Stein Mart 2013 Annual Report Download - page 11
Download and view the complete annual report
Please find page 11 of the 2013 Stein Mart annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.
UHJXODWLRQV DQG GLVFORVXUH REOLJDWLRQV $GGLWLRQDO OHJDO RU UHJXODWRU\ UHTXLUHPHQWV RU PRUH VWULQJHQW LQWHUSUHWDWLRQV RI DSSOLFDEOH
UHTXLUHPHQWVFRXOGLQFUHDVH WKHFRPSOH[LW\RI WKHUHJXODWRU\HQYLURQPHQWLQZKLFK ZHRSHUDWH DQGWKHFRVW RIFRPSOLDQFH )DLOXUHWR
FRPSO\ZLWKWKHYDULRXVODZVDQGUHJXODWLRQVDVZHOODVFKDQJHVLQODZVDQGUHJXODWLRQVFRXOGKDYHDQDGYHUVHLPSDFWRQRXUUHSXWDWLRQ
RSHUDWLRQVRUILQDQFLDOUHVXOWV
7KH6(&,QYHVWLJDWLRQFRXOGPDWHULDOO\DQGDGYHUVHO\DIIHFWRXUEXVLQHVVRXUILQDQFLDOFRQGLWLRQDQGUHVXOWVRIRSHUDWLRQV2Q
-XO\WKH6(&LQIRUPHGWKH&RPSDQ\WKDWLWZDVFRQGXFWLQJDQLQYHVWLJDWLRQRIWKH&RPSDQ\DQGPDGHDUHTXHVWIRUYROXQWDU\
SURGXFWLRQRIGRFXPHQWVDQGLQIRUPDWLRQ%DVHGXSRQWKHUHTXHVWWKH&RPSDQ\EHOLHYHVWKHLQYHVWLJDWLRQLVIRFXVHGRQWKH&RPSDQ\¶V
UHFHQWUHVWDWHPHQWRISULRUILQDQFLDOVWDWHPHQWVDQGWKH&RPSDQ\¶VFKDQJHLQDXGLWRUV7KH&RPSDQ\LVFRRSHUDWLQJIXOO\ZLWKWKH6(&LQ
WKLVPDWWHU7KH&RPSDQ\LVXQDEOHWRSUHGLFWZKDWDFWLRQLIDQ\PLJKWEHWDNHQLQWKHIXWXUHE\WKH6(&DVDUHVXOWRIWKHPDWWHUVWKDW
DUH WKH VXEMHFW RI WKH LQYHVWLJDWLRQ RU ZKDW LPSDFW WKH FRVW RI UHVSRQGLQJ WR WKH LQYHVWLJDWLRQ PLJKW KDYH RQ WKH &RPSDQ\¶V ILQDQFLDO
FRQGLWLRQ RU UHVXOWV RI RSHUDWLRQV 7KH &RPSDQ\ KDV QRW HVWDEOLVKHG DQ\ SURYLVLRQ IRU ORVVHV LQ UHVSHFW RI WKLV PDWWHU $ SURWUDFWHG
LQYHVWLJDWLRQ FRXOG LPSRVH VXEVWDQWLDO FRVWV DQG GLVWUDFWLRQV UHJDUGOHVV RI LWV RXWFRPH 7KHUH FDQ EH QR DVVXUDQFH WKDW DQ\ ILQDO
UHVROXWLRQRIWKLVLQYHVWLJDWLRQZLOOQRWKDYHDPDWHULDODQGDGYHUVHHIIHFWRQWKH&RPSDQ\¶VILQDQFLDOFRQGLWLRQDQGUHVXOWVRIRSHUDWLRQV
:HSUHYLRXVO\LGHQWLILHGDQGUHPHGLDWHGPDWHULDOZHDNQHVVHVLQRXULQWHUQDOFRQWURORYHUILQDQFLDOUHSRUWLQJZKLFKPD\LIRXU
UHPHGLDWLRQPHDVXUHVDUHLQVXIILFLHQWUHVXOWLQDGGLWLRQDOPDWHULDOPLVVWDWHPHQWVLQRXUILQDQFLDOVWDWHPHQWV2XUPDQDJHPHQWLV
UHVSRQVLEOHIRUHVWDEOLVKLQJDQGPDLQWDLQLQJDGHTXDWHLQWHUQDOFRQWURORYHURXUILQDQFLDOUHSRUWLQJDVGHILQHGLQ5XOHDIXQGHUWKH
6HFXULWLHV([FKDQJH$FWRI,QSULRUILVFDO\HDUVRXUPDQDJHPHQWLGHQWLILHGFHUWDLQPDWHULDOZHDNQHVVHVLQRXULQWHUQDOFRQWURORYHU
ILQDQFLDOUHSRUWLQJ:HEHOLHYHDOOVXFKPDWHULDOZHDNQHVVHVKDYHEHHQIXOO\DGGUHVVHGE\WKHUHPHGLDWLRQPHDVXUHVSXWLQSODFHGXULQJ
WKHILVFDO\HDU+RZHYHULIRXUUHPHGLDWLRQPHDVXUHVDUHLQVXIILFLHQWWRDGGUHVVWKHPDWHULDOZHDNQHVVHVRULIDGGLWLRQDOPDWHULDO
ZHDNQHVVHVRUVLJQLILFDQWGHILFLHQFLHVLQRXULQWHUQDOFRQWURODUHGLVFRYHUHGRURFFXULQWKHIXWXUHRXUILQDQFLDOVWDWHPHQWVPD\FRQWDLQ
PDWHULDOPLVVWDWHPHQWVDQGZHFRXOGEHUHTXLUHGWRUHVWDWHRXUILQDQFLDOUHVXOWV
,7(0%815(62/9('67$))&200(176
1RQH
,7(03523(57,(6
6WRUHV
7KHIROORZLQJWDEOHVXPPDUL]HVRXUVWRUHFRXQWDFWLYLW\GXULQJWKHODVWWKUHHILVFDO\HDUV
6WRUHVDWEHJLQQLQJRI\HDU
6WRUHVR
S
HQHGGXULQ
J
WKH
\
HDU
6WRUHVFORVHGGXULQ
J
WKH
\
HDU
6WRUHVDWHQGRI
\
HDU
$VRI)HEUXDU\RXUVWRUHVRSHUDWHGLQWKHIROORZLQJVWDWHV
6WDWH 1XPEHURI6WRUHV
6WDWH 1XPEHURI6WRUHV
$
ODEDPD 0LVVRXUL
$
UL]RQD 1HYDGD
$
UNDQVDV 1HZ-HUVH\
&DOLIRUQLD 1HZ<RUN
&RORUDGR 1RUWK&DUROLQD
)ORULGD 2KLR
*HRUJLD 2NODKRPD
,OOLQRLV 3HQQV\OYDQLD
,QGLDQD 6RXWK&DUROLQD
.DQVDV 7HQQHVVHH
.HQWXFN\ 7H[DV
/RXLVLDQD 8WDK
0DVVDFKXVHWWV 9LUJLQLD
0LFKLJDQ :LVFRQVLQ
0LVVLVVLSSL
:HOHDVHDOORIRXUVWRUHORFDWLRQVJHQHUDOO\IRU\HDUVZLWKRSWLRQVWRH[WHQGWKHOHDVHWHUPIRUWZRRUPRUH\HDUSHULRGV:HKDYH
WKHULJKWWRWHUPLQDWHVRPHRIWKHVHOHDVHVEHIRUHWKHH[SLUDWLRQGDWHXQGHUVSHFLILHGFLUFXPVWDQFHVDQGVRPHZLWKVSHFLILHGWHUPLQDWLRQ