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Exhibit 12.1
THE JEAN COUTU GROUP (PJC) INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSAND, EXCEPT FOR RATIO OF EARNINGS TO FIXED CHARGES)
<Table>
<Caption>
3 MONTHS 13 WEEKS
PERIOD ENDED PERIOD ENDED
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AUGUST 31 AUGUST 28
2000 2001 2002 2003 2004 2003 2004
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CANADIAN GAAP
Fixed charges
Interest expense 10,225 9,259 10,900 17,857 14,535 4,107 18,027
Portion of rental
expense representing
the interest factor 12,422 9,502 10,351 11,744 12,468 4,154 10,201
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22,647 18,761 21,251 29,601 27,003 8,261 28,228
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Earnings
Income before income taxes 90,608 107,176 130,640 150,880 193,754 46,078 18,101
Fixed charges 22,647 18,761 21,251 29,601 27,003 8,261 28,228
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113,255 125,937 151,891 180,481 220,757 54,339 46,329
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Ratio of earnings to fixed charges 5.0 6.7 7.1 6.1 8.2 6.6 1.6
===================================================================================
U.S. GAAP
Fixed charges
Interest expense 10,225 9,259 10,900 17,857 14,535 4,107 18,027
Portion of rental
expense representing
the interest factor 12,422 9,502 10,351 11,744 12,468 4,154 10,201
-----------------------------------------------------------------------------------
22,647 18,761 21,251 29,601 27,003 8,261 28,228
-----------------------------------------------------------------------------------
Earnings
Income before income taxes 89,525 106,382 129,474 147,122 191,625 45,587 18,224
Fixed charges 22,647 18,761 21,251 29,601 27,003 8,261 28,228
-----------------------------------------------------------------------------------
112,172 125,143 150,725 176,723 218,628 53,848 46,452
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Ratio of earnings to fixed charges 5.0 6.7 7.1 6.0 8.1 6.5 1.6
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</Table>
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THE JEAN COUTU GROUP (PJC) INC.
COMPUTATION OF TOTAL INDEBTEDNESS TO ADJUSTED EBITDA
(DOLLARS IN THOUSAND, EXCEPT FOR RATIO OF TOTAL INDEBTEDNESS TO ADJUSTED EBITDA)
<Table>
<Caption>
2000 2001 2002 2003 2004
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CANADIAN GAAP
Total indebtedness 143,735 111,476 263,456 260,755 207,175
Adjusted EBITDA 131,936 147,585 171,511 205,675 249,722
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Ratio of total indebtedness
to adjusted EBITDA 1.1 0.8 1.5 1.3 0.8
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U.S. GAAP
Total indebtedness 143,735 111,476 263,456 260,755 207,175
Adjusted EBITDA 132,011 147,788 171,613 203,632 249,722
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Ratio of total indebtedness
to adjusted EBITDA 1.1 0.8 1.5 1.3 0.8
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</Table>
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THE JEAN COUTU GROUP (PJC) INC.
COMPUTATION OF INTEREST COVERAGE (ADJUSTED EBITDA TO INTEREST)
(DOLLARS IN THOUSAND, EXCEPT FOR RATIO OF INTEREST COVERAGE (ADJUSTED EBITDA TO
INTEREST)
<Table>
<Caption>
2000 2001 2002 2003 2004
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CANADIAN GAAP
Adjusted EBITDA 131,936 147,585 171,511 205,675 249,722
Interest expense 10,226 9,259 10,900 17,858 14,535
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Ratio of interest coverage
(adjusted EBITDA to interest) 12.9 15.9 15.7 11.5 17.2
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U.S. GAAP
Adjusted EBITDA 132,011 147,788 171,613 203,632 249,722
Interest expense 10,226 9,259 10,900 17,858 14,535
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Ratio of interest coverage
(adjusted EBITDA to interest) 12.9 16.0 15.7 11.4 17.2
----------------------------------------------------------------
</Table>