Annual General Meeting
June 17, 2009
Sam Baio




President & CEO
Forward-Looking Statements
       Certain statements in this presentation are forward-looking and are
       subject to im...
FY 2009 in Review


       • Volatile Canadian $
       • Cross-border shopping
       • Minimum wage increases
       • T...
FY 2009 in Review



       • Best brands on Earth,
         lowest prices ever
       • Platinum Club sales
         ince...
FY 2009 in Review




6
FY 2009 in Review


       • Shut down Duke’s Northshore
       • Centralized all functions for the
         Off The Wall ...
A Strong Start to FY 2010


       • Continued top line growth
       • Higher gross margin
       • Benefited from focus ...
Rhonda Biddix




CFO &
Corporate Secretary
Financial Review — FY 2009



        • Goodwill & intangible asset
          impairment charge = $12M
        • Impairmen...
Financial Review — FY 2009
        Net Sales
                    FY 2009 = $210.4M
                    FY 2008 = $204.9M

...
Financial Review — FY 2009
        Normalized EBITDA
                 FY 2009 = $3.4M
                 FY 2008 = $8.8M

  ...
Financial Review — Q1 2010
        Net Sales
                    Q1 2010 = + $40.8M
                                      ...
Financial Review — Q1 2010
        Gross Margin
                             Q1 2010 = + $7.4M
                           ...
Financial Review — Q1 2010
        EBITDA (Loss)
                 Q1 2010 = ($2.2M)
                 Q1 2009 = ($4.3M)

  ...
Sam Baio




President & CEO
Our Outlook

        • Recession / recovery???
        • Our efforts are just
          beginning to pay off

        Bett...
We will be THE retail destination

of choice for Canadian
tweens & teens
seeking to fulfill their action
sports lifestyles...
Attractive Target Market



        • Spend $4.9 billion / year
            ½ on clothing, footwear
             & access...
Top Brands for Canadian Youth
         Clothing                                               Shoes

                  1. ...
Unique Promotions




21
OPEN NEW STORES
in new & existing markets
MAXIMIZE RETURNS
from existing stores
Annual General Meeting
    June 17, 2009




Produced by The Equicom Group Inc.
Upcoming SlideShare
Loading in …5
×

West 49 Inc. 2009 AGM

1,688 views

Published on

West 49 Inc. 2009 annual general meeting presentation from June 17, 2009.

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,688
On SlideShare
0
From Embeds
0
Number of Embeds
6
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

West 49 Inc. 2009 AGM

  1. 1. Annual General Meeting June 17, 2009
  2. 2. Sam Baio President & CEO
  3. 3. Forward-Looking Statements Certain statements in this presentation are forward-looking and are subject to important risks, uncertainties and assumptions concerning future conditions that may ultimately prove to be inaccurate and may differ materially from actual future events or results. Forward-looking statements are based on estimates made by management of West 49 Inc. based on current information. These are not formal forecasts or projections of future results and have not been derived from any pro forma financial statements now have been audited or reviewed by any third party. You are reminded not t place undue reliance on these forward-looking statements, which speak only as of the date hereof. West 49 Inc. shall undertake no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstance that occur after the date hereof or to the occurrence of unanticipated events. 3
  4. 4. FY 2009 in Review • Volatile Canadian $ • Cross-border shopping • Minimum wage increases • Troubling economy 4
  5. 5. FY 2009 in Review • Best brands on Earth, lowest prices ever • Platinum Club sales incentive program • Ontario no-tax event 5
  6. 6. FY 2009 in Review 6
  7. 7. FY 2009 in Review • Shut down Duke’s Northshore • Centralized all functions for the Off The Wall banner into our Burlington head office 7
  8. 8. A Strong Start to FY 2010 • Continued top line growth • Higher gross margin • Benefited from focus on expense management • Narrowed loss from a year ago 8
  9. 9. Rhonda Biddix CFO & Corporate Secretary
  10. 10. Financial Review — FY 2009 • Goodwill & intangible asset impairment charge = $12M • Impairment related to Duke’s Northshore = $0.9M 10
  11. 11. Financial Review — FY 2009 Net Sales FY 2009 = $210.4M FY 2008 = $204.9M Comparable Store Sales Consolidated = -0.4% West 49 banner = +0.1% Gross Margin FY 2009 = $46.8M FY 2008 = $52.4M 11
  12. 12. Financial Review — FY 2009 Normalized EBITDA FY 2009 = $3.4M FY 2008 = $8.8M Normalized Net Income (Loss) FY 2009 = ($2.6M) FY 2008 = $1.5M Income (Loss) Per Share, Normalized FY 2009 = ($0.04) FY 2008 = $0.02 12
  13. 13. Financial Review — Q1 2010 Net Sales Q1 2010 = + $40.8M + 4.9% Q1 2009 = + $38.9M Comparable Store Sales Consolidated = +2.9% West 49 banner = +7.7% 13
  14. 14. Financial Review — Q1 2010 Gross Margin Q1 2010 = + $7.4M + $2.6M Q1 2009 = + $4.8M Gross Margin Rate* Q1 2010 = + 18.1% + 580 bps Q1 2009 = + 12.3% • Improved product margins • Improved focus on inventory and merchandising 14 * As a rate to net sales
  15. 15. Financial Review — Q1 2010 EBITDA (Loss) Q1 2010 = ($2.2M) Q1 2009 = ($4.3M) Net Income (Loss) Q1 2010 = ($2.6M) Q1 2009 = ($4.2M) Income (Loss) per Share Q1 2010 = ($0.04) Q1 2009 = ($0.07) 15
  16. 16. Sam Baio President & CEO
  17. 17. Our Outlook • Recession / recovery??? • Our efforts are just beginning to pay off Better positioned for BACK-TO-SCHOOL and HOLIDAY selling seasons 17
  18. 18. We will be THE retail destination of choice for Canadian tweens & teens seeking to fulfill their action sports lifestyles needs.
  19. 19. Attractive Target Market • Spend $4.9 billion / year  ½ on clothing, footwear & accessories • Account for 76% of action sports participants 19
  20. 20. Top Brands for Canadian Youth Clothing Shoes 1. American Eagle 1. Nike 2. Hollister 2. DC 3. West 49 3. Converse 4. DC 4. Adidas 5. Stitches 5. Vans 6. Bluenotes 6. Puma 7. Aeropostale 7. Airwalk 8. Garage 8. C1Rca 9. Billabong 9. Etnies 10. Nike 10. Ugg 20 Source: Global Habbo Youth Survey – Brand Update 2009
  21. 21. Unique Promotions 21
  22. 22. OPEN NEW STORES in new & existing markets MAXIMIZE RETURNS from existing stores
  23. 23. Annual General Meeting June 17, 2009 Produced by The Equicom Group Inc.

×