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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Feb. 02, 2013
Jan. 28, 2012
Jan. 29, 2011
NET SALES $ 1,049,313 [1] $ 979,852 [1] $ 858,128 [1]
Cost of goods sold 437,551 371,577 320,585
GROSS PROFIT 611,762 608,275 537,543
OPERATING EXPENSES:      
Sales and marketing, including occupancy costs 409,150 372,268 326,464
General and administrative 74,172 76,600 69,472
Total operating expenses 483,322 448,868 395,936
OPERATING INCOME 128,440 [2] 159,407 [2] 141,607 [2]
OTHER INCOME (EXPENSE):      
Interest income 429 347 589
Interest expense (26) (312) (136)
Total other income (expense) 403 35 453
Income before provision for income taxes 128,843 159,442 142,060
Provision for income taxes 49,147 61,951 56,261
NET INCOME $ 79,696 $ 97,491 $ 85,799
Earnings per share:      
Basic (in dollars per share) $ 2.86 $ 3.51 $ 3.11
Diluted (in dollars per share) $ 2.84 [3] $ 3.49 $ 3.08
Weighted average shares outstanding:      
Basic (in shares) 27,901 27,757 27,553
Diluted (in shares) 28,013 27,961 27,851
[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 $13.0 million, $17.9 million and $20.8 million for fiscal years 2010, 2011 and 2012, 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.