Stockholders' Equity (Tables)
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12 Months Ended |
Dec. 29, 2022 |
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| Equity [Abstract] |
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| Schedule of Components of Stock-Based Compensation Expense |
The table below presents components of stock-based compensation expense within the Company’s Consolidated Statements of Operations and Comprehensive Income:
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Fiscal Year Ended |
| in thousands |
December 29,
2022 |
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December 30,
2021 |
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December 31,
2020 |
| General and administrative |
$ |
21,665 |
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$ |
20,528 |
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$ |
16,115 |
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| Selling and store operating |
568 |
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— |
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— |
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| Total stock-based compensation expense |
$ |
22,233 |
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$ |
20,528 |
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$ |
16,115 |
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| Schedule of Assumptions Used to Estimate the Fair Value of Stock Option Awards Granted |
During fiscal years 2021 and 2020, stock option award grant date fair values were estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:
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Fiscal Year Ended |
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December 30,
2021 |
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December 31,
2020 |
| Weighted average fair value per stock option |
$ |
41.75 |
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$ |
22.27 |
| Risk-free interest rate |
0.80% |
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1.17% |
| Expected volatility |
48% |
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39% |
| Expected life (in years) |
5.40 |
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5.75 |
| Dividend yield |
—% |
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—% |
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| Schedule of Stock Option Activity |
The table below summarizes stock option activity for the fiscal year ended December 29, 2022:
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Options |
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Weighted
Average
Exercise
Price |
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Weighted Average Remaining Contractual Life (Years) |
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Aggregate Intrinsic Value (in thousands) |
| Outstanding at December 31, 2021 |
2,503,654 |
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$ |
26.81 |
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| Exercised |
(352,455) |
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21.54 |
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| Forfeited or expired |
(49,640) |
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52.00 |
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| Outstanding at December 29, 2022 |
2,101,559 |
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$ |
27.10 |
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4.8 |
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$ |
93,730 |
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| Vested and exercisable at December 29, 2022 |
1,885,661 |
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$ |
23.08 |
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4.5 |
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$ |
90,713 |
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| Schedule of Restricted Stock Unit Activity |
The following table summarizes restricted stock unit activity during the fiscal year ended December 29, 2022:
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Restricted Stock Units |
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Service-based |
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Performance-based |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
| Unvested at December 31, 2021 |
214,778 |
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$ |
82.80 |
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— |
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$ |
— |
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| Granted |
283,585 |
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91.88 |
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36,566 |
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95.62 |
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| Vested |
(59,096) |
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79.87 |
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— |
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— |
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| Forfeited |
(30,438) |
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91.55 |
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(449) |
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95.62 |
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| Unvested at December 29, 2022 |
408,829 |
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$ |
88.85 |
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36,117 |
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$ |
95.62 |
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| Schedule of Restricted Stock Award Activity |
The following table summarizes restricted stock award activity during the fiscal year ended December 29, 2022 (no restricted stock awards were granted during fiscal 2022):
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Restricted Stock Awards |
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Service-based |
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Performance-based |
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Total shareholder return |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
| Unvested at December 31, 2021 |
144,725 |
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$ |
62.92 |
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160,315 |
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$ |
57.70 |
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104,456 |
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$ |
44.28 |
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| Vested |
(25,204) |
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78.50 |
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— |
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— |
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— |
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— |
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| Forfeited |
(16,195) |
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62.53 |
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(25,997) |
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57.70 |
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(16,939) |
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44.28 |
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| Unvested at December 29, 2022 |
103,326 |
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$ |
59.18 |
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134,318 |
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$ |
57.70 |
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87,517 |
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$ |
44.28 |
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