Rue 21 2010 Annual Report Download - page 50

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders of rue21, inc. and subsidiary
We have audited the accompanying consolidated balance sheets of rue21, inc. and subsidiary as of January 29,
2011 and January 30, 2010, and the related consolidated statements of income, stockholders’ equity, and cash flows
for each of the three years in the period ended January 29, 2011. These financial statements are the responsibility of
the Company’s management. Our responsibility is to express an opinion on these financial statements based on our
audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
consolidated financial position of rue21, inc. and subsidiary at January 29, 2011 and January 30, 2010, and the
consolidated results of their operations and their cash flows for each of the three years in the period ended
January 29, 2011, in conformity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), rue21, inc. and subsidiary’s internal control over financial reporting as of January 29, 2011, based
on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Orga-
nizations of the Treadway Commission and our report dated March 29, 2011 expressed an unqualified opinion
thereon.
/s/ ERNST &YOUNG LLP
Pittsburgh, Pennsylvania
March 29, 2011
46