![]() | GUESS?, INC. | NEWS RELEASE |
Contacts: | Carlos Alberini | |
President & Chief Operating Officer | ||
(213) 765-3582 | ||
Dennis R. Secor | ||
SVP & Chief Financial Officer | ||
(213) 765-3289 | ||
Joseph Teklits | ||
Integrated Corporate Relations | ||
(203) 682-8258 |
GUESS?, INC. REPORTS RECORD FIRST QUARTER REVENUES AND EARNINGS - RAISES FULL YEAR GUIDANCE AND DECLARES DIVIDEND
First Quarter 2008 Revenues Increased by 42%, to $378 Million
First Quarter 2008 EPS Increased by 65%, to $0.38 Versus $0.23 Last Year
Company Raises Fiscal Year EPS Guidance to a Range of $1.75 to $1.80, from a Range of $1.65 to $1.70
First Quarter Highlights
- Revenues grew 42.3% to $377.9 million
- North American comp sales up 13.6%
- Operating margin improved 240 basis points to 15.3%
- Net earnings grew 71.9% to $35.5 million
LOS ANGELES, June 5, 2007 - Guess?, Inc. (NYSE: GES) today reported financial results for the first quarter of its 2008 fiscal year, which ended May 5, 2007.
First Quarter 2008 Results
For the first quarter of fiscal 2008, the Company reported record net earnings of $35.5 million, an increase of 71.9% compared to net earnings of $20.7 million for the recast quarter ended April 29, 2006. Diluted earnings per share increased 65% to $0.38 per share in the current quarter versus $0.23 per share in the prior year quarter.
Paul Marciano, Chief Executive Officer, commented, “The strength of our brand and the solid execution of our global strategy have driven these record results, which represented our 15th consecutive quarter of earnings growth. I am extremely pleased with our team’s outstanding performance. All of our businesses generated double digit revenue growth, led by strong execution in our international operations. In Europe, the addition of Focus Europe, our contemporary line, and the growth of our existing businesses drove a 77% sales increase in the segment. Strong sales performance in South Korea drove Asian revenues higher and led to a 77% increase in our wholesale segment revenues.”
Mr. Marciano continued, “Our North American retail business performed extremely well, posting its 17th consecutive quarter of same store sales growth. And the strength of our accessory lines drove licensing revenue growth of 42%. It is important to note that our footwear licensee’s business has been expanding rapidly. Compared to just a year ago, their business has experienced explosive revenue growth, more than doubling its volume in the period. We continue to be very excited about the prospects of this business both domestically and internationally.”
Mr. Marciano concluded, “On a consolidated basis, we increased net earnings by 71.9%, driven by earnings growth in all of our businesses around the world. Our earnings were well balanced and our performance once again demonstrates the power of our diversified business model.”
Total net revenue for the first quarter of fiscal 2008 increased 42.3% to $377.9 million from $265.7 million in the prior-year period. The Company’s retail stores in the U.S. and Canada generated revenue of $179.5 million in the first quarter of fiscal 2008, a 19% increase from $150.9 million in the same period a year ago. Comparable store sales increased 13.6% for the quarter ended May 5, 2007, compared to the thirteen weeks ended May 6, 2006. The Company operated 336 retail stores in the U.S. and Canada at the end of the first quarter of fiscal 2008 versus 316 stores a year earlier.
Net revenue from the Company’s wholesale segment, which includes the Company’s Asian operations, increased 77.4% to $59.2 million in the first quarter of fiscal 2008, from $33.4 million in the prior-year period.
Net revenue from the Company’s European segment increased 77.2% to $118.9 million in the first quarter of fiscal 2008, compared to $67.1 million in the prior-year period.
Licensing segment net revenue increased 41.5% to $20.3 million in the first quarter of fiscal 2008, from $14.3 million in the prior-year period.
Operating earnings for the first quarter of fiscal 2008 increased 69.0% to $57.9 million from $34.3 million in the prior-year period. Operating margin in the first quarter improved 240 basis points to 15.3%, compared to the prior year’s quarter. This margin expansion was driven by better product margins, significant operating margin expansion in the wholesale segment, and the positive impact in the Company’s first quarter business mix of the higher European business. The Company’s SG&A rate increased 30 basis points quarter over quarter.
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Five-Week Transition Period and Recast 2006 Financial Results
The Company also announced today the financial results for the five-week transition period ended February 3, 2007 and the results for the recast fourth quarter and year ended February 3, 2007. The five-week transition period resulted from the Company’s decision to change its fiscal year. For the five-week transition period, revenues were $136.0 million, net earnings were $8.0 million and diluted earnings per share were $0.09 on a post-split basis. This represents a $0.09 improvement over the diluted earnings per share reported in the year-ago January period.
For the recast quarter ended February 3, 2007, revenues were $396.2 million, operating earnings were $71.4 million, operating margin reached 18.0% and net earnings were $45.9 million. Diluted earnings per share for the recast fourth quarter ended February 3, 2007 were $0.49.
Revenues for the recast year ended February 3, 2007 were $1.25 billion, operating earnings were $205.5 million, operating margin reached 16.4% and net earnings were $131.2 million. Diluted earnings per share for the recast year ended February 3, 2007 were $1.42.
The quarterly and annual recast financial information for 2006 is included in today’s press release and is posted on the Company’s website under the “Investor’s Info” link.
Outlook
The Company’s expectations for the second quarter ending July 7, 2007, are as follows:
- | Consolidated net revenues are expected to range from $335 million to $345 million. |
- | Operating margin is expected to be about 14%. |
- | Diluted earnings per share are expected to be in the range of $0.31 to $0.33. |
The Company’s expectations for the fiscal year ending February 2, 2008, are now as follows:
- | Consolidated net revenues are expected to range from $1.51 billion to $1.56 billion. |
- | Operating margin is expected to be about 17.5%. |
- | Diluted earnings per share are expected to be in the range of $1.75 to $1.80. |
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The fiscal year ending February 2, 2008 will include 52 weeks and a four-week January, compared to the recast year ended February 3, 2007, which included 53 weeks and a five-week January.
Dividend
The Company also announced today that its Board of Directors has declared a cash dividend of $0.06 per share on the Company’s common stock. The dividend will be payable on July 6, 2007 to shareholders of record at the close of business on June 20, 2007.
The Company will hold a conference call at 4:30 pm (ET) on June 5, 2007 to discuss the news announced in this press release. A live webcast of the conference call will be accessible at www.guessinc.com via the “Investor’s Info” link. The webcast will be archived on the website for 30 days.
Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, accessories and related consumer products. At May 5, 2007 the Company operated 336 retail stores in the United States and Canada. The Company also distributes its products through better department and specialty stores around the world. For more information about the Company, please visit www.guessinc.com.
Except for historical information contained herein, certain matters discussed in this press release, including statements concerning the Company’s future prospects and guidance for fiscal year 2008, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only expectations, and involve known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from what is currently anticipated. Factors which may cause actual results in future periods to differ materially from current expectations include our ability to, among other things, anticipate consumer preferences, effectively operate our retail stores, effectively manage inventories, successfully execute our strategies, including our supply chain and international growth strategies, and domestic and international general economic conditions and consumer confidence. In addition to these factors, the economic and other factors identified in the Company’s most recent annual report on Form 10-K and other filings with the Securities and Exchange Commission, including but not limited to the risk factors discussed therein, could cause actual results to differ materially from current expectations.
4
Guess?, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(dollars in thousands, except per share data)
Three Months Ended | |||||||||||||
May 5, | April 29, | ||||||||||||
2007 | 2006 | ||||||||||||
$ | % | $ | % | ||||||||||
Net revenue | |||||||||||||
Product sales | $ | 357,643 | 94.6 | % | $ | 251,337 | 94.6 | % | |||||
Net royalties | 20,306 | 5.4 | % | 14,346 | 5.4 | % | |||||||
377,949 | 100.0 | % | 265,683 | 100.0 | % | ||||||||
Cost of product sales | 210,367 | 55.7 | % | 155,073 | 58.4 | % | |||||||
Gross profit | 167,582 | 44.3 | % | 110,610 | 41.6 | % | |||||||
Selling, general and administrative expenses | 109,648 | 29.0 | % | 76,333 | 28.7 | % | |||||||
Earnings from operations | 57,934 | 15.3 | % | 34,277 | 12.9 | % | |||||||
Other (income) expense: | |||||||||||||
Interest expense | 924 | 0.2 | % | 1,465 | 0.6 | % | |||||||
Interest income | (1,712 | ) | (0.5 | %) | (1,227 | ) | (0.5 | %) | |||||
Other, net | 891 | 0.3 | % | (297 | ) | (0.1 | %) | ||||||
Earnings before income taxes and minority interest | 57,831 | 15.3 | % | 34,336 | 12.9 | % | |||||||
Income taxes | 22,363 | 5.9 | % | 13,665 | 5.1 | % | |||||||
Minority interest | (59 | ) | (0.0 | %) | --- | --- | |||||||
Net earnings | $ | 35,527 | 9.4 | % | $ | 20,671 | 7.8 | % | |||||
Net earnings per share: | |||||||||||||
Basic | $ | 0.39 | $ | 0.23 | |||||||||
Diluted | $ | 0.38 | $ | 0.23 | |||||||||
Weighted number of shares outstanding: | |||||||||||||
Basic | 91,886 | 90,146 | |||||||||||
Diluted | 93,240 | 91,622 |
5
Guess?, Inc. and Subsidiaries
Consolidated Segment Data
(in thousands)
Three Months Ended | ||||||||||
May 5, | April 29, | % | ||||||||
2007 | 2006 | chg | ||||||||
Net revenue: | ||||||||||
Retail operations | $ | 179,529 | $ | 150,861 | 19 | % | ||||
Wholesale operations | 59,195 | 33,360 | 77 | % | ||||||
European operations | 118,919 | 67,116 | 77 | % | ||||||
Licensing operations | 20,306 | 14,346 | 42 | % | ||||||
$ | 377,949 | $ | 265,683 | 42 | % | |||||
Earnings (loss) from operations: | ||||||||||
Retail operations | $ | 19,892 | $ | 13,689 | 45 | % | ||||
Wholesale operations | 10,701 | 3,072 | 248 | % | ||||||
European operations | 27,717 | 16,944 | 64 | % | ||||||
Licensing operations | 17,357 | 11,888 | 46 | % | ||||||
Corporate overhead | (17,733 | ) | (11,316 | ) | 57 | % | ||||
$ | 57,934 | $ | 34,277 | 69 | % | |||||
Operating margins: | ||||||||||
Retail operations | 11.1 | % | 9.1 | % | ||||||
Wholesale operations | 18.1 | % | 9.2 | % | ||||||
European operations | 23.3 | % | 25.2 | % | ||||||
Licensing operations | 85.5 | % | 82.9 | % | ||||||
Total Company | 15.3 | % | 12.9 | % | ||||||
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Guess?, Inc. and Subsidiaries
Selected Condensed Consolidated Balance Sheet Data
(in thousands)
May 5, | February 3, | April 29, | ||||||||
2007 | 2007 | 2006 | ||||||||
ASSETS | ||||||||||
Cash and cash equivalents | $ | 189,396 | $ | 207,617 | $ | 155,533 | ||||
Receivables, net | 206,383 | 142,659 | 125,976 | |||||||
Inventories, net | 164,500 | 173,668 | 108,241 | |||||||
Other current assets | 39,373 | 39,523 | 34,166 | |||||||
Property and equipment, net | 176,722 | 162,555 | 150,730 | |||||||
Other assets | 126,412 | 117,300 | 97,026 | |||||||
Total Assets | $ | 902,786 | $ | 843,322 | $ | 671,672 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||
Current installments of notes payable, long-term debt and capital lease | $ | 37,547 | $ | 20,804 | $ | 44,768 | ||||
Other current liabilities | 253,171 | 258,725 | 164,536 | |||||||
Notes payable, long-term debt and capital lease, excluding current installments | 17,796 | 17,336 | 52,152 | |||||||
Other liabilities | 103,328 | 103,126 | 88,420 | |||||||
Minority interest | 4,548 | 4,607 | --- | |||||||
Stockholders' equity | 486,396 | 438,724 | 321,796 | |||||||
Total Liabilities and Stockholders' Equity | $ | 902,786 | $ | 843,322 | $ | 671,672 | ||||
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Guess?, Inc. and Subsidiaries
Condensed Consolidated Cash Flow Data
(in thousands)
Three Months Ended | |||||||
May 5, | April 29, | ||||||
2007 | 2006 | ||||||
Net cash used in operating activities | $ | (11,357 | ) | $ | (17,726 | ) | |
Net cash used in investing activities | (24,867 | ) | (13,039 | ) | |||
Net cash provided by financing activities | 16,440 | 18,559 | |||||
Effect of exchange rates on cash | 1,563 | 545 | |||||
Net increase in cash and cash equivalents | (18,221 | ) | (11,661 | ) | |||
Cash and cash equivalents at the beginning of the year | 207,617 | 167,194 | |||||
Cash and cash equivalents at the end of the period | $ | 189,396 | $ | 155,533 | |||
Supplemental information: | |||||||
Depreciation and amortization | $ | 12,702 | $ | 8,372 | |||
Rent | 25,875 | 20,160 |
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Guess?, Inc. and Subsidiaries
Retail Store Data
U.S. and Canada
Three Months Ended | |||||||
May 5, | April 29, | ||||||
2007 | 2006 | ||||||
Number of stores at the beginning of the year | 334 | 311 | |||||
Store openings | 8 | 9 | |||||
Store closures | (6 | ) | (4 | ) | |||
Number of stores at the end of the period | 336 | 316 | |||||
Total store square footage at the end of the period | 1,603,000 | 1,553,000 |
9
Guess?, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(dollars in thousands, except per share data)
Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||
April 29, | July 29, | October 28, | February 3, | February 3, | |||||||||||||||||||||||||||
2006 | 2006 | 2006 | 2007 | 2007 | |||||||||||||||||||||||||||
$ | % | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||||||
Net revenue | |||||||||||||||||||||||||||||||
Product sales | $ | 251,337 | 94.6 | % | $ | 247,685 | 94.6 | % | $ | 311,914 | 94.9 | % | $ | 374,592 | 94.5 | % | $ | 1,185,528 | 94.6 | % | |||||||||||
Net royalties | 14,346 | 5.4 | % | 14,264 | 5.4 | % | 16,902 | 5.1 | % | 21,624 | 5.5 | % | 67,136 | 5.4 | % | ||||||||||||||||
265,683 | 100.0 | % | 261,949 | 100.0 | % | 328,816 | 100.0 | % | 396,216 | 100.0 | % | 1,252,664 | 100.0 | % | |||||||||||||||||
Cost of product sales | 155,073 | 58.4 | % | 151,618 | 57.9 | % | 174,285 | 53.0 | % | 219,179 | 55.3 | % | 700,155 | 55.9 | % | ||||||||||||||||
Gross profit | 110,610 | 41.6 | % | 110,331 | 42.1 | % | 154,531 | 47.0 | % | 177,037 | 44.7 | % | 552,509 | 44.1 | % | ||||||||||||||||
Selling, general and administrative expenses | 76,333 | 28.7 | % | 76,683 | 29.3 | % | 88,366 | 26.9 | % | 105,608 | 26.7 | % | 346,990 | 27.6 | % | ||||||||||||||||
Earnings from operations | 34,277 | 12.9 | % | 33,648 | 12.8 | % | 66,165 | 20.1 | % | 71,429 | 18.0 | % | 205,519 | 16.4 | % | ||||||||||||||||
Other (income) expense: | |||||||||||||||||||||||||||||||
Interest expense | 1,465 | 0.6 | % | 1,794 | 0.7 | % | 1,517 | 0.5 | % | 2,886 | 0.7 | % | 7,662 | 0.6 | % | ||||||||||||||||
Interest income | (1,227 | ) | (0.5 | %) | (1,494 | ) | (0.6 | %) | (1,770 | ) | (0.6 | %) | (1,748 | ) | (0.4 | %) | (6,239 | ) | (0.5 | %) | |||||||||||
Other, net | (297 | ) | (0.1 | %) | (827 | ) | (0.3 | %) | (1,646 | ) | (0.5 | %) | (1,890 | ) | (0.5 | %) | (4,660 | ) | (0.4 | %) | |||||||||||
Earnings before income taxes and minority interest | 34,336 | 12.9 | % | 34,175 | 13.0 | % | 68,064 | 20.7 | % | 72,181 | 18.2 | % | 208,756 | 16.7 | % | ||||||||||||||||
Income taxes | 13,665 | 5.1 | % | 13,652 | 5.1 | % | 23,963 | 7.3 | % | 26,335 | 6.6 | % | 77,615 | 6.2 | % | ||||||||||||||||
Minority interest | --- | --- | (123 | ) | (0.0 | %) | 111 | 0.0 | % | (19 | ) | (0.0 | %) | (31 | ) | (0.0 | %) | ||||||||||||||
Net earnings | $ | 20,671 | 7.8 | % | $ | 20,646 | 7.9 | % | $ | 43,990 | 13.4 | % | $ | 45,865 | 11.6 | % | $ | 131,172 | 10.5 | % | |||||||||||
Net earnings per share: | |||||||||||||||||||||||||||||||
Basic | $ | 0.23 | $ | 0.23 | $ | 0.48 | $ | 0.50 | $ | 1.44 | |||||||||||||||||||||
Diluted | $ | 0.23 | $ | 0.22 | $ | 0.48 | $ | 0.49 | $ | 1.42 | |||||||||||||||||||||
Weighted number of shares outstanding: | |||||||||||||||||||||||||||||||
Basic | 90,146 | 90,594 | 90,846 | 91,506 | 90,786 | ||||||||||||||||||||||||||
Diluted | 91,622 | 91,936 | 92,250 | 92,892 | 92,222 |
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Guess?, Inc. and Subsidiaries
Consolidated Segment Data
(in thousands)
Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Twelve Months Ended | ||||||||||||
Apr 29, | Jul 29, | Oct 28, | Feb 3, | Feb 3, | ||||||||||||
2006 | 2006 | 2006 | 2007 | 2007 | ||||||||||||
Net revenue: | ||||||||||||||||
Retail operations | $ | 150,861 | $ | 166,095 | $ | 178,834 | $ | 245,314 | $ | 741,104 | ||||||
Wholesale operations | 33,360 | 32,824 | 43,939 | 42,500 | 152,623 | |||||||||||
European operations | 67,116 | 48,766 | 89,141 | 86,778 | 291,801 | |||||||||||
Licensing operations | 14,346 | 14,264 | 16,902 | 21,624 | 67,136 | |||||||||||
$ | 265,683 | $ | 261,949 | 328,816 | 396,216 | $ | 1,252,664 | |||||||||
Earnings (loss) from operations: | ||||||||||||||||
Retail operations | $ | 13,689 | $ | 20,939 | $ | 26,787 | $ | 44,109 | $ | 105,524 | ||||||
Wholesale operations | 3,072 | 5,394 | 9,040 | 7,660 | 25,166 | |||||||||||
European operations | 16,944 | 8,219 | 31,103 | 16,914 | 73,180 | |||||||||||
Licensing operations | 11,888 | 13,232 | 13,115 | 20,421 | 58,656 | |||||||||||
Corporate overhead | (11,316 | ) | (14,136 | ) | (13,880 | ) | (17,675 | ) | (57,007 | ) | ||||||
$ | 34,277 | $ | 33,648 | $ | 66,165 | $ | 71,429 | $ | 205,519 | |||||||
Operting margins: | ||||||||||||||||
Retail operations | 9.1 | % | 12.6 | % | 15.0 | % | 18.0 | % | 14.2 | % | ||||||
Wholesale operations | 9.2 | % | 16.4 | % | 20.6 | % | 18.0 | % | 16.5 | % | ||||||
European operations | 25.2 | % | 16.9 | % | 34.9 | % | 19.5 | % | 25.1 | % | ||||||
Licensing operations | 82.9 | % | 92.8 | % | 77.6 | % | 94.4 | % | 87.4 | % | ||||||
12.9 | % | 12.8 | % | 20.1 | % | 18.0 | % | 16.4 | % |
11
Guess?, Inc. and Subsidiaries
Selected Condensed Consolidated Balance Sheet Data
(in thousands)
April 29, | July 29, | October 28, | February 3, | ||||||||||
2006 | 2006 | 2006 | 2007 | ||||||||||
ASSETS | |||||||||||||
Cash and cash equivalents | $ | 155,533 | $ | 196,027 | $ | 163,806 | $ | 207,617 | |||||
Restricted cash | --- | --- | 16,361 | --- | |||||||||
Receivables, net | 125,976 | 109,068 | 173,750 | 142,659 | |||||||||
Inventories, net | 108,241 | 132,453 | 144,514 | 173,668 | |||||||||
Other current assets | 34,166 | 36,911 | 39,097 | 39,523 | |||||||||
Property and equipment, net | 150,730 | 157,755 | 160,677 | 162,555 | |||||||||
Other assets | 97,026 | 104,630 | 109,337 | 117,300 | |||||||||
Total Assets | $ | 671,672 | $ | 736,844 | $ | 807,542 | $ | 843,322 | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||
Current installments of notes payable, long-term debt and capital lease | $ | 44,768 | $ | 26,262 | $ | 52,585 | $ | 20,804 | |||||
Other current liabilities | 164,536 | 226,805 | 229,159 | 258,725 | |||||||||
Notes payable, long-term debt and capital lease, excluding current installments | 52,152 | 46,946 | 41,122 | 17,336 | |||||||||
Other long-term liabilities | 88,420 | 88,606 | 87,930 | 103,126 | |||||||||
Minority interest | --- | 367 | 478 | 4,607 | |||||||||
Stockholders' equity | 321,796 | 347,858 | 396,268 | 438,724 | |||||||||
Total Liabilities and Stockholders' Equity | $ | 671,672 | $ | 736,844 | $ | 807,542 | $ | 843,322 |
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Guess?, Inc. and Subsidiaries
Condensed Consolidated Cash Flow Data
(in thousands)
Three Months Ended | Six Months Ended | Nine Months Ended | Twelve Months Ended | ||||||||||
April 29, | July 29, | October 28, | February 3, | ||||||||||
2006 | 2006 | 2006 | 2007 | ||||||||||
Net cash (used in) provided by operating activities | $ | (17,726 | ) | $ | 63,102 | $ | 39,514 | $ | 141,738 | ||||
Net cash used in investing activities | (13,039 | ) | (32,813 | ) | (47,785 | ) | (75,708 | ) | |||||
Net cash provided (used in) financing activities | 18,559 | (2,087 | ) | 4,243 | (25,942 | ) | |||||||
Effect of exchange rates on cash | 545 | 631 | 640 | 335 | |||||||||
Net (decrease) increase in cash and cash equivalents | (11,661 | ) | 28,833 | (3,388 | ) | 40,423 | |||||||
Cash and cash equivalents at the beginning of the year | 167,194 | 167,194 | 167,194 | 167,194 | |||||||||
Cash and cash equivalents at the end of the period | $ | 155,533 | $ | 196,027 | $ | 163,806 | $ | 207,617 | |||||
Supplemental information: | |||||||||||||
Depreciation and amortization | $ | 8,372 | $ | 17,888 | $ | 27,991 | $ | 39,600 | |||||
Rent | 20,160 | 41,195 | 63,003 | 85,368 |
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Guess?, Inc. and Subsidiaries
Retail Store Data
U.S. and Canada
Three Months Ended | Six Months Ended | Nine Months Ended | Twelve Months Ended | ||||||||||
April 29, | July 29, | October 28, | February 3, | ||||||||||
2006 | 2006 | 2006 | 2007 | ||||||||||
Number of stores at the beginning of the year | 311 | 311 | 311 | 311 | |||||||||
Store openings | 9 | 17 | 27 | 33 | |||||||||
Store closures | (4 | ) | (6 | ) | (6 | ) | (10 | ) | |||||
Number of stores at the end of the period | 316 | 322 | 332 | 334 | |||||||||
Total store square footage at the end of the period | 1,553,000 | 1,574,000 | 1,607,000 | 1,610,000 |
Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Twelve Months Ended | ||||||||||||
April 29, | July 29, | October 28, | February 3, | February 3, | ||||||||||||
2006 | 2006 | 2006 | 2007 | 2007 | ||||||||||||
Comparable store sales percentage increase | 12.6 | % | 13.7 | % | 8.9 | % | 11.0 | % | 11.4 | % |
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