Item 6. Selected Financial Data

The following table presents our selected financial data. The table should be read in conjunction with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and Item 8, “Financial Statements and Supplementary Data,” of this Annual Report on Form 10-K.


	Fiscal Year Ended(1)
	January 31,			February 2,			February 3,			January 28,			January 29,
	2009			2008			2007			2006			2005
	(In thousands, except per share and per square foot data)

Consolidated income statement:
Net sales(2)	$	1,084,646		$	912,141		$	755,113		$	579,075		$	491,152
Cost of sales		756,712			628,495			519,929			404,794			346,585

Gross profit		327,934			283,646			235,184			174,281			144,567
Selling, general and administrative expenses		267,322			225,167			188,000			140,145			121,999
Pre-opening expenses		14,311			11,758			7,096			4,712			4,072
Operating income		46,301			46,721			40,088			29,424			18,496
Interest expense		3,943			4,542			3,314			2,951			2,835

Income before income taxes		42,358			42,179			36,774			26,473			15,661
Income tax expense		17,090			16,844			14,231			10,504			6,201

Net income	$	25,268		$	25,335		$	22,543		$	15,969		$	9,460

Net income per common share:
Basic	$	0.44		$	0.69		$	1.38		$	0.74		$	(0.70	)
Diluted	$	0.43		$	0.48		$	0.45		$	0.33		$	(0.70	)
Weighted average common shares outstanding:
Basic		57,425			20,383			5,771			4,094			3,181
Diluted		58,967			53,293			49,921			48,196			3,181
Other operating data:
Comparable store sales increase(3)		0.2	%		6.4	%		14.5	%		8.3	%		8.0	%
Number of stores end of year		311			249			196			167			142
Total square footage end of year		3,240,579			2,589,244			2,023,305			1,726,563			1,464,330
Total square footage per store(4)		10,420			10,399			10,323			10,339			10,312
Average total square footage(5)		2,960,355			2,283,935			1,857,885			1,582,935			1,374,005
Net sales per average total square foot(6)	$	366		$	399		$	398		$	366		$	357
Capital expenditures		110,863			101,866			62,331			41,607			34,807
Depreciation and amortization		51,445			39,503			29,736			22,285			18,304
Consolidated balance sheet data:
Cash and cash equivalents	$	3,638		$	3,789		$	3,645		$	2,839		$	3,004
Working capital		159,695			117,039			88,105			76,473			69,955
Property and equipment, net		292,224			236,389			162,080			133,003			114,912
Total assets		568,932			469,413			338,597			282,615			253,425
Total debt(7)		106,047			74,770			55,529			50,173			47,008
Total stockholders’ equity		244,968			211,503			148,760			123,015			105,308


(1)		Our fiscal year-end is the Saturday closest to January 31 based on a 52/53-week year. Each fiscal year consists of four 13-week quarters, with an extra week added onto the fourth quarter every five or six years.

(2)		Fiscal 2006 was a 53-week operating year and the 53rd week represented approximately $16.4 million in net sales.

(3)		Comparable store sales increase reflects sales for stores beginning on the first day of the 14th month of operation. Remodeled stores are included in comparable store sales unless the store was closed for a portion of the current or comparable prior year.

(4)		Total square footage per store is calculated by dividing total square footage at end of year by number of stores at end of year.

(5)		Average total square footage represents a weighted average which reflects the effect of opening stores in different months throughout the year.

(6)		Net sales per average total square foot was calculated by dividing net sales for the year by the average square footage for those stores open during each year. Fiscal 2006 net sales per average total square foot were adjusted to exclude the net sales effect of the 53rd week.

(7)		Total debt includes approximately $4.8 million related to the Series III preferred stock, which is presented between the liabilities section and the equity section of our consolidated balance sheet for all years prior to February 2, 2008.

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