Rue 21 2012 Annual Report Download - page 37

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Investing Activities
Investing activities consist of capital expenditures for new and existing stores, as well as investment in
information technology. Additionally, the company purchased and redeemed short term investments during fiscal
year 2012.
Fiscal Year Ended
February 2,
2013
January 28,
2012
January 29,
2011
(in thousands)
Capital expenditures, net of tenant allowances ............... $(40,355) $(34,160) $(25,462)
Tenant allowances ..................................... (19,772) (19,392) (15,018)
Proceeds from sales of short term investments ............... 47,000 — —
Purchases of short term investments ....................... (37,000) (30,000) —
Net cash used for investing activities ...................... $(50,127) $(83,552) $(40,480)
In fiscal year 2012, capital expenditures, net of tenant allowances increased $6.2 million as compared to fiscal
year 2011. Capital expenditures, net of tenant allowances, for the opening of new and existing stores were
$22.6 million, $22.3 million and $16.2 million in fiscal years 2012, 2011 and 2010, respectively. The remaining
capital expenditures in fiscal year 2012 were primarily due to fixture refreshes and information technology
investments.
While there can be no assurance that current expectations will be realized, the Company expects capital
expenditures, net of tenant allowances, to be approximately $47.0 to $53.0 million in fiscal year 2013. This includes
the system and supply chain infrastructure for an e-commerce platform planned to launch in early fiscal year 2014.
Purchases of short term investments consisted of highly liquid, money market funds with a maturity in excess
of 90 days and less than 365 days.
Financing Activities
Financing activities consist principally of proceeds from the exercise of employee stock options and excess tax
benefits from share-based award activities.
Fiscal Year Ended
February 2,
2013
January 28,
2012
January 29,
2011
(in thousands)
Repurchase of common stock as part of publicly announced
programs .......................................... $(24,999) $ — $ —
Repurchase of common stock from employees ............... (400) — —
Proceeds from stock options exercised ..................... 1,090 563 688
Excess tax benefits from stock-based award activities ......... 1,016 638 1,509
Net cash (used) provided by financing activities ............. $(23,293) $1,201 $2,197
During fiscal year 2012, financing activities consisted primarily of repurchases of common stock of
$25 million as part of the publicly announced program during fiscal year 2012.
Net cash of $1.2 million was provided by financing activities in fiscal year 2011, which was primarily utilized
to fund general corporate activities. During fiscal year 2011, we received $0.6 million for the exercise of stock
options, and we recognized a $0.6 million excess tax benefit related to share based award activities.
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