Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS

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CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Feb. 01, 2020
Feb. 02, 2019
Feb. 03, 2018
Net sales:      
Total net sales $ 2,881,261 $ 3,004,511 $ 3,053,021
Cost of sales:      
Total cost of sales 1,712,649 1,693,903 1,711,593
Gross margin:      
Retail clothing product 1,250,750 1,358,715 1,354,018
Rental services 326,771 339,903 358,382
Alteration and other services 7,046 18,027 45,009
Occupancy costs (415,955) (406,037) (415,981)
Total gross margin 1,168,612 1,310,608 1,341,428
Advertising expense 159,052 165,248 172,001
Selling, general and administrative expenses 911,722 919,798 951,831
Goodwill impairment charge     1,500
Operating income 97,838 225,562 216,096
Interest income 523 563 564
Interest expense (71,272) (79,570) (100,471)
(Loss) gain on extinguishment of debt, net (77) (30,253) 5,445
Earnings before income taxes 27,012 116,302 121,634
Provision for income taxes 1,645 17,706 34,617
Net earnings from continuing operations 25,367 98,596 87,017
(Loss) earnings from discontinued operations, net of tax (107,643) (15,356) 9,686
Net (loss) earnings $ (82,276) $ 83,240 $ 96,703
Net earnings from continuing operations per common share:      
Basic (in dollars per share) $ 0.51 $ 1.98 $ 1.77
Diluted (in dollars per share) 0.51 1.94 1.76
Net (loss) earnings from discontinued operations per common share:      
Basic (in dollars per share) (2.16) (0.31) 0.20
Diluted (in dollars per share) (2.16) (0.30) 0.20
Net (loss) earnings per common share:      
Basic (in dollars per share) (1.65) 1.67 1.97
Diluted (in dollars per share) $ (1.65) $ 1.64 $ 1.95
Weighted-average common shares outstanding:      
Basic (in shares) 49,774 49,856 49,094
Diluted (in shares) 49,929 50,725 49,468
Retail clothing product      
Net sales:      
Total net sales $ 2,358,392 $ 2,454,747 $ 2,439,817
Cost of sales:      
Total cost of sales 1,107,642 1,096,032 1,085,799
Rental services      
Net sales:      
Total net sales 383,521 399,146 428,355
Cost of sales:      
Total cost of sales 56,750 59,243 69,973
Total alteration and other services      
Net sales:      
Total net sales 139,348 150,618 184,849
Cost of sales:      
Total cost of sales 132,302 132,591 139,840
Occupancy costs      
Cost of sales:      
Total cost of sales $ 415,955 $ 406,037 $ 415,981