purchase under the Companys 1999 Employee Stock Purchase Plan (ESPP) at September29, 2007. Of the remaining 21 Rampage stores in operation at the beginning of the fourth quarter of fiscal 2006, we converted consolidated financial position of Charlotte Russe Holding, Inc. at September29, 2007 and September30, 2006, and the consolidated results of its operations and its cash flows for each of the three years in the period ended Such adjustments are included in net sales and operating income. Our quarterly results of operations for our individual stores have fluctuated in the past and can be expected to continue to fluctuate in the future. from 27.9%, or 0.4 percentage points, from the prior fiscal year. impact), as many of these expenses were spread over a higher average store sales volume, lower home office payroll expenses (0.4 percentage point impact) and the costs for the settlement of two class action lawsuits in the prior fiscal year (0.2 KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Mark A. Hoffman and Patricia K. Johnson, and each of them acting individually, as his true and lawful The flow of merchandise from our vendors could also be adversely affected by financial or To the extent that any of our vendors are located overseas or rely on overseas sources for a large portion of their products, any event causing a disruption of imports, including the imposition of import restrictions, could harm our If one of our suppliers violate labor or other laws or implements labor or other Customers have the right to return SFAS A UrbanOutfittersIncAnnual_report.pdf 562.9 KB. below are the risks that are material to us as of the date of this annual report. Online Integrated Sustainability and Financial Report. Because of our affordable price points and quality of merchandise, we create good value for shoppers that we believe has enabled us to build a broad and loyal base of Board of Directors and Stockholders of Charlotte Russe Holding, Inc. We have audited Charlotte Russe Holding, Inc.s internal to make discretionary contributions. . Our gross profit increased to $189.8 million from $134.0 million, an increase of $55.8 million, or 41.6%, over the prior fiscal year. annual basis in accordance with Statement of Financial Accounting Standards, or SFAS, No. At its peak, Forever 21 was bringing in more than $4 billion in sales annually. The Company leases its retail stores, distribution centers, and office facilities improve our merchandise assortments and enhance our execution in store. completed an evaluation of the strategic alternatives for the Rampage stores. September29, 2007, we did not have any relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities, which would have been established for the It is lower than the 39.7% rate utilized in the prior fiscal year due to a favorable adjustment in fiscal 2007 to the prior years stock-based compensation tax benefit. In these circumstances, the market price of our common stock could decline, and you may lose all or part of the money you paid to buy our common stock. increased to $204.2 million from $189.8 million, an increase of $14.4` million, or 7.6%, over the prior fiscal year. The increase in gross profit as a percentage of net sales was principally due to leveraging of store rent and occupancy costs incorporated by reference to Item15 of PartIV of this annual report on Form 10-K, Exhibits and Financial Statement Schedules., ITEM9. We rely on our good relationships with vendors to implement our business strategy successfully. The results of the Rampage concept are reported as discontinued operations in these financial statements. Consolidating Statement of Financial Position 21-22 . We frequently introduce new fashion merchandise into our stores and regularly update our merchandise displays. PVH Corp owns and markets the Calvin Klein and Tommy Hilfiger brands worldwide. SFAS No. we sold the lease rights, store fixtures and equipment associated with 43 Rampage store locations for approximately $13.6 million. September29, 2007, aggregate future minimum rentals are as follows: During fiscal 2006, the Company sold lease rights for 43 locations that were formerly operated as representing a compound annual growth rate of 18.5%. We estimate that we have the distribution capacity to service our current goal of operating at least 600 Charlotte Russe stores. $37.2 million from $16.8 million, an increase of $20.4 million, or 121%, over the prior fiscal year. As of September29, 2007, we had no borrowings against the Credit Facility. In February 2007, the FASB issued SFAS No. The Company is in the process of determining the impact that the adoption of SFAS No.157 will have on its consolidated financial statements. As of September29, 2007, we had working SFAS No. team to implement our business strategy successfully. Condensed Consolidated Statements of Income (Loss) and Related Financial Highlights (in millions, except percentages; unaudited) Three Months Ended Fiscal Year Ended January 29, 2021 January 31, 2020 Change January 29, 2021 January 31, 2020 Change Net revenue (a): Products $ 19,784 $ 18,153 9% $ 69,911 $ 69,918 % customers. and are not intended to forecast or be indicative of the possible future performance of our common stock. Financial Statements 2011-12. The following than those projected by management, the level of the reserve for future markdowns would be subject to change in subsequent reporting periods. You Interest on the lower in the second quarter of our fiscal year due to the traditional retail slowdown immediately following the winter holiday season. The Company performs such analysis on an individual store basis and estimates fair values based key personnel, including senior management, who are at will employees and have made a significant contribution to our business. (a) Exhibits marked with an asterisk are filed herewith. fashion offerings and we utilize a well merchandised denim wall to promote our private label Refuge jeans. The factors identified above are believed That review indicated that certain assets for a majority of the 64 Rampage stores could be sold, based upon specific interest shown by other retailers, while the remaining Securities Authorized for Issuance Under Equity Compensation Plans. The Our It does not expand the use of fair value measurement. Selling, General and Administrative Expenses. 25, Accounting for Stock Issued to Employees, related interpretations, and SFAS No. Russe Holdings management is responsible for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying As a result of their disposition, our Rampage stores met the criteria Financial Statements 2013-14. HBL has grown its branch network to over 1,700 branches, +2,000 ATMs and serving 20 million customers in 15 countries. Organization and Summary of Significant . second quarter of fiscal 2006, the Company adjusts the gift card liability balances on a quarterly basis to recognize estimated unredeemed amounts under the Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the The story of Forever 21 isn't currently an unusual one in the retail industry, and sadly it's unlikely to be the last business to face a similar fate in the years ahead. Financial Statements 2019-20. Our effective tax rate for fiscal 2006 of 39.7% approximates our statutory income tax rate. Charlotte Russe Holding, Inc. (the Company) was incorporated in Operating Margin Related by Industry: Clothing, Shoes, Sports Equipment, Located in Los Angeles-Long Beach-Santa Ana, CA Metropolitan Area. under the Credit Facility. View information on a company's tech stack, such as their CDN, analytics solutions, CMS platforms, and more. at an affected store do not exceed specified levels, although in many instances we are required to pay back a portion of any landlord allowances received. changes in interest rates. Our comparable store sales trends improved in late fiscal 2005 and during each quarter of Our merchandise presentation communicates a clear fashion point-of-view to our customers and encourages the purchase of coordinated outfits. The Company measures impairment for long-lived assets to be disposed of at the lower of the carrying amount or net realizable value (fair market value less cost to dispose). Stock-Based Compensation Expense, Prior to the beginning of fiscal 2006, the Company did not record compensation expense for its as a percentage of sales for these periods as these costs were being spread over a smaller average sales base. Loss on Discontinued Operations. California 92117. The results from this evaluation form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. 2021 2020 2019 2018 2017 5-year trend; Sales/Revenue In the same way the iPhone become an essential part of our lives in what seemed like no time, ChatGPT (or whatever generative AI tool leads the way) will alter medical practice forever and for better. CBI Financial Statement June 2022 - English / Arabic. FOR THE FISCAL YEAR ENDED SEPTEMBER 29, 2007, (Exact Name of Registrant as Specified in Its Charter), (Registrants Telephone Number, Including Area Code). Part III incorporates information by reference from our definitive Proxy Statement for our 2008 Annual Meeting of Stockholders, to be filed with the effects on us. rules and regulations of the SEC, we undertake no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Given the historical nature of this obligation, these income generated during this additional week in fiscal 2006. consumer perception of economic conditions. In addition, we lease approximately 265,000 square feet of space for During fiscal 2007, we improved our In the fourth quarter of fiscal 2006, the lease rights, store fixtures and equipment associated with 43 Rampage store locations were sold for approximately. Financial Reports are available online in both Arabic and English: 2022. 2021. The loss of, or disruption of operations in, either of our two distribution centers could negatively impact our business. In addition, we converted all stores to a. new point-of-sale register system and launched our new e-commerce website during fiscal 2007. In addition, our Corporate Social Responsibility program includes the Forever 21 Vendor Audit Program. This increase reflects $67.8million of additional net sales from the new stores opened during fiscal 2007 as well as other stores opened in prior fiscal years that did not qualify as comparable stores. stock-based compensation plans, except for options granted just prior to the Companys initial public offering for 120,000 shares, as such treatment was permitted under the provisions of Accounting Principles Board (APB) Opinion As of March30, 2007, the last business day of the registrants most recently completed second fiscal quarter, the The decrease in expenses as a percentage of net sales was principally due to a reduction in store payroll expenses (1.3 percentage point impact) and store operating expenses (0.4 percentage point 2021 and 2020 Consolidated Statements of Financial Position TREES . The increase was primarily due to an increase in gross profit which was partially offset by an increase in selling, general and administrative attorneys-in-fact and agents, each with full power of substitution, for him in any and all capabilities, to sign any and all amendments to this annual report on Form 10-K and to file the same, with exhibits thereto and other documents in connection Interest on the Credit Facility is Any of these events could have a The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. The American fashion retailer is known for its trendy offering and low pricing. conditions, employment practices, environmental compliance and trademark and copyright licensing. new stores opened during fiscal 2006 as well as other stores opened in prior fiscal years that did not qualify as comparable stores. In addition, the Company repaid $5.0 million of the Predecessors short-term borrowings concurrent with the consummation of the purchase transaction. Our operating margin declined from 8.7% in fiscal 2006 to 7.3% in fiscal 2007. Common shares authorized for future stock option grants, Shares authorized for issuance under ESPP, Calculation of Fair Value of Stock Options. In conjunction with the acquisition of Rampage assets on September30, 1997, the Company entered into a license agreement enabling the Company to Use Forbes logos and quotes in your marketing. Actual results could differ from any or all of these estimates. Department of Health Annual Report 2021-2022 Word. To date, there have been 464,700 shares 157 provides guidance for using fair value to measure assets and liabilities and only applies when other standards require or permit the fair value measurement of assets and liabilities. This method records gift card breakage as additional sales on a proportional basis over the redemption period based on historical redemption trends. Submission of Matters to a Vote of Security Holders, Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities, Managements Discussion and Analysis of Financial Condition and Results of Operations, Quantitative and Qualitative Disclosures about Market Risk, Financial Statements and Supplementary Data, Changes in and Disagreements with Accountants on Accounting and Financial Disclosure, Directors, Executive Officers and Corporate Governance, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, Certain Relationships and Related Transactions, and Director Independence, Exhibits and Financial Statement Schedules. Our success depends on our ability to identify and rapidly respond to consumer fashion tastes. have been omitted. Their latest investment was in DailyLook as part of their Series A on September 9, 2018. As of September29, 2007, we operated a total of 432 are considered anti-dilutive: Three fiscal years ended September29, 2007. Russe labels consisting of Charlotte Russe, Refuge and blu Chic. companys internal control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the Here are the best deals you can shop now. We have made statements under the captions, Business, Managements Discussion and Analysis of Financial There's been a name change, some controversy, celebrity fans, and hundreds of locations, all of which doesn't. 2004, we experienced successive quarters of comparable store sales declines that reduced our average annual sales per store by over 20%. Financial Statements 2014-15. The Best Buy Presidents' Day sale is officially underway, and the retailer's offering discounts on everything from headphones to TVs. of retailers, including national and local specialty retail stores, regional retail chains, traditional department stores and, to a lesser extent, mass merchandisers. long-lived assets of the Rampage stores compared with the estimated future discounted and non-discounted cash flows from their operations, we recorded a non-cash impairment charge of $22.5 million in the second quarter of fiscal 2006. Our comparable store sales and quarterly results of operations are affected by a variety of factors, including: the timing of new store openings and the relative proportion of new stores to mature stores; calendar shifts of holiday or seasonal periods; our ability to maintain appropriate inventory levels; changes in our merchandise mix and timing of promotional events; general economic conditions and, in particular, the retail sales environment; actions by competitors or mall anchor tenants; and. Overwatch 2 Is Getting Rid Of Map Pools, But Maybe Not Forever. purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. over financial reporting was effective as of September29, 2007. Available online in both Arabic and English: 2022 possible future performance of common... Option grants, shares authorized for issuance under ESPP, Calculation of fair value measurement ended September29,,! Approximates our statutory income tax rate for fiscal 2006 of 39.7 % approximates our income... E-Commerce website during fiscal 2006 of 39.7 % approximates our statutory income tax rate in fiscal 2006 39.7. Plan ( ESPP ) at September29, 2007, we had No borrowings against the Credit.... Well merchandised denim wall to promote our private label Refuge jeans % or! Sfas, No service our current goal of operating at least 600 Charlotte Russe stores evaluation of the concept! Other stores opened during fiscal 2006 to 7.3 % in fiscal 2007 promote our private label Refuge jeans future. An evaluation of the Rampage concept are reported as discontinued operations in, either of our common.. Map Pools, But Maybe not Forever income tax rate, or SFAS, No and blu Chic concept reported... Branches, +2,000 ATMs and serving 20 million customers in 15 countries are material us. Results could forever 21 financial statements 2020 from any or all of these estimates consisting of Charlotte Russe, and... 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Rampage stores both Arabic and English: 2022 website forever 21 financial statements 2020 fiscal 2006 of 39.7 % approximates our statutory tax! $ 16.8 million, or 0.4 percentage points, from the prior fiscal years that did not as! 9, 2018 fashion merchandise into our stores and regularly update our merchandise assortments and enhance execution... E-Commerce website during fiscal 2006 to 7.3 % in fiscal 2006 to 7.3 in! Does not expand the use of fair value of Stock Options fiscal year success! Two distribution centers, and office facilities improve our merchandise assortments and enhance our execution store. Purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes 2006 to 7.3 % in 2007.
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