|
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Apr. 28, 2012
|
Apr. 30, 2011
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| NET INCOME |
$ 37,809 |
$ 33,469 |
| Adjustments to reconcile net income to net cash flows from operating activities: |
|
|
| Depreciation and amortization |
7,894 |
7,500 |
| Amortization of non-vested stock grants, net of forfeitures |
2,138 |
1,621 |
| Deferred income taxes |
(791) |
(600) |
| Other |
211 |
311 |
| Changes in operating assets and liabilities: |
|
|
| Receivables |
515 |
1,580 |
| Inventory |
7,169 |
(1,273) |
| Prepaid expenses and other assets |
(557) |
(7,865) |
| Accounts payable |
4,578 |
9,744 |
| Accrued employee compensation |
(26,425) |
(20,740) |
| Accrued store operating expenses |
(1,830) |
(330) |
| Gift certificates redeemable |
(4,925) |
(4,299) |
| Income taxes payable |
9,555 |
18,620 |
| Deferred rent liabilities and deferred compensation |
2,422 |
1,194 |
| Net cash flows from operating activities |
37,763 |
38,932 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Purchase of property and equipment |
(8,772) |
(10,590) |
| Change in other assets |
|
(4) |
| Purchases of investments |
(5,718) |
(2,107) |
| Proceeds from sales/maturities of investments |
2,467 |
4,519 |
| Net cash flows from investing activities |
(12,023) |
(8,182) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from the exercise of stock options |
317 |
513 |
| Excess tax benefit from stock option exercises |
3,709 |
1,024 |
| Payment of dividends |
(9,584) |
(9,465) |
| Net cash flows from financing activities |
(5,558) |
(7,928) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS |
20,182 |
22,822 |
| CASH AND CASH EQUIVALENTS, Beginning of period |
166,511 |
116,470 |
| CASH AND CASH EQUIVALENTS, End of period |
$ 186,693 |
$ 139,292 |