Pep Boys 2005 Annual Report Download - page 17

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12
ITEM 6 SELECTED FINANCIAL DATA
The following tables set forth the selected financial data for the Company and should be read in conjunction with the
Consolidated Financial Statements and Notes thereto included elsewhere herein.
(dollar amounts are in thousands, except share data)
Year ended
Jan. 28,
2006
Jan. 29,
2005
Jan. 31,
2004
Feb. 1,
2003
Feb. 2,
2002
STATEMENT OF OPERATIONS DATA
Merchandise sales $ 1,852,067 $ 1,860,628 $ 1,726,010 $ 1,695,275 $ 1,704,841
Service revenue 383,159 409,346 405,309 399,553 402,928
Total revenues 2,235,226 2,269,974 2,131,319 2,094,828 2,107,769
Gross profit from merchandise sales 480,872 528,900(2) 485,207(3) 508,871(4) 493,459(5)
Gross profit from service revenue 30,446 92,694 94,659(3) 100,182(4) 99,232(5)
Total gross profit 511,318 621,594(2) 579,866(3) 609,053(4) 592,691(5)
Selling, general and administrative expenses 522,501(1) 546,808(2) 569,288(3) 503,645(4) 497,284(5)
Operating (loss) profit (11,183)(1) 74,786(2) 10,578(3) 105,407(4) 95,407(5)
Non-operating income 3,897 1,824 3,340 3,097 4,623
Interest expense 49,040 35,965 38,255 47,237 53,709
(Loss) earnings from continuing operations before income taxes
and cumulative effect of change in accounting principle (56,326)(1) 40,645(2) (24,337)(3) 61,267(4) 46,321(5)
Net (loss) earnings from continuing operations before cumulative
effect of change in accounting principle (35,773)(1) 25,455(2) (15,383)(3) 38,393(4) 29,765(5)
Discontinued operations, net of tax 266 (1,876) (16,027) 1,075 602
Cumulative effect of change in accounting principle, net of tax (2,021) — (2,484) — —
Net (loss) earnings (37,528)(1) 23,579(2) (33,894)(3) 39,468(4) 30,367(5)
BALANCE SHEET DATA
Working capital $ 247,526$ 180,651$ 76,227$ 130,680$ 115,201
Current ratio 1.43 to 1 1.27 to 1 1.10 to 1 1.24 to 1 1.21 to 1
Merchandise inventories $ 616,292$ 602,760$ 553,562$ 488,882$ 519,473
Property and equipment-net 947,389 945,031 923,209 974,673 1,008,697
Total assets 1,821,753 1,867,023 1,778,046 1,741,650 1,755,990
Long-term debt (includes all convertible debt) 586,239 471,682 408,016 525,577 544,418
Total stockholders’ equity 594,565 653,456 569,734 605,880 578,010
DATA PER COMMON SHARE
Basic (loss) earnings from continuing operations before cumulative
effect of change in accounting principle $ (0.65)(1) $ 0.45(2) $ (0.29)(3) $ 0.75(4) $ 0.58(5)
Basic (loss) earnings (0.69)(1) 0.42(2) (0.65)(3) 0.77(4) 0.59(5)
Diluted (loss) earnings from continuing operations before
cumulative effect of change in accounting principle (0.65)(1) 0.44(2) (0.29)(3) 0.72(4) 0.57(5)
Diluted net (loss) earnings (0.69)(1) 0.41(2) (0.65)(3) 0.74(4) 0.58(5)
Cash dividends declared 0.27 0.27 0.27 0.27 0.27
Stockholders’ equity 10.97 11.87 10.79 11.73 11.24
Common share price range:
High 18.80 29.37 23.99 19.38 18.48
Low 11.75 11.83 6.00 8.75 4.40
OTHER STATISTICS
Return on average stockholders’ equity (6.0)% 3.9% (5.8)% 6.7% 5.3%
Common shares issued and outstanding 54,208,803 55,056,641 52,787,148 51,644,578 51,430,861
Capital expenditures $ 92,083 $ 103,766 $ 43,262 $ 43,911 $ 25,375
Number of retail outlets 593 595 595 629 628
Number of service bays 6,162 6,181 6,181 6,527 6,507
(1) Includes a pretax charge of $4,200 related to an asset impairment charge reflecting the remaining value of a commercial sales software
asset, which was included in selling, general and administrative expenses.
(2) Includes a pretax charge of $6,911 related to certain executive severance obligations, which was included in selling, general and
administrative expenses, and a pretax gain of $12,695 on the disposal of one of the Company’s distribution centers, which was
included in gross profit from merchandise sales.
(3) Includes pretax charges of $88,980 related to corporate restructuring and other one-time events of which $29,308 reduced gross profit
from merchandise sales, $3,278 reduced gross profit from service revenue and $56,394 was included in selling, general and
administrative expenses.
(4) Includes pretax charges of $2,529 related to the Profit Enhancement Plan of which $2,014 reduced the gross profit from merchandise
sales, $491 reduced gross profit from service revenue and $24 was included in selling, general and administrative expenses.
(5) Includes pretax charges of $5,197 related to the Profit Enhancement Plan of which $4,169 reduced the gross profit from merchandise
sales, $813 reduced gross profit from service revenue and $215 was included in selling, general and administrative expenses.