EX-99.2 3 c85682exv99w2.htm RECONCILIATIION TABLE OF NON-GAAP NUMBERS exv99w2
 

Wilsons The Leather Experts Inc. and Subsidiaries
Supplemental Information — Consolidated Statement of Operations
(In Thousands, Except Per Share Amounts)
(Unaudited)

Reconciliation of GAAP Consolidated Statement of Operations to Adjusted Statement of Operations:

                         
    Three Months Ended
    
Restructuring		   Three Months Ended
    May 1,   And Other   May 1,
    2004 - As Reported
   Charges (1)
   2004 - Adjusted
Net sales
   $ 97,751     $ 20,778     $ 76,973  
Cost of goods sold, buying and occupancy costs
     78,333       20,534       57,799  
 
    
 		      
 		      
 		  
Gross margin
     19,418       244       19,174  
Selling, general and administrative expenses
     28,109       3,254       24,855  
Depreciation and amortization
     15,357       11,168       4,189  
 
    
 		      
 		      
 		  
Operating loss
     (24,048 )     (14,178 )     (9,870 )
Interest expense, net
     2,744       —       2,744  
 
    
 		      
 		      
 		  
Loss before income taxes
     (26,792 )     (14,178 )     (12,614 )
Income tax benefit
     —       —       —  
 
    
 		      
 		      
 		  
Net loss
   $ (26,792 )   $ (14,178 )   $ (12,614 )
 
    
 		      
 		      
 		  
Basic and diluted loss per share:
                        
Basic and diluted loss per share
   $ (1.30 )   $ (0.69 )   $ (0.61 )
 
    
 		      
 		      
 		  
Weighted average shares outstanding — basic and diluted
     20,687       —       20,687  
 
    
 		      
 		      
 		  

  (1)   Includes $14.2 million related primarily to the transfer of inventory to an independent liquidator in conjunction with the expected closing of approximately 111 stores, and lease termination costs and accelerated depreciation related to store closings.