Rocky Mountain Chocolate Factory Inc. reported its operating results for the fourth quarter and fiscal year ended Feb. 28.
Rocky Mountain Chocolate Factory operates and franchises gourmet chocolate and self-serve frozen yogurt stores, manufactures premium chocolates and other confectionery products, and provides co-branding options with Cold Stone Creamery.
For the 12 months ended Feb. 28 (FY11), total revenue increased 9.5 percent to approximately $31.1 million, compared with approximately $28.4 million in the fiscal year ended Feb. 28 (FY10). Same-store sales increased 0.6 percent during FY '11, when compared with the previous fiscal year.
Retail sales increased 31.5 percent to approximately $3.7 million in FY '11, versus approximately $2.8 million in FY10. The increase is primarily the result of a rise in the average number of company-owned stores in operation from eight during FY '10 to 12 in FY '11.
Total sales at all franchised and company-owned stores increased 3.6 percent to approximately $115.0 million in FY '11, versus approximately $111.0 million in system-wide sales during FY '10.
The company invested $1.2 million in its new Aspen Leaf Yogurt retail concept during 2011 fiscal year. Revenue generated by the first ALY store, which opened late in the fourth quarter, totaled approximately $35,000. The ALY concept generated an operating loss of $314,000 and $203,000 in the fiscal year and fourth quarter ended Feb. 28, respectively.
At the end of FY '11, the number of stores operating under the brand included 316 Rocky Mountain Chocolate Factory locations, 40 co-branded stores operated under license to Cold Stone Creamery franchisees and one Aspen Leaf Yogurt store. Since the end of the fiscal year, another four ALY stores have opened.
