XML 50 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segments
 9 Months Ended
Nov. 01, 2014
Segment Reporting [Abstract]  
Business Segments
Business Segments
The Company has three reportable operating segments: retail trade; electronic commerce trade; and real estate development and management. These reportable operating segments reflect the manner in which the business is managed and how the Company allocates resources and assesses performance internally. The chief operating decision makers of the Company are the Company’s Executive Chairman and Chief Executive Officer and President.
The Company’s three reportable segments are three distinct business units: a traditional retailer of book and related merchandise, a seller of book and related merchandise primarily over the Internet, and a real estate business that owns, develops and leases commercial retail real estate. The retail trade segment makes up the majority of the Company’s sales and includes the bookstore locations and its distribution center operations, as well as Yogurt Mountain owned stores and franchises. These businesses all share similar economic characteristics and, therefore, have been aggregated into the retail trade segment. Through the distribution center operations, the Company also sells books and general merchandise to outside parties on a wholesale basis. These wholesale sales are not material. The electronic commerce trade segment is managed separately from the retail trade segment due to divergent technology and marketing requirements. Both the retail trade segment and the electronic commerce trade segment derive revenues primarily from the sale of books, magazines and general merchandise, including gifts, cards, games, toys, collectibles, music, DVDs, electronic devices and accessories. The real estate development and management segment is managed separately from the retail trade and electronic commerce trade segments, with a focus on deriving revenues through developing and leasing commercial retail real estate for the purpose of earning rental income. Currently, the Company owns and operates four shopping centers located in Florence, Alabama, Gardendale, Alabama, Fayetteville, North Carolina and Jacksonville, Florida, comprised of an aggregate total of 316,000 square feet. The Jacksonville, Florida property was purchased in July 2014 for $5.3 million.
 
 
 
Thirteen Weeks Ended
 
Thirty-nine Weeks Ended
 
 
November 1, 2014
 
November 2, 2013
 
November 1, 2014
 
November 2, 2013
Segment Information (in thousands)
 
 
 
 
 
 
 
 
Total Revenues
 
 
 
 
 
 
 
 
Retail Trade
 
$
99,358

 
$
97,744

 
$
307,418

 
$
305,276

Electronic Commerce Trade
 
5,437

 
5,682

 
14,759

 
16,926

Real Estate Development and Management
 
812

 
593

 
2,128

 
1,367

Intersegment Sales Elimination
 
(4,421
)
 
(4,025
)
 
(11,001
)
 
(11,149
)
                 Total Revenues
 
$
101,186

 
$
99,994

 
$
313,304

 
$
312,420

Operating Gain (Loss) from Continuing Operations
 
 
 
 
 
 
 
 
Retail Trade
 
$
(6,783
)
 
$
(6,969
)
 
$
(15,151
)
 
$
(14,629
)
Electronic Commerce Trade
 
(126
)
 
(250
)
 
101

 
(100
)
Real Estate Development and Management
 
241

 
227

 
843

 
435

Intersegment Elimination of Certain Costs
 
(395
)
 
(219
)
 
(833
)
 
(670
)
Total Operating Loss from Continuing Operations
 
$
(7,063
)
 
$
(7,211
)
 
$
(15,040
)
 
$
(14,964
)
 
 
 
November 1, 2014
 
February 1, 2014
Assets
 
 
 
 
Retail Trade
 
$
284,975

 
$
271,406

Electronic Commerce Trade
 
858

 
1,501

Real Estate Development and Management
 
41,126

 
29,825

Total Assets
 
$
326,959

 
$
302,732


A reconciliation of operating loss from reportable segments to loss from continuing operations before income taxes in the condensed consolidated financial statements is as follows:
 
 
Thirteen Weeks Ended
 
Thirty-nine Weeks Ended
 
 
November 1, 2014
 
November 2, 2013
 
November 1, 2014
 
November 2, 2013
Reportable segments operating loss
 
$
(7,063
)
 
$
(7,211
)
 
$
(15,040
)
 
$
(14,964
)
Interest expense, net
 
478

 
620

 
1,603

 
1,512

Consolidated loss from continuing operations before income taxes
 
$
(7,541
)
 
$
(7,831
)
 
$
(16,643
)
 
$
(16,476
)

For the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013, respectively, sales by merchandise category related to our retail trade and electronic commerce trade segments, as a percentage of total net sales, were as follows:
 
 
 
Thirteen Weeks Ended
 
Thirty-nine Weeks Ended
 
 
November 1, 2014
 
November 2, 2013
 
November 1, 2014
 
November 2, 2013
Books and magazines
 
70.6
%
 
71.4
%
 
71.0
%
 
73.5
%
General merchandise
 
12.9
%
 
11.7
%
 
12.7
%
 
11.9
%
Café and yogurt
 
5.7
%
 
6.3
%
 
5.7
%
 
5.3
%
Electronics, eBooks and accessories
 
1.1
%
 
1.7
%
 
1.2
%
 
2.0
%
Media
 
4.5
%
 
3.5
%
 
4.2
%
 
3.2
%
Other
 
5.2
%
 
5.4
%
 
5.2
%
 
4.1
%
Total
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%

General merchandise consists of gifts, cards, games, toys, collectibles and similar types of products. Café and yogurt consists of coffee, tea, yogurt and other edible products, as well as gift items related to our Joe Muggs cafés. Media includes music, videos and software.