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Teavana Holdings – TEA – Solid quarter reflecting a continuation of the business momentum

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Teavana Holdings, Inc. (NYSE: TEA) today announced financial results for the fourth quarter and fiscal year ended January 29, 2012.

Highlights for the fourth quarter:

  • TEA Net sales increased by 34% to $68.4 million from $51.2 million in the fourth quarter of fiscal 2010.
  • TEA opened four new stores compared to five new stores opened in the fourth quarter of fiscal 2010. The Company ended the quarter with 200 company-owned stores.
  • Comparable store sales, including e-commerce, increased by 8.6%. Comparable store sales, excluding e-commerce, increased by 4.4%.
  • TEA Income from operations increased by 28% to $21.2 million from $16.6 million in the fourth quarter of fiscal 2010.
  • TEA Net income increased by 36% to $12.5 million, or $0.32 per diluted share, from $9.2 million, or $0.24 per diluted share in the fourth quarter of fiscal 2010.

Andrew Mack, Chairman and CEO, stated: “We closed fiscal 2011 with another solid quarter reflecting a continuation of the business momentum we had seen throughout the year. The strength of our product offering, our unique store experience and strong execution by our very talented team helped us deliver an 8.6% comparable store sales increase, including e-commerce, and grow our net income by almost 36% in the fourth quarter, all while making the necessary organizational investments that strengthen our infrastructure and support our growth. In 2012, our focus will be on continued execution of our U.S. store opening plan, driving comparable store sales, selectively pursuing international expansion and continuing to deliver strong earnings growth.”


Highlights for the fiscal year:

  • Net sales increased by 35% to $168.1 million from $124.7 million in fiscal 2010.
  • The Company opened 54 new stores compared to 38 new stores opened in fiscal 2010.
  • Comparable store sales, including e-commerce, increased by 8.6%. Comparable store sales, excluding e-commerce, increased by 5.5%.
  • Income from operations increased by 34% to $31.6 million from $23.5 million in fiscal 2010.
  • Net income increased by 48% to $17.8 million, or $0.46 per diluted share, from $12.0 million, or $0.32 per diluted share in fiscal 2010.

About Teavana:

Teavanais a specialty retailer offering more than 100 varieties of premium loose-leaf teas, authentic artisanal teawares and other tea-related merchandise through 200 company-owned stores and on its website. The company offers new tea enthusiasts and tea connoisseurs alike its “Heaven of Tea” retail experience where passionate and knowledgeable “teaologists” engage and educate them about the ritual and enjoyment of tea. The company’s mission is to establishTeavanaas the most recognized and respected brand in the tea industry by expanding the culture of tea across the world.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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