Express 2011 Annual Report Download - page 72

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The following is information regarding the Company’s major product classes and sales channels:
2011 2010 2009
(in thousands)
Classes:
Apparel ............................ $1,864,964 $1,715,435 $1,564,060
Accessories and other ................. 186,848 172,918 144,806
Other revenue ....................... 21,543 17,461 12,200
Total net sales ........................... $2,073,355 $1,905,814 $1,721,066
2011 2010 2009
(in thousands)
Channels:
Stores .............................. $1,846,323 $1,740,818 $1,616,642
E-commerce ........................ 205,489 147,535 92,224
Other revenue ....................... 21,543 17,461 12,200
Total net sales ........................... $2,073,355 $1,905,814 $1,721,066
Other revenue consists primarily of shipping and handling revenue related to e-commerce activity, gift card
breakage, and royalties from the Development Agreement.
Revenues and long-lived assets relating to the Company’s international operations for the fifty-two weeks ended
January 28, 2012, January 29, 2011, and January 30, 2010 and as of January 28, 2012 and January 29, 2011,
respectively were not material and were not reported separately from domestic revenues and long-lived assets.
3. Recently Issued Accounting Pronouncements
In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update
(“ASU”) No. 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value
Measurement and Disclosure Requirements in U.S. GAAP and IFRSs.” ASU No. 2011-04 clarifies and changes
the application of various fair value measurement principles and disclosure requirements and will be effective for
the Company in the first quarter of 2012. The Company has assessed the updated guidance and expects adoption
to have no impact on its consolidated financial position or results of operations.
In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (Topic 220): Presentation of
Comprehensive Income.” ASU No. 2011-05 requires presentation of the components of net income and other
comprehensive income either as one continuous statement or as two consecutive statements and eliminates the
option to present components of other comprehensive income as part of the statement of changes in stockholders’
equity. ASU No. 2011-05 will be effective for the Company in the first quarter of 2012. The Company has
assessed the guidance and expects adoption to have no impact on its consolidated financial position or results of
operations.
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