JCPenney 2013 Annual Report Download - page 26
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(in millions, except per share data)
Adjusted operating income/(loss) (non-GAAP) (3)
As a percent of sales
Adjusted net income/(loss) (non-GAAP)(3)
Adjusted diluted EPS (non-GAAP)(3)
(1) Includes the effect of the 53rd week in 2012. Excluding sales of $163million for the 53rd week in 2012, total net sales decreased25.7% in
2013 and 2012, respectively.
(2) Comparable store sales are presented on a 52-week basis and include sales from new and relocated stores that have been opened for 12 consecutive
full fiscal months and Internet sales. Stores closed for an extended period are not included in comparable store sales calculations, while stores
remodeled and minor expansions not requiring store closures remain in the calculations. Our definition and calculation of comparable store sales may
differ from other companies in the retail industry.
(3) See Item 6, Selected Financial Data, for a discussion of this non-GAAP financial measure and reconciliation to its most directly comparable GAAP
financial measure.
(4) Weighted average shares–diluted of 220.7 million was used for this calculation as adjusted net income/loss was positive. 3.3 million shares were added
to weighted average shares–basic of 217.4 million for assumed dilution for stock options, restricted stock awards and stock warrant.