Saks Fifth Avenue 2009 Annual Report Download - page 23

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Table of Contents
Item 6. Selected Financial Data.
The selected financial data set forth below should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results
of Operations, the Company’s Consolidated Financial Statements and notes thereto and the other information contained elsewhere in this Form 10-K.
Year Ended
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
January 30,
2010
January 31,
2009
(Revised)**
February 2,
2008
(Revised)**
February 3,
2007*
(Revised)**
January 28,
2006
(Revised)**
CONSOLIDATED INCOME STATEMENT DATA:
Net sales $ 2,631,532 $ 3,043,438 $ 3,237,275 $ 2,900,383 $ 2,741,295
Cost of sales (excluding depreciation and amortization) 1,668,097 2,062,494 1,972,251 1,780,127 1,731,142
Gross margin 963,435 980,944 1,265,024 1,120,256 1,010,153
Selling, general and administrative expenses 674,306 784,510 840,823 811,248 822,188
Other operating expenses 314,266 320,683 317,046 312,486 317,760
Impairments and dispositions 29,348 11,139 4,279 11,775 (8,349)
Operating income (loss) (54,485) (135,388) 102,876 (15,253) (121,446)
Interest expense (49,480) (45,739) (48,303) (55,693) (82,539)
Gain (loss) on extinguishment of debt 783 — (5,634) 7 (29,375)
Other income, net 1,019 5,600 24,912 28,407 7,705
Income (loss) from continuing operations before income taxes (102,163) (175,527) 73,851 (42,532) (225,655)
Provision (benefit) for income taxes (44,501) (48,902) 26,755 (34,947) (92,062)
Income (loss) from continuing operations (57,662) (126,625) 47,096 (7,585) (133,593)
Discontinued operations:
Income (loss) from discontinued operations before income taxes (395) (52,727) (4,860) 188,227 314,943
Provision (benefit) for income taxes (138) (20,548) (1,646) 130,536 163,241
Income (loss) from discontinued operations (257) (32,179) (3,214) 57,691 151,702
Net Income (loss) $ (57,919) $ (158,804) $ 43,882 $ 50,106 $ 18,109
Basic earnings per common share:
Income (loss) from continuing operations $ (.40) $ (.93) $ .33 $ (.06) $ (.97)
Income (loss) from discontinued operations $ — $ (.23) $ (.02) $ .43 $ 1.10
Net income (loss) $ (.40) $ (1.15) $ .31 $ .37 $ .13
Diluted earnings per common share:
Income (loss) from continuing operations $ (.40) $ (.92) $ .31 $ (.06) $ (.97)
Income (loss) from discontinued operations $ — $ (.23) $ (.02) $ .43 $ 1.10
Net income (loss) $ (.40) $ (1.15) $ .29 $ .37 $ .13
Weighted average common shares:
Basic 143,194 138,384 140,402 135,880 138,348
Diluted 143,194 138,384 153,530 135,880 138,348
CONSOLIDATED BALANCE SHEET DATA:
Working capital $ 546,169 $ 503,952 $ 345,097 $ 388,061 $ 799,601
Total assets $ 2,135,701 $ 2,147,677 $ 2,350,744 $ 2,521,211 $ 3,825,247
Long-term debt, less current portion $ 493,330 $ 593,103 $ 204,238 $ 394,498 $ 661,202
Shareholders' equity $ 1,071,610 $ 990,586 $ 1,204,434 $ 1,128,559 $ 2,035,439
Cash dividends (per share) $ — $ — $ — $ 8.00 $ —
* The year ended February 3, 2007 includes an extra week, creating a 53-week fiscal year that occurs every six years in the accounting cycle.
** Prior year amounts have been revised to reflect the retrospective application of adopting a new accounting pronouncement relating to convertible debt.
Amounts have also been revised to reflect all shipping and handling revenue in Net Sales. See Note 2 to the consolidated financial statements for further
discussion.
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Source: SAKS INC, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠