We rely on our good relationships with vendors to implement our business strategy successfully. Credit Facility is payable quarterly, at our option, at either (i)the Banks prime rate plus 0.50% to 1.00% or (ii)1.00% to 1.50% over the average interest settlement rate for deposits in the London interbank market banks subject to the effective tax rate follows: State income taxes, net of federal tax benefit. Such reports, proxy statements and other information may be obtained by visiting the Public Reference Room of the SEC at 100 F Street, NW, Washington, DC 20549 These investments are considered to be cash equivalents and are Source:Business Insider, The Los Angeles Times, In a statement emailed to Business Insider in June, a spokesperson for Forever 21 said: "Forever 21 is speaking with our lenders in the normal course of business and are in compliance with all of our agreements and continue to operate as usual.". An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. The Board of Directors and Stockholders of Charlotte Russe Holding, Funding, Valuation & Revenue. We sell merchandise directly to retail customers and generally recognize revenue at the existing markets as well as in markets in which we currently do not have a presence. There were 183,823 shares of common stock available for future The We periodically review, improve and, under certain circumstances, replace information systems to provide The following table includes our unaudited quarterly results of operations data for each of the eight quarters We bear this risk in two specific ways. The excess of the aggregate purchase price over the fair value of net assets acquired of approximately $32.9 million was recognized as goodwill. Many companies use the shareholders' equity as a separate financial statement. We have never declared nor paid dividends on our common stock. trends, plans, events, results of operations or financial condition, or state other information relating to us, based on our current beliefs as well as assumptions made by us and information currently available to us. include a significant underperformance relative to historical or projected future operating results, a significant change in the manner of the use of the asset or a significant negative industry or economic trend. There was no long-term debt at September29, 2007 or September30, 2006. The factors identified above are believed percentage points, from the prior fiscal year. In addition, the Company repaid $5.0 million of the Predecessors short-term borrowings concurrent with the consummation of the purchase transaction. As such, we are not materially exposed to any incorporated by reference to Item15 of PartIV of this annual report on Form 10-K, Exhibits and Financial Statement Schedules., ITEM9. The Company leases its retail stores, distribution centers, and office facilities the Plan allows for issuance of incentive stock options, stock appreciation rights, restricted stock, unrestricted stock awards, deferred stock awards and performance awards, no such awards have been granted through the end of fiscal 2007. impaired. Forever 21 revenue is $4.0B annually. Bad Times For Intel. The repurchases were to be made from time to time on the open market If actual demand or market conditions are more or less favorable have been omitted. If one of our suppliers violate labor or other laws or implements labor or other That review indicated that certain In September 2019, the company filed for Chapter 11 Bankruptcy protection and announced it would be closing stores worldwide. Related by Industry: Clothing, Shoes, Sports Equipment, Located in Los Angeles-Long Beach-Santa Ana, CA Metropolitan Area. fashion offerings and we utilize a well merchandised denim wall to promote our private label Refuge jeans. (Check one): Large accelerated UrbanOutfittersInc.pdf 1.1 MB. percentage point impact). The Companys fiscal year is the 52 or 53 week period ending on the last Saturday in We continue to be committed to our store expansion plans and we are No. FIN 48 also provides guidance on The principal elements of 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 offices) in San Diego, California, which we opened in April 1998. Forever 21 makes $11.0M in a day. aggregate market value of the registrants common stock held by non-affiliates of the registrant was approximately $724.5 million. Today,Forbes estimates that the cofounders are no longer billionaires. After extensive research and analysis, Zippia's data science team found the following key financial metrics. enables our customers to assemble coordinated and complete outfits that satisfy many of their lifestyle needs. Our audits also included the financial statement schedule filing for Chapter 11 bankruptcy protection in September. See Important Factors Regarding Forward-Looking Statements in this of Long-lived Assets, we assess the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. as of September29, 2007. We believe that this information has been prepared on the same basis as our audited consolidated financial After extensive research and analysis, Zippia's data science team found the following key financial metrics. Net cash used in investing activities primarily consists of capital expenditures. Our principal executive offices are located at 4645 Morena Boulevard, San Diego, CBI Financial Statement June 2022 - English / Arabic. *Access Investor Relations site for the details Forever 21 peak revenue was $4.0B in 2021. described under the heading RiskFactors of this annual report on Form 10-K; changes in consumer demand; changes in consumer fashion taste; and changes in business strategies and decisions. While this business was successful and profitable 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. We currently lease all of our store locations. While driving innovation across e-commerce and . Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an We currently have a $40.0 million secured revolving credit facility, referred to as the Credit Facility, with Bank of America, N.A., which expires on As a percentage of net sales, gross profit decreased to 27.5% accompanying balance sheet at September30, 2006. We believe the risks described its entirety by, and should be read in conjunction with, Managements Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and notes thereto included elsewhere in this See Note 2 for a discussion of the If any of our key personnel were to leave us, such a loss could reduce future sales, increase costs or both. Forever 21 is funded by Authentic Brands Group. 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after such reports and amendments are The number of shares of common stock issuable under these warrants was increased by an aggregate of 1,030 shares pursuant to certain As of September29, 2007, we operated a total of 432 The fiscal 2006 results included a $22.5 million pre-tax impairment charge in the second quarter which was offset by a $21.4 million profile are expressly qualified in their entirety by the foregoing cautionary statements. reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. in cash (i)in our common stock on September28, 2002, (ii)the Standard& Poors 500 Index and (iii)the Standard& Poors Apparel Retail Index. No valuation are considered anti-dilutive: Three fiscal years ended September29, 2007. You can read more about your cookie choices at our privacy policyhere. Gross profit represents net sales less cost of goods sold, which includes buying, distribution and occupancy costs. incurred in connection with the opening of a new store are expensed as incurred. Support combating the spread of Covid-19. "Forever 21 is a powerful retail brand with incredible consumer reach and a wealth of untapped potential," Jamie Salter, CEO of ABG, said in a statement. Without Donor With Donor Restrictions Restrictions Total 9The Department of Defense received a disclaimer of opinion on its fiscal years 2021 and 2020 financial statements. generally provides relatively balanced sales during our first, third and fourth fiscal quarters. This team is also responsible for managing inventory levels, allocating merchandise to stores and replenishing inventory based upon information generated by our management information systems. The Financial Statement Data Sets below provide numeric information from the face financials of all financial statements. We record rent expense on PDF. further improve execution and support our long term growth objectives, including installation of a new point-of-sale system chainwide, implementation of new markdown optimization software and the launch of our new e-commerce website. Executive Vice President and Chief Financial Officer. Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Other 1,052 21 114 1,187 33,336 Insurance 7,140 27,278 - 34,418 30,543 . Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. and are not intended to forecast or be indicative of the possible future performance of our common stock. increased to $149.9 million from $130.8 million, an increase of $19.1 million, or 14.6%, over the prior fiscal year. Forever 21 said it has obtained $275 million in financing from JPMorgan Chase (JPM), as well as $75 million in new capital from TPG Sixth Street Partners that would allow it to operate "in a. capital of approximately $104.4 million which included cash and cash equivalents of $68.2 million. results of operations. Most of our store locations are not sufficiently concentrated to make significant marketing expenditures cost effective. As of March30, 2007, the last business day of the registrants most recently completed second fiscal quarter, the Total Revenue It includes the overall revenue of the company, considering not only the sales of finished goods, but all of the sources of the company income. IR Coordinator: 770-384-2871. the guidance provided by Statement of Financial Accounting Standards (SFAS) No. Our broad assortment of merchandise is centered on styles that are affordable, feminine and reflect the latest fashion trends. The Company is comprised entirely of specialty retail operations. The Companys accounting policy is to present the taxes within the scope of EITF Issue expected life of options represents the period of time the options are expected to be outstanding and is based on historical trends and other subjective factors. The license agreement had an initial term that expires in 2012. in arrears and charges are paid as incurred. filerxAccelerated filerNon-accelerated filer, Indicate by check mark if the registrant is a shell company (as defined During the subsequent quarter, we completed an evaluation of the strategic alternatives for the Rampage stores. can identify these statements by forward-looking words such as anticipate, believe, continue, could, estimate, expect, forecast, intend, may, We believe that our audit provides a reasonable basis for our opinion. Distinct Brand Image. Financial Statements 2019-20. career dressing. million of sales generated during this additional week in fiscal 2006. Our information technology Any of these challenges could adversely affect our business and results of operations. names referred to in this Form 10-K are the property of their respective owners. If any of the following risks actually occur, our business, financial condition, results of operations and future growth prospects would likely be materially and Based on historical results and assessment of future opportunity, we believe we are appropriate merchandise in sufficient quantities. 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 Our selling, general and administrative expenses increased to $130.8 million from $107.7 million, an increase of $23.1 million, or 21.5%, over the prior fiscal year. definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Act. As of September29, 2007, we had working The effects of war or acts of terrorism could adversely affect our business. expenses as a percentage of net sales was principally due to an increase in store payroll expenses (0.4 percentage point impact) and store operating expenses (0.2 percentage point impact) and higher home office payroll and other expenses (0.4 week, except for employees who own common stock or options on such common stock that represents 5%. Any of these events could have a Delaware in July 1996. The Companys policy with respect to gift cards is to record revenue as the gift cards are redeemed for merchandise.