ZUMZ » Topics » Selling, General and Administrative Expenses

This excerpt taken from the ZUMZ 10-Q filed May 29, 2009.

Selling, General and Administrative Expenses

 

Selling, general and administrative, or “SG&A” expenses in the three months ended May 2, 2009 were $25.3 million compared with $22.9 million in the three months ended May 3, 2008, an increase of $2.4 million, or 10.5%.  This increase was primarily the result of costs associated with operating 52 new stores subsequent to May 3, 2008 and to a lesser extent increases in infrastructure and administrative staff to support our new store growth.  As a percentage of net sales, SG&A expenses increased to 33.0% in the three months ended May 2, 2009 from 29.1% in the three months ended May 3, 2008.  The increase in SG&A expenses as a percentage of net sales was primarily attributable to the increase in store payroll and payroll related costs, additional depreciation on new stores and administrative support for new store growth partially offset by a decrease in stock-based compensation.

 

These excerpts taken from the ZUMZ 10-K filed Mar 23, 2009.

Selling, General and Administrative Expenses

        Selling, general and administrative, or "SG&A," expenses in fiscal 2008 were $109.9 million compared with $98.0 million in fiscal 2007, an increase of $11.9 million, or 12.1%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth partially offset by a decrease in stock-based and incentive compensation expenses. As a percentage of net sales, SG&A expenses increased

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1.2 percentage points to 26.9% in fiscal 2008 from 25.7% in fiscal 2007. The increase in SG&A expenses as a percentage of net sales was primarily attributable to additional new store depreciation and store wages and benefits relative to the growth in net sales and increased shipping cost to stores, somewhat offset by a decrease in stock-based compensation and incentive compensation expenses.

Selling, General and Administrative Expenses

        Selling, general and administrative, or "SG&A," expenses in fiscal 2007 were $98.0 million compared with $75.8 million in fiscal 2006, an increase of $22.2 million, or 29.4%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth. As a percentage of net sales, SG&A expenses increased to 25.7% in fiscal 2007 from 25.4% in fiscal 2006. The increase in SG&A expenses as a percentage of

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net sales was primarily attributable to the increased stock based compensation of $2.5 million and increased depreciation expense of $3.9 million, partially offset by lower growth in store wages and benefits relative to the growth in net sales and lower incentive compensation expense.

This excerpt taken from the ZUMZ 10-Q filed Dec 1, 2008.

Selling, General and Administrative Expenses

 

Selling, general and administrative, “SG&A,” expenses for the nine months ended November 1, 2008 were $78.0 million compared with $68.8 million in the nine months ended November 3, 2007, an increase of $9.2 million, or 13.4%.  This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth partially offset by a decrease in stock-based and incentive compensation expenses, and shipping costs to stores.  As a percentage of net sales, SG&A expenses increased to 27.5% in the nine months ended November 1, 2008 from 27.0% in the nine months ended November 3, 2007.  The increase in SG&A expenses as a percentage of net sales was primarily attributable to additional new store depreciation and store wages and benefits relative to the growth in net sales somewhat offset by a decrease in stock-based compensation and incentive compensation expenses.

 

This excerpt taken from the ZUMZ 10-Q filed Aug 28, 2008.

Selling, General and Administrative Expenses

 

Selling, general and administrative, “SG&A,” expenses for the six months ended August 2, 2008 were $49.1 million compared with $43.0 million in the six months ended August 4, 2007, an increase of $6.1 million, or 14.2%.  This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth partially offset by a decrease in stock-based compensation and incentive compensation expenses.  As a percentage of net sales, SG&A expenses increased to 28.7% in the six months ended August 2, 2008 from 28.5% in the six months ended August 4, 2007.  The increase in SG&A expenses as a percentage of net sales was primarily attributable to additional new store depreciation and store wages and benefits relative to the growth in net sales somewhat offset by a decrease in stock-based compensation and incentive compensation expenses.

 

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This excerpt taken from the ZUMZ 10-Q filed May 30, 2008.

Selling, General and Administrative Expenses

 

Selling, general and administrative, or “SG&A” expenses in the three months ended May 3, 2008 were $22.9 million compared with $19.5 million in the three months ended May 5, 2007, an increase of $3.4 million, or 17.4%.  This increase was primarily the result of costs associated with operating new stores and to a lesser extent increases in infrastructure and administrative staff to support our growth.  As a percentage of net sales, SG&A expenses increased to 29.1% in the three months ended May 3, 2008 from 28.4% in the three months ended May 5, 2007.  The increase in SG&A expenses as a percentage of net sales was primarily attributable to the increase in store payroll and payroll related costs, additional depreciation on new stores and administrative support for new store growth.

 

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This excerpt taken from the ZUMZ 10-K filed Mar 25, 2008.

Selling, General and Administrative Expenses

        Selling, general and administrative, or "SG&A," expenses in fiscal 2006 were $75.8 million compared with $52.5 million in fiscal 2005, an increase of $23.3 million, or 44.4%. This increase was primarily the result of costs associated with operating new stores, increases in infrastructure and administrative staff to support our growth and the costs of being a public company, including Sarbanes-Oxley costs, accounting fees, legal fees, and other related expenses. As a percentage of net sales, SG&A expenses decreased to 25.4% in fiscal 2006 from 25.5% in fiscal 2005. The decrease in SG&A expenses as a percentage of net sales was primarily a result of leveraging fixed operating costs offset by an increase in store payroll for new stores of $9.5 million, additional depreciation of $3.0 million, Sarbanes-Oxley costs of $1.0 million, increased stock based compensation expense of $1.7 million and to a lesser extent, additional infrastructure and administrative staff costs to support our growth.

This excerpt taken from the ZUMZ 10-Q filed Dec 13, 2007.

Selling, General and Administrative Expenses

 

Selling, general and administrative, “SG&A,” expenses for the nine months ended November 3, 2007 were $69.0 million compared with $49.9 million in the  nine months ended October 28, 2006, an increase of $19.1 million, or 38.3%.  This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth and an increase in stock-based compensation expense.  As a percentage of net sales, SG&A expenses increased to 27.1% in the nine months ended November 3, 2007 from 26.9% in the nine months ended October 28, 2006.  The increase in SG&A expenses as a percentage of net sales was primarily attributable to an increase in stock based compensation of $2.0 million partially offset by lower growth in store wages and benefits relative to the growth in net sales.

 

This excerpt taken from the ZUMZ 10-Q filed Sep 11, 2007.

Selling, General and Administrative Expenses

Selling, general and administrative, “SG&A,” expenses for the six months ended August 4, 2007 were $43.2 million compared with $30.6 million in the six months ended July 29, 2006, an increase of $12.6 million, or 41.3%.  This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth and an increase in stock-based compensation expense.  As a percentage of net sales, SG&A expenses decreased to 28.6% in the six months ended August 4, 2007 from 29.5% in the six months ended July 29, 2006.  The decrease in SG&A expenses as a percentage of net sales was primarily attributable to improved leverage on store payroll partially offset by an increase in stock based compensation expense.

This excerpt taken from the ZUMZ 10-Q filed Jun 1, 2007.

Selling, General and Administrative Expenses

Selling, general and administrative, or “SG&A,” expenses in the three months ended May 5, 2007 were $19.6 million compared with $13.8 million in the three months ended April 29, 2006, an increase of $5.8 million, or 42.3%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth. As a percentage of net sales, SG&A expenses decreased to 28.5% in the three months ended May 5, 2007 from 28.9% in the three months ended April 29, 2006. The decrease in SG&A expenses as a percentage of net sales was primarily attributable to improved leverage on fixed operating expenses and store payroll, partially offset by an increase in stock based compensation expense. We expect that our SG&A expenses as a percentage of net sales will be lower in fiscal 2007 than in fiscal 2006, although there can be no assurance in this regard.

This excerpt taken from the ZUMZ 10-K filed Mar 27, 2007.

Selling, General and Administrative Expenses

Selling, general and administrative, or “SG&A,” expenses in fiscal 2005 were $52.7 million compared with $38.4 million in fiscal 2004, an increase of $14.3 million, or 37.2%. This increase was primarily the

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result of costs associated with operating new stores, increases in infrastructure and administrative staff to support our growth and the costs of being a public company, including accounting fees, legal fees, printing expenses and other related expenses. As a percentage of net sales, SG&A expenses increased to 25.6% in fiscal 2005 from 25.0% in fiscal 2004. The increase in SG&A expenses as a percentage of net sales was primarily attributable to an increase in store payroll for new stores of $6.0 million and additional depreciation of $1.5 million and, public company costs of $2.0 million, and to a lesser extent, additional infrastructure and administrative staff costs to support our growth. Our year over year costs, without the newly incurred public company costs would have resulted in a decrease in SG&A expenses as a percentage of net sales.

This excerpt taken from the ZUMZ 10-Q filed Dec 8, 2006.

Selling, General and Administrative Expenses

Selling, general and administrative, or “SG&A,” expenses in the nine months ended October 28, 2006 were $49.9 million compared with $34.5 million in the nine months ended October 29, 2005, an increase of $15.4 million, or 44.6%.  As a percentage of net sales, SG&A expenses increased to 26.9% in the nine months ended October 28, 2006 from 26.5% in the nine months ended October 29, 2005.  The increase in SG&A expenses was primarily attributable to the expensing of stock based compensation of $1.1 million, related to the adoption of FAS 123R this year, and an increase in store payroll for new stores of $7.0 million and additional depreciation of $2.0 million.  We also had increased infrastructure expenses and administrative staff expenses to support our new store growth, as well as increased costs associated with being a public company including Sarbanes-Oxley compliance.

This excerpt taken from the ZUMZ 10-Q filed Sep 12, 2006.

Selling, General and Administrative Expenses

Selling, general and administrative, or “SG&A,” expenses in the six months ended  July 29, 2006 were $30.6 million compared with $21.3 million in the  six months ended  July 30, 2005, an increase of $9.3 million, or 43.7%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure

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and administrative staff to support our growth and increased costs associated with being a public company, including Sarbanes-Oxley compliance. As a percentage of net sales, SG&A expenses increased to 29.5% in the six months ended July 29, 2006 from 29.3% in the six months ended  July 30, 2005. The increase in SG&A expenses as a percentage of net sales was primarily attributable to the expensing of stock based compensation of $0.9 million, related to the adoption of FAS 123R this year, and an increase in store payroll for new stores of $4.3 million and additional depreciation of $1.1 million.

This excerpt taken from the ZUMZ 10-Q filed Jun 13, 2006.

Selling, General and Administrative Expenses

Selling, general and administrative, or “SG&A,” expenses in the three months ended April 29, 2006 were $13.8 million compared with $9.8 million in the three months ended April 30, 2005, an increase of $4.0 million, or 40.3%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth and increased costs associated with being a public company. As a percentage of net sales, SG&A expenses decreased to 28.9% in the three months ended April 29, 2006 from 29.5% in the three months ended April 30, 2005. The decrease in SG&A expenses as a percentage of net sales was primarily attributable to improved leverage on fixed operating expenses offset by an increase in store payroll for new stores of $1.9 million and additional depreciation of $0.5 million. We expect that our SG&A expenses as a percentage of net sales will be lower in fiscal 2006 than in fiscal 2005, although there can be no assurance in this regard.

This excerpt taken from the ZUMZ 10-K filed Mar 23, 2006.

Selling, General and Administrative Expenses

 

Selling, general and administrative, or “SG&A,” expenses in fiscal 2004 were $38.4 million compared with $29.1 million in fiscal 2003, an increase of $9.3 million, or 32.1%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth. As a percentage of net sales, SG&A expenses increased to 25.0% in fiscal 2004 from 24.7% in fiscal 2003. The increase in SG&A expenses as a percentage of net sales was primarily attributable to an increase in store payroll for new stores of $3.3 million and additional depreciation of $1.6 million and, to a

 



 

lesser extent, additional infrastructure and administrative staff costs to support our growth, which increased at a faster rate than our net sales.

 

This excerpt taken from the ZUMZ 10-Q filed Dec 13, 2005.

Selling, General and Administrative Expenses

 

Selling, general and administrative, or “SG&A,” expenses in the nine months ended October 29, 2005 were $34.5 million compared with $26.2 million in the nine months ended October 29, 2004, an increase of $8.3 million, or 31.6%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth and increased costs associated with being a public company. As a percentage of net sales, SG&A expenses increased to 26.5% in the nine months ended October 29, 2005 from 26.1% in the nine months ended October 30, 2004. The increase in SG&A expenses as a percentage of net sales was primarily attributable to an increase in store payroll for new stores of $3.9 million and additional depreciation of $1.4 million and, to a lesser extent, additional infrastructure and administrative staff costs to support our growth, and additional costs associated with being a public company.

 

This excerpt taken from the ZUMZ 10-Q filed Sep 13, 2005.

Selling, General and Administrative Expenses

 

Selling, general and administrative, or “SG&A,” expenses in the six months ended July 30, 2005 were $21.3 million compared with $15.6 million in the six months ended July 31, 2004, an increase of $5.7 million, or 36.4%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth and additional expenses resulting from our being a public company. As a percentage of net sales, SG&A expenses increased to 29.3% in the six months ended July 30, 2005 from 28.2% in the six months ended July 31, 2004. The increase in SG&A expenses as a percentage of net sales was primarily attributable to an increase in store payroll for new stores of $2.3 million and additional depreciation of $0.8 million and, to a lesser extent, additional infrastructure and administrative staff costs to support our growth, and additional costs resulting from our being a public company.

 

This excerpt taken from the ZUMZ 10-Q filed Jun 17, 2005.

Selling, General and Administrative Expenses

 

Selling, general and administrative, or “SG&A,” expenses in the three months ended April 30, 2005 were $9.8 million compared with $7.1 million in the three months ended May 1, 2004, an increase of $2.7 million, or 38.0%. This increase was primarily the result of costs associated with operating new stores as well as increases in infrastructure and administrative staff to support our growth. As a percentage of net sales, SG&A expenses increased to 29.4% in the three months ended April 30, 2005 from 28.4% in the three months ended May 1, 2004. The increase in SG&A expenses as a percentage of net sales was primarily attributable to an increase in store payroll for new stores of $1.1 million and additional depreciation of $401,000 and, to a lesser extent, additional infrastructure and administrative staff costs to support our growth.

 

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