EXHIBIT 12.1 LONDON FOG INDUSTRIES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS) FISCAL YEAR ENDED -------------------------------------------------------------------------- FEBRUARY 26, FEBRUARY 25, FEBRUARY 24, FEBRUARY 22, FEBRUARY 28, 1994 1995 1996 1997 1998 -------------- -------------- -------------- -------------- -------------- EARNINGS Income (loss) before extraordinary items and cumulative effect of accounting change ........................ $ (42,383) $ (212,051) $ (34,583) $ (1,796) $ (11,028) Add back- ................................ Fixed Charges ........................... 28,657 34,291 21,816 17,340 20,192 --------- ---------- --------- -------- --------- Total earnings ........................ $ (13,726) $ (177,760) $ (12,767) $ 15,544 $ 9,164 ========= ========== ========= ======== ========= FIXED CHARGES Interest Expense .......................... $ 24,625 $ 29,620 $ 17,249 $ 13,073 $ 14,959 Interest factor in rental expense ......... 4,032 4,671 4,567 4,267 5,233 --------- ---------- --------- -------- --------- Total fixed charges ................... $ 28,657 $ 34,291 $ 21,816 $ 17,340 $ 20,192 ========= ========== ========= ======== ========= Coverage Deficiency ................... $ (42,383) $ (212,051) $ (34,583) $ (1,796) $ (11,028) ========= ========== ========= ======== ========= FOURTEEN THIRTEEN WEEKS ENDED WEEKS ENDED MAY 31, MAY 30, 1997 1998 ------------- ------------ EARNINGS Income (loss) before extraordinary items and cumulative effect of accounting change ........................ $ (12,445) $ (13,191) Add back- ................................ Fixed Charges ........................... 5,363 2,883 --------- --------- Total earnings ........................ $ (7,082) $ (10,308) ========= ========= FIXED CHARGES Interest Expense .......................... $ 4,044 $ 1,460 Interest factor in rental expense ......... 1,319 1,423 --------- --------- Total fixed charges ................... $ 5,363 $ 2,883 ========= ========= Coverage Deficiency ................... $ (12,445) $ (13,191) ========= =========