Build-A-Bear Workshop 2014 Annual Report Download - page 29

(1) Retail gross margin represents net retail sales less cost of retail merchandise
sold, which excludes cost of wholesale merchandise sold. Retail gross margin
percentage represents retail gross margin divided by net retail sales.
(2) Capital expenditures consist of leasehold improvements, furniture and fixtures,
land, buildings, computer equipment and software purchases, as well as
trademarks, intellectual property and deferred leasing fees.
(3) Excludes our web stores. North American stores are located in the United
States, Canada and Puerto Rico. In Europe, stores are located in the United
Kingdom, Ireland and, prior to 2011, France.
(4) Square footage for stores located in Europe is estimated selling square footage.
(5) Average net retail sales per store represents net retail sales only from stores
open throughout the entire period in North America divided by the total number
of such stores.
(6) Net retail sales per gross square foot in North America represents net retail
sales from stores open throughout the entire period in North America divided
by the total gross square footage of such stores.
(7) Net retail sales per selling square foot in Europe represents net retail sales from
stores open throughout the entire period in Europe divided by the total selling
square footage of such stores.
(8) Comparable store sales percentage changes are based on net retail sales.
Stores are considered comparable beginning in their thirteenth full month of
operation.
(9) Excludes our web stores and temporary and seasonal locations.
Selected Financial Data (continued)
(Dollars in thousands, except share, per share,
per store and per gross square foot data)
Fiscal Year
2014 2013 2012 2011 2010
Other financial data:
Retail gross margin ($) (1) $176,838 $ 153,477 $ 145,687 $ 154,468 $ 155,128
Retail gross margin (%) (1) 45.6% 41.1% 38.9% 39.9% 40.1%
Capital expenditures, net (2) $10,890 $ 19,362 $ 17,268 $ 12,248 $ 14,649
Depreciation and amortization 18,128 19,216 21,422 24,232 26,976
Cash flow data:
Cash flows provided by operating activities $34,884 $ 19,058 $ 16,542 $ 17,23 4 $ 22,021
Cash flows used in investing activities $(11,789)$ (19,362)$ (15,096)$ (13,318) $ (13,766)
Cash flows (used in) provided by financing activities $(1,783)$ 132 $ (2,902) $ (15,811) $ (7, 216)
Store data (3):
Number of stores at end of period
North America - Traditional 245 253 283 287 290
North America - Non-traditional 20 10 8
11 15
Total North America 265 263 291
298 305
Europe - Traditional 57 58 58 56 52
Europe - Non-traditional 2 2 2
2 2
Total Europe 59 60 60 58 54
Total stores 324 323 351
356 359
Square footage at end of period (4)
North America - Traditional 688,633 716,098 805,770 829,449 841,600
North America - Non-traditional 37,309 19,507 12,610
18,956 32,950
Total North America 725,942 735,605 818,380
848,405 874,550
Europe - Traditional 82,863 84,933 84,405 81,705 75,588
Europe - Non-traditional 1,926 1,926 1,926
2,206 2,206
Total Europe 84,789 86,859 86,331 83,911 7 7,794
Total square footage 810,731
822,464 904,711 932,316 952,344
Average net retail sales per store: (5) (9)
North America $1,158 $ 1,080 $ 1,003 $ 1,021 $ 1,030
Europe £809 £ 755 £ 736 £ 810 £ 790
Net retail sales per gross square foot: (9)
North America (6) $ 409 $ 381 $ 350 $ 354 $ 356
Europe (7) £567 £ 525 £ 511 £ 562 £ 551
Consolidated comparable store sales change (%) (8) (9) 1.6% 5.1% (3.3)% (2.1)% (2.0)%
Balance sheet data:
Cash and cash equivalents $ 65,389 $ 44,665 $ 45,171 $ 46,367 $ 58,755
Working capital 46,691 30,353 30,503 37,610 51,671
Total assets 212,054 195,611 192,102 241,571 275,794
Total stockholders' equity 97,625 84,390 83,137 129,243 1 57,713
BUILD-A-BEAR WORKSHOP, INC. 2014 ANNUAL REPORT 17