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
Six Months
-------------------------------
Pro Forma
Fiscal Fiscal Fiscal
1999 2000 2000
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Fixed Charges
Interest expense - 6,667 6,696
Rent expense included in fixed charges 3,731 4,023 4,023
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Total Fixed Charges 3,731 10,690 10,719
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Earnings
Income before provision for (benefit from) income taxes 5,484 (1,287) (1,316)
Plus: fixed charges 3,731 10,690 10,719
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Total Earnings 9,215 9,403 9,403
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Ratio of earnings to fixed charges 2.5x (A) (A)
(A) Earnings were insufficient to cover fixed charges by approximately $2.7
million, $1.3 million and $1.3 million respectively in fiscal 1995, the
first six months of fiscal 2000 and pro forma first six months of fiscal
2000.