This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Crumbs Bake Shop, Inc. Reports Fourth Quarter 2011 Financial Results

Stocks in this article: CRMB

Crumbs Bake Shop, Inc. (“Crumbs”) (NASDAQ: CRMB), a national neighborhood bakery and the largest U.S.-based cupcake specialty store chain, today reported financial results for the fourth quarter ended December 31, 2011.

Fourth Quarter Highlights as Compared to the Previous Year:

  • Net sales increased 28.8% to $11.0 million; gross profit increased 28.3% to $6.2 million.
  • Store operating weeks increased 59.4% to 574 from 360.
  • Net loss attributable to stockholders was $(2.5) million or $(0.45) per diluted share.
  • Net loss attributable to the controlling and non-controlling interests was $(4.3) million, which included $2.3 million in cash and non-cash expenses related to the CEO transition and $0.8 million in non-cash loss on impairment of leasehold improvements. This compares to a net loss attributable to stockholders in 2010 of $(134,000) or $(0.03) per diluted share.
  • Adjusted EBITDA 1, a non GAAP measure, of $(0.5) million compared to $0.3 million.
  • 9 new stores opened in New York, Chicago and Washington, D.C.

1. See financial tables for a reconciliation of adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), a non-GAAP measure, to GAAP results.

Julian R. Geiger, President and Chief Executive Officer of Crumbs said, “Our results for the fourth quarter were certainly unsatisfactory, and highlight the need for substantive changes that will help us stabilize the business in 2012. We have already identified the most important areas to address, and have begun to implement new policies and approaches to improve our structure, our operating model and our merchandising. We believe that these initiatives will position Crumbs for better financial performance in the second half of the year when compared to both the second half of 2011 and the first half of 2012. We also believe that these changes, and others that we envision in the coming months, will lead to more significant growth in 2013.”

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs