1
EXHIBIT 12.1
J. BAKER, INC. AND SUBSIDIARIES
Statement Re Computation of Ratios
(Dollars in thousands)
Fiscal Years Ended
---------------------------------------------------------------------------
January 30, January 29, January 28, February 3, February 1,
1993 1994 1995 1996* 1997**
----------- ----------- ----------- ----------- -----------
Historical ratio of earnings to fixed charges
Earnings (loss) from continuing operations
before taxes and extraordinary item per
consolidated statements of earnings $21,076 $36,424 $36,899 $(64,425) $(157,274)
Add:
Portion of rents representative of the
interest factor 6,564 15,227 17,593 17,316 16,283
Interest on indebtedness including the
amortization of debt expense and
detachable warrant value (1) 9,863 11,728 14,231 18,754 19,554
------- ------- ------- -------- ---------
Earnings (loss) before fixed charges,
as adjusted $37,503 $63,379 $68,723 $(28,355) $(121,437)
======= ======= ======= ======== =========
Fixed charges
Interest on indebtedness including the
amortization of debt expense and
detachable warrant value (1) $ 9,863 $11,728 $14,231 $ 18,754 $ 19,554
------- ------- ------- -------- ---------
Rents $19,691 $45,680 $52,780 $ 51,948 $ 48,850
Portion of rents representative of
the interest factor (2) $ 6,564 $15,227 $17,593 $ 17,316 $ 16,283
------- ------- ------- -------- ---------
Fixed charges (1)+(2) $16,427 $26,955 $31,824 $ 36,070 $ 35,837
======= ======= ======= ======== =========
Ratio of earnings (loss) to fixed charges 2.3x 2.4x 2.2x (.8)x (3.4)x
======= ======= ======= ======== =========
(*) 1996 reflects the impact of restructuring charges of $69,300,000.
(**) 1997 reflects the impact of restructuring and other non-recurring charges
of $122,309,000.