Restoration Hardware 2014 Annual Report Download - page 46
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The selected historical consolidated data presented below should be read in conjunction with Item 1A—Risk
Factors, Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations, our
consolidated financial statements and the notes to our consolidated financial statements.
Year Ended
January 31,
2015
February 1,
2014
February 2,
2013
January 28,
2012
January 29,
2011
(dollars in thousands, excluding per square foot store data)
Statement of Operations Data:
Net revenues $ 1,867,422 $ 1,550,961 $1,193,046 $958,084 $772,752
Cost of goods sold 1,176,648 994,081 756,597 601,735 501,132
Gross profit 690,774 556,880 436,449 356,349 271,620
Selling, general and administrative expenses 525,048 502,029 505,485 329,506 274,836
Income (loss) from operations 165,726 54,851 (69,036) 26,843 (3,216)
Interest expense 17,551 5,733 5,776 5,134 3,150
Income (loss) before income taxes 148,175 49,118 (74,812) 21,709 (6,366)
Income tax expense (benefit) (1) 57,173 30,923 (62,023) 1,121 685
Net income (loss) $ 91,002 $ 18,195 $ (12,789) $ 20,588 $ (7,051)
Weighted-average number of basic shares
outstanding 39,457,491 38,671,564 9,428,828 468 100
Basic net income (loss) per share $ 2.31 $ 0.47 $ (1.36) $ 43,991 $ (70,510)
Weighted-average number of diluted shares
outstanding 41,378,210 40,416,630 9,428,828 468 100
Diluted net income (loss) per share $ 2.20 $ 0.45 $ (1.36) $ 43,991 $ (70,510)
Other Financial and Operating Data:
Direct as a percentage of net revenues (2) 50% 47% 46% 44% 43%
Growth in net revenues:
Stores (3) 14% 27% 20% 22% 15%
Direct 28% 33% 30% 27% 37%
Total 20% 30% 25% 24% 24%
Comparable brand revenue growth (4) 20% 31% 28% 26% 26%
Retail (5):
Retail stores open at end of period 67 70 71 74 91
Retail sales per leased selling square
foot (6) $ 1,426 $ 1,395 $ 1,143 $ 846 $ 635
Total leased square footage at end of
period (in thousands) 861 798 768 808 970
Total leased selling square footage at
end of period (in thousands) (7) 607 554 501 516 613
Average leased square footage (in
thousands) (8) 813 793 784 913 1,014
Average leased selling square footage
(in thousands) (8) 567 522 504 580 641
Capital expenditures $ 110,359 $ 93,868 $ 49,058 $ 25,593 $ 39,907
Adjusted net income (9) $ 97,636 $ 69,101 $ 37,739 $ 26,451 $ 3,025
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