WEINER'S STORES INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share data)
Fourteen Thirteen Fifty-three Fifty-two
Weeks Weeks Weeks Weeks
Ended Ended Ended Ended
Feb. 3, Jan. 29, Feb. 3, Jan. 29,
2001 2000 2001 2000
--------------------- ----------------------
Total Net Sales $54,782 $68,849 $248,258 $276,843
Leased Department
Revenue 205 -- 792 --
--------- --------- --------- ---------
Total Revenue 54,987 68,849 249,050 276,843
Cost of good sold 37,146 49,000 165,491 187,423
--------- --------- --------- ---------
Gross margin 17,841 19,849 83,559 89,420
Selling, Administrative
and other operating
costs 19,927 22,743 92,212 91,446
Reorganization expense 800 -- 11,755 --
Store closing costs -- -- 8,851
--------- --------- --------- ---------
Operating Loss (2,886) (2,894) (29,259) (2,026)
Interest Expense (533) (298) (2,180) (1,107)
--------- --------- --------- ---------
Loss before
income taxes (3,419) (3,192) (31,439) (3,133)
Income taxes -- -- -- --
--------- --------- --------- ---------
Loss before cumulative
effect adjustment (3,419) (3,192) (31,439) (3,133)
Cumulative effect
adjustment, net of
zero tax -- -- (294) --
--------- --------- --------- ---------
Net Loss $(3,419) $(3,192) $(31,733) $(3,133)
========= ========= ========= =========
Loss Per Share of
Common Stock:
Loss before cumulative
effect adjustment per
share of common stock $(0.18) $(0.17) $(1.69) $(0.17)
Cumulative effect of
accounting change per
share of common stock -- -- (0.02) --
--------- --------- --------- ---------
Net loss per share of
common stock $(0.18) $(0.17) $(1.71) $(0.17)
========= ========= ========= =========
Weighted average number
of Shares of Common
Stock outstanding 18,510 18,477 18,510 18,484
========= ========= ========= =========
WEINER'S STORES INC
CONSOLIDATED CONDENSED BALANCE SHEETS
Feb. 3, Jan. 29,
2001 2000
------- --------
(amounts in thousands)
ASSETS
Cash $5,607 $3,336
Receivables, net 841 1,100
Merchandise inventories, net 50,822 57,293
Prepaid expenses and other assets 3,459 3,287
Property and equipment, net 20,409 21,046
Reorganization value in
excess of assets, net -- 3,612
------- -------
Total assets $81,138 $89,674
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LIABILITIES AND STOCKHOLDER'S EQUITY
Accounts payable and other
current liabilities $16,616 $29,433
Other liabilities 397 397
Long-term debt under pre-petition
credit facility -- 10,000
Long-term portion of
debtor-in-possession credit
facility 20,694 --
Liabilities subject to settlement
under reorganization proceedings 25,320 --
Stockholders' equity 18,111 49,844
------- -------
Total liabilities and
stockholders' equity $81,138 $89,674
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