DSW 2011 Annual Report Download - page 25

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Table of Contents
Fiscal Year Ended January 28, 2012 ( Fiscal 2011 ) Compared to Fiscal Year Ended January 29, 2011 ( Fiscal 2010 )
Net Sales.
Sales for fiscal 2011 increased by 11.1% from fiscal 2010 . The following table summarizes the increase in our net sales:
The following table summarizes our sales by reportable segment and in total:
The following table summarizes our comparable sales change by reportable segment and in total:
The increase in comparable sales was primarily a result of an increase in transactions and units per transaction, as more customers
20
Fiscal years ended
January 28, 2012
January 29, 2011
January 30, 2010
Net sales
100.0
%
100.0
%
100.0
%
Cost of sales
(67.7
)
(69.0
)
(70.8
)
Gross profit
32.3
31.0
29.2
Operating expenses
(22.2
)
(21.7
)
(27.5
)
Change in fair value of derivative instruments
(2.6
)
(2.7
)
(4.2
)
Operating profit (loss)
7.5
6.6
(2.5
)
Interest expense, net
(0.5
)
(0.6
)
(0.7
)
Non-operating income (expense), net
—
0.1
(0.2
)
Income (loss) from continuing operations before income taxes
7.0
6.1
(3.4
)
Income tax benefit (provision)
2.9
(3.3
)
(0.7
)
Income (loss) from continuing operations
9.9
2.8
(4.1
)
Total (loss) income from discontinued operations, net of tax
(0.2
)
0.4
3.7
Net income (loss)
9.7
3.2
(0.4
)
Less: net income attributable to the noncontrolling interests
(1.1
)
(2.2
)
(1.2
)
Net income (loss), net of noncontrolling interests
8.6
%
1.0
%
(1.6
)%
Fiscal year ended January 28,
2012
(in millions)
Net sales for the fiscal year ended January 29, 2011
$
1,822.4
Increase in comparable sales
148.0
Net increase from non-comparable and closed store sales
53.9
Net sales for the fiscal year ended January 28, 2012
$
2,024.3
Fiscal years ended
January 28, 2012
January 29, 2011
(in millions)
DSW segment
$
1,871.9
$
1,680.9
Leased business division segment
152.4
141.5
Total DSW Inc.
$
2,024.3
$
1,822.4
Fiscal year ended
January 28, 2012
DSW segment
8.6
%
Leased business division segment
5.1
%
Total DSW Inc.
8.3
%