EX-99 7 e992.txt Exhibit 99.2 Selected Financial Data ITEM 6 SELECTED FINANCIAL DATA The following tables sets forth the selected financial data for the Company and should be read in conjunction with the Consolidated Financial Statements and Notes thereto included elsewhere herein. SELECTED FINANCIAL DATA (UNAUDITED) (dollar amounts in thousands, except per share amounts)
Year ended Feb. 1, 2003 Feb. 2, 2002 Feb. 3, 2001 Jan. 29, 2000 Jan. 30, 1999 -------------------------------------------------------------------------------------------------------------------------------- STATEMENT OF OPERATIONS DATA Merchandise sales $ 1,697,628 $ 1,707,190 $ 1,891,046 $ 1,887,771 $ 1,932,063 Service revenue 400,149 403,505 444,233 424,717 393,669 Total revenues 2,097,777 2,110,695 2,335,279 2,312,488 2,325,732 Gross profit from merchandise sales 514,490 (1) 500,037 (2) 436,033 (3) 520,228 476,893 (4) Gross profit from service revenue 102,056 (1) 101,053 (2) 78,243 (3) 82,295 77,856 Total gross profit 616,546 (1) 601,090 (2) 514,276 (3) 602,523 554,749 (4) Selling, general and administrative expenses 504,163 (1) 497,798 (2) 542,048 (3) 512,434 503,254 (4) Operating profit (loss) 112,383 (1) 103,292 (2) (27,772) (3) 90,089 51,495 (4) Non-operating income 3,097 4,623 7,314 2,327 2,145 Interest expense 47,237 53,709 59,718 51,557 48,930 Earnings (loss) from continuing operations before income taxes 68,243 (1) 54,206 (2) (80,176) (3) 40,859 4,710 (4) Net earnings (loss) from continuing operations 42,992 (1) 34,693 (2) (50,929) (3) 26,625 3,215 (4) Net earnings (loss from discontinued operations, net of tax 808 642 (165) 2,678 1,759 Net earnings (loss) 43,800 (1) 35,335 (2) (51,094) (3) 29,303 4,974 (4) BALANCE SHEET DATA Working capital $ 130,680 $ 115,201 $ 122,741 $ 185,206 $ 251,935 Current ratio 1.24 to 1 1.21 to 1 1.22 to 1 1.35 to 1 1.51 to 1 Merchandise inventories $ 488,882 $ 519,473 $ 547,735 $ 582,898 $ 527,397 Property and equipment - net 1,030,486 1,058,842 1,134,164 1,273,446 1,269,953 Total assets 1,799,910 1,806,135 1,898,084 2,064,948 2,089,993 Long-term debt (includes all convertible debt) 525,577 544,418 654,194 784,024 691,714 Stockholders' equity 649,992 617,790 594,766 658,284 811,784 DATA PER COMMON SHARE Basic earnings (loss) from continuing operations $ .83 (1) $ .68 (2) $ (1.00) (3) $ .53 $ .05 (4) Basic earnings (loss) .85 (1) .69 (2) (1.00) (3) .58 .08 (4) Diluted earnings (loss) from continuing operations .80 (1) .67 (2) (1.00) (3) .53 .05 (4) Diluted earnings (loss) .82 (1) .68 (2) (1.00) (3) .58 .08 (4) Cash dividends .27 .27 .27 .27 .26 Stockholders' equity 12.59 12.01 11.60 12.91 13.18 Common share price range: high 19.38 18.48 7.69 21.63 26.69 low 8.75 4.40 3.31 7.13 12.38 OTHER STATISTICS Return on average stockholders' equity 6.9% 5.8% (8.2)% 4.0% 0.6% Common shares issued and outstanding 51,644,578 51,430,861 51,260,663 50,994,099 61,615,140 Capital expenditures $ 43,911 $ 25,375 $ 57,336 $ 104,446 $ 167,876 Number of retail outlets 629 628 628 662 638 Number of service bays 6,527 6,507 6,498 6,895 6,608 ----------------------------------------------------------------------------------------------------------------------------------
(1) Includes pretax charges of $2,529 related to the Profit Enhancement Plan of which $2,014 reduced gross profit from merchandise sales, $491 reduced gross profit from service revenue and $24 was included in selling, general and administrative expenses. (2) Includes pretax charges of $5,197 related to the Profit Enhancement Plan of which $4,169 reduced gross profit from merchandise sales, $813 reduced gross profit from service revenue and $215 was included in selling, general and administrative expenses. (3) Includes pretax charges of $74,945 related to the Profit Enhancement Plan of which $67,085 reduced the gross profit from merchandise sales, $5,232 reduced gross profit from service revenue and $2,628 was included in selling, general and administrative expenses. (4) Includes pretax charges of $29,451 ($20,109 net of tax or $.33 per share-basic and diluted), $27,733 of which reduced gross profit from merchandise sales with the remaining $1,718 included in selling, general and administrative expenses. These charges were associated with the closure and sale of 109 Express stores.