-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DyjoNquSIgK77R+zFCAXEinN2GYnkeIOSjIMTw21tDo0HLBu0fVXylZWzihDijub gt2Ksx9SamW+QGHu1fIzug== 0001047469-97-004867.txt : 19971117 0001047469-97-004867.hdr.sgml : 19971117 ACCESSION NUMBER: 0001047469-97-004867 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970930 FILED AS OF DATE: 19971114 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: BIG DOG HOLDINGS INC CENTRAL INDEX KEY: 0001019439 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-22963 FILM NUMBER: 97720036 BUSINESS ADDRESS: STREET 1: 121 GRAY AVENUE STREET 2: SUITE 300 CITY: SANTA BARBARA STATE: CA ZIP: 93101 BUSINESS PHONE: 8059638727 MAIL ADDRESS: STREET 1: 121 GRAY AVENUE STREET 2: SUITE 300 CITY: SANTA BARBARA STATE: CA ZIP: 93101 10-Q 1 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q /X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period Ended September 30, 1997 or / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-22963 BIG DOG HOLDINGS, INC. (Exact name of registrant as specified in its charter) DELAWARE 77-0395316 (State or jurisdiction of (IRS employer incorporation or organization) identification no.) 121 GRAY AVENUE SANTA BARBARA, CALIFORNIA 93101 (Address of principal executive offices) (zip code) (805) 963-8727 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No --- --- The number of shares outstanding of the registrant's common stock, par value $.01 per share, at November 10, 1997 was 13,135,550 shares. 1 BIG DOG HOLDINGS, INC INDEX TO FORM 10-Q
PAGE NO. -------- PART 1 FINANCIAL INFORMATION ITEM 1: FINANCIAL STATEMENTS (Unaudited) Consolidated Balance Sheets - September 30, 1997 and December 31, 1996 .......................... 3 Consolidated Statements of Operations - Three months and nine months ended September 30, 1997 and 1996..... 4 Consolidated Statements of Cash Flow - Nine months ended September 30, 1997 and 1996 ..................... 5 Notes to Consolidated Financial Statements ........................ 6 ITEM 2: Management's Discussion and Analysis of Financial Condition and Results of Operations .......................... 8 ITEM 3: Quantitive and Qualitative Disclosures about Market Risk ..................................................12 PART II OTHER INFORMATION ITEM 1: Legal Proceedings .................................................12 ITEM 2: Changes in Securities .............................................12 ITEM 3: Defaults upon Senior Securities ...................................12 ITEM 4: Submission of Matters to a Vote of Security Holders ...............12 ITEM 5: Other Information .................................................12 ITEM 6: Exhibits and Reports on Form 8-K ..................................12 SIGNATURE PAGE ..............................................................13
2 PART 1 FINANCIAL INFORMATION ITEM 1: FINANCIAL STATEMENTS BIG DOG HOLDINGS, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS
September 30, December 31, 1997 1996 ------------- ------------ (Unaudited) ASSETS CURRENT ASSETS: Cash $ 846,000 $ 723,000 Accounts receivable, net 828,000 970,000 Other receivable, stock offering proceeds 36,456,000 Inventories 21,521,000 15,403,000 Prepaid expenses and other current assets 1,088,000 478,000 Deferred income taxes 301,000 144,000 ------------- ------------ Total current assets 61,040,000 17,718,000 PROPERTY AND EQUIPMENT, Net 9,169,000 7,455,000 INTANGIBLE ASSETS, Net 158,000 266,000 OTHER ASSETS 351,000 344,000 ------------- ------------ TOTAL $70,718,000 $25,773,000 ------------- ------------ ------------- ------------ LIABILITIES AND STOCKHOLDER'S EQUITY CURRENT LIABILITIES: Short-term borrowings $ 6,190,000 $ - Current portion of obligations under capital leases 523,000 530,000 Accounts Payable 4,270,000 1,235,000 Income taxes payable - 400,000 Accrued expenses and other current liabilities 2,104,000 1,811,000 ------------- ------------ Total current liabilities 13,087,000 3,976,000 DEFERRED RENT 652,000 488,000 OBLIGATIONS UNDER CAPITAL LEASES, Net of current portion 407,000 767,000 SUBORDINATED DEBT 14,400,000 14,400,000 ------------- ------------ Total liabilities 28,546,000 19,631,000 ------------- ------------ COMMITMENTS AND CONTINGENCIES STOCKHOLDER'S EQUITY: Preferred stock, $.01 par value, 3,000,000 shares authorized, 0 issued and outstanding Common stock $.01 par value, 30,000,000 shares authorized, 13,135,550 and 10,160,550 issued and outstanding at September 30, 1997 and December 31, 1996, respectively 131,000 102,000 Additional paid-in capital 41,902,000 5,705,000 Retained earnings 871,000 1,067,000 Notes receivable from common stockholders (732,000) (732,000) ------------- ------------ Total stockholder's equity 42,172,000 6,142,000 ------------- ------------ TOTAL $70,718,000 $25,773,000 ------------- ------------ ------------- ------------
See accompanying notes. 3 BIG DOG HOLDINGS, INC. AND SUBSIDIARY CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, ------------------ ----------------- 1997 1996 1997 1996 ------------ ------------ ------------ ------------ NET SALES $ 24,129,000 $ 19,652,000 $ 55,272,000 $ 44,003,000 COST OF GOODS SOLD 10,022,000 8,341,000 23,230,000 18,958,000 ------------ ------------ ------------ ------------ GROSS PROFIT 14,107,000 11,311,000 32,042,000 25,045,000 ------------ ------------ ------------ ------------ OPERATING EXPENSES: Selling, marketing and distribution 9,879,000 8,631,000 27,643,000 22,316,000 General and administrative 1,118,000 976,000 3,229,000 2,952,000 ------------ ------------ ------------ ------------ Total operating expenses 10,997,000 9,607,000 30,872,000 25,268,000 ------------ ------------ ------------ ------------ INCOME (LOSS) FROM OPERATIONS 3,110,000 1,704,000 1,170,000 (223,000) INTEREST EXPENSE 518,000 432,000 1,485,000 1,099,000 ------------ ------------ ------------ ------------ INCOME (LOSS) BEFORE PROVISION (BENEFIT) FOR INCOME TAXES 2,592,000 1,272,000 (315,000) (1,322,000) PROVISION (BENEFIT) FOR INCOME TAXES 985,000 517,000 (119,000) (537,000) ------------ ------------ ------------ ------------ NET INCOME (LOSS) $ 1,607,000 $ 755,000 $ (196,000) $ (785,000) ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ NET INCOME (LOSS) PER COMMON SHARE $ 0.15 $ 0.07 $ (0.02) $ (0.08) ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ WEIGHTED AVERAGE COMMON SHARES AND COMMON SHARE EQUIVALENTS OUTSTANDING 10,652,000 10,252,000 10,227,000 10,147,000 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
See accompanying notes. 4 BIG DOG HOLDINGS, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
NINE MONTHS ENDED SEPTEMBER 30, ----------------- 1997 1996 ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (196,000) $ (785,000) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 1,841,000 1,299,000 Provision for losses on receivables 18,000 28,000 Loss on disposition of property and equipment 36,000 11,000 Deferred income taxes (157,000) (536,000) Changes in operating assets and liabilities: Receivables 123,000 (241,000) Inventories (6,118,000) (8,122,000) Prepaid expenses and other assets (1,060,000) (709,000) Accounts payable 2,605,000 2,200,000 Income taxes payable (400,000) (364,000) Accrued expenses and other current liabilities 293,000 251,000 Deferred rent 164,000 194,000 ------------ ------------ Net cash used in operating activities (2,851,000) (6,774,000) ------------ ------------ CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (3,476,000) (2,091,000) Other (7,000) (58,000) ------------ ------------ Net cash used in investing activities (3,483,000) (2,149,000) ------------ ------------ CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock - 545,000 Proceeds from exercise of stock options 651,000 - Proceeds from subordinated debt - 4,000,000 Principle repayments under capital lease obligations (384,000) (344,000) Short-term borrowings, net 6,190,000 5,794,000 ------------ ------------ Net cash provided by financing activities 6,457,000 9,995,000 ------------ ------------ NET INCREASE IN CASH 123,000 1,072,000 CASH, BEGINNING OF PERIOD 723,000 769,000 ------------ ------------ CASH, END OF PERIOD $ 846,000 $ 1,841,000 ------------ ------------ ------------ ------------ SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for: Interest $ 1,416,000 $ 614,000 Income taxes $ 437,000 $ 476,000
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: The Company entered into capital lease obligations of $18,000 and $256,000 for new equipment for the nine months ended September 30, 1997 and 1996, respectively. In July 1996, certain key employees and other individuals issued $855,000 of long-term notes receivable to the Company as payment for common stock. On September 25, 1997 the Company's initial public offering of 2,800,000 shares of common stock for $14.00 per share became effective. At September 30, 1997, net proceeds of $36,456,000 were included in a receivable account. See accompanying notes. 5 BIG DOG HOLDINGS, INC. AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) NOTE 1. Basis of Presentation: The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information with the instructions to Form 10-Q and Rule 10-01 of Regulations S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring entries necessary for a fair presentation have been included. Operating results for the three month and nine month periods ended September 30, 1997 are not necessarily indicative of the results that may be expected for the year ended December 31, 1997. For further information, refer to the financial statements and footnotes thereto for Big Dog Holdings, Inc. and its wholly owned subsidiary, Big Dog USA, Inc. (the "Company") as of and for the years ended December 31, 1996, 1995 and 1994. NOTE 2. Initial Public Offering of Common Stock On September 25, 1997, the Company's $56.0 million initial public offering of 4,000,000 shares of common stock at $14.00 per share was declared effective. Of the 4,000,000 shares, the Company sold 2,800,000 shares and certain stockholders sold 1,200,000 shares. The Company's net proceeds, after underwriting discounts and expenses associated with the offering were approximately $35.6 million. The Company used the net proceeds to repay $14.4 million of certain promissory notes due through November 4, 2003 that bore interest at 10% per annum, repay $6.2 million of outstanding advances under the Company's revolving credit facility that matured May 2, 1998 and that bore interest at the prime rate of its bank lender (8.5% per annum as of September 30, 1997), and approximately $.9 million to repay capital lease obligations. The Company intends to use the remaining $14.1 million of net proceeds for working capital and other general corporate purposes. Pending such uses, the net proceeds will be invested in short-term, investment grade, interest-bearing securities. NOTE 3. Net Income (Loss) Per Share: Net income (loss) per share is based on the weighted average number of common and common stock equivalent, if dilutive, shares outstanding during the period. NOTE 4. Short-term Borrowings The Company has commitments under letters of credit totaling $1,136,000 at September 30, 1997. The letters of credit expire through December 31, 1997. 6 NOTE 5. Stockholders' Equity On August 1, 1997, the Company adopted the 1997 Performance Award Plan to attract, reward and retain officers and employees. The maximum number of shares reserved for issuance under this plan is 1,000,000. Awards under this plan may be in the form of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, performance shares, stock bonuses, or cash bonuses based upon performance. On August 1, 1997 and September 25, 1997, the Company granted options under this plan relating to the purchase of 282,500 and 87,000 shares of Common Stock, respectively, at an exercise price of $12.00 and $14.00 per share, respectively. On August 1, 1997 the Board of Directors of the Company approved the authorization of 3,000,000 shares of $.01 par value Preferred Stock. To date, no shares of Preferred Stock have been issued. 7 ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Management's discussion and analysis should be read in conjunction with the Company's financial statements and notes related thereto. Certain minor differences in the amounts below result from rounding of the amounts shown in the consolidated financial statements. RESULTS OF OPERATIONS Three Months Ended September 30, 1997 and 1996 NET SALES. Net sales consist of sales from the Company's stores, catalog, and wholesale accounts, all net of returns and allowances. Net sales increased to $24.1 million in the three months ended September 30, 1997 from $19.7 million for the same period in 1996, an increase of $4.5 million, or 22.8%. Of the $4.5 million increase, $3.3 million was attributable to stores not yet qualifying as comparable stores, $0.9 million came from the 5.2% comparable store sales increase for the period and $0.3 million came from an increase in non-retail sales. Management believes comparable store sales increased because of continued improvements in Company operations. These improvements include (i) the addition and maturation of key executives in store operations, merchandising and distribution and (ii) the better merchandising associated with the Company's utilization of its management information system as a result of the availability of detailed data on which to base planning and allocation decisions. In particular, continued strong growth in the Company's recently introduced categories of children's, Big and Tall and non-apparel products contributed to the increase. GROSS PROFIT. Gross profit increased to $14.1 million for the three months ended September 30, 1997 from $11.3 million for the same period of 1996, an increase of $2.8 million, or 24.7%. As a percentage of net sales, gross profit increased to 58.5% in the three months ended September 30, 1997 from 57.6% in the same period in 1996. This increase as a percentage of net sales was primarily attributable to better purchasing of certain key products. Also contributing to the percentage increase were continued improvements in merchandising, planning and allocation which led to better sell-throughs and fewer markdowns. SELLING, MARKETING AND DISTRIBUTION EXPENSES. Selling, marketing and distribution expenses consist of expenses associated with creating, distributing, and selling products through all channels of distribution, including occupancy, payroll and catalog costs. Selling, marketing and distribution expenses increased to $9.9 million in the three months ended September 30, 1997 from $8.6 million in the same period for 1996, an increase of $1.2 million, or 14.5%. As a percentage of net sales, these expenses decreased to 40.9% in the three months ended September 30, 1997 from 43.9% in the same period in 1996. This decrease in operating expenses as a percentage of net sales was attributable to improved store operations and reductions in non-retail operating expenses as well as leveraging these expenses over a larger revenue base. 8 GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses consist of administrative salaries, corporate occupancy costs and other corporate expenses. General and administrative expenses increased to $1.1 million in the three months ended September 30, 1997 from $1.0 million in the same period of 1996. As a percentage of net sales, these expenses decreased to 4.6% in the three months ended September 30, 1997 from 5.0% in the comparable 1996 period, reflecting the leverage of spreading them over a larger revenue base. INTEREST EXPENSE. Interest expense increased to $0.5 million in the three months ended September 30, 1997 from $0.4 million in the comparable 1996 period, an increase of $0.1 million, primarily as a result of increased amounts due under outstanding subordinated notes. The Company's initial public offering closed on October 1, 1997 and all debt was paid off with a portion of the net proceeds. Nine Months Ended September 30, 1997 and 1996 NET SALES. Net sales increased to $55.3 million in nine months ended September 30, 1997 from $44.0 million for the same period in 1996, an increase of $11.3 million, or 25.6%. Of the $11.3 million increase, $8.9 million was attributable to stores not yet qualifying as comparable store and $2.8 million came from the 7.5% comparable store sales increase for the period. These increases were partially offset by a $0.4 million decline in non-retail sales. Management believes comparable store sales increased because of continued improvements in Company operations. These improvements include (i) the addition and maturation of key executives in store operations, merchandising and distribution and (ii) the better merchandising associated with the Company's utilization of its management information system as a result of the availability of detailed data on which to base planning and allocation decisions. In particular, continued strong growth in the Company's recently introduced categories of children's, Big and Tall and non-apparel products contributed to the increase. The Company also benefited from easier comparisons to sales in the first nine months of 1996. GROSS PROFIT. Gross profit increased to $32.0 million for the nine months ended September 30, 1997 from $25.0 million for the same period of 1996, an increase of $7.0 million, or 27.9%. As a percentage of net sales, gross profit increased to 58.0% in the nine months ended September 30, 1997 from 56.9% in the same period in 1996. This increase as a percentage of net sales was primarily attributable to better purchasing of certain key products. Also contributing to the percentage increase were continued improvements in merchandising, planning and allocation which led to better sell-throughs and fewer markdowns. SELLING, MARKETING AND DISTRIBUTION EXPENSES. Selling, marketing and distribution expenses increased to $27.6 million in the nine months ended September 30, 1997 from $22.3 million in the same period for 1996, an increase of $5.3 million, or 23.9%. As a percentage of net sales, these expenses decreased to 50.0% in the nine months ended September 30, 1997 from 50.7% in the same period in 1996. This decrease in operating expenses as a percentage of net sales was primarily attributable to improved store 9 operations. GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative expenses increased to $3.2 million in the nine months ended September 30, 1997 from $3.0 million in the same period of 1996. As a percentage of net sales, these expenses decreased to 5.8% in the nine months ended September 30, 1997 from 6.7% in the comparable 1996 period, reflecting the leverage of spreading them over a larger revenue base. INTEREST EXPENSE. Interest expense increased to $1.5 million in the nine months ended September 30, 1997 from $1.1 million in the comparable 1996 period, an increase of $0.4 million, primarily as a result of increased amounts due under outstanding subordinated notes and increased borrowings under the Company's revolving credit facility. The Company's initial public offering closed on October 1, 1997 and all debt was paid off with a portion of the net proceeds. LIQUIDITY AND CAPITAL RESOURCES During the third quarter and the nine months ended September 30, 1997, the Company's primary uses of cash was to finance store openings and purchase merchandise inventories. The Company satisfied its cash requirements with a revolving line of credit with its bank. The Company closed an initial public offering of 4,000,000 shares of its common stock for $56.0 million on October 1, 1997. Of the 4,000,000 shares sold, the Company sold 2,800,000 shares and certain stockholders sold 1,200,000 shares. Of the proceeds, the Company netted $35.6 million, after underwriting discounts and expenses, with the remainder of the net proceeds going to selling stockholders. Proceeds to the Company were used to retire all outstanding debt and for working capital and other general corporate purposes. Cash used in operating activities was $6.8 million and $2.9 million for the first nine months of 1996 and 1997, respectively. The reduced use of cash in operating activities for the nine months ended September 30, 1997 compared to the similar 1996 period are attributable to decreased net loss, increased depreciation, and slower growth in inventories. Working capital was $48.0 million at September 30, 1997 compared to $13.7 million at December 31, 1996, an increase of $34.2 million. Included in the increase is $36.5 million of stock offering proceeds receivable related to the initial public offering. Inventories at September 30, 1997 were $21.5 million compared to $15.4 million at December 31, 1996, an increase of $6.1 million. Cash used in investment activities in the nine months ended September 30, 1996 and 1997 was $2.1 million and $3.5 million, respectively. Cash flows used in investment activities relate primarily to new store openings, and in 1997, to retrofitting 35 existing stores with new fixtures. The Company opened 22 and 18 net new stores in the nine months ended September 30, 1996 and 1997, respectively. 10 Cash provided by financing activities in the nine months ended September 30, 1996 and 1997 was $10.0 million and $6.5 million, respectively. In the 1996 period, the Company received $4.0 million proceeds from the issuance of subordinated debt. Net short term borrowings under the Company's revolving line of credit totaled $5.8 million and $6.2 million, respectively, for the nine months ended September 30, 1996 and 1997. The Company has a revolving credit facility with a bank that expires in May 1998. The revolving credit facility provides for $3.0 million (reduced from $10.5 million at September 30, 1997) that can be used for cash advances and letters of credit. Interest on advances is payable at the bank's prime rate. SEASONALITY The Company's business is seasonal by nature. However, the Company believes its seasonality is somewhat different than many apparel retailers since a significant number of the Company's stores are located in tourist areas and outdoor malls that have different visitation patterns than urban and suburban retail centers. The third and fourth quarters (consisting of the summer vacation, back-to-school and Christmas seasons) have historically accounted for the largest percentage of the Company's annual sales and profits. The Company has historically incurred operating losses in its first quarter and may be expected to do so in the foreseeable future. STATEMENT REGARDING FORWARD LOOKING DISCLOSURE Certain sections of this Quarterly Report on Form 10-Q, including the preceding "Management's Discussion and Analysis of Financial Condition and Results of Operations," contain various forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which represents the Company's expectations or beliefs concerning future events. These forward looking statements involve risks and uncertainties, and the Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements. Primary factors that could cause actual results to differ are indicated in the Company's prospectus dated September 25, 1997 that is part of the Company's registration statement of Form S-1 (File No. 333-33027) filed with the Securities and Exchange Commission. 11 ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not applicable PART II. OTHER INFORMATION ITEM 1: LEGAL PROCEEDINGS Not applicable ITEM 2: CHANGES IN SECURITIES Not applicable ITEM 3: DEFAULTS UPON SENIOR SECURITIES Not applicable ITEM 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS Not applicable ITEM 5. OTHER INFORMATION On October 1, 1997, the Company closed its initial public offering of 4,000,000 shares of its common stock to the public at a price of $14.00 per share. 2,800,000 shares were issued by the Company in such offering and the balance were sold by selling stockholders. The Company received approximately $35.6 million in cash, net of the underwriting discount and offering expenses. ITEM 6: EXHIBITS AND REPORTS ON 8-K (a) Exhibits EXHIBIT NO. DOCUMENT DESCRIPTION 27.1 Financial Data Schedule (b) Reports on Form 8-K - Not applicable 12 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. BIG DOG HOLDINGS, INC. November 14, 1997 /S/ ANDREW D. FESHBACH ------------------------------------- Andrew D. Feshbach President and Chief Executive Officer (Principal Executive Officer) November 14, 1997 /S/ JONATHAN S. HOWE ------------------------------------- Jonathan S. Howe Chief Financial Officer and Treasurer (Principal Financial Officer) 13 EX-27 2 FDS
5 1,000 3-MOS DEC-31-1997 JUL-01-1997 SEP-30-1997 846 0 37,387 (103) 21,521 61,040 13,850 (4,681) 70,718 13,087 0 0 0 131 42,041 70,718 24,129 24,129 10,022 10,997 0 0 518 2,592 985 1,607 0 0 0 1,607 .15 .15
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