Rue 21 2010 Annual Report Download - page 51

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rue21, inc. and subsidiary
Consolidated Balance Sheets January 29,
2011
January 30,
2010
(In thousands, except share
and per share data)
ASSETS
Current assets:
Cash and cash equivalents ............................................ $ 50,111 $ 26,751
Accounts receivable................................................. 6,733 3,834
Merchandise inventory, net ........................................... 96,051 72,693
Prepaid expenses and other current assets ................................. 10,580 6,783
Deferred tax assets ................................................. 5,024 4,286
Total current assets ................................................. 168,499 114,347
Property and equipment, net .......................................... 91,371 73,147
Other assets ...................................................... 921 937
Total assets ....................................................... $260,791 $188,431
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .................................................. $ 82,075 $ 59,963
Accrued expenses and other current liabilities ............................. 15,616 14,384
Accrued payroll and related taxes ...................................... 12,053 10,486
Deferred rent and tenant allowances, current portion......................... 7,033 5,509
Accrued income and franchise taxes..................................... 1,999 2,401
Total current liabilities............................................... 118,776 92,743
Long-term liabilities:
Deferred rent, tenant allowances and other long-term liabilities ................. 34,235 23,991
Deferred tax liabilities ............................................... 5,651 4,249
Total long-term liabilities............................................. 39,886 28,240
Total liabilities .................................................... 158,662 120,983
Commitments and Contingencies
Stockholders’ equity:
Common stock— par value $0.001 per share; 200,000 shares authorized;
24,380 shares issued and outstanding at January 29, 2011; 24,237 shares issued
and outstanding at January 30, 2010 ................................... 24 24
Additional paid in capital ............................................ 31,552 27,115
Retained earnings .................................................. 70,553 40,309
Total stockholder’s equity ............................................ 102,129 67,448
Total liabilities and stockholders’ equity.................................. $260,791 $188,431
See accompanying notes to the consolidated financial statements.
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