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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Apr. 28, 2012
Apr. 30, 2011
Net sales $ 201,354 [1] $ 193,270 [1]
Cost of goods sold 73,593 67,957
Gross profit 127,761 125,313
Operating expenses:    
Sales and marketing, including occupancy costs 85,762 78,852
General and administrative 17,591 17,424
Total operating expenses 103,353 96,276
Operating income 24,408 [2] 29,037 [2]
Other income (expense):    
Interest income 68 132
Interest expense (12) (3)
Total other income (expense) 56 129
Income before provision for income taxes 24,464 29,166
Provision for income taxes 9,632 11,356
Net income $ 14,832 $ 17,810
Earnings per share:    
Basic $ 0.53 $ 0.64
Diluted $ 0.53 $ 0.64
Weighted average shares outstanding:    
Basic 27,831 27,622
Diluted 27,995 27,928
[1] Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent catalog call center and Internet sales. Net sales from operating segments below the GAAP quantitative thresholds are attributable primarily to our two other operating segments -- Outlet and Factory stores and Franchise stores. These operating 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 $2.9 million and $2.8 million for the first quarter of fiscal years 2011 and 2012, respectively, were recorded to “Sales and marketing, including occupancy costs” in the Condensed 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.