Ross 2008 Annual Report Download - page 22

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20
ITEM 6. SELECTED FINANCIAL DATA.
The following selected financial data is derived from our consolidated financial statements. The data set forth below should
be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” the
section “Forward-Looking Statements” in this Annual Report on Form 10−K and our consolidated financial statements and
notes thereto.
($000, except per share data) 2008 2007 20061 2005 2004
Operations
Sales $ 6,486,139 $ 5,975,212 $ 5,570,210 $ 4,944,179 $ 4,239,990
Cost of goods sold 4,956,576 4,618,220 4,317,527 3,852,591 3,286,604
Percent of sales 76.4% 77.3% 77.5% 77.9% 77.5%
Selling, general and administrative 1,034,357 935,901 863,033 766,144 657,668
Percent of sales 16.0% 15.7% 15.5% 15.5% 15.5%
Impairment of long-lived assets2 — — — — 15,818
Interest (income) expense, net (157) (4,029) (8,627) (2,898) 915
Earnings before taxes 495,363 425,120 398,277 328,342 278,985
Percent of sales 7.6% 7.1% 7.2% 6.6% 6.6%
Provision for taxes on earnings 189,922 164,069 156,643 128,710 109,083
Net earnings 305,441 261,051 241,634 199,632 169,902
Percent of sales 4.7% 4.4% 4.3% 4.0% 4.0%
Basic earnings per share $ 2.36 $ 1.93 $ 1.73 $ 1.38 $ 1.15
Diluted earnings per share $ 2.33 $ 1.90 $ 1.70 $ 1.36 $ 1.13
Cash dividends declared
per common share $ .395 $ .320 $ .255 $ .220 $ .178
1 Fiscal 2006 was a 53-week year; all other fiscal years presented were 52 weeks.
2 For the year ended January 29, 2005, the Company recognized a net impairment charge of $15.8 million on its previously owned corporate headquarters
in Newark, California.