Income Taxes (Tables)
|
12 Months Ended |
Dec. 29, 2012
|
Income Taxes [Abstract] |
|
Components of loss before income taxes |
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Fifty-Two Weeks Ended |
|
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December 29, 2012 |
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|
December 31, 2011 |
|
|
January 1, 2011 |
|
Domestic operations
|
|
$ |
(37,469 |
) |
|
$ |
(16,976 |
) |
|
$ |
(2,540 |
) |
Foreign operations
|
|
|
554 |
|
|
|
327 |
|
|
|
832 |
|
|
|
|
|
|
|
|
|
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|
|
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Total loss before income taxes
|
|
$ |
(36,915 |
) |
|
$ |
(16,649 |
) |
|
$ |
(1,708 |
) |
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Summary of income tax provision (benefit) |
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Fifty-Two Weeks Ended |
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December 29, 2012 |
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December 31, 2011 |
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January 1, 2011 |
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Current:
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Federal tax
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(434 |
) |
State tax
|
|
|
14 |
|
|
|
23 |
|
|
|
8 |
|
Foreign tax
|
|
|
(76 |
) |
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|
4 |
|
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|
73 |
|
|
|
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Total current taxes
|
|
|
(62 |
) |
|
|
27 |
|
|
|
(354 |
) |
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Fifty-Two Weeks Ended |
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|
December 29, 2012 |
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|
December 31, 2011 |
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|
January 1, 2011 |
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Deferred:
|
|
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Federal tax
|
|
|
(12,612 |
) |
|
|
(5,516 |
) |
|
|
61 |
|
State tax
|
|
|
(2,618 |
) |
|
|
(1,728 |
) |
|
|
13 |
|
Foreign tax
|
|
|
275 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
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Total deferred taxes
|
|
|
(14,955 |
) |
|
|
(7,244 |
) |
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|
74 |
|
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Valuation allowance
|
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14,080 |
|
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|
5,705 |
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|
12,498 |
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|
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Income tax (benefit) provision
|
|
$ |
(937 |
) |
|
$ |
(1,512 |
) |
|
$ |
12,218 |
|
|
|
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|
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Summary of differences between income tax provision (benefit) and applied federal statutory rate |
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December 29, 2012 |
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|
December 31, 2011 |
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|
January 1, 2011 |
|
Income tax at U.S. federal statutory rate
|
|
$ |
(12,551 |
) |
|
$ |
(5,661 |
) |
|
$ |
(581 |
) |
Share-based compensation
|
|
|
38 |
|
|
|
21 |
|
|
|
(93 |
) |
State income tax, net of federal tax effect
|
|
|
(2,528 |
) |
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|
(1,629 |
) |
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|
(759 |
) |
Tax exempt interest
|
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|
— |
|
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|
(3 |
) |
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|
(8 |
) |
Foreign tax
|
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|
(27 |
) |
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|
(108 |
) |
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|
(210 |
) |
Non deductible acquisition costs
|
|
|
— |
|
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|
— |
|
|
|
258 |
|
Other
|
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|
51 |
|
|
|
140 |
|
|
|
1 |
|
Change in valuation allowance
|
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14,080 |
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5,728 |
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|
13,610 |
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Effective tax (benefit) provision
|
|
$ |
(937 |
) |
|
$ |
(1,512 |
) |
|
$ |
12,218 |
|
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Summary of deferred tax assets and deferred tax liabilities |
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December 29, 2012 |
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|
December 31, 2011 |
|
Deferred tax assets:
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Inventory and inventory related reserve
|
|
$ |
1,029 |
|
|
$ |
1,591 |
|
Share-based compensation
|
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|
4,378 |
|
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|
4,017 |
|
Amortization
|
|
|
15,668 |
|
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|
9,418 |
|
Sales and bad debt allowances
|
|
|
773 |
|
|
|
795 |
|
Vacation accrual
|
|
|
345 |
|
|
|
290 |
|
Other comprehensive income
|
|
|
— |
|
|
|
9 |
|
Net operating loss and AMT credit carry-forwards
|
|
|
17,656 |
|
|
|
13,250 |
|
Other
|
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|
401 |
|
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65 |
|
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Total deferred tax assets
|
|
|
40,250 |
|
|
|
29,435 |
|
Valuation Allowance
|
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|
(36,896 |
) |
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|
(22,817 |
) |
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Net deferred tax assets
|
|
|
3,354 |
|
|
|
6,618 |
|
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Deferred tax liabilities:
|
|
|
|
|
|
|
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Tax over book depreciation
|
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|
3,206 |
|
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|
5,270 |
|
Tax over book amortization
|
|
|
130 |
|
|
|
2,226 |
|
Prepaid catalog expenses
|
|
|
293 |
|
|
|
272 |
|
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Total deferred tax liabilities
|
|
|
3,629 |
|
|
|
7,768 |
|
|
|
|
|
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|
Net deferred tax liabilities
|
|
$ |
(275 |
) |
|
$ |
(1,150 |
) |
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|
Summary of state NOL carryforwards expiration year |
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|
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|
2016 – 2022
|
|
$ |
38,853 |
|
2023 – 2032
|
|
|
15,083 |
|
|
|
|
|
|
|
|
$ |
53,936 |
|
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