.2 % $ 844,553 58.6 % Non-Perishables 658,738 41.8 % 595,669 41.4 % Net Sales $ 1,577,598 100.0 % $ 1,440,222 100.0 % Thirty-nine weeks ended September 27, 2020 September 29, 2019 Perishables $ 2,782,084 57.2 % $ 2,479,091 58.1 % Non-Perishables 2,084,841 42.8 % 1,790,753 41.9 % Net Sales $ 4,866,925 100.0 % $ 4,269,844 100.0 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 27, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Share-Based Compensation Awards Granted	During the thirty-nine weeks ended September 27, 2020, the Company granted the following share-based compensation awards under the 2013 Incentive Plan: Grant Date RSUs PSAs Options March 9, 2020 485,367 174,902 1,055,907 May 12, 2020 66,550 11,389 15,569 August 10, 2020 35,655 5,762 14,052 Total 587,572 192,053 1,085,528 Weighted-average grant date fair value $ 18.01 $ 17.26 $ 4.94 Weighted-average exercise price — — $ 16.71
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 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Share-based compensation expense before income taxes $ 3,673 $ 2,710 $ 10,400 $ 6,901 Income tax benefit (663 ) (697 ) (2,011 ) (1,647 ) Net share-based compensation expense $ 3,010 $ 2,013 $ 8,389 $ 5,254
Summary of Outstanding Share-Based Awards	The following share-based awards were outstanding as of September 27, 2020 and September 29, 2019: As of September 27, 2020 September 29, 2019 (in thousands) Options Vested 235 578 Unvested 1,095 64 RSUs 914 774 PSAs 315 225 RSAs — 55
Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Share-Based Awards	As of September 27, 2020, 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 $ 4,469 2.4 RSUs 13,410 1.9 PSAs 7,793 2.0 RSAs — — Total unrecognized compensation expense at September 27, 2020 $ 25,672

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Estimated Breakage Revenue Recognized (Detail) - Gift Card Revenue [Member] $ in Thousands	9 Months Ended
	Sep. 27, 2020USD ($)
Disaggregation Of Revenue [Line Items]
Net gift card liability beginning balance	$ 15,902
Gift cards issued during current period but not redeemed	2,134	[1]
Revenue recognized from beginning liability	(9,031)
Net gift card liability ending balance	$ 9,005
[1]	net of estimated breakage

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Sep. 27, 2020	Dec. 30, 2019	Dec. 29, 2019
ASU no. 2016-13 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, ASU, adopted		true
Change in accounting principle, ASU, Adoption Date		Dec. 30, 2019
Change in accounting principle, ASU, immaterial effect		true
ASU no. 2018-13 [Member]
Summary Of Significant Accounting Policy [Line Items]
Change in accounting principle, ASU, adopted		true
Change in accounting principle, ASU, Adoption Date		Dec. 30, 2019
Change in accounting principle, ASU, immaterial effect		true
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	$ 1.5		$ 1.5

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring [Member] - USD ($) $ in Thousands	Sep. 27, 2020	Dec. 29, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	$ 275,000	$ 538,000
Interest rate swap liability	13,209	6,305
Total financial liabilities	288,209	544,305
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-term debt	275,000	538,000
Interest rate swap liability	13,209	6,305
Total financial liabilities	$ 288,209	$ 544,305

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. 27, 2020	Dec. 29, 2019
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term finance lease liabilities	$ 10,704	$ 11,419
Long-term debt and finance lease liabilities	285,704	549,419
Senior Lien [Member] | Secured Debt [Member] | $700.0 million Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Long-term debt	$ 275,000	$ 538,000
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. 27, 2020USD ($)
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 ($)	Mar. 27, 2018	Sep. 27, 2020	Sep. 27, 2020	Sep. 29, 2019	Dec. 29, 2019	Apr. 17, 2015
Long Term Debt And Finance Lease Liabilities [Line Items]
Borrowings during the period				$ 187,405,000
Amended and Restated Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Fixed portion of outstanding debt percentage			91.00%
Participation fee			1.25%
Issuance fee			0.125%
Credit facility termination date			Mar. 27, 2023
Borrowings during the period		$ 0	$ 0		$ 265,400,000
Principal payments on the Credit Facility		176,000,000	263,000,000		180,400,000
Borrowings under credit facilities		275,000,000	$ 275,000,000		$ 538,000,000
Net leverage ratio			325.00%
Interest coverage ratio			175.00%
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%		0.25%
Senior Lien [Member] | Secured Debt [Member] | Amended and Restated Credit Agreement [Member]
Long Term Debt And Finance Lease Liabilities [Line Items]
Letters of credit issued		34,400,000	$ 34,400,000
Line of credit interest rate terms	LIBOR plus 1.50% per annum or prime plus 0.50%. 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%		1.25%
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 Sub-facility [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
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
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
Interest expense term	5 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	20.00%	22.80%	23.70%	23.60%
Income tax benefits resulting from discrete adjustments and return to provision adjustments	$ 5.4	$ 1	$ 5.4	$ 1.7

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Apr. 13, 2010Defendant	Apr. 30, 2016Complaint	Sep. 27, 2020Complaint
Other Commitments [Line Items]
Number of complaints filed		4
Number of individual claimants			3
Federal Courts of California [Member]
Other Commitments [Line Items]
Number of complaints filed		2
Superior Court of California [Member]
Other Commitments [Line Items]
Number of complaints filed		1
Federal Court in District of Colorado [Member]
Other Commitments [Line Items]
Number of complaints filed		1
Superior Court of State of California and County of Los Angeles [Member]
Other Commitments [Line Items]
Number of defendants | Defendant	80

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. 27, 2020	Sep. 29, 2019
Equity Class Of Treasury Stock [Line Items]
Cost of repurchases		$ 163,310,000
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	$ 308,017,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	Sep. 27, 2020shares
Equity [Abstract]
Share repurchase authorization available	0

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Share Repurchase Activity under Share Repurchase Programs (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 29, 2019USD ($)$ / sharesshares
Equity [Abstract]
Number of common shares acquired | shares	7,302,878
Average price per common share acquired | $ / shares	$ 22.36
Total cost of common shares acquired | $	$ 163,310

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. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Basic net income per share:
Net income	$ 60,241	$ 26,260	$ 219,053	$ 117,995
Weighted average shares outstanding - basic	117,947	118,029	117,775	119,846
Basic net income per share	$ 0.51	$ 0.22	$ 1.86	$ 0.98
Diluted net income per share:
Net income	$ 60,241	$ 26,260	$ 219,053	$ 117,995
Weighted average shares outstanding - basic	117,947	118,029	117,775	119,846
Dilutive effect of share-based awards:
Assumed exercise of options to purchase shares	160	32	14	62
Weighted average shares and equivalent shares outstanding	118,450	118,174	118,157	120,227
Diluted net income per share	$ 0.51	$ 0.22	$ 1.85	$ 0.98
RSUs [Member]
Dilutive effect of share-based awards:
Dilutive effect	318	42	315	167
RSAs [Member]
Dilutive effect of share-based awards:
Dilutive effect		25	12	58
PSAs [Member]
Dilutive effect of share-based awards:
Dilutive effect	25	46	41	94

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Stock option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.2	0.6	0.2	0.6
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities		0.4	0.1	0.3
PSAs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	0.3	0.1	0.3	0.4

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail)	9 Months Ended
	Sep. 27, 2020USD ($)Swap	Dec. 29, 2019USD ($)Swap	Dec. 31, 2017Hedge
Derivative [Line Items]
Derivative, cash flow swaps length period	1 year
Cash flow swaps mature annually, starting year	2020
Cash flow swaps mature annually, ending year	2022
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			3
Number of outstanding swaps | Swap	3	3

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. 27, 2020	Dec. 29, 2019
Accrued Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair Value	$ 1,848	$ 1,736
Other Long-term Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair Value	$ 11,361	$ 4,569

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Losses (Gains) of Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Interest Expense (Income), Net [Member]
Derivative Instruments Gain Loss [Line Items]
Loss / (Gain) on Derivative Instruments,net of tax	$ 1,345	$ (54)	$ 2,855	$ (458)

Comprehensive Income - Changes

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 743,277	$ 531,649	$ 581,952	$ 589,196
Other comprehensive income (loss), net of tax
Unrealized loss on cash flow hedging activities, net of income tax	755	(1,056)	(4,802)	(6,769)
Total other comprehensive income/(loss)	755	(1,056)	(4,802)	(6,769)
Ending Balance	807,946	559,921	807,946	559,921
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(4,682)	1,134
Other comprehensive income (loss), net of tax
Unrealized loss on cash flow hedging activities, net of income tax			(4,802)	(6,769)
Total other comprehensive income/(loss)			(4,802)	(6,769)
Ending Balance	$ (9,484)	$ (5,635)	$ (9,484)	$ (5,635)

Comprehensive Income - Change_2

Comprehensive Income - Changes In Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Income tax expenses (Benefit) on cash flow hedging activities	$ 261	$ (365)	$ (1,661)	$ (2,341)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Income tax expenses (Benefit) on cash flow hedging activities			$ (1,661)	$ (2,341)

Segments - Additional Informati

Segments - Additional Information (Detail)	9 Months Ended
	Sep. 27, 2020Segment
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. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 1,577,598	$ 1,440,222	$ 4,866,925	$ 4,269,844
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	$ 918,860	$ 844,553	$ 2,782,084	$ 2,479,091
Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	58.20%	58.60%	57.20%	58.10%
Non-Perishables [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, amount	$ 658,738	$ 595,669	$ 2,084,841	$ 1,790,753
Non-Perishables [Member] | Sales Revenue, Goods, Net [Member] | Product Concentration Risk [Member]
Disaggregation Of Revenue [Line Items]
Net Sales, percentage	41.80%	41.40%	42.80%	41.90%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock-Based Compensation Awards Granted (Detail) - 2013 Incentive Plan [Member]	9 Months Ended
	Sep. 27, 2020$ / sharesshares
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	587,572
Weighted-average grant date fair value | $ / shares	$ 18.01
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	192,053
Weighted-average grant date fair value | $ / shares	$ 17.26
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	1,085,528
Weighted-average grant date fair value | $ / shares	$ 4.94
Weighted-average exercise price | $ / shares	$ 16.71
March 9, 2020 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	485,367
March 9, 2020 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	174,902
March 9, 2020 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	1,055,907
May 12, 2020 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	66,550
May 12, 2020 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	11,389
May 12, 2020 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	15,569
August 10, 2020 [Member] | RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	35,655
August 10, 2020 [Member] | PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	5,762
August 10, 2020 [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock	14,052

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. 27, 2020	Sep. 29, 2019	Dec. 29, 2019	Jan. 01, 2017	Jan. 03, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options			$ 1,343	$ 4,483
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding			914,000	774,000
RSUs [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
RSUs [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, outstanding			315,000	225,000
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.
Awards vested			35,697
Number of shares, outstanding			0
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] | 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock awards description			The criteria is based on a range of performance targets in which grantees may earn 0% to 200% of the base number of awards granted.
PSAs [Member] | 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%		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%		200.00%
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Awards vested			55,053
Number of shares, outstanding			0	55,000
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
Stock awards outstanding			2,559,249
Remaining shares available for issuance			4,522,005

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. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation expense before income taxes	$ 3,673	$ 2,710	$ 10,400	$ 6,901
Income tax benefit	(663)	(697)	(2,011)	(1,647)
Net share-based compensation expense	$ 3,010	$ 2,013	$ 8,389	$ 5,254

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Outstanding Share-Based Awards (Detail) - shares	Sep. 27, 2020	Sep. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested options, outstanding	235,000	578,000
Unvested options, outstanding	1,095,000	64,000
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	914,000	774,000
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	315,000	225,000
RSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based awards other than options, outstanding	0	55,000

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Total Unrecognized Compensation Expense and Remaining Weighted Average Recognition Period Related to Outstanding Share-Based Awards (Detail) $ in Thousands	9 Months Ended
	Sep. 27, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense at September 27, 2020	$ 25,672
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding options	$ 4,469
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	$ 13,410
Remaining weighted average recognition period	1 year 10 months 24 days
PSAs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to outstanding equity-based awards other than options	$ 7,793
Remaining weighted average recognition period	2 years