Supercuts 2011 Annual Report Download - page 59
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Table of Contents
The percentage (decreases) increases during the years ended June 30, 2011, 2010, and 2009 were due to the following factors:
We acquired 105 North American salons during the twelve months ended June 30, 2011, including 78 franchise buybacks. The decline in
organic sales was the result of a same-store sales decrease of 1.8 percent due to a decline in same-store customer visits, partially offset by an
increase in average ticket. Contributing to the organic sales decline during the twelve months ended June 30, 2011 was the completion of an
agreement to supply the purchaser of Trade Secret product at cost. The Company generated revenues of $20.0 million for product sold to the
purchaser of Trade Secret during the twelve months ended June 30, 2010. The foreign currency impact during fiscal year 2011 resulted primarily
from the weakening of the United States dollar against the Canadian dollar.
We acquired 26 North American salons during the twelve months ended June 30, 2010, including 23 franchise buybacks. The decline in
organic sales was the result of a same-store sales decrease of 3.3 percent due to a decline in same-store customer visits, partially offset by an
increase in average ticket. Contributing to the organic sales decline during the twelve months ended June 30, 2010 was the completion of an
agreement to supply the purchaser of Trade Secret product at cost. The Company generated revenues of $20.0 and $32.2 million for product sold
to the purchaser of Trade Secret during the twelve months ended June 30, 2010 and 2009, respectively. The foreign currency impact during fiscal
year 2010 resulted from the weakening of the United States dollar against the Canadian dollar as compared to the exchange rate for fiscal year
2009.
We acquired 177 North American salons during the twelve months ended June 30, 2009, including 83 franchise buybacks. The organic
decrease was due primarily to same-store sales decrease of 2.9 percent, partially offset by the construction of 168 company-owned salons in
North America and $32.2 million of product sales to the purchaser of Trade Secret during the twelve months ended June 30, 2009. The foreign
currency impact during fiscal year 2009 resulted from the strengthening of the United States dollar against the Canadian dollar as compared to
the exchange rate for fiscal year 2008.
57
Percentage
(Decrease) Increase in
Revenues For the
Years Ended June 30,
Factor 2011 2010 2009
Acquisitions (previous twelve months)
1.2
%
0.8
%
3.7
%
Organic
(1.7
)
(3.6
)
(0.9
)
Foreign currency
0.5
0.5
(0.9
)
Franchise revenues
0.0
—
(
0.1
)
Closed salons
(1.5
)
(0.4
)
(0.5
)
(1.5
)%
(2.7
)%
1.3
%