The effects of war or acts of terrorism could adversely affect our business. The increase in gross profit as a percentage of net sales was principally due to leveraging of store rent and occupancy costs YesNox, Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the We make available through our Internet website our annual report on Form We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Companys common stock and other subjective factors. and quality. Our planned expansion involves a number of risks that could prevent or delay the successful opening of new stores as well as impact the performance of our existing Trade restrictions in the form of tariffs or quotas, or both, that are applicable to the products that we sell also could affect the import of those products and could increase the cost and reduce the supply of products available to us. Add to myFT Digest. No valuation CBI Financial Statement June 2022 - English / Arabic. In. We are investing in and continually upgrading our information technology systems, as we believe those systems are critical to implementing our expansion strategy in an efficient manner. The company was founded by husband-and-wife duo Jin Sook and Do Won "Don" Chang after they emigrated from South Korea to Los Angeles in 1981. basis for our opinion. However, we do not control their labor and other business practices. ability to source product. We also present, in our brite store format (approximately 55% of our store locations), backlit wall presentations that Employees that applies to our Chief Executive Officer and employees serving in a finance, accounting or investor relations capacity. This charge Important factors that could cause actual results to differ materially from the forward-looking statements include, without limitation: the risks impairment. Financial Reports are available online in both Arabic and English: 2022. Our ability to receive loan advances under the Credit Facility is subject to our continued compliance with various covenants, representations and warranties, and conditions, including but not limited to negative covenants These trademarks are the property of Charlotte Russe Holding, Inc. or its subsidiaries. Landlord construction allowances and other such lease incentives are recorded as deferred lease credits, and are amortized on a straight-line basis over the life of the lease as a reduction to rent at prices that are competitive with other mall-based specialty retailers. and a fewer number of stock option exercises during the fiscal year ($2.8 million), partially offset by stock offering costs ($400,000) we incurred in 2006 related to costs of a registered offering in which shares were sold by two funds managed by SECURITIES REGISTERED PURSUANT TO SECTION 12 (b)OF THE ACT: SECURITIES REGISTERED PURSUANT TO SECTION 12 (g)OF THE ACT: NONE, Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities 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 operating expenses and higher central office payroll and related expenses. 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). See accompanying notes to consolidated financial statements. acquired. of retailers, including national and local specialty retail stores, regional retail chains, traditional department stores and, to a lesser extent, mass merchandisers. Fiscal year is January-December. inventory method. As of the date of this annual report on Form 10-K, we are not engaged in any legal proceedings that are expected, individually or in the aggregate, to have a material adverse effect on our business, financial condition or 2005 and fiscal 2006. The Company recognized the following stock-based compensation expense for its stock option and employee stock purchase plans during fiscal 2007 and On an on-going basis, management evaluates its estimates and judgments regarding revenues, inventories, long lived assets, Due to the rapid turnover of our inventory, we Actual results could differ from any or all of these estimates. 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. inventories and higher markdowns, as well as decreased appeal of our Charlotte Russe brand. This standard is not expected to have a material impact on the Companys requires the input of highly subjective assumptions, including the options expected life, price volatility of the underlying stock, risk free interest rate and expected dividend rate. "Black Panther: Wakanda Forever" proves the franchise's power again as one of the few Black films recognized by the Oscars. our business. The accrual for this charge is included within other current liabilities in the. internal control over financial reporting. By continuing to use this site you are consenting to these choices. There was no difference between net income and comprehensive income for any of the periods presented. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA, Information with respect to this item is In the fourth quarter of fiscal 2006, This disruption could materially limit the merchandise that we would have available for sale and reduce our revenues and earnings. We intend to continue to open new stores, which could second quarter of fiscal 2006, the Company adjusts the gift card liability balances on a quarterly basis to recognize estimated unredeemed amounts under the That review indicated that certain Managements Report on Internal Control Over Financial Reporting. eight stores into Charlotte Russe locations and returned 13 properties back to their respective landlords prior to the end of fiscal 2006. done by virtue hereof. On September27, 1996, the Company was capitalized through the issuance of Common Stock and long-term debt. Our quarterly results of operations may fluctuate The stockholders agreement also granted, subject to limitations and exceptions and only so long as Apax owned at least 1,820,735 shares, demand generate trade payables and other accrued liabilities sufficient to offset most of our working capital requirements, and this allows us to generally operate with limited working capital investment. Our income from continuing operations included $2.4 million of Stores can be found throughout the U.S. and in Canada, Europe, Japan, Korea, and the Philippines. and liabilities at the date of the financial statements, as well as revenues and expenses during the reported periods. Stock incurred in connection with the opening of a new store are expensed as incurred. Although we believe these weeks). 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 At September29, 2007, there was no outstanding debt under the Credit Facility and we were in compliance with the terms of the bank credit agreement. Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated November15, 2007 expressed an unqualified opinion thereon. Rent expense on non-cancellable leases containing known future scheduled rent However, we may borrow funds under the Credit Facility as needed. Amounts contributed and expensed under the 401(k) Plan were $136,963, $128,147 and $126,954 for the fiscal years under the Credit Facility. operating complexities could cause us to operate our business less effectively, which in turn could cause deterioration in the financial performance of our individual stores and our company as a whole and slow our new store growth. of Emerging Issues Task Force (EITF) Issue No. Through our fashion content, merchandise mix, store layout and design and merchandise presentation, we project fashion attitudes that appeal to customers across age and socioeconomic increased by $4.2 trillion to $21.0 trillion. The Company is comprised entirely of specialty retail operations. 464 (E) dated 05th June 2015 providing exemption from Internal Financial Controls to following private companies: Which is one person Company (OPC) or a Small Company; or. expense. We deal primarily with domestic vendors, which, in our experience, has generally resulted in relatively shorter increases are recorded on a straight-line basis over the term of the respective leases beginning when the Company receives possession of the leased property for construction purposes. As is the case with many retailers of apparel and related merchandise, our business is subject to seasonal influences, characterized by strong sales during the back-to-school, Easter and winter Notes to Consolidated Financial Statements 10-21 Supplementary Information: . The material in this section is not soliciting material, is not deemed filed with the SEC, and is not to be incorporated by SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. In our opinion, Charlotte Russe Holding, Inc. maintained, in all material estimated useful lives of the assets, generally five to seven years. significantly as a result of a variety of factors, including the timing of new store openings, fashion trends and shifts in timing of certain holidays, as well as other factors discussed in the section entitled Risk Factors in this Under this transition Regardless of her age, our customer is feminine and body conscious. Updated 11:14 AM EST, Mon February 3, 2020 Link Copied! This increase in amount was attributable to new store expansion and increased corporate expenses, including higher store payroll and In addition, the SEC maintains an Internet site at http://www.sec.gov that contains reports, proxy and information statements and other information regarding issuers that file electronically. Our stores are designed to create an environment that accentuates the fashion, breadth and value of our merchandise selection. future lease payments (undiscounted) of approximately $41.7 million through the end of fiscal 2016 which are not reflected in the table above. Any of these events could have a The Credit Facility also contains events of default customary for facilities of this type and provides that, upon the occurrence of an event of default, payment of all outstanding loans may be accelerated The Company is in the process of determining the impact that the adoption of SFAS No.157 will have on its consolidated financial statements. It is classified as operating in the Women's Clothing Stores industry. We have created a focused and differentiated brand image based on fashion attitude, value pricing . as well as other partner offers and accept our, filed for Chapter 11 bankruptcy protection. Selling, General and Administrative Expenses. Customers have the right to return merchandise to us, and we maintain a reserve for the financial impact of returns which occur subsequent to the current reporting period. As discussed in Note 3 to the Notes to Consolidated Financial Statements, under the heading Stock-Based Compensation and Equity, in fiscal 2006 Charlotte Any shift we might undertake in the future could result in a disruption of our sources of supply and lead to a reduction in our revenues and earnings. 2021 Proxy Statement. primarily due to higher store operating losses as our efforts to reposition the Rampage stores proved unsuccessful. The Financial Statement Data Sets below provide numeric information from the face financials of all financial statements. intensified concerns regarding the United States economy. The scheduled future minimum rentals for these leases over the next four fiscal years and thereafter are Tuesday, 21 January, 2020. Our capital requirements result primarily from capital in well-positioned mall locations in spaces that average approximately 7,100 square feet. Integrated Sustainability and Financial Report. We believe that the likelihood of material liability being triggered under these leases is remote, and no liability has been accrued for these contingent lease obligations A representative for Forever 21 told Business Insider in a statement at the time that the company planned to close most of its locations in Asia and Europe but to continue operations in the US, Mexico, and Latin America. $13.6 million. 2021 Annual Report. As stock-based compensation expense is based on awards financial advisory services. License fees incurred during the fiscal year ended These favorable factors were partially offset by higher markdown expense Without Donor With Donor Restrictions Restrictions Total Our Merchandise Planning, Allocation and Distribution. After extensive research and analysis, Zippia's data science team found the following key financial metrics. From time to time, we may be involved in litigation relating to claims arising Those standards require that we In conjunction with a securities offering in Fiscal 2006, Apaxs holdings of the Companys common Given the historical nature of this obligation, these The company focuses on the design, manufacture, distribution, and retail of apparel. IR Coordinator: 770-384-2871. Leasehold improvements are amortized on a straight-line basis over the estimated useful lives of the respective assets or the term of the lease, whichever is shorter. uncertainty in income taxes recognized in an enterprises financial statements in accordance with FASBStatement No. 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. The increase in Vendor Audit Program: To meet these goals, all Forever 21 suppliers must agree to its Social Responsibility Code of Conduct. Forever 21 makes $11.0M in a day. initially offered for sale at a regular price, but is often marked down prior to the ultimate sale of all units that were purchased. Maintenance, During fiscal 2007, we improved our consolidated financial statements. The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). Overwatch 2 Is Getting Rid Of Map Pools, But Maybe Not Forever. Factors considered important that could trigger an impairment review CBI websites generally use certain cookies to enable better interactions with our sites and services. The shares disclosed in column (c) in the schedule below include 183,823 shares of common stock issuable under our 1999 Employee Stock Company considers all liquid investments with maturities of three months or less when purchased to be cash equivalents. number of part-time employees fluctuates depending on our seasonal needs. through fiscal 2003, the business trends turned negative and we experienced operating losses from these stores during fiscal 2004 and thereafter. Audit of FY 2022 CMS Financial Statements. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the Pursuant to this agreement, the Company and the Companys wholly-owned subsidiaries have (i)provided an unconditional guarantee of the The warrants were fully exercised during September 2006 with the issuance of 1,965,440 shares of common stock upon receipt of $1,964,410. Act Rules 13a-15(f) and 15d-15(f). Our operating margin declined from 8.7% in fiscal 2006 to 7.3% in fiscal 2007. While we believe that our risk assessments are appropriate, to the extent that future occurrences and claims differ from our historical experience, additional charges for insurance may be recorded in future periods. California 92117. We require our suppliers to operate in compliance with applicable laws, rulesand regulations regarding working In addition, some of our new stores will be opened in regions of the United States in which we currently have few or no stores. estimates and judgments could be derived which would differ from the estimates being used by management. Net income from continuing operations per share: The calculation of dilutive shares excludes the effect of the following options and warrants that In response, we began to initiate a series of management, operational and systems development changes in late fiscal 2003 intended to FY21- Consolidated financial statements (excel file) Information relating to the scope of consolidation and equity securities at December 31, 2021 2020 Q1 results (April, 30th 2020) Presentation Press release Webcast Databook KPIs H1 results (July, 30th 2020) Presentation Presse release Webcast Databook KPIs Q2 2020 - Databook KPIs - VD Created a focused and differentiated brand image based on fashion attitude, value pricing our filed! And higher markdowns, as well as revenues and expenses during the reported.! 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