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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jul. 28, 2012
Jul. 30, 2011
Jul. 28, 2012
Jul. 30, 2011
Net sales $ 260,343 [1] $ 230,662 [1] $ 461,697 [1] $ 423,932 [1]
Cost of goods sold 107,457 86,755 181,050 154,712
Gross profit 152,886 143,907 280,647 269,220
Operating expenses:        
Sales and marketing, including occupancy costs 96,190 88,120 181,952 166,972
General and administrative 19,580 21,189 37,171 38,613
Total operating expenses 115,770 109,309 219,123 205,585
Operating income 37,116 [2] 34,598 [2] 61,524 [2] 63,635 [2]
Other income (expense):        
Interest income 101 83 169 215
Interest expense (5) (18) (17) (21)
Total other income (expense) 96 65 152 194
Income before provision for income taxes 37,212 34,663 61,676 63,829
Provision for income taxes 14,054 14,109 23,686 25,465
Net income $ 23,158 $ 20,554 $ 37,990 $ 38,364
Earnings per share:        
Basic (in dollars per share) $ 0.83 $ 0.74 $ 1.36 $ 1.39
Diluted (in dollars per share) $ 0.83 $ 0.74 $ 1.36 $ 1.37
Weighted average shares outstanding:        
Basic (in shares) 27,885 27,749 27,858 27,686
Diluted (in shares) 28,004 27,958 28,000 27,944
[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 (except order fulfillment costs which are allocated to Direct Marketing), interest and income taxes (“four wall” contribution). Total Company shipping costs to customers of approximately $4.4 million and $5.0 million for the second quarter of fiscal years 2011 and 2012 , respectively, and approximately $7.3 million and $7.8 million for the first six months 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.