Panera Bread (PNRA) 10-Q 29 Apr 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information Document	3 Months Ended
	Mar. 31, 2015	Apr. 28, 2015
Document Information [Line Items]
Entity Registrant Name	Panera Bread Company
Entity Central Index Key	724606
Current Fiscal Year End Date	-17
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		25,320,196
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,381,730

Consolidated_Balance_Sheets_un

Consolidated Balance Sheets (unaudited) (USD $)	Mar. 31, 2015	Dec. 30, 2014
Current assets:
Cash and cash equivalents	$201,531,000	$196,493,000
Trade accounts receivable, net	36,085,000	36,584,000
Other accounts receivable	15,977,000	70,069,000
Inventories	19,744,000	22,811,000
Prepaid expenses and other	52,755,000	51,588,000
Deferred income taxes	32,372,000	28,621,000
Assets held for sale	53,749,000	0
Total current assets	412,213,000	406,166,000
Property and equipment, net	733,820,000	787,294,000
Other assets:
Goodwill	120,778,000	120,778,000
Other intangible assets, net	68,755,000	70,940,000
Deposits and other	5,564,000	5,724,000
Total other assets	195,097,000	197,442,000
Total assets	1,341,130,000	1,390,902,000
Current liabilities:
Accounts payable	19,238,000	19,511,000
Accrued expenses	305,912,000	333,201,000
Liabilities associated with assets held for sale	8,063,000	0
Total current liabilities	333,213,000	352,712,000
Unsecured Long-term Debt, Noncurrent	100,000,000	100,000,000
Deferred rent	61,594,000	67,390,000
Deferred income taxes	47,961,000	76,589,000
Other long-term liabilities	51,635,000	58,027,000
Total liabilities	594,403,000	654,718,000
Commitments and Contingencies (Note 8)
Common stock, $.0001 par value per share:
Treasury stock, carried at cost	-731,212,000	-706,073,000
Preferred Stock, $.0001 par value per share	0	0
Additional paid-in capital	219,284,000	214,437,000
Accumulated other comprehensive loss	-2,385,000	-1,360,000
Retained earnings	1,261,037,000	1,229,177,000
Total stockholders' equity	746,727,000	736,184,000
Total liabilities and stockholders' equity	1,341,130,000	1,390,902,000
Common Stock Class A [Member]
Common stock, $.0001 par value per share:
Common stock	3,000	3,000
Common Stock Class B [Member]
Common stock, $.0001 par value per share:
Common stock	$0	$0

Consolidated_Balance_Sheets_Ba

Consolidated Balance Sheets Balance Sheet Parenthetical (USD $)	Mar. 31, 2015	Dec. 30, 2014
Capital Unit [Line Items]
Treasury Stock, Shares	5,417,010	5,260,744
Common Class A [Member]
Capital Unit [Line Items]
Common Stock, Shares Authorized	112,500,000	112,500,000
Common Stock, Shares, Issued	30,729,853	30,703,472
Common Stock, Par or Stated Value Per Share	0.0001	0.0001
Common Stock, Shares, Outstanding	25,312,843	25,442,728
Common Class B [Member]
Capital Unit [Line Items]
Common Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Shares, Issued	1,381,730	1,381,865
Common Stock, Par or Stated Value Per Share	0.0001	0.0001
Common Stock, Shares, Outstanding	1,381,730	1,381,865
Preferred Stock [Member]
Capital Unit [Line Items]
Preferred Stock, Par or Stated Value Per Share	0.0001	0.0001
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (unaudited) (USD $)	3 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Apr. 01, 2014
Revenues:
Total revenues	$648,504,000	$605,337,000
Bakery-cafe expenses:
Cost of food and paper products	173,657,000	158,894,000
Labor	181,537,000	162,463,000
Occupancy	42,856,000	39,251,000
Other operating expenses	80,737,000	75,817,000
Total bakery-cafe expenses	478,787,000	436,425,000
Fresh dough and other product cost of sales to franchisees	36,266,000	35,634,000
Depreciation and amortization	33,947,000	29,442,000
General and administrative expenses	37,767,000	35,007,000
Pre-opening expenses	1,649,000	1,824,000
Refranchising loss	8,891,000	0
Total costs and expenses	597,307,000	538,332,000
Operating profit	51,197,000	67,005,000
Interest expense	486,000	623,000
Other (income) expense, net	-184,000	-1,212,000
Income before income taxes	50,895,000	67,594,000
Income taxes	19,035,000	25,199,000
Net income	31,860,000	42,395,000
Earnings Per Common Share
Basic (in dollars per share)	$1.20	$1.55
Diluted (in dollars per share)	$1.20	$1.55
Weighted average shares of common and common equivalent shares outstanding:
Weighted average number of shares outstanding - basic (in shares)	26,478	27,269
Weighted average number of shares outstanding - diluted (in shares)	26,569	27,405
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustment	-1,025,000	-394,000
Other comprehensive loss	-1,025,000	-394,000
Comprehensive Income	30,835,000	42,001,000
Operating Segments [Member]
Bakery-cafe expenses:
Depreciation and amortization	33,947,000
Company Bakery Cafe Operations [Member]
Revenues:
Total revenues	573,676,000	535,549,000
Franchise Operations [Member]
Revenues:
Total revenues	32,393,000	28,892,000
Fresh dough and other product sales to franchisees [Member]
Revenues:
Total revenues	$42,435,000	$40,896,000

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Apr. 01, 2014
Cash flows from operations:
Net income	$31,860,000	$42,395,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	33,947,000	29,442,000
Stock-based compensation expense	4,046,000	3,139,000
Tax benefit from stock-based compensation	-28,000	-351,000
Deferred income taxes	-32,379,000	-16,325,000
Refranchising loss	8,891,000	0
Other	458,000	297,000
Changes in operating assets and liabilities, excluding the effect of acquisitions and dispositions:
Trade and other accounts receivable, net	54,290,000	37,414,000
Inventories	1,676,000	2,688,000
Prepaid expenses and other	-1,167,000	3,479,000
Deposits and other	160,000	-94,000
Accounts payable	-273,000	9,632,000
Accrued expenses	-25,059,000	-39,096,000
Deferred rent	772,000	-2,496,000
Other long-term liabilities	-5,176,000	-5,679,000
Net cash provided by operating activities	72,018,000	64,445,000
Cash flows from investing activities:
Additions to property and equipment	-49,574,000	-42,301,000
Proceeds from refranchising	3,218,000	0
Proceeds from sale-leaseback transactions	2,161,000	2,709,000
Proceeds from sale of property and equipment	1,553,000	0
Net cash used in investing activities	-42,642,000	-39,592,000
Cash flows from financing activities:
Repurchase of common stock	-25,139,000	-50,300,000
Exercise of employee stock options	0	190,000
Tax benefit from stock-based compensation	28,000	351,000
Proceeds from issuance of common stock under employee benefit plans	773,000	748,000
Net cash used in financing activities	-24,338,000	-49,011,000
Net increase (decrease) in cash and cash equivalents	5,038,000	-24,158,000
Cash and cash equivalents at beginning of period	196,493,000	125,245,000
Cash and cash equivalents at end of period	$201,531,000	$101,087,000

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies
	Basis of Presentation and Principles of Consolidation
	The unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q, which consist of the accounts of Panera Bread Company and its wholly owned direct and indirect subsidiaries (collectively, the “Company”), have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), under the rules and regulations of the United States Securities and Exchange Commission (the “SEC”), and on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the fiscal year ended December 30, 2014 (“fiscal 2014”). These unaudited consolidated financial statements should be read in conjunction with such audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 30, 2014, as filed with the SEC on February 20, 2015. All intercompany balances and transactions have been eliminated in consolidation. The Consolidated Balance Sheet data as of December 30, 2014 was derived from audited financial statements, but does not include all disclosures required by GAAP contained herein.
	The unaudited consolidated financial statements include all adjustments (consisting of normal recurring adjustments and accruals) that management considers necessary for a fair statement of the Company's financial position and comprehensive income for the interim periods presented. Interim results are not necessarily indicative of the results for any other interim period or for the entire fiscal year.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360)”. This update was issued to clarify the reporting for discontinued operations and disclosures for disposals of components of an entity. This update is effective for annual and interim periods beginning after December 15, 2014. The adoption of this update did not have a material effect on the Company’s consolidated financial statements or related disclosures; however, it may impact the reporting of future discontinued operations if and when they occur.
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. This update is effective for annual and interim periods beginning after December 15, 2016, which will require the Company to adopt these provisions in the first quarter of fiscal 2017. Early application is not permitted. This update permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect this guidance will have on the Company's consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. This update requires management of the Company to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern. This update is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the effect of the standard but its adoption is not expected to have an impact on the Company’s consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”. This update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying value of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. The update is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements.

Business_Combinations_and_Dive

Business Combinations and Divestitures	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Business Combinations and Divestitures	Divestitures
	Refranchising Initiative
	In February 2015, the Company announced a plan to refranchise approximately 50 to 150 Company-owned bakery-cafes by December 29, 2015, the end of fiscal 2015. As of March 31, 2015, the Company classified as held for sale the assets and certain liabilities of 73 Company-owned bakery-cafes the Company expects to sell during the next 12 months. During the thirteen weeks ended March 31, 2015, the Company recorded a loss on assets held for sale of $7.6 million.  The Company classifies assets as held for sale and ceases depreciation of the assets when those assets meet the held for sale criteria, as defined in GAAP. The Company also recognized impairment losses of $3.8 million during the thirteen weeks ended March 31, 2015 related to certain under-performing bakery-cafes in one of the markets for which the Company has signed letters of intent, which have been excluded from the proposed sale. The following summarizes the financial statement carrying amounts of assets and liabilities associated with the bakery-cafes classified as held for sale as of March 31, 2015 (in thousands):
		31-Mar-15
	Inventories	$	1,391
	Property and equipment, net	52,358
	Assets held for sale	$	53,749
	Deferred rent	$	6,756
	Asset retirement obligation	1,307
	Liabilities associated with assets held for sale	$	8,063
	Assets held for sale were valued using Level 3 inputs, representing information obtained from signed letters of intent.  Costs to sell are considered in the estimates of fair value for those assets included in Assets held for sale on our Consolidated Balance Sheets.
	On March 3, 2015, the Company sold substantially all of the assets of one bakery-cafe to an existing franchisee for cash proceeds of approximately $3.2 million, which resulted in a gain on sale of approximately $2.5 million.
	The aforementioned loss on assets held for sale, impairment charges and gain on sale have been aggregated in a single caption entitled “Refranchising loss” in the Consolidated Statements of Comprehensive Income for the thirteen weeks ended March 31, 2015.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements
	The Company’s cash equivalents of $94.5 million and $92.3 million at March 31, 2015 and December 30, 2014, respectively, were carried at fair value in the Consolidated Balance Sheets based on quoted market prices for identical securities (Level 1 inputs).

Inventories

Inventories	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories consisted of the following (in thousands):
		March 31, 2015		December 30, 2014
	Food:
	Fresh dough facilities:
	Raw materials	$	3,127	$	3,413
	Finished goods	543		460
	Bakery-cafes:
	Raw materials	12,956		15,152
	Paper goods	3,118		3,786
	Total	$	19,744	$	22,811

Accrued_Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accrued expenses	Accrued Expenses
	Accrued expenses consisted of the following (in thousands):
		March 31, 2015		December 30, 2014
	Unredeemed gift cards, net	$	84,629	$	105,576
	Capital expenditures	54,757		56,808
	Insurance	34,905		32,559
	Compensation and related employment taxes	33,608		59,442
	Advertising	21,530		10,147
	Taxes, other than income taxes	20,641		21,068
	Income taxes payable	9,768		—
	Fresh dough and other product operations	9,365		6,812
	Occupancy costs	6,873		7,263
	Utilities	5,766		5,527
	Deferred revenue	4,984		5,291
	Loyalty program	2,644		2,525
	Other	16,442		20,183
	Total	$	305,912	$	333,201

Term_Loan

Term Loan	3 Months Ended
	Mar. 31, 2015
Debt Instruments [Abstract]
Debt Disclosure [Text Block]	Debt
	On June 11, 2014, the Company entered into a term loan agreement (the “Term Loan Agreement”), by and among the Company, as borrower, Bank of America, N.A., as administrative agent, and other lenders party thereto. The Term Loan Agreement provides for an unsecured term loan (the "Term Loan") in the amount of $100 million that is scheduled to mature on June 11, 2019, subject to acceleration upon certain specified events of defaults, including breaches of representations or covenants, failure to pay other material indebtedness or a change of control of the Company, as defined in the Term Loan Agreement. The Term Loan bears interest at a rate equal to, at the Company's option, (1) LIBOR plus a margin ranging from 1.00 percent to 1.50 percent depending on the Company’s consolidated leverage ratio or (2) the highest of (a) the Bank of America prime rate, (b) the Federal funds rate plus 0.50 percent or (c) LIBOR plus 1.00 percent, plus a margin ranging from 0.00 percent to 0.50 percent depending on the Company’s consolidated leverage ratio. The Company incurred debt issuance costs of $0.2 million in connection with the issuance of the Term Loan. The debt issuance costs are being amortized to expense over the term of the Term Loan. The weighted-average interest rate of the Term Loan, excluding the amortization of debt issuance costs, was 1.17 percent for the thirteen weeks ended March 31, 2015. As of March 31, 2015, the carrying amount of the Term Loan approximates fair value as the interest rate on the Term Loan approximates current market rates (Level 2 inputs).
	On November 30, 2012, the Company entered into a credit agreement (the "Credit Agreement") with Bank of America, N.A. and other lenders party thereto. The Credit Agreement provides for an unsecured revolving credit facility of $250 million that will become due on November 30, 2017. As of March 31, 2015 and December 30, 2014, the Company had no loans outstanding under the Credit Agreement.
	Both the Term Loan Agreement and the Credit Agreement contain customary affirmative and negative covenants, including covenants limiting liens, dispositions, fundamental changes, investments, indebtedness, and certain transactions and payments. In addition, the Term Loan Agreement and the Credit Agreement contain various financial covenants that, among other things, require the Company to satisfy two financial covenants at the end of each fiscal quarter: (1) a consolidated leverage ratio less than or equal to 3.00 to 1.00, and (2) a consolidated fixed charge coverage ratio of greater than or equal to 2.00 to 1.00. As of March 31, 2015, the Company was in compliance with all covenant requirements in the Term Loan Agreement and the Credit Agreement.

Share_Repurchase_Authorization

Share Repurchase Authorization Share Repurchase Authorization (Notes)	3 Months Ended
	Mar. 31, 2015
Repurchase of Equity [Abstract]
Treasury Stock [Text Block]	Share Repurchase Authorization
	On June 5, 2014, the Company's Board of Directors approved a three year share repurchase authorization of up to $600 million of the Company's Class A common stock (the "2014 repurchase authorization"), pursuant to which the Company may repurchase shares from time to time on the open market or in privately negotiated transactions and which may be made under a Rule 10b5-1 plan. Repurchased shares may be retired immediately and resume the status of authorized but unissued shares or may be held by the Company as treasury stock. The 2014 repurchase authorization may be modified, suspended, or discontinued by the Company's Board of Directors at any time. During the thirteen weeks ended March 31, 2015, we repurchased 155,401 shares under the 2014 repurchase authorization, at an average price of $160.84 per share, for an aggregate purchase price of approximately $25.0 million. As of March 31, 2015, the Company has repurchased a total of 582,922 shares of our Class A common stock under this repurchase program, at a weighted-average price of $157.13 per share, for an aggregate purchase price of approximately $91.6 million. There was approximately $508.4 million available under the 2014 repurchase authorization as of March 31, 2015. On April 15, 2015, the Company's Board of Directors approved an increase of the 2014 repurchase authorization to $750 million.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Lease Obligations
	As of March 31, 2015, the Company has guaranteed the operating leases of 18 franchisee or affiliate locations, which the Company accounted for in accordance with the accounting requirements for guarantees. These guarantees are primarily a result of the Company's sales of Company-owned bakery-cafes to franchisees and affiliates, pursuant to which the Company exercised its right to assign the lease or sublease for the bakery-cafe but remain liable to the landlord for the remaining lease term in the event of a default by the assignee. These leases have terms expiring on various dates from April 30, 2015 to September 30, 2027 and potential future rental payments of approximately $15.9 million as of March 31, 2015. The obligations from these leases will decrease over time as these operating leases expire. The Company has not recorded a liability for certain of these guarantees as they arose prior to the implementation of the accounting requirements for guarantees and, unless modified, are exempt from its requirements. The Company has not recorded a liability for those guarantees issued after the effective date of the accounting requirements because the fair value of these lease guarantees was determined by the Company to be insignificant individually, and in the aggregate, based on an analysis of the facts and circumstances of each such lease and each such assignee's performance, and the Company did not believe it was probable that it would be required to perform under any guarantees at the time the guarantees were issued. The Company has not had to make any payments related to any of these guaranteed leases. Applicable assignees continue to have primary liability for these operating leases.
	Legal Proceedings
	On July 2, 2014, a purported class action lawsuit was filed against one of the Company's subsidiaries by Jason Lofstedt, a former employee of one of the Company's subsidiaries. The lawsuit was filed in the California Superior Court, County of Riverside. The complaint alleges, among other things, violations of the California Labor Code, failure to pay overtime, failure to provide meal and rest periods, and violations of California's Unfair Competition Law. The complaint seeks, among other relief, collective and class certification of the lawsuit, unspecified damages, costs and expenses, including attorneys’ fees, and such other relief as the Court might find just and proper. The Company believes its subsidiary has meritorious defenses to each of the claims in the lawsuit and is prepared to vigorously defend the lawsuit. There can be no assurance, however, that the Company's subsidiary will be successful, and an adverse resolution of the lawsuit could have a material adverse effect on the Company's consolidated financial position and results of operations in the period in which the lawsuit is resolved. The Company is not presently able to reasonably estimate potential losses, if any, related to the lawsuit.
	In addition to the legal matter described above, the Company is subject to various legal proceedings, claims, and litigation that arise in the ordinary course of its business. Defending lawsuits requires significant management attention and financial resources and the outcome of any litigation, including the matter described above, is inherently uncertain. The Company does not believe the ultimate resolution of these actions will have a material adverse effect on the Company's consolidated financial position and results of operations. However, a significant increase in the number of these claims, or one or more successful claims under which the Company incurs greater liabilities than is currently anticipated, could materially and adversely affect its consolidated financial statements.
	Other
	The Company is subject to ongoing federal and state income tax audits and sales and use tax audits. The Company does not believe the ultimate resolution of these actions will have a material adverse effect on its consolidated financial statements. However, a significant increase in the number of these audits, or one or more audits under which the Company incurs greater liabilities than is currently anticipated, could materially and adversely affect the Company's consolidated financial position and results of operations. The Company believes reserves for these matters are adequately provided for in its consolidated financial statements.

Business_Segment_Information

Business Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information
	The Company operates three business segments. The Company Bakery-Cafe Operations segment is comprised of the operating activities of the bakery-cafes owned directly and indirectly by the Company. The Company-owned bakery-cafes conduct business under the Panera Bread®, Saint Louis Bread Co.® or Paradise Bakery & Café® names. These bakery-cafes offer some or all of the following: fresh baked goods, made-to-order sandwiches on freshly baked breads, soups, salads, pasta dishes, custom roasted coffees, and other complementary products through on-premise sales, as well as catering.
	The Franchise Operations segment is comprised of the operating activities of the franchise business unit, which licenses qualified operators to conduct business under the Panera Bread or Paradise Bakery & Cafe names and also monitors the operations of these bakery-cafes. Under the terms of most of the agreements, the licensed operators pay royalties and fees to the Company in return for the use of the Panera Bread or Paradise Bakery & Cafe names.
	The Fresh Dough and Other Product Operations segment supplies fresh dough, produce, tuna, and cream cheese, and indirectly supplies proprietary sweet goods items through a contract manufacturing arrangement, to Company-owned and franchise-operated bakery-cafes. The fresh dough is sold to a number of both Company-owned and franchise-operated bakery-cafes at a delivered cost generally not to exceed 27 percent of the retail value of the end product. The sales and related costs to the franchise-operated bakery-cafes are separately stated line items in the Consolidated Statements of Comprehensive Income. The sales, costs, and operating profit related to the sales to Company-owned bakery-cafes are eliminated in consolidation in the Consolidated Statements of Comprehensive Income.
	Segment information related to the Company’s three business segments is as follows (in thousands):
		For the 13 Weeks Ended
		March 31,			April 1,
		2015			2014
	Revenues:
	Company bakery-cafe operations	$	573,676		$	535,549
	Franchise operations	32,393			28,892
	Fresh dough and other product operations	90,124			86,525
	Intercompany sales eliminations	(47,689		)	(45,629		)
	Total revenues	$	648,504		$	605,337
	Segment profit:
	Company bakery-cafe operations	$	85,998		$	99,124
	Franchise operations	31,079			27,457
	Fresh dough and other product operations	6,169			5,262
	Total segment profit	$	123,246		$	131,843
	Depreciation and amortization	$	33,947		$	29,442
	Unallocated general and administrative expenses	36,453			33,572
	Pre-opening expenses	1,649			1,824
	Interest expense	486			623
	Other (income) expense, net	(184		)	(1,212		)
	Income before income taxes	$	50,895		$	67,594
	Depreciation and amortization:
	Company bakery-cafe operations	$	27,335		$	24,783
	Fresh dough and other product operations	2,309			2,057
	Corporate administration	4,303			2,602
	Total depreciation and amortization	$	33,947		$	29,442
	Capital expenditures:
	Company bakery-cafe operations	$	35,518		$	30,284
	Fresh dough and other product operations	994			2,830
	Corporate administration	13,062			9,187
	Total capital expenditures	$	49,574		$	42,301
		March 31,			December 30,
		2015			2014
	Segment assets:
	Company bakery-cafe operations	$	925,244		$	953,896
	Franchise operations	9,966			13,145
	Fresh dough and other product operations	67,029			65,219
	Total segment assets	$	1,002,239		$	1,032,260
	Unallocated cash and cash equivalents	$	201,531		$	196,493
	Unallocated trade and other accounts receivable	2,129			3,104
	Unallocated property and equipment	90,431			84,224
	Unallocated deposits and other	3,657			3,791
	Other unallocated assets	41,143			71,030
	Total assets	$	1,341,130		$	1,390,902
	“Unallocated cash and cash equivalents” relates primarily to corporate cash and cash equivalents, “unallocated trade and other accounts receivable” relates primarily to rebates and interest receivable, “unallocated property and equipment” relates primarily to corporate fixed assets, “unallocated deposits and other” relates primarily to insurance deposits, and “other unallocated assets” relates primarily to current and deferred income taxes.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share
	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data):
		For the 13 Weeks Ended
		March 31,		April 1,
		2015		2014
	Amounts used for basic and diluted per share calculations:
	Net income	$	31,860	$	42,395
	Weighted average number of shares outstanding — basic	26,478		27,269
	Effect of dilutive stock-based employee compensation awards	91		136
	Weighted average number of shares outstanding — diluted	26,569		27,405
	Earnings per common share:
	Basic	$	1.2	$	1.55
	Diluted	$	1.2	$	1.55
	For the thirteen weeks ended March 31, 2015 and April 1, 2014, weighted-average outstanding stock options, restricted stock, and stock-settled appreciation rights of less than 0.1 million shares, respectively, were excluded in calculating diluted earnings per share as the exercise price exceeded fair market value and the inclusion of such shares would have been antidilutive.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360)”. This update was issued to clarify the reporting for discontinued operations and disclosures for disposals of components of an entity. This update is effective for annual and interim periods beginning after December 15, 2014. The adoption of this update did not have a material effect on the Company’s consolidated financial statements or related disclosures; however, it may impact the reporting of future discontinued operations if and when they occur.
	In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. This update is effective for annual and interim periods beginning after December 15, 2016, which will require the Company to adopt these provisions in the first quarter of fiscal 2017. Early application is not permitted. This update permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect this guidance will have on the Company's consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. This update requires management of the Company to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern. This update is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the effect of the standard but its adoption is not expected to have an impact on the Company’s consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”. This update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying value of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. The update is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements.

Business_Combination_Business_

Business Combination Business Combinations and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2015
Assets and Liabilities Associated with Assets Held for Sale [Abstract]
Assets and Liabilities associated with Assets Held for Sale [Table Text Block]
		31-Mar-15
	Inventories	$	1,391
	Property and equipment, net	52,358
	Assets held for sale	$	53,749
	Deferred rent	$	6,756
	Asset retirement obligation	1,307
	Liabilities associated with assets held for sale	$	8,063

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory Disclosure [Abstract]
Inventories
		March 31, 2015		December 30, 2014
	Food:
	Fresh dough facilities:
	Raw materials	$	3,127	$	3,413
	Finished goods	543		460
	Bakery-cafes:
	Raw materials	12,956		15,152
	Paper goods	3,118		3,786
	Total	$	19,744	$	22,811

Accrued_Expenses_Tables

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses
		March 31, 2015		December 30, 2014
	Unredeemed gift cards, net	$	84,629	$	105,576
	Capital expenditures	54,757		56,808
	Insurance	34,905		32,559
	Compensation and related employment taxes	33,608		59,442
	Advertising	21,530		10,147
	Taxes, other than income taxes	20,641		21,068
	Income taxes payable	9,768		—
	Fresh dough and other product operations	9,365		6,812
	Occupancy costs	6,873		7,263
	Utilities	5,766		5,527
	Deferred revenue	4,984		5,291
	Loyalty program	2,644		2,525
	Other	16,442		20,183
	Total	$	305,912	$	333,201

Business_Segment_Information_T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Business Segment Information	nformation related to the Company’s three business segments is as follows (in thousands):
		For the 13 Weeks Ended
		March 31,			April 1,
		2015			2014
	Revenues:
	Company bakery-cafe operations	$	573,676		$	535,549
	Franchise operations	32,393			28,892
	Fresh dough and other product operations	90,124			86,525
	Intercompany sales eliminations	(47,689		)	(45,629		)
	Total revenues	$	648,504		$	605,337
	Segment profit:
	Company bakery-cafe operations	$	85,998		$	99,124
	Franchise operations	31,079			27,457
	Fresh dough and other product operations	6,169			5,262
	Total segment profit	$	123,246		$	131,843
	Depreciation and amortization	$	33,947		$	29,442
	Unallocated general and administrative expenses	36,453			33,572
	Pre-opening expenses	1,649			1,824
	Interest expense	486			623
	Other (income) expense, net	(184		)	(1,212		)
	Income before income taxes	$	50,895		$	67,594
	Depreciation and amortization:
	Company bakery-cafe operations	$	27,335		$	24,783
	Fresh dough and other product operations	2,309			2,057
	Corporate administration	4,303			2,602
	Total depreciation and amortization	$	33,947		$	29,442
	Capital expenditures:
	Company bakery-cafe operations	$	35,518		$	30,284
	Fresh dough and other product operations	994			2,830
	Corporate administration	13,062			9,187
	Total capital expenditures	$	49,574		$	42,301
		March 31,			December 30,
		2015			2014
	Segment assets:
	Company bakery-cafe operations	$	925,244		$	953,896
	Franchise operations	9,966			13,145
	Fresh dough and other product operations	67,029			65,219
	Total segment assets	$	1,002,239		$	1,032,260
	Unallocated cash and cash equivalents	$	201,531		$	196,493
	Unallocated trade and other accounts receivable	2,129			3,104
	Unallocated property and equipment	90,431			84,224
	Unallocated deposits and other	3,657			3,791
	Other unallocated assets	41,143			71,030
	Total assets	$	1,341,130		$	1,390,902

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data):
		For the 13 Weeks Ended
		March 31,		April 1,
		2015		2014
	Amounts used for basic and diluted per share calculations:
	Net income	$	31,860	$	42,395
	Weighted average number of shares outstanding — basic	26,478		27,269
	Effect of dilutive stock-based employee compensation awards	91		136
	Weighted average number of shares outstanding — diluted	26,569		27,405
	Earnings per common share:
	Basic	$	1.2	$	1.55
	Diluted	$	1.2	$	1.55

Business_Combinations_and_Dive1

Business Combinations and Divestitures (Details Textuals) (USD $)	2 Months Ended	3 Months Ended
	Mar. 03, 2015	Mar. 31, 2015	Apr. 01, 2014	Dec. 30, 2014
Business Acquisitions And Divestitures [Line Items]
Disposal Group, Including Discontinued Operation, Inventory, Current		$1,391,000
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current		52,358,000
Assets held for sale		53,749,000		0
Disposal Group, Including Discontinued Operation, Deferred Rent		6,756,000
Disposal Group, Including Discontinued Operation, Asset Retirement Obligation		1,307,000
Liabilities associated with assets held for sale		8,063,000		0
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down		7,600,000
Impairment of Long-Lived Assets Held-for-use		3,800,000
Proceeds from refranchising	3,200,000	3,218,000	0
Gain (Loss) on Disposition of Business	$2,500,000
Refranchised Cafe [Domain]
Business Acquisitions And Divestitures [Line Items]
Number of bakery cafe		73
Minimum [Member] | Refranchised Cafe [Domain]
Business Acquisitions And Divestitures [Line Items]
Number of bakery cafe		50
Maximum [Member] | Refranchised Cafe [Domain]
Business Acquisitions And Divestitures [Line Items]
Number of bakery cafe		150

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair Value, Inputs, Level 1 [Member], USD $)	Mar. 31, 2015	Dec. 30, 2014
In Millions, unless otherwise specified
Fair Value, Inputs, Level 1 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$94.50	$92.30

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2015	Dec. 30, 2014
In Thousands, unless otherwise specified
Bakery cafes [Abstract]
Paper goods	$3,118	$3,786
Total	19,744	22,811
Fresh dough and other product operations [Member]
Fresh dough facilities [Abstract]
Raw materials	3,127	3,413
Finished goods	543	460
Company Bakery Cafe Operations [Member]
Fresh dough facilities [Abstract]
Raw materials	$12,956	$15,152

Accrued_Expenses_Details

Accrued Expenses (Details) (USD $)	Mar. 31, 2015	Dec. 30, 2014
Payables and Accruals [Abstract]
Unredeemed gift cards, net	$84,629,000	$105,576,000
Compensation and related employment taxes	33,608,000	59,442,000
Capital Expenditures	54,757,000	56,808,000
Insurance	34,905,000	32,559,000
Taxes, other than income taxes	20,641,000	21,068,000
Taxes Payable	9,768,000	0
Fresh dough and other product operations	9,365,000	6,812,000
Utilities	5,766,000	5,527,000
Occupancy costs	6,873,000	7,263,000
Deferred Revenue	4,984,000	5,291,000
Customer Loyalty Program Liability, Current	2,644,000	2,525,000
Advertising	21,530,000	10,147,000
Other	16,442,000	20,183,000
Total	$305,912,000	$333,201,000

Term_Loan_Details_Textuals

Term Loan (Details Textuals) (USD $)	3 Months Ended	6 Months Ended
	Mar. 31, 2015	Jun. 11, 2014	Dec. 30, 2014
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	$100,000,000		$100,000,000
Line of Credit Facility, Amount Outstanding			0
Consolidated Leverage Ratio	3
Consolidated Leverage Ratio Denominator	1
Consolidated Fixed Charge Coverage Ratio	2
Consolidated Fixed Charge Coverage Ratio Denominator	1
Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	11-Jun-19
Debt Issuance Cost		200,000
Debt Instrument, Interest Rate at Period End	1.17%
Term Loan [Member] | Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Unsecured Long-term Debt, Noncurrent	100,000,000
Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250,000,000
Line of Credit Facility, Expiration Date	30-Nov-17
Line of Credit Facility, Amount Outstanding	$0
LIBOR Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
LIBOR Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
LIBOR Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Base Rate Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.00%
Base Rate Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%

Share_Repurchase_Authorization1

Share Repurchase Authorization Share Repurchase Authorization (Details) (USD $)	3 Months Ended	10 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Jun. 05, 2014	Apr. 15, 2015
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$508,400,000	$508,400,000
2014 Repurchase Authorization [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased and Retired During Period, Value	25,000,000	91,600,000
Treasury Stock Acquired, Average Cost Per Share	$160.84	$157.13
Stock Repurchased and Retired During Period, Shares	155,401	582,922
Stock Repurchase Program, Authorized Amount			600,000,000
Subsequent Event [Member] | 2014 Repurchase Authorization [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$750,000,000

Commitments_and_Contingencies_

Commitments and Contingencies (Detail Textuals) (Guarantee of Indebtedness of Others [Member], USD $)	Mar. 31, 2015
In Millions, unless otherwise specified	franchisee
Guarantee of Indebtedness of Others [Member]
Loss Contingencies [Line Items]
Franchisees guaranteed under operating leases (in franchisees)	18
Potential amount of future rental payments	$15.90

Business_Segment_Information_D

Business Segment Information (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Apr. 01, 2014	Dec. 30, 2014	Dec. 31, 2013
Revenues:
Total revenues	$648,504	$605,337
Segment profit:
Total segment profit	123,246	131,843
Depreciation and amortization	33,947	29,442
Unallocated General and Administrative Expenses	37,767	35,007
Pre-opening expenses	1,649	1,824
Interest expense	486	623
Other (income) expense, net	-184	-1,212
Income before income taxes	50,895	67,594
Capital expenditures:
Capital Expenditures	49,574	42,301
Segment Assets
Unallocated cash and cash equivalents	201,531	101,087	196,493	125,245
Unallocated trade and other accounts receivable	36,085		36,584
Unallocated property and equipment	733,820		787,294
Total assets	1,341,130		1,390,902
Company bakery cafe operations [Member]
Revenues:
Total revenues	573,676	535,549
Franchise operations [Member]
Revenues:
Total revenues	32,393	28,892
Operating Segments [Member]
Segment profit:
Depreciation and amortization	33,947
Unallocated Amount to Segment [Member]
Segment profit:
Unallocated General and Administrative Expenses	36,453	33,572
Segment Assets
Unallocated cash and cash equivalents	201,531		196,493
Unallocated trade and other accounts receivable	2,129		3,104
Unallocated property and equipment	90,431		84,224
Unallocated deposits and other	3,657		3,791
Other unallocated assets	41,143		71,030
Operating Segments [Member]
Segment Assets
Total assets	1,002,239		1,032,260
Operating Segments [Member] | Company bakery cafe operations [Member]
Revenues:
Total revenues	573,676	535,549
Segment profit:
Total segment profit	85,998	99,124
Depreciation and amortization	27,335	24,783
Capital expenditures:
Capital Expenditures	35,518	30,284
Segment Assets
Total assets	925,244		953,896
Operating Segments [Member] | Franchise operations [Member]
Revenues:
Total revenues	32,393	28,892
Segment profit:
Total segment profit	31,079	27,457
Segment Assets
Total assets	9,966		13,145
Operating Segments [Member] | Fresh dough and other product operations [Member]
Revenues:
Total revenues	90,124	86,525
Segment profit:
Total segment profit	6,169	5,262
Depreciation and amortization	2,309	2,057
Capital expenditures:
Capital Expenditures	994	2,830
Segment Assets
Total assets	67,029		65,219
Operating Segments [Member] | Corporate Administration [Member]
Segment profit:
Depreciation and amortization	4,303	2,602
Capital expenditures:
Capital Expenditures	13,062	9,187
Intersegment Eliminations [Member] | Intersegment Eliminations [Member]
Revenues:
Total revenues	($47,689)	($45,629)

Business_Segment_Information_B

Business Segment Information Business Segment Information (Detail Textuals)	3 Months Ended
	Mar. 31, 2015
	segments
Segment Reporting [Abstract]
Maximum Delivered Cost On Fresh Dough Based On Retail Value Of End Product (as a percent)	27.00%
Segment Reporting Information Number Of Business Segments (in segments)	3

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Apr. 01, 2014
Amounts used for basic and diluted per share calculations
Net Income	$31,860	$42,395
Weighted average number of shares outstanding - basic (in shares)	26,478	27,269
Effect of dilutive stock-based employee compensation awards (in shares)	91	136
Weighted average number of shares outstanding - diluted (in shares)	26,569	27,405
Earnings per common share:
Basic (in dollars per share)	$1.20	$1.55
Diluted (in dollars per share)	$1.20	$1.55

Earnings_Per_Share_Details_Tex

Earnings Per Share (Details Textuals) (Stock Compensation Plan [Member])	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Apr. 01, 2014
Stock Compensation Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share	0.1	0.1