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EXHIBIT 12
VENATOR GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Twenty-six
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weeks ended Fiscal Years Ended
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July 29, July 31, Jan. 29, Jan. 30, Jan. 31, Jan. 25, Jan. 27,
2000 1999* 2000 1999 1998 1997 1996
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NET EARNINGS
Income (loss) from continuing
operations, after-tax....................$ 24 (51) 17 3 213 209 29
Income tax expense (benefit)............... 16 (33) 11 (42) 120 139 34
Interest expense, excluding capitalized
interest................................. 21 33 65 57 41 53 91
Portion of rents deemed representative
of the interest factor (1/3).............. 96 90 190 180 163 162 157
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$ 157 39 283 198 537 563 311
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FIXED CHARGES
Gross interest expense.....................$ 22 34 67 64 41 53 91
Portion of rents deemed representative
of the interest factor (1/3).............. 96 90 190 180 163 162 157
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$ 118 124 257 244 204 215 248
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RATIO OF EARNINGS TO FIXED
CHARGES................................... 1.3 0.3 1.1 0.8 2.6 2.6 1.3
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Earnings were not adequate to cover fixed charges by $85 million for the
twenty-six weeks ended July 31, 1999 and by $46 million for the fiscal year
ended January 30, 1999.
* 1999 interim information has been restated to reflect the change in method
for calculating the market-related value of pension plan assets.