DSW 2010 Annual Report Download - page 29

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ITEM 6. SELECTED FINANCIAL DATA.
The following table sets forth, for the periods presented, various selected financial information. Such selected
consolidated financial data should be read in conjunction with our Consolidated Financial Statements, including the
notes thereto, set forth in Item 8 of this Annual Report on Form 10-K and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” set forth in Item 7 of this Annual Report on Form 10-K.
1/29/11 1/30/10 1/31/09 2/02/08 2/03/07
For the Fiscal Years Ended
(1)
(Dollars in thousands, except per share and net sales per average gross square
foot)
Statement of Income Data:
(2)
Net sales
(3)
....................... $1,822,376 $1,602,605 $1,462,944 $1,405,615 $1,279,060
Gross profit
(4)
..................... $ 565,681 $ 467,492 $ 379,099 $ 370,135 $ 366,351
Depreciation and amortization . ........ $ 47,825 $ 46,260 $ 36,336 $ 25,055 $ 20,686
Operating profit ................... $ 173,583 $ 93,455 $ 42,813 $ 81,321 $ 100,714
Net income....................... $ 107,624 $ 54,741 $ 26,902 $ 53,775 $ 65,464
Diluted earnings per share ............ $ 2.40 $ 1.23 $ 0.61 $ 1.21 $ 1.48
Balance Sheet Data:
Total assets....................... $1,008,897 $ 850,756 $ 721,197 $ 693,882 $ 608,303
Working capital
(5)
.................. $ 463,465 $ 382,271 $ 295,721 $ 282,717 $ 298,704
Current ratio
(6)
.................... 2.8 2.7 2.9 2.7 2.9
Total shareholders’ equity ............ $ 640,764 $ 524,881 $ 465,584 $ 433,480 $ 374,579
Long-term obligations . . ............. $ 0 $ 0 $ 0 $ 0 $ 0
Other Data:
Capital expenditures . . . ............. $ 52,298 $ 21,785 $ 80,974 $ 102,451 $ 42,407
Number of DSW stores:
(7)
Beginning of period . . ............. 305 298 259 223 199
New stores ................... 9 9 41 37 29
Closed/re-categorized stores
(7)
...... (3) (2) (2) (1) (5)
End of period ................... 311 305 298 259 223
Comparable DSW stores (units)
(8)
. . . . . 293 249 217 192 163
DSW total square footage
(9)
......... 6,972,049 6,839,975 6,749,690 6,142,685 5,534,243
Average gross square footage
(10)
. . . . 6,928,324 6,840,199 6,454,396 5,814,398 5,271,748
Net sales per average gross square
foot
(11)
..................... $ 228 $ 203 $ 196 $ 212 $ 218
Number of leased departments at end of
period. ........................ 352 356 377 378 360
Total comparable store sales change
(8)
. . . 13.2% 3.2% (5.9)% (0.8)% 2.5%
(1) See Note 14 for a discussion of the impact of the proposed merger on DSW’s consolidated financial
statements.
(2) Fiscal 2006 was based on a 53 week year. All other fiscal years are based on a 52 week year.
(3) Includes net sales of leased departments and dsw.com.
(4) Gross profit is defined as net sales less cost of sales. Cost of sales includes the cost of merchandise, which
includes markdowns and shrinkage. Also included in the cost of sales are expenses associated with ware-
housing (including depreciation), distribution and store occupancy (excluding depreciation and including
impairments).
(5) Working capital represents current assets less current liabilities.
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