Highlights of the Company's performance included:
- A 30% increase in fourth quarter earnings per share compared to the prior year (excluding certain items described below)
- A 3% increase in comparable store sales for the fourth quarter based upon comparable weeks, marking the Company's 10th consecutive quarterly comparable sales increase
- Fourth quarter merchandise gross margin improvement of 40 basis points of sales
- Cash flow from operations for the fiscal year of $522.7 million compared to $501.1 million for the prior year which made possible these actions for shareholders during the fourth quarter:
- Repurchase of $23.4 million of Class a Common Stock
Net Sales - Fourth Quarter
Net sales for the 14 weeks ended February 2, 2013 were $2.106 billion and $1.970 billion for the 13 weeks ended January 28, 2012. Net sales include the operations of the Company's construction business, CDI Contractors, LLC ("CDI").
Total merchandise sales (which exclude CDI) for the 14-week period ended February 2, 2013 were $2.087 billion and $1.946 billion for the 13-week period ended January 28, 2012. Total merchandise sales increased 7% for the 14-week period compared to the 13-week period. Based upon comparable weeks, total sales increased 2% and sales in comparable stores increased 3% for the fourth quarter.
Sales trends were strongest in ladies accessories and lingerie and men's apparel and accessories. Sales were weakest in the home and furniture category. Sales trends were strongest in the Central region, followed by the Eastern and Western regions, respectively.
Net Sales - Fiscal Year
Net sales for the 53 weeks ended February 2, 2013 were $6.593 billion and 6.264 billion for the 52 weeks ended January 28, 2012.
Total merchandise sales for the 53-week period ended February 2, 2013 were $6.489 billion and $6.194 billion for the 52-week period ended January 28, 2012. Total merchandise sales increased 5% for the 53-week period compared to the 52-week period. Based upon comparable weeks, total sales increased 3% and sales in comparable stores increased 4% for the fiscal year.
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