Did some number crunching:
-------------------------------------- -------------------------------------- EST.
DECEMBER 26 SEPTEMBER 26 MARCH 28 DECEMBER 27 March 28
1998 1998 1998 1998 1999
----------------- -------------------- ------------------ -------------------
Net sales............................ $ 1,776,374 $ 1,392,140 $ 1,451,819 $ 1,456,725 1,690,000
Cost of sales and occupancy costs.... 1,536,611 1,195,786 1,246,634 1,241,979 1,470,300
----------------- -------------------- ------------------ -------------------
Gross profit...................... 239,763 13.5% 196,354 14.1% 205,185 14.1% 214,746 14.7% 219,700 13.0%
Operating expenses................... 170,461 9.6% 146,300 10.5% 134,190 9.2% 125,658 8.6% 169,000 10.0%
Pre-opening expenses................. 2,095 .1% 1,366 .1% 513 4,028 1,690 .1%
General and administrative expenses.. 38,358 2.2% 32,637 2.4% 27,851 2.0% 28,793 2.0% 42,250 2.5%
----------------- -------------------- ------------------ ------------------- 4,650 Charge
Operating income.................. 28,849 1.6% 16,051 1.1% 42,631 2.9% 56,267 3.8% 2,110 .4%
Other expense (income):
Interest expense.................. 6,989 .4% 4,383 .3% 3,045 .2% 3,041 .2% 6,760 .4%
Other income, net................. (3,504) .2% (1,540) .1% (1,778) .12% (2,166) .15% (3,380) .2%
----------------- -------------------- ------------------ -------------------
3,485 2,843 1,267 875 3,380
----------------- -------------------- ------------------ -------------------
Income before income taxes........... 25,364 13,208 41,364 55,392 (1,270)
Income tax expense................... 9,793 5,068 15,926 21,325 0
----------------- -------------------- ------------------ -------------------
Net income........................... $ 15,571 $ 8,140 $ 25,438 $ 34,067 (1,270)
================= ==================== ================== ===================
Basic earnings per share............. $ 0.17 $ 0.09 $ 0.28 $ 0.36 (.01)
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