View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Oct. 01, 2017	Oct. 24, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 01, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Trading Symbol	BGFV
Entity Registrant Name	BIG 5 SPORTING GOODS CORP
Entity Central Index Key	0001156388
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		21,426,863

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2017	Jan. 01, 2017
Current assets:
Cash	$ 5,344	$ 7,895
Accounts receivable, net of allowances of $53 and $42, respectively	8,601	12,200
Merchandise inventories, net	309,331	294,319
Prepaid expenses	11,513	10,085
Total current assets	334,789	324,499
Property and equipment, net	77,694	78,420
Deferred income taxes	21,559	23,699
Other assets, net of accumulated amortization of $1,551 and $1,420, respectively	2,919	2,528
Goodwill	4,433	4,433
Total assets	441,394	433,579
Current liabilities:
Accounts payable	93,585	109,314
Accrued expenses	66,035	76,887
Current portion of capital lease obligations	1,782	1,326
Total current liabilities	161,402	187,527
Deferred rent, less current portion	15,983	17,028
Capital lease obligations, less current portion	3,007	1,999
Long-term debt	46,427	10,000
Other long-term liabilities	11,089	11,988
Total liabilities	237,908	228,542
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, authorized 50,000,000 shares; issued 24,922,998 and 24,784,367 shares, respectively; outstanding 21,474,173 and 22,012,651 shares, respectively	249	248
Additional paid-in capital	115,944	114,797
Retained earnings	128,568	124,363
Less: Treasury stock, at cost; 3,448,825 and 2,771,716 shares, respectively	(41,275)	(34,371)
Total stockholders' equity	203,486	205,037
Total liabilities and stockholders' equity	$ 441,394	$ 433,579

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 01, 2017	Jan. 01, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 53	$ 42
Accumulated amortization on other assets	$ 1,551	$ 1,420
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	24,922,998	24,784,367
Common stock, shares outstanding	21,474,173	22,012,651
Treasury stock, shares	3,448,825	2,771,716

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Income Statement [Abstract]
Net sales	$ 270,471	$ 279,015	$ 766,746	$ 754,952
Cost of sales	182,923	189,126	516,268	517,841
Gross profit	87,548	89,889	250,478	237,111
Selling and administrative expense	77,358	76,296	226,190	219,774
Operating income	10,190	13,593	24,288	17,337
Interest expense	447	323	1,095	1,204
Income before income taxes	9,743	13,270	23,193	16,133
Income taxes	3,793	5,083	9,139	6,941
Net income	$ 5,950	$ 8,187	$ 14,054	$ 9,192
Earnings per share:
Basic	$ 0.28	$ 0.38	$ 0.65	$ 0.43
Diluted	0.28	0.38	0.65	0.42
Dividends per share	$ 0.15	$ 0.125	$ 0.45	$ 0.375
Weighted-average shares of common stock outstanding:
Basic	21,324	21,593	21,584	21,607
Diluted	21,355	21,732	21,752	21,790

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Outstanding [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock, At Cost [Member]
Beginning Balance at Jan. 03, 2016	$ 198,831		$ 246	$ 112,236	$ 118,998	$ (32,649)
Beginning Balance, Shares at Jan. 03, 2016		21,917,982
Net income	9,192				9,192
Dividends on common stock	(8,223)				(8,223)
Issuance of nonvested share awards			2	(2)
Issuance of nonvested share awards, Shares		166,980
Exercise of share option awards	47			47
Exercise of share option awards, Shares		6,225
Share-based compensation	1,790			1,790
Tax deficiency from share-based awards activity	(222)			(222)
Forfeiture of nonvested share awards, Shares		(15,770)
Retirement of common stock for payment of withholding tax	(613)		(1)	(612)
Retirement of common stock for payment of withholding tax, Shares		(53,682)
Purchases of treasury stock	(1,610)					(1,610)
Purchases of treasury stock, Shares		(126,899)
Ending Balance at Oct. 02, 2016	199,192		247	113,237	119,967	(34,259)
Ending Balance, shares at Oct. 02, 2016		21,894,836
Beginning Balance at Jan. 01, 2017	205,037		248	114,797	124,363	(34,371)
Beginning Balance, Shares at Jan. 01, 2017		22,012,651
Net income	14,054				14,054
Dividends on common stock	(9,849)				(9,849)
Issuance of nonvested share awards			2	(2)
Issuance of nonvested share awards, Shares		203,112
Exercise of share option awards	67			67
Exercise of share option awards, Shares		11,086
Share-based compensation	1,750			1,750
Forfeiture of nonvested share awards, Shares		(21,555)
Retirement of common stock for payment of withholding tax	$ (805)		(1)	(804)
Retirement of common stock for payment of withholding tax, Shares	(54,012)	(54,012)
Net disgorgement of stockholder's short-swing profits	$ 136			136
Purchases of treasury stock	(6,904)					(6,904)
Purchases of treasury stock, Shares		(677,109)
Ending Balance at Oct. 01, 2017	$ 203,486		$ 249	$ 115,944	$ 128,568	$ (41,275)
Ending Balance, shares at Oct. 01, 2017		21,474,173

Unaudited Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Dividends per share	$ 0.45	$ 0.375
Retained Earnings [Member]
Dividends per share	$ 0.45	$ 0.375

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Cash flows from operating activities:
Net income	$ 14,054	$ 9,192
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	14,324	14,289
Share-based compensation	1,750	1,790
Excess tax benefit related to share-based awards		(57)
Amortization of debt issuance costs	130	132
Deferred income taxes	2,140	1,726
Changes in operating assets and liabilities:
Accounts receivable, net	3,599	5,246
Merchandise inventories, net	(15,012)	9,608
Prepaid expenses and other assets	(1,701)	2,127
Accounts payable	(12,033)	17,772
Accrued expenses and other long-term liabilities	(12,802)	(6,788)
Net cash (used in) provided by operating activities	(5,551)	55,037
Cash flows from investing activities:
Purchases of property and equipment	(11,374)	(10,215)
Net cash used in investing activities	(11,374)	(10,215)
Cash flows from financing activities:
Principal borrowings under revolving credit facility	177,785	142,678
Principal payments under revolving credit facility	(141,358)	(174,649)
Changes in book overdraft	(3,671)	(3,018)
Debt issuance costs	(140)
Principal payments under capital lease obligations	(1,181)	(1,125)
Proceeds from exercise of share option awards	67	47
Proceeds from disgorgement of stockholder's short-swing profits	346
Excess tax benefit related to share-based awards		57
Purchases of treasury stock	(6,829)	(1,610)
Tax withholding payments for share-based compensation	(805)	(613)
Dividends paid	(9,840)	(8,229)
Net cash provided by (used in) financing activities	14,374	(46,462)
Net decrease in cash	(2,551)	(1,640)
Cash at beginning of period	7,895	7,119
Cash at end of period	5,344	5,479
Supplemental disclosures of non-cash investing and financing activities:
Property and equipment acquired under capital leases	2,666	1,014
Property and equipment additions unpaid	1,734	2,211
Supplemental disclosures of cash flow information:
Interest paid	972	1,069
Income taxes paid	$ 10,003	$ 555

Description of Business

9 Months Ended

Oct. 01, 2017

Accounting Policies [Abstract]

Description of Business

(1)	Description of Business

Big 5 Sporting Goods Corporation (the “Company”) is a leading sporting goods retailer in the western United States, operating 432 stores and an e-commerce platform as of October 1, 2017. The Company provides a full-line product offering in a traditional sporting goods store format that averages approximately 11,000 square feet. The Company’s product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, winter and summer recreation and roller sports. The Company is a holding company that operates as one reportable segment through Big 5 Corp., its 100%-owned subsidiary, and Big 5 Services Corp., which is a 100%-owned subsidiary of Big 5 Corp. Big 5 Services Corp. provides a centralized operation for the issuance and administration of gift cards.

The accompanying interim unaudited condensed consolidated financial statements (“Interim Financial Statements”) of the Company and its 100%-owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, these Interim Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. These Interim Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto for the fiscal year ended January 1, 2017 included in the Company’s Annual Report on Form 10-K. In the opinion of management, the Interim Financial Statements included herein contain all adjustments, including normal recurring adjustments, considered necessary to present fairly the Company’s financial position, the results of operations and cash flows for the periods presented.

The operating results and cash flows of the interim periods presented herein are not necessarily indicative of the results to be expected for any other interim period or the full year.

Summary of Significant Accounting Policies

9 Months Ended

Oct. 01, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(2)	Summary of Significant Accounting Policies

Consolidation

The accompanying Interim Financial Statements include the accounts of Big 5 Sporting Goods Corporation, Big 5 Corp. and Big 5 Services Corp. Intercompany balances and transactions have been eliminated in consolidation.

Reporting Period

The Company follows the concept of a 52-53 week fiscal year, which ends on the Sunday nearest December 31. Fiscal year 2017 is comprised of 52 weeks and ends on December 31, 2017. Fiscal year 2016 was comprised of 52 weeks and ended on January 1, 2017. The fiscal interim periods in fiscal 2017 and 2016 are each comprised of 13 weeks.

Recently Adopted Accounting Updates

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which includes multiple provisions intended to simplify various aspects of the accounting for share-based payments, including treatment of excess tax benefits and forfeitures, as well as consideration of minimum statutory tax withholding requirements. The ASU took effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016, with early application permitted as of the beginning of an interim or annual reporting period. The Company adopted this standard in the first quarter of fiscal 2017, coinciding with the standard’s effective date, and has applied the effects of the adoption from the beginning of fiscal 2017, as follows:

•

Excess tax benefits or deficiencies are applied prospectively and recorded as a component of the income tax provision in the fiscal 2017 interim unaudited condensed consolidated statement of operations. Such amounts were previously recognized in additional paid-in capital, to the extent that there was a sufficient additional paid-in capital pool related to previously-recognized tax benefits, on the Company’s consolidated balance sheets. No prior periods have been adjusted.

•

The Company had no unrecognized tax benefits related to its share-based payment awards at the adoption date. Therefore, no cumulative-effect adjustment to retained earnings was required as of the adoption date.

•

Earnings per share amounts presented in the fiscal 2017 interim unaudited condensed consolidated statement of operations have been adjusted prospectively, and exclude the impact of assumed proceeds from tax benefits under the treasury stock method, since such amounts are now included as a component of the income tax provision and are no longer recognized in additional paid-in capital on the Company’s consolidated balance sheet. No prior periods have been adjusted.

•

Excess tax benefits no longer represent financing activities since they are recognized in the fiscal 2017 interim unaudited condensed consolidated statement of operations; therefore, excess tax benefits have been classified as operating activities in the fiscal 2017 interim unaudited condensed consolidated statement of cash flows. The ASU eliminated the requirement to reclassify excess tax benefits from operating activities to financing activities. The Company elected to apply the change in presentation prospectively, and no prior periods have been adjusted.

•

The Company elected to continue to estimate the total number of awards for which the service period will not be rendered, which resulted in no change to the Company’s Interim Financial Statements.

•

The Company currently presents cash payments to taxing authorities in connection with shares withheld to meet statutory tax withholding requirements as a financing activity, which resulted in no change to the Company’s Interim Financial Statements.

The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Updates

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which was further clarified and amended in 2015 and 2016, and supersedes most preexisting revenue recognition guidance with a comprehensive new revenue recognition model. The core principle is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU No. 2014-09 will become effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017, with early application permitted. The Company plans to adopt this standard retrospectively with the cumulative effect of initially applying this ASU recognized in the first quarter of fiscal 2018, coinciding with the standard’s effective date. While the Company is still evaluating this ASU, the Company has determined that the new standard will primarily impact the following areas: gift card breakage will be recognized based on actual customer redemptions, rather than when redemption is considered remote; estimated costs of sales returns will be recorded as a current asset rather than netted with the sales return reserve; and, revenues related to online sales will be recognized upon shipment rather than customer receipt. The Company continues to analyze its revenue streams for the areas discussed above, along with all required disclosures, and currently does not expect that this standard will have a material impact on the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize on the balance sheet assets and liabilities for leases with lease terms of more than 12 months. Consistent with GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend primarily on its classification as a finance or operating lease. However, unlike current GAAP—which requires only capital leases to be recognized on the balance sheet—the new ASU will require both types of leases to be recognized on the balance sheet. The ASU will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. This ASU shall be applied at the beginning of the earliest period presented using the modified retrospective approach, which includes a number of practical expedients that an entity may elect to apply. Early application of ASU No. 2016-02 is permitted. The Company plans to adopt this standard in the first quarter of fiscal 2019, coinciding with the standard’s effective date. While the Company is still evaluating this ASU, the Company has determined that the primary impact will be to recognize on the balance sheet all leases with remaining lease terms greater than 12 months. It is expected that this standard will have a material impact on the Company’s consolidated financial statements. The Company continues to evaluate the full impact of the new standard, as well as the effect on business processes, systems and internal controls.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step of the goodwill impairment test. The new ASU requires application of a one-step quantitative test, and recognition of the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The ASU will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and shall be applied prospectively. Early adoption of ASU No. 2017-04 is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is considering early adoption of this new standard, to be applied on a prospective basis, and currently does not expect that this standard will have a material impact on the Company’s consolidated financial statements.

Other recently issued accounting updates are not expected to have a material impact on the Company’s consolidated financial statements.

Use of Estimates

Management has made a number of estimates and assumptions relating to the reporting of assets, liabilities and stockholders’ equity and the disclosure of contingent assets and liabilities as of the date of the Interim Financial Statements and reported amounts of revenue and expense during the reporting period to prepare these Interim Financial Statements in conformity with GAAP. Certain items subject to such estimates and assumptions include the carrying amount of merchandise inventories, property and equipment, and goodwill; valuation allowances for receivables, sales returns and deferred income tax assets; estimates related to gift card breakage and the valuation of share-based compensation awards; and obligations related to litigation, self-insurance liabilities and employee benefits. Actual results could differ significantly from these estimates under different assumptions and conditions.

Revenue Recognition

The Company recognizes revenue from retail sales at the point of sale through its retail stores. For e-commerce sales, revenue is recognized when the merchandise is delivered to the customer. Shipping and handling fees, when billed to customers for e-commerce sales, are included in net sales and the related shipping and handling costs are included in cost of sales. An allowance for sales returns is estimated based upon historical experience and recorded as a reduction in sales in the relevant period.

Cash received from the sale of gift cards is recorded as a liability, and revenue is recognized upon the redemption of the gift card or when it is determined that the likelihood of redemption is remote (“gift card breakage”) and no liability to relevant jurisdictions exists. The Company does not sell gift cards that carry expiration dates. The Company determines the gift card breakage rate based upon historical redemption patterns and recognizes gift card breakage on a straight-line basis over the estimated gift card redemption period (20 quarters as of the end of the third quarter of fiscal 2017). The Company recognized approximately $111,000 and $334,000 in gift card breakage revenue for the 13 and 39 weeks ended October 1, 2017, respectively, compared to approximately $112,000 and $337,000 in gift card breakage revenue for the 13 and 39 weeks ended October 2, 2016, respectively. The Company had outstanding gift card liabilities of $4.1 million and $5.3 million as of October 1, 2017 and January 1, 2017, respectively, which are included in accrued expenses.

The Company records sales tax collected from its customers on a net basis, and therefore excludes it from revenue as defined in Accounting Standards Codification (“ASC”) 605, Revenue Recognition.

Share-Based Compensation

The Company accounts for share-based compensation in accordance with ASC 718, Compensation—Stock Compensation. The Company recognizes compensation expense on a straight-line basis over the requisite service period using the fair-value method for share option awards, nonvested share awards and nonvested share unit awards granted with service-only conditions. See Note 11 to the Interim Financial Statements for a further discussion on share-based compensation.

Valuation of Merchandise Inventories, Net

The Company’s merchandise inventories are made up of finished goods and are valued at the lower of cost or net realizable value using the weighted-average cost method which approximates the first-in, first-out (“FIFO”) method. Average cost includes the direct purchase price of merchandise inventory, net of certain vendor allowances and cash discounts, in-bound freight-related expense and allocated overhead expense associated with the Company’s distribution center.

Management regularly reviews inventories and records valuation reserves for damaged and defective merchandise, merchandise items with slow-moving or obsolescence exposure and merchandise that has a carrying value that exceeds net realizable value. Because of its merchandise mix, the Company has not historically experienced significant occurrences of obsolescence.

Inventory shrinkage is accrued as a percentage of merchandise sales based on historical inventory shrinkage trends. The Company performs physical inventories of its stores at least once per year and cycle counts inventories at its distribution center throughout the year. The reserve for inventory shrinkage primarily represents an estimate for inventory shrinkage for each store since the last physical inventory date through the reporting date.

These reserves are estimates, which could vary significantly, either favorably or unfavorably, from actual results if future economic conditions, consumer demand and competitive environments differ from expectations.

Valuation of Long-Lived Assets

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Long-lived assets are reviewed for recoverability at the lowest level in which there are identifiable cash flows (“asset group”), usually at the store level. Each store typically requires net investments of approximately $0.5 million in long-lived assets to be held and used, subject to recoverability testing. The carrying amount of an asset group is not considered recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If the asset group is determined not to be recoverable, then an impairment charge will be recognized in the amount by which the carrying amount of the asset group exceeds its fair value, determined using discounted cash flow valuation techniques, as defined in ASC 360, Property, Plant, and Equipment.

The Company determines the sum of the undiscounted cash flows expected to result from the asset group by projecting future revenue, gross margin and operating expense for each store under evaluation for impairment. The estimates of future cash flows involve management judgment and are based upon assumptions about expected future operating performance. Assumptions used in these forecasts are consistent with internal planning, and include assumptions about sales growth rates, gross margins and operating expense in relation to the current economic environment and future expectations, competitive factors in the various markets and inflation. The actual cash flows could differ from management’s estimates due to changes in business conditions, operating performance and economic conditions.

The Company recognized no impairment charges in the first 39 weeks of fiscal 2017 or 2016.

Leases and Deferred Rent

The Company accounts for its leases under the provisions of ASC 840, Leases.

The Company evaluates and classifies its leases as either operating or capital leases for financial reporting purposes. Operating lease commitments consist principally of leases for the Company’s retail store facilities, distribution center, corporate office, IT systems hardware and distribution center delivery tractors. Capital lease obligations consist principally of leases for some of the Company’s IT systems hardware.

Certain of the leases for the Company’s retail store facilities provide for payments based on future sales volumes at the leased location, which are not measurable at the inception of the lease. These contingent rents are expensed as they accrue.

Deferred rent represents the difference between rent paid and the amounts expensed for operating leases. Certain leases have scheduled rent increases, and certain leases include an initial period of free or reduced rent as an inducement to enter into the lease agreement (“rent holidays”). The Company recognizes rent expense for rent increases and rent holidays on a straight-line basis over the term of the underlying leases, without regard to when rent payments are made. The calculation of straight-line rent is based on the “reasonably assured” lease term as defined in ASC 840 and may exceed the initial non-cancelable lease term.

Landlord allowances for tenant improvements, or lease incentives, are recorded as deferred rent and amortized on a straight-line basis over the “reasonably assured” lease term as a component of rent expense.

Store Closing Costs

9 Months Ended

Oct. 01, 2017

Restructuring And Related Activities [Abstract]

Store Closing Costs

(3)	Store Closing Costs

Store closing costs primarily include lease termination costs for leases that expire in January 2018. The following table summarizes the activity for the Company’s store closing reserves:

	Lease Termination Costs
	(In thousands)
Balance at January 1, 2017	$	788
Store closing costs		(137	)
Payments		(600	)
Balance at October 1, 2017	$	51

Store closing cost activity in the first 39 weeks of fiscal 2017 reflects the early termination of two store leases that resulted in settlement of their lease obligations for less than the amounts originally recorded.

Accrued store closing costs is recorded in accrued expense in the accompanying interim unaudited condensed consolidated balance sheet.

Fair Value Measurements

9 Months Ended

Oct. 01, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

(4)	Fair Value Measurements

The carrying values of cash, accounts receivable, accounts payable and accrued expenses approximate the fair values of these instruments due to their short-term nature. The carrying amount for borrowings under the revolving credit facility approximates fair value because of the variable market interest rate charged to the Company for these borrowings. When the Company recognizes impairment on certain of its underperforming stores, the carrying values of these stores’ assets are reduced to their estimated fair values.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accrued Expenses

9 Months Ended

Oct. 01, 2017

Payables And Accruals [Abstract]

Accrued Expenses

(5)	Accrued Expenses

The major components of accrued expenses are as follows:

	October 1, 2017		January 1, 2017
	(In thousands)
Payroll and related expense	$	22,528	$	24,224
Occupancy expense		10,886		10,981
Sales tax		8,022		11,376
Other		24,599		30,306
Accrued expenses	$	66,035	$	76,887

Long-Term Debt

9 Months Ended

Oct. 01, 2017

Debt Disclosure [Abstract]

Long-Term Debt

(6)	Long-Term Debt

On October 18, 2010, the Company, Big 5 Corp. and Big 5 Services Corp. entered into a credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and a syndicate of other lenders, which was amended on October 31, 2011 and December 19, 2013 (as so amended, the “Credit Agreement”). On September 29, 2017, the parties amended certain provisions of the Credit Agreement (such amendment, the “Third Amendment”), as further discussed below.

The Credit Agreement provides for a revolving credit facility (the “Credit Facility”) with an aggregate committed availability of up to $140.0 million, which amount may be increased at the Company’s option up to a maximum of $165.0 million. The Company may also request additional increases in aggregate availability, up to a maximum of $200.0 million, in which case the existing lenders under the Credit Agreement will have the option to increase their commitments to accommodate the requested increase. If such existing lenders do not exercise that option, the Company may (with the consent of Wells Fargo, not to be unreasonably withheld) seek other lenders willing to provide such commitments. The Third Amendment includes a provision which permits the Company to elect to reduce the aggregate committed availability under the Credit Agreement to $100.0 million for a three-month period each calendar year. Prior to the Third Amendment, the Credit Facility included a $50.0 million sublimit for issuances of letters of credit. The Third Amendment reduced the letter of credit sublimit to $25.0 million. The Credit Facility includes a $20.0 million sublimit for swingline loans.

The Company may borrow under the Credit Facility from time to time, provided the amounts outstanding will not exceed the lesser of the then aggregate availability (as discussed above) and the Borrowing Base (such lesser amount being referred to as the “Loan Cap”). The “Borrowing Base” generally is comprised of the sum, at the time of calculation, of (a) 90.00% of eligible credit card receivables; plus (b) the cost of eligible inventory (other than eligible in-transit inventory), net of inventory reserves, multiplied by 90.00% of the appraised net orderly liquidation value of eligible inventory (expressed as a percentage of the cost of eligible inventory); plus (c) the lesser of (i) the cost of eligible in-transit inventory, net of inventory reserves, multiplied by 90.00% of the appraised net orderly liquidation value of eligible in-transit inventory (expressed as a percentage of the cost of eligible in-transit inventory), or (ii) $10.0 million, minus (d) certain reserves established by Wells Fargo in its role as the Administrative Agent in its reasonable discretion.

Generally, the Company may designate specific borrowings under the Credit Facility as either base rate loans or LIBO rate loans. The applicable interest rate on the Company’s borrowings is a function of the daily average, over the preceding fiscal quarter, of the excess of the Loan Cap over amounts borrowed (such amount being referred to as the “Average Daily Availability”). Prior to the Third Amendment, those loans designated as LIBO rate loans bore interest at a rate equal to the then applicable LIBO rate plus an applicable margin as shown in the table below. Those loans designated as base rate loans bore interest at a rate equal to the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the LIBO rate, as adjusted to account for statutory reserves, plus one percent (1.00%), or (c) the rate of interest in effect for such day as publicly announced from time to time by Wells Fargo as its “prime rate.” Prior to the Third Amendment, the applicable margin for all loans under the existing Credit Agreement was as set forth below as a function of Average Daily Availability for the preceding fiscal quarter.

Level	Average Daily Availability	LIBO Rate Applicable Margin		Base Rate Applicable Margin
I	Greater than or equal to $100,000,000		1.25%		0.25%
II	Less than $100,000,000 but greater than or equal to $40,000,000		1.50%		0.50%
III	Less than $40,000,000		1.75%		0.75%

Prior to the Third Amendment, the commitment fee assessed on the unused portion of the Credit Facility was 0.25% per annum.

After giving effect to the Third Amendment, those loans designated as LIBO rate loans will bear interest at a rate equal to the then applicable adjusted LIBO rate plus an applicable margin as shown in the table below. Those loans designated as base rate loans bear interest at a rate equal to the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the LIBO rate, plus one percentage point (1.00%), or (c) the rate of interest in effect for such day as announced from time to time within Wells Fargo as its “prime rate.” The applicable margin for all loans will be a function of Average Daily Availability for the preceding fiscal quarter as set forth below.

Level

Average Daily Availability

LIBO Rate

Applicable Margin

Base Rate

Applicable Margin

Greater than or equal to $70,000,000

1.25%

0.25%

Less than $70,000,000

1.375%

0.50%

After giving effect to the Third Amendment, the commitment fee assessed on the unused portion of the Credit Facility is 0.20% per annum.

Obligations under the Credit Facility are secured by a general lien and perfected security interest in substantially all of the Company’s assets. The Credit Agreement contains covenants that require the Company to maintain a fixed charge coverage ratio of not less than 1.0:1.0 in certain circumstances, and limit the ability to, among other things, incur liens, incur additional indebtedness, transfer or dispose of assets, change the nature of the business, guarantee obligations, pay dividends or make other distributions or repurchase stock, and make advances, loans or investments. The Company may declare or pay cash dividends or repurchase stock only if, among other things, no default or event of default then exists or would arise from such dividend or repurchase of stock and, after giving effect to such dividend or repurchase, certain availability and/or fixed charge coverage ratio requirements are satisfied. The Credit Agreement contains customary events of default, including, without limitation, failure to pay when due principal amounts with respect to the Credit Facility, failure to pay any interest or other amounts under the Credit Facility for five days after becoming due, failure to comply with certain agreements or covenants contained in the Credit Agreement, failure to satisfy certain judgments against the Company, failure to pay when due (or any other default which does or may lead to the acceleration of) certain other material indebtedness in principal amount in excess of $5.0 million, and certain insolvency and bankruptcy events.

The Third Amendment extended the maturity date of the Credit Agreement from December 19, 2018 to September 29, 2022. As of October 1, 2017, the Company had long-term revolving credit borrowings of $46.4 million and letter of credit commitments of $0.5 million outstanding, compared with borrowings of $10.0 million and letter of credit commitments of $0.5 million as of January 1, 2017. Total remaining borrowing availability, after subtracting letters of credit, was $93.1 million and $129.5 million as of October 1, 2017 and January 1, 2017, respectively.

Income Taxes

9 Months Ended

Oct. 01, 2017

Income Tax Disclosure [Abstract]

Income Taxes

(7)	Income Taxes

Under the asset and liability method prescribed under ASC 740, Income Taxes, the Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The realizability of deferred tax assets is assessed throughout the year and a valuation allowance is recorded if necessary to reduce net deferred tax assets to the amount more likely than not to be realized. As of October 1, 2017 and January 1, 2017, there was no valuation allowance for deferred income tax assets.

The Company files a consolidated federal income tax return and files tax returns in various state and local jurisdictions. The statutes of limitations for consolidated federal income tax returns are open for fiscal years 2014 and after, and state and local income tax returns are open for fiscal years 2012 and after.

The provision for income taxes for the 39 weeks ended October 2, 2016 reflects the write-off of deferred tax assets related to share-based compensation of $0.8 million.

As of October 1, 2017 and January 1, 2017, the Company had no unrecognized tax benefits including those that, if recognized, would affect the Company’s effective income tax rate over the next 12 months. The Company’s policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expense. As of October 1, 2017 and January 1, 2017, the Company had no accrued interest or penalties.

Earnings Per Share

9 Months Ended

Oct. 01, 2017

Earnings Per Share [Abstract]

Earnings Per Share

(8)	Earnings Per Share

The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding, reduced by shares repurchased and held in treasury, during the period. Diluted earnings per share represents basic earnings per share adjusted to include the dilutive effect of outstanding share option awards, nonvested share awards and nonvested share unit awards.

The following table sets forth the computation of basic and diluted earnings per common share:

	13 Weeks Ended				39 Weeks Ended
	October 1, 2017		October 2, 2016		October 1, 2017		October 2, 2016
	(In thousands, except per share data)

Net income	$	5,950	$	8,187	$	14,054	$	9,192
Weighted-average shares of common stock outstanding:
Basic		21,324		21,593		21,584		21,607
Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards		31		139		168		183
Diluted		21,355		21,732		21,752		21,790
Basic earnings per share	$	0.28	$	0.38	$	0.65	$	0.43
Diluted earnings per share	$	0.28	$	0.38	$	0.65	$	0.42
Antidilutive share option awards excluded from diluted calculation		64		154		90		239
Antidilutive nonvested share and nonvested share unit awards excluded from diluted calculation		381		2		135		—

The computation of diluted earnings per share for the 13 and 39 weeks ended October 1, 2017 and October 2, 2016 excludes share option awards that were outstanding and antidilutive (i.e., including such share option awards would result in higher earnings per share), since the exercise prices of these share option awards exceeded the average market price of the Company’s common shares. Additionally, the computation of diluted earnings per share for the periods presented excludes nonvested share awards and nonvested share unit awards that were outstanding and antidilutive, since the grant date fair values of these nonvested share awards and nonvested share unit awards exceeded the average market price of the Company’s common shares.

Related Party Transaction

9 Months Ended

Oct. 01, 2017

Related Party Transaction

(9)	Related Party Transaction

In the third quarter of fiscal 2017, the Company recorded approximately $0.1 million related to the net recovery of short-swing profits under Section 16(b) of the Securities Exchange Act of 1934, as amended. The Company recognized these related party proceeds, net of $0.2 million of related legal fees and taxes, as an increase to additional paid-in capital in the accompanying interim unaudited condensed consolidated balance sheet as of October 1, 2017, as well as cash proceeds of approximately $0.3 million as cash provided by financing activities in the accompanying interim unaudited condensed consolidated statement of cash flows for the 39 weeks ended October 1, 2017.

Commitments and Contingencies

9 Months Ended

Oct. 01, 2017

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

(10)	Commitments and Contingencies

In February 2008, the Company entered into a lease for a parcel of land with an existing building adjacent to its corporate headquarters location, including a parking lot currently used by the Company (the “premises”). The lease term commenced in 2009 and the primary term was originally scheduled to expire on February 28, 2019, subject to renewal for six successive periods of five years each. In accordance with terms of the lease agreement, the Company is committed to the construction of a new retail building on the premises before the primary term expires, regardless of whether or not any renewal options are exercised. In May 2017, the Company entered into an amendment to the lease to, among other things, extend the primary lease term, and consequently the construction deadline, to a date between February 29, 2020 and June 30, 2020, the exact date to be determined as described in more detail below. Such extension required a non-refundable payment of $40,000, which the Company made concurrently with execution of the amendment. The amendment further sets forth the Company’s intent to enter into a purchase and sale agreement, whereby the Company would have the right to purchase the premises for $4.5 million, subject to a 120-day due diligence period. If consummation of the sale fails to occur by June 30, 2018, then the Company’s lease would remain in full force and effect, including the construction deadline, which would be the later of (a) February 29, 2020, or (b) the earlier of (i) two (2) years after the date that the purchase and sale agreement is terminated, or (ii) June 30, 2020. The Company is currently in the process of negotiating the purchase and sale agreement with the owner of the premises.

The Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s results of operations or financial condition.

Share-based Compensation

9 Months Ended

Oct. 01, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-based Compensation

(11)	Share-based Compensation

At its discretion, the Company grants share option awards, nonvested share awards and nonvested share unit awards to certain employees, as defined by ASC 718, Compensation—Stock Compensation, under the Company’s 2007 Equity and Performance Incentive Plan, as amended and restated in April 2011 and April 2016 (the “Amended 2007 Plan”), and accounts for its share-based compensation in accordance with ASC 718. The Company recognized $0.6 million and $1.8 million in share-based compensation expense for the 13 and 39 weeks ended October 1, 2017, respectively, compared to $0.5 million and $1.8 million in share-based compensation expense for the 13 and 39 weeks ended October 2, 2016, respectively.

Share Option Awards

Share option awards granted by the Company generally vest and become exercisable in four equal annual installments of 25% per year with a maximum life of ten years. The exercise price of share option awards is equal to the quoted market price of the Company’s common stock on the date of grant. No share option awards were granted in the first 39 weeks of fiscal 2017 and 2016.

As of October 1, 2017, there was $0.1 million of total unrecognized compensation expense related to nonvested share option awards granted. That expense is expected to be recognized over a weighted-average period of 1.5 years.

Nonvested Share Awards and Nonvested Share Unit Awards

Nonvested share awards and nonvested share unit awards granted by the Company have historically vested from the date of grant in four equal annual installments of 25% per year. In accordance with the Company’s Director Compensation Program, nonvested share awards and nonvested share unit awards granted by the Company to non-employee directors vest 100% on the first anniversary of the grant date.

Nonvested share awards are delivered to the recipient upon their vesting. With respect to nonvested share unit awards, vested shares will be delivered to the recipient on the tenth business day of January following the year in which the recipient’s service to the Company is terminated. The total fair value of nonvested share awards which vested during the first 39 weeks of fiscal 2017 and 2016 was $2.0 million and $1.6 million, respectively. The total fair value of nonvested share unit awards which vested during the first 39 weeks of fiscal 2017 and 2016 was $0.2 million and $0.5 million, respectively.

The Company granted 191,000 and 166,980 nonvested share awards in the first 39 weeks of fiscal 2017 and 2016, respectively. The weighted-average grant-date fair value per share of the Company’s nonvested share awards granted in the first 39 weeks of fiscal 2017 and 2016 was $14.88 and $11.35, respectively.

The Company granted 21,000 and 25,200 nonvested share unit awards in the first 39 weeks of fiscal 2017 and 2016, respectively. The weighted-average grant-date fair value per share of the Company’s nonvested share unit awards granted in the first 39 weeks of fiscal 2017 and 2016 was $13.90 and $8.87, respectively.

The following table details the Company’s nonvested share awards activity for the 39 weeks ended October 1, 2017:

	Shares			Weighted- Average Grant- Date Fair Value
Balance at January 1, 2017		355,130		$	12.86
Granted		191,000			14.88
Vested		(137,135	)		13.46
Forfeited		(21,555	)		13.47
Balance at October 1, 2017		387,440		$	13.61

To satisfy employee minimum statutory tax withholding requirements for nonvested share awards that vest, the Company withholds and retires a portion of the vesting common shares, unless an employee elects to pay cash. In the first 39 weeks of fiscal 2017, the Company withheld 54,012 common shares with a total value of $0.8 million. This amount is presented as a cash outflow from financing activities in the accompanying interim unaudited condensed consolidated statement of cash flows.

As of October 1, 2017, there was $4.0 million and $0.2 million of total unrecognized compensation expense related to nonvested share awards and nonvested share unit awards, respectively. That expense is expected to be recognized over a weighted-average period of 2.6 years and 0.7 years for nonvested share awards and nonvested share unit awards, respectively.

Subsequent Event

9 Months Ended

Oct. 01, 2017

Subsequent Events [Abstract]

Subsequent Event

(12)	Subsequent Event

In the fourth quarter of fiscal 2017, the Company’s Board of Directors declared a quarterly cash dividend of $0.15 per share of outstanding common stock, which will be paid on December 15, 2017 to stockholders of record as of December 1, 2017.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Oct. 01, 2017

Accounting Policies [Abstract]

Consolidation

Reporting Period

Recently Adopted Accounting Updates

•

The Company elected to continue to estimate the total number of awards for which the service period will not be rendered, which resulted in no change to the Company’s Interim Financial Statements.

•

The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Updates

Other recently issued accounting updates are not expected to have a material impact on the Company’s consolidated financial statements.

Use of Estimates

Revenue Recognition

The Company records sales tax collected from its customers on a net basis, and therefore excludes it from revenue as defined in Accounting Standards Codification (“ASC”) 605, Revenue Recognition.

Share-Based Compensation

Valuation of Merchandise Inventories, Net

Valuation of Long-Lived Assets

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

The Company recognized no impairment charges in the first 39 weeks of fiscal 2017 or 2016.

Leases and Deferred Rent

The Company accounts for its leases under the provisions of ASC 840, Leases.

Store Closing Costs (Tables)

9 Months Ended

Oct. 01, 2017

Restructuring And Related Activities [Abstract]

Schedule of Activity for Company Store Closing Reserves

The following table summarizes the activity for the Company’s store closing reserves:

	Lease Termination Costs
	(In thousands)
Balance at January 1, 2017	$	788
Store closing costs		(137	)
Payments		(600	)
Balance at October 1, 2017	$	51

Accrued Expenses (Tables)

9 Months Ended

Oct. 01, 2017

Payables And Accruals [Abstract]

Summary of Accrued Expenses

The major components of accrued expenses are as follows:

	October 1, 2017		January 1, 2017
	(In thousands)
Payroll and related expense	$	22,528	$	24,224
Occupancy expense		10,886		10,981
Sales tax		8,022		11,376
Other		24,599		30,306
Accrued expenses	$	66,035	$	76,887

Long-Term Debt (Tables)

9 Months Ended

Oct. 01, 2017

Average Daily Excess Availability for Preceding Fiscal Quarter

Prior to the Third Amendment, the applicable margin for all loans under the existing Credit Agreement was as set forth below as a function of Average Daily Availability for the preceding fiscal quarter.

Level	Average Daily Availability	LIBO Rate Applicable Margin		Base Rate Applicable Margin
I	Greater than or equal to $100,000,000		1.25%		0.25%
II	Less than $100,000,000 but greater than or equal to $40,000,000		1.50%		0.50%
III	Less than $40,000,000		1.75%		0.75%

Third Amendment to Credit Agreement [Member]

Average Daily Excess Availability for Preceding Fiscal Quarter

The applicable margin for all loans will be a function of Average Daily Availability for the preceding fiscal quarter as set forth below.

Level

Average Daily Availability

LIBO Rate

Applicable Margin

Base Rate

Applicable Margin

Greater than or equal to $70,000,000

1.25%

0.25%

Less than $70,000,000

1.375%

0.50%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Earnings Per Share (Tables)

9 Months Ended

Oct. 01, 2017

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:

	13 Weeks Ended				39 Weeks Ended
	October 1, 2017		October 2, 2016		October 1, 2017		October 2, 2016
	(In thousands, except per share data)

Net income	$	5,950	$	8,187	$	14,054	$	9,192
Weighted-average shares of common stock outstanding:
Basic		21,324		21,593		21,584		21,607
Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards		31		139		168		183
Diluted		21,355		21,732		21,752		21,790
Basic earnings per share	$	0.28	$	0.38	$	0.65	$	0.43
Diluted earnings per share	$	0.28	$	0.38	$	0.65	$	0.42
Antidilutive share option awards excluded from diluted calculation		64		154		90		239
Antidilutive nonvested share and nonvested share unit awards excluded from diluted calculation		381		2		135		—

Share-based Compensation (Tables)

9 Months Ended

Oct. 01, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Nonvested Share Awards Activity

The following table details the Company’s nonvested share awards activity for the 39 weeks ended October 1, 2017:

	Shares			Weighted- Average Grant- Date Fair Value
Balance at January 1, 2017		355,130		$	12.86
Granted		191,000			14.88
Vested		(137,135	)		13.46
Forfeited		(21,555	)		13.47
Balance at October 1, 2017		387,440		$	13.61

Description of Business - Additional Information (Detail)	9 Months Ended
	Oct. 01, 2017 ft² Store Segment
Description Of Business [Line Items]
Number of operating stores \| Store	432
Area of traditional sporting goods store \| ft²	11,000
Number of reportable segment \| Segment	1
Big 5 Corp [Member]
Description Of Business [Line Items]
Subsidiary interest ownership percentage	100.00%
Big 5 Service Corp [Member]
Description Of Business [Line Items]
Subsidiary interest ownership percentage	100.00%

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended		12 Months Ended
	Oct. 01, 2017	Apr. 02, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016	Jan. 01, 2017
Accounting Policies [Line Items]
Reporting period, minimum				364 days
Reporting period, maximum				371 days
Unrecognized tax benefits		$ 0
Cumulative effect adjustment to retained earnings		$ 0
Estimated gift card redemption period				20 quarters
Outstanding gift card liabilities	$ 4,100,000			$ 4,100,000		$ 5,300,000
Long-lived assets to be held and used	500,000			500,000
Impairment charges				0	$ 0
Gift Card Breakage Revenue [Member]
Accounting Policies [Line Items]
Recognized gift card breakage revenue	$ 111,000		$ 112,000	$ 334,000	$ 337,000
First Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods				91 days		91 days
Second Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods				91 days		91 days
Third Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods				91 days		91 days
Fourth Quarter [Member]
Accounting Policies [Line Items]
Interim reporting periods				91 days		91 days

Store Closing Costs - Schedule of Activity for Company Store Closing Reserves (Detail) - Lease Termination Costs [Member] $ in Thousands	9 Months Ended
	Oct. 01, 2017 USD ($)
Restructuring Cost And Reserve [Line Items]
Balance at January 1, 2017	$ 788
Store closing costs	(137)
Payments	(600)
Balance at October 1, 2017	$ 51

Store Closing Costs - Additional Information (Detail)	9 Months Ended
Store Closing Costs - Additional Information (Detail)	Oct. 01, 2017 Store
Restructuring And Related Activities [Abstract]
Number of underperforming stores closed	2

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Oct. 01, 2017	Jan. 01, 2017
Payables And Accruals [Abstract]
Payroll and related expense	$ 22,528	$ 24,224
Occupancy expense	10,886	10,981
Sales tax	8,022	11,376
Other	24,599	30,306
Accrued expenses	$ 66,035	$ 76,887

Long-Term Debt - Additional Information (Detail) - USD ($)		9 Months Ended
	Oct. 01, 2017	Oct. 01, 2017	Jan. 01, 2017
Debt Instrument [Line Items]
Credit Agreement description		On October 18, 2010, the Company, Big 5 Corp. and Big 5 Services Corp. entered into a credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and a syndicate of other lenders, which was amended on October 31, 2011 and December 19, 2013 (as so amended, the “Credit Agreement”). On September 29, 2017, the parties amended certain provisions of the Credit Agreement (such amendment, the “Third Amendment”), as further discussed below.
Revolving credit facility	$ 140,000,000	$ 140,000,000
First tier of increase to the borrowing capacity	165,000,000	165,000,000
Maximum limit of credit facility	200,000,000	200,000,000
Sublimit for issuances of letters of credit	50,000,000	50,000,000
Sublimit for swingline loans	$ 20,000,000	$ 20,000,000
Percentage of eligible credit card accounts receivables	90.00%	90.00%
Percentage of the value of eligible inventory		90.00%
Percentage of the value of eligible in-transit inventory		90.00%
Eligible in-transit inventory threshold	$ 10,000,000	$ 10,000,000
Debt instrument, covenant description		Obligations under the Credit Facility are secured by a general lien and perfected security interest in substantially all of the Company’s assets. The Credit Agreement contains covenants that require the Company to maintain a fixed charge coverage ratio of not less than 1.0:1.0 in certain circumstances, and limit the ability
Events of default, description		The Credit Agreement contains customary events of default, including, without limitation, failure to pay when due principal amounts with respect to the Credit Facility, failure to pay any interest or other amounts under the Credit Facility for five days after becoming due, failure to comply with certain agreements or covenants contained in the Credit Agreement, failure to satisfy certain judgments against the Company, failure to pay when due (or any other default which does or may lead to the acceleration of) certain other material indebtedness in principal amount in excess of $5.0 million, and certain insolvency and bankruptcy events.
Line of Credit Facility default debt minimum amount	5,000,000	$ 5,000,000
Maturity date of Credit Agreement		Dec. 19, 2018
Long-term borrowings	46,427,000	$ 46,427,000	$ 10,000,000
Letter of credit commitments	500,000	500,000	500,000
Revolving Credit Borrowings [Member]
Debt Instrument [Line Items]
Long-term borrowings	$ 46,400,000	$ 46,400,000	10,000,000
Third Amendment to Credit Agreement [Member]
Debt Instrument [Line Items]
Maturity date of Credit Agreement		Sep. 29, 2022
Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	100.00%	100.00%
First Amendment to Credit Agreement [Member]
Debt Instrument [Line Items]
Credit agreement amendment date		Oct. 31, 2011
Second Amendment to Credit Agreement [Member]
Debt Instrument [Line Items]
Credit agreement amendment date		Dec. 19, 2013
Interest rate, description		the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the LIBO rate, as adjusted to account for statutory reserves, plus one percent (1.00%), or (c) the rate of interest in effect for such day as publicly announced from time to time by Wells Fargo as its “prime rate.”
Commitment fee assessed		0.25%
Second Amendment to Credit Agreement [Member] \| Federal Funds Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate		0.50%
Second Amendment to Credit Agreement [Member] \| LIBO Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate		1.00%
Third Amendment to Credit Agreement [Member]
Debt Instrument [Line Items]
Credit agreement amendment date		Sep. 29, 2017
Revolving credit facility	$ 100,000,000	$ 100,000,000
Sublimit for issuances of letters of credit	$ 25,000,000	$ 25,000,000
Interest rate, description		the applicable margin for base rate loans (as shown below) plus the highest of (a) the Federal funds rate, as in effect from time to time, plus one-half of one percent (0.50%), (b) the LIBO rate, plus one percentage point (1.00%), or (c) the rate of interest in effect for such day as announced from time to time within Wells Fargo as its “prime rate.”
Commitment fee assessed	0.20%
Third Amendment to Credit Agreement [Member] \| Federal Funds Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate		0.50%
Third Amendment to Credit Agreement [Member] \| LIBO Rate [Member]
Debt Instrument [Line Items]
Applicable margin in addition to variable rate		1.00%
Wells Fargo Bank National Association [Member]
Debt Instrument [Line Items]
Remaining borrowing availability	$ 93,100,000	$ 93,100,000	$ 129,500,000

Long-Term Debt - Average Daily Excess Availability for Preceding Fiscal Quarter (Detail)	9 Months Ended
	Oct. 01, 2017
Second Amendment to Credit Agreement [Member] \| Level I [Member]
Line of Credit Facility [Line Items]
Average Daily Availability	Greater than or equal to $100,000,000
LIBO Rate Applicable Margin	1.25%
Base Rate Applicable Margin	0.25%
Second Amendment to Credit Agreement [Member] \| Level II [Member]
Line of Credit Facility [Line Items]
Average Daily Availability	Less than $100,000,000 but greater than or equal to $40,000,000
LIBO Rate Applicable Margin	1.50%
Base Rate Applicable Margin	0.50%
Second Amendment to Credit Agreement [Member] \| Level III [Member]
Line of Credit Facility [Line Items]
Average Daily Availability	Less than $40,000,000
LIBO Rate Applicable Margin	1.75%
Base Rate Applicable Margin	0.75%
Third Amendment to Credit Agreement [Member] \| Level I [Member]
Line of Credit Facility [Line Items]
Average Daily Availability	Greater than or equal to $70,000,000
LIBO Rate Applicable Margin	1.25%
Base Rate Applicable Margin	0.25%
Third Amendment to Credit Agreement [Member] \| Level II [Member]
Line of Credit Facility [Line Items]
Average Daily Availability	Less than $70,000,000
LIBO Rate Applicable Margin	1.375%
Base Rate Applicable Margin	0.50%

Income Taxes - Additional Information (Detail) - USD ($)	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Jan. 01, 2017
Income Tax Contingency [Line Items]
Deferred tax assets valuation allowance	$ 0		$ 0
Write-off of deferred tax assets related to share based compensation		$ 800,000
Unrecognized tax benefits	$ 0		0
Unrecognized tax benefits, period	Over the next 12 months
Accrued interest or penalties	$ 0		$ 0
Earliest Tax Year [Member] \| Federal [Member]
Income Tax Contingency [Line Items]
Income tax returns in period	2014
Earliest Tax Year [Member] \| State and Local [Member]
Income Tax Contingency [Line Items]
Income tax returns in period	2012

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Earnings Per Share Basic [Line Items]
Net income	$ 5,950	$ 8,187	$ 14,054	$ 9,192
Weighted-average shares of common stock outstanding:
Basic	21,324	21,593	21,584	21,607
Dilutive effect of common stock equivalents arising from share option, nonvested share and nonvested share unit awards	31	139	168	183
Diluted	21,355	21,732	21,752	21,790
Basic earnings per share	$ 0.28	$ 0.38	$ 0.65	$ 0.43
Diluted earnings per share	$ 0.28	$ 0.38	$ 0.65	$ 0.42
Share Option Awards [Member]
Weighted-average shares of common stock outstanding:
Antidilutive shares/unit awards excluded from diluted calculation	64	154	90	239
Nonvested Share Awards and Nonvested Share Unit Awards [Member]
Weighted-average shares of common stock outstanding:
Antidilutive shares/unit awards excluded from diluted calculation	381	2	135

Related Party Transaction - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2017	Oct. 01, 2017
Related Party Transactions [Abstract]
Net Recovery of short swing profits	$ 100	$ 136
Related legal fees and taxes		200
Cash proceeds provided by financing activities		$ 346

Commitments and Contingencies - Additional Information (Detail)		9 Months Ended
	Feb. 29, 2008 Time	Oct. 01, 2017 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Lease expiration date	Feb. 28, 2019
Number of times lease can be renewed \| Time	6
Lease renewal period	5 years
Lease amendment description		In May 2017, the Company entered into an amendment to the lease to, among other things, extend the primary lease term, and consequently the construction deadline, to a date between February 29, 2020 and June 30, 2020
Non refundable payment		$ 40,000
Purchase the premises		$ 4,500,000
Due diligence period		120 days
Sale agreement termination, date		June 30, 2020

Share-based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 600	$ 500	$ 1,800	$ 1,800
Shares withheld for tax requirements			54,012
Tax withholding payments for share-based compensation			$ 805	$ 613
Share Option Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum expiration period of share based payment awards granted			10 years
Granted, shares			0	0
Unrecognized compensation expense	100		$ 100
Weighted-average period of recognition			1 year 6 months
Share Option Awards [Member] \| Share-based Compensation Award, Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights (as percentage)			25.00%
Performance Shares [Member] \| Share-based Compensation Award, Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights (as percentage)			25.00%
Performance Shares [Member] \| Share-based Compensation Award, Tranche One [Member] \| Non-Employee Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights (as percentage)			100.00%
Nonvested Share Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition			2 years 7 months 7 days
Fair value of nonvested share awards			$ 2,000	$ 1,600
Issuance of nonvested share awards, Shares			191,000	166,980
Weighted-average grant-date fair value per share, granted			$ 14.88	$ 11.35
Unrecognized compensation expenses	4,000		$ 4,000
Nonvested Share Unit Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition			8 months 13 days
Fair value of nonvested share awards			$ 200	$ 500
Issuance of nonvested share awards, Shares			21,000	25,200
Weighted-average grant-date fair value per share, granted			$ 13.90	$ 8.87
Unrecognized compensation expenses	$ 200		$ 200

Share-based Compensation - Summary of Nonvested Share Awards Activity (Detail) - Nonvested Share Awards [Member] - $ / shares	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares/share units, beginning balance	355,130
Granted, shares/share units	191,000	166,980
Vested, shares/share units	(137,135)
Forfeited, shares/share units	(21,555)
Nonvested shares/share units, ending balance	387,440
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-Average Grant-Date Fair Value, Beginning Balance	$ 12.86
Weighted-Average Grant-Date Fair Value, Granted	14.88	$ 11.35
Weighted-Average Grant-Date Fair Value, Vested	13.46
Weighted-Average Grant-Date Fair Value, Forfeited	13.47
Weighted-Average Grant-Date Fair Value, Ending Balance	$ 13.61

Subsequent Event - Additional Information (Detail) - Scenario Forecast [Member]	3 Months Ended
	Dec. 31, 2017 $ / shares
Subsequent Event [Line Items]
Dividend per share	$ 0.15
Dividend declared per share, payable date	Dec. 15, 2017
Dividend declared per share, record date	Dec. 01, 2017