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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Feb. 01, 2014
Feb. 02, 2013
Jan. 28, 2012
NET SALES $ 1,032,166 [1] $ 1,049,313 [1] $ 979,852 [1]
Cost of goods sold 435,578 437,551 371,577
GROSS PROFIT 596,588 611,762 608,275
OPERATING EXPENSES:      
Sales and marketing, including occupancy costs 416,469 409,150 372,268
General and administrative 78,093 74,172 76,600
Total operating expenses 494,562 483,322 448,868
OPERATING INCOME 102,026 [2] 128,440 [2] 159,407 [2]
OTHER INCOME (EXPENSE):      
Interest income 393 429 347
Interest expense (44) (26) (312)
Total other income (expense) 349 403 35
Income before provision for income taxes 102,375 128,843 159,442
Provision for income taxes 39,049 49,147 61,951
NET INCOME $ 63,326 $ 79,696 $ 97,491
Earnings per share:      
Basic (in dollars per share) $ 2.26 $ 2.86 $ 3.51
Diluted (in dollars per share) $ 2.26 [3] $ 2.84 $ 3.49
Weighted average shares outstanding:      
Basic (in shares) 27,981 27,901 27,757
Diluted (in shares) 28,053 28,013 27,961
[1] Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent 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 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 $17.9 million, $20.8 million and $21.7 million for fiscal years 2011, 2012 and 2013, 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 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.