Ross 2011 Annual Report Download - page 44

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42
Sales mix. The Company’s sales mix is shown below for fiscal 2011, 2010, and 2009:
2011 2010 2009
Ladies 29% 29% 30%
Home Accents and Bed and Bath 25% 25% 24%
Men’s 13% 13% 13%
Accessories, Lingerie, Fine Jewelry, and Fragrances 13% 12% 13%
Shoes 12% 12% 11%
Children’s 8% 9% 9%
Total 100% 100% 100%
Comprehensive income. Comprehensive income consists of net earnings and other comprehensive income (loss), principally
unrealized investment gains or losses. Components of comprehensive income are presented in the consolidated statements of
stockholders’ equity.
New accounting standards. In May 2011, the FASB issued Accounting Standards Update No. 2011-04, “Fair Value
Measurements (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S.
GAAP and IFRSs,” (“ASU 2011-04”). ASU 2011-04 changes the wording used to describe many of the requirements in U.S.
GAAP for measuring fair value and for disclosing information about fair value measurements to ensure consistency between U.S.
GAAP and IFRS. ASU 2011-04 also expands the disclosures required for fair value measurements. ASU 2011-04 is to be applied
prospectively and is effective for the Company in fiscal 2012. The Company believes the adoption of this guidance will not have a
material impact on its consolidated financial statements.
In June 2011, the FASB issued Accounting Standards Update No. 2011-05, “Comprehensive Income (Topic 220): Presentation
of Comprehensive Income,” (“ASU 2011-05”). ASU 2011-05 eliminates the option to report other comprehensive income and its
components in the statement of changes in equity. ASU 2011-05 requires that all nonowner changes in stockholders’ equity be
presented in either a single continuous statement of comprehensive income or in two separate but consecutive statements. This
new guidance is to be applied retrospectively and is effective for the Company in fiscal 2012. The Company believes the adoption
of this guidance will not have a material impact on its consolidated financial position or results of operations.