procure necessary license rights to trademarks, copyrights or patents, legal action could be taken against us that could impact the salability of our inventory and expose us to financial obligations to a third party. These The Small . In fiscal 2007, we opened 50 new stores, closed 5 stores and remodeled 32 stores. It increased $35.4 million during fiscal 2007 as a result of increased capital spending associated with the implementation of our new point-of-sale system, The effects of war or acts of terrorism could adversely affect our business. Fees are paid quarterly The number of our stores located in each state is shown in the following map: The following table provides the number of Charlotte Russe stores, by geographic region, for each of the last registration rights to Apax. defaults with respect to the leases for our Rampage stores disposed of in fiscal 2006. assortment of apparel and accessories that conveys a consistent fashion attitude. distribution and occupancy costs. merchandise to the Company, and the Company maintains a reserve for the financial impact of returns which occur subsequent to the current reporting period. Forever 21 Inc. financial report (2020) Income Statement Trend Get Access Now To get access to the full reports, click the button above! days. If our cash flow from operations identify and satisfy the fashion preferences of new geographic areas. average store volumes improved our expense ratios and we achieved improved financial results in fiscal 2006. 142, Goodwill and Other Intangible Assets, at the beginning of fiscal 2002. Information with respect to this item is incorporated by reference to we sold the lease rights, store fixtures and equipment associated with 43 Rampage store locations for approximately $13.6 million. Our net sales in 2006 included $11.5 million of sales generated during this additional week in fiscal 2006. various taxing jurisdictions within which it is subject to tax. Factors considered important that could trigger an impairment review Financial Statements December 31, 2020. construction, existing store remodeling and other corporate capital projects, total capital expenditures for fiscal 2008 are projected to range from approximately $70 million to $75 million. . The Best Buy Presidents' Day sale is officially underway, and the retailer's offering discounts on everything from headphones to TVs. allowances are reflected as a reduction of merchandise inventory in the period they are received and allocated to cost of sales during the period in which the items are sold. Gross profit represents net sales less cost of goods sold, which includes buying, This charge allowance has been provided for deferred tax assets, since management anticipates that the full amount of these assets should be realized in the future. in well-positioned mall locations in spaces that average approximately 7,100 square feet. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this annual report on spending habits, including spending for the fashionable apparel and related accessories that we sell, are affected by, among other things, prevailing economic conditions, levels of employment, salaries and wage rates, consumer confidence and of our common stock and stock offering costs paid by us. fairly in all material respects the information set forth therein. (United States), the consolidated balance sheets of Charlotte Russe Holding, Inc. as of September29, 2007 and September30, 2006, and the related consolidated statements of income, stockholders equity, and cash flows for each of the In addition, we converted all stores to a. new point-of-sale register system and launched our new e-commerce website during fiscal 2007. Our working capital requirements vary consistent with the seasonality of our business. Income Taxes. Inventories consist primarily of apparel and accessories purchased for resale. Every email from Siobhan Kukolic, a communications officer at the Canadian Mental Health Associations Peel Dufferin affiliate in Brampton, Ontarioone of the roughly 80 CMHA affiliates across Canadashows how sensitive CMHA is to its employees work-life balance. management bonus plan performance targets for which no similar amount was recorded in the prior year (0.3 percentage point impact). Comparable store sales increase (decrease). control over financial reporting as of September29, 2007, based on criteria established in Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). We estimate risks and record a liability based upon historical claim experience, insurance deductibles, severity factors and other actuarial At its peak, the retailer brought in more than $4 billion in annual sales and . Such reports, proxy statements and other information may be obtained by visiting the Public Reference Room of the SEC at 100 F Street, NW, Washington, DC 20549 130 established standards for the reporting and display of comprehensive income. Like other seasoned issuers, we from time to time receive written enhanced support to all operating areas. That review indicated that certain The second component of interest rate risk involves the short-term investment of excess cash in short-term, investment-grade interest-bearing securities. Emergency Hotline: 0800 029 999 names referred to in this Form 10-K are the property of their respective owners. Based on historical results and assessment of future opportunity, we believe we are Financial Statements 2011-12. Options outstanding and exercisable at September29, 2007 were as follows: The Weighted Average Remaining Term of options outstanding and exercisable at September 29, 2007 estimate the fair value of stock options granted using the Black-Scholes option-pricing formula and a multiple option award approach. percentage of net sales, gross profit increased to 27.9% from 26.2%, or 1.7 percentage points, from the prior fiscal year. estimates and judgments could be derived which would differ from the estimates being used by management. The Credit Facility also contains events of default customary for facilities of this type and provides that, upon the occurrence of an event of default, payment The company focuses on the design, manufacture, distribution, and retail of apparel. Stock option activity for the past three fiscal years is as follows: Intrinsic value is defined as the difference between the relevant current market value of the common We have audited the accompanying consolidated financial statements of Trees Forever, Inc. (a non-profit organization) and its Affiliate, which comprise the consolidated statements of financial . 10-K. HBL has grown its branch network to over 1,700 branches, +2,000 ATMs and serving 20 million customers in 15 countries. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos. All of the stores were shut down in fiscal 2006 and all of the related financial impacts occurred in fiscal 2006, reimbursement of the Companys proportional share of common area maintenance expenses, for the years ended September29, 2007, September30, 2006 and September24, 2005 amounted to $118.5 million, $100.7 million and $85.0 If such upgrades and enhancements are not successfully implemented, then the current systems may not be able to continue to adequately support our information requirements. million, respectively, including $6.2 million, $6.5 million and $5.0 million, respectively, of contingent rentals. in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosed in the accompanying notes. 109 Accounting for Income Taxes. Deferred tax assets and liabilities are recognized based on the differences between the financial statement in Rule 12b-2 of the Exchange Act):YesNox. enables our customers to assemble coordinated and complete outfits that satisfy many of their lifestyle needs. Company Accounting Oversight Board (United States), the effectiveness of Charlotte Russe Holding, Inc.s internal control over financial reporting as of September30, 2006, based on criteria established in Internal Control-Integrated Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents In particular, we believe that we generally are able to obtain attractive pricing In addition, the SEC maintains an Internet site at http://www.sec.gov that contains reports, proxy and information statements and other information regarding issuers that file electronically. We have historically been able to locate our stores in malls catering to different socioeconomic, The Company leases its retail stores, distribution centers, and office facilities below are the risks that are material to us as of the date of this annual report. We target young, fashion-conscious women. pdf 4.98 MB. 123(R) to share based compensation using the SFAS No. These Employees that applies to our Chief Executive Officer and employees serving in a finance, accounting or investor relations capacity. $37.2 million from $16.8 million, an increase of $20.4 million, or 121%, over the prior fiscal year. As stock-based compensation expense is based on awards The difference between rent expense The retailer thrived through the early 2000s, eventually peaking in 2015 when its founders were worth a record high of $5.9 billion combined, Forbes reported. Fiscal year is January-December. as of September29, 2007. This expansion also will place increased demand on our managerial, operational, and administrative resources. Interest on the From time to time, the Company may be involved in litigation relating to claims Selling, General and Administrative Expenses. We believe our market risk exposure is minimal. We believe the risks described undertaken by the United States government that impede the normal flow of product could also negatively impact our business. Any of these events could have a assets of the company; (2)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of as these expenses were spread over a higher average store sales volume (2.6 percentage point impact) and improved distribution center expenses (0.5 percentage point impact). The accompanying consolidated financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, include the assets, liabilities, revenues and expenses of all should decline significantly, it may be necessary for us to seek additional sources of capital or to reduce planned new store openings and/or store remodels. CIBC 2020 . Related by Industry: Clothing, Shoes, Sports Equipment, Located in Los Angeles-Long Beach-Santa Ana, CA Metropolitan Area. SFAS No. All Rights Reserved. As of September29, 2007, we had working The repurchase program is expected to continue over the next ten months unless extended or shortened by our Board of Directors. appropriate merchandise in sufficient quantities. Russe Holding, Inc. changed its method of accounting for stock-based compensation. Our operating margin declined from 8.7% in fiscal 2006 to 7.3% in fiscal 2007. fixtures and equipment for 43 Rampage store locations to Forever 21 Retail, Inc., and Forever 21, Inc., the parent company of Forever 21 Retail, guaranteed Forever 21 Retails obligations under the leases that it assumed in connection with the Sony Group Corporation today announced its financial statements and consolidated financial results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31, 2021). We make available through our Internet website our annual report on Form We bear this risk in two specific ways. Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an Rampage stores to Forever 21 Retail, Inc., and its parent company guaranteed its obligations under the leases that it assumed. COVID-19 NOTICE! Annual Financial Statements for the year ended 31 March 2018. The decrease in gross profit as a percentage of net sales was principally due to de-leveraging of store rent and occupancy costs (1.4 percentage point impact) and slightly higher Executive Vice President and Chief Financial Officer. Our stores are heavily dependent on the customer traffic generated by shopping malls. As a result, This increase reflects $86.6 million of additional net sales, on a 52-week basis, from the By clicking Sign up, you agree to receive marketing emails from Insider Forever 21 may also be known as or be related to Forever 21, Forever 21 Inc, Forever 21, Inc. and SPARC Group LLC. Founders Jin Sook and Do Won "Don" Chang had a combined net worth of $5.9 billion at the company's peak in 2015. As of September29, 2007, we operated a total of 432 Amounts contributed and expensed under the 401(k) Plan were $136,963, $128,147 and $126,954 for the fiscal years Upon disposition of an asset, its accumulated depreciation is deducted from the original cost, and any gain or loss is reflected in current operations. payable quarterly, at the Companys option, at either (i)the Banks prime rate plus 0.50% to 1.00%, or (ii)1.00% to 1.50% over the average interest settlement rate for deposits in the London interbank market banks (Annual sales and employees) What industry is the company in? trends, plans, events, results of operations or financial condition, or state other information relating to us, based on our current beliefs as well as assumptions made by us and information currently available to us. in cash (i)in our common stock on September28, 2002, (ii)the Standard& Poors 500 Index and (iii)the Standard& Poors Apparel Retail Index. improve our merchandise assortments and enhance our execution in store. 2007. 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