Banana Republic 2015 Annual Report Download - page 25

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16
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)
2015 (52) 2014 (52) 2013 (52) 2012 (53) 2011 (52)
Operating Results ($ in millions)
Net sales $ 15,797 $ 16,435 $ 16,148 $ 15,651 $ 14,549
Gross margin 36.2 % 38.3% 39.0% 39.4 % 36.2 %
Operating margin 9.6 % 12.7% 13.3% 12.4 % 9.9 %
Net income $ 920 $ 1,262 $ 1,280 $ 1,135 $ 833
Cash dividends paid $ 377 $ 383 $ 321 $ 240 $ 236
Per Share Data (number of shares in millions)
Basic earnings per share $ 2.24 $ 2.90 $ 2.78 $ 2.35 $ 1.57
Diluted earnings per share $ 2.23 $ 2.87 $ 2.74 $ 2.33 $ 1.56
Weighted-average number of shares—basic 411 435 461 482 529
Weighted-average number of shares—diluted 413 440 467 488 533
Cash dividends declared and paid per share $ 0.92 $ 0.88 $ 0.70 $ 0.50 $ 0.45
Balance Sheet Information ($ in millions)
Merchandise inventory $ 1,873 $ 1,889 $ 1,928 $ 1,758 $ 1,615
Total assets $ 7,473 $ 7,690 $ 7,849 $ 7,470 $ 7,422
Working capital (1) $ 1,450 $ 2,083 $ 1,985 $ 1,788 $ 2,181
Total long-term debt, less current maturities (2) $ 1,310 $ 1,332 $ 1,369 $ 1,246 $ 1,606
Stockholders’ equity $ 2,545 $ 2,983 $ 3,062 $ 2,894 $ 2,755
Other Data ($ and square footage in millions)
Cash used for purchases of property and
equipment $ 726 $ 714 $ 670 $ 659 $ 548
Acquisition of business, net of cash acquired
(3) $ — $ — $ — $ 129 $ —
Percentage increase (decrease) in comparable
sales (4) (4)% —% 2% 5 % (4)%
Number of Company-operated store locations
open at year-end 3,275 3,280 3,164 3,095 3,036
Number of franchise store locations open at
year-end 446 429 375 312 227
Number of store locations open at year-end (5) 3,721 3,709 3,539 3,407 3,263
Square footage of Company-operated store
space at year-end 37.9 38.1 37.2 36.9 37.2
Percentage increase (decrease) in square
footage of Company-operated store space at
year-end (0.5)% 2.4% 0.8% (0.8)% (2.6)%
Number of employees at year-end 141,000 141,000 137,000 136,000 132,000
__________
(1) In fiscal year 2015, we adopted the Financial Accounting Standards Board, Accounting Standard Update No. 2015-17, Income Taxes.
The adoption reduced current portion of deferred tax assets as a result of classifying all net deferred tax assets as noncurrent as of
January 30, 2016.