Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

Five-Year Selected Financial Data


In thousands, except percentages, per share amounts and retail stores data	Fiscal 2015 (52 Weeks)		Fiscal 2014 (52 Weeks)		Fiscal 2013 (52 Weeks)		Fiscal 2012 (53 Weeks)		Fiscal 2011 (52 Weeks)
Results of Operations
Net revenues	$	4,976,090	$	4,698,719	$	4,387,889	$	4,042,870	$	3,720,895
Net revenue growth		5.9%		7.1%		8.5%		8.7%		6.2%
Comparable brand revenue growth_1_		3.7%		7.1%		8.8%		6.1%		7.3%
Gross profit	$	1,844,214	$	1,800,504	$	1,704,216	$	1,592,476	$	1,459,856
Gross margin		37.1%		38.3%		38.8%		39.4%		39.2%
Operating income	$	488,634	$	502,265	$	452,098	$	409,163	$	381,732
Operating margin_2_		9.8%		10.7%		10.3%		10.1%		10.3%
Net earnings	$	310,068	$	308,854	$	278,902	$	256,730	$	236,931
Basic earnings per share	$	3.42	$	3.30	$	2.89	$	2.59	$	2.27
Diluted earnings per share	$	3.37	$	3.24	$	2.82	$	2.54	$	2.22
Weighted average basic shares outstanding during the period		90,787		93,634		96,669		99,266		104,352
Weighted average diluted shares outstanding during the period		92,102		95,200		98,765		101,051		106,582
Financial Position
Working capital_3_	$	339,673	$	515,975	$	558,007	$	659,645	$	704,567
Total assets	$	2,417,427	$	2,330,277	$	2,336,734	$	2,187,679	$	2,060,838
Return on assets		13.1%		13.2%		12.3%		12.0%		11.3%
Net cash provided by operating activities	$	544,026	$	461,697	$	453,769	$	364,127	$	291,334
Capital expenditures	$	202,935	$	204,800	$	193,953	$	205,404	$	130,353
Long-term debt and other long-term obligations	$	49,713	$	62,698	$	61,780	$	50,216	$	52,015
Stockholders’ equity	$	1,198,226	$	1,224,706	$	1,256,002	$	1,309,138	$	1,255,262
Stockholders’ equity per share (book value)	$	13.38	$	13.33	$	13.35	$	13.39	$	12.50
Return on equity		25.6%		24.9%		21.7%		20.0%		18.8%
Annual dividends declared per share	$	1.40	$	1.32	$	1.24	$	0.88	$	0.73
E-commerce Net Revenues
E-commerce net revenue growth		6.4%		12.1%		13.1%		14.5%		12.4%
E-commerce net revenues as a percent of net revenues		50.7%		50.5%		48.2%		46.2%		43.9%
Retail Net Revenues
Retail net revenue growth		5.4%		2.4%		4.6%		4.1%		1.8%
Retail net revenues as a percent of net revenues		49.3%		49.5%		51.8%		53.8%		56.1%
Number of stores at year-end		618		601		585		581		576
Store selling square footage at year-end		3,827,000		3,684,000		3,590,000		3,548,000		3,535,000
Store leased square footage at year-end		6,163,000		5,965,000		5,838,000		5,778,000		5,743,000

1	Comparable brand revenue is calculated on a 52-week to 52-week basis, with the exception of fiscal 2012 which was calculated on a 53-week to 53-week basis. See definition of comparable brand revenue within “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

2	Operating margin is defined as operating income as a percent of net revenues.

3	Working capital for fiscal 2015 may not be comparable to the prior years presented because of our adoption of ASU 2015-17, Balance Sheet Classification of Deferred Taxes, which we adopted prospectively in fiscal 2015. See Notes A and D to our Consolidated Financial Statements for additional information.

The information set forth above is not necessarily indicative of future operations and should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the Consolidated Financial Statements and notes thereto in this Annual Report on Form 10-K.

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Item 6. SELECTED FINANCIAL DATA

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