Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 30, 2016
Aug. 01, 2015
Jul. 30, 2016
Aug. 01, 2015
Net sales:        
Total net sales $ 909,684 $ 920,074 $ 1,738,506 $ 1,805,163
Cost of sales:        
Total cost of sales 499,380 501,393 976,361 1,004,930
Gross margin:        
Total gross margin 410,304 418,681 762,145 800,233
Advertising expense 44,963 44,981 92,891 95,637
Selling, general and administrative expenses 305,709 275,577 578,628 551,184
Operating income (loss) 59,632 98,123 90,626 153,412
Interest income 37 62 50 90
Interest expense (25,876) (26,535) (52,377) (53,018)
Loss on extinguishment of debt, net (71)   (71) (12,675)
Earnings (loss) before income taxes 33,722 71,650 38,228 87,809
Provision for income taxes 8,747 23,871 11,616 29,661
Net earnings (loss) $ 24,975 $ 47,779 $ 26,612 $ 58,148
Net earnings per common share allocated to common shareholders:        
Basic (in dollars per share) $ 0.51 $ 0.99 $ 0.55 $ 1.20
Diluted (in dollars per share) $ 0.51 $ 0.98 $ 0.55 $ 1.20
Weighted-average common shares outstanding:        
Basic (in shares) 48,609 48,304 48,527 48,217
Diluted (in shares) 48,639 48,544 48,630 48,487
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 $ 615,946 $ 649,190 $ 1,231,614 $ 1,316,052
Rental services 165,009 157,049 264,840 260,178
Alteration and other services 49,226 52,674 99,969 106,954
Total net sales 830,181 858,913 1,596,423 1,683,184
Cost of sales:        
Retail clothing product 277,882 282,050 548,237 576,434
Rental services 27,101 25,351 42,985 41,435
Alteration and other services 34,409 37,118 70,559 73,268
Occupancy costs 108,615 114,255 218,750 227,351
Total cost of sales 448,007 458,774 880,531 918,488
Gross margin:        
Retail clothing product 338,064 367,140 683,377 739,618
Rental services 137,908 131,698 221,855 218,743
Alteration and other services 14,817 15,556 29,410 33,686
Occupancy costs (108,615) (114,255) (218,750) (227,351)
Total gross margin 382,174 400,139 715,892 764,696
Corporate Apparel Segment        
Net sales:        
Total net sales 79,503 61,161 142,083 121,979
Cost of sales:        
Total cost of sales 51,373 42,619 95,830 86,442
Gross margin:        
Total gross margin $ 28,130 $ 18,542 $ 46,253 $ 35,537