Express 2014 Annual Report Download - page 29

ITEM 6. SELECTED FINANCIAL DATA.
SELECTED HISTORICAL CONSOLIDATED FINANCIAL AND OPERATING DATA
The following tables set forth our selected historical consolidated financial and operating data as of the dates and for
the periods indicated. The selected historical consolidated financial and operating data as of January 31, 2015 and
February 1, 2014 and for the years ended January 31, 2015, February 1, 2014, and February 2, 2013 are derived
from our audited Consolidated Financial Statements included elsewhere in this Annual Report on Form 10-K. The
selected historical consolidated financial data as of February 2, 2013, January 28, 2012, and January 29, 2011, and
the selected operating data for the periods ended January 28, 2012 and January 29, 2011 are derived from our
audited Consolidated Financial Statements, which are not included herein.
The following selected historical consolidated data presented should be read in conjunction with the sections entitled
“Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our
Consolidated Financial Statements and the related Notes and other financial data included elsewhere in this Annual Report
on Form 10-K.
Year Ended
2014 2013 2012* 2011 2010
(dollars in thousands, excluding net sales per gross square foot and per
share data)
Statement of Operations Data:
Net sales ...................................... $2,165,481 $2,219,125 $2,157,227 $2,080,459 $1,912,004
Cost of goods sold, buying and occupancy costs ....... 1,504,527 1,501,418 1,414,588 1,325,998 1,233,680
Gross profit .................................... 660,954 717,707 742,639 754,461 678,324
Selling, general, and administrative expenses ......... 524,041 504,277 491,599 483,823 461,073
Other operating (income) expense, net .............. 316 (829) (523) (308) 18,000
Operating income ............................... 136,597 214,259 251,563 270,946 199,251
Interest expense, net ............................. 23,896 19,522 19,552 35,792 59,477
Other expense (income), net ....................... 1,145 1,571 40 (411) (1,968)
Income before income taxes ....................... 111,556 193,166 231,971 235,565 141,742
Income tax expense (1) ........................... 43,231 76,627 92,704 94,868 14,354
Net income .................................... $ 68,325 $ 116,539 $ 139,267 $ 140,697 $ 127,388
Dividends declared per share ...................... $ — $ — $ — $ — $ 0.56
Earnings per share:
Basic ......................................... $ 0.81 $ 1.38 $ 1.60 $ 1.59 $ 1.49
Diluted ....................................... $ 0.81 $ 1.37 $ 1.60 $ 1.58 $ 1.48
Weighted average shares outstanding:
Basic ......................................... 84,144 84,466 86,852 88,596 85,369
Diluted ....................................... 84,554 85,068 87,206 88,896 86,050
Other Financial and Operating Data:
Comparable sales (2) ............................. (5)% 3% — % 6% 10%
Comparable sales (excluding e-commerce sales) (2) .... (7)% (1)% (3)% 3% 7%
Net sales per gross square foot (3) ................... $ 320 $ 338 $ 349 $ 355 $ 346
Total gross square feet (in thousands) (average) ....... 5,529 5,439 5,307 5,196 5,029
Number of stores (at year end) ..................... 641 632 625 609 591
Capital expenditures ............................. $ 115,088 $ 105,368 $ 99,674 $ 77,176 $ 54,843
Balance Sheet Data (at period end):
Cash and cash equivalents ........................ $ 346,159 $ 311,884 $ 256,297 $ 152,362 $ 187,762
Working capital (excluding cash and cash
equivalents) (4) ............................... 20,618 (27,630) (53,211) (31,536) (56,054)
Total assets .................................... 1,278,150 1,182,670 1,019,199 866,320 862,749
Total debt (including current portion) ............... 199,527 199,170 198,843 198,539 367,407
Total stockholders’ equity ........................ $ 556,339 $ 474,569 $ 371,162 $ 281,147 $ 130,162
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