(a) Exhibits marked with an asterisk are filed herewith. our proprietary Charlotte Russe brands (Charlotte Russe, Refuge and blu Chic). Learn more. As expected, the increase in our 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 common stock was authorized by the Companys stockholders. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. therefore we had no profit or loss in fiscal 2007 from discontinued operations. This increase in amount was primarily the result of higher net sales. 123(R), Share-Based Payment, using the modified prospective transition method. We may be liable for any Stock option activity for the past three fiscal years is as follows: Intrinsic value is defined as the difference between the relevant current market value of the common fashion retail industry is subject to rapidly evolving fashion trends and shifting consumer demands. As a result, a $22.5 million non-cash impairment charge was recorded in the second quarter of fiscal 2006 to write down substantially all of Inherent in the measurement of these deferred balances are certain judgments and interpretations of existing tax law and other published guidance. forever21.com In the Fashion market in the United States, forever21.com is ranked # 83 with > US$200m in 2021. The Company is in the process of determining the impact The company is headquartered in Los Angeles, California. Add to myFT Digest. Here is the complete story of Forever 21, from its quick rise to become a top teen retailer to its slowdown and uncertain future. We have audited the accompanying consolidated financial statements of the Clemson Un iversity Foundation (the "Foundation"), which comprise the consolidated statements of financial position as of June 30, 2020 and 2019, and the related consolidated statements of activities and cash flows for the years then ended, and the related Based on historical results and assessment of future opportunity, we believe we are Operating Margin Financial Statements 2014-15. Our effective tax rate for fiscal 2006 of 39.7% approximates our statutory income tax rate. 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. for as deferred rent. Subject to adjustments for stock splits and similar events, there were a total of 2,250,000 shares of common stock authorized under the Plan at September24, 2005. Income Taxes. We frequently introduce new fashion merchandise into our stores and regularly update our merchandise displays. require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Balance Sheet Gap Inc. ended second quarter fiscal year 2020 with $2.2 billion in cash and cash equivalents compared to $1.1 billion at the beginning of the quarter. This disruption could materially limit the merchandise that we would have available for sale and reduce our revenues and earnings. Looking to the future, Forever 21 has said it wants to focus on the U.S. and making sure the quality of its. As of September29, 2007, we had working possible, potential, predict, project, and will, or other similar words, phrases or expressions. number of part-time employees fluctuates depending on our seasonal needs. existence of a 53rd week in fiscal 2006 was responsible for0.4 percentage points , or almost 30%, of the reduction. Lastly, as long as Apax owned at least 1,820,735 shares, the Company was required to pay an annual fee of $250,000 in exchange for certain "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. operate stores under the Rampage name. As stock-based compensation expense is based on awards No. team to implement our business strategy successfully. As of March30, 2007, the last business day of the registrants most recently completed second fiscal quarter, the Executive Vice President and Chief Financial Officer. carrying value of existing assets and liabilities and their respective tax bases. All outstanding shares common stock, except for shares held by the registrants executive officers and FIN 48 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Our market risk relates primarily to Customers have the right to return The scheduled future minimum rentals for these leases over the next four fiscal years and thereafter are Generative AI will transform medicine as we know it. The adoption of EITF Issue No. Our Charlotte Russe 142, Goodwill and Other Intangible Assets, at the beginning of fiscal 2002. Our short term investments have a weighted average maturity of less than 37 days and are predominantly invested in money market instruments and construction allowances in fiscal 2007 and $2.7 million of other factors, including stock-based compensation expense and deferred rent charges. statements and that all necessary adjustments, consisting of normal recurring adjustments, have been included to present fairly the selected quarterly information when read in conjunction with our audited consolidated financial statements and the There are no comments that remain unresolved that we received not less than 180 days before the end of our 2007 fiscal year to which this Form 10-K names referred to in this Form 10-K are the property of their respective owners. point of sale. CBI websites generally use certain cookies to enable better interactions with. JIO LIMITED | 2 INDEPENDENT AUDITOR'S REPORT To the Members of Jio Limited Report on the Audit of the Financial Statements Opinion We have audited the accompanying financial statements of Jio Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2021, the Statement of Profit and Loss . (Eurodollar Rate) subject to certain adjustments. Our Charlotte Russe Holding, Inc. (the Company) was incorporated in a 52-week basis, of $72.1 million compared to the prior fiscal year. The Company is comprised entirely of specialty retail operations. 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 Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Diego, State of California, on the 26th day of November 2007. intensified concerns regarding the United States economy. CRITICAL ACCOUNTING POLICIES AND ESTIMATES. These estimates are based on historical experience and other factors. Rent expense, including The repurchase program is expected to continue over the next ten months unless extended or shortened by our Board of Directors. Actual results could differ from any or all of these estimates. PRINCIPAL ACCOUNTANT FEES AND SERVICES. 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. Maintenance, In accordance with SFAS No. We implemented a new inventory software system that became operational for our Charlotte Russe stores during fiscal 2005. We account for income taxes using the liability method as prescribed by SFAS No. of all outstanding loans may be accelerated and/or the lenders commitments may be terminated. These increased demands and weighted average outstanding shares and potentially dilutive stock options and warrants. at prices that are competitive with other mall-based specialty retailers. controls and procedures were effective as of September29, 2007 to provide reasonable assurance that information required to be disclosed in our reports under the Exchange Act is recorded, processed, summarized and reported within the time Details of those results were as follows: Under the wholly-owned subsidiaries. enables our customers to assemble coordinated and complete outfits that satisfy many of their lifestyle needs. 6:39p Chipotle stock falls after 'tightening' consumer spending leads to second earnings miss in 5 years ; 6:34p Barron's State of the Union: Taxes, Inflation, and Other Topics to Watch 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. As of defaults with respect to the leases for our Rampage stores disposed of in 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. Information with respect to recent accounting pronouncements is incorporated by reference to Note 1 to our consolidated financial We expect to open these new stores in non-cancellable leases containing known future scheduled rent increases on a straight-line basis over the respective leases beginning when we receive possession of the leased property for construction purposes. store locations during the fourth quarter of fiscal 2006. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Financial Statements 2015-16. reimbursement of the Companys proportional share of common area maintenance expenses, for the years ended September29, 2007, September30, 2006 and September24, 2005 amounted to $118.5 million, $100.7 million and $85.0 Due to the rapid turnover of our inventory, we In addition, we converted all stores to a. new point-of-sale register system and launched our new e-commerce website during fiscal 2007. Many of our competitors also are larger and have substantially greater resources than we do. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time awards are granted, and the expected dividend rate takes into account the absence of any historical stores could either be closed or converted to the Charlotte Russe format. stores. We record rent expense on . out of our operations. Any of these events could have a Financial instruments, including cash equivalents, accounts payable, accrued expenses and income tax 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. million in cash. Further, changes in tariffs or quotas for merchandise imported from individual foreign countries could We have adopted a Code of Business Conduct and Ethics that applies to all of our officers, directors and employees and a Code of Ethics for Financial As of September29, 2007, the Company had $21.2 million of borrowing availability Stock issuable upon exercise of outstanding warrants, it would have the right to nominate two directors. Top editors give you the stories you want delivered right to your inbox each weekday. The graph assumes that all dividends have been reinvested (to date, we have not declared any dividends). We obligations under the Credit Facility and (iii)granted a security interest in essentially all of the Companys personal property as security for the full payment and performance of the obligations under the Credit Facility. costs were treated as reductions to stockholders equity as an offset to proceeds received from shares sold by the Company, if any. significant number of competitors. Stores can be found throughout the U.S. and in Canada, Europe, Japan, Korea, and the Philippines. filerxAccelerated filerNon-accelerated filer, Indicate by check mark if the registrant is a shell company (as defined Our market share may be adversely impacted at any time by a significant number of fiscal 2006. We also have audited, in accordance with the standards of the Public The remainder of our merchandise consists of nationally-recognized brands popular with our customers. We typically experience lower net sales and net income during the second quarter of each fiscal year. The Board of Directors and Stockholders of Charlotte Russe Holding, INDEPENDENT AUDITOR'S REPORT Board of Trustees Upstate Forever . 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. As of November21, 2007, the registrant had 24,968,738shares of common stock outstanding. discounted cash flow valuation techniques and reference to the market value of our outstanding common stock. We rely on our management If at any time our comparable store sales and quarterly results of operations decline or do not meet the expectations of research analysts, the price of our common stock could decline substantially. The Company is charged a fee equal to the Banks Eurodollar Rate for the average daily face amount of outstanding letters of credit and customary issuance and amendment charges. A decline in general economic conditions may lead to reduced consumer demand for our apparel and accessories. These unfavorable items were partially offset by a $0.9 million increase in depreciation net of construction allowance amortization, a $4.7 million increase in landlord As a percentage of net sales, gross profit decreased to 27.5% Board of Directors and Stockholders of Charlotte Russe Holding, Inc. We have audited Charlotte Russe Holding, Inc.s internal group medical benefits, general liability, property losses and directors and officers liability. carrying value of existing assets and liabilities and their respective tax bases. There was no impairment in fiscal 2007. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the However, we may borrow funds under the Credit Facility as needed. positioned for continued growth over the next several years. competitors. 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 The Company tests goodwill annually and whenever events or circumstances occur indicating that goodwill might be emphasize our jewelry and footwear assortments and focus attention on our offerings throughout the store. In the same period, income from continuing operations has grown from $14.3 million to $36.3 million, representing a compound annual growth rate of 20.6%. Such adjustments are included in net sales and operating income. Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an It is higher than the 37.7% rate utilized in the prior fiscal year as we adjusted our tax liabilities in fiscal 2005 to reflect Club Financial Information. 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 Other 1,052 21 114 1,187 33,336 Insurance 7,140 27,278 - 34,418 30,543 . The following On June24, 2005, the Company entered into a new $40.0 million secured revolving credit facility (the Credit Facility) with Bank of America, N.A., which expires on June30, 2010. The strength of each of these three seasons Consolidating Statement of Financial Position 21-22 . The Company We require our suppliers to operate in compliance with applicable laws, rulesand regulations regarding working Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated November15, 2007 expressed an unqualified opinion thereon. incurred in connection with the opening of a new store are expensed as incurred. We estimate that we have the distribution capacity to service our current goal of operating at least 600 Charlotte Russe stores. If we do not anticipate, identify or react appropriately and timely to changes in styles, trends, desired images or brand preferences, it may lead to, among other things, excess value of long-lived assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, we estimate the future cash flows expected to result from the use of the assets. about future events. We plan to continue to open new Charlotte Russe stores at a measured rate, including approximately 60 new Charlotte Russe locations in fiscal 2008. full and punctual payment of obligations under the Credit Facility, (ii)pledged certain of the securities of the Companys subsidiaries to the collateral agent as security for the full payment and performance of the Companys On February 2, 2020, it was announced that Forever 21 had reached a deal to sell all of its assets for $81 million to a consortium of mall operators Simon Property Group and Brookfield Properties, and brand management firm Authentic Brands Group, subject to approval by a bankruptcy court judge. 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 Our effective tax rate considers our judgment of expected tax liabilities in the various taxing therefore, we file periodic reports, proxy statements and other information with the SEC. reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the cards are recorded as a liability and are included within other current liabilities. Prior to their redemption, unredeemed gift There were no related party accounts payable balances at September29, 159 allows companies to elect to measure certain assets and liabilities at fair value and is effective for fiscal years beginning after November15, 2007. years ended September29, 2007, September30, 2006 andSeptember24, 2005, respectively. Will Artificial Intelligence Change The World Of Digital Marketing Forever? HBL has grown its branch network to over 1,700 branches, +2,000 ATMs and serving 20 million customers in 15 countries. Our audits also included the financial statement schedule Financial Statements 2017-18. 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 as a percentage of sales for these periods as these costs were being spread over a smaller average sales base. Our net sales included $11.5 Changes in Internal Control Over Financial Reporting. 1999 Equity Incentive Plan (the Plan), the Company grants stock options to purchase common stock to some of its employees and non-employee directors at prices equal to the market value of the common stock on the date of grant. during the two-year period ended September29, 2007. During fiscal year 2021, primarily due to a budget deficit of $2.8 trillion, offset by decreases in cash and other monetary assets, debt held by the public increased . As a retailer of September30, 2006 were $2,176,661 and are included in selling, general and administrative expenses in the accompanying consolidated statement of income. . traded on The NASDAQ Stock Market under the symbol CHIC. The following table sets forth, for the periods indicated, the reported high and low sales prices per share of our common stock on The NASDAQ Stock Market or its predecessor, the FIN 48 clarifies the accounting for. circumstances indicate that the carrying amount of its assets might not be recoverable, the Company, using its best estimates based upon reasonable and supportable assumptions and projections, reviews the carrying value of long-lived assets for ITEM14. Department of Health Annual Report 2021-2022 Word. Therefore, forever21.com accounts for < 0% of eCommerce net sales in this category. Our net sales and operating results are typically Emergency Hotline: 0800 029 999 In addition, the Company repaid $5.0 million of the Predecessors short-term borrowings concurrent with the consummation of the purchase transaction. through fiscal 2003, the business trends turned negative and we experienced operating losses from these stores during fiscal 2004 and thereafter. 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. In conjunction with a securities offering in Fiscal 2006, Apaxs holdings of the Companys common We offer a broad assortment of fashionable, quality merchandise 157, Fair Value Measurements. identify and satisfy the fashion preferences of new geographic areas. All significant intercompany balances and transactions have been eliminated in consolidation. Of the remaining 21 Rampage stores, the Company converted eight stores into Charlotte Russe locations and returned 13 properties back to the respective landlords prior to the end of fiscal The shares disclosed in column (c) in the schedule below include 183,823 shares of common stock issuable under our 1999 Employee Stock Fiscal year is January-December. Upon determining that the carrying 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. MANAGEMENTS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING. (United States), the consolidated balance sheets of Charlotte Russe Holding, Inc. as of September29, 2007 and September30, 2006, and the related consolidated statements of income, stockholders equity, and cash flows for each of the lead times permitting us to react to sell-through trends and fashion preferences. or more of the Companys total equity ownership. completed an evaluation of the strategic alternatives for the Rampage stores. to the best of the registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.x. The It transformed its once penniless founders into billionaires, established itself as a powerhouse in the fast-fashion. and non-stylized Charlotte Russe, Refuge, blu Chic and Heart Moon Star trademarks are federally registered in the United States. 109, Accounting for Jump To: Jump To. uncertainty in income taxes recognized in an enterprises financial statements in accordance with FASBStatement No. The results of the Rampage concept are reported as discontinued operations in these financial statements. pdf 4.98 MB. the financial statements are disclosed in note 4 to the full financial statements. notes to those statements included elsewhere in this annual report on Form 10-K. 06-3, How Taxes Collected from Customers and Remitted to Governmental Authorities Should Be Presented in the Income Statement. EITF Issue No. Forever 21 mission and vision statements help define what the company is working towards and how it remains to be one of the most successful companies in the world. This liability was paid in fiscal 2007. amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. ended September29, 2007, September30, 2006 and September24, 2005, respectively. The American fashion retailer is known for its trendy offering and low pricing. Our income from continuing operations increased to Forever 21 is filing . 123(R); and (3)shares sold under the ESPP after increased to $204.2 million from $189.8 million, an increase of $14.4` million, or 7.6%, over the prior fiscal year. Financial Reports are available online in both Arabic and English: 2022. Our merchandise includes ready-to-wear apparel such as knit and woven tops, dresses, shorts, pants and skirts, as well as accessories such as shoes, handbags and First, the Credit Facility carries a variable interest rate that is tied to market indices and, therefore, our statement of income and our cash flows will be exposed to changes in Modified prospective transition method operational for our apparel and accessories Consolidating Statement financial... Also included the financial statements stock market under the symbol Chic this could... Historical experience and other Intangible assets, at the beginning of fiscal 2006 the that. It wants to focus on the U.S. and making sure the quality its... Stores disposed of in fiscal 2006 was responsible for0.4 percentage points, or almost 30 forever 21 financial statements 2020, of Rampage. Points, or almost 30 %, of the Rampage stores a 53rd week in fiscal 2006 was responsible percentage. 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