Quarterly Information

12 Months Ended

Jan. 03, 2012

Quarterly Information [Abstract]

Quarterly Information

17. UNAUDITED QUARTERLY INFORMATION

(In thousands, except per share amounts)

In accordance with its refranchising initiative, during fiscal 2011 the Company sold 42 stores during the first quarter. During fiscal 2010 the Company sold 20 stores during the first quarter, 22 stores in the second quarter, 46 stores in the third quarter and 17 stores during the fourth quarter.

	Fiscal Year 2011
(Dollars in thousands, except share and per share amounts)	Sixteen Weeks Ended April 19, 2011			Twelve Weeks Ended July 12, 2011			Twelve Weeks Ended October 4, 2011			Thirteen  Weeks Ended January 3, 2012
Revenue:
Company stores	$	63,203		$	55,969		$	54,102		$	41,563
Franchise and other revenue		2,972			2,886			2,976			2,763
Total revenue		66,175			58,855			57,078			44,326
Costs and operating expenses (income):
Cost of sales		15,213			12,807			11,808			9,675
Labor		21,964			16,610			14,565			14,729
Occupancy		10,180			6,725			6,802			7,385
Store operating		9,521			7,668			8,539			7,119
Depreciation and amortization		3,956			2,860			2,805			2,842
General and administrative		10,445			8,038			7,398			11,917
Impairment of long-lived assets		576			326			312			77
Other operating, net		647			(68	)		924			393
Total costs and operating expenses		72,502			54,966			53,153			54,137
(Loss) Income from operations		(6,327	)		3,889			3,925			(9,811	)
Other income (expense):
Interest income		—			27			99			33
Interest expense		(233	)		(106	)		(117	)		(17	)
Total other (expense) income, net		(233	)		(79	)		(18	)		16
(Loss) Income before income taxes		(6,560	)		3,810			3,907			(9,795	)
Income tax benefit (expense)		40			123			217			(40	)
Net (loss) income		(6,520	)		3,933			4,124			(9,835	)
Redeemable preferred stock dividends and deemed dividends		(827	)		(538	)		(489	)		(477	)
Net (loss) income attributable to common stockholders	$	(7,347	)	$	3,395		$	3,635		$	(10,312	)
(Loss) Earnings per share:
Basic	$	(0.11	)	$	0.05		$	0.05		$	(0.15	)
Diluted	$	(0.11	)	$	0.05		$	0.05		$	(0.15	)

	Fiscal Year 2010
(Dollars in thousands, except share and per share amounts)	Sixteen Weeks Ended April  20, 2010			Twelve Weeks Ended July 13, 2010			Twelve Weeks Ended October 5, 2010			Twelve Weeks Ended December 28, 2010
Revenue:
Company stores	$	78,470		$	72,250		$	63,922		$	39,849
Franchise and other revenue		1,958			1,823			2,167			2,214
Total revenue		80,428			74,073			66,089			42,063
Costs and operating expenses (income):
Cost of sales		19,113			17,124			15,042			10,028
Labor		27,670			21,424			19,665			16,430
Occupancy		12,963			9,363			8,564			7,671
Store operating		10,962			9,896			9,461			8,039
Depreciation and amortization		4,934			3,490			3,085			3,101
General and administrative		10,877			9,361			8,087			8,937
Impairment of long-lived assets		171			2,121			—			486
Other operating, net		(1,176	)		(397	)		2,655			(471	)
Total costs and operating expenses		85,514			72,382			66,559			54,221
(Loss) Income from operations		(5,086	)		1,691			(470	)		(12,158	)
Other income (expense):
Interest income		24			14			21			14
Interest expense		(177	)		(112	)		(145	)		(113	)
Total other expense		(153	)		(98	)		(124	)		(99	)
(Loss) Income before income taxes		(5,239	)		1,593			(594	)		(12,257	)
Income tax (expense) benefit		(17	)		(9	)		(174	)		41
Net loss		(5,256	)		1,584			(768	)		(12,216	)
Redeemable preferred stock dividends and deemed dividends		(1,803	)		(660	)		(659	)		(955	)
Net (loss) income attributable to common stockholders	$	(7,059	)	$	924		$	(1,427	)	$	(13,171	)
Earnings (Loss) per share:
Basic	$	(0.13	)	$	0.02		$	(0.02	)	$	(0.21	)
Diluted	$	(0.13	)	$	0.02		$	(0.02	)	$	(0.21	)

During the fourth quarter of fiscal 2011, revenue included $3.6 million for the 53^rd week in the fiscal year. As a result of accomplishing and accelerating its strategic objectives, the Company recorded approximately $2.4 million for employee performance compensation in G&A expense. In addition, G&A expense includes $0.5 million relating to the 53^rd week in fiscal 2011. Other operating, net included an adjustment of $0.6 million to reverse breakage recorded in prior years.

During the fourth quarter of fiscal 2010, the Company recorded $3.0 million for jambacards breakage in other operating, net, which included a one-time benefit of approximately $1.5 million to recognize the effect of changes in the escheatment status in certain states. The adjustment included $0.3 million relating to the fourth quarter of fiscal 2010 and $0.2 million for each of the first three quarters of fiscal 2010.