Item 6. Selected Financial Data

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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 28, 2012			January 29, 2011			January 30, 2010			January 31, 2009			February 2, 2008
	(In thousands, except per share and per square foot data)
Income statement:
Net sales	$	1,776,151		$	1,454,838		$	1,222,771		$	1,084,646		$	912,141
Cost of sales		1,159,311			970,753			846,202			752,939			628,495

Gross profit		616,840			484,085			376,569			331,707			283,646
Selling, general and administrative expenses		410,658			358,106			302,413			271,095			225,167
Pre-opening expenses		9,987			7,095			6,003			14,311			11,758

Operating income		196,195			118,884			68,153			46,301			46,721
Interest expense		587			755			2,202			3,943			4,542

Income before income taxes		195,608			118,129			65,951			42,358			42,179
Income tax expense		75,344			47,099			26,595			17,090			16,844

Net income	$	120,264		$	71,030		$	39,356		$	25,268		$	25,335

Net income per common share:
Basic	$	1.96		$	1.20		$	0.68		$	0.44		$	0.69
Diluted	$	1.90		$	1.16		$	0.66		$	0.43		$	0.48
Weighted average common shares outstanding:
Basic		61,259			58,959			57,915			57,425			20,383
Diluted		63,334			61,288			59,237			58,967			53,293
Other operating data:
Comparable store sales increase(2)		10.9	%		11.0	%		1.4	%		0.2	%		6.4	%
Number of stores end of year		449			389			346			311			249
Total square footage end of year		4,747,148			4,094,808			3,613,840			3,240,579			2,589,244
Total square footage per store(3)		10,573			10,526			10,445			10,420			10,399
Average total square footage(4)		4,413,236			3,811,597			3,459,628			2,960,355			2,283,935
Net sales per average total square foot(5)	$	402		$	382		$	353		$	366		$	399
Capital expenditures		128,636			97,115			68,105			110,863			101,866
Depreciation and amortization		75,931			64,936			62,166			51,445			39,503
Balance sheet data:
Cash and cash equivalents	$	253,738		$	111,185		$	4,017		$	3,638		$	3,789
Working capital		415,377			241,032			136,417			159,695			117,039
Property and equipment, net		376,985			326,099			290,861			292,224			236,389
Total assets		957,217			730,488			553,635			568,932			469,413
Total debt		—			—			—			106,047			74,770
Total stockholders’ equity		584,704			402,533			292,608			244,968			211,503

(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)	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.

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

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

(5)	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.

Previous: Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities · Next: Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Item 6. Selected Financial Data

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