Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(In thousands)
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| Fiscal Year Ended |
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| January 29, |
| January 30, |
| January 31, |
| February 2, |
| February 3, |
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Earnings (loss) before income taxes |
| $ | (44,209 | ) | $ | (45,975 | ) | $ | (44,704 | ) | $ | (3,876 | ) | $ | 91,567 |
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Add: |
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|
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Interest expense |
| 1,822 |
| 1,568 |
| 747 |
| 742 |
| 214 |
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Rental expense factor (1) |
| 32,557 |
| 34,636 |
| 35,342 |
| 29,809 |
| 29,021 |
| |||||
Earnings available for fixed charges |
| $ | (9,830 | ) | $ | (9,771 | ) | $ | (8,615 | ) | $ | 26,675 |
| $ | 120,802 |
|
Fixed charges: |
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Interest expense |
| $ | 1,822 |
| $ | 1,568 |
| $ | 747 |
| $ | 742 |
| $ | 214 |
|
Rental expense factor (1) |
| 32,557 |
| 34,636 |
| 35,342 |
| 29,809 |
| 29,021 |
| |||||
Total fixed charges |
| $ | 34,379 |
| $ | 36,204 |
| $ | 36,089 |
| $ | 30,551 |
| $ | 29,235 |
|
Ratio of earnings to fixed charges |
| (0.29 | ) | (0.27 | ) | (0.24 | ) | 0.87 |
| 4.13 |
|
(1) “Rental expense factor” is the portion of rental expense estimated to be representative of the interest expense within rental expense under operating leases.
The ratio of earnings to fixed charges is computed by dividing income or loss before taxes plus fixed charges by fixed charges. Fixed charges include interest expense, financing fees and an estimate of the interest expense within rent expense under operating leases.