Build-A-Bear Workshop 2014 Annual Report Download - page 36

The following table sets forth a reconciliation of store contribution to net income for our company-owned stores located in the United States,
Canada and Puerto Rico (North America), stores located in the United Kingdom and Ireland (Europe) and for our consolidated store base (dollars
in thousands):
(1) General and administrative expenses consist of non-store, central oce general and administrative functions such as management payroll and related benefits, travel,
information systems, accounting, purchasing and legal costs as well as the depreciation of central oce assets as well as the amortization of intellectual property and
other assets, store closing and pre-opening expenses. Certain intercompany charges are included in general and administrative expenses in Europe. General and
administrative expenses also include a central oce marketing department, primarily payroll and related benefits expense, but exclude advertising expenses, which are
included in store contribution.
(2) Other retail activities are comprised primarily of our web stores, stores not open for the full year and adjustments to deferred revenue.
(3) Other contribution includes franchising, commercial revenues and intercompany revenues and all expenses attributable to the international franchising and commercial
segments, excluding interest expense/income and income tax expense/benefit. Interest expense/income and income tax expense/benefit related to franchising and
commercial activities are included in their respective captions.
(4) Other revenues from external customers are comprised of international franchising and commercial revenues.
(5) Goodwill impairment represents the write-o of the goodwill associated with the UK reporting unit.
Fiscal 2014 Fiscal 2013
North North
America Europe Total America Europe Total
Net income (loss) $12,035 $2,327 $14,362 $(1,953) $ (159) $ (2,112)
Income tax expense (benefit) 1,062 600 1,662 241 (247) (6)
Interest expense (income) 9 44 53 (172) (87) (259)
General and administrative expense (1) 48,029 5,288 53,317 47,803 5,146 52,949
Contribution from other retail activities (2) (5,693 ) (1,490 ) (7,183 ) (4,630 ) (207) (4,837)
Other contribution (3) (4,281
) 67 (4,214) (5,510 ) - (5,510)
Store contribution $51,161 $6,836 $57,997 $35,779 $4,446 $40,225
Total revenues from external customers $310,863 $81,491 $ 392,354 $304,956 $74,113 $379,069
Revenues from other retail activities (2) (28,112)(4,360)(32,472)(37, 886)(4,077)(41,963)
Other revenues from external customers (4) (4,629) - (4,629) (5,896) - (5,896)
Store location net retail sales $278,122 $77,131 $ 355,253 $261,174 $70,036 $331,210
Store contribution as a percentage of store location
net retail sales 18.4 % 8.9 % 16.3 % 13.7 % 6.3 % 12.1 %
Total net income (loss) as a percentage of total revenues 3.9 % 2.9 % 3.7 % (0.6 )% (0.2 )% (0.6)%
Fiscal 2012
North
America Europe Total
Net loss $(13,955) $ (35,340 ) (49,295)
Income tax expense (benefit) (85 ) 951 866
Interest expense (income) 63 (60) 3
Goodwill impairment (5) - 33,670 33,670
General and administrative expense(1) 43,975 6,705 50,680
Contribution from other retail activities(2) (2,755 ) (1,017 ) (3,772 )
Other contribution (5) (2,487) - (2,487)
Store contribution $24,756 $4,909 $ 29,665
Total revenues from external customers $ 309,141 $ 71,800 $ 380,941
Revenues from other retail activities (2) (25,045) (4,023 )(29,068)
Other revenues from external customers(4) (6,388) - (6,388)
Store location net retail sales $ 277,708 $67,777 $ 345,485
Store contribution as a percentage of store location
net retail sales 8.9 % 7. 2 %8.6 %
Total net loss as a percentage of total revenues (4.5)% (49.2)% (12.9 )%
Non-GAAP Financial Measures (continued)
24 BUILD-A-BEAR WORKSHOP, INC. 2014 ANNUAL REPORT