Note 15 - Income Taxes

6 Months Ended

Jul. 02, 2016

Notes to Financial Statements

Income Tax Disclosure [Text Block]

15. Income Taxes

The projected fiscal 2016 effective income tax rates as of July 2, 2016 and applied for the twenty-six week period ended July 2, 2016 are approximately 41.6% and 26.5% in the United States and Canada, respectively, and yielded a consolidated effective income tax rate of approximately 39.2% for the twenty-six week period ended July 2, 2016. For the comparable prior year period estimated income tax rates were 41.5% and 26.5% in the United States and Canada, respectively, and yielded a consolidated effective income tax rate of approximately 37.3% for the twenty-six week period ended July 4, 2015.  The relative income or loss generated in each jurisdiction can materially impact the overall effective income tax rate of the Company.