in addition , we believe our new automated e-commerce fulfillment center will become operational in the second quarter of 2014 and will allow us to more efficiently fulfill e-commerce orders and support the growth of the e-commerce business . over the last six years , we have invested approximately $ 44 million in infrastructure and systems to support our recent and long-term growth . we believe our distribution and allocation capabilities are unique within the industry and allow us to quickly sort and process merchandise and deliver it to our stores in a floor-ready format for immediate display . we believe our distribution and new e-commerce fulfillment infrastructure can support a national retail 35 footprint of at least 500 stores and significant growth of our online sales with minimal incremental capital investment . in addition , we anticipate spending approximately $ 3 million to complete our new e-commerce fulfillment center in fiscal 2014. we believe our business strategy will continue to offer significant opportunity , but it also presents risks and challenges . these risks and challenges include , but are not limited to , that we may not be able to effectively identify and respond to changing fashion trends and customer preferences , that we may not be able to find desirable locations for new stores and that we may not be able to effectively manage our future growth . in addition , our financial results can be expected to be directly impacted by trends in the general economy . a decline in consumer spending or a substantial increase in product costs due to commodity cost increases or general inflation could lead to a reduction in our sales as well as greater margin pressure as costs may not be able to be passed on to consumers and the competitive environment could become more highly promotional . see risk factors for other important factors that could adversely impact us and our results of operations . we strive to ensure that addressing these risks does not divert our attention from continuing to build on the strengths that we believe have driven the growth of our business . how we assess the performance of our business in assessing the performance of our business , we consider a variety of performance and financial measures . the key indicators of the financial condition and operating performance of our business are net sales , comparable store sales , gross profit , selling , general and administrative expenses and operating income . net sales net sales reflect revenue from the sale of our merchandise at store locations as well as sales of merchandise through our e-commerce store , which is reflected in sales when the merchandise is received by the customer . net sales also include shipping and handling fees for e-commerce shipments that have been delivered to the customer . net sales are net of returns on sales during the period as well as an estimate of returns expected in the future stemming from current period sales . revenue from the sale of gift cards is deferred and not included in net sales until the gift cards are used to purchase merchandise . however , over time , the redemption of some gift cards becomes remote ( referred to as gift card breakage ) . revenue from estimated gift card breakage is also included in net sales . our business is seasonal and as a result our revenues fluctuate from quarter to quarter . in addition , our revenues in any given quarter can be affected by a number of factors including the timing of holidays and weather patterns . the third and fourth quarters of the fiscal year , which include the back-to-school and holiday sales seasons , have historically produced stronger sales and disproportionately stronger operating results than have the first two quarters of the fiscal year . comparable store sales comparable store sales are net sales from stores that have been open at least 12 full fiscal months as of the end of the current reporting period . a remodeled or relocated store is included in comparable store sales , both during and after construction , if the square footage of the store was not changed by more than 20 % and the store was not closed for more than five days in any fiscal month . comparable store sales include sales through our e-commerce store , but exclude gift card breakage income and e-commerce shipping and handling fee revenue . some of our competitors and other retailers may calculate comparable or same store sales differently than we do . as a result , data in this report regarding our comparable store sales may not be comparable to similar data made available by other retailers . measuring the change in year-over-year comparable store sales allows us to evaluate how our store base is performing . numerous factors affect our comparable store sales , including : overall economic trends ; our ability to identify and respond effectively to consumer preferences and fashion trends ; competition ; the timing of our releases of new and seasonal styles ; 36 changes in our product mix ; pricing ; the level of customer service that we provide in stores ; our ability to source and distribute products efficiently ; calendar shifts of holiday or seasonal periods ; the number and timing of store openings and the relative proportion of new stores to mature stores ; and the timing and success of promotional and advertising efforts . opening new stores is an important part of our growth strategy and we expect a significant percentage of our net sales during this growth period to come from non-comparable store sales . accordingly , comparable store sales are only one element we use to assess the success of our business . gross profit gross profit is equal to our net sales less our cost of goods sold . story_separator_special_tag store selling expenses increased $ 11.3 million , or 18 % , to $ 75.1 million in fiscal year 2012 from $ 63.8 million in fiscal year 2011. as a percentage of net sales , store selling expenses were 16.1 % and 15.9 % during fiscal years 2012 and 2011 , respectively . 41 the following contributed to the increase in store selling expenses as a percentage of net sales : marketing costs increased $ 2.7 million , or 0.2 % as a percentage of net sales , reflecting growth in the size and number of marketing campaigns , entry into many new markets , increased distribution of catalog mailings and marketing costs incurred to support and drive the growth of our e-commerce business ; store and regional payroll , payroll benefits and related personnel costs increased $ 8.1 million , or 0.2 % as a percentage of net sales , as these costs increased more quickly than net sales , partially due to many new store openings ; and supplies and other support costs increased $ 0.5 million , but decreased 0.2 % as a percentage of net sales . general and administrative expenses increased $ 13.3 million , or 44 % , to $ 43.7 million in fiscal year 2012 from $ 30.4 million in fiscal year 2011. as a percentage of net sales , general and administrative expenses were 9.4 % and 7.6 % during fiscal years 2012 and 2011 , respectively . the following contributed to the increase in general and administrative expenses as a percentage of net sales : a one-time charge of $ 7.6 million , or 1.6 % of net sales , to recognize life-to-date stock-based compensation expense for stock options , recognition that was triggered by the consummation of our ipo during the second quarter of 2012 ; ongoing stock-based compensation expense of $ 2.0 million , or 0.4 % of net sales , which commenced upon the completion of our ipo during the second quarter of 2012 ; payroll , payroll benefits and related costs for corporate office personnel increased $ 1.4 million , which represents a decrease of 0.5 % as a percentage of net sales , as these costs increased more slowly than sales ; and depreciation , legal , audit and tax services and other expenses , including incremental costs in the current year as a result of becoming a public company , increased $ 2.3 million , or 0.3 % as a percentage of net sales . operating income operating income decreased $ 3.5 million , or 10 % , to $ 31.4 million in fiscal year 2012 from $ 34.9 million in fiscal year 2011. as a percentage of net sales , operating income was 6.7 % and 8.7 % during fiscal years 2012 and 2011 , respectively . the decrease in operating income as a percentage of net sales was due to the recognition of $ 9.6 million of stock-based compensation expense for stock options during fiscal year 2012 , as discussed above . other income ( expense ) , net other income expense , net was $ 0.1 million and $ 0.2 million in fiscal years 2012 and 2011 , respectively . other income ( expense ) , net , comprises interest earned on cash balances and tenant construction allowances received from landlords , realized gains on marketable securities , interest paid on a capital lease of our corporate office and distribution center and costs related to maintaining our unused revolving credit facility . income tax expense income tax expense in fiscal year 2012 was $ 7.4 million . income tax expense was comprised of ( 1 ) a one-time deferred tax benefit of $ 3.0 million recognized upon the conversion to a c corporation , ( 2 ) income tax expense of $ 0.1 million related to the period during fiscal year 2012 in which the company was an s corporation ( january 29 , 2012 through may 1 , 2012 ) computed at the s corporation effective tax rate and ( 3 ) income tax expense of $ 10.3 million related to the period in which the company was a c corporation ( may 2 , 2012 through february 2 , 2013 ) at the c corporation effective tax rate . for fiscal year 2011 , our income tax expense of $ 0.4 million ( calculated at the effective tax rate of 1.1 % ) was mainly comprised of a 1.5 % california franchise tax . the increase in our effective tax rate resulted from our change in tax status . 42 net income net income decreased $ 10.4 million , or 30 % , to $ 23.9 million in fiscal year 2012 from $ 34.3 million in fiscal year 2011 , due to the factors discussed above . applying a pro forma 40 % c corporation effective tax rate to both years , rather than the s corporation tax rate that actually applied to us prior to the reorganization , pro forma net income decreased $ 2.1 million , or 10 % , to $ 18.8 million in fiscal year 2012 from $ 20.8 million in fiscal year 2011. basic earnings per share of class a and class b common stock was $ 0.93 in fiscal year 2012 , compared to $ 1.72 in fiscal year 2011. diluted earnings per share of class a and class b common stock was $ 0.92 in fiscal year 2012 , compared to $ 1.68 in fiscal year 2011. applying a pro forma 40 % c corporation effective tax rate to fiscal years 2012 and 2011 , rather than the blended s corporation and c corporation tax rates that actually applied to us during those periods , pro forma basic earnings per share of class a and class b common stock was $ 0.73 and $ 1.04 in fiscal years 2012 and 2011 , respectively , and pro forma diluted earnings per share of class

net cash provided by operating activities operating activities consist primarily of net income adjusted for non-cash items that include depreciation , asset impairment write-downs , deferred income taxes and stock-based compensation expense , plus the effect on cash of changes during the year in our assets and liabilities . 43 we generated $ 43.8 million of net cash from operating activities in fiscal year 2013. the significant components of cash flows from operating activities were net income of $ 18.1 million , the add-back of non-cash depreciation and amortization expense of $ 19.4 million , non-cash stock-based compensation expense of $ 3.1 million and a non-cash impairment charge of $ 1.8 million related to store assets at four stores . deferred rent increased by $ 6.0 million due to the opening of new stores and accounts payable increased by $ 1.6 million due to the timing of payments . the above was offset by an increase in receivables of $ 2.6 million mainly due to an income tax receivable which was in a payable position in the prior year , a $ 1.9 million increase in prepaid expenses and other assets mainly due to an increase in deferred rent resulting from our increase in the number of stores , a $ 1.8 million decrease in accrued expenses due to the timing of payments and a $ 1.1 million decrease in accrued compensation and benefits due to lower incentive pay accruals . we generated $ 41.7 million of net cash from operating activities in fiscal year 2012. the significant components of cash flows from operating activities were net income of $ 23.9 million , the add-back of non-cash depreciation and amortization expense of $ 16.7 million , the change in deferred income taxes of $ 6.7 million and non-cash stock-based compensation expense of $ 9.6 million . deferred rent increased by $ 8.6 million due to the opening of new stores .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by operating activities operating activities consist primarily of net income adjusted for non-cash items that include depreciation , asset impairment write-downs , deferred income taxes and stock-based compensation expense , plus the effect on cash of changes during the year in our assets and liabilities . 43 we generated $ 43.8 million of net cash from operating activities in fiscal year 2013. the significant components of cash flows from operating activities were net income of $ 18.1 million , the add-back of non-cash depreciation and amortization expense of $ 19.4 million , non-cash stock-based compensation expense of $ 3.1 million and a non-cash impairment charge of $ 1.8 million related to store assets at four stores . deferred rent increased by $ 6.0 million due to the opening of new stores and accounts payable increased by $ 1.6 million due to the timing of payments . the above was offset by an increase in receivables of $ 2.6 million mainly due to an income tax receivable which was in a payable position in the prior year , a $ 1.9 million increase in prepaid expenses and other assets mainly due to an increase in deferred rent resulting from our increase in the number of stores , a $ 1.8 million decrease in accrued expenses due to the timing of payments and a $ 1.1 million decrease in accrued compensation and benefits due to lower incentive pay accruals . we generated $ 41.7 million of net cash from operating activities in fiscal year 2012. the significant components of cash flows from operating activities were net income of $ 23.9 million , the add-back of non-cash depreciation and amortization expense of $ 16.7 million , the change in deferred income taxes of $ 6.7 million and non-cash stock-based compensation expense of $ 9.6 million . deferred rent increased by $ 8.6 million due to the opening of new stores .
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 Suspicious Activity Report : in addition , we believe our new automated e-commerce fulfillment center will become operational in the second quarter of 2014 and will allow us to more efficiently fulfill e-commerce orders and support the growth of the e-commerce business . over the last six years , we have invested approximately $ 44 million in infrastructure and systems to support our recent and long-term growth . we believe our distribution and allocation capabilities are unique within the industry and allow us to quickly sort and process merchandise and deliver it to our stores in a floor-ready format for immediate display . we believe our distribution and new e-commerce fulfillment infrastructure can support a national retail 35 footprint of at least 500 stores and significant growth of our online sales with minimal incremental capital investment . in addition , we anticipate spending approximately $ 3 million to complete our new e-commerce fulfillment center in fiscal 2014. we believe our business strategy will continue to offer significant opportunity , but it also presents risks and challenges . these risks and challenges include , but are not limited to , that we may not be able to effectively identify and respond to changing fashion trends and customer preferences , that we may not be able to find desirable locations for new stores and that we may not be able to effectively manage our future growth . in addition , our financial results can be expected to be directly impacted by trends in the general economy . a decline in consumer spending or a substantial increase in product costs due to commodity cost increases or general inflation could lead to a reduction in our sales as well as greater margin pressure as costs may not be able to be passed on to consumers and the competitive environment could become more highly promotional . see risk factors for other important factors that could adversely impact us and our results of operations . we strive to ensure that addressing these risks does not divert our attention from continuing to build on the strengths that we believe have driven the growth of our business . how we assess the performance of our business in assessing the performance of our business , we consider a variety of performance and financial measures . the key indicators of the financial condition and operating performance of our business are net sales , comparable store sales , gross profit , selling , general and administrative expenses and operating income . net sales net sales reflect revenue from the sale of our merchandise at store locations as well as sales of merchandise through our e-commerce store , which is reflected in sales when the merchandise is received by the customer . net sales also include shipping and handling fees for e-commerce shipments that have been delivered to the customer . net sales are net of returns on sales during the period as well as an estimate of returns expected in the future stemming from current period sales . revenue from the sale of gift cards is deferred and not included in net sales until the gift cards are used to purchase merchandise . however , over time , the redemption of some gift cards becomes remote ( referred to as gift card breakage ) . revenue from estimated gift card breakage is also included in net sales . our business is seasonal and as a result our revenues fluctuate from quarter to quarter . in addition , our revenues in any given quarter can be affected by a number of factors including the timing of holidays and weather patterns . the third and fourth quarters of the fiscal year , which include the back-to-school and holiday sales seasons , have historically produced stronger sales and disproportionately stronger operating results than have the first two quarters of the fiscal year . comparable store sales comparable store sales are net sales from stores that have been open at least 12 full fiscal months as of the end of the current reporting period . a remodeled or relocated store is included in comparable store sales , both during and after construction , if the square footage of the store was not changed by more than 20 % and the store was not closed for more than five days in any fiscal month . comparable store sales include sales through our e-commerce store , but exclude gift card breakage income and e-commerce shipping and handling fee revenue . some of our competitors and other retailers may calculate comparable or same store sales differently than we do . as a result , data in this report regarding our comparable store sales may not be comparable to similar data made available by other retailers . measuring the change in year-over-year comparable store sales allows us to evaluate how our store base is performing . numerous factors affect our comparable store sales , including : overall economic trends ; our ability to identify and respond effectively to consumer preferences and fashion trends ; competition ; the timing of our releases of new and seasonal styles ; 36 changes in our product mix ; pricing ; the level of customer service that we provide in stores ; our ability to source and distribute products efficiently ; calendar shifts of holiday or seasonal periods ; the number and timing of store openings and the relative proportion of new stores to mature stores ; and the timing and success of promotional and advertising efforts . opening new stores is an important part of our growth strategy and we expect a significant percentage of our net sales during this growth period to come from non-comparable store sales . accordingly , comparable store sales are only one element we use to assess the success of our business . gross profit gross profit is equal to our net sales less our cost of goods sold . story_separator_special_tag store selling expenses increased $ 11.3 million , or 18 % , to $ 75.1 million in fiscal year 2012 from $ 63.8 million in fiscal year 2011. as a percentage of net sales , store selling expenses were 16.1 % and 15.9 % during fiscal years 2012 and 2011 , respectively . 41 the following contributed to the increase in store selling expenses as a percentage of net sales : marketing costs increased $ 2.7 million , or 0.2 % as a percentage of net sales , reflecting growth in the size and number of marketing campaigns , entry into many new markets , increased distribution of catalog mailings and marketing costs incurred to support and drive the growth of our e-commerce business ; store and regional payroll , payroll benefits and related personnel costs increased $ 8.1 million , or 0.2 % as a percentage of net sales , as these costs increased more quickly than net sales , partially due to many new store openings ; and supplies and other support costs increased $ 0.5 million , but decreased 0.2 % as a percentage of net sales . general and administrative expenses increased $ 13.3 million , or 44 % , to $ 43.7 million in fiscal year 2012 from $ 30.4 million in fiscal year 2011. as a percentage of net sales , general and administrative expenses were 9.4 % and 7.6 % during fiscal years 2012 and 2011 , respectively . the following contributed to the increase in general and administrative expenses as a percentage of net sales : a one-time charge of $ 7.6 million , or 1.6 % of net sales , to recognize life-to-date stock-based compensation expense for stock options , recognition that was triggered by the consummation of our ipo during the second quarter of 2012 ; ongoing stock-based compensation expense of $ 2.0 million , or 0.4 % of net sales , which commenced upon the completion of our ipo during the second quarter of 2012 ; payroll , payroll benefits and related costs for corporate office personnel increased $ 1.4 million , which represents a decrease of 0.5 % as a percentage of net sales , as these costs increased more slowly than sales ; and depreciation , legal , audit and tax services and other expenses , including incremental costs in the current year as a result of becoming a public company , increased $ 2.3 million , or 0.3 % as a percentage of net sales . operating income operating income decreased $ 3.5 million , or 10 % , to $ 31.4 million in fiscal year 2012 from $ 34.9 million in fiscal year 2011. as a percentage of net sales , operating income was 6.7 % and 8.7 % during fiscal years 2012 and 2011 , respectively . the decrease in operating income as a percentage of net sales was due to the recognition of $ 9.6 million of stock-based compensation expense for stock options during fiscal year 2012 , as discussed above . other income ( expense ) , net other income expense , net was $ 0.1 million and $ 0.2 million in fiscal years 2012 and 2011 , respectively . other income ( expense ) , net , comprises interest earned on cash balances and tenant construction allowances received from landlords , realized gains on marketable securities , interest paid on a capital lease of our corporate office and distribution center and costs related to maintaining our unused revolving credit facility . income tax expense income tax expense in fiscal year 2012 was $ 7.4 million . income tax expense was comprised of ( 1 ) a one-time deferred tax benefit of $ 3.0 million recognized upon the conversion to a c corporation , ( 2 ) income tax expense of $ 0.1 million related to the period during fiscal year 2012 in which the company was an s corporation ( january 29 , 2012 through may 1 , 2012 ) computed at the s corporation effective tax rate and ( 3 ) income tax expense of $ 10.3 million related to the period in which the company was a c corporation ( may 2 , 2012 through february 2 , 2013 ) at the c corporation effective tax rate . for fiscal year 2011 , our income tax expense of $ 0.4 million ( calculated at the effective tax rate of 1.1 % ) was mainly comprised of a 1.5 % california franchise tax . the increase in our effective tax rate resulted from our change in tax status . 42 net income net income decreased $ 10.4 million , or 30 % , to $ 23.9 million in fiscal year 2012 from $ 34.3 million in fiscal year 2011 , due to the factors discussed above . applying a pro forma 40 % c corporation effective tax rate to both years , rather than the s corporation tax rate that actually applied to us prior to the reorganization , pro forma net income decreased $ 2.1 million , or 10 % , to $ 18.8 million in fiscal year 2012 from $ 20.8 million in fiscal year 2011. basic earnings per share of class a and class b common stock was $ 0.93 in fiscal year 2012 , compared to $ 1.72 in fiscal year 2011. diluted earnings per share of class a and class b common stock was $ 0.92 in fiscal year 2012 , compared to $ 1.68 in fiscal year 2011. applying a pro forma 40 % c corporation effective tax rate to fiscal years 2012 and 2011 , rather than the blended s corporation and c corporation tax rates that actually applied to us during those periods , pro forma basic earnings per share of class a and class b common stock was $ 0.73 and $ 1.04 in fiscal years 2012 and 2011 , respectively , and pro forma diluted earnings per share of class

