Restoration Hardware 2015 Annual Report Download - page 35

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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 30, January 31, February 1, February 2, January 28,
2016 2015 2014 2013 2012
(dollars in thousands, excluding per square foot store data)
Statements of Operations:
N
et revenues ......................................................................... $2,109,006 $1,867,422 $1,550,961 $ 1,193,046 $958,084
Cost of goods sold ................................................................ 1,356,314 1,176,648 994,081 756,597 601,735
Gross profit .......................................................................... 752,692 690,774 556,880 436,449 356,349
Selling, general and administrative expenses ....................... 567,131 525,048 502,029 505,485 329,506
Income (loss) from operations ............................................. 185,561 165,726 54,851 (69,036) 26,843
Interest expense—net ........................................................... 35,677 17,551 5,733 5,776 5,134
Income (loss) before income taxes ....................................... 149,884 148,175 49,118 (74,812) 21,709
Income tax expense (benefit)
(
1
)
............................................ 58,781 57,173 30,923 (62,023) 1,121
N
et income (loss) ................................................................. $91,103 $91,002 $18,195 $ (12,789) $20,588
Weighted-average shares used in computing basic net
income (loss) per share .................................................... 40,190,448 39,457,491 38,671,564 9,428,828 468
Basic net income (loss) per share ......................................... $2.27 $2.31 $0.47 $ (1.36) $43,991
Weighted-average shares used in computing diluted net
income (loss) per share .................................................... 42,256,559 41,378,210 40,416,630 9,428,828 468
Diluted net income (loss) per share ...................................... $2.16 $2.20 $0.45 $ (1.36) $43,991
Other Financial and Operating Data:
Direct as a percentage of net revenues
(
2
)
............................. 49% 50% 47 % 46% 44%
Growth in net revenues:
Stores
(
3
)
.......................................................................... 16% 14% 27 % 20% 22%
Direct .............................................................................. 10% 28% 33 % 30% 27%
Total ................................................................................ 13% 20% 30 % 25% 24%
Comparable brand revenue growth
(
4
)
................................... 11% 20% 31 % 28% 26%
Retail
(
5
)
:
Retail stores open at end of period.................................. 69 67 70 71 74
Total leased square footage at end of period
(in thousands) (6) ........................................................ 1,011 861 798 768 808
Total leased selling square footage at beginning of
p
eriod
(in thousands) (7) ........................................................ 607 554 501 516 613
Total leased selling square footage at end of period (in
thousands) (7) .............................................................. 725 607 554 501 516
Weighted-average leased square footage (in
thousands) (8) .............................................................. 904 821 793 786 928
Weighted-average leased selling square footage (in
thousands) (8) .............................................................. 641 572 526 508 589
Retail sales per leased selling square foot
(
9
)
.................. $1,463 $1,413 $1,386 $ 1,161 $832
Capital expenditures
(
10
)
....................................................... $133,460 $110,359 $93,868 $ 49,058 $25,593
Adjusted net income
(
11
)
....................................................... $114,772 $97,636 $69,101 $ 37,739 $26,451