Annual report pursuant to section 13 and 15(d)

Quarterly Results of Operations (Unaudited)

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Quarterly Results of Operations (Unaudited)
12 Months Ended
Jan. 28, 2012
Quarterly Results of Operations [Abstract]  
QUARTERLY RESULTS OF OPERATIONS
17.

QUARTERLY RESULTS OF OPERATIONS (Unaudited)

Our quarterly results of operations reflect all adjustments, consisting only of normal, recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. The consolidated results of operations by quarter for the 2011 and 2010 fiscal years are presented below and include the results of operations for Dimensions and Alexandra since their date of acquisition on August 6, 2010 (in thousands, except per share amounts):

 

                                 
    Fiscal 2011 Quarters Ended  
    April 30,
2011
    July 30,
2011
    October 29,
2011
    January 28,
2012
 

Net sales

  $ 580,384     $ 655,529     $ 584,602     $ 562,169  

Gross margin

    246,633       309,245       268,169       224,880  

Net earnings (loss) attributable to common shareholders

  $ 27,425     $ 57,078     $ 39,877     $ (3,779

Net earnings (loss) per common share attributable to common shareholders:

                               

Basic

  $ 0.52     $ 1.09     $ 0.77     $ (0.07

Diluted

  $ 0.52     $ 1.09     $ 0.77     $ (0.07

 

                                 
    Fiscal 2010 Quarters Ended  
    May 1,
2010
    July 31,
2010
    October 30,
2010
    January 29,
2011
 

Net sales

  $ 473,466     $ 536,989     $ 550,103     $ 542,106  

Gross margin

    201,003       260,272       234,999       202,159  

Net earnings (loss) attributable to common shareholders

  $ 13,562     $ 42,962     $ 25,259     $ (14,086

Net earnings (loss) per common share attributable to common shareholders:

                               

Basic

  $ 0.26     $ 0.81     $ 0.47     $ (0.27

Diluted

  $ 0.26     $ 0.81     $ 0.47     $ (0.27

 

Due to the method of calculating weighted average common shares outstanding, the sum of the quarterly per share amounts may not equal net earnings per common share attributable to common shareholders for the respective years.

As discussed in Note 1 under “Impairment of Long-Lived Assets,” we recognized pretax non-cash asset impairment charges related to store assets of $2.0 million ($1.0 million in the second quarter, $0.7 million in the third quarter and $0.3 million in the fourth quarter) in fiscal 2011 and $5.9 million ($0.2 million in the second quarter, $3.2 million in the third quarter and $2.5 million in the fourth quarter) in fiscal 2010.