Jamba Juice 2009 Annual Report Download - page 57
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Table of Contents
Store operating expenses consist primarily of various store-level costs such as repairs and maintenance, refurbishments, cleaning supplies, bank
charges, utilities and marketing. The increase of store operating expenses as a percentage of Company Stores revenue on a proforma basis is primarily
associated with the increase in marketing expenses to support our fiscal 2007 product initiatives and increased credit card fees due to increasing jambacard
sales, combined with decreased leverage due to lower California Company Store comparable sales, partially offset by menu price increases taken during fiscal
2007. Looking forward, we expect increases in credit card fees to continue, which is expected to be offset by leverage from higher sales. On a reported basis,
store operating expenses decreased in fiscal 2007 as compared to fiscal 2006 as a result of prior year deleverage resulting from lower sales in the slower Winter
months, which include the six week period from the Merger to the end of fiscal 2006.
(in 000’s)
Depreciation and amortization $19,168 6.0% $1,878 8.1% $14,446 5.4%
Depreciation and amortization expenses include the depreciation and amortization of fixed assets and the amortization of intangible assets. The increase
in depreciation and amortization expenses as a percentage of total revenues on a proforma basis was primarily due to the additional depreciation on the 99 new
Company Stores opened in fiscal 2007; our acquisition of 34 stores from our franchisees in fiscal 2007 and seven stores from a franchisee in the fourth
quarter of fiscal 2006; and the opening of 49 Company Stores in fiscal 2006 combined with decreased leverage due to lower California Company Store
comparable store sales, partially offset by menu price increases taken during fiscal 2007. On a reported basis, depreciation and amortization decreased in
fiscal 2007 as compared to fiscal 2006 as a result of prior year deleverage resulting from lower sales in the slower Winter months, which include the six week
period from the Merger to the end of fiscal 2006.
(in 000’s)
Wages and payroll related expenses $26,586 $2,694 $ 20,947
Accounting and legal fees 6,724 1,189 3,499
Share-based compensation 4,214 508 508
Outside services 3,068 571 2,378
Other 7,792 1,233 7,986
Total general and administrative expenses $48,384 15.3% $6,195 26.8% $ 35,318 13.1%
General and administrative expenses include costs associated with our support center in Emeryville, CA, field supervision, recruiting, training, human
resources, and local marketing personnel, as well as bonuses, legal and professional fees and share-based compensation. The increase in general and
administrative expenses on a proforma basis as a percentage of total revenue is primarily due to the planned increase in infrastructure to build for future store
growth combined with costs such as those associated with the Merger, the move of the support
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