Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
(in thousands)
| Years Ended July 31, | Six Months Ended | |||||||||||||||||||||||||||
| January 25, | January 30, | |||||||||||||||||||||||||||
| 2000 | 2001 | 2002 | 2003 | 2004 | 2004 | 2005 (1) | ||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
| Income (loss) before cumulative effect of change in accounting principle | $ | 60,507 | $ | 34,206 | $ | 12,878 | $ | 12,392 | $ | 26,649 | $ | 2,691 | ($1,245 | ) | ||||||||||||||
| Income tax provision (benefit) | 35,536 | 20,091 | 6,343 | 2,635 | 15,232 | 1,594 | (823 | ) | ||||||||||||||||||||
| Earnings (loss) | 96,043 | 54,297 | 19,221 | 15,027 | 41,881 | 4,285 | (2,068 | ) | ||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||||||
| Interest expense | 21,169 | 22,195 | 16,255 | 27,985 | 38,098 | 19,424 | 17,318 | |||||||||||||||||||||
| Portion of rental expense representative of interest factor | 1,113 | 2,082 | 3,030 | 3,034 | 3,264 | 1,651 | 1,827 | |||||||||||||||||||||
| Fixed charges | 22,282 | 24,277 | 19,285 | 31,019 | 41,362 | 21,075 | 19,145 | |||||||||||||||||||||
Capitalized interest | (580 | ) | ¾ | ¾ | ¾ | ¾ | ¾ | ¾ | ||||||||||||||||||||
Earnings before income tax provision and fixed charges | $ | 117,745 | $ | 78,574 | $ | 38,506 | $ | 46,046 | $ | 83,243 | $ | 25,360 | $ | 17,077 | ||||||||||||||
Ratio of earnings to fixed charges | 5.3 | x | 3.2 | x | 2.0 | x | 1.5 | x | 2.0 | x | 1.2 | x | ¾ | |||||||||||||||
| (1) | For the six months ended January 30, 2005, earnings were insufficient to cover fixed charges. |