AMES DEPARTMENT STORES, INC. Exhibit 20-B
FEBRUARY RESULTS VS. PLAN Page 1 of 2
MANAGEMENT FORMAT
(Unaudited)
(In Millions)
Feb. and Year-to-Date FY9
Actual Plan* Last Yr**
INCOME SUMMARY:
Net Sales $121.5 $125.1 $124.0
FIFO Margin $ 29.6 30.9 31.6
Margin % 24.3% 24.7% 25.5%
Total Expenses 39.4 41.2 39.4
Gain on Sale of Lease 1.1 - -
---------------------------
EBIT (8.7) (10.3) (7.8)
Interest (Expense) Income, net (1.8) (1.9) (1.5)
Income Tax Expense - - -
---------------------------
Net Profit (Loss) ($10.5) ($12.2) ($9.3)
===========================
Depr. & Amort. and LIFO, net - 0.2 0.3
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EBITDA ($8.7) ($10.5) ($8.1)
===========================
BALANCE SHEET SUMMARY: Balance at
end of Period
Actual Plan
------------------
Unrestricted Cash and Cash Equivalents $24.7 $28.5
Restricted Cash and Cash Equivalents 53.4 61.0
Merchandise Inventories, LIFO 467.6 491.6
Other Current Assets 28.4 32.7
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Total Current Assets 574.1 613.8
Net Fixed Assets 21.4 27.3
Other Assets 1.9 -
------------------
Total Assets $597.4 $641.1
==================
Trade Accounts Payable $105.0 $71.7
Short-Term Debt (Revolver) 33.5 95.0
Other Current Liabilities 198.8 187.4
------------------
Total Current Liabilities 337.3 354.1
Long-Term Debt 78.2 110.9
Fresh-Start Excess Net Assets (Negative Goodwill) 54.3 54.3
Unfavorable Lease Liability 24.9 24.9
Other Long-Term Liabilities 52.8 51.3
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Total Liabilities & Negative Goodwill 547.5 595.5
Paid-In-Capital 73.5 70.1
Retained Earnings (Deficit) (23.6) (24.5)
------------------
Total Liabilities & Equity $597.4 $641.1
==================
<FN>
* As reported on Form 8-K dated February 17, 1994.
** Last year's (fiscal 1994) income summary is revised for 307 stores.
NOTE: EBIT is earnings (loss) before interest, income taxes,
and any non-cash extraordinary items. EBITDA is EBIT before
depreciation & amortization, LIFO expense or credit, and any non-cash
unusual charges and gains.
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