|
Consolidated
Statements of Cash Flows
(Dollar
amounts in thousands)
|
|
YEAR
ENDED
|
|
|
|
|
|
FEBRUARY
3,
2001
(53
WEEKS)
|
JANUARY
29,
2000
(52
WEEKS)
|
JANUARY
30, 1999
(52
WEEKS)
|
|
|
|
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
Net
income
|
$
115,202
|
$
58,460
|
$
36,668
|
|
Adjustments
to reconcile net income to net cash provided
by operating activities:
|
|
|
|
|
Depreciation and
amortization
|
45,830
|
43,377
|
40,035
|
|
Deferred rent
|
1,170
|
2,027
|
1,950
|
|
Net non-cash
compensation activity
|
705
|
931
|
914
|
|
Loss on disposal of
property and equipment
|
3,514
|
1,883
|
2,314
|
|
Deferred income taxes
|
(4,488)
|
627
|
1,187
|
|
Changes in current
assets and liabilities:
|
|
|
|
Customer accounts
receivable
|
(18,845)
|
(9,097)
|
(3,558)
|
|
Merchandise
inventories
|
(50,615)
|
(10,421)
|
18,608
|
|
Deferred catalog costs
|
(876)
|
40
|
3,460
|
|
Due from affiliates
|
(433)
|
(1,792)
|
1,915
|
|
Tax benefit from
options exercised
|
18,210
|
4,372
|
292
|
|
Prepaid and other
current assets
|
(14,222)
|
10
|
9,046
|
|
Accounts payable
|
25,721
|
(11,481)
|
8,617
|
|
Accrued liabilities
|
18,301
|
12,825
|
14,972
|
|
|
|
|
|
|
Net cash provided by
operating activities
|
139,174
|
91,761
|
136,420
|
|
|
|
|
|
|
|
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
Additions
to property and equipment, net of disposals
|
(77,756)
|
(55,171)
|
(45,065)
|
|
|
|
|
|
|
Net cash used in
investing activities
|
(77,756)
|
(55,171)
|
(45,065)
|
|
|
|
|
|
|
|
|
|
|
|
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
Payments
under notes payable to banks
|
-
|
-
|
(100,000)
|
|
Borrowings
of long-term debt
|
-
|
-
|
50,000
|
|
Cash
dividends
|
(16,792)
|
(14,388)
|
(14,007)
|
|
Proceeds
from options exercised
|
33,624
|
15,806
|
2,271
|
|
Purchase
of treasury stock
|
(29,880)
|
(36,316)
|
(20,050)
|
|
|
|
|
|
|
Net cash used in
financing activities
|
(13,048)
|
(34,898)
|
(81,786)
|
|
|
|
|
|
|
EFFECT
OF EXCHANGE RATE CHANGES ON CASH
|
(385)
|
114
|
(54)
|
|
|
|
|
|
|
NET
INCREASE IN CASH AND CASH EQUIVALENTS
|
47,985
|
1,806
|
9,515
|
|
|
|
|
|
|
CASH
AND CASH EQUIVALENTS, BEGINNING OF YEAR
|
22,001
|
20,195
|
10,680
|
|
|
|
|
|
|
CASH
AND CASH EQUIVALENTS, END OF YEAR
|
$
69,986
|
$
22,001
|
$
20,195
|
|
|
|
|
|
See
notes to consolidated financial statements.
|
