Exhibit 12.1
Calculation of Ratio of Earnings to Fixed Charges (dollars in thousands)
12 WEEKS
FISCAL YEAR ENDED ENDED
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MAY 1, APRIL 30, APRIL 29, APRIL 27, MAY 3, JULY 20,
1993 1994 1995 1996 1997 1996
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Earnings:
Income before taxes................................... 26,471 27,135 30,220 22,655 1,085 2,473
Add fixed charges..................................... 12,658 14,756 14,183 16,519 40,763 9,190
Earnings........................................... 39,129 41,891 44,403 39,174 41,848 11,663
Fixed Charges:
Interest expense...................................... 9,920 11,626 10,823 13,000 36,215 8,378
Amort of deferred financing costs..................... 963
Other adjustments (a)................................. 2,738 3,130 3,360 3,519 3,585 812
Fixed charges...................................... 12,658 14,756 14,183 16,519 40,763 9,190
Ratio of earnings to fixed charges.................... 3.1 2.8 3.1 2.4 1.0 1.3
JULY 26,
1997
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Earnings:
Income before taxes................................... 3,443
Add fixed charges..................................... 9,290
Earnings.............................................. 12,733
Fixed Charges:
Interest expense...................................... 8,241
Amort of deferred financing costs..................... 222
Other adjustments (a)................................. 827
Fixed charges......................................... 9,290
Ratio of earnings to fixed charges.................... 1.4
(a) Other adjustments includes a portion of rent expense that manatement
considers to be interest.
Note: The ratio of earnings to fixed charges is computed by adding fixed
charges to earnings (loss) before taxes on income and dividing that sum by
the fixed charges. Fixed charges consist of interest (including
amortization costs) and a portion of rent expense that management
considers to be interest.