EX-99.3 4 p71609exv99w3.htm EXHIBIT 99.3 exv99w3
 

Exhibit 99.3
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars In Thousands)
                                                                 
                                            Thirty-nine weeks ended          
                                            October 31,     October 30,          
    2000 (1)     2001 (1)     2002     2003 (1)     2004     2004     2005          
Income (loss) before income taxes
   $ (16,406 )   $ (54,562 )   $ 2,072     $ (17,409 )   $ 61,642     $ 66,175     $ 51,903          
Fixed charges
                                                                
Interest expense
     63,417       62,812       63,544       52,418       33,460       24,797       24,455          
Interest portion of rentals
     38,341       37,971       36,559       36,092       36,401       27,510       28,260          
     
Total fixed charges
     101,758       100,783       100,103       88,510       69,861       52,307       52,715          
 
Earnings before income taxes and fixed charges
   $ 85,352     $ 46,221       102,175       71,101       131,503       118,482       104,618          
 
Ratio of earnings to fixed charges
     0.84       0.46       1.02       0.80       1.88       2.27       1.98          
     
 
Rent expense
     116,184       115,065       110,784       109,371       110,305       83,364       85,636          
One-third
     38,341       37,971       36,559       36,092       36,401       27,510       28,260          
 
(1)   The ratio of earnings to fixed charges for fiscal years 2000, 2001 and 2003 was less than one-to-one coverage. In order to achieve one-to-one coverage, an additional $16.4 million, $54.6 million, and $17.4 million, respectively of pre-tax income would have been required.