Ark Restaurants (ARKR) 10-Q 11 Feb 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 28, 2019	Feb. 03, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	ARK RESTAURANTS CORP
Document Type	10-Q
Current Fiscal Year End Date	--10-03
Amendment Flag	false
Entity Central Index Key	0000779544
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Dec. 28, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		3,500,907
Entity Shell Company	false
Entity Current Reporting Status	Yes

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
CURRENT ASSETS:
Cash and cash equivalents (includes $95 at December 28, 2019 and $170 at September 28, 2019 related to VIEs)	$ 7,211	$ 7,177
Accounts receivable (includes $266 at December 28, 2019 and $219 at September 28, 2019 related to VIEs)	2,407	2,621
Employee receivables	433	414
Inventories (includes $34 at December 28, 2019 and $41 at September 28, 2019 related to VIEs)	3,247	2,222
Prepaid and refundable income taxes (includes $254 at December 28, 2019 and $254 at September 28, 2019 related to VIEs)	254	254
Prepaid expenses and other current assets (includes $13 at December 28, 2019 and $12 at September 28, 2019 related to VIEs)	706	1,021
Total current assets	14,258	13,709
FIXED ASSETS - Net (includes $236 at December 28, 2019 and September 28, 2019 related to VIEs)	39,107	47,781
OPERATING LEASE RIGHT-OF-USE ASSETS - Net (includes $2,846 at December 28, 2019 related to VIEs)	60,749
INTANGIBLE ASSETS - Net	291	303
GOODWILL	15,570	15,570
TRADEMARKS	3,720	3,720
DEFERRED INCOME TAXES	3,981	4,106
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	6,834	6,821
OTHER ASSETS (includes $82 at December 28, 2019 and September 28, 2019 related to VIEs)	2,640	2,642
TOTAL ASSETS	147,150	94,652
CURRENT LIABILITIES:
Accounts payable - trade (includes $75 at December 28, 2019 and $65 at September 28, 2019 related to VIEs)	4,318	3,549
Accrued expenses and other current liabilities (includes $431 at December 28, 2019 and $440 at September 28, 2019 related to VIEs)	9,761	10,672
Accrued income taxes	471	285
Dividend payable	875	875
Current portion of notes payable	2,701	2,701
Current portion of operating lease liabilities (includes $211 at December 28, 2019 related to VIEs)	6,218
Total current liabilities	24,344	18,082
OPERATING LEASE DEFERRED CREDIT (includes ($30) at September 28, 2019 related to VIEs)		10,077
NOTES PAYABLE, LESS CURRENT PORTION, net of deferred financing costs	23,121	23,786
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION (includes $2,614 at December 28, 2019 related to VIEs)	56,242
TOTAL LIABILITIES	103,707	51,945
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, par value $.01 per share - authorized, 10,000 shares; issued and outstanding, 3,499 shares at December 28, 2019 and September 28, 2019	35	35
Additional paid-in capital	13,289	13,277
Retained earnings	29,190	28,552
Total Ark Restaurants Corp. shareholders’ equity	42,514	41,864
NON-CONTROLLING INTERESTS	929	843
TOTAL EQUITY	43,443	42,707
TOTAL LIABILITIES AND EQUITY	$ 147,150	$ 94,652

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Statement of Financial Position [Abstract]
VIEs, Cash and cash equivalents	$ 95	$ 170
VIEs, Accounts receivable	266	219
VIEs, Inventories	34	41
VIEs, Prepaid and refundable income taxes	254	254
VIEs, Prepaid expenses and other current assets	13	12
VIEs, Fixed assets	236	236
VIEs, Operating lease right-of-use assets	2,846
VIEs, Other assets	82	82
VIEs, Accounts payable trade	75	65
VIEs, Accrued expenses and other current liabilities	431	440
VIEs, Operating lease liabilities, current	211
VIEs, Operating lease deferred credit		$ (30)
VIEs, Operating lease liabilities	$ 2,614
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	3,499,000	3,499,000
Common stock, outstanding (in shares)	3,499,000	3,499,000

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
REVENUES:
Total revenues	$ 43,514	$ 40,548
COSTS AND EXPENSES:
Payroll expenses	15,122	14,105
Other operating costs and expenses	5,328	4,975
General and administrative expenses	3,054	3,409
Depreciation and amortization	1,195	1,206
Total costs and expenses	41,078	39,176
RESTAURANT OPERATING INCOME	2,436	1,372
Loss on closure of Durgin-Park	0	(1,067)
OPERATING INCOME	2,436	305
OTHER (INCOME) EXPENSE:
Interest expense	459	311
Interest income	(13)	(14)
Total other expense, net	446	297
INCOME BEFORE PROVISION FOR INCOME TAXES	1,990	8
Provision for income taxes	319	23
CONSOLIDATED NET INCOME (LOSS)	1,671	(15)
Net income attributable to non-controlling interests	(158)	(47)
NET INCOME (LOSS) ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$ 1,513	$ (62)
NET INCOME (LOSS) PER ARK RESTAURANTS CORP. COMMON SHARE:
Basic (in USD per share)	$ 0.43	$ (0.02)
Diluted (in USD per share)	$ 0.43	$ (0.02)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in shares)	3,499	3,474
Diluted (in shares)	3,541	3,474
Food and beverage sales
REVENUES:
Total revenues	$ 42,829	$ 39,838
COSTS AND EXPENSES:
Cost of goods and services sold	10,940	10,476
Other revenue
REVENUES:
Total revenues	685	710
Occupancy expenses
COSTS AND EXPENSES:
Cost of goods and services sold	$ 5,439	$ 5,005

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Total Ark Restaurants Corp. Shareholders’ Equity	Non- controlling Interests
BALANCE (in shares) at Sep. 29, 2018		3,470,000
BALANCE at Sep. 29, 2018	$ 43,736	$ 35	$ 12,897	$ 29,364	$ 42,296	$ 1,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(15)			(62)	(62)	47
Exercise of stock options (in shares)		7,000
Exercise of stock options	94		94		94
Stock-based compensation	12		12		12
Distributions to non-controlling interests	(97)					(97)
Dividend paid	(868)			(868)	(868)
BALANCE (in shares) at Dec. 29, 2018		3,477,000
BALANCE at Dec. 29, 2018	42,862	$ 35	13,003	28,434	41,472	1,390
BALANCE (in shares) at Sep. 28, 2019		3,499,000
BALANCE at Sep. 28, 2019	42,707	$ 35	13,277	28,552	41,864	843
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 1,671			1,513	1,513	158
Exercise of stock options (in shares)	0
Stock-based compensation	$ 12		12		12
Distributions to non-controlling interests	(72)					(72)
Dividend paid	(875)			(875)	(875)
BALANCE (in shares) at Dec. 28, 2019		3,499,000
BALANCE at Dec. 28, 2019	$ 43,443	$ 35	$ 13,289	$ 29,190	$ 42,514	$ 929

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Statement of Stockholders' Equity [Abstract]
Dividends (in USD per share)	$ 0.25	$ 0.25

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ 1,671	$ (15)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:
Stock-based compensation	12	12
Asset impairment on closure of Durgin-Park	0	1,067
Deferred income taxes	125	26
Accrued interest on note receivable from NMR	(13)	(15)
Depreciation and amortization	1,195	1,206
Amortization of deferred financing costs	10	8
Operating lease deferred credit	(98)	(171)
Changes in operating assets and liabilities:
Accounts receivable	214	440
Inventories	(1,025)	(28)
Prepaid, refundable and accrued income taxes	186	294
Prepaid expenses and other current assets	315	(66)
Other assets	2	41
Accounts payable - trade	769	(521)
Accrued expenses and other current liabilities	(911)	(1,438)
Net cash provided by operating activities	2,452	840
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(777)	(554)
Loans and advances made to employees	(68)	(113)
Payments received on employee receivables	49	48
Net cash used in investing activities	(796)	(619)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable	(675)	(311)
Dividends paid	(875)	(1,736)
Proceeds from issuance of stock upon exercise of stock options	0	94
Distributions to non-controlling interests	(72)	(97)
Net cash used in financing activities	(1,622)	(2,050)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	34	(1,829)
CASH AND CASH EQUIVALENTS, Beginning of period	7,177	5,012
CASH AND CASH EQUIVALENTS, End of period	7,211	3,183
Cash paid during the period for:
Interest	379	210
Income taxes	8	10
Non-cash financing activities:
Accrued dividend	$ 875	$ 0

BASIS OF PRESENTATION AND CRITI

BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES	3 Months Ended
	Dec. 28, 2019
Accounting Policies [Abstract]
Basis of Presentation and Critical Accounting Policies	BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES The consolidated condensed balance sheet as of September 28, 2019 , which has been derived from audited consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended September 28, 2019 (“Form 10-K”), and the unaudited interim consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. All adjustments that, in the opinion of management are necessary for a fair presentation for the periods presented, have been reflected as required by Article 10 of Regulation S-X. Such adjustments are of a normal, recurring nature. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Form 10-K. The Company had a working capital deficiency of $10,086,000 at December 28, 2019 . We believe that our existing cash balances, current banking facilities and cash provided by operations will be sufficient to meet our liquidity and capital spending requirements at least through February 12, 2021. PRINCIPLES OF CONSOLIDATION — The consolidated condensed interim financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest, collectively herein referred to as the “Company”. Also included in the consolidated condensed interim financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation. USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The accounting estimates that require management’s most difficult and subjective judgments include allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its assets, such as property and intangibles, fair values of financial instruments and share-based compensation, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates. The results of operations for the 13 weeks ended December 28, 2019 are not necessarily indicative of the results to be expected for any other interim period or for the year ending October 3, 2020 . SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. However, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants. FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet dates and approximate the carrying value of such debt instruments. CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets. CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. Accounts receivable are primarily comprised of normal business receivables, such as credit card receivables, that are collected in a short period of time and amounts due from the hotel operators where the Company has a location, and are recorded upon satisfaction of the performance obligation. The Company reviews the collectability of its receivables on an ongoing basis, and provides for an allowance when it considers the entity unable to meet its obligation. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the Company and the number of customers comprising the Company’s customer base. As of December 28, 2019 , the Company had accounts receivable balances due from one hotel operator totaling 38% of total accounts receivable. As of September 28, 2019 , the Company had accounts receivable balances due from one hotel operator totaling 34% of total accounts receivable. For the 13-week period ended December 28, 2019 , the Company did not make purchases from any vendor that accounted for 10% or greater of total purchases for the respective period. For the 13-week period ended December 29, 2018 , the Company made purchases from one vendor that accounted for 11% of total purchases. As of December 28, 2019 and September 28, 2019 , all debt outstanding is with one lender (see Note 7 – Notes Payable – Bank). REVENUE RECOGNITION — We recognize revenues when it satisfies a performance obligation by transferring control over a product or service to a restaurant guest or other customer. Revenues from restaurant operations are presented net of discounts, coupons, employee meals and complimentary meals and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Catering service revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for the service. Revenues from catered events are recognized in income upon satisfaction of the performance obligation (the date the event is held) and all customer payments, including nonrefundable upfront deposits, are deferred as a liability until such time. We recognized $5,682,000 and $5,830,000 in catering services revenue for the 13-week periods ended December 28, 2019 and December 29, 2018 , respectively. Unearned revenue which is included in accrued expenses and other current liabilities on the consolidated condensed balance sheets as of December 28, 2019 and September 28, 2019 , was $3,067,000 and $4,549,000 , respectively. LEASES — We determine if an arrangement contains a lease at inception. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration. As a lessee, we include operating leases in Operating lease right-of-use assets and Operating lease liabilities in our consolidated condensed balance sheet. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease. Options are included when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with a lease term of 12 months or less are accounted for using the practical expedient which allows for straight-line rent expense over the remaining term of the lease. SEGMENT REPORTING — As of December 28, 2019 , the Company owned and operated 20 restaurants and bars, 17 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and services, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance. RECENTLY ADOPTED ACCOUNTING PRINCIPLES — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize assets and liabilities for leases with lease terms of more than twelve months. The new guidance also requires additional disclosures about leases. The Company adopted the new standard on September 29, 2019 (the first day of fiscal year 2020) using the modified retrospective approach, without restating comparative periods for those lease contracts for which we have taken possession of the property as of September 28, 2019. Accordingly, prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 (“ASC 840”), the accounting standard then in effect. As part of our adoption we elected the "package of practical expedients", as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classifications of leases as well as allowing us to combine lease and non-lease components of our real estate leases. We also elected to adopt the short-term lease exception for all leases with terms of twelve months or less and account for them using straight-line rent expense over the remaining life of the lease. As a result of the adoption of this guidance, we recorded right-of-use assets of $62,330,000 and lease liabilities related to our real estate operating leases of $63,943,000 . The adoption of this standard did not materially impact retained earnings or our consolidated condensed statement of operations and had no impact on cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under this ASU, the guidance on share-based payments to non-employees would be aligned with the requirements for share-based payments granted to employees, with certain exceptions. The Company adopted this guidance in the first quarter of fiscal 2020. Such adoption did not have a material impact on our consolidated condensed financial statements. NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. A customer’s accounting for the costs of the hosting component of the arrangement are not affected by the new guidance. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. The adoption of this standard is not expected to result in a material impact to the Company’s consolidated condensed financial statements.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Dec. 28, 2019
Variable Interest Entities [Abstract]
Variable Interest Entities	VARIABLE INTEREST ENTITIES The Company consolidates any variable interest entities in which it holds a variable interest and is the primary beneficiary. Generally, a variable interest entity, or VIE, is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support; (b) as a group the holders of the equity investment at risk lack (i) the ability to make decisions about an entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The primary beneficiary of a VIE is generally the entity that has (a) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company has determined that it is the primary beneficiary of three VIEs and, accordingly, consolidates the financial results of these entities. Following are the required disclosures associated with the Company’s consolidated VIEs: December 28, September 28, (in thousands) Cash and cash equivalents $ 95 $ 170 Accounts receivable 266 219 Inventories 34 41 Prepaid and refundable income taxes 254 254 Prepaid expenses and other current assets 13 12 Due from Ark Restaurants Corp. and affiliates (1) 394 392 Fixed assets - net 236 236 Operating lease right-of-use assets - net 2,846 — Other assets 82 82 Total assets $ 4,220 $ 1,406 Accounts payable - trade $ 75 $ 65 Accrued expenses and other current liabilities 431 440 Current portion of operating lease liabilities 211 — Operating lease deferred credit — (30 ) Operating lease liabilities, less current portion 2,614 — Total liabilities 3,331 475 Equity of variable interest entities 889 931 Total liabilities and equity $ 4,220 $ 1,406 (1) Amounts Due from and to Ark Restaurants Corp. and affiliates are eliminated upon consolidation. The liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets; rather, they represent claims against the specific assets of the consolidated VIEs. Conversely, assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets.

RECENT RESTAURANT EXPANSION AND

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS	3 Months Ended
	Dec. 28, 2019
Business Combinations [Abstract]
Recent Restaurant Expansion and Other Developments	RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS On May 15, 2019, the Company, through a newly formed, wholly-owned subsidiary, acquired the assets of JB's on the Beach , a restaurant and bar located in Deerfield Beach, Florida, for $7,036,000 as set out below. The acquisition is accounted for as a business combination and was financed with a bank loan from the Company’s existing lender in the amount of $7,000,000 and cash from operations. The fair values of the assets acquired, none of which are amortizable, were allocated as follows (amounts in thousands): Cash $ 11 Inventory 80 Furniture, fixtures and equipment 200 Trademarks 1,110 Goodwill 5,690 Liabilities assumed (55 ) $ 7,036 Goodwill recognized in connection with this transaction represents the residual amount of the purchase price over separately identifiable intangible assets and is expected to be deductible for tax purposes. Concurrent with the acquisition, the Company entered into a 20 year lease (with a five year extension option) for the restaurant facility and parking lot with the former owner of JB's on the Beach , who is also the owner of the underlying real estate. Payments under the lease are $600,000 per year with 10% increases every five years . The consolidated condensed statements of income for the 13 weeks ended December 28, 2019 include revenues and income of approximately $2,422,000 and $43,000 , respectively, related to JB's on the Beach . The unaudited pro forma financial information set forth below is based upon the Company’s historical consolidated condensed statements of income for the 13 weeks ended December 29, 2018 and includes the results of operations for JB's on the Beach for the period prior to acquisition. The unaudited pro forma financial information (which is presented in thousands except per share and share data), which has been adjusted for payments under the lease discussed above as well as interest expense of the term loan, is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition of JB's on the Beach occurred on the dates indicated, nor does it purport to represent the results of operations for future periods. 13 Weeks Ended December 29, (unaudited) Total revenues $ 43,144 Net income $ 24 Net income per share - basic $ 0.01 Net income per share - diluted $ 0.01 Basic 3,474 Diluted 3,539 During 2019, the Company was advised by the landlord of our food court at the Hard Rock Casino and Hotel in Hollywood, Florida, that they were exercising their right to relocate our space, at their sole cost, as contractually agreed to in the original lease. The new facilities were completed on September 16, 2019, on which date we closed our existing location and opened the new facilities. The Company recorded the value of the renovations made by the landlord, which includes leasehold improvements and furniture, fixtures and equipment, in the amount of $5,474,000 with a corresponding increase in deferred rent. The net book value of the existing leasehold improvements relating to the original location in the amount of $918,000 is being reflected as a reduction of deferred rent on a straight-line basis over the remaining lease term. During 2019, the Company was advised by the landlord of our food court at the Hard Rock Casino and Hotel in Tampa, Florida, that they were exercising their right to renovate the front of the house space, at their sole cost, as contractually agreed to in the original lease. In connection with this renovation we closed our existing facilities on June 2, 2019 and re-opened the renovated facilities on September 28, 2019. The Company recorded the value of the renovations made by the landlord, which includes leasehold improvements and furniture, fixtures and equipment, in the amount of $3,179,000 with a corresponding increase in deferred rent. The net book value of the existing leasehold improvements relating to the original location in the amount of $459,000 is being reflected as a reduction of deferred rent on a straight-line basis over the remaining lease term. Upon adoption of ASC 842, the unamortized Hollywood and Tampa balances of leasehold improvements and deferred rent in the amounts of $8,269,000 and $7,198,000 , respectively were reclassified as right-of-use assets in the net amount of $1,071,000 and are being amortized to lease expense on a straight line basis over the remaining terms of the respective leases.

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS	3 Months Ended
	Dec. 28, 2019
Recent Restaurant Dispositions [Abstract]
Recent Restaurant Dispositions	RECENT RESTAURANT DISPOSITIONS As of December 29, 2018 , the Company determined that it would not be able to operate Durgin-Park profitably due to decreased traffic at the Faneuil Hall Marketplace in Boston, MA, where it was located, and rising labor costs. As a result, included in the consolidated condensed statements of income for the 13 weeks ended December 29, 2018, are losses on closure in the amount of $1,067,000 consisting of: (i) impairment of trademarks in the amount of $721,000 , (ii) accelerated depreciation of fixed assets in the amount of $333,000 , and (iii) write-offs of prepaid and other expenses in the amount of $13,000 . The restaurant closed on January 12, 2019.

INVESTMENT IN NEW MEADOWLANDS R

INVESTMENT IN NEW MEADOWLANDS RACETRACK	3 Months Ended
	Dec. 28, 2019
ASU 2016-01 Transition [Abstract]
Investment in New Meadowlands Racetrack	INVESTMENT IN NEW MEADOWLANDS RACETRACK On March 12, 2013, the Company made a $4,200,000 investment in the New Meadowlands Racetrack LLC (“NMR”) through its purchase of a membership interest in Meadowlands Newmark, LLC, an existing member of NMR with a then 63.7% ownership interest. On November 19, 2013, the Company invested an additional $464,000 in NMR through a purchase of an additional membership interest in Meadowlands Newmark, LLC resulting in a total ownership of 11.6% of Meadowlands Newmark, LLC, and an effective ownership interest in NMR of 7.4% , subject to dilution. In 2015, the Company invested an additional $222,000 in NMR and on February 7, 2017, the Company invested an additional $222,000 in NMR, both as a result of capital calls, bringing its total investment to $5,108,000 with no change in ownership. As of September 29, 2018 , this investment was accounted for based on the cost method. As of September 30, 2018, the Company elected to account for this investment at cost, less impairment, adjusted for subsequent observable price changes in accordance with ASU No. 2016-01. Such change did not affect the value of our investment in NMR as no events or changes in circumstances occurred during the 13 weeks ended December 28, 2019 that would indicate impairment and there are no observable prices for this investment. Any future changes in the carrying value of our Investment in NMR will be reflected in earnings. In addition to the Company’s ownership interest in NMR through Meadowlands Newmark, LLC, if casino gaming is approved at the Meadowlands and NMR is granted the right to conduct said gaming, neither of which can be assured, the Company shall be granted the exclusive right to operate the food and beverage concessions in the gaming facility with the exception of one restaurant. In conjunction with this investment, the Company, through a 97% owned subsidiary, Ark Meadowlands LLC (“AM VIE”), also entered into a long-term agreement with NMR for the exclusive right to operate food and beverage concessions serving the new raceway facilities (the “Racing F&B Concessions”) located in the new raceway grandstand constructed at the Meadowlands Racetrack in northern New Jersey. Under the agreement, NMR is responsible to pay for the costs and expenses incurred in the operation of the Racing F&B Concessions, and all revenues and profits thereof inure to the benefit of NMR. AM VIE receives an annual fee equal to 5% of the net profits received by NMR from the Racing F&B Concessions during each calendar year. AM VIE is a variable interest entity; however, based on qualitative consideration of the contracts with AM VIE, the operating structure of AM VIE, the Company’s role with AM VIE, and that the Company is not obligated to absorb expected losses of AM VIE, the Company has concluded that it is not the primary beneficiary and not required to consolidate the operations of AM VIE. The Company’s maximum exposure to loss as a result of its involvement with AM VIE is limited to any receivable from AM VIE’s primary beneficiary (NMR, a related party). As of December 28, 2019 and September 29, 2018 , no amounts were due AM VIE by NMR. On April 25, 2014, the Company loaned $1,500,000 to Meadowlands Newmark, LLC. The note bears interest at 3% , compounded monthly and added to the principal, and is due in its entirety on January 31, 2024 . The note may be prepaid, in whole or in part, at any time without penalty or premium. On July 13, 2016, the Company made an additional loan to Meadowlands Newmark, LLC in the amount of $200,000 . Such amount is subject to the same terms and conditions as the original loan as discussed above. The principal and accrued interest related to this note in the amounts of $1,726,000 and $1,713,000 are included in Investment In and Receivable From New Meadowlands Racetrack in the consolidated condensed balance sheets at December 28, 2019 and September 28, 2019 , respectively.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Dec. 28, 2019
Disclosure Text Block Supplement [Abstract]
Accrued Expenses and Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: December 28, September 28, (In thousands) Sales tax payable $ 1,666 $ 1,141 Accrued wages and payroll related costs 2,348 2,942 Customer advance deposits 3,506 5,071 Accrued occupancy and other operating expenses 2,241 1,518 $ 9,761 $ 10,672

NOTES PAYABLE - BANK

NOTES PAYABLE - BANK	3 Months Ended
	Dec. 28, 2019
Notes Payable [Abstract]
Notes Payable - Bank	NOTES PAYABLE – BANK Long-term debt consists of the following: December 28, September 28, (In thousands) Promissory Note - Rustic Inn purchase $ 3,972 $ 4,043 Promissory Note - Shuckers purchase 4,590 4,675 Promissory Note - Oyster House purchase 4,573 4,728 Promissory Note - JB's on the Beach purchase 6,500 6,750 Promissory Note - Sequoia renovation 2,972 3,086 Revolving Facility 3,366 3,366 25,973 26,648 Less: Current maturities (2,701 ) (2,701 ) Less: Unamortized deferred financing costs (151 ) (161 ) Long-term debt $ 23,121 $ 23,786 On June 1, 2018, the Company refinanced (the "Refinancing") its then existing indebtedness with its current lender, Bank Hapoalim B.M. (“BHBM”), by entering into an amended and restated credit agreement (the "Revolving Facility”), which expires on May 31, 2021 . The Revolving Facility provides for total availability of the lesser of (i) $10,000,000 and (ii) $35,000,000 less the then aggregate amount of all indebtedness and obligations to BHBM. Borrowings under the Revolving Facility are payable upon maturity of the Revolving Facility with interest payable monthly at LIBOR plus 3.5% , subject to adjustment based on certain ratios. As of December 28, 2019 and September 28, 2019 , borrowings of $ 3,366,000 , were outstanding under the Revolving Facility and had a weighted average interest rate of 4.4% and 4.9% , respectively. As of December 28, 2019 , $6,396,000 was available under the Revolving Facility. In connection with the Refinancing, the Company also amended the principal amounts and payment terms of its outstanding term notes with BHBM as follows: • Promissory Note – Rustic Inn purchase – On February 25, 2013, the Company issued a promissory note to BHBM for $3,000,000 . The note bore interest at LIBOR plus 3.5% per annum, and was payable in 36 equal monthly installments of $83,333 , commencing on March 25, 2013 . On February 24, 2014, in connection with the acquisition of the Rustic Inn , the Company borrowed an additional $6,000,000 from BHBM under the same terms and conditions as the original loan which was consolidated with the remaining principal balance from the original borrowing at that date. The new loan was payable in 60 equal monthly installments of $134,722 , which commenced on March 25, 2014 . In connection with the Refinancing, this note was amended and restated and increased by $2,783,333 of credit facility borrowings. The new principal amount of $4,400,000 , which is secured by a mortgage on the Rustic Inn real estate, is payable in 27 equal quarterly installments of $71,333 , commencing on September 1, 2018 , with a balloon payment of $2,474,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note – Shuckers purchase – On October 22, 2015, in connection with the acquisition of Shuckers , the Company issued a promissory note to BHBM for $5,000,000 . The note bore interest at LIBOR plus 3.5% per annum, and was payable in 60 equal monthly installments of $83,333 , commencing on November 22, 2015 . In connection with the Refinancing, this note was amended and restated and increased by $2,433,324 of credit facility borrowings. The new principal amount of $5,100,000 , which is secured by a mortgage on the Shuckers real estate, is payable in 27 equal quarterly installments of $85,000 , commencing on September 1, 2018 , with a balloon payment of $2,805,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note – Oyster House purchase – On November 30, 2016, in connection with the acquisition of the Oyster House properties, the Company issued a promissory note under the Revolving Facility to BHBM for $8,000,000 . The note bore interest at LIBOR plus 3.5% per annum, and was payable in 60 equal monthly installments of $133,273 , commencing on January 1, 2017 . In connection with the Refinancing, this note was amended and restated and separated into two notes. The first note, in the principal amount of $3,300,000 , is secured by a mortgage on the Oyster House Gulf Shores real estate, is payable in 19 equal quarterly installments of $117,857 , commencing on September 1, 2018 , with a balloon payment of $1,060,716 on June 1, 2023 and bears interest at LIBOR plus 3.5% per annum. The second note, in the principal amount of $2,200,000 , is secured by a mortgage on the Oyster House Spanish Fort real estate, is payable in 27 equal quarterly installments of $36,667 , commencing on September 1, 2018 , with a balloon payment of $1,210,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note - JB's on the Beach purchase – On May 15, 2019, in connection with the previously discussed acquisition of JB’s on the Beach , the Company issued a promissory note under the Revolving Facility to BHBM for $7,000,000 which is payable in 23 equal quarterly installments of $250,000 , commencing on September 1, 2019 , with a balloon payment of $1,250,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note - Sequoia renovation – Also on May 15, 2019, the Company converted $3,200,000 of Revolving Facility borrowings incurred in connection with the Sequoia renovation to a promissory note which is payable in 23 equal quarterly installments of $114,286 , commencing on September 1, 2019 , with a balloon payment of $571,429 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. Deferred financing costs in the amount of $207,000 are being amortized over the life of the agreements on a straight-line basis, which is materially consistent with the effective interest method, and included in interest expense. Amortization expense of approximately $10,000 and $8,000 is included in interest expense for the 13 weeks ended December 28, 2019 and December 29, 2018 , respectively. Borrowings under the Revolving Facility, which include all of the above promissory notes, are secured by all tangible and intangible personal property (including accounts receivable, inventory, equipment, general intangibles, documents, chattel paper, instruments, letter-of-credit rights, investment property, intellectual property and deposit accounts) and fixtures of the Company. The loan agreements provide, among other things, that the Company meet minimum quarterly tangible net worth amounts, as defined therein, maintain a fixed charge coverage ratio of not less than 1.1 :1 on a latest 12-months' basis and minimum annual net income amounts, and contain customary representations, warranties and affirmative covenants. The agreements also contain customary negative covenants, subject to negotiated exceptions on liens, relating to other indebtedness, capital expenditures, liens, affiliate transactions, disposal of assets and certain changes in ownership. The Company was in compliance with all of its financial covenants under the Revolving Facility as of December 28, 2019 .

LEASES

LEASES	3 Months Ended
	Dec. 28, 2019
Leases [Abstract]
Leases	LEASES Other than locations where we own the underlying property, we lease our restaurant locations as well as our corporate office under various non-cancelable real-estate lease agreements that expire on various dates through 2044. We evaluate whether we control the use of the asset, which is determined by assessing whether we obtain substantially all economic benefits from the use of the asset, and whether we have the right to direct the use of the asset. If these criteria are met and we have identified a lease, we account for the contract under the requirements of ASC 842. Upon the possession of a leased asset, we determine its classification as an operating or finance lease. All of our real estate leases are classified as operating leases. We do not have any finance leases as of December 28, 2019. Generally, our real estate leases have initial terms ranging from 10 to 25 years and typically include renewal options. Renewal options are recognized as part of the right-of-use assets and lease liabilities if it is reasonably certain at the date of adoption that we would exercise the options to extend the lease. Our real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, variable lease expense is accrued in proportion to the sales recognized during the period. For operating leases that include rent holidays and rent escalation clauses, we recognize lease expense on a straight-line basis over the lease term from the date we take possession of the leased property. We record the straight-line lease expense and any contingent rent, if applicable, in occupancy expenses on the consolidated condensed statements of operations. Many of our real estate leases also require us to pay real estate taxes, common area maintenance costs and other occupancy costs (“non-lease components”) which are included in occupancy related expenses on the consolidated condensed statements of operations. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As there were no explicit rates provided in our leases, we used our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The components of lease expense in the consolidated condensed statement of operations are as follows: 13 Weeks Ended December 28, (In thousands) Operating lease expense - occupancy expenses (1) $ 2,524 Occupancy lease expense - general and administrative expenses 157 Variable lease expense 1,756 Total lease expense $ 4,437 (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases: 13 Weeks Ended December 28, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 3,740 Non-cash investing activities: Right-of-use-assets obtained in exchange for new operating lease liabilities $ 62,330 The weighted-average remaining lease terms and discount rates as of December 28, 2019 are as follows: Weighted-Average Remaining Lease Term (Years) Weighted-Average Discount Rate Operating leases 11.0 Years 5.5 % The annual maturities of our lease liabilities as of December 28, 2019 are as follows: Operating Leases Fiscal Year Ending (In thousands) October 3, 2020 $ 7,087 October 2, 2021 9,552 October 1, 2022 9,638 September 30, 2023 8,125 September 28, 2024 7,739 Thereafter 41,079 Total future lease commitments 83,220 Less imputed interest (20,760 ) Present value of lease liabilities $ 62,460

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 28, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Leases — The Company leases several restaurants, bar facilities, and administrative headquarters through its subsidiaries under terms expiring at various dates through 2039 . Most of the leases provide for the payment of base rents plus real estate taxes, insurance and other expenses and, in certain instances, for the payment of a percentage of the restaurant’s sales in excess of stipulated amounts at such facility and in one instance based on profits. Legal Proceedings — In the ordinary course of its business, the Company is a party to various lawsuits arising from accidents at its restaurants and workers' compensation claims, which are generally handled by the Company’s insurance carriers. The employment by the Company of management personnel, waiters, waitresses and kitchen staff at a number of different restaurants has resulted, from time to time, in litigation alleging violation by the Company of employment discrimination laws. Management believes, based in part on the advice of counsel, that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. On May 1, 2018, two former tipped service workers (the “Plaintiffs”), individually and on behalf of all other similarly situated personnel, filed a putative class action lawsuit (the “Complaint”) against the Company and certain subsidiaries as well as certain officers of the Company (the “Defendants”). Plaintiffs allege on behalf of themselves and the putative class, that the Company violated certain of the New York State Labor Laws and related regulations. The Complaint seeks unspecified money damages, together with interest, liquidated damages and attorney fees. There has been no discovery on the merits of the Complaint and the matter is still in the initial stages of discovery concerning whether the named Plaintiffs are seeking to represent an appropriate class of tipped service workers and if so, whether the named Plaintiffs are appropriate class representatives. The Company's Motion to Dismiss the Complaint was denied on June 27, 2019. The Company believes that the allegations and claims in the Complaint are without merit, and it intends to defend itself vigorously in this litigation. However, the outcomes of legal actions are unpredictable and subject to significant uncertainties, and thus it is inherently difficult to determine the probability or quantification of any loss. Based on information currently available, including the Company’s assessment of the facts underlying the Complaint and advice of counsel, the amount or range of reasonably possible losses, if any, cannot be estimated. Accordingly, the Company has not recorded any accrual related to this matter as of December 28, 2019 .

STOCK OPTIONS

STOCK OPTIONS	3 Months Ended
	Dec. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options	STOCK OPTIONS The Company has options outstanding under two stock option plans, the 2010 Stock Option Plan (the “2010 Plan”) and the 2016 Stock Option Plan (the “2016 Plan”). Options granted under both plans are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted and expire ten years after the date of grant. The Company also maintains a Section 162(m) Cash Bonus Plan. Under the Company's Section 162(m) Cash Bonus Plan, compensation paid in excess of $1,000,000 to any employee who is the chief executive officer, or one of the three highest paid executive officers on the last day of that tax year (other than the chief executive officer or the chief financial officer) is not tax deductible. A summary of stock option activity is presented below: 2020 Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Outstanding, beginning of period 363,500 $18.46 4.8 Years Options: Granted — Exercised — Canceled or expired — Outstanding and expected to vest, end of period 363,500 $19.25 4.5 Years $ 1,090,000 Exercisable, end of period 341,000 $19.21 4.1 Years $ 1,043,000 Shares available for future grant 441,000 Compensation cost charged to operations for the 13 weeks ended December 28, 2019 and December 29, 2018 for share-based compensation programs was approximately $12,000 and $12,000 , respectively. The compensation cost recognized is classified as a general and administrative expense in the consolidated condensed statements of operations. As of December 28, 2019 , there was approximately $41,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of three years .

INCOME TAXES

INCOME TAXES	3 Months Ended
	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company’s provision (benefit) for income taxes consists of federal and state taxes, as applicable, in amounts necessary to align the Company’s year-to-date tax provision with the effective rate that it expects to achieve for the full year. Each quarter, the Company updates its estimate of the annual effective tax rate and records cumulative adjustments as necessary. The income tax provision for the 13-week periods ended December 28, 2019 and December 19, 2018 were $319,000 and $23,000 , respectively. The effective tax rate for the 13 week period ended December 28, 2019 was 15.2% and differed from the statutory rate of 21% as a result of the tax benefits related to the generation of FICA tax credits and operating income attributable to non-controlling interests that is not taxable to the Company. The effective tax rate for the 13 week period ended December 29, 2018 was 287.5% and differed significantly from the statutory rate of 21% as a result of the estimated income tax provision for the quarter which included a discrete item of $22,000 divided by the marginal ordinary income for the quarter. The Company’s overall effective tax rate in the future will be affected by factors such as the utilization of state and local net operating loss carryforwards, the generation of FICA tax credits and the mix of earnings by state taxing jurisdictions as Nevada does not impose a state income tax, as compared to the other major state and local jurisdictions in which the Company has operations. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from current estimates.

INCOME PER SHARE OF COMMON STOC

INCOME PER SHARE OF COMMON STOCK	3 Months Ended
	Dec. 28, 2019
Earnings Per Share [Abstract]
Income Per Share of Common Stock	INCOME PER SHARE OF COMMON STOCK Basic earnings per share is computed by dividing net income attributable to Ark Restaurants Corp. by the weighted-average number of common shares outstanding for the period. Our diluted earnings per share is computed similarly to basic earnings per share, except that it reflects the effect of common shares issuable upon exercise of stock options, using the treasury stock method in periods in which they have a dilutive effect. A reconciliation of shares used in calculating earnings per basic and diluted share follows: 13 Weeks Ended December 28, December 29, 2019 2018 Basic 3,499 3,474 Effect of dilutive securities: Stock options 42 — Diluted 3,541 3,474 For the 13-week period ended December 28, 2019 , the dilutive effect of options to purchase 192,000 shares of common stock at exercise prices ranging from $22.30 per share to $22.50 per share were not included in diluted earnings per share as their impact would have been anti-dilutive. For the 13-week period ended December 29, 2018 all options were excluded from diluted earnings per share as all were anti-dilutive.

DIVIDENDS

DIVIDENDS	3 Months Ended
	Dec. 28, 2019
Dividends [Abstract]
Dividends	DIVIDENDS On November 26, 2019, the Board of Directors declared a quarterly dividend of $0.25 per share on the Company’s common stock to be paid on January 7, 2020 , to shareholders of record at the close of business on December 16, 2019 . The Company intends to continue to pay such quarterly cash dividends for the foreseeable future; however, the payment of future dividends is at the discretion of the Company’s Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S. taxation and other relevant factors.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Dec. 28, 2019
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT On February 4, 2020, options to purchase 266,500 shares of common stock at an exercise price of $21.90 per share were granted employees and directors of the Company. Such options are exercisable as to 50% of the shares commencing on the second anniversary of the date of grant and the remaining 50% becoming exercisable on the fourth anniversary of the date of grant. The grant date fair value of these stock options was $3.35 per share.

BASIS OF PRESENTATION AND CRI_2

BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 28, 2019
Accounting Policies [Abstract]
Principles of Consolidation	PRINCIPLES OF CONSOLIDATION — The consolidated condensed interim financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest, collectively herein referred to as the “Company”. Also included in the consolidated condensed interim financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The accounting estimates that require management’s most difficult and subjective judgments include allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its assets, such as property and intangibles, fair values of financial instruments and share-based compensation, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates. The results of operations for the 13 weeks ended December 28, 2019 are not necessarily indicative of the results to be expected for any other interim period or for the year ending October 3, 2020 .
Seasonality	SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. However, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet dates and approximate the carrying value of such debt instruments.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets.
Concentrations of Credit Risk	CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. Accounts receivable are primarily comprised of normal business receivables, such as credit card receivables, that are collected in a short period of time and amounts due from the hotel operators where the Company has a location, and are recorded upon satisfaction of the performance obligation. The Company reviews the collectability of its receivables on an ongoing basis, and provides for an allowance when it considers the entity unable to meet its obligation. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the Company and the number of customers comprising the Company’s customer base.
Revenue Recognition	REVENUE RECOGNITION — We recognize revenues when it satisfies a performance obligation by transferring control over a product or service to a restaurant guest or other customer. Revenues from restaurant operations are presented net of discounts, coupons, employee meals and complimentary meals and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Catering service revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for the service. Revenues from catered events are recognized in income upon satisfaction of the performance obligation (the date the event is held) and all customer payments, including nonrefundable upfront deposits, are deferred as a liability until such time.
Leases	LEASES — We determine if an arrangement contains a lease at inception. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration. As a lessee, we include operating leases in Operating lease right-of-use assets and Operating lease liabilities in our consolidated condensed balance sheet. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease. Options are included when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with a lease term of 12 months or less are accounted for using the practical expedient which allows for straight-line rent expense over the remaining term of the lease.
Segment Reporting	SEGMENT REPORTING — As of December 28, 2019 , the Company owned and operated 20 restaurants and bars, 17 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and services, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance.
Recently Adopted Accounting Principles and New Accounting Standards Not Yet Adopted	RECENTLY ADOPTED ACCOUNTING PRINCIPLES — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize assets and liabilities for leases with lease terms of more than twelve months. The new guidance also requires additional disclosures about leases. The Company adopted the new standard on September 29, 2019 (the first day of fiscal year 2020) using the modified retrospective approach, without restating comparative periods for those lease contracts for which we have taken possession of the property as of September 28, 2019. Accordingly, prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 (“ASC 840”), the accounting standard then in effect. As part of our adoption we elected the "package of practical expedients", as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classifications of leases as well as allowing us to combine lease and non-lease components of our real estate leases. We also elected to adopt the short-term lease exception for all leases with terms of twelve months or less and account for them using straight-line rent expense over the remaining life of the lease. As a result of the adoption of this guidance, we recorded right-of-use assets of $62,330,000 and lease liabilities related to our real estate operating leases of $63,943,000 . The adoption of this standard did not materially impact retained earnings or our consolidated condensed statement of operations and had no impact on cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under this ASU, the guidance on share-based payments to non-employees would be aligned with the requirements for share-based payments granted to employees, with certain exceptions. The Company adopted this guidance in the first quarter of fiscal 2020. Such adoption did not have a material impact on our consolidated condensed financial statements. NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. A customer’s accounting for the costs of the hosting component of the arrangement are not affected by the new guidance. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. The adoption of this standard is not expected to result in a material impact to the Company’s consolidated condensed financial statements.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Dec. 28, 2019
Variable Interest Entities [Abstract]
Schedule of Variable Interest Entities	Following are the required disclosures associated with the Company’s consolidated VIEs: December 28, September 28, (in thousands) Cash and cash equivalents $ 95 $ 170 Accounts receivable 266 219 Inventories 34 41 Prepaid and refundable income taxes 254 254 Prepaid expenses and other current assets 13 12 Due from Ark Restaurants Corp. and affiliates (1) 394 392 Fixed assets - net 236 236 Operating lease right-of-use assets - net 2,846 — Other assets 82 82 Total assets $ 4,220 $ 1,406 Accounts payable - trade $ 75 $ 65 Accrued expenses and other current liabilities 431 440 Current portion of operating lease liabilities 211 — Operating lease deferred credit — (30 ) Operating lease liabilities, less current portion 2,614 — Total liabilities 3,331 475 Equity of variable interest entities 889 931 Total liabilities and equity $ 4,220 $ 1,406 (1) Amounts Due from and to Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

RECENT RESTAURANT EXPANSION A_2

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS (Tables)	3 Months Ended
	Dec. 28, 2019
Business Combinations [Abstract]
Allocation of Fair Values of Assets Acquired	The fair values of the assets acquired, none of which are amortizable, were allocated as follows (amounts in thousands): Cash $ 11 Inventory 80 Furniture, fixtures and equipment 200 Trademarks 1,110 Goodwill 5,690 Liabilities assumed (55 ) $ 7,036
Pro Forma Information	The unaudited pro forma financial information (which is presented in thousands except per share and share data), which has been adjusted for payments under the lease discussed above as well as interest expense of the term loan, is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition of JB's on the Beach occurred on the dates indicated, nor does it purport to represent the results of operations for future periods. 13 Weeks Ended December 29, (unaudited) Total revenues $ 43,144 Net income $ 24 Net income per share - basic $ 0.01 Net income per share - diluted $ 0.01 Basic 3,474 Diluted 3,539

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Dec. 28, 2019
Disclosure Text Block Supplement [Abstract]
Schedule of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: December 28, September 28, (In thousands) Sales tax payable $ 1,666 $ 1,141 Accrued wages and payroll related costs 2,348 2,942 Customer advance deposits 3,506 5,071 Accrued occupancy and other operating expenses 2,241 1,518 $ 9,761 $ 10,672

NOTES PAYABLE - BANK (Tables)

NOTES PAYABLE - BANK (Tables)	3 Months Ended
	Dec. 28, 2019
Notes Payable [Abstract]
Schedule of Debt	Long-term debt consists of the following: December 28, September 28, (In thousands) Promissory Note - Rustic Inn purchase $ 3,972 $ 4,043 Promissory Note - Shuckers purchase 4,590 4,675 Promissory Note - Oyster House purchase 4,573 4,728 Promissory Note - JB's on the Beach purchase 6,500 6,750 Promissory Note - Sequoia renovation 2,972 3,086 Revolving Facility 3,366 3,366 25,973 26,648 Less: Current maturities (2,701 ) (2,701 ) Less: Unamortized deferred financing costs (151 ) (161 ) Long-term debt $ 23,121 $ 23,786

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Dec. 28, 2019
Leases [Abstract]
Lease Cost	The components of lease expense in the consolidated condensed statement of operations are as follows: 13 Weeks Ended December 28, (In thousands) Operating lease expense - occupancy expenses (1) $ 2,524 Occupancy lease expense - general and administrative expenses 157 Variable lease expense 1,756 Total lease expense $ 4,437 (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases: 13 Weeks Ended December 28, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 3,740 Non-cash investing activities: Right-of-use-assets obtained in exchange for new operating lease liabilities $ 62,330 The weighted-average remaining lease terms and discount rates as of December 28, 2019 are as follows: Weighted-Average Remaining Lease Term (Years) Weighted-Average Discount Rate Operating leases 11.0 Years 5.5 %
Annual Maturities of Lease Liabilities	The annual maturities of our lease liabilities as of December 28, 2019 are as follows: Operating Leases Fiscal Year Ending (In thousands) October 3, 2020 $ 7,087 October 2, 2021 9,552 October 1, 2022 9,638 September 30, 2023 8,125 September 28, 2024 7,739 Thereafter 41,079 Total future lease commitments 83,220 Less imputed interest (20,760 ) Present value of lease liabilities $ 62,460

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	3 Months Ended
	Dec. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Option Activity	A summary of stock option activity is presented below: 2020 Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Outstanding, beginning of period 363,500 $18.46 4.8 Years Options: Granted — Exercised — Canceled or expired — Outstanding and expected to vest, end of period 363,500 $19.25 4.5 Years $ 1,090,000 Exercisable, end of period 341,000 $19.21 4.1 Years $ 1,043,000 Shares available for future grant 441,000

INCOME PER SHARE OF COMMON ST_2

INCOME PER SHARE OF COMMON STOCK (Tables)	3 Months Ended
	Dec. 28, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of shares used in calculating earnings per basic and diluted share follows: 13 Weeks Ended December 28, December 29, 2019 2018 Basic 3,499 3,474 Effect of dilutive securities: Stock options 42 — Diluted 3,541 3,474

BASIS OF PRESENTATION AND CRI_3

BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES (Details)	3 Months Ended
	Dec. 28, 2019USD ($)segment	Dec. 29, 2018USD ($)	Sep. 29, 2019USD ($)	Sep. 28, 2019USD ($)
Business And Summary Of Significant Accounting Policies [Line Items]
Working capital deficiency	$ 10,086,000
Revenues	43,514,000	$ 40,548,000
Unearned revenue	3,067,000			$ 4,549,000
Right-of-use asset	60,749,000		$ 62,330,000
Lease liabilities	$ 62,460,000		$ 63,943,000
Restaurants and Bars
Business And Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	20
Fast Food Concepts and Catering Operations
Business And Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	17
Catering Services
Business And Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 5,682,000	$ 5,830,000
Top Vendor
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk		11.00%
One Hotel Operator | Accounts Receivable
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk	38.00%	34.00%

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	Dec. 28, 2019variable_inerest_entity
Variable Interest Entities [Abstract]
Number of VIEs with primary benefits	3

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of variable interest entities (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Schedule of variable interest entities [Abstract]
Cash and cash equivalents	$ 95	$ 170
Accounts receivable	266	219
Inventories	34	41
Prepaid and refundable income taxes	254	254
Prepaid expenses and other current assets	13	12
Due from Ark Restaurants Corp. and affiliates	394	392
Fixed assets - net	236	236
VIEs, Operating lease right-of-use assets	2,846
Other assets	82	82
Total assets	4,220	1,406
Accounts payable - trade	75	65
Accrued expenses and other current liabilities	431	440
VIEs, Operating lease liabilities, current	211
Operating lease deferred credit		(30)
VIEs, Operating lease liabilities	2,614
Total liabilities	3,331	475
Equity of variable interest entities	889	931
Total liabilities and equity	$ 4,220	$ 1,406

RECENT RESTAURANT EXPANSION A_3

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Narrative (Details) - USD ($)	Sep. 29, 2019	Sep. 28, 2019	Sep. 16, 2019	May 15, 2019	Dec. 28, 2019
Business Acquisition [Line Items]
Notes payable		$ 26,648,000			$ 25,973,000
Deferred rent		10,077,000
Property, pant and equipment, net		47,781,000			39,107,000
Right-of-use asset	$ 62,330,000				60,749,000
JB's on the Beach
Business Acquisition [Line Items]
Consideration				$ 7,036,000
Notes payable		3,086,000		$ 7,000,000	2,972,000
Revenues of acquiree since acquisition					2,422,000
Income of acquiree since acquisition					$ 43,000
JB's on the Beach
Business Acquisition [Line Items]
Lease term				20 years
Lease renewal term				5 years
Annual rent payments				$ 600,000
Rent percent increase every five years				10.00%
Rent increase period				5 years
Leasehold Improvements And Furniture, Fixtures And Equipment | Hard Rock Casino and Hotel, Hollywood Florida
Business Acquisition [Line Items]
Property, plant and equipment, additions			$ 5,474,000
Deferred rent			5,474,000
Property, pant and equipment, net			$ 918,000
Leasehold Improvements And Furniture, Fixtures And Equipment | Hard Rock Casino and Hotel, Tampa, Florida
Business Acquisition [Line Items]
Property, plant and equipment, additions		3,179,000
Deferred rent		3,179,000
Property, pant and equipment, net		$ 459,000
ASC 842 | Leasehold Improvements And Furniture, Fixtures And Equipment
Business Acquisition [Line Items]
Right-of-use asset	1,071,000
ASC 842 | Leasehold Improvements And Furniture, Fixtures And Equipment | Hard Rock Casino And Hotel, Hollywood And Tampa, Florida
Business Acquisition [Line Items]
Property, plant and equipment, additions	(8,269,000)
Deferred rent	$ (7,198,000)

RECENT RESTAURANT EXPANSION A_4

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Schedule of Assets Acquired (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019	May 15, 2019
Business Acquisition [Line Items]
Goodwill	$ 15,570	$ 15,570
JB's on the Beach
Business Acquisition [Line Items]
Cash			$ 11
Inventory			80
Furniture, fixtures and equipment			200
Trademarks			1,110
Goodwill			5,690
Liabilities assumed			(55)
Assets acquired, net			$ 7,036

RECENT RESTAURANT EXPANSION A_5

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Business Acquisition [Line Items]
Basic (in shares)	3,499	3,474
Diluted (in shares)	3,541	3,474
JB's on the Beach
Business Acquisition [Line Items]
Total revenues		$ 43,144
Net income		$ 24
Net income per share - basic (in USD per share)		$ 0.01
Net income per share - diluted (in USD per share)		$ 0.01
Basic (in shares)		3,474
Diluted (in shares)		3,539

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Loss on closure of Durgin-Park	$ 0	$ 1,067
Durgin Park
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Loss on closure of Durgin-Park	1,067
Accelerated depreciation	333
Amortization of prepaid and other expenses	13
Durgin Park | Trademarks
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Trademark impairment	$ 721

INVESTMENT IN NEW MEADOWLANDS_2

INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) - USD ($)	Feb. 07, 2017	Apr. 25, 2014	Nov. 19, 2013	Mar. 12, 2013	Dec. 28, 2019	Dec. 31, 2015	Sep. 28, 2019	Jul. 13, 2016
New Meadowlands Racetrack LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Payments to acquire businesses				$ 4,200,000
Ownership percentage			7.40%
Payments to acquire additional interest in subsidiaries	$ 222,000		$ 464,000			$ 222,000
Long-term Investments					$ 5,108,000
Meadowlands Newmark LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage			11.60%	63.70%
Loans to related party		$ 1,500,000
Interest rate		3.00%
Loan maturity date					Jan. 31, 2024
Additional loan								$ 200,000
Principal and accrued interest					$ 1,726,000		$ 1,713,000
Ark Meadowlands LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage by parent					97.00%
Profit participation percentage					5.00%
Maximum loss					$ 0		$ 0

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 28, 2019
Schedule of Accrued Expenses And Other Current Liabilities [Abstract]
Sales tax payable	$ 1,666	$ 1,141
Accrued wages and payroll related costs	2,348	2,942
Customer advance deposits	3,506	5,071
Accrued occupancy and other operating expenses	2,241	1,518
Accrued expenses and other current liabilities	$ 9,761	$ 10,672

NOTES PAYABLE - BANK - Schedule

NOTES PAYABLE - BANK - Schedule of Long-term Debt (Details) - USD ($)	Dec. 28, 2019	Sep. 28, 2019	May 15, 2019
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	$ 25,973,000	$ 26,648,000
Less: Current maturities	(2,701,000)	(2,701,000)
Less: Unamortized deferred financing costs	(151,000)	(161,000)
Long-term debt	23,121,000	23,786,000
Revolving Credit Facility
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	3,366,000	3,366,000
The Rustic Inn
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	3,972,000	4,043,000
Shuckers Inc
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	4,590,000	4,675,000
Oyster House
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	4,573,000	4,728,000
Sequoia Renovation
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	6,500,000	6,750,000
JB's on the Beach
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	$ 2,972,000	$ 3,086,000	$ 7,000,000

NOTES PAYABLE - BANK - Narrativ

NOTES PAYABLE - BANK - Narrative (Details)	May 15, 2019USD ($)installment	Jun. 01, 2018USD ($)installment	Nov. 30, 2016USD ($)installment	Oct. 22, 2015USD ($)installment	Feb. 24, 2014USD ($)installment	Feb. 25, 2013USD ($)installment	Dec. 28, 2019USD ($)	Dec. 29, 2018USD ($)	Sep. 28, 2019USD ($)
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable							$ 25,973,000		$ 26,648,000
The Rustic Inn
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable							3,972,000		4,043,000
Shuckers Inc
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable							4,590,000		4,675,000
Oyster House
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable							4,573,000		4,728,000
JB's on the Beach
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable	$ 7,000,000						2,972,000		3,086,000
Sequoia Renovation
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable							6,500,000		6,750,000
Bank Hapoalim B.M. | The Rustic Inn
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate						3.50%
Face amount						$ 3,000,000
Number of installments | installment					60	36
Frequency of periodic payment					monthly	monthly
Periodic payment					$ 134,722	$ 83,333
Date of first required payment					Mar. 25, 2014	Mar. 25, 2013
Bank loan related to acquisition					$ 6,000,000
Bank Hapoalim B.M. | Shuckers Inc
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate				3.50%
Face amount				$ 5,000,000
Number of installments | installment				60
Frequency of periodic payment				monthly
Periodic payment				$ 83,333
Date of first required payment				Nov. 22, 2015
Revolving Credit Facility
NOTES PAYABLE - BANK (Details) [Line Items]
Notes payable							3,366,000		3,366,000
Amortization of other deferred charges							207,000
Amortization							10,000	$ 8,000
Revolving Credit Facility | Bank Hapoalim B.M.
NOTES PAYABLE - BANK (Details) [Line Items]
Expiration date		May 31, 2021
Current borrowing capacity		$ 10,000,000
Maximum borrowing capacity		$ 35,000,000
Basis spread on variable rate		3.50%
Credit facility							$ 3,366,000		$ 3,366,000
Weighted average interest rate							4.40%		4.90%
Available borrowing capacity							$ 6,396,000
Revolving Credit Facility | Bank Hapoalim B.M. | Oyster House
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate			3.50%
Face amount			$ 8,000,000
Number of installments | installment			60
Frequency of periodic payment			monthly
Periodic payment			$ 133,273
Date of first required payment			Jan. 1, 2017
Revolving Credit Facility | Bank Hapoalim B.M. | JB's on the Beach
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate	3.50%
Notes payable	$ 7,000,000
Number of installments | installment	23
Periodic payment	$ 250,000
Date of first required payment	Sep. 1, 2019
Balloon payment to be paid	$ 1,250,000
Revolving Credit Facility | Bank Hapoalim B.M. | Sequoia Renovation
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate	3.50%
Notes payable	$ 3,200,000
Number of installments | installment	23
Periodic payment	$ 114,286
Date of first required payment	Sep. 1, 2019
Balloon payment to be paid	$ 571,429
Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | The Rustic Inn
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate		3.50%
Face amount		$ 4,400,000
Number of installments | installment		27
Frequency of periodic payment		quarterly
Periodic payment		$ 71,333
Date of first required payment		Sep. 1, 2018
Additional borrowing capacity		$ 2,783,333
Balloon payment to be paid		$ 2,474,000
Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | Shuckers Inc
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate		3.50%
Face amount		$ 5,100,000
Number of installments | installment		27
Frequency of periodic payment		quarterly
Periodic payment		$ 85,000
Date of first required payment		Sep. 1, 2018
Additional borrowing capacity		$ 2,433,324
Balloon payment to be paid		$ 2,805,000
Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | Oyster House Gulf Shores
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate		3.50%
Face amount		$ 3,300,000
Number of installments | installment		19
Frequency of periodic payment		quarterly
Periodic payment		$ 117,857
Date of first required payment		Sep. 1, 2018
Balloon payment to be paid		$ 1,060,716
Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | Oyster House Spanish Fort
NOTES PAYABLE - BANK (Details) [Line Items]
Basis spread on variable rate		3.50%
Face amount		$ 2,200,000
Number of installments | installment		27
Frequency of periodic payment		quarterly
Periodic payment		$ 36,667
Date of first required payment		Sep. 1, 2018
Balloon payment to be paid		$ 1,210,000
Minimum
NOTES PAYABLE - BANK (Details) [Line Items]
Fixed charge coverage ratio							1.1

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Dec. 28, 2019
Minimum
Lessor, Lease, Description [Line Items]
Lease term	10 years
Maximum
Lessor, Lease, Description [Line Items]
Lease term	25 years

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) $ in Thousands	3 Months Ended
	Dec. 28, 2019USD ($)
Leases [Abstract]
Operating lease expense - occupancy expenses	$ 2,524
Occupancy lease expense - general and administrative expenses	157
Variable lease expense	1,756
Total lease expense	$ 4,437

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow (Details) $ in Thousands	3 Months Ended
	Dec. 28, 2019USD ($)
Leases [Abstract]
Operating cash flows related to operating leases	$ 3,740
Right-of-use-assets obtained in exchange for new operating lease liabilities	$ 62,330

LEASES - Weighted Average Lease

LEASES - Weighted Average Lease Terms (Details)	Dec. 28, 2019
Leases [Abstract]
Weighted-Average Remaining Lease Term (Years)	10 years 11 months 15 days
Weighted-Average Discount Rate	5.50%

LEASES - Annual Maturities of L

LEASES - Annual Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 28, 2019	Sep. 29, 2019
Leases [Abstract]
October 3, 2020	$ 7,087
October 2, 2021	9,552
October 1, 2022	9,638
September 30, 2023	8,125
September 28, 2024	7,739
Thereafter	41,079
Total future lease commitments	83,220
Less imputed interest	(20,760)
Present value of lease liabilities	$ 62,460	$ 63,943

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended
	Dec. 28, 2019
Commitments and Contingencies Disclosure [Abstract]
Lease expiration year	2039

STOCK OPTIONS (Details)

STOCK OPTIONS (Details)	3 Months Ended
	Dec. 28, 2019USD ($)plan	Dec. 29, 2018USD ($)
STOCK OPTIONS (Details) [Line Items]
Number of stock option plans | plan	2
Compensation paid	$ 1,000,000
Stock-based compensation	12,000	$ 12,000
Unrecognized compensation	$ 41,000
Unrecognized compensation, period for recognition	3 years
Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Expiration period	10 years

STOCK OPTIONS (Details) - Sched

STOCK OPTIONS (Details) - Schedule of stock options, activity - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	363,500,000
Granted (in shares)	0
Exercised (in shares)	0
Canceled or expired (in shares)	0
Outstanding and expected to vest, end of period (in shares)	363,500,000
Exercisable, end of period (in shares)	341,000,000
Shares available for future grant (in shares)	441,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in USD per share)	$ 18.46
Outstanding and expected to vest, end of period (in USD per share)	19.25
Exercisable, end of period (in USD per share)	$ 19.21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual term, outstanding, beginning of period	4 years 6 months	4 years 9 months 18 days
Weighted average contractual term, exercisable, end of period	4 years 1 month 6 days
Aggregate intrinsic value, outstanding and expected to vest, end of period	$ 1,090,000
Aggregate intrinsic value, exercisable, end of period	$ 1,043,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 319,000	$ 23,000
Effective income tax rate	15.20%	287.50%
Discrete tax provision		$ 22,000

INCOME PER SHARE OF COMMON ST_3

INCOME PER SHARE OF COMMON STOCK (Details) - shares shares in Thousands	3 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Earnings Per Share [Abstract]
Basic (in shares)	3,499	3,474
Effect of dilutive securities:
Stock options (in shares)	42	0
Diluted (in shares)	3,541	3,474

INCOME PER SHARE OF COMMON ST_4

INCOME PER SHARE OF COMMON STOCK - NARRATIVE (Details)	3 Months Ended
	Dec. 28, 2019$ / sharesshares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares) | shares	192,000
Minimum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 22.30
Maximum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 22.50

DIVIDENDS (Details)

DIVIDENDS (Details)	Nov. 26, 2019$ / shares
Dividends [Abstract]
Dividends declared (in USD per share)	$ 0.25

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - $ / shares	Feb. 04, 2020	Dec. 28, 2019
Subsequent Event [Line Items]
Granted (in shares)		0
Subsequent Event
Subsequent Event [Line Items]
Granted (in shares)	266,500
Exercise price (in US dollars per share)	$ 21.90
Grant date fair value (in US dollars per share)	$ 3.35
Tranche One | Subsequent Event
Subsequent Event [Line Items]
Vesting percent	50.00%
Tranche Two | Subsequent Event
Subsequent Event [Line Items]
Vesting percent	50.00%