Supercuts 2009 Annual Report Download - page 56

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Table of Contents
North American Salons
North American Salon Revenues. Total North American salon revenues were as follows:
The percentage increases during the years ended June 30, 2009, 2008, and 2007 were due to the following factors:
We acquired 177 North American salons during the twelve months ended June 30, 2009, including 83 franchise buybacks. The organic
decrease was due primarily to same-store sales decrease of 2.9 percent, partially offset by the construction of 168 company-owned salons in
North America and $32.2 million of product sales to the purchaser of Trade Secret during the twelve months ended June 30, 2009. The foreign
currency impact during fiscal year 2009 resulted from the strengthening of the United States dollar against the Canadian dollar as compared to
the exchange rate for fiscal year 2008.
We acquired 287 North American salons during the twelve months ended June 30, 2008, including 145 franchise buybacks. The organic
growth was due primarily to the construction of 294 company-owned salons in North America during the twelve months ended June 30, 2008,
and a same-store sales increase of 1.8 percent during the twelve months ended June 30, 2008. The Company experienced the largest comparable
increase in same-store service sales in eight years during the third and fourth quarter of fiscal year 2008, 4.1 percent and 3.4 percent,
respectively. The foreign currency impact during fiscal year 2008 was driven by the weakening of the United States dollar against the Canadian
dollar as compared to the exchange rate for fiscal year 2007.
We acquired 335 North American salons during the twelve months ended June 30, 2007, including 93 franchise buybacks. The organic
growth was due primarily to the construction of 375 company-owned salons in North America during the twelve months ended June 30, 2007,
partially offset by a lower same-store sales increase of 0.9 percent during the twelve months ended June 30, 2007 as compared to 1.1 percent
during the twelve months ended June 30, 2006. The foreign currency impact during fiscal year 2007 was driven by the weakening of the United
States dollar against the Canadian dollar as compared to the exchange rate for fiscal year 2006.
54
Increase Over Prior Fiscal Year
Same-Store
Sales (Decrease)
Increase
Years Ended June 30,
Revenues
Dollar
Percentage
(Dollars in thousands)
2009
$
2,117,698
$
27,952
1.3
%
(2.9
)%
2008
2,089,746
177,566
9.3
1.8
2007
1,912,180
138,494
7.8
0.9
Percentage Increase
(Decrease) in Revenues
For the Years
Ended June 30, 2009
Factor
2009
2008
2007
Acquisitions (previous twelve months)
3.7
%
4.6
%
4.5
%
Organic
(0.9
)
4.2
3.5
Foreign currency
(0.9
)
0.8
0.2
Franchise revenues
(0.1
)
0.1
0.0
Closed salons
(0.5
)
(0.4
)
(0.4
)
1.3
%
9.3
%
7.8
%