Teavana
SEC F-1 filing
- The company is profitable. Sales grew 31% from $108 million in FY2014 to $142 million for the period ending January 31, 2015. Approximately 68% of revenue was from the sale of loose-leaf tea with 22% from accessories. In-store food and beverage sales account for 10%. Comparable sales at stores operating at least a year varies widely from a high of 31% in the fourth quarter of FY2012 to 8% in the fourth quarter of FY2014. Margins on earnings before taxes (EBITDA) have risen from 10.6% in FY2012 to 15.4% in FY2014. Gross profit was $78 million in FY2015 which is up from $41 million in FY2013. The company lost $4.4 million in FY2013, showed a $400,000 loss in FY2014 and $11.4 million in net income for the period ending Jan. 31, 2015. Earnings were $1.52 per share in FY2014.
- The company is growing. Store count as of March was 158 with 134 in Canada and 24 in the U.S. The company previously announced plans to add 25 to 30 stores in Canada and 10 to 15 in the U.S. during fiscal 2015. Store count was 70 in 2011, rose to 105 in FY2012 and grew by 19 in FY2013. The firm cited a potential of 100 additional Canadian stores and 300 news stores in the U.S. The U.S. stores will comprise 25% to 35% of total store count within five years. U.S. sales account for 8% of total sales. The company plans capital expenditures of up to $19 million in FY2015 with 85% to 95% used to construct new stores. Rival Teavana is currently operating 392 stores mainly in the U.S. and Canada with 16 in Mexico and 7 overseas.
- The IPO target is $75 million. The money raised will primarily be used to build new stores, which have a return on investment of two years. No price per share has been set nor has DAVIDsTEA announced the total number of available shares. The ticker DTEA is pending on the Nasdaq Global Market.