American Eagle Outfitters 2011 Annual Report Download - page 20

Table of Contents
For the Years Ended(1)
January 28,
2012
January 29,
2011
January 30,
2010
January 31,
2009
February 2,
2008
(In thousands, except per share amounts, ratios and other financial information)
Other Financial Information(2)
Total stores at year-end 1,090 1,086 1,075 1,070 968
Capital expenditures $ 100,135 $ 84,259 $ 127,080 $ 243,564 $ 249,640
Net sales per average selling square foot(4) $ 545 $ 524 $ 526 $ 563 $ 644
Total selling square feet at end of period 5,115,770 5,067,489 4,981,595 4,920,285 4,492,198
Net sales per average gross square foot(4) $ 436 $ 420 $ 422 $ 452 $ 522
Total gross square feet at end of period 6,398,034 6,339,469 6,215,355 6,139,663 5,581,769
Number of employees at end of period 39,600 39,900 38,800 36,900 38,400
(1) All fiscal years presented include 52 weeks.
(2) All amounts presented are from continuing operations and exclude MARTIN+OSA's results of operations for all periods. Refer to Note 15 to the
accompanying Consolidated Financial Statements for additional information regarding the discontinued operations of MARTIN+OSA.
(3) The comparable store sales increase for the period ended February 2, 2008 is compared to the corresponding 52 week period in Fiscal 2006.
(4) Net sales per average square foot is calculated using retail store sales for the year divided by the straight average of the beginning and ending square
footage for the year.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The following discussion and analysis of financial condition and results of operations are based upon our Consolidated Financial Statements and
should be read in conjunction with those statements and notes thereto.
This report contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which represent our expectations or beliefs concerning future events, including the
following:
• the planned opening of approximately 14 new American Eagle stores and one new 77kids store during Fiscal 2012;
• the selection of approximately 100 American Eagle stores in the United States and Canada for remodeling and refurbishing during Fiscal 2012;
• the potential closure of approximately 20 to 30 American Eagle stores in the United States and Canada during Fiscal 2012;
• the planned opening of approximately 31 new franchised American Eagle stores during Fiscal 2012;
• the success of aerie by American Eagle and aerie.com;
• the success of 77kids by american eagle and 77kids.com;
• the expected payment of a dividend in future periods;
• the possibility of engaging in future franchise agreements, growth through acquisitions, and/or internally developing additional new brands;
• the possibility that our credit facilities may not be available for future borrowings;
• the possibility that rising prices of raw materials, labor, energy and other inputs to our manufacturing process, if unmitigated, will continue to have a
significant impact to our profitability; and
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