Jamba Juice 2009 Annual Report Download - page 50
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Table of Contents
Total G&A expenses decreased 0.7% to $48.1 million for fiscal 2008 compared to $48.4 million for the prior year. The $0.3 million decrease in Total
G&A expenses is due to lower accounting and legal fees, lower contract services fees, lower relocation and recruiting costs, headcount reduction and cost-
saving initiatives that began in May 2008, aggregating to a $6.0 million reduction in Total G&A fees. The decrease in G&A expenses in fiscal 2008 was
almost fully offset by one-time severance costs, employee-related special charges and other expenses, project costs associated with new product launches, costs
associated with the hiring of our new Chief Executive Officer and costs associated with the management transition and revitalization efforts, aggregating to
$3.4 million and the $2.3 million reduction of overhead capitalization due to reduced store openings.
As a percentage of total revenue, total G&A expenses decreased to 14.0% for fiscal 2008, compared to 15.3% for the prior year. This decrease in G&A
expenses as a percentage of total revenue was attributable to increased total revenue.
(in 000’s)
Store pre-opening $2,044 0.6% $5,863 1.8%
Store pre-opening costs are primarily expenses incurred for training new store personnel, pre-opening marketing and pre-opening rent. Store pre-opening
costs decreased 65.1% to $2.0 million for fiscal 2008 compared to $5.9 million for the prior year. The $3.8 million decrease in store pre-opening expense was
due to the opening of 35 new Company Stores in fiscal 2008 as compared to the opening 99 new Company Stores in the prior year.
(in 000’s)
Impairment of long-lived assets $ 27,802 8.1% $1,550 0.5%
Impairment of long-lived assets which includes leasehold improvements and other fixed assets represents non-cash charges related to the write off of the
carrying value of store fixed assets for underperforming Company Stores that are currently operating and was $27.8 million for fiscal 2008 compared to $1.6
million for fiscal 2007. During fiscal 2008, we impaired 144 Company Stores as compared to 20 Company Stores in fiscal 2007.
(in 000’s)
Store lease termination and closure $ 10,029 2.9% $ 718 0.2%
Store lease termination and closure costs were $10.0 million in fiscal 2008 compared to $0.7 million in fiscal 2007. During fiscal 2008, the Company
announced a restructuring plan to, among other things, close certain underperforming Company Stores. We closed 38 Company Stores in fiscal 2008, 30 of
which were closed prior to their lease expiration, as compared to five Company Stores in fiscal 2007, four of which were closed prior to their contractual lease
expiration date.
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