EXHIBIT 12
The following table shows our historical ratio of earnings to fixed charges for each of the five most recent fiscal years and for the 26 weeks ended January 29, 2005.
26 Weeks Ended | Fiscal Year Ended | |||||||||||||||||||
January 29, 2005 | July 31, 2004 | July 26, 2003 | July 27, 2002 | July 28, 2001 | July 29, 2000 | |||||||||||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest expense, including amortization of debt issuance costs | $ | 2,148 | $ | 5,288 | $ | — | $ | — | $ | — | $ | — | ||||||||
| Portion of rental expense deemed to | ||||||||||||||||||||
| represent interest | 7,845 | 30,352 | 29,122 | 27,803 | 25,586 | 24,087 | ||||||||||||||
| Total fixed charges | $ | 9,993 | $ | 35,640 | $ | 29,122 | $ | 27,803 | $ | 25,586 | $ | 24,087 | ||||||||
| Earnings: | ||||||||||||||||||||
| Income (loss) from continuing | ||||||||||||||||||||
| operations before income taxes | $ | 2,579 | $ | 45,473 | $ | 11,222 | $ | 57,691 | $ | 55,396 | $ | 56,208 | ||||||||
| Fixed charges | 9,993 | 35,640 | 29,122 | 27,803 | 25,586 | 24,087 | ||||||||||||||
| Total earnings for computation | ||||||||||||||||||||
| of ratio | $ | 12,572 | $ | 81,113 | $ | 40,344 | $ | 85,494 | $ | 80,982 | $ | 80,295 | ||||||||
| Ratio of earnings to fixed charges | 0.26x | 1.28x | 0.39x | 2.08x | 2.17x | 2.33x | ||||||||||||||
For the purpose of calculating the ratio of earnings to fixed charges, “earnings” represents income from continuing operations before income taxes, plus fixed charges. “Fixed charges” consist of interest expense, including amortization of debt issuance costs and that portion of rental expense considered to be a reasonable approximation of interest.
