Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

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Five-Year Selected Financial Data


In thousands, except percentages, per share amounts and retail stores data	Fiscal 2016 (52 Weeks)			Fiscal 2015 (52 Weeks)		Fiscal 2014 (52 Weeks)		Fiscal 2013 (52 Weeks)		Fiscal 2012 (53 Weeks)
Results of Operations
Net revenues	$	5,083,812		$	4,976,090	$	4,698,719	$	4,387,889	$	4,042,870
Net revenue growth		2.2%			5.9%		7.1%		8.5%		8.7%
Comparable brand revenue growth_1_		0.7%			3.7%		7.1%		8.8%		6.1%
Gross profit	$	1,883,310		$	1,844,214	$	1,800,504	$	1,704,216	$	1,592,476
Gross margin		37.0%			37.1%		38.3%		38.8%		39.4%
Operating income	$	472,599		$	488,634	$	502,265	$	452,098	$	409,163
Operating margin_2_		9.3%			9.8%		10.7%		10.3%		10.1%
Net earnings	$	305,387		$	310,068	$	308,854	$	278,902	$	256,730
Basic earnings per share	$	3.45		$	3.42	$	3.30	$	2.89	$	2.59
Diluted earnings per share	$	3.41		$	3.37	$	3.24	$	2.82	$	2.54
Weighted average basic shares outstanding during the period		88,594			90,787		93,634		96,669		99,266
Weighted average diluted shares outstanding during the period		89,462			92,102		95,200		98,765		101,051
Financial Position
Working capital_3_	$	405,924		$	339,673	$	515,975	$	558,007	$	659,645
Total assets	$	2,476,879		$	2,417,427	$	2,330,277	$	2,336,734	$	2,187,679
Return on assets		12.5%			13.1%		13.2%		12.3%		12.0%
Net cash provided by operating activities	$	524,709		$	544,026	$	461,697	$	453,769	$	364,127
Capital expenditures	$	197,414		$	202,935	$	204,800	$	193,953	$	205,404
Long-term debt and other long-term obligations	$	71,215		$	49,713	$	62,698	$	61,780	$	50,216
Stockholders’ equity	$	1,248,220		$	1,198,226	$	1,224,706	$	1,256,002	$	1,309,138
Stockholders’ equity per share (book value)	$	14.29		$	13.38	$	13.33	$	13.35	$	13.39
Return on equity		25.0%			25.6%		24.9%		21.7%		20.0%
Annual dividends declared per share	$	1.48		$	1.40	$	1.32	$	1.24	$	0.88
E-commerce Net Revenues
E-commerce net revenue growth		4.4%			6.4%		12.1%		13.1%		14.5%
E-commerce net revenues as a percent of net revenues		51.8%			50.7%		50.5%		48.2%		46.2%
Retail Net Revenues
Retail net revenue growth (decline)		(0.1%	)		5.4%		2.4%		4.6%		4.1%
Retail net revenues as a percent of net revenues		48.2%			49.3%		49.5%		51.8%		53.8%
Number of stores at year-end		629			618		601		585		581
Store selling square footage at year-end		3,951,000			3,827,000		3,684,000		3,590,000		3,548,000
Store leased square footage at year-end		6,359,000			6,163,000		5,965,000		5,838,000		5,778,000

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	In fiscal 2015, we prospectively adopted ASU 2015-17, Balance Sheet Classification of Deferred Taxes, and now present both deferred tax assets and deferred tax liabilities as noncurrent in our Consolidated Balance Sheets. Prior balance sheets were not retrospectively adjusted and, as a result, working capital for fiscal 2012, fiscal 2013 and fiscal 2014 may not be comparable to fiscal 2015 and fiscal 2016.

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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