Banana Republic 2012 Annual Report Download - page 34

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Item 6. Selected Financial Data.
The following selected financial data are derived from the Consolidated Financial Statements of the Company. We have
also included certain non-financial data to enhance your understanding of our business. The data set forth below should
be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in
Item 7 and the Company’s Consolidated Financial Statements and related notes in Item 8.
Fiscal Year (number of weeks)
2012 (53) 2011 (52) 2010 (52) 2009 (52) 2008 (52)
Operating Results ($ in millions)
Net sales $ 15,651 $ 14,549 $ 14,664 $ 14,197 $ 14,526
Gross margin 39.4 % 36.2 % 40.2 % 40.3 % 37.5 %
Operating margin 12.4 % 9.9 % 13.4 % 12.8 % 10.7 %
Net income $ 1,135 $ 833 $ 1,204 $ 1,102 $ 967
Cash dividends paid $ 240 $ 236 $ 252 $ 234 $ 243
Per Share Data (number of shares in millions)
Basic earnings per share $ 2.35 $ 1.57 $ 1.89 $ 1.59 $ 1.35
Diluted earnings per share $ 2.33 $ 1.56 $ 1.88 $ 1.58 $ 1.34
Weighted-average number of shares—basic 482 529 636 694 716
Weighted-average number of shares—diluted 488 533 641 699 719
Cash dividends declared and paid per share $ 0.50 $ 0.45 $ 0.40 $ 0.34 $ 0.34
Balance Sheet Information ($ in millions)
Merchandise inventory $ 1,758 $ 1,615 $ 1,620 $ 1,477 $ 1,506
Total assets $ 7,470 $ 7,422 $ 7,065 $ 7,985 $ 7,564
Working capital $ 1,788 $ 2,181 $ 1,831 $ 2,533 $ 1,847
Total long-term debt, less current maturities (1) $ 1,246 $ 1,606 $ — $ — $ —
Stockholders’ equity $ 2,894 $ 2,755 $ 4,080 $ 4,891 $ 4,387
Other Data ($ and square footage in millions)
Purchases of property and equipment $ 659 $ 548 $ 557 $ 334 $ 431
Acquisition of business, net of cash acquired (2) $ 129 $ — $ — $ — $ 142
Percentage increase (decrease) in comparable
sales (3) 5 % (4)% 2 % (3)% (12)%
Number of Company-operated store locations
open at year-end 3,095 3,036 3,068 3,095 3,149
Number of franchise store locations open at
year-end 312 227 178 136 114
Number of store locations open at year-end (4) 3,407 3,263 3,246 3,231 3,263
Square footage of Company-operated store
space at year-end 36.9 37.2 38.2 38.8 39.5
Percentage decrease in square footage of
Company-operated store space at year-end (0.8)% (2.6)% (1.5)% (1.8)% (0.3)%
Number of employees at year-end 136,000 132,000 134,000 135,000 134,000
__________
(1) In April 2012, we made the first scheduled payment of $40 million related to our $400 million term loan and in August 2012, we repaid the
remaining $360 million balance in full.
(2) On September 28, 2008, we acquired all of the outstanding capital stock of Athleta, a women’s sports and active apparel company, for an
aggregate purchase price of $148 million. On December 31, 2012, we acquired all of the outstanding capital stock of Intermix, a multi-brand
specialty retailer of luxury and contemporary apparel and accessories, for an aggregate purchase price of $129 million.
(3) Beginning in fiscal 2011, we report comparable sales including the associated comparable online sales. Comparable sales for fiscal 2010 have
been recalculated to include the associated comparable online sales. Comparable sales for fiscal 2009 and 2008 exclude online sales.
(4) Includes Company-operated and franchise store locations.
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