Foreign currency translation

6 Months Ended

Jul. 28, 2012

Foreign currency translation

3. Foreign currency translation

The exchange rates used in these financial statements for the translation of UK pound sterling transactions and balances into US dollars are as follows:

	26 weeks ended July 28, 2012		52 weeks ended January 28, 2012		26 weeks ended July 30, 2011
Income statement (average rate)		1.58		1.60		1.62
Balance sheet (period end rate)		1.58		1.57		1.64

The year to date average exchange rate is used to prepare the income statement for the 26 weeks ended July 28, 2012 and is calculated from the weekly average exchange rates weighted by sales of the UK division. The income statement for the 13 weeks ended July 28, 2012 is calculated as the difference between the income statement for the 26 weeks ended July 28, 2012 and the previously reported income statement for the 13 weeks ended April 28, 2012. Therefore, the second quarter’s income statement includes the impact of the change in the year-to-date exchange rates between these quarter ends.