Petsmart 2012 Annual Report Download - page 30

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Item 6. Selected Financial Data
The following selected financial data is derived from our consolidated financial statements. The data below should be read
in conjunction with Item 7. “Management's Discussion and Analysis of Financial Condition and Results of Operations” and our
consolidated financial statements and notes thereto.
As of and for the Year Ended(1)
February 3,
2013 January 29, 2012 January 30, 2011 January 31, 2010 February 1, 2009
(53 weeks) (52 weeks) (52 weeks) (52 weeks) (52 weeks)
(In thousands, except per share amounts and operating data)
Selected Income Statement Data:
Net sales(2) .................................................... $ 6,758,237 $ 6,113,304 $ 5,693,797 $ 5,336,392 $ 5,065,293
Gross profit .................................................... 2,062,139 1,804,423 1,654,531 1,519,217 1,495,433
Operating, general and administrative
expenses......................................................... 1,410,922 1,301,304 1,225,803 1,150,138 1,125,579
Operating income........................................... 651,217 503,119 428,728 369,079 369,854
Interest expense, net....................................... (54,329) (56,842)(58,837)(59,748)(58,757)
Income before income tax expense and
equity income from Banfield ......................... 596,888 446,277 369,891 309,331 311,097
Income tax expense........................................ (223,329) (166,960)(140,396)(117,554)(121,019)
Equity income from Banfield......................... 15,970 10,926 10,372 6,548 2,592
Net income..................................................... $ 389,529 $ 290,243 $ 239,867 $ 198,325 $ 192,670
Earnings Per Common Share Data:
Basic........................................................... $ 3.61 $ 2.59 $ 2.05 $ 1.62 $ 1.55
Diluted........................................................ $ 3.55 $ 2.55 $ 2.01 $ 1.59 $ 1.52
Dividends declared per common share.......... $ 0.635 $ 0.545 $ 0.475 $ 0.33 $ 0.12
Weighted average shares outstanding:
Basic........................................................... 107,819 111,909 116,799 122,363 124,342
Diluted........................................................ 109,611 113,993 119,405 124,701 126,751
Selected Operating Data:
Stores open at end of period........................... 1,278 1,232 1,187 1,149 1,112
Square footage at end of period ..................... 27,831,435 27,247,399 26,617,162 25,876,510 25,102,528
Net sales per square foot(3) ........................... $ 242 $ 224 $ 214 $ 205 $ 208
Net sales growth............................................. 10.5% 7.4% 6.7% 5.4% 8.4%
Increase in comparable store sales(4) ............ 6.3% 5.4% 4.8% 1.6% 3.8%
Selected Balance Sheet Data:
Merchandise inventories................................ $ 679,090 $ 644,864 $ 615,841 $ 563,389 $ 584,011
Average inventory per store(5)...................... $ 531 $ 523 $ 519 $ 490 $ 525
Working capital.............................................. $ 562,244 $ 582,582 $ 550,124 $ 501,381 $ 396,677
Total assets..................................................... $ 2,536,981 $ 2,544,084 $ 2,470,220 $ 2,461,986 $ 2,357,653
Total debt(6)................................................... $ 526,159 $ 559,492 $ 566,829 $ 571,474 $ 585,993
Total stockholders' equity.............................. $ 1,123,592 $ 1,153,829 $ 1,170,642 $ 1,172,715 $ 1,144,136
Current ratio................................................... 1.74 1.86 1.96 1.89 1.83
Long-term debt-to-equity............................... 41% 44% 45% 46% 48%
Total debt-to-capital....................................... 32% 33% 33% 33% 34%