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Shareholders' Deficit (Tables)
12 Months Ended
Dec. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense was as follows (in thousands):
 202320222021
Stock awards(1)
$11,053 $9,471 $20,216 
Stock options3,802 3,752 2,998 
Total stock-based compensation expense(1)
14,855 13,223 23,214 
Income tax benefit3,476 3,319 5,722 
Total stock-based compensation expense, net of tax$11,379 $9,904 $17,492 
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(1)    Changes in annual stock-based compensation expense includes the cumulative impact of the change in the expected achievements of certain performance targets.
Summary of Stock Option Activity
A summary of the Company’s stock option activity was as follows (in thousands, except per share amounts and years):
 Stock
Options
Weighted-
Average
Exercise
Price per
Share
Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic
Value (1)
Outstanding at December 31, 2022787 $46.02 6.1$829 
Granted305 27.30 
Exercised(20)21.43 
Canceled/Forfeited(26)55.69 
Outstanding at December 30, 20231,046 $40.80 6.2$— 
Exercisable at December 30, 2023654 $42.08 4.5$— 
Vested and expected to vest at December 30, 20231,014 $40.87 6.1$— 
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(1)    Aggregate intrinsic value includes only those options where the current share price is equal to or greater than the share price on the date of grant.
Other Information Pertaining to Options
Other information pertaining to options was as follows (in thousands, except per share amounts):
 202320222021
Weighted-average grant date fair value of stock options granted$16.41 $30.22 $71.93 
Total intrinsic value (at exercise) of stock options exercised$298 $1,298 $16,003 
Assumptions Used to Calculate Fair Value of Options Granted Using Black-Scholes-Merton Option-Pricing Model
The assumptions used to calculate the fair value of options granted using the Black-Scholes-Merton option-pricing model were as follows:
Valuation Assumptions202320222021
Expected dividend yield0.0 %0.0 %0.0 %
Expected volatility64 %57 %58 %
Risk-free interest rate3.8 %2.2 %0.9 %
Expected term (years)5.75.35.2
Stock Award Activity
Stock award activity was as follows (in thousands, except per share amounts):
Time-
Based
Stock
Awards
Weighted-Average
Grant Date
Fair Value
Performance-
Based
Stock Awards
Weighted-Average
Grant Date
Fair Value
Outstanding at December 31, 2022261 $61.88 501 $66.33 
Granted304 26.10 440 28.85 
Vested(127)57.10 (201)36.84 
Canceled/Forfeited(41)48.64 (41)61.15 
Outstanding at December 30, 2023397 $37.38 699 $51.74 
Schedule of Repurchase of Common Stock
Repurchases of the Company’s common stock were as follows (in thousands):
 202320222021
Amount repurchased under Board-approved share repurchase program$— $54,868 $364,479 
Amount repurchased in connection with the vesting of employee restricted stock grants3,747 9,320 17,897 
Total amount repurchased (based on trade dates)$3,747 $64,188 $382,376 
Net Income per Common Share
The components of basic and diluted net (loss) income per share were as follows (in thousands, except per share amounts):
 202320222021
Net (loss) income$(15,287)$36,610 $153,746 
Reconciliation of weighted-average shares outstanding:
Basic weighted-average shares outstanding22,429 22,396 24,038 
Dilutive effect of stock-based awards— 456 909 
Diluted weighted-average shares outstanding22,429 22,852 24,947 
Net (loss) income per share – basic$(0.68)$1.63 $6.40 
Net (loss) income per share – diluted
$(0.68)$1.60 $6.16