AMES DEPARTMENT STORES, INC. Exhibit 20
JUNE RESULTS VS. PLAN Page 1 of 2
MANAGEMENT FORMAT
(Unaudited)
(In Millions)
June, 1995 Year-to-Date 1995
Last Last
ActualPlan (a) Yr (b) Actual Plan (a) Yr (b)
INCOME SUMMARY:
Net Sales $202.9 $201.8 $199.6 $796.9 $802.1 $783.6
FIFO Margin $ 53.7 55.0 54.2 211.3 218.9 213.9
Margin % 26.5% 27.3% 27.2% 26.5% 27.3% 27.3%
Total Expenses (52.0) (52.5) (54.4) (225.4) (231.3) (235.3)
Other Income/Property Gains 7.3 3.3 3.3 17.7 12.4 17.2
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EBITDA 9.0 5.8 3.1 3.6 - (4.2)
Depreciation and Amort (net) (0.3) (0.2) 0.1 (0.9) (0.8) 0.9
Net Interest Expense (2.3) (2.7) (2.5) (9.6) (11.0) (10.8)
Other Expenses, Incl LIFO - - 0.2 (0.1) - (3.5)
Non-Recur Gain - Wertheim Set - - 12.0 - - 12.0
Extra. Item, Net of Tax - - - - - (1.5)
Non-Cash Inc. Tax (Prov.) Ben (1.9) (0.9) (4.2) 2.1 3.6 1.8
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Net Income (Loss) $4.5 $2.0 $8.7 ($4.9) ($8.2) ($5.3)
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Balance at end of Period
Last
Actual Plan (a) Yr (b)
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BALANCE SHEET SUMMARY:
Cash and Cash Equivalents $23.2 $29.8 $33.9
Merchandise Inventories, LIFO 495.8 472.3 474.6
Other Current Assets 34.3 38.2 38.2
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Total Current Assets 553.3 540.3 546.7
Net Fixed Assets 47.2 50.1 25.9
Long-Term Assets 5.1 5.3 7.6
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Total Assets $605.6 $595.7 $580.2
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Trade Accounts Payable $118.2 $77.5 $72.4
Short-Term Debt (Revolver) 112.0 140.0 114.2
Other Current Liabilities 159.4 157.5 168.6
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Total Current Liabilities 389.6 375.0 355.2
Long-Term Debt 25.6 36.1 42.2
Other Long-Term Liabilities 42.2 41.0 51.4
Unfavorable Lease Liability 22.1 22.1 24.1
Fresh-start Excess Net Assets (Negative Goodwill) 46.0 46.0 52.2
Paid-In-Capital 81.0 80.3 73.5
Retained Earnings (Deficit) (0.9) (4.8) (18.4)
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Total Stockholders' Equity 80.1 75.5 55.1
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Total Liabilities & Equity $605.6 $595.7 $580.2
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<FN>
(a) As reported on Form 8-K dated February 16, 1995.
(b) Certain reclassifications have been made to the fiscal 1994 account
balances to conform to the current year presentation.
NOTE: EBITDA is earnings (loss) before net interest expense, income taxes,
LIFO expense, extraordinary or non-recurring items, depreciation and
amortization and other non-cash charges.
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