Exhibit 12
Retail Ventures, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
Nine months | ||||||||||||||||||||||||
ended | Year ended | |||||||||||||||||||||||
October 31, | January 31, | February 2, | February 3, | January 28, | January 29, | |||||||||||||||||||
2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
(Loss) income from continuing operations before income taxes, discontinued operations and net income attributable to the noncontrolling interests | $ | (46,785 | ) | $ | 126,066 | $ | 334,249 | $ | (70,627 | ) | $ | (81,944 | ) | $ | 55,167 | |||||||||
Fixed charges (as below) | 42,040 | 51,790 | 48,215 | 38,931 | 30,420 | 26,548 | ||||||||||||||||||
Total (loss) earnings | $ | (4,745 | ) | $ | 177,856 | $ | 382,464 | $ | (31,696 | ) | $ | (51,524 | ) | $ | 81,715 | |||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 9,678 | $ | 13,603 | $ | 13,896 | $ | 8,487 | $ | 2,306 | $ | 2,734 | ||||||||||||
Estimated interest element in minimum rent expense(4) | 32,362 | 38,187 | 34,319 | 30,444 | 28,114 | 23,814 | ||||||||||||||||||
Total fixed charges | $ | 42,040 | $ | 51,790 | $ | 48,215 | $ | 38,931 | $ | 30,420 | $ | 26,548 | ||||||||||||
Ratio of (loss) earnings to fixed charges | (0.11 | )(1) | 3.43 | 7.93 | (0.81 | )(2) | (1.69 | )(3) | 3.08 |
(1) | For the nine months ended October 31, 2009, the earnings to cover fixed charges were deficient by $46,785. | |
(2) | For the year ended February 3, 2007, the earnings to cover fixed charges were deficient by $70,627. | |
(3) | For the year ended January 28, 2006, the earnings to cover fixed charges were deficient by $81,944. | |
(4) | Interest component is estimated to be one-third of minimum rent expense. |