EX-12.1 4 a11-13042_1ex12d1.htm EX-12.1

Exhibit 12.1

 

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

(In thousands)

 

 

 

Fiscal Year Ended

 

 

 

January 29,
2011

 

January 30,
2010

 

January 31,
2009

 

February 2,
2008

 

February 3,
2007

 

Earnings (loss) before income taxes

 

$

(44,209

)

$

(45,975

)

$

(44,704

)

$

(3,876

)

$

91,567

 

Add:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

1,822

 

1,568

 

747

 

742

 

214

 

Rental expense factor (1)

 

32,557

 

34,636

 

35,342

 

29,809

 

29,021

 

Earnings available for fixed charges

 

$

(9,830

)

$

(9,771

)

$

(8,615

)

$

26,675

 

$

120,802

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

1,822

 

$

1,568

 

$

747

 

$

742

 

$

214

 

Rental expense factor (1)

 

32,557

 

34,636

 

35,342

 

29,809

 

29,021

 

Total fixed charges

 

$

34,379

 

$

36,204

 

$

36,089

 

$

30,551

 

$

29,235

 

Ratio of earnings to fixed charges

 

(0.29

)

(0.27

)

(0.24

)

0.87

 

4.13

 

 

(1)          “Rental expense factor” is the portion of rental expense estimated to be representative of the interest expense within rental expense under operating leases.

 

The ratio of earnings to fixed charges is computed by dividing income or loss before taxes plus fixed charges by fixed charges.  Fixed charges include interest expense, financing fees and an estimate of the interest expense within rent expense under operating leases.