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Income Taxes
4 Months Ended
Apr. 22, 2017
Income Tax Disclosure [Abstract]  
Income Taxes

Note 10 – Income Taxes

The effective income tax rate was 32.8% and 37.7% for the 16 weeks ended April 22, 2017 and April 23, 2016, respectively. The differences from the federal statutory rate are primarily due to tax benefits related to stock-based compensation, state taxes and federal tax credits in the current year and state taxes and federal tax credits in the prior year. The Company adopted ASU 2016-09 on January 1, 2017, which requires tax benefits or deficiencies related to stock-based compensation to be reflected in the condensed consolidated statements of earnings as a component of the provision for income taxes whereas they were previously recognized in equity. Total tax benefits recognized in the first quarter of fiscal 2017 were $1.1 million.