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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Jan. 28, 2012
Jan. 29, 2011
Jan. 30, 2010
Net sales $ 979,852 [1] $ 858,128 [1] $ 770,316 [1]
Cost of goods sold 371,577 320,585 298,193
Gross profit 608,275 537,543 472,123
Operating expenses:      
Sales and marketing, including occupancy costs 372,268 326,464 293,663
General and administrative 76,600 69,472 61,057
Total operating expenses 448,868 395,936 354,720
Operating income 159,407 [2] 141,607 [2] 117,403 [2]
Other income (expense):      
Interest income 347 589 375
Interest expense (312) (136) (395)
Total other income (expense) 35 453 (20)
Income before provision for income taxes 159,442 142,060 117,383
Provision for income taxes 61,951 56,261 46,228
Net income $ 97,491 $ 85,799 $ 71,155
Earnings per share:      
Basic $ 3.51 $ 3.11 $ 2.59
Diluted $ 3.49 [3] $ 3.08 [3] $ 2.56
Weighted average shares outstanding:      
Basic 27,757 27,553 27,452
Diluted 27,961 27,851 27,785
[1] Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent catalog call center and Internet sales. Net sales from segments below the GAAP quantitative thresholds are attributable primarily to our two other operating segments. Those segments are Outlet and Factory stores and Franchise stores. These segments have never met any of the quantitative thresholds for determining reportable segments and are included in “Corporate and Other.”
[2] Operating income (loss) for the Stores and Direct Marketing segments represents profit before allocations of overhead from the corporate office and the distribution centers, interest and income taxes (“four wall” contribution). Total Company shipping costs to customers of approximately $9.7 million, $13.0 million and $17.9 million for fiscal years 2009, 2010 and 2011, respectively, were recorded to “Sales and marketing, including occupancy costs” in the Consolidated Statements of Income. Operating income (loss) for “Corporate and Other” consists primarily of costs included in general and administrative costs and operating income or loss related to the Outlet and Factory stores and the Franchise stores operating segments. Total operating income represents profit before interest and income taxes.
[3] Per common share amounts for the quarters and the full year have been calculated separately. Accordingly, quarterly amounts may not add to the full year amount because of the effects of rounding.