West Marine (WMAR) 10-Q 28 Oct 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 28, 2013	Oct. 22, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	WEST MARINE INC
Entity Central Index Key	912833
Current Fiscal Year End Date	-16
Document Type	10-Q
Document Period End Date	28-Sep-13
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		24,364,579
Entity Filer Category	Accelerated Filer

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 28, 2013	Dec. 29, 2012	Sep. 29, 2012
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$69,935	$56,542	$68,283
Trade receivables, net	7,905	6,723	7,500
Merchandise inventories	222,227	194,332	213,117
Deferred income taxes	5,512	4,622	3,440
Assets held for sale	0	4,283	4,283
Other current assets	16,783	16,371	14,760
Total current assets	322,362	282,873	311,383
Property and equipment, net	69,918	59,532	58,850
Long-term deferred income taxes	5,567	8,392	7,126
Other assets	3,354	3,471	2,976
TOTAL ASSETS	401,201	354,268	380,335
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	31,428	21,074	29,545
Accrued expenses and other	48,902	40,928	49,881
Total current liabilities	80,330	62,002	79,426
Deferred rent and other	16,470	13,858	14,339
Total liabilities	96,800	75,860	93,765
Commitments and contingencies - see Note 6
Stockholders' equity:
Preferred stock, $.001 par value: 1,000,000 shares authorized; no shares outstanding	0	0	0
Common stock, $.001 par value: 50,000,000 shares authorized; 24,434,419 shares issued and 24,354,670 shares outstanding at September 28, 2013; 23,777,030 shares issued and 23,746,140 shares outstanding at December 29, 2012; and 23,451,455 shares issued and 23,420,565 shares outstanding at September 29, 2012	24	24	23
Treasury stock	-934	-385	-385
Additional paid-in capital	200,175	193,388	190,468
Accumulated other comprehensive loss	-701	-791	-820
Retained earnings	105,837	86,172	97,284
Total stockholders' equity	304,401	278,408	286,570
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$401,201	$354,268	$380,335

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 28, 2013	Dec. 29, 2012	Sep. 29, 2012
Statement of Financial Position [Abstract]
Preferred stock, par value	$0.00	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares outstanding	0	0	0
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000	50,000,000
Common stock, shares issued	24,434,419	23,777,030	23,451,455
Common stock, shares outstanding	24,354,670	23,746,140	23,420,565

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Income Statement [Abstract]
Net revenues	$193,362	$191,924	$544,356	$556,964
Cost of goods sold	138,512	131,628	382,002	381,315
Gross profit	54,850	60,296	162,354	175,649
Selling, general and administrative expense	41,725	43,121	126,403	130,439
Restructuring costs	7	4	3	159
Income from operations	13,118	17,171	35,948	45,051
Interest expense	104	217	327	661
Income before income taxes	13,014	16,954	35,621	44,390
Provision for income taxes	6,677	6,682	15,956	17,749
Net income	$6,337	$10,272	$19,665	$26,641
Net income per common and common equivalent share:
Basic	$0.26	$0.44	$0.81	$1.15
Diluted	$0.26	$0.43	$0.80	$1.12
Weighted average common and common equivalent shares outstanding:
Basic	24,383	23,383	24,193	23,215
Diluted	24,641	23,813	24,531	23,706

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Condensed Consolidated Statements of Comprehensive Income
Net income	$6,337	$10,272	$19,665	$26,641
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	-39	-68	90	-93
Total comprehensive income	$6,298	$10,204	$19,755	$26,548

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 28, 2013	Sep. 29, 2012
OPERATING ACTIVITIES:
Net income	$19,665	$26,641
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	11,117	11,513
Share-based compensation	2,511	2,372
Excess tax benefit from share-based compensation	-874	-412
Deferred income taxes	2,902	4,669
Provision for doubtful accounts	10	106
Lower of cost or market inventory adjustments	1,519	1,466
Loss on asset disposals	105	60
Changes in assets and liabilities:
Trade receivables	-1,192	-1,834
Merchandise inventories	-29,414	-21,208
Other current assets	-422	-968
Other assets	45	-188
Accounts payable	11,100	3,060
Accrued expenses and other	8,755	8,859
Deferred items and other non-current liabilities	1,645	100
Net cash provided by (used in) operating activities	27,472	34,236
INVESTING ACTIVITIES:
Proceeds from sale of property and equipment	4,330	93
Purchases of property and equipment	-22,255	-12,831
Net cash provided by (used in) investing activities	-17,925	-12,738
FINANCING ACTIVITIES:
Borrowings on line of credit	3,552	4,767
Repayments on line of credit	-3,552	-4,767
Proceeds from exercise of stock options	3,112	2,090
Proceeds from sale of common stock pursuant to Associates Stock Buying Plan	383	340
Excess tax benefit from share-based compensation	874	412
Treasury shares acquired	-549	0
Net cash provided by financing activities	3,820	2,842
Effect of exchange rate changes on cash	26	-23
NET INCREASE IN CASH	13,393	24,317
CASH AT BEGINNING OF PERIOD	56,542	43,966
CASH AT END OF PERIOD	69,935	68,283
Other cash flow information:
Cash paid for interest	220	452
Cash paid for income taxes	3,059	4,143
Non-cash investing activities
Property and equipment additions in accounts payable	$1,745	$357

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 28, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION
	The accompanying unaudited condensed consolidated financial statements have been prepared from the records of West Marine, Inc. and its subsidiaries (collectively, the “Company”) in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting only of normal recurring items) necessary to fairly present the financial position at September 28, 2013 and September 29, 2012, and the interim results of operations for the 13-week and 39-week periods then ended and cash flows for the 39-week periods then ended, have been included.
	The condensed consolidated balance sheet at December 29, 2012 presented herein has been derived from the audited consolidated financial statements of the Company for the year then ended that was included in the Company's Annual Report on Form 10-K for the year ended December 29, 2012 (the “2012 Form 10-K”). These unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto, for the fiscal year ended December 29, 2012 that were included in the 2012 Form 10-K.
	Accounting policies followed by the Company are described in Note 1 in the audited consolidated financial statements for the year ended December 29, 2012. Certain information and disclosures normally included in the notes to annual financial statements prepared in accordance with GAAP have been omitted for purposes of the condensed consolidated interim financial statements presented herein. The preparation of financial statements in conformity with GAAP requires management 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. Actual results could differ from those estimates. The results of operations for the 13-week and 39-week periods ended September 28, 2013 are not necessarily indicative of the results to be expected for any other interim period or for the fiscal year ending December 28, 2013. Historically, the Company's revenues and net income are higher in the second and third quarters and decrease in the first and fourth quarters of the fiscal year. The increase in revenues and earnings, principally during the period from April through August, is representative of the peak months for boat buying, usage and maintenance in most of the Company's retail markets.
	The Company's fiscal year consists of 52 weeks, ending on the Saturday closest to December 31. The 2013 fiscal year and 2012 fiscal year consist of the 52 weeks ending on December 28, 2013 and December 29, 2012, respectively. All quarters of both fiscal years 2013 and 2012 consist of 13 weeks. All references to years relate to fiscal years rather than calendar years.
	Reclassifications
	Certain prior year amounts have been reclassified to conform to the current year presentation.
	Fair Value of Financial Instruments
	Fair value is the exchange price that would be received for an asset or that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prescribed under GAAP contains three levels, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
	Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
	Level 2 - Include other inputs that are directly or indirectly observable in the marketplace.
	Level 3 - Unobservable inputs which are supported by little or no market activity.
	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company's cash and cash equivalents consists of cash on hand and bank deposits and is classified within Level 1 because they are valued using quoted market prices for each period presented: as of September 28, 2013, December 29, 2012 and September 29, 2012 cash balances were $69.9 million, $56.5 million and $68.3 million, respectively.
	Assets Held for Sale
	On September 28, 2012, the Company entered into an agreement to sell its former Ft. Lauderdale store and the related land for a purchase price of $4.5 million. The location was vacated when the Company's new flagship store opened in the same market in November 2011. The sale closed in March 2013, and the loss on the sale recognized by the Company was de minimis.
	Adoption of New and Recently Issued Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board, issued Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, ("ASU 2013-11"). ASU 2013-11 provides guidance regarding the presentation of unrecognized tax benefits when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. ASU 2013-11 requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward when settlement in this manner is available under the tax law. ASU 2013-11 is effective on a prospective basis for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company expects to adopt this guidance for its interim and and annual periods beginning December 30, 2013. The Company does not believe the adoption of this guidance will have a material impact on its consolidated financial statements.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 28, 2013
Income Tax Expense (Benefit) [Abstract]
Income Taxes	INCOME TAXES
	The Company calculates its interim income tax provision by estimating the annual effective tax rate and applying that rate to its year-to-date ordinary earnings. The tax expense or benefit related to significant, unusual or extraordinary items that will be separately reported or reported net of their related tax effect are individually computed and recognized in the interim period in which those items occur. In addition, the effect of changes in tax laws, rates or status is recognized in the interim period in which the change occurs. The Company evaluates its effective income tax rate on a quarterly basis and updates its estimate of the full-year effective income tax rate as necessary.
	The Company's effective income tax rate for the 13-week period ended September 28, 2013 was 51.3%, which resulted in a provision of $6.7 million, while the effective tax rate for the 13-week period ended September 29, 2012 was 39.4%, which also resulted in a provision of $6.7 million. The Company's effective income tax rate for the 39-week period ended September 28, 2013 was 44.8%, which resulted in a provision of $16.0 million, while the effective tax rate for the 39-week period ended September 29, 2012 was 40.0%, which resulted in a provision of $17.7 million.
	On July 11, 2013, the Governor of California signed legislation which significantly changed the California Enterprise Zones ("CA EZ"), effective for tax years beginning on or after January 1, 2014. Under prior law, CA EZ credits did not expire. Under the newly-enacted law, credits expire after 10 years. The Company currently has a $4.3 million deferred tax asset for California tax credits, which amount does not include the portion of the deferred tax asset that is already offset by an unrecognized tax benefit. In evaluating the impact of the new tax law, the Company determined that it is more likely than not that the Company will not be able to realize the tax benefit for a portion of the CA EZ credits. Therefore, a gross valuation allowance was recorded on these credits in the amount of $2.4 million. After adjusting for the expected federal tax benefit, the net valuation allowance recorded was $1.5 million. The net valuation allowance increased the Company's effective tax rate by 11.8% and 4.3% for the 13-week and the 39-week period ended September 28, 2013, respectively.
	On September 13, 2013, the U. S. Department of Treasury ("Treasury") released final tangible property regulations under Sections 162(a) and 263(a) of the Internal Revenue Code of 1986 (the "Code"), regarding the deduction and capitalization of expenditures related to tangible property. Treasury also released proposed regulations under Section 168 of the Code regarding dispositions of tangible property. These final and proposed regulations will be effective for the Company's tax year ending December 31, 2014. The Company continues to review the regulations and the expected impact on the Company's consolidated financial statements when they are effective.

ShareBased_Compensation

Share-Based Compensation	9 Months Ended
	Sep. 28, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION
	The Company recognized share-based compensation expense of $0.9 million for the 13-week period ended September 28, 2013 and $0.8 million for the 13-week period ended September 29, 2012, the majority of which was recorded as selling, general and administrative expense. The Company recognized share-based compensation expense of $2.5 million for the 39-week period ended September 28, 2013 and $2.4 million for the 39-week period ended September 29, 2012, the majority of which was recorded as selling, general and administrative expense. The tax benefits associated with share-based compensation expense for the 13-week and 39-week periods ended September 28, 2013 were $0.3 million and $0.8 million, respectively. The tax deficiencies associated with share-based compensation expense for the 13-week and 39-week periods ended September 29, 2012 were less than $0.1 million and $(0.4) million, respectively.
	The Manager Share Appreciation Plan ("MSAP") compensation expense for the 13-week and 39-week periods ended September 28, 2013 were less than $0.1 million and $0.1 million, respectively. The corresponding liability at September 28, 2013 was $0.1 million. The MSAP compensation expense for both the 13-week and 39-week periods ended September 29, 2012 was less than $0.1 million. The corresponding liability at September 29, 2012 was less than $0.1 million.

Segment_Information

Segment Information	9 Months Ended
	Sep. 28, 2013
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION
	The Company historically reported three segments—Stores, Port Supply (wholesale) and Direct-to-Consumer. In June 2012, the Company hired a new Chief Executive Officer (as the Company's chief operating decision maker or the “CODM”) and have since changed the way in which the Company is managed. There have been organizational changes implemented throughout the Company, and the Company has integrated systems and concentrated its strategic focus on omni-channel retailing. In addition, the Company has commingled sales channel payroll expense, inventories, merchandise procurement and distribution networks. As a result of these changes and in view of the change in how the CODM reviews operating results for the purposes of allocating resources and assessing performance, beginning in this fiscal year, the Company is reporting one reportable segment. Revenues from customers are derived from merchandise sales, and the Company does not rely on any individual major customers as a source of revenue.
	In addition to the Company’s 10 stores located in Canada and five franchised stores located in Turkey, revenues are attributed to geographic locations based on the location to which the Company ships its products. The Company operates primarily in the United States with foreign revenues representing less than 5% of total net revenues during each of the 13-week and 39-week periods ended September 28, 2013 and September 29, 2012, and foreign long-lived assets totaled less than 2% of long-lived assets at each of these dates.

Comprehensive_Income_Loss

Comprehensive Income (Loss)	9 Months Ended
	Sep. 28, 2013
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss)	COMPREHENSIVE INCOME (LOSS)
	Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes income, expenses, gains and losses that bypass the income statement and are reported directly as a separate component of equity. The Company’s comprehensive income consists of net income and foreign currency translation adjustments for all periods presented.

Contingencies

Contingencies	9 Months Ended
	Sep. 28, 2013
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES
	The Company is party to various legal and administrative proceedings, claims, product recalls, litigation and regulatory compliance audits arising from normal business activities. Additionally, many of these proceedings and audits raise complex factual and legal issues and are subject to uncertainties. The Company cannot predict with assurance the outcome of these matters. Accordingly, material adverse developments, settlements, or resolutions may occur and negatively impact results in the quarter in which such developments, settlements, or resolutions are reached.
	Based on the facts currently available, the Company does not believe that the disposition of matters that are pending or asserted, individually or in the aggregate, will have a material adverse effect on future financial results. However, changes in current facts or circumstances and/or an adverse judgment by a court, administrative or regulatory agency, arbitrator or a settlement could adversely impact the Company’s results of operations in any given period.
	For any claims, legal or administrative proceedings where the Company has determined that a loss is probable, there is no material difference between the amount accrued and the reasonably possible amount of loss. For any such matters where a loss is reasonably possible, the range of estimated loss is not material, individually and in the aggregate.

Restructuring_Costs

Restructuring Costs	9 Months Ended
	Sep. 28, 2013
Restructuring and Related Activities [Abstract]
Restructuring Costs	RESTRUCTURING COSTS
	Restructuring charges include severance costs, lease termination fees, legal and professional fees paid for lease termination negotiations, and other costs associated with the closure of facilities that are part of formal restructuring plans. Severance benefits are detailed in approved severance plans, which are specific as to number, position, location and timing. In addition, severance benefits are communicated in specific detail to affected employees and are unlikely to change when costs are recorded. Costs are recognized over the period services are rendered, otherwise they are recognized when they are communicated to the employees. Other associated costs, such as legal and professional fees, are expensed as incurred. Accrued liabilities related to costs associated with restructuring activities outstanding as of September 28, 2013 were $0.7 million. Restructuring charges are expected to be fully paid by April 2019, and the cumulative amount incurred through September 28, 2013 is $20.2 million. The restructuring charges are reflected on the condensed consolidated statement of income. There was no change to the total obligation for the periods presented.
	Costs and obligations (included in “Accrued liabilities” in the Company's condensed consolidated balance sheets) recorded in 2013, 2012 and 2011 in conjunction with the restructuring costs are as follows (in thousands):
		Termination			Store Lease			Total
		Benefits			Termination
		and Other			Costs
		Costs
	Ending balance, January 1, 2011	$	293		$	1,949		$	2,242
	Charges (reduction in charges)	19			(69		)	(50		)
	Payments	(152		)	(976		)	(1,128		)
	Ending balance, December 31, 2011	$	160		$	904		$	1,064
	Charges	8			91			99
	Payments	(10		)	(303		)	(313		)
	Ending balance, December 29, 2012	$	158		$	692		$	850
	Charges (reduction in charges)	(1		)	4			3
	Reclassification	(156		)	156			—
	Payments	(1		)	(131		)	(132		)
	Ending balance, September 28, 2013	$	—		$	721		$	721

Net_Income_Per_Share

Net Income Per Share	9 Months Ended
	Sep. 28, 2013
Earnings Per Share [Abstract]
Net Income Per Share	NET INCOME PER SHARE
	Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if unvested restricted shares and outstanding options to purchase common stock were exercised. Options to purchase approximately 0.5 million and 1.0 million shares of common stock that were outstanding for the quarters ended September 28, 2013 and September 29, 2012, respectively, have been excluded from the calculation of diluted income per share because inclusion of such shares would be anti-dilutive. Options to purchase approximately 0.5 million and 0.4 million shares of common stock that were outstanding for the first 39-weeks ended September 28, 2013 and September 29, 2012, respectively, have been excluded from the calculation of diluted income per share because inclusion of such shares would be anti-dilutive.
	The following is a reconciliation of the Company’s basic and diluted net income per share computations (shares in thousands):
		13 Weeks Ended
		September 28, 2013				September 29, 2012
		Shares	Net Income			Shares	Net Income
			Per Share				Per Share
	Basic	24,383	$	0.26		23,383	$	0.44
	Effect of dilutive stock options	258	—			430	(0.01		)
	Diluted	24,641	$	0.26		23,813	$	0.43
		39 Weeks Ended
		September 28, 2013				September 29, 2012
		Shares	Net Income			Shares	Net Income
			Per Share				Per Share
	Basic	24,193	$	0.81		23,215	$	1.15
	Effect of dilutive stock options	338	(0.01		)	491	(0.03		)
	Diluted	24,531	$	0.8		23,706	$	1.12

Stockholders_Equity_Stockholde

Stockholder's Equity Stockholder's Equity	9 Months Ended
	Sep. 28, 2013
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	STOCKHOLDERS' EQUITY
	Stock Repurchase Program
	On August 15, 2013, the Company entered into a written trading plan (the “10b5-1 Plan”) under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to facilitate the repurchase of its shares in accordance with the Company’s existing share repurchase authorization. As previously announced on March 15, 2013, the Company’s Board of Directors approved the repurchase by the Company of up to $10 million of its common stock through open market or privately negotiated transactions.
	The 10b5-1 Plan allowed the Company’s broker to repurchase common stock on the Company’s behalf pursuant to the terms and limitations specified in the Plan, including to the extent such purchases were permitted pursuant to Regulation M and Rule 10b-18 of the Exchange Act. The 10b5-1 Plan terminated in accordance with its terms on October 18, 2013, which is the time when the Company ordinarily would be prevented from repurchasing its stock under the Company's self-imposed blackout periods.
	As of September 28, 2013, the Company had repurchased 48,859 shares at an aggregate price of approximately $0.5 million and an average price per share of $11.21 under the repurchase plan.
	Preferred Stock
	As of September 28, 2013 and December 29, 2012, there were no shares of preferred stock outstanding.
	Common Stock
	The Company is authorized to issue up to 50,000,000 shares of common stock with a par value $0.001 per share.

Restructuring_Costs_Tables

Restructuring Costs (Tables)	9 Months Ended
	Sep. 28, 2013
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs [Table Text Block]	Costs and obligations (included in “Accrued liabilities” in the Company's condensed consolidated balance sheets) recorded in 2013, 2012 and 2011 in conjunction with the restructuring costs are as follows (in thousands):
		Termination			Store Lease			Total
		Benefits			Termination
		and Other			Costs
		Costs
	Ending balance, January 1, 2011	$	293		$	1,949		$	2,242
	Charges (reduction in charges)	19			(69		)	(50		)
	Payments	(152		)	(976		)	(1,128		)
	Ending balance, December 31, 2011	$	160		$	904		$	1,064
	Charges	8			91			99
	Payments	(10		)	(303		)	(313		)
	Ending balance, December 29, 2012	$	158		$	692		$	850
	Charges (reduction in charges)	(1		)	4			3
	Reclassification	(156		)	156			—
	Payments	(1		)	(131		)	(132		)
	Ending balance, September 28, 2013	$	—		$	721		$	721

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	9 Months Ended
	Sep. 28, 2013
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following is a reconciliation of the Company’s basic and diluted net income per share computations (shares in thousands):
		13 Weeks Ended
		September 28, 2013				September 29, 2012
		Shares	Net Income			Shares	Net Income
			Per Share				Per Share
	Basic	24,383	$	0.26		23,383	$	0.44
	Effect of dilutive stock options	258	—			430	(0.01		)
	Diluted	24,641	$	0.26		23,813	$	0.43
		39 Weeks Ended
		September 28, 2013				September 29, 2012
		Shares	Net Income			Shares	Net Income
			Per Share				Per Share
	Basic	24,193	$	0.81		23,215	$	1.15
	Effect of dilutive stock options	338	(0.01		)	491	(0.03		)
	Diluted	24,531	$	0.8		23,706	$	1.12

Basis_of_Presentation_Details

Basis of Presentation (Details) (USD $)	Sep. 28, 2013	Dec. 29, 2012	Sep. 29, 2012	Sep. 28, 2012	Dec. 31, 2011
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and Cash Equivalents, at Carrying Value	$69,935,000	$56,542,000	$68,283,000		$43,966,000
Purchase Agreement Price				$4,500,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Income Tax Expense (Benefit) [Abstract]
Effective Income Tax Rate, Continuing Operations	51.30%	39.40%	44.80%	40.00%
Income Tax Benefit	$6,677,000	$6,682,000	$15,956,000	$17,749,000
Deferred Tax Assets, Tax Credit Carryforwards	4,300,000		4,300,000
Valuation Allowance, Deferred Tax Asset, Change in Amount	2,400,000
Valuation Allowance, Amount	$1,500,000		$1,500,000
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance	11.80%		4.30%

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Tax benefit from share-based compensation [Line Items]
Share-based Compensation	$900,000	$800,000	$2,511,000	$2,372,000
Tax benefit from equity issuance	300,000		800,000	-400,000
Manager Share Appreciation Plan Compensation			100,000
Manager Share Appreciation Plan, Liabilities	100,000		100,000
Maximum [Member]
Tax benefit from share-based compensation [Line Items]
Tax benefit from equity issuance		100,000
Manager Share Appreciation Plan Compensation	100,000			100,000
Manager Share Appreciation Plan, Liabilities		$100,000		$100,000

Segment_Information_Details

Segment Information (Details)	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013
Segment Reporting Information [Line Items]
Number of reportable segments	1	3
Canada [Member]
Segment Reporting Information [Line Items]
Number of stores	10		10
Turkey [Member]
Segment Reporting Information [Line Items]
Number of stores	5		5
Maximum [Member]
Segment Reporting Information [Line Items]
Percentage of foreign revenue	5.00%	5.00%	5.00%
Percent of foreign long-lived assets	2.00%	2.00%	2.00%

Restructuring_Costs_Details

Restructuring Costs (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012	Dec. 29, 2012	Dec. 31, 2011	Jan. 01, 2011
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$721,000		$721,000		$850,000	$1,064,000	$2,242,000
Restructuring Charges	7,000	4,000	3,000	159,000	99,000	-50,000
Reclassification Wtihin a Liability Account			0
Payments for Restructuring			-132,000		-313,000	-1,128,000
Restructuring and Related Cost, Cost Incurred to Date			20,200,000
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve	0		0		158,000	160,000	293,000
Restructuring Charges			-1,000		8,000	19,000
Reclassification Wtihin a Liability Account			-156,000
Payments for Restructuring			-1,000		-10,000	-152,000
Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve	721,000		721,000		692,000	904,000	1,949,000
Restructuring Charges			4,000		91,000	-69,000
Reclassification Wtihin a Liability Account			156,000
Payments for Restructuring			($131,000)		($303,000)	($976,000)

Net_Income_Per_Share_Details

Net Income Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	502,704	1,047,143	502,704	414,007
Weighted Average Number of Shares Outstanding, Basic	24,383,000	23,383,000	24,193,000	23,215,000
Earnings Per Share, Basic	$0.26	$0.44	$0.81	$1.15
Weighted Average Number Diluted Shares Outstanding Adjustment	258,000	430,000	338,000	491,000
Dilutive Securities, Effect on Basic Earnings Per Share, Including Options and Restrictive Stock Units	$0	($0.01)	($0.01)	($0.03)
Weighted Average Number of Shares Outstanding, Diluted	24,641,000	23,813,000	24,531,000	23,706,000
Earnings Per Share, Diluted	$0.26	$0.43	$0.80	$1.12

Stockholders_Equity_Details

Stockholder's Equity (Details) (USD $)	9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Dec. 29, 2012
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$10,000,000
Stock Repurchased During Period, Shares	48,859
Stock Repurchased During Period, Value	$549,000	$0
Treasury Stock Acquired, Average Cost Per Share	$11.21
Preferred Stock, Shares Outstanding	0	0	0
Common Stock, Shares Authorized	-50,000,000	-50,000,000	-50,000,000
Common Stock, Par or Stated Value Per Share	($0.00)	($0.00)	($0.00)