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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jul. 29, 2012
Jul. 31, 2011
Jul. 29, 2012
Jul. 31, 2011
Net revenues $ 874,283 [1] $ 814,750 [1] $ 1,691,897 [1] $ 1,585,575 [1]
Cost of goods sold 539,803 506,029 1,048,151 980,971
Gross margin 334,480 308,721 643,746 604,604
Selling, general and administrative expenses 264,377 244,636 524,320 488,819
Operating income 70,103 64,085 [2] 119,426 [3] 115,785 [2]
Interest (income) expense, net (168) 69 (359) 70
Earnings before income taxes 70,271 64,016 119,785 115,715
Income taxes 26,891 24,707 45,689 44,791
Net earnings $ 43,380 $ 39,309 $ 74,096 $ 70,924
Basic earnings per share $ 0.44 $ 0.38 $ 0.74 $ 0.68
Diluted earnings per share $ 0.43 $ 0.37 $ 0.73 $ 0.66
Shares used in calculation of earnings per share:        
Basic 99,209 104,467 99,815 104,795
Diluted 100,818 106,766 101,541 107,071
[1] Includes net revenues of approximately $31.6 million and $31.9 million for the thirteen weeks ended July 29, 2012 and July 31, 2011, respectively, and $62.2 million and $58.1 million for the twenty-six weeks ended July 29, 2012 and July 31, 2011, respectively, related to our foreign operations.
[2] Includes expenses in the retail channel of approximately $0.8 million and $2.3 million for the thirteen weeks and twenty-six weeks ended July 31, 2011, respectively, related to asset impairment and early lease termination charges for underperforming retail stores.
[3] Unallocated costs include approximately $7.0 million for employee separation charges primarily related to the retirement of our former Executive Vice President, Chief Operating and Chief Financial Officer.