Restoration Hardware 2014 Annual Report Download - page 113

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NOTE 19—SEGMENT REPORTING
The Company defines an operating segment on the same basis that it uses to evaluate performance internally
by the Chief Operating Decision Maker (“CODM”). The Company has determined that the Chief Executive
Officers is its CODM and there is one operating segment. Therefore, the Company reports as a single segment.
This includes all sales channels accessed by the Company’s customers, including sales through catalogs, sales
through the Company’s website and sales through the Company’s stores.
The Company classifies its sales into furniture and non-furniture product lines. Furniture includes both
indoor and outdoor furniture. Non-furniture includes lighting, textiles, accessories and home décor. During fiscal
2014, the Company made certain reclassifications between the furniture and non-furniture net revenues
categories based on certain products being categorized differently for internal reporting purposes beginning in the
fourth quarter of fiscal 2014. Such reclassifications are reflected in the table below for the full fiscal 2014 results.
There was no impact on the fiscal 2013 and fiscal 2012 results related to this reclassification.
Net revenues in each category were as follows (in thousands):
Year Ended
January 31,
2015
February 1,
2014
February 2,
2013
Furniture $1,070,981 $ 868,650 $ 628,092
Non-furniture 796,441 682,311 564,954
Total net revenues $1,867,422 $1,550,961 $1,193,046
The Company is domiciled in the United States and operates stores in the United States and Canada.
Revenues from Canadian operations, and the long-lived assets in Canada, are not material to the Company.
Geographic revenues are determined based upon where service is rendered.
No single customer accounted for more than 10% of the Company’s revenues in fiscal 2014, fiscal 2013, or
fiscal 2012.
NOTE 20—SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
Quarterly financial data for fiscal 2014 and fiscal 2013 are set forth below (in thousands, except share and
per share amounts):
Three Months Ended
Fiscal 2014
May 3,
2014
August 2,
2014
November 1,
2014
January 31,
2015
Net revenues $ 366,254 $ 433,766 $ 484,675 $ 582,727
Gross profit 124,349 167,909 180,373 218,143
Net income 1,795 27,253 19,429 42,525
Weighted-average shares used in computing basic net
income per share 39,152,923 39,436,255 39,507,272 39,734,145
Basic net income per share $ 0.05 $ 0.69 $ 0.49 $ 1.07
Weighted-average shares used in computing diluted
net income per share 40,787,726 41,262,629 41,392,831 41,777,509
Diluted net income per share $ 0.04 $ 0.66 $ 0.47 $ 1.02
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