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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
May 04, 2013
Apr. 28, 2012
Income Statement [Abstract]    
Net sales $ 196,055 [1] $ 201,354 [1]
Cost of goods sold 76,869 73,593
Gross profit 119,186 127,761
Operating expenses:    
Sales and marketing, including occupancy costs 88,701 85,762
General and administrative 17,532 17,591
Total operating expenses 106,233 103,353
Operating income 12,953 [2] 24,408 [2]
Other income (expense):    
Interest income 171 68
Interest expense (5) (12)
Total other income (expense) 166 56
Income before provision for income taxes 13,119 24,464
Provision for income taxes 5,031 9,632
Net income $ 8,088 $ 14,832
Earnings per share:    
Basic (in dollars per share) $ 0.29 $ 0.53
Diluted (in dollars per share) $ 0.29 $ 0.53
Weighted average shares outstanding:    
Basic (in shares) 27,965 27,831
Diluted (in shares) 28,047 27,995
[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 $2.8 million and $3.4 million for the first quarter of fiscal years 2012 and 2013 , 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.