Rue 21 2010 Annual Report Download - page 38

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Results of Operations
The following tables summarize key components of our results of operations for the periods indicated, both in
dollars and as a percentage of net sales:
January 29,
2011
January 30,
2010
January 31,
2009
Fiscal Year Ended
(In thousands, except operating data)
Net Sales ....................................... $634,728 $525,600 $391,414
Cost of goods sold ................................ 399,896 337,693 257,853
Gross profit ..................................... 234,832 187,907 133,561
Selling, general and administrative expenses ............. 163,006 134,078 99,886
Depreciation and amortization expense ................. 21,852 16,898 11,532
Income from operations ............................ 49,974 36,931 22,143
Interest expense, net ............................... 202 532 1,477
Income before income taxes ......................... 49,772 36,399 20,666
Provision for income taxes .......................... 19,528 14,382 8,027
Net income ..................................... $ 30,244 $ 22,017 $ 12,639
Operating Data (unaudited)
Number of stores open at the end of the period ........... 638 535 449
Gross square feet at the end of the period (in thousands) .... 2,989 2,390 1,949
Comparable store sales change ....................... 2.1% 7.8% 3.7%
January 29,
2011
January 30,
2010
January 31,
2009
Fiscal Year Ended
Net Sales ....................................... 100.0% 100.0% 100.0%
Cost of goods sold ................................ 63.0% 64.2% 65.9%
Gross profit ..................................... 37.0% 35.8% 34.1%
Selling, general and administrative expenses ............. 25.7% 25.5% 25.5%
Depreciation and amortization expense ................. 3.4% 3.2% 2.9%
Income from operations ............................ 7.9% 7.0% 5.7%
Interest expense, net ............................... 0.0% 0.1% 0.4%
Income before income taxes ......................... 7.8% 6.9% 5.3%
Provision for income taxes .......................... 3.1% 2.7% 2.1%
Net income ..................................... 4.8% 4.2% 3.2%
The approximate percentage of our net sales derived from our product categories, based on our internal
merchandising system, is as follows:
2010 2009 2008
Fiscal Year
Girls
Apparel ................................................ 55.9% 56.7% 58.3%
Accessories.............................................. 25.7% 24.3% 23.5%
Guys Apparel and Accessories ................................. 18.4% 19.0% 18.2%
Total . . .................................................. 100.0% 100.0% 100.0%
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