EXHIBIT 12.01
G+G Retail, Inc.
Ratio of Earnings to Fixed Charges
February 1, August 29, Pro
Fiscal Year 1998 1998 Forma
------------------------------- To August 28, To January 30, Fiscal
1995 1996 1997 1998 1998 1999 1999
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Fixed Charges
Interest expense - - - - - 7,520 13,919
Rent expense included in fixed charges 6,942 6,849 6,771 7,052 4,279 3,359 7,639
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Total Fixed Charges 6,942 6,849 6,771 7,052 4,279 10,879 21,558
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Earnings
Income before provision for (benefit from) income taxes (2,691) 1,045 18,516 24,982 4,592 3,594 3,011
Plus: fixed charges 6,942 6,849 6,771 7,052 4,279 10,879 21,558
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Total Earnings 4,251 7,894 25,287 32,034 8,871 14,473 24,569
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Ratio of earnings to fixed charges (A) 1.2x 3.7x 4.5x 2.1x 1.3x 1.1x
First Quarter
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Pro Forma
Fiscal Fiscal Fiscal
1999 2000 2000
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Fixed Charges
Interest expense - 3,277 3,309
Rent expense included in fixed charges 1,879 2,035 2,035
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Total Fixed Charges 1,879 5,312 5,344
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Earnings
Income before provision for (benefit from) income taxes 3,241 (710) (742)
Plus: fixed charges 1,879 5,312 5,344
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Total Earnings 5,120 4,602 4,602
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Ratio of earnings to fixed charges 2.7x (A) (A)
(A) Earnings were insufficient to cover fixed charges by approximately
$2.7 million, $710,000 and $742,000 respectively in fiscal 1995, the first
quarter of fiscal 2000 and pro forma first quarter of fiscal 2000.