EXHIBIT 99.2
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share and store data)
(Unaudited)
QUARTER ENDED
------------------------------------------------------- FISCAL
MAY 4, AUGUST 3, NOVEMBER 2, FEBRUARY 1, 2002
2002 2002 2002 2003 TOTAL
--------- --------- ----------- ----------- ---------
Net sales:
Retail $ 129,334 $ 104,157 $ 144,357 $ 154,011 $ 531,859
Play & Music 3,989 3,169 3,339 4,443 14,940
--------- --------- --------- --------- ---------
133,323 107,326 147,696 158,454 546,799
Cost of goods sold, including buying
& occupancy expenses (76,169) (66,045) (86,844) (87,955) (317,013)
--------- --------- --------- --------- ---------
Gross profit 57,154 41,281 60,852 70,499 229,786
Selling, general and administrative
expenses (47,393) (43,230) (49,989) (53,438) (194,050)
--------- --------- --------- --------- ---------
Operating income (loss) 9,761 (1,949) 10,863 17,061 35,736
Foreign exchange gains (losses), net 342 139 (97) (210) 174
Interest expense, net (201) (150) (526) 432 (445)
--------- --------- --------- --------- ---------
Income (loss) before income taxes 9,902 (1,960) 10,240 17,283 35,465
Income tax benefit (expense) (3,812) 755 (3,943) (6,654) (13,654)
--------- --------- --------- --------- ---------
Net income (loss) $ 6,090 ($ 1,205) $ 6,297 $ 10,629 $ 21,811
========= ========= ========= ========= =========
Net income (loss) per share:
Basic $ 0.21 $ (0.04) $ 0.22 $ 0.36 $ 0.75
Diluted $ 0.20 $ (0.04) $ 0.21 $ 0.35 $ 0.71
Weighted average shares outstanding:
Basic 28,796 28,943 29,050 29,179 28,992
Diluted 30,473 28,943 30,702 30,779 30,633
Number of retail stores at end of period 577 571 585 584 584
QUARTER ENDED
------------------------------------------------------- FISCAL
MAY 5, AUGUST 4, NOVEMBER 3, FEBRUARY 2, 2001
2001 2001 2001 2002 TOTAL
--------- --------- ----------- ----------- ---------
Net sales:
Retail $ 124,073 $ 97,796 $ 133,378 $ 150,722 $ 505,969
Play & Music 3,423 2,960 3,096 4,498 13,977
--------- --------- --------- --------- ---------
127,496 100,756 136,474 155,220 519,946
Cost of goods sold, including buying
& occupancy expenses (82,678) (69,538) (86,835) (89,050) (328,101)
--------- --------- --------- --------- ---------
Gross profit 44,818 31,218 49,639 66,170 191,845
Selling, general and administrative
expenses (44,511) (42,440) (45,363) (48,478) (180,792)
--------- --------- --------- --------- ---------
Operating income (loss) 307 (11,222) 4,276 17,692 11,053
Foreign exchange gains (losses), net (83) (65) (98) (186) (432)
Interest expense, net (824) (628) (1,261) (461) (3,174)
--------- --------- --------- --------- ---------
Income (loss) before income taxes (600) (11,915) 2,917 17,045 7,447
Income tax benefit (expense) 231 4,587 (1,123) (6,562) (2,867)
--------- --------- --------- --------- ---------
Net income (loss) $ (369) $ (7,328) $ 1,794 $ 10,483 $ 4,580
========= ========= ========= ========= =========
Net income (loss) per share:
Basic $ (0.01) $ (0.26) $ 0.06 $ 0.37 $ 0.16
Diluted $ (0.01) $ (0.26) $ 0.06 $ 0.35 $ 0.16
Weighted average shares outstanding:
Basic 28,058 28,169 28,433 28,628 28,326
Diluted 28,058 28,169 29,130 30,067 29,377
Number of retail stores at end of period 576 577 581 580 580