Rue 21 2011 Annual Report Download - page 41

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Shareholders of rue21, inc.
We have audited the accompanying consolidated balance sheets of rue21, inc. as of January 28, 2012 and
January 29, 2011, and the related consolidated statements of income, stockholders’ equity, and cash flows for each
of the three years in the period ended January 28, 2012. 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. at January 28, 2012 and January 29, 2011, and the consolidated results
of its operations and its cash flows for each of the three years in the period ended January 28, 2012, 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.’s internal control over financial reporting as of January 28, 2012, based on criteria
established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission and our report dated March 27, 2012 expressed an unqualified opinion thereon.
/s/ E
RNST
&Y
OUNG
LLP
Pittsburgh, Pennsylvania
March 27, 2012
38