Einstein Noah Restaurant (BAGL) 10-Q 1 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Oct. 01, 2013	Oct. 24, 2013
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	1-Oct-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'BAGL	'
Entity Registrant Name	'EINSTEIN NOAH RESTAURANT GROUP INC	'
Entity Central Index Key	'0000949373	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	17,573,536

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Oct. 01, 2013	Jan. 01, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$6,203	$17,432
Restricted cash	1,115	998
Accounts receivable, net of $106 and $125 of allowances	10,295	9,024
Inventories	5,527	5,382
Current deferred income tax assets, net	9,000	8,190
Prepaid expenses	7,599	7,059
Other current assets	673	661
Total current assets	40,412	48,746
Property, plant and equipment, net	61,747	63,013
Trademarks and other intangibles, net	64,138	64,260
Goodwill	10,775	10,775
Long-term deferred income tax assets, net	18,543	22,726
Other assets	4,172	4,093
Total assets	199,787	213,613
Current liabilities:	'	'
Accounts payable	12,872	10,243
Accrued expenses and other current liabilities	21,357	28,104
Current portion of long-term debt	5,000	5,000
Total current liabilities	39,229	43,347
Long-term debt	112,250	131,700
Other liabilities	12,585	11,059
Mandatorily redeemable, Series Z Preferred Stock, $.001 par value, $1,000 per share liquidation value; 57,000 shares authorized; 0 shares outstanding	'	'
Total liabilities	164,064	186,106
Commitments and contingencies (Note 11)	'	'
Stockholders' equity:	'	'
Series A junior participating preferred stock, 700,000 shares authorized; no shares issued and outstanding	'	'
Common stock, $.001 par value; 25,000,000 shares authorized; 17,077,472 and 17,553,661 shares issued and outstanding	18	17
Additional paid-in capital	283,013	277,951
Accumulated other comprehensive loss, net of income tax	-59	'
Accumulated deficit	-247,249	-250,461
Total stockholders' equity	35,723	27,507
Total liabilities and stockholders' equity	$199,787	$213,613

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Oct. 01, 2013	Jan. 01, 2013
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowances	$125	$106
Series Z preferred stock, par value	$0.00	$0.00
Series Z preferred stock, per share liquidation value	$1,000	$1,000
Series Z preferred stock, shares authorized	57,000	57,000
Series Z preferred stock, shares outstanding	0	0
Preferred stock, shares authorized	700,000	700,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	17,553,661	17,077,472
Common stock, shares outstanding	17,553,661	17,077,472

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Oct. 01, 2013	Oct. 02, 2012	Oct. 01, 2013	Oct. 02, 2012
Revenues:	'	'	'	'
Company-owned restaurant sales	$95,625	$95,418	$286,948	$285,264
Manufacturing and commissary revenues	7,914	7,507	24,804	23,196
Franchise and license related revenues	2,869	2,569	8,539	7,900
Total revenues	106,408	105,494	320,291	316,360
Company-owned restaurant costs	'	'	'	'
Cost of goods sold	26,723	26,668	80,442	80,032
Labor costs	27,711	27,842	84,915	82,854
Rent and related expenses	11,001	10,621	32,786	31,324
Other operating costs	11,156	10,637	31,861	30,128
Marketing costs	2,385	2,997	7,712	8,967
Total company-owned restaurant costs	78,976	78,765	237,716	233,305
Manufacturing and commissary costs	6,152	5,738	18,280	18,215
General and administrative expenses	9,758	9,085	30,143	30,194
Depreciation and amortization	4,420	5,014	13,974	14,792
Pre-opening expenses	343	250	957	404
Restructuring expenses	'	'	'	480
Strategic alternatives expense	'	250	'	685
Other operating expenses, net	249	60	519	319
Total costs and expenses	99,898	99,162	301,589	298,394
Income from operations	6,510	6,332	18,702	17,966
Interest expense, net	1,366	744	4,759	2,322
Income before income taxes	5,144	5,588	13,943	15,644
Provision for income taxes	1,124	2,174	4,230	6,070
Net income	4,020	3,414	9,713	9,574
Unrealized losses on derivatives, net of tax	-28	'	-59	-3
Comprehensive income	$3,992	$3,414	$9,654	$9,571
Net income per share:	'	'	'	'
Basic	$0.23	$0.20	$0.56	$0.57
Diluted	$0.22	$0.20	$0.55	$0.56
Cash dividend declared per common share	$0.13	$0.13	$0.38	$0.38
Weighted average number of common shares outstanding:	'	'	'	'
Basic	17,451,544	16,961,298	17,306,647	16,915,756
Diluted	17,936,939	17,292,305	17,738,760	17,200,034

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Oct. 01, 2013	Oct. 02, 2012
OPERATING ACTIVITIES:	'	'
Net income	$9,713	$9,574
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	13,974	14,792
Deferred income tax expense	3,406	4,663
Stock-based compensation expense	1,352	1,838
Loss on disposal of assets	944	204
Gains on refranchising of restaurants	-1,074	'
Provision for losses on accounts receivable	70	60
Amortization of debt issuance and debt discount costs	445	335
Changes in operating assets and liabilities, net of acquisitions:	'	'
Restricted cash	-117	-35
Accounts receivable	-1,341	-2,099
Accounts payable and accrued expenses	-4,695	3,137
Other assets and liabilities	906	-1,093
Net cash provided by operating activities	23,583	31,376
INVESTING ACTIVITIES:	'	'
Purchase of property and equipment	-13,380	-14,638
Proceeds from the sale and disposal of property and equipment	9	332
Proceeds from refranchising of restaurants	1,819	'
Acquisition of restaurant assets, net of cash acquired	'	-1,864
Net cash used in investing activities	-11,552	-16,170
FINANCING ACTIVITIES:	'	'
Proceeds from line of credit	4,000	'
Repayments on line of credit	-19,700	'
Term loan repayments	-3,750	-5,625
Debt issuance costs	-631	'
Dividends paid	-6,871	-6,326
Proceeds upon stock option exercises	3,711	777
Payments under capital lease obligations	-19	-16
Net cash used in financing activities	-23,260	-11,190
Net increase (decrease) in cash and cash equivalents	-11,229	4,016
Cash and cash equivalents, beginning of period	17,432	8,652
Cash and cash equivalents, end of period	$6,203	$12,668

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Oct. 01, 2013
Basis of Presentation	'
	1	Basis of Presentation
	The accompanying consolidated balance sheet as of January 1, 2013, which has been derived from audited financial statements, and the unaudited consolidated financial statements of Einstein Noah Restaurant Group, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) as of and for the thirteen and thirty-nine weeks ended October 1, 2013 have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The information furnished within this Form 10-Q reflects all adjustments (consisting only of normal recurring accruals and adjustments), which are, in the Company’s opinion, necessary to fairly state the interim operating results for the respective periods.
	As of October 1, 2013, the Company operated, franchised or licensed various restaurant concepts under the brand names of Einstein Bros. Bagels (“Einstein Bros.”), Noah’s New York Bagels (“Noah’s”) and Manhattan Bagel Company (“Manhattan Bagel”).
	Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the United States have been omitted pursuant to SEC rules and regulations. The notes to the consolidated financial statements (unaudited) should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s annual report on Form 10-K for the fiscal year ended January 1, 2013. The Company believes that the disclosures are sufficient for interim financial reporting purposes. However, these operating results are not necessarily indicative of the results expected for the full fiscal year.
	For the fiscal quarter and year to date periods ended October 2, 2012, the Company reclassed company-owned pre-opening costs to a separate line item on the consolidated statements of income and comprehensive income. Consolidated and segment level revenues, income from operations and net income were not impacted. The following tables summarize the reclassifications that were made:
			As Previously		Reclassification			As Adjusted
			Reported
					(in thousands)
	Fiscal quarter ended October 2, 2012:
	Cost of sales (exclusive of depreciation and amortization shown separately below):
	Company-owned restaurant costs
	Cost of goods sold		$	26,676	$	(8	)	$	26,668
	Labor costs			27,906		(64	)		27,842
	Rent and related expenses			10,761		(140	)		10,621
	Other operating costs			10,649		(12	)		10,637
	Marketing costs			3,017		(20	)		2,997
	Total company-owned restaurant costs		$	79,009	$	(244	)	$	78,765
	General and administrative expenses		$	9,091	$	(6	)	$	9,085
	Pre-opening expenses		$	—	$	250		$	250
			As Previously		Reclassification			As Adjusted
			Reported
			(in thousands)
	Fiscal year to date ended October 2, 2012:
	Cost of sales (exclusive of depreciation and amortization shown separately below):
	Company-owned restaurant costs
	Cost of goods sold		$	80,048	$	(16	)	$	80,032
	Labor costs			82,982		(128	)		82,854
	Rent and related expenses			31,508		(184	)		31,324
	Other operating costs			30,152		(24	)		30,128
	Marketing costs			9,007		(40	)		8,967
	Total company-owned restaurant costs		$	233,697	$	(392	)	$	233,305
	General and administrative expenses		$	30,206	$	(12	)	$	30,194
	Pre-opening expenses		$	—	$	404		$	404

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	9 Months Ended
	Oct. 01, 2013
Recent Accounting Pronouncements	'
	2	Recent Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued guidance requiring an entity to disclose additional information about reclassifications out of accumulated other comprehensive income, including (1) changes in accumulated other comprehensive income balances by component and (2) significant items reclassified out of accumulated other comprehensive income and the effect on the respective line items in net income if the amounts are required to be reclassified in their entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference to other disclosures that provide additional detail about those amounts. The new guidance is effective prospectively for fiscal years beginning after December 15, 2012. The adoption of these disclosure requirements did not have a material impact on the Company’s consolidated financial statements.
	In July 2013, the FASB issued guidance permitting companies to use the Federal Funds Effective Swap Rate (or Overnight Index Swap Rate) as a U.S. benchmark interest rate for hedge accounting purposes. The guidance also removes the restriction on using different benchmark rates for similar hedges. The guidance is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this guidance did not have any effect on the Company’s consolidated financial statements.
	In July 2013, the FASB issued guidance requiring an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows: to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The new guidance is effective for fiscal years beginning after December 15, 2013, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this statement on the Company’s consolidated financial statements.

Inventories

Inventories	9 Months Ended
	Oct. 01, 2013
Inventories	'
	3	Inventories
	Inventories, which consist of food, beverage, paper supplies and bagel ingredients, are stated at the lower of cost or market. Cost is determined by the first-in, first-out method. Inventories consist of the following:
			January 1,		October 2,
			2013		2013
			(in thousands)
	Finished goods		$	4,427	$	4,667
	Raw materials			955		860
	Total inventories		$	5,382	$	5,527

LongTerm_Debt

Long-Term Debt	9 Months Ended
	Oct. 01, 2013
Long-Term Debt	'
	4	Long-Term Debt
	On June 27, 2013, the Company’s senior credit facility was amended. The amendment decreased the applicable margin on Eurodollar loans and for base rate loans. Subsequent to the amendment, the applicable margin for Eurodollar rate loans ranges from 1.75% to 3.25% (previously 2.5% to 4.0%) and the applicable margin for base rate loans ranges from 0.75% to 2.25% (previously 1.5% to 3.0%). As of October 1, 2013, the Company’s weighted average interest rate was 3.6%. The amendment also extended the maturity date of the senior credit facility from December 6, 2017 to June 6, 2018. In connection with the amendment, the Company capitalized an additional $0.6 million of debt issuance costs.
	On March 4, 2013, the Company entered into an interest rate swap agreement (the “Swap”) relating to its senior credit facility for two years, effective March 7, 2013. The Company will be required to make payments based on a fixed interest rate of 0.395% calculated on an initial notional amount of $50.0 million. In exchange, the Company will receive interest on $50.0 million notional amount at a variable rate. The variable rate interest the Company will receive is based on the one-month London InterBank Offered Rate. The net effect of the Swap will be to fix the interest rate on $50.0 million of the Company’s Term Loan at 0.395% plus an applicable margin (as defined by the senior credit facility).
	The Company has determined that the Swap qualifies as a cash flow hedge. Using quoted prices based on observable inputs (a Level 2 fair value measurement), the Company has recorded a liability for the Swap of $92,000 ($59,000 net of taxes) as of October 1, 2013. The fair value of the Swap will be adjusted regularly, with a corresponding adjustment to other comprehensive income within equity.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 01, 2013
Stock-Based Compensation	'
	5	Stock-Based Compensation
	As of October 1, 2013, the Company had three active stock-based compensation plans: the 2011 Omnibus Incentive Plan (the “Omnibus Plan”), the Equity Plan for Non-Employee Directors (the “Equity Plan”) and the Stock Appreciation Rights Plan (the “SARs Plan”). Outstanding awards previously issued under inactive or suspended plans will continue to vest and remain exercisable in accordance with the terms of the respective plans. As of October 1, 2013, there were 262,396 shares, 103,224 shares and 123,102 shares reserved for future issuance under the Omnibus Plan, Equity Plan and SARs Plan, respectively.
	The Company’s stock-based compensation cost for the thirteen weeks ended October 2, 2012 and October 1, 2013 was approximately $0.6 million and $0.3 million, respectively. The Company’s stock-based compensation cost for the thirty-nine weeks ended October 2, 2012 and October 1, 2013 was $1.8 million and $1.4 million, respectively. These costs are included in general and administrative expenses. Compensation cost for stock options and stock appreciation rights (“SARs”) granted is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant, using the following assumptions:
			13 weeks ended *		39 weeks ended
			October 1,		October 2,	October 1,
			2013		2012	2013
	Expected life of options and SARs from date of grant		3.25 years		2.75 - 6.0 years	3.25 - 6.0 years
	Risk-free interest rate		0.64%		0.36% - 1.16%	0.34% - 1.46%
	Volatility		30%		41% - 42%	30% - 32%
	Assumed dividend yield		2.85%		2.83% - 3.36%	2.85% - 3.48%
		*	The Company did not grant any awards during the thirteen weeks ended October 2, 2012
	Stock Option and SARs Activity
	As a result of the Company paying a special cash dividend of $4.00 per share on December 27, 2012 to common stockholders of record on December 17, 2012, the Company reduced the exercise price of all stock options and SARs outstanding on January 8, 2013 by a factor of 1.3 and increased the number of stock options and SARs outstanding by an equivalent factor of 1.3. This adjustment, which was based on the closing price of the Company’s stock on the day before and the day after December 27, 2012, was the result of the anti-dilution provisions in the Company’s Omnibus Plan and the Company’s SARs Plan and did not result in any additional compensation expense.
	Stock option and SARs transactions under all plans during the thirty-nine weeks ended October 1, 2013 were as follows:
			Number of			Weighted		Weighted Average
			Options			Average		Remaining Life
			and SARs			Exercise Price		(Years)
	Outstanding, January 1, 2013			1,135,209		$	13.05
	January 8, 2013 conversion			x 1.3			÷ 1.3
	Outstanding, January 8, 2013			1,475,772		$	10.04
	Granted			319,200			13.49
	Exercised			(451,001	)		9.38
	Forfeited/Cancelled			(116,520	)		12.98
	Expired			(1,980	)		8.9
	Outstanding, October 1, 2013			1,225,471		$	11.04		6.79
	Exercisable and vested, October 1, 2013			656,776		$	9.75		5.42
	The aggregate intrinsic value of stock options exercised during the thirty-nine weeks ended October 1, 2013 was $2.7 million.
	As of October 1, 2013, the Company had approximately $0.8 million of total unrecognized compensation cost related to awards granted under its plans, which will be recognized over a weighted average period of 1.36 years.
	Restricted Stock Units
	Stock-based compensation cost for restricted stock units (“RSUs”) is measured based on the closing fair market value of the Company’s common stock on the date of grant. Transactions during the thirty-nine weeks ended October 1, 2013 were as follows:
			Number			Weighted Average
			of			Grant Date		Aggregate
			Shares			Fair Value		Intrinsic Value
	Non-vested rights, January 2, 2013			140,785		$	14.63
	Granted			83,550			13.37
	Vested			(50,699	)		15.04
	Forfeited			(31,614	)		14.28
	Non-vested rights, October 1, 2013			142,022		$	13.82	$	2,488,225
	As of October 1, 2013, the Company had approximately $0.9 million of total unrecognized compensation cost related to RSUs, which will be recognized over a weighted average period of 1.37 years.

Other_Operating_Expenses_Net

Other Operating Expenses, Net	9 Months Ended
	Oct. 01, 2013
Other Operating Expenses, Net	'
	6	Other operating expenses, net
	Other operating expenses, net consist of the following:
			13 weeks ended				39 weeks ended
			October 2,		October 1,		October 2,		October 1,
			2012		2013		2012		2013
			(in thousands)
	Gain (net) on refranchising of restaurants		$	—	$	7	$	—	$	(1,074	)
	Losses on Company-owned restaurant closures			—		152		—		1,248
	Losses on ordinary fixed asset dispositions and other			60		90		319		345
	Other operating expenses, net		$	60	$	249	$	319	$	519
	Gains on refranchising of restaurants
	On April 3, 2013, the Company sold five company-owned restaurants in the Pittsburgh, Pennsylvania market to an existing franchisee for $1.8 million. The assets sold had a net book value of $0.2 million and the Company incurred additional costs of $0.1 million associated with this transaction which resulted in a total gain of $1.5 million. Of the $1.5 million gain, $0.4 million has been deferred as it is contingent upon the successful renegotiation of a lease. This deferred gain is recorded as a component of accrued expenses and other current liabilities on the October 1, 2013 consolidated balance sheet.

Income_Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2013
Income Taxes	'
	7	Income Taxes
	The Company currently estimates its projected fiscal 2013 annual effective tax rate to be 38.6% (before discrete items), which compares to a fiscal 2012 annual effective tax rate of 38.9%. As a result of deferred tax true-ups, as well as the effects of estimate-to-actual income tax provision adjustments and federal employment tax credits, the effective tax rates for the thirteen weeks and thirty-nine weeks ended October 1, 2013 were reduced to 21.9% and 30.3%, respectively.

Net_Income_Per_Share

Net Income Per Share	9 Months Ended
	Oct. 01, 2013
Net Income Per Share	'
	8	Net Income Per Share
	The following table sets forth the computation of weighted average shares outstanding:
			13 weeks ended				39 weeks ended
			October 2,		October 1,		October 2,		October 1,
			2012		2013		2012		2013
	Basic weighted average shares outstanding			16,961,298		17,451,544		16,915,756		17,306,647
	Dilutive effect of stock options, SARs and RSUs			331,007		485,395		284,278		432,113
	Diluted weighted average shares outstanding			17,292,305		17,936,939		17,200,034		17,738,760
	Anti-dilutive stock options, SARs and RSUs			303,254		53,929		613,821		221,592
	Diluted net income per common share is computed by dividing the net income available to common stockholders for the period by the weighted average number of shares of common stock and potential common stock equivalents outstanding during the period using the treasury stock method. Potential common stock equivalents include incremental shares of common stock issuable upon the exercise of stock options, SARs and RSUs. Potential common stock equivalents are excluded from the computation of diluted net income per share when their effect is anti-dilutive.

Dividends

Dividends	9 Months Ended
	Oct. 01, 2013
Dividends	'
	9	Dividends
	Our Board of Directors declared the following dividends during the periods presented:
				Dividend		Total Amount
	Date Declared		Record Date	Per Share		(in thousands)		Payment Date
	2012:00:00
	18-Jan-12		March 1, 2012	$	0.125	$	2,106	15-Apr-12
	1-May-12		1-Jun-12	$	0.125	$	2,120	15-Jul-12
	30-Jul-12		September 1, 2012	$	0.125	$	2,120	October 15, 2012
	2013:00:00
	30-Jan-13		1-Mar-13	$	0.125	$	2,138	15-Apr-13
	30-Apr-13		3-Jun-13	$	0.125	$	2,168	15-Jul-13
	30-Jul-13		3-Sep-13	$	0.125	$	2,188	15-Oct-13
	The estimate of the amount to be paid on the October 15, 2013 payment date is included in accrued expenses and other current liabilities on the consolidated balance sheet as of October 1, 2013.

Related_Party_Developments

Related Party Developments	9 Months Ended
	Oct. 01, 2013
Related Party Developments	'
	10	Related Party Developments
	In August 2013, Greenlight Capital, L.L.C and its affiliates (“Greenlight”) sold 1.5 million shares of the Company’s common stock in a secondary offering, thereby reducing its beneficial ownership of the Company to 53%. The Company did not receive any proceeds from the sale of shares and all costs associated with the transaction were charged to Greenlight.

Commitments_Contingencies_and_

Commitments, Contingencies and Other Developments	9 Months Ended
	Oct. 01, 2013
Commitments, Contingencies and Other Developments	'
	11	Commitments, Contingencies and Other Developments
	Letters of Credit and Line of Credit
	As of October 1, 2013, the Company had $6.7 million in letters of credit outstanding which reduces the letter of credit availability under its revolving facility to $13.3 million. The letters of credit expire on various dates, typically renew annually and are payable upon demand in the event that the Company fails to pay the underlying obligations.
	As of October 1, 2013, the Company had an outstanding balance of $21.0 million on its $75.0 million revolving facility. The availability under the revolving facility was $47.3 million as of October 1, 2013.
	Litigation
	The Company is subject to claims and legal actions in the ordinary course of business, including claims by or against its franchisees, licensees and employees or former employees and others. The Company does not believe any currently pending or threatened matter would have a material adverse effect on its business, results of operations or financial condition.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	9 Months Ended
	Oct. 01, 2013
Supplemental Cash Flow Information	'
	12	Supplemental Cash Flow Information
			39 weeks ended
			October 2,			October 1,
			2012			2013
			(in thousands)
	Cash paid during the year to date period ended:
	Interest related to:
	Term loans and revolving credit facility		$	1,780		$	4,008
	Miscellaneous bank charges			281			347
	Income taxes		$	646		$	284
	Non-cash investing activities:
	Non-cash purchase of equipment through capital leasing		$	9		$	—
	Change in accrued expenses for purchases of property and equipment		$	(77	)	$	464

Subsequent_Events

Subsequent Events	9 Months Ended
	Oct. 01, 2013
Subsequent Events	'
	13	Subsequent Events
	On October 2, 2013, the Company acquired three restaurants from an existing franchisee for approximately $0.9 million.
	On October 29, 2013, the Company’s Board of Directors declared a cash dividend on the Company’s common stock in the amount of $0.13 per share, payable on January 15, 2014 to shareholders of record on December 2, 2013.

Basis_of_Presentation_Tables

Basis of Presentation (Tables)	9 Months Ended
	Oct. 01, 2013
Summary of Reclassifications of Costs	'
	The following tables summarize the reclassifications that were made:
		As Previously		Reclassification			As Adjusted
		Reported
				(in thousands)
	Fiscal quarter ended October 2, 2012:
	Cost of sales (exclusive of depreciation and amortization shown separately below):
	Company-owned restaurant costs
	Cost of goods sold	$	26,676	$	(8	)	$	26,668
	Labor costs		27,906		(64	)		27,842
	Rent and related expenses		10,761		(140	)		10,621
	Other operating costs		10,649		(12	)		10,637
	Marketing costs		3,017		(20	)		2,997
	Total company-owned restaurant costs	$	79,009	$	(244	)	$	78,765
	General and administrative expenses	$	9,091	$	(6	)	$	9,085
	Pre-opening expenses	$	—	$	250		$	250
		As Previously		Reclassification			As Adjusted
		Reported
		(in thousands)
	Fiscal year to date ended October 2, 2012:
	Cost of sales (exclusive of depreciation and amortization shown separately below):
	Company-owned restaurant costs
	Cost of goods sold	$	80,048	$	(16	)	$	80,032
	Labor costs		82,982		(128	)		82,854
	Rent and related expenses		31,508		(184	)		31,324
	Other operating costs		30,152		(24	)		30,128
	Marketing costs		9,007		(40	)		8,967
	Total company-owned restaurant costs	$	233,697	$	(392	)	$	233,305
	General and administrative expenses	$	30,206	$	(12	)	$	30,194
	Pre-opening expenses	$	—	$	404		$	404

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Oct. 01, 2013
Components of Inventories	'
	Inventories consist of the following:
		January 1,		October 2,
		2013		2013
		(in thousands)
	Finished goods	$	4,427	$	4,667
	Raw materials		955		860
	Total inventories	$	5,382	$	5,527

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 01, 2013
Fair Value of Stock Option Assumptions Using Black Scholes Option Pricing Model	'
	Compensation cost for stock options and stock appreciation rights (“SARs”) granted is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant, using the following assumptions:
			13 weeks ended *		39 weeks ended
			October 1,		October 2,	October 1,
			2013		2012	2013
	Expected life of options and SARs from date of grant		3.25 years		2.75 - 6.0 years	3.25 - 6.0 years
	Risk-free interest rate		0.64%		0.36% - 1.16%	0.34% - 1.46%
	Volatility		30%		41% - 42%	30% - 32%
	Assumed dividend yield		2.85%		2.83% - 3.36%	2.85% - 3.48%
		*	The Company did not grant any awards during the thirteen weeks ended October 2, 2012
Changes in Outstanding Stock Options and Stock Appreciation Rights	'
	Stock option and SARs transactions under all plans during the thirty-nine weeks ended October 1, 2013 were as follows:
			Number of			Weighted		Weighted Average
			Options			Average		Remaining Life
			and SARs			Exercise Price		(Years)
	Outstanding, January 1, 2013			1,135,209		$	13.05
	January 8, 2013 conversion			x 1.3			÷ 1.3
	Outstanding, January 8, 2013			1,475,772		$	10.04
	Granted			319,200			13.49
	Exercised			(451,001	)		9.38
	Forfeited/Cancelled			(116,520	)		12.98
	Expired			(1,980	)		8.9
	Outstanding, October 1, 2013			1,225,471		$	11.04		6.79
	Exercisable and vested, October 1, 2013			656,776		$	9.75		5.42
Restricted Stock Unit Activity	'
	Transactions during the thirty-nine weeks ended October 1, 2013 were as follows:
			Number			Weighted Average
			of			Grant Date		Aggregate
			Shares			Fair Value		Intrinsic Value
	Non-vested rights, January 2, 2013			140,785		$	14.63
	Granted			83,550			13.37
	Vested			(50,699	)		15.04
	Forfeited			(31,614	)		14.28
	Non-vested rights, October 1, 2013			142,022		$	13.82	$	2,488,225

Other_Operating_Expenses_Net_T

Other Operating Expenses, Net (Tables)	9 Months Ended
	Oct. 01, 2013
Other Operating Expenses	'
	Other operating expenses, net consist of the following:
		13 weeks ended				39 weeks ended
		October 2,		October 1,		October 2,		October 1,
		2012		2013		2012		2013
		(in thousands)
	Gain (net) on refranchising of restaurants	$	—	$	7	$	—	$	(1,074	)
	Losses on Company-owned restaurant closures		—		152		—		1,248
	Losses on ordinary fixed asset dispositions and other		60		90		319		345
	Other operating expenses, net	$	60	$	249	$	319	$	519

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	9 Months Ended
	Oct. 01, 2013
Computation of Weighted Average Shares Outstanding	'
	The following table sets forth the computation of weighted average shares outstanding:
		13 weeks ended				39 weeks ended
		October 2,		October 1,		October 2,		October 1,
		2012		2013		2012		2013
	Basic weighted average shares outstanding		16,961,298		17,451,544		16,915,756		17,306,647
	Dilutive effect of stock options, SARs and RSUs		331,007		485,395		284,278		432,113
	Diluted weighted average shares outstanding		17,292,305		17,936,939		17,200,034		17,738,760
	Anti-dilutive stock options, SARs and RSUs		303,254		53,929		613,821		221,592

Dividends_Tables

Dividends (Tables)	9 Months Ended
	Oct. 01, 2013
Dividends Declared	'
	Our Board of Directors declared the following dividends during the periods presented:
			Dividend		Total Amount
	Date Declared	Record Date	Per Share		(in thousands)		Payment Date
	2012:00:00
	18-Jan-12	March 1, 2012	$	0.125	$	2,106	15-Apr-12
	1-May-12	1-Jun-12	$	0.125	$	2,120	15-Jul-12
	30-Jul-12	September 1, 2012	$	0.125	$	2,120	October 15, 2012
	2013:00:00
	30-Jan-13	1-Mar-13	$	0.125	$	2,138	15-Apr-13
	30-Apr-13	3-Jun-13	$	0.125	$	2,168	15-Jul-13
	30-Jul-13	3-Sep-13	$	0.125	$	2,188	15-Oct-13

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Oct. 01, 2013
Supplemental Cash Flow Information	'
		39 weeks ended
		October 2,			October 1,
		2012			2013
		(in thousands)
	Cash paid during the year to date period ended:
	Interest related to:
	Term loans and revolving credit facility	$	1,780		$	4,008
	Miscellaneous bank charges		281			347
	Income taxes	$	646		$	284
	Non-cash investing activities:
	Non-cash purchase of equipment through capital leasing	$	9		$	—
	Change in accrued expenses for purchases of property and equipment	$	(77	)	$	464

Summary_of_Reclassifications_M

Summary of Reclassifications Made (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Oct. 01, 2013	Oct. 02, 2012	Oct. 01, 2013	Oct. 02, 2012
Cost of goods sold	$26,723	$26,668	$80,442	$80,032
Labor costs	27,711	27,842	84,915	82,854
Rent and related expenses	11,001	10,621	32,786	31,324
Other operating costs	11,156	10,637	31,861	30,128
Marketing costs	2,385	2,997	7,712	8,967
Total company-owned restaurant costs	78,976	78,765	237,716	233,305
General and administrative expenses	9,758	9,085	30,143	30,194
Pre-opening expenses	343	250	957	404
As Previously Reported	'	'	'	'
Cost of goods sold	'	26,676	'	80,048
Labor costs	'	27,906	'	82,982
Rent and related expenses	'	10,761	'	31,508
Other operating costs	'	10,649	'	30,152
Marketing costs	'	3,017	'	9,007
Total company-owned restaurant costs	'	79,009	'	233,697
General and administrative expenses	'	9,091	'	30,206
Reclassification	'	'	'	'
Cost of goods sold	'	-8	'	-16
Labor costs	'	-64	'	-128
Rent and related expenses	'	-140	'	-184
Other operating costs	'	-12	'	-24
Marketing costs	'	-20	'	-40
Total company-owned restaurant costs	'	-244	'	-392
General and administrative expenses	'	-6	'	-12
Pre-opening expenses	'	$250	'	$404

Components_of_Inventories_Deta

Components of Inventories (Detail) (USD $)	Oct. 01, 2013	Jan. 01, 2013
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Finished goods	$4,667	$4,427
Raw materials	860	955
Total inventories	$5,527	$5,382

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Detail) (USD $)

1 Months Ended

1 Months Ended

9 Months Ended

Mar. 04, 2013

Oct. 01, 2013

Jun. 27, 2013

Jun. 27, 2013

Jun. 27, 2013

Jun. 27, 2013

Jun. 27, 2013

Jun. 27, 2013

Jun. 27, 2013

Jun. 27, 2013

Oct. 01, 2013

Oct. 01, 2013

Cash Flow Hedge

Cash Flow Hedge

Euro Dollar Rate

Euro Dollar Rate

Euro Dollar Rate

Euro Dollar Rate

Base Rate

Base Rate

Base Rate

Base Rate

Senior Credit Facility

Senior Credit Facility

Fair Value, Inputs, Level 2

Minimum

Maximum

After Amendment

After Amendment

Minimum

Maximum

After Amendment

After Amendment

After Amendment

Minimum

Maximum

Minimum

Maximum

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Variable interest rate

'

'

2.50%

4.00%

1.75%

3.25%

1.50%

3.00%

0.75%

2.25%

'

'

Weighted average interest rate

'

'

'

'

'

'

'

'

'

'

3.60%

'

Senior credit facility maturity date

'

'

'

'

'

'

'

'

'

'

6-Dec-17

6-Jun-18

Debt issuance costs capitalized

'

'

'

'

'

'

'

'

'

'

$600,000

'

Interest rate swap agreement period

'2 years

'

'

'

'

'

'

'

'

'

'

'

Fixed interest rate on notional amount

0.40%

'

'

'

'

'

'

'

'

'

'

'

Initial notional amount

50,000,000

'

'

'

'

'

'

'

'

'

'

'

Interest rate swap liability

'

92,000

'

'

'

'

'

'

'

'

'

'

Interest rate swap liability, net of tax carrying amount

'

$59,000

'

'

'

'

'

'

'

'

'

'

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)

1 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

9 Months Ended

In Millions, except Share data, unless otherwise specified

Dec. 27, 2012

Oct. 01, 2013

Oct. 02, 2012

Oct. 01, 2013

Oct. 02, 2012

Jan. 08, 2013

Oct. 01, 2013

Oct. 01, 2013

Oct. 01, 2013

Oct. 01, 2013

Oct. 01, 2013

Oct. 01, 2013

CompensationPlan

CompensationPlan

Restatement Adjustment

Restatement Adjustment

Stock Appreciation Rights (SARs)

Stock Option And Stock Appreciation Rights

Restricted Stock Units (RSUs)

Omnibus Plan

Equity Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Number of stock based compensation plans

'

3

'

3

'

'

'

'

'

'

'

'

Shares reserved for future issuance

'

'

'

'

'

'

'

123,102

'

'

262,396

103,224

Stock based compensation expense

'

$0.30

$0.60

$1.40

$1.80

'

'

'

'

'

'

'

Special cash dividend per share paid on common stock

$4

'

'

'

'

'

'

'

'

'

'

'

Conversion factor to reduce exercise price of stock options and SARs outstanding

'

'

'

'

'

1.3

'

'

'

'

'

'

Conversion factor to increase number of stock options and SARs outstanding

'

'

'

'

'

1.3

'

'

'

'

'

'

Aggregate intrinsic value of stock options exercised

'

'

'

2.7

'

'

'

'

'

'

'

'

Total unrecognized compensation cost

'

'

'

'

'

'

'

'

$0.80

$0.90

'

'

Period for recognition

'

'

'

'

'

'

'

'

'1 year 4 months 10 days

'1 year 4 months 13 days

'

'

Fair_Value_of_Stock_Option_Ass

Fair Value of Stock Option Assumptions Using Black Scholes Option Pricing Model (Detail)	3 Months Ended		9 Months Ended
	Oct. 01, 2013		Oct. 01, 2013	Oct. 02, 2012	Oct. 01, 2013	Oct. 02, 2012
			Minimum	Minimum	Maximum	Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'		'	'	'	'
Expected life of options and SARs from date of grant	'3 years 3 months	[1]	'3 years 3 months	'2 years 9 months	'6 years	'6 years
Risk-free interest rate	0.64%	[1]	0.34%	0.36%	1.46%	1.16%
Volatility	30.00%	[1]	30.00%	41.00%	32.00%	42.00%
Assumed dividend yield	2.85%	[1]	2.85%	2.83%	3.48%	3.36%
[1]	The Company did not grant any awards during the thirteen weeks ended October 2, 2012

Changes_in_Outstanding_Stock_O

Changes in Outstanding Stock Options and Stock Appreciation Rights (Detail) (USD $)	9 Months Ended		1 Months Ended	9 Months Ended
	Oct. 01, 2013	Jan. 01, 2013	Jan. 08, 2013	Oct. 01, 2013
		As Previously Reported	Restatement Adjustment	Restatement Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Conversion factor to reduce exercise price of stock options and SARs outstanding	'	'	1.3	'
Outstanding, Number of Options and SARs, Beginning Balance	1,475,772	1,135,209	'	'
Granted, Number of Options and SARs	319,200	'	'	'
Exercised, Number of Options and SARs	-451,001	'	'	'
Forfeited/Cancelled, Number of Options and SARs	-116,520	'	'	'
Expired, Number of Options and SARs	-1,980	'	'	'
Outstanding, Number of Options and SARs, Ending Balance	1,225,471	1,135,209	'	'
Exercisable and Vested, Number of Options and SARs	656,776	'	'	'
Conversion factor to reduce exercise price of stock options and SARs outstanding	'	'	1.3	'
Outstanding, Weighted-Average Exercise Price, Beginning balance	$10.04	$13.05	'	'
Granted, Weighted Average Exercise Price	$13.49	'	'	'
Exercised, Weighted-Average Exercise Price	$9.38	'	'	'
Forfeited/Cancelled, Weighted-Average Exercise Price	$12.98	'	'	'
Expired, Weighted-Average Exercise Price	$8.90	'	'	'
Outstanding, Weighted-Average Exercise Price, Ending Balance	$11.04	$13.05	'	'
Exercisable and Vested, Weighted-Average Exercise Price	$9.75	'	'	'
Outstanding, Weighted Average Remaining Life (Years)	'6 years 9 months 15 days	'	'	'
Exercisable and Vested, Weighted Average Remaining Life (Years)	'5 years 5 months 1 day	'	'	'

Restricted_Stock_Unit_Activity

Restricted Stock Unit Activity (Detail) (Restricted Stock Units (RSUs), USD $)	9 Months Ended
	Oct. 01, 2013
Restricted Stock Units (RSUs)	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Non vested rights, Number of Shares, beginning balance	140,785
Granted, Number of Shares	83,550
Vested, Number of Shares	-50,699
Forfeited, Number of Shares	-31,614
Non vested rights, Number of Shares, ending balance	142,022
Non vested rights, Weighted Average Grant Date Fair Value, beginning balance	$14.63
Granted, Weighted- Average Grant Date Fair Value	$13.37
Vested, Weighted- Average Grant Date Fair Value	$15.04
Forfeited, Weighted- Average Grant Date Fair Value	$14.28
Non vested rights, Weighted Average Grant Date Fair Value, ending balance	$13.82
Non-vested rights, Aggregate Intrinsic Value	$2,488,225

Other_Operating_Expenses_Detai

Other Operating Expenses (Detail) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2013	Oct. 01, 2013	Oct. 02, 2012	Oct. 01, 2013	Oct. 02, 2012
Component Of Other Expense Income Nonoperating [Line Items]	'	'	'	'	'
Gain (net) on refranchising of restaurants	'	$7	'	($1,074)	'
Losses on Company-owned restaurant closures	-1,500	152	'	1,248	'
Losses on ordinary fixed asset dispositions and other	'	90	60	345	319
Other operating expenses, net	'	$249	$60	$519	$319

Other_Operating_Expenses_Net_A

Other Operating Expenses Net - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 30, 2013	Oct. 01, 2013	Oct. 01, 2013
	Restaurant
Components of Other Income (Expense) [Line Items]	'	'	'
Number of company-owned restaurants sold	5	'	'
Date restaurants were sold	3-Apr-13	'	'
Sale price of company-owned restaurants	$1,800,000	'	$1,819,000
Net book value of sold assets	200,000	'	'
Additional cost related to sale	100,000	'	'
Total gain on sale of restaurants	1,500,000	-152,000	-1,248,000
Deferred gain due to contingent lease renegotiation	$400,000	'	'

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail)	9 Months Ended	12 Months Ended	3 Months Ended	9 Months Ended
	Oct. 01, 2013	Jan. 03, 2012	Oct. 01, 2013	Oct. 01, 2013
			Tax Adjustments	Tax Adjustments
Income Taxes [Line Items]	'	'	'	'
Estimated annual effective tax rate	38.60%	38.90%	21.90%	30.30%

Computation_of_Weighted_Averag

Computation of Weighted Average Shares Outstanding (Detail)	3 Months Ended		9 Months Ended
	Oct. 01, 2013	Oct. 02, 2012	Oct. 01, 2013	Oct. 02, 2012
Weighted Average Number of Shares Outstanding [Line Items]	'	'	'	'
Basic weighted average shares outstanding	17,451,544	16,961,298	17,306,647	16,915,756
Dilutive effect of stock options, SARs and RSUs	485,395	331,007	432,113	284,278
Diluted weighted average shares outstanding	17,936,939	17,292,305	17,738,760	17,200,034
Anti-dilutive stock options, SARs and RSUs	53,929	303,254	221,592	613,821

Dividends_Declared_Detail

Dividends Declared (Detail) (USD $)	3 Months Ended		6 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 02, 2013	Apr. 03, 2012	Jul. 02, 2013	Jul. 03, 2012	Oct. 01, 2013	Oct. 02, 2012
Dividends Payable [Line Items]	'	'	'	'	'	'
Date Declared	30-Jan-13	18-Jan-12	30-Apr-13	1-May-12	30-Jul-13	30-Jul-12
Record Date	1-Mar-13	1-Mar-12	3-Jun-13	1-Jun-12	3-Sep-13	1-Sep-12
Dividend Per Share	$0.13	$0.13	$0.13	$0.13	$0.13	$0.13
Total Amount	$2,138	$2,106	$2,168	$2,120	$2,188	$2,120
Payment Date	15-Apr-13	15-Apr-12	15-Jul-13	15-Jul-12	15-Oct-13	15-Oct-12

Related_Party_Developments_Add

Related Party Developments - Additional Information (Detail)	1 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013
Related Party Transaction [Line Items]	'
Common stock sold in a secondary offering	1.5
Beneficial ownership percentage of common stock	53.00%

Commitments_Contingencies_and_1

Commitments Contingencies and Other Developments - Additional Information (Detail) (USD $)	Oct. 01, 2013
In Millions, unless otherwise specified
Commitments and Contingencies [Line Items]	'
Outstanding letter of credit	$6.70
Revolving credit facility available	47.3
Revolving facility outstanding	21
Total revolving facility	75
Letter of Credit	'
Commitments and Contingencies [Line Items]	'
Revolving credit facility available	$13.30

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Oct. 01, 2013	Oct. 02, 2012
Interest related to:	'	'
Income taxes	$284	$646
Non-cash investing activities:	'	'
Non-cash purchase of equipment through capital leasing	'	9
Change in accrued expenses for purchases of property and equipment	464	-77
Term loans and revolving credit facility	'	'
Interest related to:	'	'
Interest paid	4,008	1,780
Miscellaneous bank charges	'	'
Interest related to:	'	'
Interest paid	$347	$281

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (USD $)	3 Months Ended				6 Months Ended		9 Months Ended		1 Months Ended
In Millions, except Per Share data, unless otherwise specified	Oct. 01, 2013	Apr. 02, 2013	Oct. 02, 2012	Apr. 03, 2012	Jul. 02, 2013	Jul. 03, 2012	Oct. 01, 2013	Oct. 02, 2012	Oct. 29, 2013	Oct. 01, 2013
									Subsequent Event	Subsequent Event
										Restaurant
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of restaurants acquired	'	'	'	'	'	'	'	'	'	3
Purchase price of acquired restaurants	'	'	'	'	'	'	'	'	'	$0.90
Declaration of dividend common stock cash	$0.13	'	$0.13	'	'	'	$0.38	$0.38	$0.13	'
Declaration dividend date	'	30-Jan-13	'	18-Jan-12	30-Apr-13	1-May-12	30-Jul-13	30-Jul-12	29-Oct-13	'
Dividend payable date	'	15-Apr-13	'	15-Apr-12	15-Jul-13	15-Jul-12	15-Oct-13	15-Oct-12	15-Jan-14	'
Dividend record date	'	1-Mar-13	'	1-Mar-12	3-Jun-13	1-Jun-12	3-Sep-13	1-Sep-12	2-Dec-13	'