Supercuts 2012 Annual Report Download - page 50
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Table of Contents
Product Margin (Excluding Depreciation). Product margin was as follows:
Trade Secret, Inc. was sold by Regis Corporation on February 16, 2009. The agreement included a provision that Regis Corporation would
supply product to the purchaser at cost for a transition period. The agreement was substantially completed as of September 30, 2009.
The following tables breakout product revenues, cost of product and product margin as a percent of product revenues between product and
product sold to the purchaser of Trade Secret.
The basis point decrease in product margin as a percentage of product revenues during fiscal year 2012 was primarily due to an increase in
the cost of hair systems in our Hair Restoration Centers segment and increases in freight costs due to higher fuel prices. Partially offsetting the
basis point decrease was a reduction in commissions paid to new employees on retail product sales in our North American segment.
The basis point decrease in product margin other than sold to purchaser of Trade Secret as a percentage of product revenues during fiscal
year 2011 was primarily due to an increase in sales of slightly lower
-profit margin appliances in our International segment and an increase in
the cost of hair systems in our Hair Restoration Centers segment, partially offset by reduced commissions paid to new employees on retail
product sales in our North American segment.
48
(Decrease) Increase
Over Prior Fiscal Year
Years Ended June 30, Product
Margin
Margin as % of
Product
Revenues Dollar Percentage Basis Point
(1)
(Dollars in thousands)
2012
$
270,812
52.0
%
$
(2,403
)
(0.9
)%
(20
)
2011
273,215
52.2
2,505
0.9
160
2010
270,710
50.6
(2,457
)
(0.9
)
150
(1) Represents the basis point change in product margin as a percent of product revenues as compared to the
corresponding period of the prior fiscal year.
For the Years Ended June 30,
Breakout of Product Revenues 2012 2011 2010
Product
$
520,467
$
523,194
$
514,631
Product sold to purchaser of Trade Secret
—
—
19,962
Total product revenues
$
520,467
$
523,194
$
534,593
For the Years Ended June 30,
Breakout of Cost of Product 2012 2011 2010
Cost of product
$
249,655
$
249,979
$
243,921
Cost of product sold to purchaser of Trade
Secret
—
—
19,962
Total cost of product
$
249,655
$
249,979
$
263,883
For the Years Ended
June 30,
Product Margin as % of Product Revenues 2012 2011 2010
Margin on product other than sold to purchaser of
Trade Secret
52.0
%
52.2
%
52.6
%
Margin on product sold to purchaser of Trade Secret
—
—
—
Total product margin
52.0
%
52.2
%
50.6
%