Lub Liquidating Trust (LUB) 10-Q 25 Jan 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	4 Months Ended
	Dec. 16, 2015	Jan. 20, 2016
Entity Registrant Name	LUBYS INC
Entity Central Index Key	16,099
Trading Symbol	lub
Current Fiscal Year End Date	--08-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		28,825,754
Document Type	10-Q
Document Period End Date	Dec. 16, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 16, 2015	Aug. 26, 2015
Current Assets:
Cash and cash equivalents	$ 1,581	$ 1,501
Trade accounts and other receivables, net	4,949	5,175
Food and supply inventories	4,948	4,483
Prepaid expenses	2,881	3,402
Assets related to discontinued operations	3	10
Deferred income taxes	577	577
Total current assets	14,939	15,148
Property held for sale	3,058	4,536
Assets related to discontinued operations	3,672	3,671
Property, Plant and Equipment, Net	199,754	200,202
Intangible assets, net	22,089	22,570
Goodwill	1,643	1,643
Deferred income taxes	13,844	12,917
Other assets	3,613	3,571
Total assets	262,612	264,258
Current Liabilities:
Accounts payable	18,912	20,173
Liabilities related to discontinued operations	438	408
Accrued expenses and other liabilities	27,448	23,967
Total current liabilities	46,798	44,548
Credit facility debt	35,000	37,500
Liabilities related to discontinued operations	17	182
Other liabilities	7,429	7,369
Total liabilities	$ 89,244	$ 89,599
Commitments and Contingencies
SHAREHOLDERS’ EQUITY
Common stock, $0.32 par value; 100,000,000 shares authorized; shares issued were 29,325,754 and 29,134,603, respectively; shares outstanding were 28,825,754 and 28,634,603, respectively	$ 9,384	$ 9,323
Paid-in capital	29,465	29,006
Retained earnings	139,294	141,105
Less cost of treasury stock, 500,000 shares	(4,775)	(4,775)
Total shareholders’ equity	173,368	174,659
Total liabilities and shareholders’ equity	$ 262,612	$ 264,258

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 16, 2015	Aug. 26, 2015
Common stock, par value (in dollars per share)	$ 0.32	$ 0.32
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	29,325,754	29,134,603
Common stock, shares outstanding (in shares)	28,825,754	28,634,603
Treasury stock, shares (in shares)	500,000	500,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014	Dec. 16, 2015
SALES:
Restaurant sales	$ 80,557	$ 113,546
Culinary contract services	4,598	4,915
Franchise revenue	1,581	2,125
Vending Revenue	125	158
TOTAL SALES	86,861	120,744
COSTS AND EXPENSES:
Cost of food	23,484	32,434
Payroll and related costs	28,686	39,424
Other operating expenses	14,219	18,421
Occupancy costs	4,942	6,642
Opening costs	925	397
Cost of culinary contract services	4,099	4,422
Cost of franchise operations	384	612
Depreciation and amortization	5,068	7,014
Selling, general and administrative expenses	9,151	13,243
Net (gain) loss on disposition of property and equipment	290	(279)
Total costs and expenses	91,248	122,330
LOSS FROM OPERATIONS	(4,387)	(1,586)
Interest income	1	1
Interest expense	(456)	(696)
Other income (expense), net	180	(118)
Loss before income taxes and discontinued operations	(4,662)	(2,399)
Benefit for income taxes	(1,782)	(660)
Loss from continuing operations	(2,880)	(1,739)
Loss from discontinued operations, net of income taxes	(139)	(72)
NET LOSS	$ (3,019)	$ (1,811)
Loss per share from continuing operations:
Basic (in dollars per share)	$ (0.10)	$ (0.06)
Assuming dilution (in dollars per share)	(0.10)	(0.06)
Loss per share from discontinued operations:
Basic (in dollars per share)	(0.01)	0
Assuming dilution (in dollars per share)	(0.01)	0
Net loss per share:
Basic (in dollars per share)	(0.11)	(0.06)
Assuming dilution (in dollars per share)	$ (0.11)	$ (0.06)
Weighted average shares outstanding:
Basic (in shares)	28,890	29,133
Assuming dilution (in shares)	28,890	29,133

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity (Unaudited) - 4 months ended Dec. 16, 2015 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Aug. 26, 2015	29,135	(500)
Balance at Aug. 26, 2015	$ 9,323	$ (4,775)	$ 29,006	$ 141,105	$ 174,659
Net loss				$ (1,811)	(1,811)
Share-based compensation expense (in shares)	169
Share-based compensation expense	$ 54		$ 391		445
Common stock issued under employee benefit plans (in shares)	22
Common stock issued under employee benefit plans	$ 7		68		75
Balance (in shares) at Dec. 16, 2015	29,326	(500)
Balance at Dec. 16, 2015	$ 9,384	$ (4,775)	$ 29,465	$ 139,294	$ 173,368

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014	Dec. 16, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,019)	$ (1,811)
Adjustments to reconcile net loss to net cash provided by operating activities:
Net (gain) loss on disposition of property and equipment	290	(279)
Depreciation and amortization	5,073	7,021
Amortization of debt issuance cost	$ 36	148
Non-cash compensation expense		75
Share-based compensation expense	$ 322	445
Other non-cash compensation expense		74
Deferred tax benefit	$ (2,028)	(927)
Cash provided by operating activities before changes in operating assets and liabilities	674	4,746
Changes in operating assets and liabilities:
Decrease (Increase) in trade accounts and other receivables	(690)	226
Increase in food and supply inventories	(1,998)	(968)
Decrease in prepaid expenses and other assets	1,118	364
Increase (Decrease) in accounts payable, accrued expenses and other liabilities	(3,431)	1,975
Net cash provided by (used in) operating activities	(4,327)	6,343
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposal of assets and property held for sale	$ 692	1,916
Decrease in notes receivable		17
Purchases of property and equipment	$ (3,589)	(5,729)
Net cash used in investing activities	(2,897)	(3,796)
CASH FLOWS FROM FINANCING ACTIVITIES:
Credit facility borrowings	25,800	27,000
Credit facility repayments	(19,500)	(29,500)
Debt issuance costs	$ (50)	(42)
Proceeds received on the exercise of employee stock options		75
Net cash provided by (used in) financing activities	$ 6,250	(2,467)
Net increase (decrease) in cash and cash equivalents	(974)	80
Cash and cash equivalents at beginning of period	2,788	1,501
Cash and cash equivalents at end of period	$ 1,814	$ 1,581
Cash paid for:
Income taxes
Interest	$ 451	$ 520

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Basis of Presentation The accompanying unaudited Consolidated Financial Statements of Luby’s, Inc. (the “Company” or “Luby’s”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements that are prepared for the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the quarter ended December 16, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2016. The Consolidated Balance Sheet dated August 26, 2015, included in this Quarterly Report on Form 10-Q (this “Form 10-Q”), has been derived from the audited Consolidated Financial Statements as of that date. However, this Form 10-Q does not include all of the information and footnotes required by GAAP for an annual filing of complete financial statements. Therefore, these financial statements should be read in conjunction with the audited Consolidated Financial Statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended August 26, 2015.

Note 2 - Accounting Periods

Note 2 - Accounting Periods	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Accounting Periods Disclosure [Text Block]	Note 2. Accounting Periods The Company’s fiscal year ends on the last Wednesday in August. Accordingly, each fiscal year normally consists of 13 four-week periods, or accounting periods, accounting for 364 days in the aggregate. However, every fifth or sixth year, we have a fiscal year that consists of 53 weeks, accounting for 371 days in the aggregate; fiscal year 2016 will be such a year. Each of the first three quarters of each fiscal year, prior to fiscal year 2016, consisted of three four-week periods, while the fourth quarter normally consisted of four four-week periods. Beginning in fiscal 2016, we changed our fiscal quarter ending dates with the first fiscal quarter end extended by one accounting period and the fiscal fourth quarter being reduced by one accounting period. The purpose of this change is in part to minimize the Thanksgiving calendar shift by extending the first fiscal quarter until after Thanksgiving. With this change in fiscal quarter ending dates, our first quarter is 16 weeks, and the remaining three quarters will typically be 12 weeks in length. The fourth fiscal quarter will be 13 weeks in certain fiscal years to adjust for our standard 52 week, or 364 day, fiscal year compared to the 365 day calendar year. Fiscal 2016 is such a year where the fourth quarter will have 13 weeks, resulting in a 53 week fiscal year. Comparability between quarters may be affected by varying lengths of the quarters, as well as the seasonality associated with the restaurant business.

Note 3 - Reportable Segments

Note 3 - Reportable Segments	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 3. Reportable Segments The Company has three reportable segments: Company-owned restaurants, franchise operations and culinary contract services (“CCS”). Company-owned restaurants Company-owned restaurants consists of several brands which are aggregated into one reportable segment because the nature of the products and services, the production processes, the customers, the methods used to distribute the products and services, the nature of the regulatory environment and store level profit margin are similar. The chief operating decision maker analyzes Company-owned restaurants at store level profit which is revenue less cost of food, payroll and related costs, other operating expenses and occupancy costs. The primary brands are Luby’s Cafeterias, Fuddruckers and Cheeseburger in Paradise, with a non-core restaurant location operating under the brand name Bob Luby’s Seafood. All company-owned restaurants are casual dining restaurants. Each restaurant is an operating segment because operating results and cash flow can be determined for each restaurant. The total number of Company-owned restaurants was 179 at December 16, 2015 and 177 at August 26, 2015. Culinary Contract Services CCS, branded as Luby’s Culinary Contract Services, consists of a business line servicing healthcare, higher education and corporate dining clients. The healthcare accounts are full service and typically include in-room delivery, catering, vending, coffee service and retail dining. CCS has contracts with long-term acute care hospitals, acute care medical centers, ambulatory surgical centers, behavioral hospitals and business and industry clients. CCS has the unique ability to deliver quality services that include facility design and procurement as well as nutrition and branded food services to our clients. The costs of CCS on the Consolidated Statements of Operations include all food, payroll and related costs and other operating expenses related to CCS sales. The total number of CCS contracts was 28 at December 16, 2015 and 23 at August 26, 2015. Franchise Operations We offer franchises for only the Fuddruckers brand. Franchises are sold in markets where expansion is deemed advantageous to the development of the Fuddruckers concept and system of restaurants. Initial franchise agreements have a term of 20 years. Franchise agreements typically grant franchisees an exclusive territorial license to operate a single restaurant within a specified area, usually a four-mile radius surrounding the franchised restaurant. Franchisees bear all direct costs involved in the development, construction and operation of their restaurants. In exchange for a franchise fee, the Company provides franchise assistance in the following areas: site selection, prototypical architectural plans, interior and exterior design and layout, training, marketing and sales techniques, assistance by a Fuddruckers “opening team” at the time a franchised restaurant opens, and operations and accounting guidelines set forth in various policies and procedures manuals. All franchisees are required to operate their restaurants in accordance with Fuddruckers’ standards and specifications, including controls over menu items, food quality and preparation. The Company requires the successful completion of its training program by a minimum of three managers for each franchised restaurant. In addition, franchised restaurants are evaluated regularly by the Company for compliance with franchise agreements, including standards and specifications through the use of periodic, unannounced, on-site inspections and standard evaluation reports. The number of franchised restaurants was 110 at December 16, 2015 and 106 at August 26, 2015. Licensee In November 1997, a prior owner of the Fuddruckers – World’s Greatest Hamburgers ® brand granted to a licensee the exclusive right to use the Fuddruckers proprietary marks, trade dress and system to develop Fuddruckers restaurants in a territory consisting of certain countries in Africa, the Middle East and parts of Asia. As of January 2016, this licensee operated 35 restaurants that are licensed to use the Fuddruckers Proprietary Marks in Saudi Arabia, Egypt, Lebanon, United Arab Emirates, Qatar, Jordan, Bahrain, Kuwait, Morocco and Malaysia. The Company does not receive revenue or royalties from these restaurants. The table below shows segment financial information. The table also lists total assets for each reportable segment. Corporate assets include cash and cash equivalents, property and equipment, assets related to discontinued operations, property held for sale, deferred tax assets and prepaid expenses. Quarter Ended December 16, 2015 November 19, (1 6 weeks) (12 weeks) (In thousands) Sales: Company-owned restaurants (1) $ 113,704 $ 80,682 Culinary contract services 4,915 4,598 Franchise operations 2,125 1,581 Total 120,744 86,861 Segment level profit: Company-owned restaurants $ 16,783 $ 9,351 Culinary contract services 493 499 Franchise operations 1,513 1,197 Total 18,789 11,047 Depreciation and amortization: Company-owned restaurants $ 5,809 $ 4,384 Culinary contract services 37 69 Franchise operations 256 177 Corporate 912 438 Total 7,014 5,068 Capital expenditures: Company-owned restaurants $ 5,494 $ 3,169 Culinary contract services — — Franchise operations — — Corporate 235 420 Total 5,729 3,589 Loss before income taxes and discontinued operations: Segment level profit $ 18,789 $ 11,047 Opening costs (397 ) (925 ) Depreciation and amortization (7,014 ) (5,068 ) Selling, general and administrative expenses (13,243 ) (9,151 ) Net gain (loss) on disposition of property and equipment 279 (290 ) Interest income 1 1 Interest expense (696 ) (456 ) Other expense (income), net (118 ) 180 Loss before income taxes and discontinued operations $ (2,399 ) $ (4,662 ) December 16, 2015 August 2 6 , 201 5 Total assets: Company-owned restaurants (2) $ 217,834 $ 218,492 Culinary contract services 2,229 1,644 Franchise operations (3) 12,555 13,034 Corporate 29,994 31,088 Total $ 262,612 $ 264,258 (1) Includes vending revenue of $158 thousand and $125 thousand for the quarters ended December 16, 2015 and November 19, 2014, respectively. (2) C ompany-owned restaurants segment includes $10.4 million of Fuddruckers trade name, Cheeseburger in Paradise liquor licenses, and Jimmy Buffett intangibles. (3) Franchise operations segment includes approximately $12.0 million in royalty intangibles.

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 4. Fair Value Measurements GAAP establishes a framework for using fair value to measure assets and liabilities. Fair value measurements guidance applies whenever other statements require or permit asset or liabilities to be measured at fair value. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used to measure fair value. These tiers include: ● Level 1: Defined as observable inputs such as quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. ● Level 2: Defined as pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. ● Level 3: Defined as pricing inputs that are unobservable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Non-recurring fair value measurements related to impaired property and equipment consisted of the following: Fair Value Quarter Ended Quoted Significant Significant Total (In thousands) Continuing Operations Property and equipment related to company-owned restaurants $ 5,282 $ — $ — $ 5,282 $ — Discontinued Operations Property and equipment related to company-owned restaurants $ 103 $ — $ — $ 103 $ — Fair Value Quarter Ended Quoted Significant Significant Total (In thousands) Continuing Operations Property and equipment related to company-owned restaurants $ 6,446 $ — $ — $ 6,446 $ — Discontinued Operations Property and equipment related to company-owned restaurants $ 1,144 $ — $ — $ 1,144 $ —

Note 5 - Income Taxes

Note 5 - Income Taxes	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5. Income Taxes No cash payments of estimated federal income taxes were made during the quarter ended December 16, 2015. Deferred tax assets and liabilities are recorded based on differences between the financial reporting basis and the tax basis of assets and liabilities using currently enacted rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are recognized to the extent future taxable income is expected to be sufficient to utilize those assets prior to their expiration. Management believes that adequate provisions for income taxes have been reflected in the financial statements and is not aware of any significant exposure items that have not been reflected in the financial statements. Amounts considered probable of settlement within one year have been included in the accrued expenses and other liabilities in the accompanying Consolidated Balance Sheet.

Note 6 - Property and Equipment

Note 6 - Property and Equipment, Intangible Assets and Goodwill	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Property Equipment Intangible Assets and Goodwill Disclosure [Text Block]	Note 6. Property and Equipment, Intangible Assets and Goodwill The costs, net of impairment, and accumulated depreciation of property and equipment at December 16, 2015 and August 26, 2015, together with the related estimated useful lives used in computing depreciation and amortization, were as follows: December 16, 2015 August 2 6 , 5 Estimated (years) (In thousands) Land $ 63,339 $ 63,298 — Restaurant equipment and furnishings 89,587 85,679 3 to 15 Buildings 160,705 159,391 20 to 33 Leasehold and leasehold improvements 29,739 29,229 Lesser of lease term or estimated useful life Office furniture and equipment 3,727 3,559 3 to 10 Construction in progress 972 810 — 348,069 341,966 Less accumulated depreciation and amortization (148,315 ) (141,764 ) Property and equipment, net $ 199,754 $ 200,202 Intangible assets, net $ 22,089 $ 22,570 21 Goodwill $ 1,643 $ 1,643 — Intangible assets, net, consist of the Fuddruckers trade name and franchise agreements and will be amortized. The Company believes the Fuddruckers brand name has an expected accounting life of 21 years from the date of acquisition based on the expected use of its assets and the restaurant environment in which it is being used. The trade name represents a respected brand with customer loyalty and the Company intends to cultivate and protect the use of the trade name. The franchise agreements, after considering renewal periods, have an estimated accounting life of 21 years from the date of acquisition and will be amortized over this period of time. Intangible assets, net, also includes the license agreement and trade name related to Cheeseburger in Paradise and the value of the acquired licenses and permits allowing the sales of beverages with alcohol. These assets have an expected accounting life of 15 years from the date of acquisition December 6, 2012. The aggregate amortization expense related to intangible assets subject to amortization was $0.5 million for the quarter ended December 16, 2015 and $0.3 million for the quarter ended November 19, 2014. The aggregate amortization expense related to intangible assets subject to amortization is expected to be $1.4 million in each of the next five successive years. The following table presents intangible assets as of December 16, 2015 and August 26, 2015: December 16, 2015 August 26, 2015 (In thousands) (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible Assets Subject to Amortization: Fuddruckers trade name and franchise agreements $ 29,607 $ (7,633 ) $ 21,974 $ 29,607 $ (7,166 ) $ 22,441 Cheeseburger in Paradise trade name and license agreements $ 416 $ (301 ) $ 115 $ 416 $ (287 ) $ 129 Intangible assets, net $ 30,023 $ (7,934 ) $ 22,089 $ 30,023 $ (7,453 ) $ 22,570 The Company recorded, in fiscal 2010, an intangible asset for goodwill in the amount of approximately $0.2 million related to the acquisition of substantially all of the assets of Fuddruckers. The Company also recorded, in fiscal 2013, an intangible asset for goodwill in the amount of approximately $2.0 million related to the acquisition of Cheeseburger in Paradise. Goodwill is considered to have an indefinite useful life and is not amortized. Management performs its formal annual assessment as of the second quarter each fiscal year. The individual restaurant level is the level at which goodwill is assessed for impairment under ASC 350. In accordance with our understanding of ASC 350, we have allocated the goodwill value to each reporting unit in proportion to each location’s fair value at the date of acquisition. The result of these assessments were impairment of goodwill of $38 thousand and $0.5 million in fiscal years 2015 and 2014, respectively. The Company will formally perform additional assessments on an interim basis if an event occurs or circumstances exist that indicate that it is more likely than not that a goodwill impairment exists. As of January 20, 2016, of the 23 locations that were acquired, eight locations remain operating as Cheeseburger in Paradise restaurants, eight locations were closed and converted to Fuddruckers restaurants, two locations where the option to extend the lease was not exercised, two locations subleased to franchisees and three closed and held for future use. Goodwill, net of accumulated impairments of approximately $0.6 million, was approximately $1.6 million as of December 16, 2016 and as of August 26, 2015, and relates to our Company-owned restaurants reportable segments.

Note 7 - Impairment of Long-Liv

Note 7 - Impairment of Long-Lived Assets, Discontinued Operations and Property Held for Sale	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Impairment of Long Lived Assets Discontinued Operations and Property Held For Sale Disclosure [Text Block]	Note 7. Impairment of Long-Lived Assets, Discontinued Operations and Property Held for Sale Impairment of Long-Lived Assets and Store Closings The Company periodically evaluates long-lived assets held for use and held for sale whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable. The Company analyzes historical cash flows of operating locations and compares results of poorer performing locations to more profitable locations. The Company also analyzes lease terms, condition of the assets and related need for capital expenditures or repairs, as well as construction activity and the economic and market conditions in the surrounding area. For assets held for use, the Company estimates future cash flows using assumptions based on possible outcomes of the areas analyzed. If the undiscounted future cash flows are less than the carrying value of the location’s assets, the Company records an impairment loss based on an estimate of discounted cash flows. The estimates of future cash flows, based on reasonable and supportable assumptions and projections, require management’s subjective judgments. Assumptions and estimates used include operating results, changes in working capital, discount rate, growth rate, anticipated net proceeds from disposition of the property and, if applicable, lease terms. The span of time for which future cash flows are estimated is often lengthy, increasing the sensitivity to assumptions made. The time span could be 20 to 25 years for newer properties, but only 5 to 10 years for older properties. Depending on the assumptions and estimates used, the estimated future cash flows projected in the evaluation of long-lived assets can vary within a wide range of outcomes. The Company considers the likelihood of possible outcomes in determining the best estimate of future cash flows. The measurement for such an impairment loss is then based on the fair value of the asset as determined by discounted cash flows. The Company recognized the following impairment charges to income from operations: Quarter Ended December 16, 5 November 19 , 4 (1 6 weeks) (12 weeks) (In thousands, except per share data) Provision for asset impairments $ — $ — Net (gain) loss on disposition of property and equipment (279 ) 290 $ (279 ) $ 290 Effect on EPS: Basic $ 0.01 $ (0.01 ) Assuming dilution $ 0.01 $ (0.01 ) There was no impairment charge for the quarters ended December 16, 2015 and November 19, 2014. The net gain for the quarter ended December 16, 2015 is primarily attributable to the sale of one property location. The net loss for the quarter ended November 19, 2014 includes losses on the sale of equipment and other normal asset retirement activity. Discontinued Operations On March 21, 2014, the Board of Directors of the Company approved a plan focused on improving cash flow from the acquired Cheeseburger in Paradise leasehold locations. On March 24, 2014, the Company announced a plan focused on improving cash flow from the acquired Cheeseburger in Paradise leasehold locations. This underperforming Cheeseburger in Paradise leasehold disposal plan called for five or more units to be closed by the end of fiscal 2014 and disposed of within 12 months. As of December 16, 2015, one location was reclassified to continuing operations and was reopened as a Fuddruckers restaurant. Three locations remain closed for disposal and classified as discontinued operations as of December 16, 2015. As a result of the first quarter fiscal year 2010 adoption of the Company’s Cash Flow Improvement and Capital Redeployment Plan, the Company reclassified 24 Luby’s Cafeterias to discontinued operations. As of December 16, 2015, one location remains held for sale. The following table sets forth the assets and liabilities for all discontinued operations: December 16, 2015 August 2 6 , 201 5 (In thousands) Prepaid expenses 3 10 Assets related to discontinued operations—current $ 3 $ 10 Property and equipment 1,874 1,873 Other assets 1,798 1,798 Assets related to discontinued operations—non-current $ 3,672 $ 3,671 Deferred income taxes $ 343 $ 343 Accrued expenses and other liabilities 95 65 Liabilities related to discontinued operations—current $ 438 $ 408 Other liabilities $ 17 $ 182 Liabilities related to discontinued operations—non-current $ 17 $ 182 The Company is actively marketing all but one of these properties for sale. This property has been sublet to an existing franchisee. The Company’s results of discontinued operations will be affected by the disposal of properties related to discontinued operations to the extent proceeds from the sales exceed or are less than net book value. The following table sets forth the sales and pretax losses reported from discontinued operations: Quarter Ended December 16 , 201 5 November 19 , 201 4 ( 1 6 weeks) ( 12 weeks) (In thousands, except discontinued locations) Sales $ — $ — Pretax loss (118 ) (245 ) Income tax benefit from discontinued operations 46 106 Loss from discontinued operations $ (72 ) $ (139 ) Discontinued locations closed during the period — — The following table summarizes discontinued operations for the first quarters of fiscal 2016 and 2015: Quarter Ended December 16 , 201 5 November 19, 2014 (1 6 weeks) (12 weeks) (In thousands, except per share data) Discontinued operating loss $ (118 ) $ (245 ) Impairments — — Net gains (losses) — — Pretax loss $ (118 ) (245 ) Income tax benefit from discontinued operations 46 106 Loss from discontinued operations $ (72 ) $ (139 ) Effect on EPS from discontinued operations—basic $ (0.00 ) $ (0.00 ) Impairment charges included above relate to properties closed and designated for immediate disposal. The assets of these individual operating units have been written down to their net realizable values. In turn, the related properties have either been sold or are being actively marketed for sale. Dispositions are expected to be completed within one to three years. Within discontinued operations, the Company also recorded the related fiscal year-to-date net operating results, employee terminations and carrying costs of the closed units. Property Held for Sale The Company periodically reviews long-lived assets against its plans to retain or ultimately dispose of properties. If the Company decides to dispose of a property, it will be moved to property held for sale and actively marketed. The Company analyzes market conditions each reporting period and records additional impairments due to declines in market values of like assets. The fair value of the property is determined by observable inputs such as appraisals and prices of comparable properties in active markets for assets like the Company’s. Gains are not recognized until the properties are sold. Property held for sale includes unimproved land, closed restaurant properties and related equipment for locations not classified as discontinued operations. The specific assets are valued at the lower of net depreciable value or net realizable value. At December 16, 2015, the Company had three owned properties recorded at approximately $3.1 million in property held for sale. At August 26, 2015, the Company had four owned properties recorded at approximately $4.5 million in property held for sale. The Company is actively marketing the locations currently classified as property held for sale

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 8. Commitments and Contingencies Off-Balance Sheet Arrangements The Company has no off-balance sheet arrangements, except for operating leases. Pending Claims From time to time, the Company is subject to various private lawsuits, administrative proceedings and claims that arise in the ordinary course of its business. A number of these lawsuits, proceedings and claims may exist at any given time. These matters typically involve claims from guests, employees and others related to issues common to the restaurant industry. The Company currently believes that the final disposition of these types of lawsuits, proceedings and claims will not have a material adverse effect on the Company’s financial position, results of operations or liquidity. It is possible, however, that the Company’s future results of operations for a particular fiscal quarter or fiscal year could be impacted by changes in circumstances relating to lawsuits, proceedings or claims. Construction Activity From time to time, the Company enters into non-cancelable contracts for the construction of its new restaurants. This construction activity exposes the Company to the risks inherent in new construction, including but not limited to rising material prices, labor shortages, delays in getting required permits and inspections, adverse weather conditions, and injuries sustained by workers and contract termination expenses. The Company had three non-cancelable contracts as of December 16, 2015.

Note 9 - Related Parties

Note 9 - Related Parties	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 9. Related Parties Affiliate Services Christopher J. Pappas, the Company’s Chief Executive Officer, and Harris J. Pappas, director and former Chief Operating Officer of the Company, own two restaurant entities (the “Pappas entities”) that from time to time may provide services to the Company and its subsidiaries, as detailed in the Amended and Restated Master Sales Agreement effective November 8, 2013 among the Company and the Pappas entities. Under the terms of the Amended and Restated Master Sales Agreement, the Pappas entities may provide specialized (customized) equipment fabrication and basic equipment maintenance, including stainless steel stoves, shelving, rolling carts, and chef tables. There were no costs incurred under the Amended and Restated Master Sales Agreement of custom-fabricated and refurbished equipment in the quarters ended December 16, 2015 and November 19, 2014. Services provided under this agreement are subject to review and approval by the Finance and Audit Committee of the Board of Directors of the Company (the “Board”). Operating Leases In the third quarter of fiscal 2004, Messrs. Pappas became partners in a limited partnership which purchased a retail strip center in Houston, Texas. Messrs. Pappas collectively own a 50% limited partnership interest and a 50% general partnership interest in the limited partnership. A third party company manages the center. One of the Company’s restaurants has rented approximately 7% of the space in that center since July 1969. No changes were made to the Company’s lease terms as a result of the transfer of ownership of the center to the new partnership. On November 22, 2006, the Company executed a new lease agreement with respect to this shopping center. Effective upon the Company’s relocation and occupancy into the new space in July 2008, the new lease agreement provides for a primary term of approximately 12 years with two subsequent five-year options and gives the landlord an option to buy out the tenant on or after the calendar year 2015 by paying the then unamortized cost of improvements to the tenant. The Company is currently obligated to pay rent of $22.00 per square foot plus maintenance, taxes, and insurance during the remaining primary term of the lease. Thereafter, the lease provides for increases in rent at set intervals. The Company made payments of $103,000 and $68,000 in the quarters ended December 16, 2015 and November 19, 2014, respectively. The new lease agreement was approved by the Finance and Audit Committee. In the third quarter of fiscal year 2014, on March 12, 2014, the Company executed a new lease agreement which one of the Company’s Houston Fuddruckers location was purchased from a prior landlord by Pappas Restaurants, Inc., a 100% undivided interest. No changes were made to our lease terms as a result of the transfer of ownership. The lease provides for a primary term of approximately six years with two subsequent five-year options. Pursuant to the new ground lease agreement, the Company is currently obligated to pay $27.56 per square foot plus maintenance, taxes, and insurance from March 12, 2014 until November 30, 2016. Thereafter, the new ground lease agreement provides for increases in rent at set intervals. The Company made payments of $40,000 and $27,000 in the quarters ended December 16, 2015 and November 19, 2014, respectively Quarter Ended December 16, 2015 November 19, (1 6 weeks) (12 weeks) (In thousands, except percentages) AFFILIATED COSTS INCURRED: General and administrative expenses—professional and other costs $ — $ — Capital expenditures — — Other operating expenses, occupancy costs and opening costs, including property leases 143 95 Total $ 143 $ 95 RELATIVE TOTAL COMPANY COSTS: Selling, general and administrative expenses $ 13,243 $ 9,151 Capital expenditures 5,729 3,589 Other operating expenses, occupancy costs and opening costs 25,460 20,086 Total $ 44,432 $ 32,826 AFFILIATED COSTS INCURRED AS A PERCENTAGE OF RELATIVE TOTAL COMPANY COSTS 0.32 % 0.29 % Board of Directors Christopher J. Pappas is a member of the Advisory Board of Amegy Bank, National Association, which is a lender and syndication agent under the Company’s 2013 Revolving Credit Facility. Key Management Personnel The Company entered into a new employment agreement with Christopher Pappas on January 24, 2014. The employment agreement was amended on December 1, 2014, to extend the termination date thereof to August 31, 2016, unless earlier terminated. Mr. Pappas continues to devote his primary time and business efforts to the Company while maintaining his role at Pappas Restaurants, Inc. Peter Tropoli, a director of the Company and the Company’s Chief Operating Officer, and formerly the Company’s Senior Vice President, Administration, General Counsel and Secretary, is an attorney and stepson of Frank Markantonis, who is a director of the Company. Paulette Gerukos, Vice President of Human Resources of the Company, is the sister-in-law of Harris J. Pappas, who is a director of the Company.

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 10. Share-Based Compensation We have two active share based stock plans, the Employee Stock Plan and the Nonemployee Director Stock Plan. Both plans authorize the granting of stock options, restricted stock and other types of awards consistent with the purpose of the plans. Of the 1.1 million shares approved for issuance under the Nonemployee Director Stock Plan, 0.9 million options, restricted stock units and restricted stock awards were granted, and 0.1 million options were cancelled or expired and added back into the plan, since the plan’s inception. Approximately 0.3 million shares remain available for future issuance as of December 16, 2015. Compensation cost for share-based payment arrangements under the Nonemployee Director Stock Plan, recognized in selling, general and administrative expenses for the quarters ended December 16, 2015 and November 19, 2014 were approximately $197,000 and $167,000, respectively. Of the 2.6 million shares approved for issuance under the Employee Stock Plan, 5.7 million options and restricted stock units were granted, and 3.4 million options and restricted stock units were cancelled or expired and added back into the plan, since the plan’s inception. Approximately 0.3 million shares remain available for future issuance as of December 16, 2015. Compensation cost for share-based payment arrangements under the Employee Stock Plan, recognized in selling, general and administrative expenses for the quarters ended December 16, 2015 and November 19, 2014, were approximately $455,000 and $154,000, respectively. Included in the fiscal quarter ended December 16, 2015 share based compensation cost is approximately $252,000, which represents accelerated share-based compensation expense as a result of the cancellation of 312,663 stock options. In 2015, the Company approved a Total Shareholder Return, (TSR), Performance Based Incentive Plan which provides for a right to receive an unspecified number of shares of common stock under the Employee Stock Plan based on the total shareholder return ranking compared to a selection of peer companies over a three-year cycle. The award value varies from 0% to 200% of a base amount, as a result of the Company’s TSR performance in comparison to its peers over the measurement period. The number of shares at the end of the three-year period will be determined as the award value divided by the closing stock price on the last day of each fiscal year accordingly. Since the plan provides for an undeterminable number of shares, the plan is accounted for as a liability based plan. As of December 16, 2015, the estimated fair value of the performance shares liability at the end of fiscal 2017 and fiscal 2018, were $0.5 million for both years. The estimated liability has been determined based on a Monte Carlo simulation model. Based on this estimate, management accrues expense ratably over the three-year service periods. A valuation estimate of the future liability associated with each fiscal year's performance award plan will be performed periodically with adjustments made to the outstanding liability at each reporting period, as appropriate. As of December 16, 2015, the Company has recorded $74,000 in non-cash compensation expense in selling, general and administrative expenses related to its TSR Performance Based Incentive Plans. Stock Options Stock options granted under either the Employee Stock Plan or the Nonemployee Director Stock Plan have exercise prices equal to the market price of the Company’s common stock at the date of the grant. Option awards under the Nonemployee Director Stock Plan generally vest 100% on the first anniversary of the grant date and expire ten years from the grant date. No options were granted under the Nonemployee Director Stock Plan in the quarter ended December 16, 2015. No options to purchase shares remain outstanding under this plan as of December 16, 2015. Options granted under the Employee Stock Plan generally vest 50% on the first anniversary date of the grant date, 25% on the second anniversary of the grant date and 25% on the third anniversary of the grant date, with all options expiring ten years from the grant date. All options granted in fiscal quarter ended December 16, 2015 were granted under the Employee Stock Plan. Options to purchase 1,210,089 shares at option prices of $3.44 to $11.10 per share remain outstanding as of December 16, 2015. A summary of the Company’s stock option activity for the quarter ended December 16, 2015 is presented in the following table: Shares Under Fixed Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (Per share) (Years) (In thousands) Outstanding at August 26, 2015 1,288,099 $ 4.76 6.5 $ 350 Granted 279,944 4.89 — — Exercised (19,750 ) 3.44 — — Cancelled (312,663 ) 4.98 — — Forfeited/Expired (25,541 ) 4.34 — — Outstanding at December 16, 2015 1,210,089 $ 4.76 7.3 $ 138 Exercisable at December 16, 2015 415,951 $ 4.93 3.5 $ 138 The intrinsic value for stock options is defined as the difference between the current market value, or closing price on December 16, 2015, and the grant price on the measurement dates in the table above. Restricted Stock Units Grants of restricted stock units consist of the Company’s common stock and generally vest after three years. All restricted stock units are cliff-vested. Restricted stock units are valued at the closing market price of the Company’s common stock at the date of grant. A summary of the Company’s restricted stock unit activity during the quarter ended December 16, 2015 is presented in the following table: Restricted Stock Units Weighted Average Fair Value Weighted- Average Remaining Contractual Term (Per share) (In years) Unvested at August 26, 2015 409,417 $ 5.98 1.6 Granted 166,619 4.89 — Vested (197,482 ) 5.95 — Forfeited (4,202 ) 5.95 — Unvested at December 16, 2015 374,352 $ 5.51 2.4 At December 16, 2015, there was approximately $2.5 million of total unrecognized compensation cost related to unvested restricted stock units that is expected to be recognized over a weighted-average period of 2.4 years. Restricted Stock Awards Under the Nonemployee Director Stock Plan, directors are granted restricted stock in lieu of cash payments, for all or a portion of their compensation as directors. The number of shares granted is valued at the closing market price of the Company’s stock at the date of the grant. Restricted stock awards vest when granted because they are granted in lieu of a cash payment. However, directors are restricted from selling their shares until after the third anniversary of the date of the grant. Directors may receive a 20% premium of additional restricted stock by opting to receive stock in lieu of cash.

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	4 Months Ended
	Dec. 16, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 11. Earnings Per Share Basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding and unvested restricted stock for the reporting period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted net income per share, the basic weighted average number of shares is increased by the dilutive effect of stock options determined using the treasury stock method. Stock options excluded from the computation of net income per share for the quarter ended December 16, 2015 include approximately 1,050,089 shares with exercise prices exceeding market prices and approximately 88,000 shares whose inclusion would also be anti-dilutive. The components of basic and diluted net income per share are as follows: Quarter Ended December 16, 2015 November 19, (1 6 weeks) (12 weeks) (In thousands, expect per share data) Numerator: Loss from continuing operations $ (1,739 ) $ (2,880 ) Loss from discontinued operations (72 ) (139 ) Net loss $ (1,811 ) $ (3,019 ) Denominator: Denominator for basic earnings per share—weighted-average shares 29,133 28,890 Effect of potentially dilutive securities: Employee and non-employee stock options — — Denominator for earnings per share assuming dilution 29,133 28,890 Loss per share from continuing operations: Basic $ (0.06 ) $ (0.10 ) Assuming dilution $ (0.06 ) $ (0.10 ) Loss per share from discontinued operations: Basic $ (0.00 ) $ (0.01 ) Assuming dilution $ (0.00 ) $ (0.01 ) Net loss per share: Basic $ (0.06 ) $ (0.11 ) Assuming dilution $ (0.06 ) $ (0.11 )

Note 3 - Reportable Segments (T

Note 3 - Reportable Segments (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended December 16, 2015 November 19, (1 6 weeks) (12 weeks) (In thousands) Sales: Company-owned restaurants (1) $ 113,704 $ 80,682 Culinary contract services 4,915 4,598 Franchise operations 2,125 1,581 Total 120,744 86,861 Segment level profit: Company-owned restaurants $ 16,783 $ 9,351 Culinary contract services 493 499 Franchise operations 1,513 1,197 Total 18,789 11,047 Depreciation and amortization: Company-owned restaurants $ 5,809 $ 4,384 Culinary contract services 37 69 Franchise operations 256 177 Corporate 912 438 Total 7,014 5,068 Capital expenditures: Company-owned restaurants $ 5,494 $ 3,169 Culinary contract services — — Franchise operations — — Corporate 235 420 Total 5,729 3,589 Loss before income taxes and discontinued operations: Segment level profit $ 18,789 $ 11,047 Opening costs (397 ) (925 ) Depreciation and amortization (7,014 ) (5,068 ) Selling, general and administrative expenses (13,243 ) (9,151 ) Net gain (loss) on disposition of property and equipment 279 (290 ) Interest income 1 1 Interest expense (696 ) (456 ) Other expense (income), net (118 ) 180 Loss before income taxes and discontinued operations $ (2,399 ) $ (4,662 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	December 16, 2015 August 2 6 , 201 5 Total assets: Company-owned restaurants (2) $ 217,834 $ 218,492 Culinary contract services 2,229 1,644 Franchise operations (3) 12,555 13,034 Corporate 29,994 31,088 Total $ 262,612 $ 264,258

Note 4 - Fair Value Measureme19

Note 4 - Fair Value Measurements (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Fair Value Quarter Ended Quoted Significant Significant Total (In thousands) Continuing Operations Property and equipment related to company-owned restaurants $ 5,282 $ — $ — $ 5,282 $ — Discontinued Operations Property and equipment related to company-owned restaurants $ 103 $ — $ — $ 103 $ — Fair Value Quarter Ended Quoted Significant Significant Total (In thousands) Continuing Operations Property and equipment related to company-owned restaurants $ 6,446 $ — $ — $ 6,446 $ — Discontinued Operations Property and equipment related to company-owned restaurants $ 1,144 $ — $ — $ 1,144 $ —

Note 6 - Property and Equipme20

Note 6 - Property and Equipment, Intangible Assets and Goodwill (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Property Equipment Intangible Assets and Goodwill Disclosure [Table Text Block]	December 16, 2015 August 2 6 , 5 Estimated (years) (In thousands) Land $ 63,339 $ 63,298 — Restaurant equipment and furnishings 89,587 85,679 3 to 15 Buildings 160,705 159,391 20 to 33 Leasehold and leasehold improvements 29,739 29,229 Lesser of lease term or estimated useful life Office furniture and equipment 3,727 3,559 3 to 10 Construction in progress 972 810 — 348,069 341,966 Less accumulated depreciation and amortization (148,315 ) (141,764 ) Property and equipment, net $ 199,754 $ 200,202 Intangible assets, net $ 22,089 $ 22,570 21 Goodwill $ 1,643 $ 1,643 —
Schedule of Intangible Assets and Goodwill [Table Text Block]	December 16, 2015 August 26, 2015 (In thousands) (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible Assets Subject to Amortization: Fuddruckers trade name and franchise agreements $ 29,607 $ (7,633 ) $ 21,974 $ 29,607 $ (7,166 ) $ 22,441 Cheeseburger in Paradise trade name and license agreements $ 416 $ (301 ) $ 115 $ 416 $ (287 ) $ 129 Intangible assets, net $ 30,023 $ (7,934 ) $ 22,089 $ 30,023 $ (7,453 ) $ 22,570

Note 7 - Impairment of Long-L21

Note 7 - Impairment of Long-Lived Assets, Discontinued Operations and Property Held for Sale (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Schedule of Restructuring and Asset Impairment Charges [Table Text Block]	Quarter Ended December 16, 5 November 19 , 4 (1 6 weeks) (12 weeks) (In thousands, except per share data) Provision for asset impairments $ — $ — Net (gain) loss on disposition of property and equipment (279 ) 290 $ (279 ) $ 290 Effect on EPS: Basic $ 0.01 $ (0.01 ) Assuming dilution $ 0.01 $ (0.01 )
Schedule of Assets and Liabilities of Discontinued Operations [Table Text Block]	December 16, 2015 August 2 6 , 201 5 (In thousands) Prepaid expenses 3 10 Assets related to discontinued operations—current $ 3 $ 10 Property and equipment 1,874 1,873 Other assets 1,798 1,798 Assets related to discontinued operations—non-current $ 3,672 $ 3,671 Deferred income taxes $ 343 $ 343 Accrued expenses and other liabilities 95 65 Liabilities related to discontinued operations—current $ 438 $ 408 Other liabilities $ 17 $ 182 Liabilities related to discontinued operations—non-current $ 17 $ 182
Schedule of Discontinued Operations Income Statement [Table Text Block]	Quarter Ended December 16 , 201 5 November 19 , 201 4 ( 1 6 weeks) ( 12 weeks) (In thousands, except discontinued locations) Sales $ — $ — Pretax loss (118 ) (245 ) Income tax benefit from discontinued operations 46 106 Loss from discontinued operations $ (72 ) $ (139 ) Discontinued locations closed during the period — —
Discontinued Operations [Table Text Block]	Quarter Ended December 16 , 201 5 November 19, 2014 (1 6 weeks) (12 weeks) (In thousands, except per share data) Discontinued operating loss $ (118 ) $ (245 ) Impairments — — Net gains (losses) — — Pretax loss $ (118 ) (245 ) Income tax benefit from discontinued operations 46 106 Loss from discontinued operations $ (72 ) $ (139 ) Effect on EPS from discontinued operations—basic $ (0.00 ) $ (0.00 )

Note 9 - Related Parties (Table

Note 9 - Related Parties (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Quarter Ended December 16, 2015 November 19, (1 6 weeks) (12 weeks) (In thousands, except percentages) AFFILIATED COSTS INCURRED: General and administrative expenses—professional and other costs $ — $ — Capital expenditures — — Other operating expenses, occupancy costs and opening costs, including property leases 143 95 Total $ 143 $ 95 RELATIVE TOTAL COMPANY COSTS: Selling, general and administrative expenses $ 13,243 $ 9,151 Capital expenditures 5,729 3,589 Other operating expenses, occupancy costs and opening costs 25,460 20,086 Total $ 44,432 $ 32,826 AFFILIATED COSTS INCURRED AS A PERCENTAGE OF RELATIVE TOTAL COMPANY COSTS 0.32 % 0.29 %

Note 10 - Share-based Compens23

Note 10 - Share-based Compensation (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Shares Under Fixed Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (Per share) (Years) (In thousands) Outstanding at August 26, 2015 1,288,099 $ 4.76 6.5 $ 350 Granted 279,944 4.89 — — Exercised (19,750 ) 3.44 — — Cancelled (312,663 ) 4.98 — — Forfeited/Expired (25,541 ) 4.34 — — Outstanding at December 16, 2015 1,210,089 $ 4.76 7.3 $ 138 Exercisable at December 16, 2015 415,951 $ 4.93 3.5 $ 138
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	Restricted Stock Units Weighted Average Fair Value Weighted- Average Remaining Contractual Term (Per share) (In years) Unvested at August 26, 2015 409,417 $ 5.98 1.6 Granted 166,619 4.89 — Vested (197,482 ) 5.95 — Forfeited (4,202 ) 5.95 — Unvested at December 16, 2015 374,352 $ 5.51 2.4

Note 11 - Earnings Per Share (T

Note 11 - Earnings Per Share (Tables)	4 Months Ended
	Dec. 16, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarter Ended December 16, 2015 November 19, (1 6 weeks) (12 weeks) (In thousands, expect per share data) Numerator: Loss from continuing operations $ (1,739 ) $ (2,880 ) Loss from discontinued operations (72 ) (139 ) Net loss $ (1,811 ) $ (3,019 ) Denominator: Denominator for basic earnings per share—weighted-average shares 29,133 28,890 Effect of potentially dilutive securities: Employee and non-employee stock options — — Denominator for earnings per share assuming dilution 29,133 28,890 Loss per share from continuing operations: Basic $ (0.06 ) $ (0.10 ) Assuming dilution $ (0.06 ) $ (0.10 ) Loss per share from discontinued operations: Basic $ (0.00 ) $ (0.01 ) Assuming dilution $ (0.00 ) $ (0.01 ) Net loss per share: Basic $ (0.06 ) $ (0.11 ) Assuming dilution $ (0.06 ) $ (0.11 )

Note 3 - Reportable Segments (D

Note 3 - Reportable Segments (Details Textual) $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014USD ($)	Dec. 16, 2015USD ($)	Jan. 31, 2016	Aug. 26, 2015USD ($)
Company Owned Restaurants [Member] | Fuddruckers Trade Name Cheeseburger in Paradise Liquor Licenses and Jimmy Buffet Intangibles [Member]
Finite-Lived Intangible Assets, Gross		$ 10,400
Company Owned Restaurants [Member]
Number of Reportable Segments		1
Number of Restaurants		179		177
Vending Revenue	$ 125	$ 158
Culinary Contract Services [Member]
Number of Contracts		28		23
Franchise [Member] | Royalty Intangibles [Member]
Finite-Lived Intangible Assets, Gross		$ 12,000
Franchise [Member]
Number of Restaurants		110		106
Franchise Term		20 years
Subsequent Event [Member] | Licensee [Member]
Number of Restaurants			35
Number of Reportable Segments		3
Vending Revenue	$ 125	$ 158
Finite-Lived Intangible Assets, Gross		$ 30,023		$ 30,023

Note 3 - Segment Reporting Info

Note 3 - Segment Reporting Information (Details) - USD ($) $ in Thousands		3 Months Ended	4 Months Ended
		Nov. 19, 2014	Dec. 16, 2015
Operating Segments [Member] | Company Owned Restaurants [Member]
SALES:
Restaurant sales	[1]	$ 80,682	$ 113,704
Segment level profit:
Company-owned restaurants		9,351	16,783
Depreciation and amortization:
Depreciation and amortization		4,384	5,809
Capital expenditures:
Company-owned restaurants		3,169	5,494
Company-owned restaurants		9,351	16,783
Depreciation and amortization		(4,384)	(5,809)
Operating Segments [Member] | Culinary Contract Services [Member]
SALES:
Restaurant sales		4,598	4,915
Segment level profit:
Company-owned restaurants		499	493
Depreciation and amortization:
Depreciation and amortization		$ 69	$ 37
Capital expenditures:
Company-owned restaurants
Company-owned restaurants		$ 499	$ 493
Depreciation and amortization		(69)	(37)
Operating Segments [Member] | Franchise [Member]
SALES:
Restaurant sales		1,581	2,125
Segment level profit:
Company-owned restaurants		1,197	1,513
Depreciation and amortization:
Depreciation and amortization		$ 177	$ 256
Capital expenditures:
Company-owned restaurants
Company-owned restaurants		$ 1,197	$ 1,513
Depreciation and amortization		(177)	(256)
Operating Segments [Member]
SALES:
Restaurant sales		86,861	120,744
Segment level profit:
Company-owned restaurants		11,047	18,789
Depreciation and amortization:
Depreciation and amortization		5,068	7,014
Capital expenditures:
Company-owned restaurants		11,047	18,789
Opening costs		(925)	(397)
Depreciation and amortization		(5,068)	(7,014)
Selling, general and administrative expenses		(9,151)	(13,243)
Net gain (loss) on disposition of property and equipment		(290)	279
Interest income		1	1
Interest expense		(456)	(696)
Other expense (income), net		180	(118)
Loss before income taxes and discontinued operations		(4,662)	(2,399)
Corporate, Non-Segment [Member]
Depreciation and amortization:
Depreciation and amortization		438	912
Capital expenditures:
Company-owned restaurants		420	235
Depreciation and amortization		(438)	(912)
Restaurant sales		80,557	113,546
Company-owned restaurants		(4,387)	(1,586)
Depreciation and amortization		5,068	7,014
Company-owned restaurants		3,589	5,729
Company-owned restaurants		(4,387)	(1,586)
Opening costs		(925)	(397)
Depreciation and amortization		(5,068)	(7,014)
Selling, general and administrative expenses		(9,151)	(13,243)
Net gain (loss) on disposition of property and equipment		(290)	279
Interest income		1	1
Interest expense		(456)	(696)
Other expense (income), net		(180)	118
Loss before income taxes and discontinued operations		$ (4,662)	$ (2,399)
[1]	Includes vending revenue of $158 thousand and $125 thousand for the quarters ended December 16, 2015 and November 19, 2014, respectively.

Note 3 - Segment Assets (Detail

Note 3 - Segment Assets (Details) - USD ($) $ in Thousands		Dec. 16, 2015	Aug. 26, 2015
Operating Segments [Member] | Company Owned Restaurants [Member]
Total assets:
Assets	[1]	$ 217,834	$ 218,492
Operating Segments [Member] | Culinary Contract Services [Member]
Total assets:
Assets		2,229	1,644
Operating Segments [Member] | Franchise [Member]
Total assets:
Assets	[2]	12,555	13,034
Corporate, Non-Segment [Member]
Total assets:
Assets		29,994	31,088
Assets		$ 262,612	$ 264,258
[1]	Company-owned restaurants segment includes $10.4 million of Fuddruckers trade name, Cheeseburger in Paradise liquor licenses, and Jimmy Buffett intangibles.
[2]	Franchise operations segment includes approximately $12.0 million in royalty intangibles.

Note 4 - Non-recurring Fair Val

Note 4 - Non-recurring Fair Value Measurements Related to Impaired Property and Equipment (Details) - Company Owned Restaurants [Member] - USD ($) $ in Thousands	Dec. 16, 2015	Nov. 19, 2014
Continuing Operations [Member] | Fair Value, Inputs, Level 3 [Member]
Property and equipment related to company-owned restaurants	$ 5,282	$ 6,446
Continuing Operations [Member]
Property and equipment related to company-owned restaurants	5,282	6,446
Discontinued Operations [Member] | Fair Value, Inputs, Level 3 [Member]
Property and equipment related to company-owned restaurants	103
Discontinued Operations [Member]
Property and equipment related to company-owned restaurants	$ 103	$ 1,144

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual)	4 Months Ended
	Dec. 16, 2015USD ($)
Domestic Tax Authority [Member]
Income Taxes Paid, Net	$ 0

Note 6 - Property and Equipme30

Note 6 - Property and Equipment, Intangible Assets and Goodwill (Details Textual) $ in Thousands	Jan. 20, 2016	Nov. 19, 2014USD ($)	Dec. 16, 2015USD ($)	Aug. 26, 2015USD ($)	Aug. 27, 2014USD ($)
Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life			21 years
Franchise Rights [Member]
Finite-Lived Intangible Asset, Useful Life			21 years
Intangible Assets Related to Cheeseburger in Paradise [Member]
Finite-Lived Intangible Asset, Useful Life			15 years
Fuddruckers [Member]
Goodwill, Gross			$ 200
Cheeseburger in Paradise [Member]
Goodwill, Gross			2,000
Cheeseburger in Paradise [Member] | Subsequent Event [Member]
Number of Restaurants Acquired	23
Number of Restaurants	8
Number of Restaurants Closed for Conversion	8
Number of Restaurants Closed for Disposal	2
Number of Locations Subleased	2
Number of Restaurants Not Closed to be Converted	3
Cheeseburger in Paradise [Member]
Goodwill, Impairment Loss				$ 38	$ 500
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year			1,400
Finite-Lived Intangible Assets, Amortization Expense, Year Two			1,400
Finite-Lived Intangible Assets, Amortization Expense, Year Three			1,400
Finite-Lived Intangible Assets, Amortization Expense, Year Four			1,400
Goodwill			1,643	1,643
Goodwill, Impaired, Accumulated Impairment Loss			600	$ 600
Amortization of Intangible Assets		$ 300	500
Finite-Lived Intangible Assets, Amortization Expense, Year Five			$ 1,400

Note 6 - Property and Equipme31

Note 6 - Property and Equipment (Details) - USD ($) $ in Thousands	4 Months Ended
	Dec. 16, 2015	Aug. 26, 2015
Land [Member]
Land	$ 63,339	$ 63,298
Restaurant Equipment and Furnishings [Member] | Minimum [Member]
Restaurant equipment and furnishings	3000 years
Restaurant Equipment and Furnishings [Member] | Maximum [Member]
Restaurant equipment and furnishings	15000 years
Restaurant Equipment and Furnishings [Member]
Land	$ 89,587	85,679
Building [Member] | Minimum [Member]
Restaurant equipment and furnishings	20 years
Building [Member] | Maximum [Member]
Restaurant equipment and furnishings	33 years
Building [Member]
Land	$ 160,705	159,391
Leaseholds and Leasehold Improvements [Member]
Land	$ 29,739	29,229
Leasehold and leasehold improvements	Lesser of lease term or estimated useful life
Furniture and Fixtures [Member] | Minimum [Member]
Restaurant equipment and furnishings	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Restaurant equipment and furnishings	10 years
Furniture and Fixtures [Member]
Land	$ 3,727	3,559
Construction in Progress [Member]
Land	972	810
Land	$ 348,069	341,966
Restaurant equipment and furnishings	21 years
Less accumulated depreciation and amortization	$ (148,315)	(141,764)
Property, Plant and Equipment, Net	199,754	200,202
Intangible assets, net	22,089	22,570
Goodwill	$ 1,643	$ 1,643

Note 6 - Intangible Assets (Det

Note 6 - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 16, 2015	Aug. 26, 2015
Fuddruckers Trade Name and Franchise Agreement [Member]
Finite-Lived Intangible Assets, Gross	$ 29,607	$ 29,607
Accumulated Amortization	(7,633)	(7,166)
Net Carrying Amount	21,974	22,441
Cheeseburger in Paradise Trade Name and License Agreement [Member]
Finite-Lived Intangible Assets, Gross	416	416
Accumulated Amortization	(301)	(287)
Net Carrying Amount	115	129
Finite-Lived Intangible Assets, Gross	30,023	30,023
Accumulated Amortization	(7,934)	(7,453)
Net Carrying Amount	$ 22,089	$ 22,570

Note 7 - Impairment of Long-L33

Note 7 - Impairment of Long-Lived Assets, Discontinued Operations and Property Held for Sale (Details Textual)	Mar. 24, 2014	Nov. 19, 2014USD ($)	Nov. 18, 2009	Dec. 16, 2015USD ($)	Aug. 26, 2015USD ($)
Newer Properties [Member] | Minimum [Member]
Time Span For Future Cash Flow				20 years
Newer Properties [Member] | Maximum [Member]
Time Span For Future Cash Flow				25 years
Older Properties [Member] | Minimum [Member]
Time Span For Future Cash Flow				5 years
Older Properties [Member] | Maximum [Member]
Time Span For Future Cash Flow				10 years
Minimum [Member] | Cheeseburger in Paradise [Member] | Discontinued Operations [Member]
Number of Restaurants Closed for Disposal				3
Minimum [Member] | Cheeseburger in Paradise [Member]
Number of Restaurants Closed for Disposal	5
Minimum [Member]
Expected Disposal Period				1 year
Maximum [Member]
Expected Disposal Period				3 years
Cheeseburger in Paradise [Member]
Number of Restaurants Subject to Impairment				1
Discontinued Operations [Member] | Luby's Cafeteria [Member] | Held for Sale [Member]
Number of Restaurants			1
Discontinued Operations [Member] | Luby's Cafeteria [Member]
Disposal Group Including Discontinued Operation Assets of Disposal Group Number			24
Discontinued Operations [Member] | Company Owned Restaurants [Member]
Property, Plant and Equipment, Net				$ 1,900,000
Discontinued Operations [Member]
Number of Restaurants				4
Impairment of Leasehold				$ 0
Company Owned Restaurants [Member]
Number of Restaurants				179	177
Impairment of Long-Lived Assets Held-for-use		$ 0		$ 0
Disposal Group Including Discontinued Operation Assets of Disposal Group Number				3	4
Property, Plant and Equipment, Net				$ 199,754,000	$ 200,202,000
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current				$ 3,100,000	$ 4,500,000

Note 7 - Impairment Charges to

Note 7 - Impairment Charges to Income from Operations (Details) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014	Dec. 16, 2015
Provision for asset impairments
Net (gain) loss on disposition of property and equipment	$ 290	$ (279)
Total	$ 290	$ (279)
Effect on EPS:
Basic (in dollars per share)	$ (0.01)	$ 0.01
Assuming dilution (in dollars per share)	$ (0.01)	$ 0.01

Note 7 - Assets and Liabilities

Note 7 - Assets and Liabilities for All Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 16, 2015	Aug. 26, 2015
Discontinued Operations [Member]
Prepaid expenses	$ 3	$ 10
Assets related to discontinued operations—current	3	10
Property and equipment	1,874	1,873
Other assets	1,798	1,798
Assets related to discontinued operations—non-current	3,672	3,671
Deferred income taxes	343	343
Accrued expenses and other liabilities	95	65
Liabilities related to discontinued operations—current	438	408
Other liabilities	17	182
Liabilities related to discontinued operations—non-current	17	182
Assets related to discontinued operations—current	3	10
Assets related to discontinued operations—non-current	3,672	3,671
Liabilities related to discontinued operations—current	438	408
Liabilities related to discontinued operations—non-current	$ 17	$ 182

Note 7 - Sales and Pretax Incom

Note 7 - Sales and Pretax Income (Losses) Reported for Discontinued Operations (Details) $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014USD ($)	Dec. 16, 2015USD ($)
Sales
Pretax loss	$ (245)	$ (118)
Income tax benefit from discontinued operations	106	46
Loss from discontinued operations, net of income taxes	$ (139)	$ (72)
Discontinued locations closed during the period	0	0

Note 7 - Discontinued Operation

Note 7 - Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014	Dec. 16, 2015
Discontinued operating loss	$ (245)	$ (118)
Impairments
Net gains (losses)
Pretax loss	$ (245)	$ (118)
Income tax benefit from discontinued operations	106	46
Loss from discontinued operations	$ (139)	$ (72)
Basic (in dollars per share)	$ (0.01)	$ 0

Note 8 - Commitments and Cont38

Note 8 - Commitments and Contingencies (Details Textual)	Dec. 16, 2015
Number of Non-cancelable Contracts	3

Note 9 - Related Parties (Detai

Note 9 - Related Parties (Details Textual)	Nov. 22, 2006	Nov. 19, 2014USD ($)	May. 07, 2014$ / item	Dec. 16, 2015USD ($)	Dec. 16, 2015$ / ft²
New Lease Agreement [Member]
Lessee Leasing Arrangements, Operating Leases, Renewal Term			5 years
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest			50.00%
Percent of Space Rented				7.00%
Lessee Leasing Arrangements, Operating Leases, Term of Contract			6 years
Option to Extend Lease Years			2
Lease Annual Rent Payments Per Square Foot | $ / item			27.56
Operating Leases, Rent Expense		$ 27,000		$ 40,000
Amended And Restated Master Sales Agreement [Member] | Pappas Entities [Member]
Related Party Transaction, Amounts of Transaction		0		0
Lease Agreement Executed in 2006 [Member]
Lessee Leasing Arrangements, Operating Leases, Renewal Term	5 years
Lessee Leasing Arrangements, Operating Leases, Term of Contract	12 years
Option to Extend Lease Years	2
Lease Annual Rent Payments Per Square Foot | $ / ft²					22
Operating Leases, Rent Expense		$ 68,000		$ 103,000
Pappas Entities [Member]
Number of Related Party Entities				2	2

Note 9 - Affiliated Rents Paid

Note 9 - Affiliated Rents Paid for Restaurant Property Lease (Details) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014	Dec. 16, 2015
Affiliated Cost Incurred [Member]
Capital expenditures
Other operating expenses, occupancy costs and opening costs, including property leases	$ 95	$ 143
Total	95	143
Relative Company Cost [Member]
Capital expenditures	3,589	5,729
Other operating expenses, occupancy costs and opening costs, including property leases	20,086	25,460
Total	32,826	44,432
Selling, general and administrative expenses	9,151	13,243
Selling, general and administrative expenses	$ 9,151	$ 13,243
AFFILIATED COSTS INCURRED AS A PERCENTAGE OF RELATIVE TOTAL COMPANY COSTS	0.29%	0.32%

Note 10 - Share-based Compens41

Note 10 - Share-based Compensation (Details Textual)	3 Months Ended	4 Months Ended	8 Months Ended	16 Months Ended
	Nov. 19, 2014USD ($)	Dec. 16, 2015USD ($)$ / sharesshares	May. 06, 2015	Dec. 16, 2015USD ($)shares	Aug. 26, 2015shares
Non Employee Directors Stock Plan [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense | $	$ 167,000	$ 197,000
Non Employee Directors Stock Plan [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			100.00%
Non Employee Directors Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		0		0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		1,100,000		1,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		900,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		100,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		300,000		300,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Restricted Stock and Unit Awards Granted to Named Executive Officers Percentage		20.00%
Employee Stock Plan [Member] | Selling, General and Administrative Expenses [Member] | Accelerated Share-based Compensation [Member]
Allocated Share-based Compensation Expense | $		$ 252,000
Employee Stock Plan [Member] | Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense | $	$ 154,000	$ 455,000
Employee Stock Plan [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		50.00%
Employee Stock Plan [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Employee Stock Plan [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%
Employee Stock Plan [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Employee Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		1,210,089		1,210,089
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		2,600,000		2,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period				5,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period				3,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		300,000		300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Cancelled in Period		312,663
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ / shares		$ 3.44
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ / shares		$ 11.10
Selling, General and Administrative Expenses [Member] | Performance Shares [Member]
Allocated Share-based Compensation Expense | $		$ 74,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum		0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum		200.00%
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $		$ 500,000		$ 500,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $		$ 2,500,000		$ 2,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		279,944
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		1,210,089		1,210,089	1,288,099
Number of Stock Plans		2		2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Cancelled in Period		312,663
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 146 days

Note 10 - Stock Option Activity

Note 10 - Stock Option Activity (Details) - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Dec. 16, 2015	Aug. 26, 2015
Outstanding at (in shares)	1,288,099
Outstanding at (in dollars per share)	$ 4.76
Outstanding at	7 years 109 days	6 years 182 days
Outstanding at	$ 350
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	279,944
Granted (in dollars per share)	$ 4.89
Exercised (in shares)	(19,750)
Exercised (in dollars per share)	$ 3.44
Cancelled (in shares)	(312,663)
Cancelled (in dollars per share)	$ 4.98
Forfeited/Expired (in shares)	(25,541)
Forfeited/Expired (in dollars per share)	$ 4.34
Outstanding at (in shares)	1,210,089	1,288,099
Outstanding at (in dollars per share)	$ 4.76	$ 4.76
Outstanding at	$ 138	$ 350
Exercisable at December 16, 2015 (in shares)	415,951
Exercisable at December 16, 2015 (in dollars per share)	$ 4.93
Exercisable at December 16, 2015	3 years 182 days
Exercisable at December 16, 2015	$ 138

Note 10 - Restricted Stock Unit

Note 10 - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	4 Months Ended	12 Months Ended
	Dec. 16, 2015	Aug. 26, 2015
Unvested at (in shares)	409,417
Unvested at (in dollars per share)	$ 5.98
Unvested at	2 years 146 days	1 year 219 days
Granted (in shares)	166,619
Granted (in dollars per share)	$ 4.89
Vested (in shares)	(197,482)
Vested (in dollars per share)	$ 5.95
Forfeited (in shares)	(4,202)
Forfeited (in dollars per share)	$ 5.95
Unvested at (in shares)	374,352	409,417
Unvested at (in dollars per share)	$ 5.51	$ 5.98

Note 11 - Earnings Per Share (D

Note 11 - Earnings Per Share (Details Textual)	4 Months Ended
	Dec. 16, 2015shares
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,050,089
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	88,000

Note 11 - Components of Basic a

Note 11 - Components of Basic and Diluted Net Income per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	4 Months Ended
	Nov. 19, 2014	Dec. 16, 2015
Numerator:
Loss from continuing operations	$ (2,880)	$ (1,739)
Loss from discontinued operations, net of income taxes	(139)	(72)
Net loss	$ (3,019)	$ (1,811)
Denominator:
Basic (in shares)	28,890	29,133
Effect of potentially dilutive securities:
Employee and non-employee stock options (in shares)
Assuming dilution (in shares)	28,890	29,133
Basic (in dollars per share)	$ (0.10)	$ (0.06)
Assuming dilution (in dollars per share)	(0.10)	(0.06)
Basic (in dollars per share)	(0.01)	0
Assuming dilution (in dollars per share)	(0.01)	0
Basic (in dollars per share)	(0.11)	(0.06)
Assuming dilution (in dollars per share)	$ (0.11)	$ (0.06)