AMES DEPARTMENT STORES, INC. Exhibit 20
JULY RESULTS VS. PLAN Page 1 of 2
MANAGEMENT FORMAT
(Unaudited)
(In Millions)
July, 1995 Year-to-Date 1995
Last Last
ActualPlan (a) Yr (b) Actual Plan (a) Yr (b)
INCOME SUMMARY:
Net Sales $149.0 $147.9 $143.5 $945.9 $950.0 $927.1
FIFO Margin $ 37.6 36.4 36.2 248.9 255.3 250.1
Margin % 25.2% 24.6% 25.2% 26.3% 26.9% 27.0%
Total Expenses (41.8) (42.7) (42.9) (267.2) (274.1) (278.2)
Other Income/Property Gains 2.0 2.2 3.7 19.7 14.7 20.8
---------------------------------------------------
EBITDA (2.2) (4.1) (3.0) 1.4 (4.1) (7.3)
Depreciation and Amort (net) (0.2) (0.2) 0.1 (1.2) (1.1) 1.0
Net Interest Expense (2.0) (2.3) (2.0) (11.5) (13.3) (12.8)
Other Expenses, Incl LIFO - - 0.2 (0.1) - (3.3)
Non-Recur Gain - Wertheim Set - - - - - 12.0
Extra. Item, Net of Tax - - - - - (1.5)
Non-Cash Inc. Tax (Prov.) Ben 1.3 2.0 1.5 3.4 5.6 3.4
---------------------------------------------------
Net Income (Loss) ($3.1) ($4.6) ($3.2) ($8.0) ($12.9) ($8.5)
===================================================
Balance at end of Period
Last
Actual Plan (a) Yr (b)
---------------------------
BALANCE SHEET SUMMARY:
Cash and Cash Equivalents $19.8 $24.0 $31.8
Merchandise Inventories, LIFO 498.3 492.2 484.3
Other Current Assets 36.6 40.5 39.2
---------------------------
Total Current Assets 554.7 556.7 555.3
Net Fixed Assets 47.8 53.0 30.1
Long-Term Assets 4.8 5.2 7.3
---------------------------
Total Assets $607.3 $614.9 $592.7
===========================
Trade Accounts Payable $126.2 $122.7 $99.6
Short-Term Debt (Revolver) 114.1 125.0 106.4
Other Current Liabilities 153.7 151.9 166.5
---------------------------
Total Current Liabilities 394.0 399.6 372.5
Long-Term Debt 25.9 36.2 41.7
Other Long-Term Liabilities 42.8 40.7 50.9
Unfavorable Lease Liability 22.0 22.0 24.0
Fresh-start Excess Net Assets (Negative Goodwill) 45.6 45.6 51.7
Paid-In-Capital 81.0 80.3 73.5
Retained Earnings (Deficit) (4.0) (9.5) (21.6)
---------------------------
Total Stockholders' Equity 77.0 70.8 51.9
---------------------------
Total Liabilities & Equity $607.3 $614.9 $592.7
===========================
<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.
Page 6 of 7