Pottery Barn 2009 Annual Report Download - page 74
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Segment Information
Dollars in thousands Retail1
Direct-to-
Customer Unallocated Total
2009 (52 Weeks)
Net revenues $1,878,034 $1,224,670 $ — $3,102,704
Depreciation and amortization expense 97,978 20,965 32,853 151,796
Earnings (loss) before income taxes2, 3 133,486 210,702 (223,899) 120,289
Assets4900,574 258,188 920,407 2,079,169
Capital expenditures 43,095 12,991 16,177 72,263
2008 (52 Weeks)
Net revenues $1,962,498 $1,398,974 $ — $3,361,472
Depreciation and amortization expense 99,065 21,142 27,876 148,083
Earnings (loss) before income taxes5, 6 41,293 183,237 (182,577) 41,953
Assets41,047,448 295,022 592,994 1,935,464
Capital expenditures 145,456 17,283 29,050 191,789
2007 (53 Weeks)
Net revenues $2,281,218 $1,663,716 $ — $3,944,934
Depreciation and amortization expense 96,129 19,328 25,244 140,701
Earnings (loss) before income taxes 253,834 267,470 (204,964) 316,340
Assets41,143,910 378,520 571,424 2,093,854
Capital expenditures 134,158 24,393 53,473 212,024
1Net revenues include $84.2 million, $79.9 million and $87.3 million in fiscal 2009, fiscal 2008 and fiscal 2007, respectively, related to our
foreign operations.
2Includes asset impairment and lease termination charges of $35.0 million in the retail channel related to our underperforming retail stores.
3Unallocated costs before income taxes includes $7.6 million in lease termination charges related to the exit of excess distribution capacity
and a $1.9 million benefit representing Visa/MasterCard litigation settlement income.
4Includes $29.6 million, $28.3 million and $30.7 million of long-term assets in fiscal 2009, fiscal 2008 and fiscal 2007, respectively, related
to our foreign operations.
5In the retail channel, includes asset impairment charges of $34.0 million related to our underperforming retail stores and a $9.4 million
benefit related to an incentive payment received from a landlord to compensate us for terminating a store lease prior to its original
expiration.
6Unallocated costs before income taxes in fiscal 2008 includes an approximate $16.0 million benefit related to a gain on sale of our
corporate aircraft, an $11.0 million benefit related to the reversal of expense associated with certain performance-based stock awards and
severance and lease termination related costs of $12.7 million associated with our infrastructure cost reduction program (See Note N).
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