What is the retail accounting calendar that Carls operates on?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
We operate on a retail accounting calendar, ending on the last Monday in January. For clarity of presentation, we generally label all years presented as if the fiscal year ended January 31. The fiscal year ended January 29, 2024 is referred to herein as fiscal 2024 or the fiscal year ended January 31, 2024. The fiscal year ended January 30, 2023 is referred to herein as fiscal 2023 or the fiscal year ended January 31, 2023. The first quarter of our fiscal year has four periods, or 16 weeks. All other quarters generally have three periods, or 12 weeks.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to the 2024 FDD, Carls operates on a retail accounting calendar that ends on the last Monday in January. For presentation clarity, Carls generally labels all years as if the fiscal year ended on January 31.
For example, the fiscal year that ended on January 29, 2024, is referred to as fiscal 2024 or the fiscal year ended January 31, 2024. Similarly, the fiscal year ended January 30, 2023, is referred to as fiscal 2023 or the fiscal year ended January 31, 2023.
The first quarter of Carls' fiscal year has four periods, totaling 16 weeks. All subsequent quarters typically consist of three periods, or 12 weeks each. This retail calendar structure is important for franchisees to understand as it impacts financial reporting and performance tracking throughout the year.