MIRA
INFORM REPORT
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Report Date : |
26.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PIER 1 IMPORTS, INC. |
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Registered Office : |
100 Pier 1 Place, |
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Country : |
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Financials (as on) : |
25.02.2012 |
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Year of Establishment : |
1986 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
retailer of imported decorative home furnishings
and gifts |
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No. of Employees : |
3,500 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
--- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Pier 1 Imports, Inc.
100 Pier 1 Place
Fort Worth, TX 76102
United States
Tel: 817-252-8000
Fax: 817-252-8174
Toll Free: (800) 245-4595
Web: www.pier1.com
Synthesis
Employees: 3,500
Company Type: Public Parent
Corporate Family: 981
Companies
Traded: New
York Stock Exchange: PIR
Incorporation Date: 1986
Auditor: Ernst & Young LLP
Financials in: USD
(Millions)
Fiscal Year End:
25-Feb-2012
Reporting Currency: US
Dollar
Annual Sales: 1,533.6 1
Net Income:
168.9
Total Assets:
823.4 2
Market Value: 1,819.4
(11-May-2012)
Business Description
Pier 1 Imports, Inc. is a specialty retailer of imported decorative home
furnishings and gifts. The specialty retail operations of the Company consist
of retail stores operating under the name Pier 1 Imports, which sell a range of
furniture, decorative home furnishings, dining and kitchen goods, bath and
bedding accessories, candles, gifts and other specialty items for the home. As
of February 26, 2011 the Company had 1,046 stores, which includes 967 Pier 1
Imports stores in the United States and 79 Pier 1 Imports stores in Canada.
During the fiscal year ended February 27, 2011 (fiscal 2011), the Company
supplied merchandise and licensed the Pier 1 Imports name to Grupo Sanborns and
Sears Puerto Rico, which sold Pier 1 Imports merchandise in a store within a
store format in 38Sears Mexico stores and one store in El Salvador. For the
fiscal year ended 26 February 2011, Pier 1 Imports, Inc.'s revenues increased
8% to $1.40B. Net income decreased 15% to $100.1M. Revenues reflect an increase
in income from store sales. Net income was offset by higher selling, general
& administrative expense, an absence of gain on retirement of debt and
lower other income. Pier 1 Imports, Inc. conducts business in retail sale of
decorative home furnishings, gifts & related items.
Industry
Industry Retail (Specialty)
ANZSIC 2006: 4211 - Furniture
Retailing
NACE 2002: 5244 - Retail sale
of furniture, lighting equipment and household articles not elsewhere
classified
NAICS 2002: 44211 - Furniture
Stores
UK SIC 2003: 5244 - Retail sale
of furniture, lighting equipment and household articles not elsewhere
classified
US SIC 1987: 5712 - Furniture
Stores
Key Executives
(Emails Available)
|
Name |
Title |
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Alexander W. Smith |
President, Chief Executive Officer, Director |
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Charles H. Turner |
Chief Financial Officer, Senior Executive Vice President |
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Laura A. Coffey |
Senior Vice President - Business Development and Strategic Planning |
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Michael A. Carter |
Senior Vice President, General Counsel, Secretary |
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Susan Barley |
Chief Accounting Officer |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
Other Earnings Pre-Announcement |
3 |
Pier 1 Imports, Inc. Issues FY 2013 EPS Guidance In Line With
Analysts' Estimates; Comments On FY 2013 Comparable Store Sales Guidance |
5-Apr-2012 |
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Positive Earnings Pre-Announcement |
3 |
Pier 1 Imports, Inc. Raises Q3 2012 EPS Guidance |
1-Dec-2011 |
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Share Repurchases |
1 |
Pier 1 Imports, Inc. Announces Authorization Of New $100 Million Share
Repurchase Program |
14-Oct-2011 |
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Dividends |
1 |
Pier 1 Imports, Inc. Declares Quarterly Cash Dividend |
5-Apr-2012 |
* number of significant developments within the last 12 months
news
|
Title |
Date |
|
Critical Alerts For Monsanto, Newmont
Mining, VMWare, Equinix, and Pier 1 Imports Released By InvestorsObserver |
22-May-2012 |
|
U.S. Fund for UNICEF Announces Winners of
2012 Pier 1 Imports/UNICEF Greeting Card Contest |
21-May-2012 |
|
UGA study: Ports support 55,000 coastal
jobs |
18-May-2012 |
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Jagged Peak's eCommerce Platform Offers
Seamless 'Buy Anywhere, Fulfill Anywhere' Options |
18-May-2012 |
|
G2: Shortcuts: Saved by the gel?:
Antibacterial hand sanitiser has spread from the hospital ward to the high
street - and its producers are making a killing. But who really needs it?
Laura Barton gets the dirt |
14-May-2012 |
Financial Summary
As of 25-Feb-2012
Key Ratios Company Industry
Current Ratio (MRQ) 2.65 2.11
Quick Ratio (MRQ) 1.34 0.61
Debt to Equity (MRQ) 0.02 0.58
Sales 5 Year Growth -1.13 9.32
Net Profit Margin (TTM) % 11.02 5.93
Return on Assets (TTM) % 21.56 8.25
Return on Equity (TTM) % 37.27 15.46
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Stock Snapshot |
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ABI Number: 005930128
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
100 Pier 1 Place
Fort Worth, TX, 76102
Tarrant County
United States
Tel: 817-252-8000
Fax: 817-252-8174
Toll Free Tel: (800) 245-4595
Web: www.pier1.com
Quote Symbol - Exchange
PIR - New York
Stock Exchange
Sales USD(mil): 1,533.6
Assets USD(mil): 823.4
Employees: 3,500
Fiscal Year End: 25-Feb-2012
Industry: Retail (Specialty)
Incorporation Date: 1986
Company Type: Public
Parent
Quoted Status: Quoted
President,
Chief Executive Officer,
Director: Alexander W. Smith
Company Web Links
Corporate History/Profile
Employment Opportunities
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Additional Information
Industry Codes
ANZSIC 2006 Codes:
4279 - Other Store-Based Retailing Not Elsewhere Classified
4213 - Houseware Retailing
4211 - Furniture Retailing
4212 - Floor Coverings Retailing
NACE 2002 Codes:
5248 - Other retail sale in specialised stores
5244 - Retail sale of furniture, lighting equipment and household
articles not elsewhere classified
NAICS 2002 Codes:
453220 - Gift, Novelty, and Souvenir Stores
442299 - All Other Home Furnishings Stores
44211 - Furniture Stores
442210 - Floor Covering Stores
US SIC 1987:
5947 - Gift, Novelty, and Souvenir Shops
5719 - Miscellaneous home furnishings Stores
5712 - Furniture Stores
5713 - Floor Covering Stores
UK SIC 2003:
52489 - Other retail sale in specialised stores not elsewhere
classified
52481 - Retail sale of floor coverings
5244 - Retail sale of furniture, lighting equipment and household
articles not elsewhere classified
Business
Description
Pier 1 Imports,
Inc., incorporated in 1986, is a specialty retailer of imported decorative home
furnishings and gifts. The specialty retail operations of the Company consist
of retail stores operating under the name Pier 1 Imports, which sell a range of
furniture, decorative home furnishings, dining and kitchen goods, bath and
bedding accessories, candles, gifts and other specialty items for the home. As
of February 26, 2011 the Company had 1,046 stores, which includes 967 Pier 1
Imports stores in the United States and 79 Pier 1 Imports stores in Canada.
During the fiscal year ended February 27, 2011 (fiscal 2011), the Company
supplied merchandise and licensed the Pier 1 Imports name to Grupo Sanborns and
Sears Puerto Rico, which sold Pier 1 Imports merchandise in a store within a
store format in 38Sears Mexico stores and one store in El Salvador.
In fiscal 2011,
the Company closed 11 Pier 1 Imports stores. As of the end of fiscal 2011, the
Company operates regional distribution center facilities in or near Baltimore,
Maryland; Columbus, Ohio; Fort Worth, Texas; Ontario, California; Savannah,
Georgia; and Tacoma, Washington. The Company ceased operations at its Company-owned
514,000 square foot distribution center near Chicago, Illinois, in fiscal 2011.
During fiscal 2011, the Company supplied merchandise and licensed the Pier 1
Imports name to Grupo Sanborns, which sold Pier 1 Imports merchandise primarily
in a store within a store format in 38 Sears Mexico stores and one store in El
Salvador. Pier 1 Imports stores in the United States and Canada average
approximately 9,900 gross square feet, which includes an average of
approximately 7,900 square feet of retail selling space. The stores consist of
freestanding units located near shopping centers or malls and in-line positions
in major shopping centers. Pier 1 Imports operates in all United States
metropolitan areas and many of the primary smaller markets.
The Company’s
categories of merchandise include decorative accessories and furniture.
Decorative accessories merchandise group constitutes the category of
merchandise in Pier 1 Imports’ sales mix and contributed approximately 61% to
Pier 1 Imports’ total United States and Canadian retail sales in fiscal 2011.
These items are imported primarily from Asian and European countries, as well
as some domestic sources. This category includes decorative accents, lamps,
vases, dried and artificial flowers, baskets, ceramics, dinnerware, bath and
fragrance products, candles, bedding, seasonal and gift items.
Furniture merchandise group consists of furniture and furniture cushions
to be used in living, dining, office, kitchen and bedroom areas, sunrooms and
on patios. Also included in this group are wall decorations and mirrors. This
product group constituted approximately 39% of Pier 1 Imports’ total United
States and Canadian retail sales in fiscal year 2011. These goods are imported
from a variety of countries, such as Vietnam, Malaysia, Brazil, Thailand,
China, the Philippines, India and Indonesia. This merchandise is made of metal
or handcrafted natural materials, including rattan, pine, beech, rubberwood and
selected hardwoods with either natural, stained, painted or upholstered
finishes.
More Business
Descriptions
Pier 1 Imports,
Inc. is a specialty retailer of imported decorative home furnishings and gifts.
The specialty retail operations of the Company consist of retail stores
operating under the name Pier 1 Imports, which sell a range of furniture,
decorative home furnishings, dining and kitchen goods, bath and bedding
accessories, candles, gifts and other specialty items for the home. As of
February 26, 2011 the Company had 1,046 stores, which includes 967 Pier 1 Imports
stores in the United States and 79 Pier 1 Imports stores in Canada. During the
fiscal year ended February 27, 2011 (fiscal 2011), the Company supplied
merchandise and licensed the Pier 1 Imports name to Grupo Sanborns and Sears
Puerto Rico, which sold Pier 1 Imports merchandise in a store within a store
format in 38Sears Mexico stores and one store in El Salvador. For the fiscal
year ended 26 February 2011, Pier 1 Imports, Inc.'s revenues increased 8% to
$1.40B. Net income decreased 15% to $100.1M. Revenues reflect an increase in
income from store sales. Net income was offset by higher selling, general &
administrative expense, an absence of gain on retirement of debt and lower
other income. Pier 1 Imports, Inc. conducts business in retail sale of decorative
home furnishings, gifts & related items.
Direct Importer
& Retailer of Decorative Home Furnishings & Furniture
Establishments
primarily engaged in the retail sale of household furniture. These stores may
also sell home furnishings, major appliances, and floor coverings.
On March 20 2006
we announced the sale of our United Kingdom subsidiary The Pier to Palli
Limited a wholly owned subsidiary of Lagerinn ehf. As of February 25 2006 Pier
1 operated over 40 The Pier stores and concessions located in the United
Kingdom and Ireland.
Pier 1 Imports,
Inc. (Pier) is principally involved in the importing and retailing of
decorative home furnishings, gifts and related items. It directly imports
merchandise from many countries across the world, and sells various decorative
accessories, bed and bath products, furniture collections, candles, housewares
and other seasonal assortments through its stores. The company operates with
single operating segment, namely, specialty retailer. Pier's merchandise
includes over 5,000 items imported from many countries across the world. It
also sources its merchandise from domestic operators. The company classifies
its merchandise into two categories, namely, Decorative Accessories and
Furniture. For the fiscal year ended February 2011, the Decorative Accessories
category contributed 61% of the total US and Canadian retail sales while the
rest 39% was contributed by the Furniture category. The company in its
Decorative Accessories category offers lamps, decorative wood accessories,
dried and artificial flowers, vases, baskets, ceramics, dinnerware, bath
accessories, fragrance products, candles, epicurean products, rugs, pillows,
window curtains, bedding, seasonal items and gift items. The company imports
these goods mostly from the Asian and European countries, as well as from some
domestic sources. In the Furniture category, the company offers furniture and
furniture cushions, which are used in living, dining, office, kitchen and
bedroom areas, sunrooms, and on patios. It also offers wall decorations and
mirrors. The company imports furniture category merchandise from various
countries, which includes Vietnam, Malaysia, Brazil, Thailand, China, the
Philippines, India and Indonesia. The company also sources its merchandise from
domestic sources. The furniture offered by the company is made from metal or
from handcrafted natural materials, which includes rattan, beech, pine, rubber
wood and selected hardwoods, with either natural, stained, painted or
upholstered finishes. As of February 26, 2011, the company operated a total of
1,046 Pier 1 Import stores of which 967 stores operated across the US and 79
stores in Canada. The company also issues franchise licenses and generates
revenues through royalties and related fees. In addition, the company has
merchandise in 'store within a store'’ locations in Puerto Rico and Mexico,
which are operated by Sears Roebuck de Mexico, S.A. de C.V., and Sears Roebuck
de Puerto Rico, Inc., respectively. As of February 26, 2011, it supplied
merchandise and licensed the Pier 1 Imports name to Grupo Sanborns and Sears
Puerto Rico, which sold Pier 1 Imports merchandise in a 'store within a store'
format in 38 Sears Mexico stores and Sears El Salvador store.
Pier 1 Imports,
Inc. (Pier) is a specialty retailer of decorative home furnishings, gifts and
related items. The company's stores offer furniture, decorative home
furnishings, dining and kitchen goods, bath and bedding accessories, candles,
gifts, and other specialty items for the home. The company operates its stores
under the name ‘Pier 1 Imports’. As of February 26, 2011, it operated 967
Pier 1 Imports stores in the US and 79 Pier 1 Imports stores in Canada. Its
Pier 1 Imports stores average approximately 9,900 gross square feet, which
includes an average of approximately 7,900 square feet of retail selling space.
The company stores are located in both metropolitan markets as well as in
smaller markets. Pier merchandise comprises of nearly 5,000 items imported from
many countries across the world. The company is headquartered in Fort Worth,
Texas, the US.The company reported revenues of (U.S. Dollars) USD 1,396.47
million during the fiscal year ended February 2011, an increase of 8.18% over
2010. The operating profit of the company was USD 103.75 million during the
fiscal year 2011, an increase of 83.95% over 2010. The net profit of the
company was USD 100.13 million during the fiscal year 2011, an increase of
15.29% over 2010.
Pier 1 Imports
started as a single store in San Mateo, Calif., in 1962. Its customers were
post-World War II baby boomers looking for beanbag chairs, love beads and
incense. The company is one of North America's largest specialty home fashion
retailers with 1,200 stores worldwide. Pier 1 Imports sells decorative home
furnishings, gifts and related items directly imported from more than 50
countries. It is one of the world's largest importers of rattan and brass. The
company has headquarters in Fort Worth, Texas, and stores in 49 states, Puerto
Rico, Canada, Mexico and England. It also has Pier 1 Kids stores throughout the
United States.
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Credit Report as of 11/01/2011
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Location |
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100 Pier 1 Pl |
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County: |
Tarrant |
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MSA: |
Dallas, TX |
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Phone: |
817-252-6000 |
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Fax: |
817-252-8174 |
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URL: |
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ABI: |
005930128 |
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Annual Sales: |
$1,396,500,000 (USD) |
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Employees: |
17,000 |
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Facility Size(ft2): |
40,000+ |
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Facility Own/Lease: |
Lease |
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Business Type: |
Public |
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Location Type: |
Headquarter |
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Ticker: |
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Exchange: |
NYSE |
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Primary Line of
Business: |
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SIC: |
5712-16 - Furniture-Dealers-Retail |
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NAICS: |
442110 - Furniture Stores |
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Secondary Lines
of Business: |
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SICs: |
5311-02 - Department Stores |
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5712-19 - House Furnishings-Retail |
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8742-13 - Marketing Programs & Services |
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NAICS: |
452111 - Department Stores, Except Discount |
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541613 - Marketing Consulting Svcs |
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Corporate
Family |
Corporate
Structure News: |
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Pier 1 Imports, Inc. |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Fort Worth, TX |
United States |
Retail (Specialty) |
1,533.6 |
3,500 |
|
|
Branch |
Aberdeen, MD |
United States |
Retail (Department and Discount) |
24.3 |
150 |
|
|
Branch |
Ontario, CA |
United States |
Miscellaneous Capital Goods |
103.8 |
110 |
|
|
Branch |
Mansfield, TX |
United States |
Retail (Specialty) |
30.6 |
100 |
|
|
Branch |
Grove City, OH |
United States |
Miscellaneous Capital Goods |
75.5 |
80 |
|
|
Branch |
Wenatchee, WA |
United States |
Retail (Specialty) |
24.5 |
80 |
|
|
Branch |
Clarksburg, WV |
United States |
Retail (Specialty) |
11.6 |
38 |
|
|
Branch |
Henderson, NV |
United States |
Retail (Specialty) |
10.7 |
35 |
|
|
Branch |
Acton, MA |
United States |
Retail (Specialty) |
9.2 |
30 |
|
|
Branch |
Las Vegas, NV |
United States |
Retail (Specialty) |
9.2 |
30 |
|
|
Branch |
Modesto, CA |
United States |
Retail (Specialty) |
9.2 |
30 |
|
|
Branch |
Danvers, MA |
United States |
Retail (Specialty) |
9.2 |
30 |
|
|
Branch |
Richfield, MN |
United States |
Retail (Specialty) |
9.2 |
30 |
|
|
Branch |
Kailua, HI |
United States |
Retail (Specialty) |
9.2 |
30 |
|
|
Branch |
Carle Place, NY |
United States |
Retail (Specialty) |
8.6 |
28 |
|
|
Branch |
Dallas, TX |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Cincinnati, OH |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Long Beach, CA |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Greenville, SC |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Watchung, NJ |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Doral, FL |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Rockaway, NJ |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Durango, CO |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Royal Oak, MI |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Burlington, VT |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Fargo, ND |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Rocky Point, NY |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
New York, NY |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Honolulu, HI |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Kahului, HI |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Maple Grove, MN |
United States |
Retail (Specialty) |
7.7 |
25 |
|
|
Branch |
Slidell, LA |
United States |
Retail (Specialty) |
7.3 |
24 |
|
|
Branch |
Burnsville, MN |
United States |
Retail (Specialty) |
7.0 |
23 |
|
|
Branch |
Palm Beach Gdns, FL |
United States |
Retail (Specialty) |
7.0 |
23 |
|
|
Branch |
St Paul, MN |
United States |
Retail (Specialty) |
7.0 |
23 |
|
|
Branch |
Bridgewater, NJ |
United States |
Retail (Specialty) |
6.7 |
22 |
|
|
Branch |
New Hyde Park, NY |
United States |
Retail (Specialty) |
6.7 |
22 |
|
|
Branch |
Los Angeles, CA |
United States |
Retail (Specialty) |
6.7 |
22 |
|
|
Branch |
Southampton, NY |
United States |
Retail (Specialty) |
6.7 |
22 |
|
|
Branch |
Willow Grove, PA |
United States |
Retail (Specialty) |
6.7 |
22 |
|
|
Branch |
Lynchburg, VA |
United States |
Retail (Specialty) |
6.4 |
21 |
|
|
Branch |
Gaithersburg, MD |
United States |
Retail (Specialty) |
6.4 |
21 |
|
|
Branch |
San Jose, CA |
United States |
Retail (Specialty) |
6.4 |
21 |
|
|
Branch |
Greendale, WI |
United States |
Retail (Specialty) |
6.4 |
21 |
|
|
Branch |
Topeka, KS |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Yonkers, NY |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
San Antonio, TX |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Green Bay, WI |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Allen, TX |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Milwaukee, WI |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Woburn, MA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Tallahassee, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Roseville, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Rehoboth Beach, DE |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Savannah, GA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Hanover, MA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Eden Prairie, MN |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Philadelphia, PA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Miami Beach, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Coral Gables, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Dublin, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Staten Island, NY |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Waldorf, MD |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Tulsa, OK |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
San Diego, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Altamonte Spgs, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Clearwater, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Kenosha, WI |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Riverside, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Catonsville, MD |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Columbus, OH |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Rancho Cucamonga, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Manhattan, KS |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Studio City, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Clovis, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
San Francisco, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Rockville, MD |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Las Vegas, NV |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Manhattan Beach, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Indianapolis, IN |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Pacific Grove, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Brookfield, WI |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Reading, PA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Springfield, NJ |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Key West, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Central Valley, NY |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Los Gatos, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Tampa, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Camp Hill, PA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Woodcliff Lake, NJ |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Hilton Head Isle, SC |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Canoga Park, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Atlanta, GA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Brunswick, GA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Issaquah, WA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Folsom, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Fayetteville, NC |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Mcallen, TX |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Tustin, CA |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Branch |
Miami, FL |
United States |
Retail (Specialty) |
6.1 |
20 |
|
|
Subsidiary |
Toronto, ON |
Canada |
Retail (Department and Discount) |
|
20 |
|
|
Branch |
Mt Pleasant, SC |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Granger, IN |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Manchester, NH |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Georgetown, TX |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Fort Myers, FL |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
King Of Prussia, PA |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Watauga, TX |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Frederick, MD |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
North Dartmouth, MA |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Cary, NC |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Fort Lauderdale, FL |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Wilmington, NC |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Woodbridge, NJ |
United States |
Retail (Specialty) |
5.8 |
19 |
|
|
Branch |
Hagerstown, MD |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
New Orleans, LA |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Centerville, UT |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Alpharetta, GA |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Holyoke, MA |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Flushing, NY |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Shreveport, LA |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Glendale, CA |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Chesterfield, MO |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Jensen Beach, FL |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Traverse City, MI |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Pembroke Pines, FL |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Salisbury, MD |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
St Petersburg, FL |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Chesterfield, MI |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Cambridge, MA |
United States |
Retail (Specialty) |
5.5 |
18 |
|
|
Branch |
Sioux Falls, SD |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Denville, NJ |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Germantown, WI |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Spokane, WA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Nashua, NH |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Baton Rouge, LA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Morgantown, WV |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Bellingham, MA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Manasquan, NJ |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Indianapolis, IN |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Corpus Christi, TX |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Rancho Sta Marg, CA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Beavercreek, OH |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Hyannis, MA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Atlanta, GA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Fort Worth, TX |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
La Mesa, CA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Bakersfield, CA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Lincoln, NE |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Miami, FL |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Wichita Falls, TX |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Coralville, IA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Boynton Beach, FL |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Rochester, NY |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Vienna, VA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Phoenix, AZ |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Trenton, NJ |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Daytona Beach, FL |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Whitehall, PA |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Bowie, MD |
United States |
Retail (Specialty) |
5.2 |
17 |
|
|
Branch |
Newark, DE |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Fairfax, VA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Santa Rosa, CA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Birmingham, AL |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Ogden, UT |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Jacksonville, NC |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
North Olmsted, OH |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Dickson City, PA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Cincinnati, OH |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Montgomeryville, PA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Wellington, FL |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Madison, WI |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Silverdale, WA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Cheektowaga, NY |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Cleveland, OH |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
St Cloud, MN |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Sheboygan Falls, WI |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Wilsonville, OR |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Easton, PA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Canton, MI |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Annapolis, MD |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Danbury, CT |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Milwaukee, WI |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Victor, NY |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Vero Beach, FL |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Canton, OH |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Coral Springs, FL |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Durango, CO |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Shoreline, WA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Toms River, NJ |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Redmond, WA |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Johnson City, TN |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Sunset Valley, TX |
United States |
Retail (Specialty) |
4.9 |
16 |
|
|
Branch |
Towson, MD |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Chicago, IL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
El Paso, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Youngstown, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Lake Grove, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Wyoming, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Denver, CO |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Marquette, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Sioux City, IA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
White Plains, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Winter Park, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Lone Tree, CO |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Surprise, AZ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Pittsburgh, PA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Monaca, PA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Frisco, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Hillsboro, OR |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Concord, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Grand Rapids, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Greensboro, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Gig Harbor, WA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Indianapolis, IN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Mchenry, IL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Braintree, MA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Newington, CT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Glen Allen, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Fairview Heights, IL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Charleston, SC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Madison, WI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Jacksonville, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Valencia, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
York, PA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Charlotte, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Louisville, KY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Palm Desert, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Shawnee, KS |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Knoxville, TN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Goodyear, AZ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Chesapeake, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Edmond, OK |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Novato, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Coeur D Alene, ID |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Stillwater, MN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Sturbridge, MA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Shakopee, MN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Newport Beach, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Hopkins, MN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Kalispell, MT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Lady Lake, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Wilmington, DE |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Lafayette, LA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Fort Wayne, IN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Ocean, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Walnut Creek, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Miami, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Port Charlotte, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Shrewsbury, MA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Vacaville, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Taylor, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Sarasota, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Branford, CT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Hoover, AL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Toledo, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Abilene, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Scottsdale, AZ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Hamden, CT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Charlotte, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Toledo, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Overland Park, KS |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Metairie, LA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Baton Rouge, LA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Lubbock, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Kansas City, MO |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
New Hartford, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Capitola, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Asheville, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Edgewater, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Greenville, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Carson City, NV |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Jersey City, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Southfield, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Keene, NH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Hurst, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Jacksonville Bch, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Round Rock, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Cape May Ct Hse, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Vestavia, AL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Cleveland, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Janesville, WI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Mckinney, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Kingston, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Tucson, AZ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Olathe, KS |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Costa Mesa, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Tonawanda, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
St Joseph, MO |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Jacksonville, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Buffalo, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Carmel, IN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Long Beach, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Brookline, MA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Norwood, MA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Chico, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Charlottesville, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Ocala, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
St Petersburg, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Avon, CT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Buford, GA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
West Bend, WI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Bozeman, MT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Norwalk, CT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Findlay, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Troy, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Melbourne, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Rossford, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Southbury, CT |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Petoskey, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Secaucus, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Clive, IA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Plano, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
San Antonio, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Baltimore, MD |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Venice, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Fort Worth, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Phillipsburg, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Stillwater, OK |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Lansing, MI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Rochester, MN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Paramus, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Huntersville, NC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Flanders, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Exton, PA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Deer Park, IL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Las Vegas, NV |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Appleton, WI |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Tucson, AZ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Nashville, TN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Alexandria, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Palm Harbor, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
North Charleston, SC |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Leesburg, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Scottsdale, AZ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
East Hanover, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Cuyahoga Falls, OH |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Albany, NY |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Davie, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Roanoke, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Brandon, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
North Attleboro, MA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Columbia, MD |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Fayetteville, GA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Escondido, CA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Macon, GA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Gulfport, MS |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Wilkes Barre, PA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Rockwall, TX |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Pasadena, MD |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Woodbridge, VA |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Freehold, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Deptford, NJ |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Duluth, MN |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Sanford, FL |
United States |
Retail (Specialty) |
4.6 |
15 |
|
|
Branch |
Pensacola, FL |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Minnetonka, MN |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Chattanooga, TN |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Great Falls, MT |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Virginia Beach, VA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Orlando, FL |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Rolling Hls Ests, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Elk Grove, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Paso Robles, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Bedford Hills, NY |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Commack, NY |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Wichita, KS |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Arden, NC |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Cherry Hill, NJ |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
East Syracuse, NY |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Rochester, NY |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Salt Lake City, UT |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Raleigh, NC |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Marietta, GA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Merced, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Northville, MI |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
West Chester, OH |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Tavernier, FL |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Owasso, OK |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
North Andover, MA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Allen Park, MI |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Lompoc, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Freeport, NY |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Nashville, TN |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Dallas, TX |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Rocky Mount, NC |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Fort Collins, CO |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Flemington, NJ |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Oklahoma City, OK |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Morristown, TN |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Flagstaff, AZ |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Turlock, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Tampa, FL |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Culver City, CA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Sandy, UT |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Harrisburg, PA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Pineville, NC |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Lexington, KY |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Murfreesboro, TN |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Kansas City, MO |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Comstock Park, MI |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Hanover, PA |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Springfield, MO |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Columbus, OH |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Portland, OR |
United States |
Retail (Specialty) |
4.3 |
14 |
|
|
Branch |
Mcminnville, OR |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Littleton, CO |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Fairless Hills, PA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Harper Woods, MI |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Phoenix, AZ |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Evansville, IN |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Lansing, MI |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Kissimmee, FL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Richmond, VA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Ventura, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Columbus, OH |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Christiansburg, VA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Wausau, WI |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Madison, TN |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Montclair, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Merritt Island, FL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Ankeny, IA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Flower Mound, TX |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Riverhead, NY |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Algonquin, IL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
West Jordan, UT |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Osage Beach, MO |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
St George, UT |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Paramus, NJ |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Federal Way, WA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Chicago Ridge, IL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Tupelo, MS |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Pittsfield, MA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Holland, MI |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Lakewood, WA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Colma, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Cupertino, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Sacramento, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Knoxville, TN |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Tucson, AZ |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Massapequa Park, NY |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Waterford, CT |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Valparaiso, IN |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Durham, NC |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Millbury, MA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Meridian, ID |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Corona, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Oro Valley, AZ |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Salem, NH |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Manassas, VA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Saginaw, MI |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Clay, NY |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Alexandria, LA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Albuquerque, NM |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Temecula, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Austin, TX |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Huntsville, AL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Fredericksburg, VA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
West Lebanon, NH |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Phoenix, AZ |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Anchorage, AK |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Emeryville, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Webster, NY |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Boca Raton, FL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Northridge, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Dothan, AL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Tuscaloosa, AL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Spokane, WA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Anaheim, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Falls Church, VA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Memphis, TN |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
St Matthews, KY |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Ithaca, NY |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Jacksonville, FL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Monroe, LA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Bismarck, ND |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Riverside, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Huntington Beach, CA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Cedar Hill, TX |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Seekonk, MA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Nashua, NH |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Merrillville, IN |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Fairlawn, OH |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Medford, OR |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Cranberry Twp, PA |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Oak Park, IL |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Avon, OH |
United States |
Retail (Specialty) |
4.0 |
13 |
|
|
Branch |
Davenport, IA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Encinitas, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Greensburg, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Vienna, WV |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Shrewsbury, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Pasadena, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Dover, DE |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Winchester, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Concord, NC |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Orlando, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Las Vegas, NV |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Decatur, AL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fayetteville, AR |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fort Myers, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Conroe, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Madison, WI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bellevue, WA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Charlotte, NC |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Melbourne, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Webster, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fontana, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Salinas, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Austin, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Jefferson City, MO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Virginia Beach, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Aurora, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Niles, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Ypsilanti, MI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Winter Haven, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Rockford, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Laguna Niguel, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Noblesville, IN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Orlando, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Waco, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Mesquite, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Grove City, OH |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Santa Monica, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Flint, MI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Leominster, MA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Phoenix, AZ |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Austin, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Forsyth, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Atlantic Beach, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Decatur, GA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Spring Valley, NY |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Citrus Heights, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Naples, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Medina, OH |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Pompano Beach, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Orem, UT |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Port St Lucie, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Lakewood, CO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Salem, OR |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
San Diego, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Paoli, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Lees Summit, MO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Warner Robins, GA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Springfield, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Colorado Springs, CO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Redding, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Stockton, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fenton, MI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Minneapolis, MN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fairfield, CT |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Tampa, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Augusta, ME |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Pearland, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Anderson, SC |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Trinity, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Falmouth, MA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Columbia, SC |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Gambrills, MD |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Mansfield, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Marion, IA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Redlands, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bohemia, NY |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Milford, CT |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Holmdel, NJ |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Petaluma, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Monroe, NC |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Carlisle, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Springfield, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
St Peters, MO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Buffalo, NY |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Beaverton, OR |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Battle Creek, MI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
San Antonio, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Sandusky, OH |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bourbonnais, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Clifton Park, NY |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Joplin, MO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Mankato, MN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Irving, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Franklin, TN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Mesa, AZ |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Twin Falls, ID |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Panama City, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fresno, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Douglasville, GA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bel Air, MD |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Park City, UT |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Springfield, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Pittsburgh, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Blawnox, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Fond Du Lac, WI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Norton Shores, MI |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Glen Allen, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Baytown, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Broomfield, CO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Kerrville, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Delray Beach, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Jackson, TN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Victorville, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Champaign, IL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Gresham, OR |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Hattiesburg, MS |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Lodi, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Estero, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bend, OR |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Altoona, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Monroeville, PA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Torrance, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Colonial Heights, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Albuquerque, NM |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Camarillo, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
La Canada Fltrdg, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Chesapeake, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Palmdale, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Cleveland, OH |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Largo, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Larchmont, NY |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Plainfield, IN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Houma, LA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Harrisonburg, VA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bradenton, FL |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Selma, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Huntington Sta, NY |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Enfield, CT |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Oklahoma City, OK |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Eagan, MN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Columbia, MO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Memphis, TN |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Myrtle Beach, SC |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Foster City, CA |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Avon, CO |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Southlake, TX |
United States |
Retail (Specialty) |
3.7 |
12 |
|
|
Branch |
Bloomington, IN |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Dayton, OH |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Hemet, CA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
California, MD |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Colorado Springs, CO |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Humble, TX |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Chino, CA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Waterloo, IA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Lancaster, PA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Laurel, MD |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Lexington, KY |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Meriden, CT |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Midlothian, VA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Flowood, MS |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Alexandria, VA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Glastonbury, CT |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Ridgeland, MS |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Santa Maria, CA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Tyler, TX |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Grand Junction, CO |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Rome, GA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Florissant, MO |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Arlington, TX |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Plymouth, MA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Spartanburg, SC |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Greensboro, NC |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Pasadena, CA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Kalamazoo, MI |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Downey, CA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Bristol, CT |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Boise, ID |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Erie, PA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Germantown, TN |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Bogart, GA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Chicago, IL |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Grand Forks, ND |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
St Paul, MN |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Cranston, RI |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Las Cruces, NM |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Mohegan Lake, NY |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Hendersonville, NC |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Niles, OH |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Manchester, CT |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Sebring, FL |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Hampton, VA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Tukwila, WA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Washington, PA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Independence, MO |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Olympia, WA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Chandler, AZ |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Gastonia, NC |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Peoria, IL |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Valdosta, GA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Kennewick, WA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Goshen, IN |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Lynnwood, WA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Baltimore, MD |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Carbondale, IL |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Gainesville, FL |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Temple, TX |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Long Beach, CA |
United States |
Retail (Specialty) |
3.4 |
11 |
|
|
Branch |
Rapid City, SD |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Clarksville, TN |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
St Paul, MN |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Lakeland, FL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Matthews, NC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Rogers, AR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Arlington, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Harvey, LA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bloomingdale, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Palm Springs, FL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bowling Green, KY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Morehead City, NC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Collierville, TN |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Little Rock, AR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Santee, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Mcdonough, GA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bakersfield, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Burlington, WA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bloomington, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Albany, GA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Oceanside, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Naples, FL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Saratoga Springs, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Manahawkin, NJ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Visalia, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Newburgh, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Gainesville, VA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Roseburg, OR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Columbia, SC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bellingham, WA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Dekalb, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
West Hartford, CT |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Foley, AL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
La Jolla, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Daphne, AL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Marietta, GA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Louisville, KY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Vernon Hills, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Port Richey, FL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Raleigh, NC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Middletown, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Fort Smith, AR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Batavia, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Eugene, OR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Kansas City, MO |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Upper Marlboro, MD |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Chula Vista, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Covington, WA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Watertown, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Barboursville, WV |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Tempe, AZ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Chino, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Portland, OR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Glenview, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Vallejo, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Austin, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Thousand Oaks, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Poughkeepsie, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
San Jose, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Antioch, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Conroe, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Silver Spring, MD |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Gilroy, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Galveston, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Las Vegas, NV |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
College Station, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Hadley, MA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Atlanta, GA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Columbia, SC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Kemah, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Gurnee, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Burleson, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
La Crosse, WI |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Tulsa, OK |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
San Leandro, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Happy Valley, OR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
San Clemente, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Sterling Heights, MI |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Dallas, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Billings, MT |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Fort Wayne, IN |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Westminster, MD |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Lewisville, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Benton Harbor, MI |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Jonesboro, AR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Kokomo, IN |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Skokie, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Stroudsburg, PA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Elmhurst, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bolingbrook, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
West Palm Beach, FL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
N Little Rock, AR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Bay Shore, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Idaho Falls, ID |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Tampa, FL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Muncy, PA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Missoula, MT |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Covington, LA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Peoria, AZ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Sterling, VA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Vestavia, AL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Amarillo, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Peoria, AZ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
El Cerrito, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
San Antonio, TX |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Huntsville, AL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Princeton, NJ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Mt Laurel, NJ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Del Mar, CA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Chicago, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Joliet, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Boulder, CO |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Everett, WA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Puyallup, WA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Auburn, AL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Snellville, GA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Vestal, NY |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Winston Salem, NC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Phoenix, AZ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Albuquerque, NM |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Auburn Hills, MI |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
St Clairsville, OH |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Mays Landing, NJ |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Orland Park, IL |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Lafayette, IN |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Gainesville, GA |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Hot Springs, AR |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Southern Pines, NC |
United States |
Retail (Specialty) |
3.1 |
10 |
|
|
Branch |
Atlanta, GA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Texarkana, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Scottsdale, AZ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Falls Church, VA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Dubuque, IA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Wichita, KS |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
East Brunswick, NJ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Montgomery, AL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Pearl City, HI |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Chicago, IL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Mobile, AL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Prescott, AZ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
High Point, NC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Yuba City, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Lewiston, ID |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Cookeville, TN |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Hiram, GA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Cartersville, GA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Plantation, FL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Easton, MD |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Bluffton, SC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Newport News, VA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Cypress, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Mundelein, IL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Williamsburg, VA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Holladay, UT |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Omaha, NE |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Pottstown, PA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Old Saybrook, CT |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Gilbert, AZ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Rock Hill, SC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Walnut, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Eureka, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Lake Forest, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Feastervl Trvs, PA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Columbus, OH |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Concord, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Farmington Hills, MI |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Greenwood, SC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Rego Park, NY |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Brighton, MI |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Bronx, NY |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Victoria, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Burlington, NC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Fort Worth, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Lisbon, CT |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Lake Charles, LA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Hickory, NC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
St Augustine, FL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Dallas, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Kansas City, MO |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Mooresville, NC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Las Vegas, NV |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Howell, NJ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Simpsonville, SC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Conway, AR |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Summerville, SC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Glen Mills, PA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Mesa, AZ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Raleigh, NC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Union Gap, WA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Rochester Hills, MI |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Stafford, VA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Glenwood Springs, CO |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Taunton, MA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Dupont, WA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Florence, KY |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Laredo, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Chicago, IL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Mill Creek, WA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Lancaster, OH |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Tacoma, WA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Riverdale, NJ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Clifton, NJ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Howell, MI |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Chula Vista, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Somers Point, NJ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Fort Worth, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Mission Viejo, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Reno, NV |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Garland, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Pittsburgh, PA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
La Grange, IL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Fountain Hills, AZ |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Columbus, GA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Newtown, PA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Midland, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Wilmington, NC |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Midland, MI |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Elizabethtown, KY |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
St Louis, MO |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Brea, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Norman, OK |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Helena, MT |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Aliso Viejo, CA |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Shawnee Mission, KS |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Westminster, CO |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Miami, FL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Burleson, TX |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
St Petersburg, FL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
Orlando, FL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
University Park, FL |
United States |
Retail (Specialty) |
2.8 |
9 |
|
|
Branch |
San Francisco, CA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Frankfort, KY |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
N Chesterfield, VA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Encino, CA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
South Elgin, IL |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Denton, TX |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Augusta, GA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Loveland, CO |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Machesney Park, IL |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Cheshire, CT |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Southaven, MS |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
New Orleans, LA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
South Lake Tahoe, CA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Portland, OR |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Kelso, WA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Cumming, GA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Manteca, CA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
El Paso, TX |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Thornton, CO |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Norfolk, VA |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Wheaton, IL |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
South Charleston, WV |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Fenton, MO |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Owensboro, KY |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Warsaw, IN |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
San Angelo, TX |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Longview, TX |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Sugar Land, TX |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Santa Fe, NM |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Yuma, AZ |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Kingsport, TN |
United States |
Retail (Specialty) |
2.4 |
8 |
|
|
Branch |
Paducah, KY |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Sacramento, CA |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Cheyenne, WY |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Lombard, IL |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Ballwin, MO |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Seattle, WA |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
New Bern, NC |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Omaha, NE |
United States |
Retail (Specialty) |
2.1 |
7 |
|
|
Branch |
Westport, CT |
United States |
Retail (Specialty) |
2.1 |
7 |
Competitors Report
|
Company Name |
Location |
Employees |
Ownership |
|
Archer Daniels Midland Company |
Decatur, Illinois, United States |
30,000 |
Public |
|
Bed Bath & Beyond Inc. |
Union, New Jersey, United States |
48,000 |
Public |
|
Cost Plus, Inc. |
Oakland, California, United States |
1,941 |
Public |
|
Euromarket Designs, Inc. |
Northbrook, Illinois, United States |
600 |
Private |
|
Garden Ridge Corporation |
Houston, Texas, United States |
300 |
Private |
|
IKEGAMI TSUSHINKI CO., LTD. |
Tokyo, Japan |
957 |
Public |
|
Jennifer Convertibles, Inc. |
Woodbury, New York, United States |
417 |
Public |
|
Jo-Ann Stores Inc. |
Hudson, Ohio, United States |
21,453 |
Public |
|
Kirkland's, Inc. |
Nashville, Tennessee, United States |
4,392 |
Public |
|
Koninklijke Philips Electronics NV |
Amsterdam, Netherlands |
122,008 |
Public |
|
Kresta Holdings Limited |
Malaga, Western Australia, Australia |
907 |
Public |
|
Michaels Stores Inc |
Irving, Texas, United States |
10,700 |
Private |
|
Sears Holdings Corporation |
Hoffman Estates, Illinois, United States |
293,000 |
Public |
|
Staples, Inc. |
Framingham, Massachusetts, United States |
51,542 |
Public |
|
SYSCO Corporation |
Houston, Texas, United States |
46,000 |
Public |
|
Target Corporation |
Minneapolis, Minnesota, United States |
365,000 |
Public |
|
The Container Store Inc |
Coppell, Texas, United States |
1,000 |
Private |
|
The Procter & Gamble Company |
Cincinnati, Ohio, United States |
129,000 |
Public |
|
Tuesday Morning Corporation |
Dallas, Texas, United States |
1,900 |
Public |
|
Wal-Mart Stores, Inc. |
Bentonville, Arkansas, United States |
2,200,000 |
Public |
|
Williams-Sonoma, Inc. |
San Francisco, California, United States |
6,700 |
Public |
Executive report
|
Board
of Directors |
|
|
|
|
||||||||||||
|
Independent Non-Executive Chairman of the
Board |
Chairman |
|
||||||||||||
|
|||||||||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
President, Chief Executive Officer,
Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Independent Director |
Director/Board Member |
|
|
|||||||||||
|
|||||||||||||||
|
Executives |
|
|
|
|
||||||||||||
|
President, Chief Executive Officer,
Director |
Chief Executive Officer |
|
||||||||||||
|
|||||||||||||||
|
General Manager of Dc |
Division Head Executive |
|
|
|||||||||||
|
Divisional Human Resources Manager |
Division Head Executive |
|
|
|||||||||||
|
Senior Manager Store Operations |
Operations Executive |
|
|
|||||||||||
|
Manager-Product Placement |
Operations Executive |
|
|
|||||||||||
|
Supervisor, Data Center Operations |
Operations Executive |
|
|
|||||||||||
|
Enterprise Storage Admin |
Administration Executive |
|
|
|||||||||||
|
Senior Vice President, General Counsel,
Secretary |
Company Secretary |
|
|
|||||||||||
|
|||||||||||||||
|
Executive Vice President of Legal Affairs,
Chief Legal Officer and Corporate Secretary |
Company Secretary |
|
|
|||||||||||
|
Information Technology Finance Specialist |
Finance Executive |
|
|
|||||||||||
|
Finance |
Finance Executive |
|
|
|||||||||||
|
Chief Financial Officer, Senior Executive
Vice President |
Finance Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Chief Accounting Officer |
Accounting Executive |
|
|
|||||||||||
|
Director Internal Audit, Information
Technology |
Accounting Executive |
|
|
|||||||||||
|
Manager Sales Audit |
Accounting Executive |
|
|
|||||||||||
|
Cash Manager |
Cash Management Executive |
|
|
|||||||||||
|
Director - Tax |
Corporate Tax Executive |
|
|
|||||||||||
|
Vice President and Treasurer |
Treasurer |
|
|
|||||||||||
|
|||||||||||||||
|
Director of Compensation |
Benefits & Compensation Executive |
|
|
|||||||||||
|
Director Compensation and Hris |
Benefits & Compensation Executive |
|
|
|||||||||||
|
Hris Analyst |
Human Resources Executive |
|
|
|||||||||||
|
Manager Human Resources |
Human Resources Executive |
|
|
|||||||||||
|
Executive Vice President - Human Resources |
Human Resources Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Human Resources-Savannah |
Human Resources Executive |
|
|
|||||||||||
|
Human Resources-Seattle Wa |
Human Resources Executive |
|
|
|||||||||||
|
Human Resources Manager |
Human Resources Executive |
|
|
|||||||||||
|
Human Resources Generalist |
Human Resources Executive |
|
|
|||||||||||
|
Manager Hris |
Human Resources Executive |
|
|
|||||||||||
|
Human Resources Manager |
Human Resources Executive |
|
|
|||||||||||
|
Director International Transportation |
International Executive |
|
|
|||||||||||
|
Export Compliance |
International Executive |
|
|
|||||||||||
|
Interactive Media Marketing Manager |
Marketing Executive |
|
|
|||||||||||
|
Senior Vice President - Marketing and
Visual Merchandising |
Marketing Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Marketing Coordinator |
Marketing Executive |
|
|
|||||||||||
|
Director-Marketing |
Marketing Executive |
|
|
|||||||||||
|
Vice President of Marketing |
Marketing Executive |
|
|
|||||||||||
|
Manager, Systems Support |
Information Executive |
|
|
|||||||||||
|
Manager Information Security and Amp
Compliance |
Information Executive |
|
|
|||||||||||
|
Information Systems Manager |
Network Management Executive |
|
|
|||||||||||
|
Web Production Designer |
Network Management Executive |
|
|
|||||||||||
|
ManAger - UNIX Technology and Enterprise
Storage |
Engineering/Technical Executive |
|
|
|||||||||||
|
Trade and Tariff Engineer |
Engineering/Technical Executive |
|
|
|||||||||||
|
Senior Vice President - Business
Development and Strategic Planning |
Business Development Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Senior Business Analyst |
Business Development Executive |
|
|
|||||||||||
|
Senior Business Analyst-Dc, Transportation |
Business Development Executive |
|
|
|||||||||||
|
Executive Vice President - Planning and
Allocations |
Planning Executive |
|
|
|||||||||||
|
|||||||||||||||
|
Director of Store Planning, Property
Development |
Planning Executive |
|
|
|||||||||||
|
Compliance Manager |
Legal Executive |
|
|
|||||||||||
|
Manager Merchandise Compliance |
Legal Executive |
|
|
|||||||||||
|
Senior Manager of Merchandise Compliance
& Regulations |
Legal Executive |
|
|
|||||||||||
|
Corporate Counsel |
Legal Executive |
|
|
|||||||||||
|
Import Compliance Specialist |
Legal Executive |
|
|
|||||||||||
|
Production Control Supervisor |
Manufacturing Executive |
|
|
|||||||||||
|
Property Coordinator |
Facilities Executive |
|
|
|||||||||||
|
Property Coordinator |
Facilities Executive |
|
|
|||||||||||
|
Property Coordinator |
Facilities Executive |
|
|
|||||||||||
|
Real Estate Manager Southeast |
Facilities Executive |
|
|
|||||||||||
|
Director Supply Chain |
Purchasing Executive |
|
|
|||||||||||
|
Manager, Health-Welfare and Associate
Services |
Medical Specialist |
|
|
|||||||||||
|
Manager of Asset Protection Support |
Other |
|
|
|||||||||||
|
Director of Reporting & Compliance |
Other |
|
|
|||||||||||
|
Director of New Store Development |
Other |
|
|
|||||||||||
|
Manager, Business Analytic Applications |
Other |
|
|
|||||||||||
|
Regional Manager, New Jersey South |
Other |
|
|
|||||||||||
|
Executive Vice President - Merchandising |
Other |
|
|
|||||||||||
|
|||||||||||||||
|
Organizational Development Spec. |
Other |
|
|
|||||||||||
|
Director Mdsg |
Other |
|
|
|||||||||||
|
Vice President - Level |
Other |
|
|
|||||||||||
|
Application Specialist |
Other |
|
|
|||||||||||
|
Regional Manager |
Other |
|
|
|||||||||||
|
Senior Manager of Applications |
Other |
|
|
|||||||||||
|
Executive Vice President - Stores |
Other |
|
|
|||||||||||
|
|||||||||||||||
|
Regional Manager |
Other |
|
|
|||||||||||
|
Regional Manager |
Other |
|
|
|||||||||||
|
Director of Applications |
Other |
|
|
|||||||||||
|
|||||||||||||||
|
Manager Vendor Relations |
Other |
|
|
|||||||||||
Significant Developments
Pier 1 Imports, Inc. Declares Quarterly Cash Dividend Apr 05, 2012
Pier 1 Imports, Inc. announced that its Board of Directors declared a $0.04 per share quarterly cash dividend on the Company's outstanding shares of common stock. The $0.04 quarterly cash dividend will be paid on May 2, 2012 to shareholders of record on April 18, 2012. As of April 5, 2012, approximately 110.2 million shares of the Company's common stock were outstanding.
Pier 1 Imports, Inc. Issues FY 2013 EPS Guidance In Line With Analysts' Estimates; Comments On FY 2013 Comparable Store Sales Guidance Apr 05, 2012
Pier 1 Imports, Inc. announced that for fiscal 2013, it expects comparable store sales growth in the mid single-digit range, Earnings per share (EPS) to be in the range of $1.06 to $1.12. The 53rd week is expected to contribute approximately $25 million to total sales and $0.01 to $0.02 to earnings per share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $1.12 for fiscal 2013.
Pier 1 Imports, Inc. Raises Q3 2012 EPS Guidance Dec 01, 2011
Pier 1 Imports, Inc. announced that third quarter 2012 earnings per share (EPS) expected to be in a range of $0.20-$0.21; an increase from previous estimate of $0.18 per share.
Pier 1 Imports, Inc. Issues Q3 2012 EPS Guidance Above Analysts' Estimates Nov 09, 2011
Pier 1 Imports, Inc. announced that based on current sales and merchandise margin trends, earnings per share (EPS) are anticipated to be at least $0.18 per share for the third quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.17 for the third quarter of 2012.
Pier 1 Imports, Inc. Announces Authorization Of New $100 Million Share Repurchase Program Oct 14, 2011
Pier 1 Imports, Inc. announced its Board of Directors has authorized a new $100 million share repurchase program. The new share repurchase program is effective immediately and authorizes the repurchase of up to $100 million of the Company's common stock in open market or private transactions. The timing of the repurchases will depend on several factors, including prevailing market conditions and prices. As of October 14, 2011, the Company had approximately 109.6 million shares of common stock outstanding.
Pier 1 Imports, Inc. Comments On Q3, Q4 2012 Revenue Guidance-Conference Call Sep 15, 2011
Pier 1 Imports, Inc. announced that total sales for both the third and
fourth quarter of 2012 will be slightly higher than comp store sales due to the
planned new store openings.
Pier 1 Imports, Inc. Comments On Q2, FY 2012 Revenue Guidance-Conference
Call Jun 16, 2011
Pier 1 Imports, Inc. announced that for the second quarter of 2012,
total sales will be approximately the same as comp store sales. For fiscal
2011, total sales will be approximately 1% higher than comp store sales
primarily due to the planned increase in store count later this year compared
to last year.
Pier 1 Imports, Inc. Issues Q1 2012 EPS Guidance Above Analysts'
Estimates Jun 02, 2011
Pier 1 Imports, Inc. announced that for first quarter of 2012, it
expects earnings per share (EPS) to be in the range of $0.11 to $0.12.
According to Reuters Estimates, analysts were expecting the Company to report
EPS of $0.09 for the first quarter of 2012.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate (Period
Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
Revenue |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
Total Revenue |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
882.4 |
841.1 |
850.4 |
957.2 |
1,072.3 |
|
Cost of Revenue, Total |
882.4 |
841.1 |
850.4 |
957.2 |
1,072.3 |
|
Gross Profit |
651.2 |
555.4 |
440.4 |
363.5 |
439.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
475.2 |
430.1 |
408.6 |
430.5 |
466.9 |
|
Total Selling/General/Administrative Expenses |
475.2 |
430.1 |
408.6 |
430.5 |
466.9 |
|
Depreciation |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Depreciation/Amortization |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Litigation |
- |
0.0 |
-10.0 |
0.0 |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
- |
- |
-2.1 |
|
Other Unusual Expense (Income) |
0.0 |
1.8 |
-37.1 |
22.9 |
23.1 |
|
Unusual Expense (Income) |
0.0 |
1.8 |
-47.1 |
22.9 |
21.0 |
|
Total Operating Expense |
1,378.9 |
1,292.7 |
1,234.5 |
1,441.2 |
1,600.0 |
|
|
|
|
|
|
|
|
Operating Income |
154.8 |
103.7 |
56.4 |
-120.6 |
-88.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-3.1 |
-5.4 |
-23.7 |
-14.6 |
-15.9 |
|
Interest Expense, Net Non-Operating |
-3.1 |
-5.4 |
-23.7 |
-14.6 |
-15.9 |
|
Interest Income -
Non-Operating |
12.4 |
1.5 |
1.7 |
4.3 |
8.7 |
|
Interest/Investment Income - Non-Operating |
12.4 |
1.5 |
1.7 |
4.3 |
8.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
9.3 |
-3.9 |
-22.0 |
-10.3 |
-7.2 |
|
Other Non-Operating Income (Expense) |
- |
3.7 |
-2.3 |
2.3 |
2.0 |
|
Other, Net |
- |
3.7 |
-2.3 |
2.3 |
2.0 |
|
Income Before Tax |
164.1 |
103.5 |
32.1 |
-128.6 |
-93.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Income After Tax |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
112.5 |
116.5 |
100.7 |
88.9 |
88.1 |
|
Basic EPS Excl Extraord Items |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Basic/Primary EPS Incl Extraord Items |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Diluted Weighted Average Shares |
114.4 |
117.5 |
100.7 |
88.9 |
88.1 |
|
Diluted EPS Excl Extraord Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
Diluted EPS Incl Extraord Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
3.1 |
5.4 |
23.7 |
14.6 |
15.9 |
|
Depreciation, Supplemental |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Total Special Items |
0.0 |
1.8 |
-47.1 |
22.9 |
21.0 |
|
Normalized Income Before Tax |
164.1 |
105.3 |
-15.0 |
-105.7 |
-72.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.1 |
-16.5 |
8.0 |
7.3 |
|
Inc Tax Ex Impact of Sp Items |
-4.8 |
3.5 |
-71.3 |
8.6 |
9.9 |
|
Normalized Income After Tax |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.50 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Diluted Normalized EPS |
1.48 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Rental Expenses |
223.2 |
218.0 |
232.1 |
244.8 |
254.3 |
|
Advertising Expense, Supplemental |
62.4 |
55.7 |
51.6 |
49.5 |
55.1 |
|
Reported Operating Profit |
-154.8 |
-103.7 |
- |
120.6 |
- |
|
Normalized EBIT |
154.8 |
105.5 |
9.3 |
-97.6 |
-67.2 |
|
Normalized EBITDA |
176.0 |
125.3 |
31.8 |
-67.1 |
-27.4 |
|
Current Tax - Domestic |
32.7 |
-0.4 |
-56.3 |
0.3 |
0.5 |
|
Current Tax - Foreign |
2.7 |
2.0 |
0.3 |
0.1 |
0.5 |
|
Current Tax - Local |
1.7 |
1.9 |
1.2 |
0.2 |
1.6 |
|
Current Tax - Total |
37.1 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Deferred Tax - Domestic |
-34.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Foreign |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Local |
-7.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Total |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Interest Cost - Domestic |
0.8 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Service Cost - Domestic |
1.1 |
1.1 |
0.9 |
0.9 |
0.5 |
|
Prior Service Cost - Domestic |
0.4 |
0.4 |
0.4 |
0.6 |
0.4 |
|
Actuarial Gains and Losses - Domestic |
0.5 |
0.1 |
0.0 |
0.4 |
0.1 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.1 |
0.4 |
0.4 |
1.8 |
|
Domestic Pension Plan Expense |
2.8 |
2.5 |
2.5 |
3.2 |
3.5 |
|
Defined Contribution Expense - Domestic |
2.6 |
2.9 |
2.3 |
2.8 |
3.1 |
|
Total Pension Expense |
5.4 |
5.3 |
4.8 |
6.0 |
6.6 |
|
Compensation Rate - Domestic |
0.00% |
0.00% |
0.00% |
- |
0.00% |
|
Total Plan Interest Cost |
0.8 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Total Plan Service Cost |
1.1 |
1.1 |
0.9 |
0.9 |
0.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
39.2 |
40.2 |
11.4 |
13.3 |
5.6 |
|
Short Term Investments |
248.6 |
261.3 |
176.5 |
142.5 |
87.8 |
|
Cash and Short Term Investments |
287.9 |
301.5 |
187.9 |
155.8 |
93.4 |
|
Accounts Receivable -
Trade, Gross |
16.8 |
15.5 |
17.2 |
19.1 |
24.2 |
|
Provision for Doubtful
Accounts |
-0.5 |
-0.7 |
-2.5 |
-1.6 |
-1.0 |
|
Trade Accounts Receivable - Net |
16.3 |
14.8 |
14.7 |
17.6 |
23.1 |
|
Other Receivables |
0.1 |
1.0 |
0.6 |
2.1 |
13.6 |
|
Total Receivables, Net |
16.4 |
15.9 |
15.3 |
19.7 |
36.8 |
|
Total Inventory |
322.5 |
311.8 |
313.5 |
316.3 |
411.7 |
|
Prepaid Expenses |
23.5 |
22.9 |
37.2 |
41.9 |
41.4 |
|
Total Current Assets |
650.3 |
652.0 |
553.8 |
533.7 |
583.3 |
|
|
|
|
|
|
|
|
Buildings |
188.5 |
180.8 |
176.8 |
192.4 |
197.2 |
|
Land/Improvements |
4.3 |
4.8 |
4.8 |
6.4 |
6.4 |
|
Machinery/Equipment |
365.1 |
327.6 |
313.3 |
318.0 |
320.0 |
|
Construction in
Progress |
7.2 |
4.2 |
0.6 |
0.8 |
0.0 |
|
Property/Plant/Equipment - Gross |
565.0 |
517.3 |
495.5 |
517.5 |
523.6 |
|
Accumulated Depreciation |
-461.4 |
-452.5 |
-439.7 |
-432.4 |
-408.6 |
|
Property/Plant/Equipment - Net |
103.6 |
64.8 |
55.8 |
85.1 |
115.0 |
|
Other Long Term Assets |
69.4 |
26.8 |
33.3 |
36.6 |
123.6 |
|
Other Long Term Assets, Total |
69.4 |
26.8 |
33.3 |
36.6 |
123.6 |
|
Total Assets |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
63.8 |
57.4 |
65.3 |
80.7 |
106.1 |
|
Accrued Expenses |
101.6 |
95.6 |
94.6 |
90.9 |
90.8 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.0 |
16.4 |
0.0 |
- |
|
Income Taxes Payable |
16.8 |
0.2 |
5.0 |
4.4 |
5.0 |
|
Other Current Liabilities |
63.2 |
83.1 |
55.9 |
57.8 |
74.1 |
|
Other Current liabilities, Total |
79.9 |
83.3 |
60.8 |
62.2 |
79.1 |
|
Total Current Liabilities |
245.4 |
236.4 |
237.2 |
233.8 |
276.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
Total Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
Total Debt |
9.5 |
9.5 |
35.4 |
184.0 |
184.0 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
31.8 |
25.1 |
19.8 |
21.1 |
24.3 |
|
Other Long Term Liabilities |
43.1 |
59.8 |
63.8 |
72.3 |
69.9 |
|
Other Liabilities, Total |
74.8 |
84.9 |
83.7 |
93.4 |
94.2 |
|
Total Liabilities |
329.7 |
330.7 |
339.8 |
511.2 |
554.2 |
|
|
|
|
|
|
|
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
100.8 |
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
100.8 |
|
Additional Paid-In Capital |
231.9 |
243.1 |
264.5 |
214.0 |
126.8 |
|
Retained Earnings (Accumulated Deficit) |
462.8 |
293.8 |
193.7 |
106.8 |
236.1 |
|
Treasury Stock - Common |
-196.7 |
-123.4 |
-154.5 |
-175.5 |
-196.3 |
|
Other Comprehensive Income |
-4.5 |
-0.8 |
-0.7 |
-1.2 |
0.4 |
|
Other Equity, Total |
-4.5 |
-0.8 |
-0.7 |
-1.2 |
0.4 |
|
Total Equity |
493.6 |
412.9 |
303.1 |
144.3 |
267.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
Total Common Shares Outstanding |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
Treasury Shares - Common Stock Primary Issue |
15.5 |
7.7 |
9.6 |
10.9 |
12.2 |
|
Employees |
3,500 |
3,400 |
3,300 |
3,500 |
6,100 |
|
Number of Common Shareholders |
9,000 |
9,500 |
10,000 |
10,000 |
10,000 |
|
Total Long Term Debt, Supplemental |
9.5 |
9.5 |
35.6 |
184.0 |
184.0 |
|
Long Term Debt Maturing within 1 Year |
0.0 |
0.0 |
16.6 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 2 |
0.0 |
0.0 |
0.0 |
165.0 |
0.0 |
|
Long Term Debt Maturing in Year 3 |
0.0 |
0.0 |
0.0 |
0.0 |
165.0 |
|
Long Term Debt Maturing in Year 4 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
0.0 |
0.0 |
0.0 |
165.0 |
165.0 |
|
Long Term Debt Maturing in 4-5 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
9.5 |
9.5 |
19.0 |
19.0 |
19.0 |
|
Total Operating Leases, Supplemental |
816.2 |
729.7 |
791.7 |
936.4 |
1,069.4 |
|
Operating Lease Payments Due in Year 1 |
216.9 |
211.7 |
208.3 |
225.5 |
228.2 |
|
Operating Lease Payments Due in Year 2 |
186.2 |
183.4 |
191.1 |
202.3 |
207.4 |
|
Operating Lease Payments Due in Year 3 |
136.4 |
144.5 |
157.4 |
177.6 |
182.9 |
|
Operating Lease Payments Due in Year 4 |
96.3 |
95.0 |
116.1 |
141.4 |
158.4 |
|
Operating Lease Payments Due in Year 5 |
67.4 |
50.3 |
62.8 |
99.5 |
121.2 |
|
Operating Lease Pymts. Due in 2-3 Years |
322.6 |
328.0 |
348.4 |
379.9 |
390.3 |
|
Operating Lease Pymts. Due in 4-5 Years |
163.7 |
145.3 |
178.9 |
240.9 |
279.5 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
113.0 |
44.7 |
56.1 |
90.1 |
171.3 |
|
Pension Obligation - Domestic |
23.5 |
18.4 |
17.1 |
17.6 |
16.6 |
|
Funded Status - Domestic |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Accumulated Obligation - Domestic |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Total Funded Status |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Compensation Rate - Domestic |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
|
Accrued Liabilities - Domestic |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Other Assets, Net - Domestic |
7.2 |
4.7 |
3.0 |
4.2 |
6.3 |
|
Net Assets Recognized on Balance Sheet |
-16.3 |
-13.7 |
-14.1 |
-13.4 |
-10.3 |
|
Total Plan Obligations |
23.5 |
18.4 |
17.1 |
17.6 |
16.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Depreciation |
30.9 |
33.8 |
33.3 |
45.2 |
55.3 |
|
Depreciation/Depletion |
30.9 |
33.8 |
33.3 |
45.2 |
55.3 |
|
Deferred Taxes |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unusual Items |
2.5 |
0.5 |
-41.7 |
15.8 |
13.3 |
|
Other Non-Cash Items |
-23.4 |
2.0 |
21.2 |
0.4 |
9.0 |
|
Non-Cash Items |
-20.9 |
2.5 |
-20.6 |
16.2 |
22.3 |
|
Accounts Receivable |
-8.1 |
-8.5 |
9.9 |
9.4 |
16.8 |
|
Inventories |
-10.7 |
1.7 |
2.8 |
95.4 |
-51.6 |
|
Other Assets |
0.0 |
28.9 |
-0.2 |
1.2 |
0.8 |
|
Payable/Accrued |
7.5 |
-4.8 |
-26.5 |
-65.5 |
-22.8 |
|
Taxes Payable |
16.5 |
-3.0 |
0.5 |
-1.6 |
2.8 |
|
Other Liabilities |
- |
-2.4 |
-1.8 |
-2.7 |
-10.6 |
|
Other Operating Cash Flow |
0.0 |
0.0 |
-13.8 |
0.0 |
0.0 |
|
Changes in Working Capital |
5.2 |
11.9 |
-29.1 |
36.3 |
-64.7 |
|
Cash from Operating Activities |
142.2 |
148.4 |
70.6 |
-31.6 |
-83.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-62.3 |
-31.0 |
-5.2 |
-13.4 |
-7.2 |
|
Capital Expenditures |
-62.3 |
-31.0 |
-5.2 |
-13.4 |
-7.2 |
|
Sale of Business |
- |
- |
- |
0.0 |
0.0 |
|
Sale of Fixed Assets |
1.4 |
11.1 |
0.7 |
102.5 |
5.7 |
|
Sale/Maturity of Investment |
0.5 |
3.9 |
3.9 |
3.3 |
7.0 |
|
Purchase of Investments |
-1.6 |
-3.9 |
-3.7 |
-2.0 |
-0.6 |
|
Other Investing Cash Flow |
0.0 |
6.3 |
1.5 |
1.5 |
1.5 |
|
Other Investing Cash Flow Items, Total |
0.2 |
17.3 |
2.5 |
105.2 |
13.6 |
|
Cash from Investing Activities |
-62.1 |
-13.7 |
-2.8 |
91.8 |
6.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-3.1 |
0.0 |
-4.4 |
0.0 |
-1.0 |
|
Financing Cash Flow Items |
-3.1 |
0.0 |
-4.4 |
0.0 |
-1.0 |
|
Cash Dividends Paid - Common |
- |
- |
- |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
- |
- |
- |
0.0 |
0.0 |
|
Repurchase/Retirement
of Common |
-100.0 |
0.0 |
0.0 |
- |
- |
|
Common Stock, Net |
-100.0 |
0.0 |
0.0 |
- |
- |
|
Options Exercised |
9.3 |
5.0 |
0.3 |
2.2 |
3.9 |
|
Issuance (Retirement) of Stock, Net |
-90.7 |
5.0 |
0.3 |
2.2 |
3.9 |
|
Short Term Debt
Reduction |
- |
- |
- |
0.0 |
0.0 |
|
Short Term Debt, Net |
0.0 |
0.0 |
-31.6 |
0.0 |
0.0 |
|
Long Term Debt
Reduction |
0.0 |
-26.1 |
0.0 |
0.0 |
- |
|
Long Term Debt, Net |
0.0 |
-26.1 |
0.0 |
0.0 |
- |
|
Issuance (Retirement) of Debt, Net |
0.0 |
-26.1 |
-31.6 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-93.8 |
-21.1 |
-35.7 |
2.2 |
2.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-13.6 |
113.6 |
32.1 |
62.4 |
-73.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
301.5 |
187.9 |
155.8 |
93.4 |
167.2 |
|
Net Cash - Ending Balance |
287.9 |
301.5 |
187.9 |
155.8 |
93.4 |
|
Cash Interest Paid |
4.8 |
6.0 |
20.6 |
14.0 |
15.7 |
|
Cash Taxes Paid |
18.8 |
7.3 |
2.0 |
2.6 |
1.1 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
Total Revenue |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
882.4 |
841.1 |
850.4 |
957.2 |
1,072.3 |
|
Selling, general and administrative expe |
475.2 |
430.1 |
408.6 |
430.5 |
466.9 |
|
Lease termination costs |
- |
1.8 |
11.2 |
15.7 |
15.5 |
|
Severance and other |
- |
- |
1.3 |
5.5 |
7.6 |
|
Acquisition costs |
- |
- |
0.0 |
1.7 |
0.0 |
|
Loss (gain) on sale of fixed assets |
- |
- |
- |
- |
-2.1 |
|
Gain on Retirement of Debt |
0.0 |
0.0 |
-49.7 |
0.0 |
0.0 |
|
Depreciation |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Othet income (settlement of litigation) |
- |
0.0 |
-10.0 |
0.0 |
- |
|
Total Operating Expense |
1,378.9 |
1,292.7 |
1,234.5 |
1,441.2 |
1,600.0 |
|
|
|
|
|
|
|
|
Interest Income |
12.4 |
1.5 |
1.7 |
4.3 |
8.7 |
|
Interest Expense |
-3.1 |
-5.4 |
-23.7 |
-14.6 |
-15.9 |
|
Other, Net |
- |
3.7 |
-2.3 |
2.3 |
2.0 |
|
Net Income Before Taxes |
164.1 |
103.5 |
32.1 |
-128.6 |
-93.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Net Income After Taxes |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
112.5 |
116.5 |
100.7 |
88.9 |
88.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Basic EPS Including ExtraOrdinary Item |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Diluted Weighted Average Shares |
114.4 |
117.5 |
100.7 |
88.9 |
88.1 |
|
Diluted EPS Excluding ExtraOrd Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
Diluted EPS Including ExtraOrd Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
164.1 |
105.3 |
-15.0 |
-105.7 |
-72.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-4.8 |
3.5 |
-71.3 |
8.6 |
9.9 |
|
Normalized Income After Taxes |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.50 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Diluted Normalized EPS |
1.48 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Interest Expense |
3.1 |
5.4 |
23.7 |
14.6 |
15.9 |
|
Depreciation |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Rental Expense |
223.2 |
218.0 |
232.1 |
244.8 |
254.3 |
|
Advertising Costs |
62.4 |
55.7 |
51.6 |
49.5 |
55.1 |
|
Current Tax - Federal |
32.7 |
-0.4 |
-56.3 |
0.3 |
0.5 |
|
Current Tax - State |
1.7 |
1.9 |
1.2 |
0.2 |
1.6 |
|
Current Tax - Foreign |
2.7 |
2.0 |
0.3 |
0.1 |
0.5 |
|
Current Tax - Total |
37.1 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Dfrd Tax - Federal |
-34.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dfrd Tax - State |
-7.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dfrd Tax - Foreign |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Total |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Operating loss |
-154.8 |
-103.7 |
- |
120.6 |
- |
|
Service Cost - Pension |
1.1 |
1.1 |
0.9 |
0.9 |
0.5 |
|
Interest Cost - Pension |
0.8 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Amort. of Prior Service Cost - Pension |
0.4 |
0.4 |
0.4 |
0.6 |
0.4 |
|
Amort. of Actuarial Gain/Loss - Pension |
0.5 |
0.1 |
0.0 |
0.4 |
0.1 |
|
Settlement Charges - Pension |
0.0 |
0.1 |
0.0 |
0.0 |
1.4 |
|
Curtailment Charges - Pension |
0.0 |
0.0 |
0.4 |
0.4 |
0.4 |
|
Domestic Pension Plan Expense |
2.8 |
2.5 |
2.5 |
3.2 |
3.5 |
|
Defined Contribution Plan |
1.9 |
2.3 |
1.8 |
2.1 |
2.3 |
|
Non - Qualified Retirement Sav. Plans |
0.7 |
0.6 |
0.5 |
0.7 |
0.8 |
|
Total Pension Expense |
5.4 |
5.3 |
4.8 |
6.0 |
6.6 |
|
Discount Rate - Pension |
4.25% |
4.75% |
5.00% |
- |
5.50% |
|
Lump-Sum Discount Rate - Pension |
5.00% |
5.00% |
5.00% |
- |
2.75% |
|
Compensation Rate - Pension |
0.00% |
0.00% |
0.00% |
- |
0.00% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
39.2 |
40.2 |
11.4 |
13.3 |
5.6 |
|
Temp.Investments |
248.6 |
261.3 |
176.5 |
142.5 |
87.8 |
|
Accounts Rcvbl. |
16.8 |
15.5 |
17.2 |
19.1 |
24.2 |
|
Allowance |
-0.5 |
-0.7 |
-2.5 |
-1.6 |
-1.0 |
|
Inventories |
322.5 |
311.8 |
313.5 |
316.3 |
411.7 |
|
Income Tax Receivable |
0.1 |
1.0 |
0.6 |
2.1 |
13.6 |
|
Prepaid/Other |
23.5 |
22.9 |
37.2 |
41.9 |
41.4 |
|
Total Current Assets |
650.3 |
652.0 |
553.8 |
533.7 |
583.3 |
|
|
|
|
|
|
|
|
Office Building Held for Sale |
- |
- |
- |
- |
80.5 |
|
Land |
4.3 |
4.8 |
4.8 |
6.4 |
6.4 |
|
Buildings |
12.4 |
13.0 |
13.0 |
29.5 |
29.6 |
|
Furn. & Fixts. |
277.2 |
250.8 |
237.2 |
243.4 |
246.8 |
|
Leasehld Improv |
176.1 |
167.8 |
163.8 |
162.8 |
167.5 |
|
Computer Softw. |
87.8 |
76.8 |
76.2 |
74.6 |
73.2 |
|
Constr. in Prog |
7.2 |
4.2 |
0.6 |
0.8 |
0.0 |
|
Depreciation |
-461.4 |
-452.5 |
-439.7 |
-432.4 |
-408.6 |
|
Other Assets |
69.4 |
26.8 |
33.3 |
36.6 |
43.1 |
|
Total Assets |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
Accts. Payable |
63.8 |
57.4 |
65.3 |
80.7 |
106.1 |
|
Gift Cards |
53.1 |
72.0 |
44.4 |
47.3 |
63.1 |
|
Accrd. Taxes |
16.8 |
0.2 |
5.0 |
4.4 |
5.0 |
|
Current portion convertible debt |
- |
0.0 |
16.4 |
0.0 |
- |
|
Accrued payroll |
65.8 |
55.5 |
48.4 |
41.5 |
46.4 |
|
Accrued taxes |
20.0 |
20.4 |
22.8 |
23.6 |
24.0 |
|
Rent-related liabilities |
10.1 |
11.1 |
11.5 |
10.4 |
11.0 |
|
Other Accrued |
15.9 |
19.7 |
23.3 |
25.8 |
19.0 |
|
Retirement benefits |
- |
- |
- |
- |
1.4 |
|
Total Current Liabilities |
245.4 |
236.4 |
237.2 |
233.8 |
276.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
Total Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
|
|
|
|
|
|
|
Retirement Benefits |
31.8 |
25.1 |
19.8 |
21.1 |
24.3 |
|
Other |
43.1 |
59.8 |
63.8 |
72.3 |
69.9 |
|
Total Liabilities |
329.7 |
330.7 |
339.8 |
511.2 |
554.2 |
|
|
|
|
|
|
|
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
100.8 |
|
Paid in Capital |
231.9 |
243.1 |
264.5 |
214.0 |
126.8 |
|
Retained Erngs. |
462.8 |
293.8 |
193.7 |
106.8 |
236.1 |
|
Comp. Income |
-4.5 |
-0.8 |
-0.7 |
-1.2 |
0.4 |
|
Treas./Other |
-196.7 |
-123.4 |
-154.5 |
-175.5 |
-196.3 |
|
Total Equity |
493.6 |
412.9 |
303.1 |
144.3 |
267.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
Total Common Shares Outstanding |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
T/S-Common Stock |
15.5 |
7.7 |
9.6 |
10.9 |
12.2 |
|
Full-Time Employees |
3,500 |
3,400 |
3,300 |
3,500 |
6,100 |
|
Number of Common Shareholders |
9,000 |
9,500 |
10,000 |
10,000 |
10,000 |
|
Long Term Debt Maturing within 1 Year |
0.0 |
0.0 |
16.6 |
0.0 |
0.0 |
|
Long Term Debt Maturing within 2 Years |
0.0 |
0.0 |
0.0 |
165.0 |
0.0 |
|
Long Term Debt Maturing within 3 Years |
0.0 |
0.0 |
0.0 |
0.0 |
165.0 |
|
Long Term Debt Maturing within 4 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing within 5 Years |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Remaining Maturities |
9.5 |
9.5 |
19.0 |
19.0 |
19.0 |
|
Total Long Term Debt, Supplemental |
9.5 |
9.5 |
35.6 |
184.0 |
184.0 |
|
Operating Leases Maturing within 1 Year |
216.9 |
211.7 |
208.3 |
225.5 |
228.2 |
|
Operating Leases Maturing within 2 Years |
186.2 |
183.4 |
191.1 |
202.3 |
207.4 |
|
Operating Leases Maturing within 3 Years |
136.4 |
144.5 |
157.4 |
177.6 |
182.9 |
|
Operating Leases Maturing within 4 Years |
96.3 |
95.0 |
116.1 |
141.4 |
158.4 |
|
Operating Leases Maturing within 5 Years |
67.4 |
50.3 |
62.8 |
99.5 |
121.2 |
|
Operating Leases Remaining Maturities |
113.0 |
44.7 |
56.1 |
90.1 |
171.3 |
|
Total Operating Leases |
816.2 |
729.7 |
791.7 |
936.4 |
1,069.4 |
|
Projected Benefit Obligation - Pension |
23.5 |
18.4 |
17.1 |
17.6 |
16.6 |
|
Funded Status - Pension |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Accumulated Benefit Obligation - Pension |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Total Funded Status |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Discount Rate - Pension |
3.25% |
4.25% |
4.75% |
5.00% |
5.00% |
|
Lump-Sum Discount Rate - Pension |
5.00% |
5.00% |
5.00% |
5.00% |
2.75% |
|
Compensation Rate - Pension |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
|
Current Liabilities - Pension |
-0.9 |
-0.1 |
-3.1 |
-1.8 |
-0.3 |
|
Non-Current Liabilities - Pension |
-22.6 |
-18.3 |
-14.0 |
-15.8 |
-16.3 |
|
Accum. & Other Com. Inc. Loss - Pension |
7.2 |
4.7 |
3.0 |
4.2 |
6.3 |
|
Net Assets Recognized on Balance Sheet |
-16.3 |
-13.7 |
-14.1 |
-13.4 |
-10.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Depreciation |
30.9 |
33.8 |
33.3 |
45.2 |
55.3 |
|
Other |
1.4 |
4.5 |
3.1 |
-2.2 |
1.5 |
|
Amortization of deferred gains |
-13.9 |
-11.4 |
-7.8 |
-6.8 |
-2.5 |
|
Gain on retirement of convertible bonds |
0.0 |
0.0 |
-49.7 |
0.0 |
0.0 |
|
Charges related to the conversion of the |
0.0 |
0.0 |
18.3 |
0.0 |
0.0 |
|
Amortization of credit card deferred rev |
-22.7 |
- |
0.0 |
- |
- |
|
Deferred Taxes |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inventories |
-10.7 |
1.7 |
2.8 |
95.4 |
-51.6 |
|
Payable/Accrued |
7.5 |
-4.8 |
-26.5 |
-65.5 |
-22.8 |
|
Accounts receivable, prepaid expenses an |
-9.0 |
-8.0 |
8.3 |
-5.1 |
-8.8 |
|
Accrued Taxes |
16.5 |
-3.0 |
0.5 |
-1.6 |
2.8 |
|
Stock-based Compensation Expense |
6.2 |
4.7 |
3.8 |
5.2 |
5.8 |
|
Other Assets |
- |
0.6 |
-0.2 |
1.2 |
0.8 |
|
Purchase of proprietary credit card rece |
- |
- |
- |
0.0 |
0.0 |
|
Proceeds from an adjustment to the propr |
0.0 |
28.3 |
0.0 |
0.0 |
0.0 |
|
Other Liabs. |
- |
-2.9 |
-1.8 |
-0.1 |
-6.4 |
|
Other Noncurrent Liabilities |
- |
0.5 |
0.0 |
-2.5 |
-4.3 |
|
Loss on Assets |
0.6 |
-1.6 |
0.2 |
0.0 |
-2.1 |
|
Deferred Comp. |
5.6 |
4.2 |
3.7 |
4.2 |
4.2 |
|
Income Tax Receivables |
0.9 |
-0.5 |
1.6 |
14.5 |
25.6 |
|
Loss on impairment of fixed assets and l |
0.0 |
0.5 |
0.0 |
9.7 |
5.0 |
|
Sale of Receivables in Exchange of Int. |
- |
- |
- |
0.0 |
0.0 |
|
Lease Termination Ex |
1.9 |
1.6 |
7.7 |
6.1 |
10.4 |
|
Make whole interest provision |
0.0 |
0.0 |
-13.8 |
0.0 |
0.0 |
|
Cash from Operating Activities |
142.2 |
148.4 |
70.6 |
-31.6 |
-83.1 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-62.3 |
-31.0 |
-5.2 |
-13.4 |
-7.2 |
|
Assets Disposed |
1.4 |
11.1 |
0.7 |
102.5 |
5.7 |
|
Discontinued Operations |
- |
- |
- |
0.0 |
0.0 |
|
Proceeds from sale of Pier 1 National |
- |
- |
- |
0.0 |
0.0 |
|
Proceeds from Sale of Restricted Investm |
0.5 |
3.9 |
3.9 |
3.3 |
7.0 |
|
Restricted CPurchase of Restricted Inash |
-1.6 |
-3.9 |
-3.7 |
-2.0 |
-0.6 |
|
Collection of Note Receivable |
0.0 |
6.3 |
1.5 |
1.5 |
1.5 |
|
Beneficial Interest |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Investing Activities |
-62.1 |
-13.7 |
-2.8 |
91.8 |
6.4 |
|
|
|
|
|
|
|
|
Dividends Paid |
- |
- |
- |
0.0 |
0.0 |
|
Treasury Stock |
-100.0 |
0.0 |
0.0 |
- |
- |
|
Repayment of long-term debt |
0.0 |
-26.1 |
0.0 |
0.0 |
- |
|
Stock Options |
9.3 |
5.0 |
0.3 |
2.2 |
3.9 |
|
Notes Payable Borrowings |
0.0 |
0.0 |
-31.6 |
0.0 |
0.0 |
|
Repayment of Notes Payable |
- |
- |
- |
0.0 |
0.0 |
|
Debt Issuance Costs |
-3.1 |
0.0 |
-4.4 |
0.0 |
-1.0 |
|
Cash from Financing Activities |
-93.8 |
-21.1 |
-35.7 |
2.2 |
2.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-13.6 |
113.6 |
32.1 |
62.4 |
-73.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
301.5 |
187.9 |
155.8 |
93.4 |
167.2 |
|
Net Cash - Ending Balance |
287.9 |
301.5 |
187.9 |
155.8 |
93.4 |
|
Cash Interest Paid |
4.8 |
6.0 |
20.6 |
14.0 |
15.7 |
|
Cash Taxes Paid |
18.8 |
7.3 |
2.0 |
2.6 |
1.1 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Ratio Comparisons
|
||||||
|
|
Company |
Industry |
Sector |
S&P 500 |
|
Valuation Ratios |
||||
|
P/E Excluding Extraordinary (TTM) |
11.00 |
21.45 |
26.53 |
19.68 |
|
P/E High Excluding Extraordinary - Last 5 Yrs |
11.48 |
25.00 |
28.03 |
32.79 |
|
P/E Low Excluding Extraordinary - Last 5 Yrs |
7.09 |
10.32 |
11.18 |
10.71 |
|
Beta |
4.42 |
1.18 |
0.91 |
1.00 |
|
Price/Revenue (TTM) |
1.19 |
1.27 |
2.87 |
2.57 |
|
Price/Book (MRQ) |
3.69 |
3.31 |
4.17 |
3.67 |
|
Price to Tangible Book (MRQ) |
3.69 |
3.85 |
6.61 |
5.21 |
|
Price to Cash Flow Per Share (TTM) |
9.57 |
14.06 |
14.95 |
14.22 |
|
Price to Free Cash Flow Per Share (TTM) |
22.77 |
24.90 |
25.61 |
26.26 |
|
|
|
|
|
|
|
Dividends |
||||
|
Dividend Yield |
0.96% |
1.57% |
2.91% |
2.26% |
|
Dividend Per Share - 5 Yr Avg |
0.00 |
0.64 |
1.96 |
1.99 |
|
Dividend 5 Yr Growth |
- |
-21.00% |
-1.39% |
0.08% |
|
Payout Ratio (TTM) |
0.00% |
8.41% |
11.60% |
25.98% |
|
|
|
|
|
|
|
Growth Rates (%) |
||||
|
Revenue (MRQ) vs Qtr 1 Yr Ago |
11.76% |
12.43% |
-0.77% |
15.58% |
|
Revenue (TTM) vs TTM 1 Yr Ago |
9.82% |
10.84% |
-4.27% |
17.69% |
|
Revenue 5 Yr Growth |
-1.13% |
9.32% |
23.25% |
8.97% |
|
EPS (MRQ) vs Qtr 1 Yr Ago |
116.56% |
30.89% |
12.66% |
19.49% |
|
EPS (TTM) vs TTM 1 Yr Ago |
78.07% |
37.83% |
17.36% |
32.55% |
|
EPS 5 Yr Growth |
- |
10.63% |
8.65% |
9.86% |
|
Capital Spending 5 Yr Growth |
16.85% |
-3.85% |
-14.30% |
-2.04% |
|
|
|
|
|
|
|
Financial Strength |
||||
|
Quick Ratio (MRQ) |
1.34 |
0.61 |
0.63 |
1.24 |
|
Current Ratio (MRQ) |
2.65 |
2.11 |
0.97 |
1.79 |
|
LT Debt/Equity (MRQ) |
0.02 |
0.51 |
1.48 |
0.64 |
|
Total Debt/Equity (MRQ) |
0.02 |
0.58 |
1.73 |
0.73 |
|
Interest Coverage (TTM) |
- |
13.90 |
4.20 |
13.80 |
|
|
|
|
|
|
|
Profitability Ratios (%) |
||||
|
Gross Margin (TTM) |
42.46% |
37.85% |
37.46% |
45.21% |
|
Gross Margin - 5 Yr Avg |
34.73% |
37.91% |
39.96% |
44.91% |
|
EBITD Margin (TTM) |
11.48% |
12.91% |
8.34% |
24.43% |
|
EBITD Margin - 5 Yr Avg |
3.40% |
11.51% |
13.48% |
22.84% |
|
Operating Margin (TTM) |
10.09% |
10.63% |
10.36% |
20.63% |
|
Operating Margin - 5 Yr Avg |
1.51% |
8.93% |
2.67% |
18.28% |
|
Pretax Margin (TTM) |
10.70% |
9.35% |
6.99% |
17.95% |
|
Pretax Margin - 5 Yr Avg |
1.10% |
8.10% |
5.24% |
17.10% |
|
Net Profit Margin (TTM) |
11.02% |
5.93% |
4.44% |
13.65% |
|
Net Profit Margin - 5 Yr Avg |
1.85% |
5.06% |
2.82% |
12.10% |
|
Effective Tax Rate (TTM) |
-2.94% |
36.81% |
29.02% |
28.45% |
|
Effective Tax rate - 5 Yr Avg |
-68.24% |
36.54% |
28.67% |
29.92% |
|
|
|
|
|
|
|
Management Effectiveness (%) |
||||
|
Return on Assets (TTM) |
21.56% |
8.25% |
0.41% |
8.54% |
|
Return on Assets - 5 Yr Avg |
3.50% |
7.58% |
3.69% |
8.40% |
|
Return on Investment (TTM) |
31.13% |
9.88% |
3.14% |
7.90% |
|
Return on Investment - 5 Yr Avg |
5.26% |
8.99% |
4.63% |
8.27% |
|
Return on Equity (TTM) |
37.27% |
15.46% |
-2.30% |
19.72% |
|
Return on Equity - 5 Yr Avg |
8.40% |
12.04% |
14.07% |
20.06% |
|
|
|
|
|
|
|
Efficiency |
||||
|
Revenue/Employee (TTM) |
438,174.60 |
316,828.32 |
764,536.05 |
927,613.77 |
|
Net Income/Employee (TTM) |
48,267.71 |
17,978.12 |
144,529.55 |
116,121.92 |
|
Receivables Turnover (TTM) |
98.64 |
35.53 |
16.95 |
13.25 |
|
Inventory Turnover (TTM) |
2.78 |
3.95 |
17.44 |
14.53 |
|
Asset Turnover (TTM) |
1.96 |
1.64 |
1.00 |
0.93 |
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Stock Report
Stock Snapshot
Traded: New York Stock Exchange: PIR
As of 11-May-2012 US Dollars
Recent Price $16.60 EPS $1.48
52 Week High $19.09 Price/Sales 1.19
52 Week Low $8.60 Dividend
Rate $0.16
Avg. Volume (mil) 1.80 Price/Earnings 10.71
Market Value (mil) $1,819.39 Price/Book 3.69
Beta 4.42
Price % Change Rel S&P 500%
4 Week -7.21% -6.05%
13 Week -0.48% -1.27%
52 Week 41.76% 41.27%
Year to Date 19.17% 10.73%
2 Year Weekly End Price &
Volume
Stock History
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
Revenue |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
Total Revenue |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
882.4 |
841.1 |
850.4 |
957.2 |
1,072.3 |
|
Cost of Revenue, Total |
882.4 |
841.1 |
850.4 |
957.2 |
1,072.3 |
|
Gross Profit |
651.2 |
555.4 |
440.4 |
363.5 |
439.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
475.2 |
430.1 |
408.6 |
430.5 |
466.9 |
|
Total Selling/General/Administrative Expenses |
475.2 |
430.1 |
408.6 |
430.5 |
466.9 |
|
Depreciation |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Depreciation/Amortization |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Litigation |
- |
0.0 |
-10.0 |
0.0 |
- |
|
Loss (Gain) on Sale of Assets - Operating |
- |
- |
- |
- |
-2.1 |
|
Other Unusual Expense (Income) |
0.0 |
1.8 |
-37.1 |
22.9 |
23.1 |
|
Unusual Expense (Income) |
0.0 |
1.8 |
-47.1 |
22.9 |
21.0 |
|
Total Operating Expense |
1,378.9 |
1,292.7 |
1,234.5 |
1,441.2 |
1,600.0 |
|
|
|
|
|
|
|
|
Operating Income |
154.8 |
103.7 |
56.4 |
-120.6 |
-88.1 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-3.1 |
-5.4 |
-23.7 |
-14.6 |
-15.9 |
|
Interest Expense, Net Non-Operating |
-3.1 |
-5.4 |
-23.7 |
-14.6 |
-15.9 |
|
Interest Income -
Non-Operating |
12.4 |
1.5 |
1.7 |
4.3 |
8.7 |
|
Interest/Investment Income - Non-Operating |
12.4 |
1.5 |
1.7 |
4.3 |
8.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
9.3 |
-3.9 |
-22.0 |
-10.3 |
-7.2 |
|
Other Non-Operating Income (Expense) |
- |
3.7 |
-2.3 |
2.3 |
2.0 |
|
Other, Net |
- |
3.7 |
-2.3 |
2.3 |
2.0 |
|
Income Before Tax |
164.1 |
103.5 |
32.1 |
-128.6 |
-93.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Income After Tax |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
112.5 |
116.5 |
100.7 |
88.9 |
88.1 |
|
Basic EPS Excl Extraord Items |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Basic/Primary EPS Incl Extraord Items |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Diluted Weighted Average Shares |
114.4 |
117.5 |
100.7 |
88.9 |
88.1 |
|
Diluted EPS Excl Extraord Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
Diluted EPS Incl Extraord Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
3.1 |
5.4 |
23.7 |
14.6 |
15.9 |
|
Depreciation, Supplemental |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Total Special Items |
0.0 |
1.8 |
-47.1 |
22.9 |
21.0 |
|
Normalized Income Before Tax |
164.1 |
105.3 |
-15.0 |
-105.7 |
-72.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
0.1 |
-16.5 |
8.0 |
7.3 |
|
Inc Tax Ex Impact of Sp Items |
-4.8 |
3.5 |
-71.3 |
8.6 |
9.9 |
|
Normalized Income After Tax |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.50 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Diluted Normalized EPS |
1.48 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Rental Expenses |
223.2 |
218.0 |
232.1 |
244.8 |
254.3 |
|
Advertising Expense, Supplemental |
62.4 |
55.7 |
51.6 |
49.5 |
55.1 |
|
Reported Operating Profit |
-154.8 |
-103.7 |
- |
120.6 |
- |
|
Normalized EBIT |
154.8 |
105.5 |
9.3 |
-97.6 |
-67.2 |
|
Normalized EBITDA |
176.0 |
125.3 |
31.8 |
-67.1 |
-27.4 |
|
Current Tax - Domestic |
32.7 |
-0.4 |
-56.3 |
0.3 |
0.5 |
|
Current Tax - Foreign |
2.7 |
2.0 |
0.3 |
0.1 |
0.5 |
|
Current Tax - Local |
1.7 |
1.9 |
1.2 |
0.2 |
1.6 |
|
Current Tax - Total |
37.1 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Deferred Tax - Domestic |
-34.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Foreign |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Local |
-7.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Total |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Interest Cost - Domestic |
0.8 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Service Cost - Domestic |
1.1 |
1.1 |
0.9 |
0.9 |
0.5 |
|
Prior Service Cost - Domestic |
0.4 |
0.4 |
0.4 |
0.6 |
0.4 |
|
Actuarial Gains and Losses - Domestic |
0.5 |
0.1 |
0.0 |
0.4 |
0.1 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.1 |
0.4 |
0.4 |
1.8 |
|
Domestic Pension Plan Expense |
2.8 |
2.5 |
2.5 |
3.2 |
3.5 |
|
Defined Contribution Expense - Domestic |
2.6 |
2.9 |
2.3 |
2.8 |
3.1 |
|
Total Pension Expense |
5.4 |
5.3 |
4.8 |
6.0 |
6.6 |
|
Compensation Rate - Domestic |
0.00% |
0.00% |
0.00% |
- |
0.00% |
|
Total Plan Interest Cost |
0.8 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Total Plan Service Cost |
1.1 |
1.1 |
0.9 |
0.9 |
0.5 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Nov-2011 |
27-Aug-2011 |
28-May-2011 |
26-Feb-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Sales |
476.8 |
382.7 |
339.6 |
334.6 |
426.6 |
|
Revenue |
476.8 |
382.7 |
339.6 |
334.6 |
426.6 |
|
Total Revenue |
476.8 |
382.7 |
339.6 |
334.6 |
426.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
259.7 |
217.2 |
205.0 |
200.5 |
244.1 |
|
Cost of Revenue, Total |
259.7 |
217.2 |
205.0 |
200.5 |
244.1 |
|
Gross Profit |
217.1 |
165.5 |
134.5 |
134.1 |
182.5 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
132.7 |
127.5 |
105.8 |
109.2 |
117.3 |
|
Total Selling/General/Administrative Expenses |
132.7 |
127.5 |
105.8 |
109.2 |
117.3 |
|
Depreciation |
6.1 |
5.1 |
5.0 |
5.0 |
5.1 |
|
Depreciation/Amortization |
6.1 |
5.1 |
5.0 |
5.0 |
5.1 |
|
Litigation |
- |
- |
- |
- |
0.0 |
|
Other Unusual Expense (Income) |
- |
- |
- |
- |
1.7 |
|
Unusual Expense (Income) |
- |
- |
- |
- |
1.7 |
|
Total Operating Expense |
398.5 |
349.8 |
315.8 |
314.7 |
368.2 |
|
|
|
|
|
|
|
|
Operating Income |
78.3 |
32.9 |
23.7 |
19.9 |
58.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.8 |
-0.7 |
-0.7 |
-0.8 |
-0.9 |
|
Interest Expense, Net Non-Operating |
-0.8 |
-0.7 |
-0.7 |
-0.8 |
-0.9 |
|
Interest Income -
Non-Operating |
4.0 |
3.2 |
2.6 |
2.6 |
0.3 |
|
Interest/Investment Income - Non-Operating |
4.0 |
3.2 |
2.6 |
2.6 |
0.3 |
|
Interest Income (Expense) - Net Non-Operating Total |
3.2 |
2.5 |
1.9 |
1.8 |
-0.5 |
|
Other Non-Operating Income (Expense) |
- |
- |
- |
- |
1.7 |
|
Other, Net |
- |
- |
- |
- |
1.7 |
|
Income Before Tax |
81.5 |
35.4 |
25.6 |
21.7 |
59.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
-33.8 |
12.4 |
9.0 |
7.6 |
2.5 |
|
Income After Tax |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
Net Income |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
108.8 |
108.7 |
115.3 |
117.3 |
116.8 |
|
Basic EPS Excl Extraord Items |
1.06 |
0.21 |
0.14 |
0.12 |
0.49 |
|
Basic/Primary EPS Incl Extraord Items |
1.06 |
0.21 |
0.14 |
0.12 |
0.49 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
Diluted Weighted Average Shares |
110.7 |
110.3 |
117.1 |
119.2 |
118.8 |
|
Diluted EPS Excl Extraord Items |
1.04 |
0.21 |
0.14 |
0.12 |
0.48 |
|
Diluted EPS Incl Extraord Items |
1.04 |
0.21 |
0.14 |
0.12 |
0.48 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.8 |
0.7 |
0.7 |
0.8 |
0.9 |
|
Depreciation, Supplemental |
6.1 |
5.1 |
5.0 |
5.0 |
5.1 |
|
Total Special Items |
- |
- |
- |
- |
1.7 |
|
Normalized Income Before Tax |
81.5 |
35.4 |
25.6 |
21.7 |
61.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
- |
- |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
-33.8 |
12.4 |
9.0 |
7.6 |
2.6 |
|
Normalized Income After Tax |
115.2 |
23.0 |
16.6 |
14.1 |
58.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
115.2 |
23.0 |
16.6 |
14.1 |
58.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.06 |
0.21 |
0.14 |
0.12 |
0.50 |
|
Diluted Normalized EPS |
1.04 |
0.21 |
0.14 |
0.12 |
0.49 |
|
Normalized EBIT |
78.3 |
32.9 |
23.7 |
19.9 |
60.1 |
|
Normalized EBITDA |
84.3 |
38.0 |
28.8 |
24.9 |
65.2 |
|
Interest Cost - Domestic |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Service Cost - Domestic |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Prior Service Cost - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Actuarial Gains and Losses - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Curtailments & Settlements - Domestic |
0.0 |
0.0 |
- |
- |
0.0 |
|
Domestic Pension Plan Expense |
0.7 |
0.7 |
0.7 |
0.7 |
0.6 |
|
Total Pension Expense |
0.7 |
0.7 |
0.7 |
0.7 |
0.6 |
|
Total Plan Interest Cost |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Total Plan Service Cost |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst & Young
LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
39.2 |
40.2 |
11.4 |
13.3 |
5.6 |
|
Short Term Investments |
248.6 |
261.3 |
176.5 |
142.5 |
87.8 |
|
Cash and Short Term Investments |
287.9 |
301.5 |
187.9 |
155.8 |
93.4 |
|
Accounts Receivable -
Trade, Gross |
16.8 |
15.5 |
17.2 |
19.1 |
24.2 |
|
Provision for Doubtful
Accounts |
-0.5 |
-0.7 |
-2.5 |
-1.6 |
-1.0 |
|
Trade Accounts Receivable - Net |
16.3 |
14.8 |
14.7 |
17.6 |
23.1 |
|
Other Receivables |
0.1 |
1.0 |
0.6 |
2.1 |
13.6 |
|
Total Receivables, Net |
16.4 |
15.9 |
15.3 |
19.7 |
36.8 |
|
Total Inventory |
322.5 |
311.8 |
313.5 |
316.3 |
411.7 |
|
Prepaid Expenses |
23.5 |
22.9 |
37.2 |
41.9 |
41.4 |
|
Total Current Assets |
650.3 |
652.0 |
553.8 |
533.7 |
583.3 |
|
|
|
|
|
|
|
|
Buildings |
188.5 |
180.8 |
176.8 |
192.4 |
197.2 |
|
Land/Improvements |
4.3 |
4.8 |
4.8 |
6.4 |
6.4 |
|
Machinery/Equipment |
365.1 |
327.6 |
313.3 |
318.0 |
320.0 |
|
Construction in
Progress |
7.2 |
4.2 |
0.6 |
0.8 |
0.0 |
|
Property/Plant/Equipment - Gross |
565.0 |
517.3 |
495.5 |
517.5 |
523.6 |
|
Accumulated Depreciation |
-461.4 |
-452.5 |
-439.7 |
-432.4 |
-408.6 |
|
Property/Plant/Equipment - Net |
103.6 |
64.8 |
55.8 |
85.1 |
115.0 |
|
Other Long Term Assets |
69.4 |
26.8 |
33.3 |
36.6 |
123.6 |
|
Other Long Term Assets, Total |
69.4 |
26.8 |
33.3 |
36.6 |
123.6 |
|
Total Assets |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
63.8 |
57.4 |
65.3 |
80.7 |
106.1 |
|
Accrued Expenses |
101.6 |
95.6 |
94.6 |
90.9 |
90.8 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.0 |
16.4 |
0.0 |
- |
|
Income Taxes Payable |
16.8 |
0.2 |
5.0 |
4.4 |
5.0 |
|
Other Current Liabilities |
63.2 |
83.1 |
55.9 |
57.8 |
74.1 |
|
Other Current liabilities, Total |
79.9 |
83.3 |
60.8 |
62.2 |
79.1 |
|
Total Current Liabilities |
245.4 |
236.4 |
237.2 |
233.8 |
276.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
Total Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
Total Debt |
9.5 |
9.5 |
35.4 |
184.0 |
184.0 |
|
|
|
|
|
|
|
|
Pension Benefits - Underfunded |
31.8 |
25.1 |
19.8 |
21.1 |
24.3 |
|
Other Long Term Liabilities |
43.1 |
59.8 |
63.8 |
72.3 |
69.9 |
|
Other Liabilities, Total |
74.8 |
84.9 |
83.7 |
93.4 |
94.2 |
|
Total Liabilities |
329.7 |
330.7 |
339.8 |
511.2 |
554.2 |
|
|
|
|
|
|
|
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
100.8 |
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
100.8 |
|
Additional Paid-In Capital |
231.9 |
243.1 |
264.5 |
214.0 |
126.8 |
|
Retained Earnings (Accumulated Deficit) |
462.8 |
293.8 |
193.7 |
106.8 |
236.1 |
|
Treasury Stock - Common |
-196.7 |
-123.4 |
-154.5 |
-175.5 |
-196.3 |
|
Other Comprehensive Income |
-4.5 |
-0.8 |
-0.7 |
-1.2 |
0.4 |
|
Other Equity, Total |
-4.5 |
-0.8 |
-0.7 |
-1.2 |
0.4 |
|
Total Equity |
493.6 |
412.9 |
303.1 |
144.3 |
267.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
Total Common Shares Outstanding |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
Treasury Shares - Common Stock Primary Issue |
15.5 |
7.7 |
9.6 |
10.9 |
12.2 |
|
Employees |
3,500 |
3,400 |
3,300 |
3,500 |
6,100 |
|
Number of Common Shareholders |
9,000 |
9,500 |
10,000 |
10,000 |
10,000 |
|
Total Long Term Debt, Supplemental |
9.5 |
9.5 |
35.6 |
184.0 |
184.0 |
|
Long Term Debt Maturing within 1 Year |
0.0 |
0.0 |
16.6 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 2 |
0.0 |
0.0 |
0.0 |
165.0 |
0.0 |
|
Long Term Debt Maturing in Year 3 |
0.0 |
0.0 |
0.0 |
0.0 |
165.0 |
|
Long Term Debt Maturing in Year 4 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing in Year 5 |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
0.0 |
0.0 |
0.0 |
165.0 |
165.0 |
|
Long Term Debt Maturing in 4-5 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Matur. in Year 6 & Beyond |
9.5 |
9.5 |
19.0 |
19.0 |
19.0 |
|
Total Operating Leases, Supplemental |
816.2 |
729.7 |
791.7 |
936.4 |
1,069.4 |
|
Operating Lease Payments Due in Year 1 |
216.9 |
211.7 |
208.3 |
225.5 |
228.2 |
|
Operating Lease Payments Due in Year 2 |
186.2 |
183.4 |
191.1 |
202.3 |
207.4 |
|
Operating Lease Payments Due in Year 3 |
136.4 |
144.5 |
157.4 |
177.6 |
182.9 |
|
Operating Lease Payments Due in Year 4 |
96.3 |
95.0 |
116.1 |
141.4 |
158.4 |
|
Operating Lease Payments Due in Year 5 |
67.4 |
50.3 |
62.8 |
99.5 |
121.2 |
|
Operating Lease Pymts. Due in 2-3 Years |
322.6 |
328.0 |
348.4 |
379.9 |
390.3 |
|
Operating Lease Pymts. Due in 4-5 Years |
163.7 |
145.3 |
178.9 |
240.9 |
279.5 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
113.0 |
44.7 |
56.1 |
90.1 |
171.3 |
|
Pension Obligation - Domestic |
23.5 |
18.4 |
17.1 |
17.6 |
16.6 |
|
Funded Status - Domestic |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Accumulated Obligation - Domestic |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Total Funded Status |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Compensation Rate - Domestic |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
|
Accrued Liabilities - Domestic |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Other Assets, Net - Domestic |
7.2 |
4.7 |
3.0 |
4.2 |
6.3 |
|
Net Assets Recognized on Balance Sheet |
-16.3 |
-13.7 |
-14.1 |
-13.4 |
-10.3 |
|
Total Plan Obligations |
23.5 |
18.4 |
17.1 |
17.6 |
16.6 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Nov-2011 |
27-Aug-2011 |
28-May-2011 |
26-Feb-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Cash |
39.2 |
42.5 |
39.8 |
39.6 |
40.2 |
|
Short Term Investments |
248.6 |
136.8 |
151.0 |
264.4 |
261.3 |
|
Cash and Short Term Investments |
287.9 |
179.3 |
190.8 |
304.0 |
301.5 |
|
Accounts Receivable - Trade,
Gross |
16.8 |
- |
- |
16.4 |
15.5 |
|
Provision for Doubtful
Accounts |
-0.5 |
- |
- |
-0.5 |
-0.7 |
|
Trade Accounts Receivable - Net |
16.3 |
26.6 |
14.1 |
15.9 |
14.8 |
|
Other Receivables |
0.1 |
0.1 |
0.2 |
0.4 |
1.0 |
|
Total Receivables, Net |
16.4 |
26.7 |
14.3 |
16.3 |
15.9 |
|
Total Inventory |
322.5 |
367.9 |
370.7 |
315.1 |
311.8 |
|
Prepaid Expenses |
23.5 |
21.5 |
20.3 |
27.2 |
22.9 |
|
Total Current Assets |
650.3 |
595.4 |
596.1 |
662.6 |
652.0 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Gross |
565.0 |
545.4 |
532.8 |
523.3 |
517.3 |
|
Accumulated Depreciation |
-461.4 |
-458.4 |
-459.0 |
-455.8 |
-452.5 |
|
Property/Plant/Equipment - Net |
103.6 |
87.0 |
73.9 |
67.5 |
64.8 |
|
Other Long Term Assets |
69.4 |
30.4 |
30.2 |
29.7 |
26.8 |
|
Other Long Term Assets, Total |
69.4 |
30.4 |
30.2 |
29.7 |
26.8 |
|
Total Assets |
823.4 |
712.8 |
700.2 |
759.8 |
743.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
63.8 |
68.4 |
79.1 |
71.7 |
57.4 |
|
Accrued Expenses |
111.7 |
115.3 |
101.2 |
93.4 |
106.7 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Taxes Payable |
16.8 |
11.7 |
6.9 |
5.3 |
0.2 |
|
Other Current Liabilities |
53.1 |
58.4 |
66.0 |
71.8 |
72.0 |
|
Other Current liabilities, Total |
69.9 |
70.1 |
72.9 |
77.1 |
72.2 |
|
Total Current Liabilities |
245.4 |
253.9 |
253.3 |
242.3 |
236.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
Total Long Term Debt |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
Total Debt |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
74.8 |
70.7 |
72.8 |
77.2 |
84.9 |
|
Other Liabilities, Total |
74.8 |
70.7 |
72.8 |
77.2 |
84.9 |
|
Total Liabilities |
329.7 |
334.0 |
335.6 |
329.0 |
330.7 |
|
|
|
|
|
|
|
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Additional Paid-In Capital |
231.9 |
230.5 |
229.7 |
228.9 |
243.1 |
|
Retained Earnings (Accumulated Deficit) |
462.8 |
347.5 |
324.6 |
307.9 |
293.8 |
|
Treasury Stock - Common |
-196.7 |
-197.2 |
-189.3 |
-105.5 |
-123.4 |
|
Other Comprehensive Income |
-4.5 |
-2.2 |
-0.4 |
-0.6 |
-0.8 |
|
Other Equity, Total |
-4.5 |
-2.2 |
-0.4 |
-0.6 |
-0.8 |
|
Total Equity |
493.6 |
378.8 |
364.6 |
430.8 |
412.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
823.4 |
712.8 |
700.2 |
759.8 |
743.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
109.7 |
109.7 |
110.4 |
118.5 |
117.5 |
|
Total Common Shares Outstanding |
109.7 |
109.7 |
110.4 |
118.5 |
117.5 |
|
Treasury Shares - Common Stock Primary Issue |
15.5 |
15.6 |
14.8 |
6.7 |
7.7 |
|
Total Operating Leases, Supplemental |
- |
- |
- |
- |
729.7 |
|
Operating Lease Payments Due in Year 1 |
- |
- |
- |
- |
211.7 |
|
Operating Lease Payments Due in Year 2 |
- |
- |
- |
- |
183.4 |
|
Operating Lease Payments Due in Year 3 |
- |
- |
- |
- |
144.5 |
|
Operating Lease Payments Due in Year 4 |
- |
- |
- |
- |
95.0 |
|
Operating Lease Payments Due in Year 5 |
- |
- |
- |
- |
50.3 |
|
Operating Lease Pymts. Due in 2-3 Years |
- |
- |
- |
- |
328.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
- |
- |
- |
- |
145.3 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
- |
- |
- |
- |
44.7 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Depreciation |
30.9 |
33.8 |
33.3 |
45.2 |
55.3 |
|
Depreciation/Depletion |
30.9 |
33.8 |
33.3 |
45.2 |
55.3 |
|
Deferred Taxes |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unusual Items |
2.5 |
0.5 |
-41.7 |
15.8 |
13.3 |
|
Other Non-Cash Items |
-23.4 |
2.0 |
21.2 |
0.4 |
9.0 |
|
Non-Cash Items |
-20.9 |
2.5 |
-20.6 |
16.2 |
22.3 |
|
Accounts Receivable |
-8.1 |
-8.5 |
9.9 |
9.4 |
16.8 |
|
Inventories |
-10.7 |
1.7 |
2.8 |
95.4 |
-51.6 |
|
Other Assets |
0.0 |
28.9 |
-0.2 |
1.2 |
0.8 |
|
Payable/Accrued |
7.5 |
-4.8 |
-26.5 |
-65.5 |
-22.8 |
|
Taxes Payable |
16.5 |
-3.0 |
0.5 |
-1.6 |
2.8 |
|
Other Liabilities |
- |
-2.4 |
-1.8 |
-2.7 |
-10.6 |
|
Other Operating Cash Flow |
0.0 |
0.0 |
-13.8 |
0.0 |
0.0 |
|
Changes in Working Capital |
5.2 |
11.9 |
-29.1 |
36.3 |
-64.7 |
|
Cash from Operating Activities |
142.2 |
148.4 |
70.6 |
-31.6 |
-83.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-62.3 |
-31.0 |
-5.2 |
-13.4 |
-7.2 |
|
Capital Expenditures |
-62.3 |
-31.0 |
-5.2 |
-13.4 |
-7.2 |
|
Sale of Business |
- |
- |
- |
0.0 |
0.0 |
|
Sale of Fixed Assets |
1.4 |
11.1 |
0.7 |
102.5 |
5.7 |
|
Sale/Maturity of Investment |
0.5 |
3.9 |
3.9 |
3.3 |
7.0 |
|
Purchase of Investments |
-1.6 |
-3.9 |
-3.7 |
-2.0 |
-0.6 |
|
Other Investing Cash Flow |
0.0 |
6.3 |
1.5 |
1.5 |
1.5 |
|
Other Investing Cash Flow Items, Total |
0.2 |
17.3 |
2.5 |
105.2 |
13.6 |
|
Cash from Investing Activities |
-62.1 |
-13.7 |
-2.8 |
91.8 |
6.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-3.1 |
0.0 |
-4.4 |
0.0 |
-1.0 |
|
Financing Cash Flow Items |
-3.1 |
0.0 |
-4.4 |
0.0 |
-1.0 |
|
Cash Dividends Paid - Common |
- |
- |
- |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
- |
- |
- |
0.0 |
0.0 |
|
Repurchase/Retirement
of Common |
-100.0 |
0.0 |
0.0 |
- |
- |
|
Common Stock, Net |
-100.0 |
0.0 |
0.0 |
- |
- |
|
Options Exercised |
9.3 |
5.0 |
0.3 |
2.2 |
3.9 |
|
Issuance (Retirement) of Stock, Net |
-90.7 |
5.0 |
0.3 |
2.2 |
3.9 |
|
Short Term Debt
Reduction |
- |
- |
- |
0.0 |
0.0 |
|
Short Term Debt, Net |
0.0 |
0.0 |
-31.6 |
0.0 |
0.0 |
|
Long Term Debt
Reduction |
0.0 |
-26.1 |
0.0 |
0.0 |
- |
|
Long Term Debt, Net |
0.0 |
-26.1 |
0.0 |
0.0 |
- |
|
Issuance (Retirement) of Debt, Net |
0.0 |
-26.1 |
-31.6 |
0.0 |
0.0 |
|
Cash from Financing Activities |
-93.8 |
-21.1 |
-35.7 |
2.2 |
2.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-13.6 |
113.6 |
32.1 |
62.4 |
-73.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
301.5 |
187.9 |
155.8 |
93.4 |
167.2 |
|
Net Cash - Ending Balance |
287.9 |
301.5 |
187.9 |
155.8 |
93.4 |
|
Cash Interest Paid |
4.8 |
6.0 |
20.6 |
14.0 |
15.7 |
|
Cash Taxes Paid |
18.8 |
7.3 |
2.0 |
2.6 |
1.1 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Nov-2011 |
27-Aug-2011 |
28-May-2011 |
26-Feb-2011 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
168.9 |
53.7 |
30.7 |
14.1 |
100.1 |
|
Depreciation |
30.9 |
23.1 |
16.6 |
9.7 |
33.8 |
|
Depreciation/Depletion |
30.9 |
23.1 |
16.6 |
9.7 |
33.8 |
|
Deferred Taxes |
-41.9 |
- |
- |
- |
0.0 |
|
Unusual Items |
2.5 |
1.2 |
0.2 |
0.1 |
0.5 |
|
Other Non-Cash Items |
-23.4 |
-17.4 |
-8.3 |
-3.8 |
2.0 |
|
Non-Cash Items |
-20.9 |
-16.2 |
-8.1 |
-3.7 |
2.5 |
|
Accounts Receivable |
-8.1 |
-16.7 |
-1.5 |
-9.0 |
-8.5 |
|
Inventories |
-10.7 |
-56.1 |
-58.9 |
-3.3 |
1.7 |
|
Other Assets |
0.0 |
- |
- |
- |
28.9 |
|
Payable/Accrued |
7.5 |
12.7 |
10.0 |
-0.8 |
-4.8 |
|
Taxes Payable |
16.5 |
11.5 |
6.7 |
5.1 |
-3.0 |
|
Other Liabilities |
- |
- |
- |
- |
-2.4 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
0.0 |
|
Changes in Working Capital |
5.2 |
-48.6 |
-43.7 |
-8.1 |
11.9 |
|
Cash from Operating Activities |
142.2 |
11.9 |
-4.5 |
12.0 |
148.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-62.3 |
-40.4 |
-21.3 |
-8.4 |
-31.0 |
|
Capital Expenditures |
-62.3 |
-40.4 |
-21.3 |
-8.4 |
-31.0 |
|
Sale of Fixed Assets |
1.4 |
1.3 |
1.3 |
0.0 |
11.1 |
|
Sale/Maturity of Investment |
0.5 |
0.4 |
0.3 |
0.3 |
3.9 |
|
Purchase of Investments |
-1.6 |
-1.2 |
-0.8 |
-0.5 |
-3.9 |
|
Other Investing Cash Flow |
0.0 |
0.0 |
- |
- |
6.3 |
|
Other Investing Cash Flow Items, Total |
0.2 |
0.5 |
0.8 |
-0.2 |
17.3 |
|
Cash from Investing Activities |
-62.1 |
-39.8 |
-20.4 |
-8.7 |
-13.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-3.1 |
-3.1 |
-3.0 |
-2.6 |
0.0 |
|
Financing Cash Flow Items |
-3.1 |
-3.1 |
-3.0 |
-2.6 |
0.0 |
|
Repurchase/Retirement
of Common |
-100.0 |
-100.0 |
-89.3 |
-3.1 |
0.0 |
|
Common Stock, Net |
-100.0 |
-100.0 |
-89.3 |
-3.1 |
0.0 |
|
Options Exercised |
9.3 |
8.8 |
6.6 |
4.9 |
5.0 |
|
Issuance (Retirement) of Stock, Net |
-90.7 |
-91.2 |
-82.7 |
1.8 |
5.0 |
|
Long Term Debt
Reduction |
0.0 |
0.0 |
0.0 |
- |
-26.1 |
|
Long Term Debt, Net |
0.0 |
0.0 |
0.0 |
- |
-26.1 |
|
Issuance (Retirement) of Debt, Net |
0.0 |
0.0 |
0.0 |
- |
-26.1 |
|
Cash from Financing Activities |
-93.8 |
-94.3 |
-85.7 |
-0.8 |
-21.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-13.6 |
-122.2 |
-110.7 |
2.6 |
113.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
301.5 |
301.5 |
301.5 |
301.5 |
187.9 |
|
Net Cash - Ending Balance |
287.9 |
179.3 |
190.8 |
304.0 |
301.5 |
|
Cash Interest Paid |
4.8 |
- |
- |
- |
6.0 |
|
Cash Taxes Paid |
18.8 |
- |
- |
- |
7.3 |
Annual Income Statement
As Reported
Financials in:
USD (mil)
Except for
share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
Total Revenue |
1,533.6 |
1,396.5 |
1,290.9 |
1,320.7 |
1,511.8 |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
882.4 |
841.1 |
850.4 |
957.2 |
1,072.3 |
|
Selling, general and administrative expe |
475.2 |
430.1 |
408.6 |
430.5 |
466.9 |
|
Lease termination costs |
- |
1.8 |
11.2 |
15.7 |
15.5 |
|
Severance and other |
- |
- |
1.3 |
5.5 |
7.6 |
|
Acquisition costs |
- |
- |
0.0 |
1.7 |
0.0 |
|
Loss (gain) on sale of fixed assets |
- |
- |
- |
- |
-2.1 |
|
Gain on Retirement of Debt |
0.0 |
0.0 |
-49.7 |
0.0 |
0.0 |
|
Depreciation |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Othet income (settlement of litigation) |
- |
0.0 |
-10.0 |
0.0 |
- |
|
Total Operating Expense |
1,378.9 |
1,292.7 |
1,234.5 |
1,441.2 |
1,600.0 |
|
|
|
|
|
|
|
|
Interest Income |
12.4 |
1.5 |
1.7 |
4.3 |
8.7 |
|
Interest Expense |
-3.1 |
-5.4 |
-23.7 |
-14.6 |
-15.9 |
|
Other, Net |
- |
3.7 |
-2.3 |
2.3 |
2.0 |
|
Net Income Before Taxes |
164.1 |
103.5 |
32.1 |
-128.6 |
-93.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Net Income After Taxes |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
112.5 |
116.5 |
100.7 |
88.9 |
88.1 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Basic EPS Including ExtraOrdinary Item |
1.50 |
0.86 |
0.86 |
-1.45 |
-1.09 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Diluted Weighted Average Shares |
114.4 |
117.5 |
100.7 |
88.9 |
88.1 |
|
Diluted EPS Excluding ExtraOrd Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
Diluted EPS Including ExtraOrd Items |
1.48 |
0.85 |
0.86 |
-1.45 |
-1.09 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
164.1 |
105.3 |
-15.0 |
-105.7 |
-72.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-4.8 |
3.5 |
-71.3 |
8.6 |
9.9 |
|
Normalized Income After Taxes |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
168.9 |
101.9 |
56.2 |
-114.3 |
-82.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.50 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Diluted Normalized EPS |
1.48 |
0.87 |
0.56 |
-1.29 |
-0.94 |
|
Interest Expense |
3.1 |
5.4 |
23.7 |
14.6 |
15.9 |
|
Depreciation |
21.2 |
19.7 |
22.5 |
30.6 |
39.8 |
|
Rental Expense |
223.2 |
218.0 |
232.1 |
244.8 |
254.3 |
|
Advertising Costs |
62.4 |
55.7 |
51.6 |
49.5 |
55.1 |
|
Current Tax - Federal |
32.7 |
-0.4 |
-56.3 |
0.3 |
0.5 |
|
Current Tax - State |
1.7 |
1.9 |
1.2 |
0.2 |
1.6 |
|
Current Tax - Foreign |
2.7 |
2.0 |
0.3 |
0.1 |
0.5 |
|
Current Tax - Total |
37.1 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Dfrd Tax - Federal |
-34.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dfrd Tax - State |
-7.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dfrd Tax - Foreign |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Tax - Total |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Tax - Total |
-4.8 |
3.4 |
-54.8 |
0.6 |
2.6 |
|
Operating loss |
-154.8 |
-103.7 |
- |
120.6 |
- |
|
Service Cost - Pension |
1.1 |
1.1 |
0.9 |
0.9 |
0.5 |
|
Interest Cost - Pension |
0.8 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Amort. of Prior Service Cost - Pension |
0.4 |
0.4 |
0.4 |
0.6 |
0.4 |
|
Amort. of Actuarial Gain/Loss - Pension |
0.5 |
0.1 |
0.0 |
0.4 |
0.1 |
|
Settlement Charges - Pension |
0.0 |
0.1 |
0.0 |
0.0 |
1.4 |
|
Curtailment Charges - Pension |
0.0 |
0.0 |
0.4 |
0.4 |
0.4 |
|
Domestic Pension Plan Expense |
2.8 |
2.5 |
2.5 |
3.2 |
3.5 |
|
Defined Contribution Plan |
1.9 |
2.3 |
1.8 |
2.1 |
2.3 |
|
Non - Qualified Retirement Sav. Plans |
0.7 |
0.6 |
0.5 |
0.7 |
0.8 |
|
Total Pension Expense |
5.4 |
5.3 |
4.8 |
6.0 |
6.6 |
|
Discount Rate - Pension |
4.25% |
4.75% |
5.00% |
- |
5.50% |
|
Lump-Sum Discount Rate - Pension |
5.00% |
5.00% |
5.00% |
- |
2.75% |
|
Compensation Rate - Pension |
0.00% |
0.00% |
0.00% |
- |
0.00% |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Nov-2011 |
27-Aug-2011 |
28-May-2011 |
26-Feb-2011 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net sales |
476.8 |
382.7 |
339.6 |
334.6 |
426.6 |
|
Total Revenue |
476.8 |
382.7 |
339.6 |
334.6 |
426.6 |
|
|
|
|
|
|
|
|
Cost of sales (including buying and stor |
259.7 |
217.2 |
205.0 |
200.5 |
244.1 |
|
Selling, general and administrative expe |
132.7 |
127.5 |
105.8 |
109.2 |
117.3 |
|
Depreciation and amortization |
6.1 |
5.1 |
5.0 |
5.0 |
5.1 |
|
Lease termination costs |
- |
- |
- |
- |
1.7 |
|
Othet income (settlement of litigation) |
- |
- |
- |
- |
0.0 |
|
Gain on retirement of debt |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
398.5 |
349.8 |
315.8 |
314.7 |
368.2 |
|
|
|
|
|
|
|
|
Interest and investment income and other |
4.0 |
3.2 |
2.6 |
2.6 |
0.3 |
|
Interest expense |
-0.8 |
-0.7 |
-0.7 |
-0.8 |
-0.9 |
|
Other income |
- |
- |
- |
- |
1.7 |
|
Net Income Before Taxes |
81.5 |
35.4 |
25.6 |
21.7 |
59.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-33.8 |
12.4 |
9.0 |
7.6 |
2.5 |
|
Net Income After Taxes |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
Net Income |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
108.8 |
108.7 |
115.3 |
117.3 |
116.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.06 |
0.21 |
0.14 |
0.12 |
0.49 |
|
Basic EPS Including ExtraOrdinary Item |
1.06 |
0.21 |
0.14 |
0.12 |
0.49 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
115.2 |
23.0 |
16.6 |
14.1 |
57.1 |
|
Diluted Weighted Average Shares |
110.7 |
110.3 |
117.1 |
119.2 |
118.8 |
|
Diluted EPS Excluding ExtraOrd Items |
1.04 |
0.21 |
0.14 |
0.12 |
0.48 |
|
Diluted EPS Including ExtraOrd Items |
1.04 |
0.21 |
0.14 |
0.12 |
0.48 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
81.5 |
35.4 |
25.6 |
21.7 |
61.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-33.8 |
12.4 |
9.0 |
7.6 |
2.6 |
|
Normalized Income After Taxes |
115.2 |
23.0 |
16.6 |
14.1 |
58.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
115.2 |
23.0 |
16.6 |
14.1 |
58.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.06 |
0.21 |
0.14 |
0.12 |
0.50 |
|
Diluted Normalized EPS |
1.04 |
0.21 |
0.14 |
0.12 |
0.49 |
|
Depreciation |
6.1 |
5.1 |
5.0 |
5.0 |
5.1 |
|
Interest Expense |
0.8 |
0.7 |
0.7 |
0.8 |
0.9 |
|
Service Cost - Pension |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Interest Cost - Pension |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Amort. of Prior Service Cost - Pension |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Actuarial Gain/Loss - Pension |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Settlement Charges - Pension |
0.0 |
0.0 |
- |
- |
0.0 |
|
Curtailment Charges - Pension |
0.0 |
- |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.7 |
0.7 |
0.7 |
0.7 |
0.6 |
|
Total Pension Expense |
0.7 |
0.7 |
0.7 |
0.7 |
0.6 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
39.2 |
40.2 |
11.4 |
13.3 |
5.6 |
|
Temp.Investments |
248.6 |
261.3 |
176.5 |
142.5 |
87.8 |
|
Accounts Rcvbl. |
16.8 |
15.5 |
17.2 |
19.1 |
24.2 |
|
Allowance |
-0.5 |
-0.7 |
-2.5 |
-1.6 |
-1.0 |
|
Inventories |
322.5 |
311.8 |
313.5 |
316.3 |
411.7 |
|
Income Tax Receivable |
0.1 |
1.0 |
0.6 |
2.1 |
13.6 |
|
Prepaid/Other |
23.5 |
22.9 |
37.2 |
41.9 |
41.4 |
|
Total Current Assets |
650.3 |
652.0 |
553.8 |
533.7 |
583.3 |
|
|
|
|
|
|
|
|
Office Building Held for Sale |
- |
- |
- |
- |
80.5 |
|
Land |
4.3 |
4.8 |
4.8 |
6.4 |
6.4 |
|
Buildings |
12.4 |
13.0 |
13.0 |
29.5 |
29.6 |
|
Furn. & Fixts. |
277.2 |
250.8 |
237.2 |
243.4 |
246.8 |
|
Leasehld Improv |
176.1 |
167.8 |
163.8 |
162.8 |
167.5 |
|
Computer Softw. |
87.8 |
76.8 |
76.2 |
74.6 |
73.2 |
|
Constr. in Prog |
7.2 |
4.2 |
0.6 |
0.8 |
0.0 |
|
Depreciation |
-461.4 |
-452.5 |
-439.7 |
-432.4 |
-408.6 |
|
Other Assets |
69.4 |
26.8 |
33.3 |
36.6 |
43.1 |
|
Total Assets |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
Accts. Payable |
63.8 |
57.4 |
65.3 |
80.7 |
106.1 |
|
Gift Cards |
53.1 |
72.0 |
44.4 |
47.3 |
63.1 |
|
Accrd. Taxes |
16.8 |
0.2 |
5.0 |
4.4 |
5.0 |
|
Current portion convertible debt |
- |
0.0 |
16.4 |
0.0 |
- |
|
Accrued payroll |
65.8 |
55.5 |
48.4 |
41.5 |
46.4 |
|
Accrued taxes |
20.0 |
20.4 |
22.8 |
23.6 |
24.0 |
|
Rent-related liabilities |
10.1 |
11.1 |
11.5 |
10.4 |
11.0 |
|
Other Accrued |
15.9 |
19.7 |
23.3 |
25.8 |
19.0 |
|
Retirement benefits |
- |
- |
- |
- |
1.4 |
|
Total Current Liabilities |
245.4 |
236.4 |
237.2 |
233.8 |
276.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
Total Long Term Debt |
9.5 |
9.5 |
19.0 |
184.0 |
184.0 |
|
|
|
|
|
|
|
|
Retirement Benefits |
31.8 |
25.1 |
19.8 |
21.1 |
24.3 |
|
Other |
43.1 |
59.8 |
63.8 |
72.3 |
69.9 |
|
Total Liabilities |
329.7 |
330.7 |
339.8 |
511.2 |
554.2 |
|
|
|
|
|
|
|
|
Common Stock |
0.1 |
0.1 |
0.1 |
0.1 |
100.8 |
|
Paid in Capital |
231.9 |
243.1 |
264.5 |
214.0 |
126.8 |
|
Retained Erngs. |
462.8 |
293.8 |
193.7 |
106.8 |
236.1 |
|
Comp. Income |
-4.5 |
-0.8 |
-0.7 |
-1.2 |
0.4 |
|
Treas./Other |
-196.7 |
-123.4 |
-154.5 |
-175.5 |
-196.3 |
|
Total Equity |
493.6 |
412.9 |
303.1 |
144.3 |
267.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
823.4 |
743.6 |
643.0 |
655.5 |
821.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
Total Common Shares Outstanding |
109.7 |
117.5 |
115.6 |
89.9 |
88.6 |
|
T/S-Common Stock |
15.5 |
7.7 |
9.6 |
10.9 |
12.2 |
|
Full-Time Employees |
3,500 |
3,400 |
3,300 |
3,500 |
6,100 |
|
Number of Common Shareholders |
9,000 |
9,500 |
10,000 |
10,000 |
10,000 |
|
Long Term Debt Maturing within 1 Year |
0.0 |
0.0 |
16.6 |
0.0 |
0.0 |
|
Long Term Debt Maturing within 2 Years |
0.0 |
0.0 |
0.0 |
165.0 |
0.0 |
|
Long Term Debt Maturing within 3 Years |
0.0 |
0.0 |
0.0 |
0.0 |
165.0 |
|
Long Term Debt Maturing within 4 Years |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Debt Maturing within 5 Years |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt Remaining Maturities |
9.5 |
9.5 |
19.0 |
19.0 |
19.0 |
|
Total Long Term Debt, Supplemental |
9.5 |
9.5 |
35.6 |
184.0 |
184.0 |
|
Operating Leases Maturing within 1 Year |
216.9 |
211.7 |
208.3 |
225.5 |
228.2 |
|
Operating Leases Maturing within 2 Years |
186.2 |
183.4 |
191.1 |
202.3 |
207.4 |
|
Operating Leases Maturing within 3 Years |
136.4 |
144.5 |
157.4 |
177.6 |
182.9 |
|
Operating Leases Maturing within 4 Years |
96.3 |
95.0 |
116.1 |
141.4 |
158.4 |
|
Operating Leases Maturing within 5 Years |
67.4 |
50.3 |
62.8 |
99.5 |
121.2 |
|
Operating Leases Remaining Maturities |
113.0 |
44.7 |
56.1 |
90.1 |
171.3 |
|
Total Operating Leases |
816.2 |
729.7 |
791.7 |
936.4 |
1,069.4 |
|
Projected Benefit Obligation - Pension |
23.5 |
18.4 |
17.1 |
17.6 |
16.6 |
|
Funded Status - Pension |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Accumulated Benefit Obligation - Pension |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Total Funded Status |
-23.5 |
-18.4 |
-17.1 |
-17.6 |
-16.6 |
|
Discount Rate - Pension |
3.25% |
4.25% |
4.75% |
5.00% |
5.00% |
|
Lump-Sum Discount Rate - Pension |
5.00% |
5.00% |
5.00% |
5.00% |
2.75% |
|
Compensation Rate - Pension |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
|
Current Liabilities - Pension |
-0.9 |
-0.1 |
-3.1 |
-1.8 |
-0.3 |
|
Non-Current Liabilities - Pension |
-22.6 |
-18.3 |
-14.0 |
-15.8 |
-16.3 |
|
Accum. & Other Com. Inc. Loss - Pension |
7.2 |
4.7 |
3.0 |
4.2 |
6.3 |
|
Net Assets Recognized on Balance Sheet |
-16.3 |
-13.7 |
-14.1 |
-13.4 |
-10.3 |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Nov-2011 |
27-Aug-2011 |
28-May-2011 |
26-Feb-2011 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Cash |
39.2 |
42.5 |
39.8 |
39.6 |
40.2 |
|
Temporary Investment |
248.6 |
136.8 |
151.0 |
264.4 |
261.3 |
|
Accounts receivable, net |
- |
26.6 |
14.1 |
- |
- |
|
Accounts Receivable |
16.8 |
- |
- |
16.4 |
15.5 |
|
Allowance |
-0.5 |
- |
- |
-0.5 |
-0.7 |
|
Inventories |
322.5 |
367.9 |
370.7 |
315.1 |
311.8 |
|
Income Tax Benefits |
0.1 |
0.1 |
0.2 |
0.4 |
1.0 |
|
Prepaid/Other |
23.5 |
21.5 |
20.3 |
27.2 |
22.9 |
|
Total Current Assets |
650.3 |
595.4 |
596.1 |
662.6 |
652.0 |
|
|
|
|
|
|
|
|
Property/Eqp. |
565.0 |
545.4 |
532.8 |
523.3 |
517.3 |
|
Accumulated depreciation |
-461.4 |
-458.4 |
-459.0 |
-455.8 |
-452.5 |
|
Other Assets |
69.4 |
30.4 |
30.2 |
29.7 |
26.8 |
|
Total Assets |
823.4 |
712.8 |
700.2 |
759.8 |
743.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
63.8 |
68.4 |
79.1 |
71.7 |
57.4 |
|
Gift cards/other |
53.1 |
58.4 |
66.0 |
71.8 |
72.0 |
|
Accrued Taxes |
16.8 |
11.7 |
6.9 |
5.3 |
0.2 |
|
Current portion long-term debt |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Accrued |
111.7 |
115.3 |
101.2 |
93.4 |
106.7 |
|
Total Current Liabilities |
245.4 |
253.9 |
253.3 |
242.3 |
236.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
Total Long Term Debt |
9.5 |
9.5 |
9.5 |
9.5 |
9.5 |
|
|
|
|
|
|
|
|
Deferred/Other |
74.8 |
70.7 |
72.8 |
77.2 |
84.9 |
|
Total Liabilities |
329.7 |
334.0 |
335.6 |
329.0 |
330.7 |
|
|
|
|
|
|
|
|
Common stock |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Paid-in capital |
231.9 |
230.5 |
229.7 |
228.9 |
243.1 |
|
Retained Earnings |
462.8 |
347.5 |
324.6 |
307.9 |
293.8 |
|
Comprehensive Income |
-4.5 |
-2.2 |
-0.4 |
-0.6 |
-0.8 |
|
Treas. Stk./Subscr. |
-196.7 |
-197.2 |
-189.3 |
-105.5 |
-123.4 |
|
Total Equity |
493.6 |
378.8 |
364.6 |
430.8 |
412.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
823.4 |
712.8 |
700.2 |
759.8 |
743.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
109.7 |
109.7 |
110.4 |
118.5 |
117.5 |
|
Total Common Shares Outstanding |
109.7 |
109.7 |
110.4 |
118.5 |
117.5 |
|
T/S-Common Stock |
15.5 |
15.6 |
14.8 |
6.7 |
7.7 |
|
Optg leases-year 1 |
- |
- |
- |
- |
211.7 |
|
Optg leases-year 2 |
- |
- |
- |
- |
183.4 |
|
Optg leases-year 3 |
- |
- |
- |
- |
144.5 |
|
Optg leases-year 4 |
- |
- |
- |
- |
95.0 |
|
Optg leases-year 5 |
- |
- |
- |
- |
50.3 |
|
Optg leases-year 6+ |
- |
- |
- |
- |
44.7 |
|
Total Operating Leases |
- |
- |
- |
- |
729.7 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Feb-2011 |
27-Feb-2010 |
28-Feb-2009 |
01-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
1 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
168.9 |
100.1 |
86.8 |
-129.3 |
-96.0 |
|
Depreciation |
30.9 |
33.8 |
33.3 |
45.2 |
55.3 |
|
Other |
1.4 |
4.5 |
3.1 |
-2.2 |
1.5 |
|
Amortization of deferred gains |
-13.9 |
-11.4 |
-7.8 |
-6.8 |
-2.5 |
|
Gain on retirement of convertible bonds |
0.0 |
0.0 |
-49.7 |
0.0 |
0.0 |
|
Charges related to the conversion of the |
0.0 |
0.0 |
18.3 |
0.0 |
0.0 |
|
Amortization of credit card deferred rev |
-22.7 |
- |
0.0 |
- |
- |
|
Deferred Taxes |
-41.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inventories |
-10.7 |
1.7 |
2.8 |
95.4 |
-51.6 |
|
Payable/Accrued |
7.5 |
-4.8 |
-26.5 |
-65.5 |
-22.8 |
|
Accounts receivable, prepaid expenses an |
-9.0 |
-8.0 |
8.3 |
-5.1 |
-8.8 |
|
Accrued Taxes |
16.5 |
-3.0 |
0.5 |
-1.6 |
2.8 |
|
Stock-based Compensation Expense |
6.2 |
4.7 |
3.8 |
5.2 |
5.8 |
|
Other Assets |
- |
0.6 |
-0.2 |
1.2 |
0.8 |
|
Purchase of proprietary credit card rece |
- |
- |
- |
0.0 |
0.0 |
|
Proceeds from an adjustment to the propr |
0.0 |
28.3 |
0.0 |
0.0 |
0.0 |
|
Other Liabs. |
- |
-2.9 |
-1.8 |
-0.1 |
-6.4 |
|
Other Noncurrent Liabilities |
- |
0.5 |
0.0 |
-2.5 |
-4.3 |
|
Loss on Assets |
0.6 |
-1.6 |
0.2 |
0.0 |
-2.1 |
|
Deferred Comp. |
5.6 |
4.2 |
3.7 |
4.2 |
4.2 |
|
Income Tax Receivables |
0.9 |
-0.5 |
1.6 |
14.5 |
25.6 |
|
Loss on impairment of fixed assets and l |
0.0 |
0.5 |
0.0 |
9.7 |
5.0 |
|
Sale of Receivables in Exchange of Int. |
- |
- |
- |
0.0 |
0.0 |
|
Lease Termination Ex |
1.9 |
1.6 |
7.7 |
6.1 |
10.4 |
|
Make whole interest provision |
0.0 |
0.0 |
-13.8 |
0.0 |
0.0 |
|
Cash from Operating Activities |
142.2 |
148.4 |
70.6 |
-31.6 |
-83.1 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-62.3 |
-31.0 |
-5.2 |
-13.4 |
-7.2 |
|
Assets Disposed |
1.4 |
11.1 |
0.7 |
102.5 |
5.7 |
|
Discontinued Operations |
- |
- |
- |
0.0 |
0.0 |
|
Proceeds from sale of Pier 1 National |
- |
- |
- |
0.0 |
0.0 |
|
Proceeds from Sale of Restricted Investm |
0.5 |
3.9 |
3.9 |
3.3 |
7.0 |
|
Restricted CPurchase of Restricted Inash |
-1.6 |
-3.9 |
-3.7 |
-2.0 |
-0.6 |
|
Collection of Note Receivable |
0.0 |
6.3 |
1.5 |
1.5 |
1.5 |
|
Beneficial Interest |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Investing Activities |
-62.1 |
-13.7 |
-2.8 |
91.8 |
6.4 |
|
|
|
|
|
|
|
|
Dividends Paid |
- |
- |
- |
0.0 |
0.0 |
|
Treasury Stock |
-100.0 |
0.0 |
0.0 |
- |
- |
|
Repayment of long-term debt |
0.0 |
-26.1 |
0.0 |
0.0 |
- |
|
Stock Options |
9.3 |
5.0 |
0.3 |
2.2 |
3.9 |
|
Notes Payable Borrowings |
0.0 |
0.0 |
-31.6 |
0.0 |
0.0 |
|
Repayment of Notes Payable |
- |
- |
- |
0.0 |
0.0 |
|
Debt Issuance Costs |
-3.1 |
0.0 |
-4.4 |
0.0 |
-1.0 |
|
Cash from Financing Activities |
-93.8 |
-21.1 |
-35.7 |
2.2 |
2.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-13.6 |
113.6 |
32.1 |
62.4 |
-73.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
301.5 |
187.9 |
155.8 |
93.4 |
167.2 |
|
Net Cash - Ending Balance |
287.9 |
301.5 |
187.9 |
155.8 |
93.4 |
|
Cash Interest Paid |
4.8 |
6.0 |
20.6 |
14.0 |
15.7 |
|
Cash Taxes Paid |
18.8 |
7.3 |
2.0 |
2.6 |
1.1 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
25-Feb-2012 |
26-Nov-2011 |
27-Aug-2011 |
28-May-2011 |
26-Feb-2011 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
USD |
USD |
USD |
USD |
USD |
|
Exchange Rate (Period
Average) |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
Net Income |
168.9 |
53.7 |
30.7 |
14.1 |
100.1 |
|
Depreciation |
30.9 |
23.1 |
16.6 |
9.7 |
33.8 |
|
Gain on Asset Sale |
0.6 |
- |
- |
- |
- |
|
Loss on impairment of fixed assets and o |
0.0 |
- |
- |
- |
0.5 |
|
(Gain)/loss on disposal of fixed assets |
- |
0.4 |
0.1 |
0.1 |
-1.6 |
|
Stock Based Compensation |
6.2 |
4.8 |
3.3 |
1.9 |
4.7 |
|
Dfrd. Compensation |
5.6 |
4.3 |
3.0 |
1.6 |
4.2 |
|
Amortization of credit card deferred rev |
-22.7 |
-15.6 |
- |
- |
- |
|
Lease Termination |
1.9 |
0.8 |
0.1 |
0.0 |
1.6 |
|
Amortization of Deferred Gains |
-13.9 |
-9.8 |
-15.5 |
-7.7 |
-11.4 |
|
Charges related to the conversion of the |
0.0 |
- |
- |
- |
0.0 |
|
Gain on retirement of convertible bonds |
0.0 |
- |
- |
- |
0.0 |
|
Deferred income taxes |
-41.9 |
- |
- |
- |
0.0 |
|
Other, Net |
1.4 |
-1.1 |
0.7 |
0.4 |
4.5 |
|
Inventories |
-10.7 |
-56.1 |
-58.9 |
-3.3 |
1.7 |
|
Accounts receivable, prepaid expenses |
-9.0 |
-17.6 |
-2.3 |
-9.6 |
-8.0 |
|
Income Tax Benefits |
0.9 |
0.9 |
0.8 |
0.7 |
-0.5 |
|
Accounts payable and accrued expenses |
7.5 |
12.7 |
10.0 |
-0.8 |
-4.8 |
|
Make whole interest provision |
0.0 |
- |
- |
- |
0.0 |
|
Defined benefit plan payments |
- |
- |
- |
- |
-2.9 |
|
Proceeds from an adjustment to the propr |
0.0 |
- |
- |
- |
28.3 |
|
Income taxes payable |
16.5 |
11.5 |
6.7 |
5.1 |
-3.0 |
|
Other Assets |
- |
- |
- |
- |
0.6 |
|
Other Liabs. |
- |
- |
- |
- |
0.5 |
|
Cash from Operating Activities |
142.2 |
11.9 |
-4.5 |
12.0 |
148.4 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-62.3 |
-40.4 |
-21.3 |
-8.4 |
-31.0 |
|
Dispositions |
1.4 |
1.3 |
1.3 |
0.0 |
11.1 |
|
Collection of Notes Receivable |
0.0 |
0.0 |
- |
- |
6.3 |
|
Purchase of Restricted Investments |
-1.6 |
-1.2 |
-0.8 |
-0.5 |
-3.9 |
|
Proceeds from sale of restricted investm |
0.5 |
0.4 |
0.3 |
0.3 |
3.9 |
|
Cash from Investing Activities |
-62.1 |
-39.8 |
-20.4 |
-8.7 |
-13.7 |
|
|
|
|
|
|
|
|
Purchases of Treasury Stock |
-100.0 |
-100.0 |
-89.3 |
-3.1 |
0.0 |
|
Proceeds from stock options exercised, s |
9.3 |
8.8 |
6.6 |
4.9 |
5.0 |
|
Debt issuance costs |
-3.1 |
-3.1 |
-3.0 |
-2.6 |
0.0 |
|
Retirement of convertible bonds |
0.0 |
- |
- |
- |
0.0 |
|
Repayment of long term |
0.0 |
0.0 |
0.0 |
- |
-26.1 |
|
Cash from Financing Activities |
-93.8 |
-94.3 |
-85.7 |
-0.8 |
-21.1 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-13.6 |
-122.2 |
-110.7 |
2.6 |
113.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
301.5 |
301.5 |
301.5 |
301.5 |
187.9 |
|
Net Cash - Ending Balance |
287.9 |
179.3 |
190.8 |
304.0 |
301.5 |
|
Cash Interest Paid |
4.8 |
- |
- |
- |
6.0 |
|
Cash Taxes Paid |
18.8 |
- |
- |
- |
7.3 |
Standard
& Poors
|
United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks,
Rising Debt Burden; Outlook Negative |
|
Publication
date: 05-Aug-2011 20:13:14 EST |
We have lowered our long-term sovereign
credit rating on the United States of America to 'AA+' from 'AAA' and affirmed
the 'A-1+' short-term rating.
We have also removed both the
short- and long-term ratings from CreditWatch negative.
The downgrade reflects our opinion that the fiscal consolidation plan
that Congress and the Administration recently agreed to falls short of what, in
our view, would be necessary to stabilize the government's medium-term debt
dynamics.
More broadly, the downgrade reflects our view that the effectiveness,
stability, and predictability of American policymaking and political
institutions have weakened at a time of ongoing fiscal and economic challenges
to a degree more than we envisioned when we assigned a negative outlook to the
rating on April 18, 2011.
Since then, we have changed our view of the difficulties in bridging
the gulf between the political parties over fiscal policy, which makes us
pessimistic about the capacity of Congress and the Administration to be able to
leverage their agreement this week into a broader fiscal consolidation plan
that stabilizes the government's debt dynamics any time soon.
The outlook on the long-term rating is negative. We could lower the
long-term rating to 'AA' within the next two years if we see that less
reduction in spending than agreed to, higher interest rates, or new fiscal
pressures during the period result in a higher general government debt
trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The transfer and convertibility
(T&C) assessment of the U.S.--our assessment of the likelihood of official
interference in the ability of U.S.-based public- and private-sector issuers to
secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term
rating on the U.S. because we believe that the prolonged controversy over
raising the statutory debt ceiling and the related fiscal policy debate
indicate that further near-term progress containing the growth in public
spending, especially on entitlements, or on reaching an agreement on raising
revenues is less likely than we previously assumed and will remain a
contentious and fitful process. We also believe that the fiscal consolidation
plan that Congress and the Administration agreed to this week falls short of
the amount that we believe is necessary to stabilize the general government
debt burden by the middle of the decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign
Government Rating Methodology and Assumptions ," June 30, 2011,
especially Paragraphs 36-41). Nevertheless, we view the U.S. federal
government's other economic, external, and monetary credit attributes, which
form the basis for the sovereign rating, as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The political brinksmanship of
recent months highlights what we see as America's governance and policymaking
becoming less stable, less effective, and less predictable than what we
previously believed. The statutory debt ceiling and the threat of default have
become political bargaining chips in the debate over fiscal policy. Despite
this year's wide-ranging debate, in our view, the differences between political
parties have proven to be extraordinarily difficult to bridge, and, as we see
it, the resulting agreement fell well short of the comprehensive fiscal
consolidation program that some proponents had envisaged until quite recently.
Republicans and Democrats have only been able to agree to relatively modest
savings on discretionary spending while delegating to the Select Committee
decisions on more comprehensive measures. It appears that for now, new revenues
have dropped down on the menu of policy options. In addition, the plan
envisions only minor policy changes on Medicare and little change in other entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign
Government Rating Methodology and Assumptions," June 30, 2011,
especially Paragraphs 36-41). In our view, the difficulty in framing a
consensus on fiscal policy weakens the government's ability to manage public
finances and diverts attention from the debate over how to achieve more
balanced and dynamic economic growth in an era of fiscal stringency and
private-sector deleveraging (ibid). A new political consensus might (or might
not) emerge after the 2012 elections, but we believe that by then, the
government debt burden will likely be higher, the needed medium-term fiscal
adjustment potentially greater, and the inflection point on the U.S.
population's demographics and other age-related spending drivers closer at hand
(see "Global
Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now,"
June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through
2021. These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the
committee might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In
general, the CBO's "Alternate Fiscal Scenario" assumes a continuation
of recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the U.S. net general government debt burden (all levels
of government combined, excluding liquid financial assets) will likely continue
to grow. Under our revised base case fiscal scenario--which we consider to be
consistent with a 'AA+' long-term rating and a negative outlook--we now project
that net general government debt would rise from an estimated 74% of GDP by the
end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of
sovereign indebtedness is high in relation to those of peer credits and, as
noted, would continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the
revisions show that the recent recession was deeper than previously assumed, so
the GDP this year is lower than previously thought in both nominal and real
terms. Consequently, the debt burden is slightly higher. Second, the revised
data highlight the sub-par path of the current economic recovery when compared
with rebounds following previous post-war recessions. We believe the sluggish
pace of the current economic recovery could be consistent with the experiences
of countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S. to
sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada,
France, Germany, and the U.K.--we also observe, based on our base case
scenarios for each, that the trajectory of the U.S.'s net public debt is
diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by 2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public
and private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could
lead us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
On Monday, we will issue
separate releases concerning affected ratings in the funds, government-related
entities, financial institutions, insurance, public finance, and structured
finance sectors.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.73 |
|
UK Pound |
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SCs credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.