Saks Fifth Avenue 2010 Annual Report Download - page 20

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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 29,
2011
January 30,
2010
January 31,
2009
February 2,
2008
February 3,
2007*
CONSOLIDATED INCOME STATEMENT DATA:
Net sales ................................................... $2,785,745 $2,631,532 $3,043,438 $3,237,275 $2,900,383
Cost of sales (excluding depreciation and amortization) .............. 1,668,487 1,668,097 2,062,494 1,972,251 1,780,127
Gross margin ........................................... 1,117,258 963,435 980,944 1,265,024 1,120,256
Selling, general and administrative expenses ...................... 715,951 674,306 784,510 840,823 811,248
Other operating expenses ...................................... 298,124 314,266 320,683 317,046 312,486
Impairments and dispositions .................................. 13,085 29,348 11,139 4,279 11,775
Operating income (loss) ................................... 90,098 (54,485) (135,388) 102,876 (15,253)
Interest expense ............................................. (56,725) (49,480) (45,739) (48,303) (55,693)
Gain (loss) on extinguishment of debt ............................ (4) 783 — (5,634) 7
Other income, net ............................................ 117 1,019 5,600 24,912 28,407
Income (loss) from continuing operations before income taxes .... 33,486 (102,163) (175,527) 73,851 (42,532)
Provision (benefit) for income taxes ............................. (13,910) (44,501) (48,902) 26,755 (34,947)
Income (loss) from continuing operations ......................... 47,396 (57,662) (126,625) 47,096 (7,585)
Discontinued operations:
Income (loss) from discontinued operations before income taxes ....... 693 (395) (52,727) (4,860) 188,227
Provision (benefit) for income taxes ............................. 243 (138) (20,548) (1,646) 130,536
Income (loss) from discontinued operations ................... 450 (257) (32,179) (3,214) 57,691
Net Income (loss) ........................................ $ 47,846 $ (57,919) $ (158,804) $ 43,882 $ 50,106
Basic earnings per common share:
Income (loss) from continuing operations ..................... $ .31 $ (.40) $ (.93) $ .33 $ (.06)
Income (loss) from discontinued operations ................... $ — $ — $ (.23) $ (.02) $ .43
Net income (loss) ........................................ $ .31 $ (.40) $ (1.15) $ .31 $ .37
Diluted earnings per common share:
Income (loss) from continuing operations ..................... $ .30 $ (.40) $ (.92) $ .31 $ (.06)
Income (loss) from discontinued operations ................... $ — $ — $ (.23) $ (.02) $ .43
Net income (loss) ........................................ $ .30 $ (.40) $ (1.15) $ .29 $ .37
Weighted average common shares:
Basic .................................................. 154,325 143,194 138,384 140,402 135,880
Diluted ................................................ 158,413 143,194 138,384 153,530 135,880
CONSOLIDATED BALANCE SHEET DATA:
Working capital ............................................. $ 578,862 $ 546,169 $ 503,952 $ 345,097 $ 388,061
Total assets ................................................. $2,143,100 $2,135,701 $2,147,677 $2,350,744 $2,521,211
Long-term debt, less current portion ............................. $ 359,250 $ 493,330 $ 593,103 $ 204,238 $ 394,498
Shareholders’ equity ......................................... $1,163,565 $1,071,610 $ 990,586 $1,204,434 $1,128,559
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.
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