Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Aug. 01, 2015
Aug. 02, 2014
Aug. 01, 2015
Aug. 02, 2014
Net sales:        
Total net sales $ 920,074 $ 803,078 $ 1,805,163 $ 1,433,552
Cost of sales:        
Total cost of sales 501,393 444,536 1,004,930 791,646
Gross margin:        
Total gross margin 418,681 358,542 800,233 641,906
Advertising expense 44,981 38,226 95,637 66,997
Selling, general and administrative expenses 275,577 277,612 551,184 504,924
Operating income 98,123 42,704 153,412 69,985
Interest income 62 119 90 180
Interest expense (26,535) (13,193) (53,018) (14,328)
Loss on extinguishment of debt   (2,158) (12,675) (2,158)
Earnings before income taxes 71,650 27,472 87,809 53,679
Provision for income taxes 23,871 15,104 29,661 24,853
Net earnings (loss) including non-controlling interest 47,779 12,368 58,148 28,826
Net earnings attributable to non-controlling interest   (112)   (84)
Net earnings (loss) attributable to common shareholders $ 47,779 $ 12,256 $ 58,148 $ 28,742
Net earnings per common share allocated to common shareholders:        
Basic (in dollars per share) $ 0.99 $ 0.26 $ 1.20 $ 0.60
Diluted (in dollars per share) $ 0.98 $ 0.25 $ 1.20 $ 0.60
Weighted-average common shares outstanding:        
Basic (in shares) 48,304 47,939 48,217 47,773
Diluted (in shares) 48,544 48,143 48,487 48,059
Cash dividends declared per common share (in dollars per share) $ 0.18 $ 0.18 $ 0.36 $ 0.36
Retail Segment        
Net sales:        
Retail clothing product $ 649,190 $ 530,728 $ 1,316,052 $ 963,752
Rental services 157,049 161,096 260,178 262,759
Alteration and other services 52,674 44,598 106,954 83,560
Total net sales 858,913 736,422 1,683,184 1,310,071
Cost of sales:        
Retail clothing product 282,050 243,354 576,434 434,831
Rental services 25,351 26,228 41,435 41,545
Alteration and other services 37,118 32,899 73,268 60,621
Occupancy costs 114,255 95,423 227,351 168,270
Total cost of sales 458,774 397,904 918,488 705,267
Gross margin:        
Retail clothing product 367,140 287,374 739,618 528,921
Rental services 131,698 134,868 218,743 221,214
Alteration and other services 15,556 11,699 33,686 22,939
Occupancy costs (114,255) (95,423) (227,351) (168,270)
Total gross margin 400,139 338,518 764,696 604,804
Operating income 95,677 39,744 149,710 66,269
Corporate Apparel Segment        
Net sales:        
Total net sales 61,161 66,656 121,979 123,481
Cost of sales:        
Total cost of sales 42,619 46,632 86,442 86,379
Gross margin:        
Total gross margin 18,542 20,024 35,537 37,102
Operating income $ 2,446 $ 2,960 $ 3,702 $ 3,716