| Segments |
NOTE 13—SEGMENTS
The tables below (in thousands) reflect the operating results of the Company’s segments for the reported periods, consistent with the management and measurement system utilized within the Company. The two segments include (1) the Company’s retail stores, and (2) its Cooltech Distribution business. Performance measurement of each segment is based on sales, gross profit and operating loss. The segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Operating Decision Maker (“CODM”) in determining how to allocate Company resources and evaluate performance. The CODM is a committee comprised of the Company’s Chief Executive Officer and Chief Financial Officer.
|
|
Retail Stores |
|
|
Cooltech
Distribution |
|
|
Total
Segments |
|
|
Fiscal Year ended January 30, 2021: |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
$ |
67,885 |
|
|
$ |
139 |
|
|
$ |
68,024 |
|
|
Gross profit |
$ |
18,330 |
|
|
$ |
22 |
|
|
$ |
18,352 |
|
|
Operating loss |
$ |
(3,276 |
) |
|
$ |
(241 |
) |
|
$ |
(3,517 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2019: |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
$ |
28,312 |
|
|
$ |
2,073 |
|
|
$ |
30,385 |
|
|
Gross profit |
$ |
6,949 |
|
|
$ |
95 |
|
|
$ |
7,044 |
|
|
Operating loss |
$ |
(2,969 |
) |
|
$ |
(1,138 |
) |
|
$ |
(4,107 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transition period January 1, 2020 to February 1, 2020: |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
$ |
5,281 |
|
|
$ |
4 |
|
|
$ |
5,285 |
|
|
Gross profit |
$ |
1,498 |
|
|
$ |
10 |
|
|
$ |
1,508 |
|
|
Operating loss |
$ |
(615 |
) |
|
$ |
(101 |
) |
|
$ |
(716 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Operating Loss to Simply, Inc. as Reported: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 30, 2021 |
|
|
Fiscal Year Ended December 31, 2019 |
|
|
Transition Period January 1 to February 1, 2020 |
|
|
Operating loss: |
|
|
|
|
|
|
|
|
|
|
|
|
Total reportable segments |
$ |
(3,517 |
) |
|
$ |
(4,107 |
) |
|
$ |
(716 |
) |
|
Unallocated corporate expenses |
|
(5,328 |
) |
|
|
(9,142 |
) |
|
|
(134 |
) |
|
Total consolidated operating loss |
$ |
(8,845 |
) |
|
$ |
(13,249 |
) |
|
$ |
(850 |
) |
Additional segment information for the fiscal years ended January 30, 2021 and December 31, 2019, and the transition period from January 1, 2020 to February 1, 2020 is as follows (in thousands):
|
|
Retail Stores |
|
|
Cooltech
Distribution |
|
|
Total
Segments |
|
|
Corporate |
|
|
Consolidated |
|
|
As of and for the fiscal year ended January 30, 2021: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
$ |
518 |
|
|
$ |
1 |
|
|
$ |
519 |
|
|
$ |
156 |
|
|
$ |
675 |
|
|
Capital expenditures |
|
1,032 |
|
|
|
3 |
|
|
|
1,035 |
|
|
|
— |
|
|
|
1,035 |
|
|
Property and equipment, net |
|
1,301 |
|
|
|
— |
|
|
|
1,301 |
|
|
|
— |
|
|
|
1,301 |
|
|
Total assets |
|
20,506 |
|
|
|
1 |
|
|
|
20,507 |
|
|
|
4,216 |
|
|
|
24,723 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the year ended December 31, 2019: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
$ |
270 |
|
|
$ |
5 |
|
|
$ |
275 |
|
|
$ |
116 |
|
|
$ |
391 |
|
|
Capital expenditures |
|
59 |
|
|
|
— |
|
|
|
59 |
|
|
|
2 |
|
|
|
61 |
|
|
Property and equipment, net |
|
824 |
|
|
|
3 |
|
|
|
827 |
|
|
|
31 |
|
|
|
858 |
|
|
Total assets |
|
21,276 |
|
|
|
208 |
|
|
|
21,484 |
|
|
|
6,365 |
|
|
|
27,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the transition period January 1, 2020 to February 1, 2020: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
$ |
47 |
|
|
$ |
1 |
|
|
$ |
48 |
|
|
$ |
14 |
|
|
$ |
62 |
|
|
Capital expenditures |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Property and equipment, net |
|
777 |
|
|
|
2 |
|
|
|
779 |
|
|
|
29 |
|
|
|
808 |
|
|
Total assets |
|
21,253 |
|
|
|
211 |
|
|
|
21,464 |
|
|
|
5,944 |
|
|
|
27,408 |
|
|