BIG by qingyunliuliu

VIEWS: 14 PAGES: 637

									BIG LOTS, INC.
(previous name: CONSOLIDATED STORES CORPORATION)



OVERVIEW - INDEPENDENT REVIEW OF FUNCTIONS AND ACTIVITIES

Big Lots, Inc, formerly known as Consolidated Stores Corporation, is the largest national broadline
closeout retailer with merchandising categories such as consumables, home, seasonal and toys as
well as other product categories in the United States. The company was founded in 1967 and has
its registered business office in Columbus, Ohio in the United States of America. In 2001,
Consolidated Stores Corporation was renamed as Big Lots, Inc. Big Lots offers various products
in each of the following categories: consumables that include such products as food, health and
beauty, plastics and paper; home category offers furniture, domestics and home decor items; and
seasonal and toys category offers products including toys, trim-a-tree and various
holiday-oriented articles. The company also trades electronics, apparel, home maintenance, small
appliances and tools. In the United States, the company has distribution centers in Columbus,
Ohio; Tremont, Pennsylvania; Montgomery, Alabama; Rancho Cucamonga, California; and Durant,
Oklahoma. As of February 2007, the company owns and operates 1,375 stores in 47 states. Big
Lots, Inc aspires to build its leadership position by expanding market presence in both existing
and new markets. One of the company's subsidiaries in the United States is Big Lots Stores, Inc.
-a private firm also has active interests in the retailing of consumable and non-consumable
products.




RAW DATA FORMAT


ASSETS
                                                                                          Cons
                                                                                      1/29/2011
                                                                                     12 months
                                                                                        Unqual
                                                                                        th USD
                                                                                             10-K
                                                                                      US GAAP


  Total Current Assets                                                                1,051,719
       Net Stated Inventory                                                            762,146
         Raw Materials                                                                        n.a.
         Work in Progress                                                                     n.a.
         Finished Goods                                                                       n.a.
         Inventory Prepayment and other Inv.                                                  n.a.
Adj.
       Net Accounts Receivable                                                                n.a.
    Accounts Receivable                     n.a.
    Doubtful Accounts                       n.a.
  Others                                 289,573
    Other Current Assets                  61,782
      Refundable Taxes                      n.a.
      Restricted Cash Equivalent            n.a.
      Other                               61,782
    Prepaid Expenses & Advances           50,252
      Prepaid Expenses                      n.a.
      Deferred Taxes                        n.a.
      Deferred income taxes               50,252
    Deferred Charges                        n.a.
    Total Cash & Short Term Investment   177,539
      Cash and Short Term Investments    177,539
      Cash or Equivalent                 177,539
           Cash                             n.a.
           Cash/Equivalents                 n.a.
           Cash and cash equivalents     177,539
      Short Term Investment                 n.a.
           Short-term investments           n.a.
           ST Investment                    n.a.


Fixed Assets                             567,880
  Net Properly, Plant & Equipment        524,906
    Land                                  45,104
      Land                                45,104
    Total Land Depreciation                 n.a.
    Net Stated land                         n.a.
    Buildings                            734,578
      Building/Improvements              734,578
      Buildings                             n.a.
    Total Buildings Depreciation            n.a.
    Net Buildings                           n.a.
    Plant & Machinery                    711,882
      Computer Sftwr.                     84,738
      Fixtures/Equip.                       n.a.
      Transportation equipment            21,652
      Fixtures and equipment             605,492
    Plant & Machinery Depreciation          n.a.
    Net Stated Plant & Machinery            n.a.
    Transportation Equipment                n.a.
      Transportation Equipment Deprec.         n.a.
      Net Transportation Equipment             n.a.
      Leased Assets                            n.a.
         Leases, net                           n.a.
      Leased Assets Depreciation               n.a.
      Net Leased Assets                        n.a.
      Other Property Plant & Equipment       20,592
         Construction in Progress            20,592
         Construct. in Progress                n.a.
      Other Property Plant & Equip.            n.a.
Deprec.
      Net Other Property Plant & Equip.        n.a.
      Accumulated Deprec., n.e.s.          -987,250
         Depreciation                      -987,250
    Intangibles                                n.a.
      Goodwill                                 n.a.
      Other Intangibles                        n.a.
    Other fixed assets                       42,974
      Exploration                              n.a.
      Long Term Receivables                    n.a.
      Investments                              n.a.
      Long Term Associated Companies           n.a.
      Investment Properties                    n.a.
      Other Long Term Assets                 42,974
         Deferred Income Taxes                 n.a.
         Deferred Tax                         6,666
         Discontinued Op.                      n.a.
         Restricted Cash                      8,000
         Other Assets                        28,308


  Total Assets                            1,619,599


Memo Lines
                                              Cons
                                          1/29/2011
                                          12 months
                                            Unqual
                                             th USD
                                               10-K
                                          US GAAP


    Property, plant & equipment at cost   1,512,156
       Revaluation of property, plant & equip.        n.a.
       Accumulated depreciation                   -987,250
         Depreciation                             -987,250
       Net property, plant & equipment             524,906
         Property/Equip., Net                         n.a.
       Goodwill & intangibles                         n.a.


       Supplementary Data


         Other Current Assets, Total               112,034
         Property/Equip., Net                         n.a.


LIABILITIES
                                                     Cons
                                                 1/29/2011
                                                 12 months
                                                   Unqual
                                                    th USD
                                                      10-K
                                                 US GAAP


  Total Current Liabilities                        541,931
       Loans                                          n.a.
         Current Long Term Debt                       n.a.
           Current maturities of long-term            n.a.
debt
           Current maturities of long term            n.a.
obligati
           Current maturities under bank              n.a.
credit fac
    Trade Creditors                                302,818
         Accounts Payable                          302,818
       Other                                       239,113
         Other Short Term Debt                          0
           Loans Payable                              n.a.
         Other Creditors                              n.a.
         Income Tax Payable                         25,215
           Income Taxes                             25,215
           Income Taxes Payable                       n.a.
         Social Expenditure Payable                   n.a.
         Dividends Payable                            n.a.
         Other Current Liabilities                 213,898
           Accrued/Other                              n.a.
           Accrued Interest                           n.a.
       Accrued & Other Liabilities          n.a.
       Accrued Salaries & wages           43,433
       Property, payroll & other taxes    75,401
       Accrued Operating Expenses         53,771
       Other Current Lisbilities            n.a.
       Insurance Reserves                 37,741
       KB Banktruptcy Lease Obligation     3,552
       KB Bankruptcy Lease Obligations      n.a.


Non Current Liabilities                  130,875
  Total LT Interest Bearing Debt              0
    Bank Loans                              n.a.
       Long term debt                       n.a.
    Debentures & Convertible Debt           n.a.
    Lease Liabilities                       n.a.
    Other LT Interest Bearing Debt          n.a.
  Other non-current liabilities          130,875
    Pension Fund Provisions                 n.a.
    Deferred Taxes                          n.a.
       Deferred Taxes                       n.a.
    Provisions                            46,145
       Insurance Reserves                 46,145
    Deferred Revenue                        n.a.
    Other LT Non-Interest Bearing Debt    84,730
       Deferred Rent                      42,037
       Other                              23,551
       Unrecognized tax benifts           19,142
    Minority Interest                       n.a.
       Minority Int.                        n.a.


Total Liabilities and Debt               672,806


Total Shareholders Equity                946,793
  Share Capital                            1,175
    Common Stock/Shares                    1,175
       Common Stock                        1,175
       NonVoting Common Stk                 n.a.
    Participation Shares                    n.a.
    Preferred Shares                        n.a.
    Redeemable Preferred Shares             n.a.
  Other                                  945,618
     Share Premiums                    523,341
        Paid in Capital                    n.a.
        Additional paid-in capital     523,341
     Treasury Shares                 -1,079,130
        Treasury Stock               -1,079,130
        Treasury Shares                    n.a.
     Revaluation Reserves                  n.a.
     Retained Earnings               1,511,877
        Retained Earning             1,511,877
     Other Shareholders Reserves       -10,470
        Shareholders' equity               n.a.
        Shareholders' Equity/Other         n.a.
        Unearned Compensation              n.a.
       Accumulated other               -10,470
comprehensive loss

 Total Liabilities and Equity        1,619,599


 Number of Employees                    35,600
   Full-Time Employees                  13,000
   Part-Time Employees                  22,600


Memo Lines
                                         Cons
                                     1/29/2011
                                     12 months
                                       Unqual
                                        th USD
                                          10-K
                                     US GAAP


 Total Debt                                  0
 Total Long Term Debt                        0
 Total Short Term Debt                       0
 Net Assets                            946,793
 Net Debt                             -177,539
 Enterprise Value                    3,341,709


   Supplementary Data


     Other Current Lisbilities             n.a.
     Insurance Reserves                 37,741
         KB Banktruptcy Lease Obligation         3,552
         KB Bankruptcy Lease Obligations           n.a.
         Total Debt                                  0
         Other Liabilities, Total              130,875
         Total Liabilities                     672,806
         S/O-Common Stock                       73,894
         Total Common Shares Outstanding        73,894
         T/S-Common Stock                       43,601
         Number of Common Shareholders             960
         Total Current Assets less Inventory   289,573
         Quick Ratio                               0.53
         Current Ratio                             1.94
         Net Debt                              -177,539
         Tangible Book Value                   946,793
         Tangible Book Value per Share           12.81
       Total Long Term Debt,                       n.a.
Supplemental
       Std. Long Term Debt Maturing                n.a.
within 1 Year
       Std. Long Term Debt Maturing in             n.a.
Year 2
       Std. Long Term Debt Maturing in             n.a.
Year 3
       Std. Long Term Debt Maturing in             n.a.
Year 4
       Std. Long Term Debt Maturing in             n.a.
Year 5
       Std. Long Term Debt Maturing in 2-3         n.a.
Years
       Std. Long Term Debt Maturing in             n.a.
Year 6 and Beyond
         Interest Cost                            -149
         Total Capital Leases                    2,123
         Std. Capital Lease Payments Due in      1,377
Year 1
         Std. Capital Lease Payments Due in        629
Year 2
         Std. Capital Lease Payments Due in        266
Year 3
         Std. Capital Lease Payments Due in          0
Year 4
         Std. Capital Lease Payments Due in          0
Year 5
       Std. Capital Lease Payments Due in          895
Years 2 and 3
       Std. Capital Lease Payments Due in            0
Years 4 and 5
       Std. Capital Lease Payments Due in         -149
Year 6 and Beyond
         Total Operating Leases                751,711
       Std. Operating Lease Payments Due       205,552
in Year 1
       Std. Operating Lease Payments Due       175,142
in Year 2
       Std. Operating Lease Payments Due        142,798
in Year 3
       Std. Operating Lease Payments Due        100,466
in Year 4
       Std. Operating Lease Payments Due         59,168
in Year 5
       Std. Operating Lease Payments Due        317,940
in Years 2 and 3
       Std. Operating Lease Payments Due        159,634
in Years 4 and 5
       Std.Operating Lease Payments Due          68,585
in Year 6 and Beyond


INCOME STATEMENT
                                                  Cons
                                              1/29/2011
                                              12 months
                                                Unqual
                                                 th USD
                                                   10-K
                                              US GAAP


  Total revenues                              4,952,244
      Gross sales                             4,952,244
        Net Sales                             4,952,244
      Adjustments/excise tax                        n.a.
    Net sales                                 4,952,244
    Other revenues                                  n.a.
  Cost of Goods Sold                          -2,939,793
    Cost of Sales                             -2,939,793
    Cost of sales exclusive of depreciation         n.a.
    Cost of Revenue, Total                    -2,939,793
    Depreciation                                -78,606
  Research & Development expenses                   n.a.
  Other Operating Items                       -1,576,500
    Selling and administrative expenses       -1,571,900
    Store                                           n.a.
    Restruct./Unusual                                 0
    Litigation Expenses (Selling)                 -4,600
    Gain on Sale of Real Estate                       0
    Other, Net                                        0
  EBITDA                                        435,951


  Total Deprec., Amort. & Depletion             -78,606
    Depreciation                             -78,606
      Depreciation                           -78,606
      Depreciation expense                      n.a.
    Amortization & Depletion                    n.a.
  Operating Income After Depr. & Amort.      357,345
  Unusual/Exceptional Items                     n.a.
  Earnings Before Interest & Tax             357,345
    Financial Revenue                           612
      Joint Venture Earnings                    n.a.
      Interest Income                           n.a.
      Interest and investment income            612
    Financial Expenses                        -2,573
      Interest Expense                        -2,573
  Financial P/L                               -1,961
  Other non Oper./Financial Inc./Exp.           n.a.
  Earnings before tax                        355,384
  Income taxes                              -132,837
    Provision for Income Taxes              -132,837
  Earnings after tax                         222,547
  Minority interest                             n.a.
  Other                                         n.a.
  Extraordinary items after tax                  -23
    Accounting Change                           n.a.
    Income (Loss) from discontinued             n.a.
operatio
    Income (Loss) from Discontinued Ops.         -23
    Extraordinary Item                          n.a.
  Preferred dividends                           n.a.
  Net Profit                                 222,524


  Ordinary dividends                              0
    Gross Dividends - Common Stock                0
  Dividend share capital other                  n.a.


Memo Lines
                                               Cons
                                           1/29/2011
                                           12 months
                                             Unqual
                                              th USD
                                                10-K
                                           US GAAP
    Amortization of Goodwill Pre-Tax              n.a.


    Operating Profit Discontinued Op.             n.a.
    Dividend Received                             n.a.
    Order Backlog                                 n.a.
    Monetary Correction                           n.a.


    Supplementary Data


        Gross Profit                        2,012,451
      Interest/Investment Income -                n.a.
Operating
      Total Operating Expense               -4,594,899
      Interest Expense, Net Non-                -2,573
Operating
      Interest/Investment Income, Non-            612
Operating
      Net Income Before Extra. Items          222,547
        Net Income                            222,524
      Income Available to Com Excl            222,547
ExtraOrd
      Basic Weighted Average Shares                78
        Basic EPS Excluding Extraordinary        2.87
Items
        Basic EPS Including Extraordinary        2.87
Items
        Dilution Adjustment                       n.a.
        Diluted Net Income                    222,524
        Diluted Weighted Average Shares            79
        Diluted EPS Excluding ExtraOrd           2.83
Items
        Diluted EPS Including ExtraOrd           2.83
Items
        DPS-Common Stock                         0.00
        Gross Dividends - Common Stock              0
      Pro Forma Stock Compensation                n.a.
Expense
      Net Income after Stock Based                n.a.
Comp. Exp.
      Basic EPS after Stock Based Comp.           n.a.
Exp.
      Diluted EPS after Stock Based               n.a.
Comp. Exp.
      Interest Expense                          -2,573
        Interest Capitalized                      n.a.
        Depreciation                          -78,606
        Total Special Items                     4,700
        Normalized Income Before Taxes        360,084
        Effect of Special Items on Income       1,757
Taxes
        Inc Tax Ex Impact of Sp Items         134,594
      Normalized Income After Taxes          225,490
      Normalized Inc. Avail to Com.          225,490
      Basic Normalized EPS                      2.91
      Diluted Normalized EPS                    2.87
      Rental Expense                        -261,784
      Advertising Expenses                    92,000
      Gross Margin                             40.64
      Operating Margin                          7.22
      Pretax Margin                             7.18
      Effective Tax Rate                       37.38
      Net Profit Margin                         4.49
      Normalized EBIT                        362,045
      Normalized EBITDA                      440,651
      Current Tax - Federal                   95,124
      Current Tax - Foreign                     n.a.
      Current Tax - State & Local             17,326
      Current Tax - Total                    112,450
      Deferred Tax-Total                      20,876
      Deferred Tax - State & Local              -489
      Deferred Tax - Total                    20,387
      Net Expenses Recognized for FIN 48        n.a.
      Income Tax - Total                     132,837
      Gross margin                              n.a.
      Operating profit                          n.a.
      Stock Based Compensation                24,628
Expense
      Audit fee                                1,165
      Audit related Fee                          18
      Tax Fee                                    87
      All Other Fee                               2




CASH FLOW STATEMENT
                                               Cons
                                           1/29/2011
                                           12 months
                                             Unqual
                                              th USD
                                                10-K
                                           US GAAP


Operating Cash Flows
  Net Income                              222,524
    Depreciation                           74,041
    Depletion                                 n.a.
  Depreciation/Depletion                   74,041
    Amortization of Intangibles               n.a.
    Amortization of Acquisition Costs         n.a.
  Amortization                                n.a.
  Deferred Taxes                           20,485
    Accounting Change                         n.a.
    Discontinued Operations                     0
    Extraordinary Item                        n.a.
    Unusual Items                             657
    Purchased R&D                             n.a.
    Equity in Net Earnings/Loss               n.a.
    Other Non-Cash Items                   29,107
  Non-Cash Items                           29,764
  Cash Receipts                               n.a.
  Cash Payments                               n.a.
    Accounts Receivable                       n.a.
    Inventories                            -30,809
    Prepaid Expenses                          n.a.
    Other Assets                            -8,238
    Accounts Payable                        -7,045
    Accrued Expenses                          n.a.
    Payable/Accrued                           n.a.
    Taxes Payable                           -1,736
    Other Liabilities                      16,271
    Other Assets & Liabilities, Net           n.a.
    Other Operating Cash Flow                 n.a.
  Changes in Working Capital               -31,557


  Total Cash from Operating Activities    315,257


Investing Cash Flows


    Purchase of Fixed Assets              -107,563
    Purchase/Acquisition of Intangibles       n.a.
    Software Development Costs                n.a.
  Capital Expenditures                    -107,563
    Acquisition of Business                   n.a.
    Sale of Business                           n.a.
    Sale of Fixed Assets                     1,301
    Sale/Maturity of Investment                n.a.
    Investment, Net                            n.a.
    Purchase of Investments                    n.a.
    Sale of Intangible                         n.a.
    Intangible, Net                            n.a.
    Other Investing Cash Flow                -8,290
  Other Investing Cash Flow Items, Total     -6,989


  Total Cash from Investing Activities     -114,552


Financing Cash Flows


    Other Financing Cash Flow               13,875
  Financing Cash Flow Items                 13,875
    Cash Dividends Paid - Common               n.a.
    Cash Dividends Paid - Preferred            n.a.
  Total Cash Dividends Paid                    n.a.
      Sale/Issuance of Common                  n.a.
      Repurchase/Retirement of Common      -350,823
    Common Stock, Net                      -350,823
      Sale/Issuance of Preferred               n.a.
      Repurchase/Retirement of Preferred       n.a.
    Preferred Stock, Net                       n.a.
    Sale/Issuance of Common/Preferred          n.a.
   Repurch./Retirement of                      n.a.
Common/Preferred
   Options Exercised                        32,512
    Warrants Converted                         n.a.
    Treasury Stock                             n.a.
  Issuance (Retirement) of Stock, Net      -318,311
      Short Term Debt Issued                   n.a.
      Short Term Debt Reduction                n.a.
    Short Term Debt, Net                       n.a.
      Long Term Debt Issued                    n.a.
      Long Term Debt Reduction               -2,463
    Long Term Debt, Net                      -2,463
    Total Debt Issued                          n.a.
    Total Debt Reduction                       n.a.
  Issuance (Retirement) of Debt, Net         -2,463
  Total Cash from Financing Activities       -306,899


Balance


  Foreign Exchange Effects                       n.a.


  Net Change in Cash                         -106,194
  Net Cash - Beginning Balance                283,733
  Net Cash - Ending Balance                   177,539


Supplementals


  Depreciation, Supplemental                   74,041
  Cash Interest Paid, Supplemental               830
  Cash Taxes Paid, Supplemental               100,136
  Reported Cash from Operating Activities        n.a.
  Reported Cash from Investing Activities        n.a.
  Reported Cash from Financing Activities        n.a.




KEY RATIOS
                                                Cons
                                            1/29/2011
                                            12 months
                                              Unqual
                                               th USD
                                                 10-K
                                            US GAAP


Return on Shareholders Funds (%)                37.54
Profit Margin (%)                                7.18
Return on Total Assets (%)                      21.94
Current Ratio                                    1.94
Solvency Ratio (%)                              58.46
Price Earning Ratio                             15.82




SECURITY AND PRICE INFORMATION
All figures have been adjusted based on the Stock split/Dividend ratio.


Key data


No of outstanding shares (6/3/2011):                  110,703,000
Current Market Capitalisation (th USD)                3,601,168
(based on stock price on 6/3/2011):


Security information


Type of share :                                       Ordinary Share
ISIN number :                                         US0893021032
Ticker symbol :                                       BIG
Nominal value (USD) :                                 0.01


Stock exchange(s) listed :                            New York Stock Exchange
                                                      Dusseldorf Stock Exchange
                                                      Frankfurt Stock Exchange


Stock index information :                             S&P 500 - UNITED STATES OF AMERICA


IPO date:                                             7/9/1986




Market prices (USD)                                                                   2011


January                                                                              31.79
February                                                                             41.03
March                                                                                43.43
April                                                                                41.11
May                                                                                  33.41
June                                                                                   n.a.
July                                                                                   n.a.
August                                                                                 n.a.
September                                                                              n.a.
October                                                                                n.a.
November                                                                               n.a.
December                                                                               n.a.


Date of current market price                                                       6/3/2011
Market price - current                                                               32.53
Market price - year to date - high                                                   44.44
Market price - year to date - low                                     30.25




Price Trends (%)                                                    6/3/2011


Price trends - last week                                               0.34
Price trends - four weeks                                            -17.25
Price trends - 13 weeks                                              -20.66
Price trends - quarter to date                                       -25.10
Price trends - previous quarter                                       42.58
Price trends - year to date                                            6.97
Price trends - 52 weeks                                               -4.94




Beta


Reference indice                     DOW JONES INDUSTRIAL AVERAGE
Beta - 3 months                                                         0.55
Beta - 1 month                                                          0.35
Beta - 1 year                                                           0.78
Correlation coefficient - 3 months                                      0.24
Correlation coefficient - 1 month                                       0.10
Correlation coefficient - 1 year                                        0.33


Reference indice                     NYSE COMPOSITE INDEX
Beta - 3 months                                                         0.45
Beta - 1 month                                                          0.28
Beta - 1 year                                                           0.62
Correlation coefficient - 3 months                                      0.21
Correlation coefficient - 1 month                                       0.10
Correlation coefficient - 1 year                                        0.31


Reference indice                     S&P 500 INDUSTRIAL COMPOSITE
Beta - 3 months                                                         n.a.
Beta - 1 month                                                          n.a.
Beta - 1 year                                                           n.a.
Correlation coefficient - 3 months                                      n.a.
Correlation coefficient - 1 month                                       n.a.
Correlation coefficient - 1 year                                        n.a.
Equity Price Volatility


Equity Price Volatility (360d)                                            0.32
Equity Price Volatility (100d)                                            0.38
Equity Price Volatility (50d)                                             0.31
Equity Price Volatility (30d)                                             0.38
Equity Price Volatility (10d)                                             0.29




CURRENT STOCK DATA



All figures have been adjusted based on the Stock split/Dividend ratio.


Date of current shares outstanding                                                  6/3/201
Shares outstanding - current                                                     110,703,00
Market capitalisation - current (th USD)                                           3,601,16


Date of last 12 months - EPS                                                       1/29/201
Earnings per share (USD)                                                                2.0
Cash flow per share (USD)                                                               2.7
Dividends per share (USD)                                                               0.0
Book value per share (USD)                                                              8.5




ANNUAL STOCK DATA


All figures have been adjusted based on the Stock split/Dividend ratio.


                                                                                   1/29/201
                                                                                        US




Stock split / Dividend ratio                                                            1.0
Market price - year end                                                                31.7
Market price - high                                                                    41.1
Market price - low                                                                     27.8




Shares outstanding (th)                                                             110,70
Nominal value                                                                           0.0
Market capitalisation (mil)                                                            3,51
Shareholders - common                                                      960.0




Earnings per share                                                            2.0




Cash flow per share                                                           2.7
Capital expenditure per share                                                 0.9
Operating rev. / Turnover per share                                         44.7
Operating profit per share                                                    3.2
Dividends per share                                                           0.0
Book value per share                                                          8.5
Tangible book value per share                                                 n.
Long term liabilities per share                                               1.1
Working capital per share                                                     n.




CURRENT STOCK VALUATION



All figures have been adjusted based on the Stock split/Dividend ratio.


                                                                          6/3/201
Price / Earnings ratio - current                                            16.1
Price / Earnings ratio - current high                                       22.1
Price / Earnings ratio - current low                                        15.0




Earnings yield (%) - current                                                  6.1
Earnings yield (%) - current high                                             6.6
Earnings yield (%) - current low                                              4.5




Price / Cash flow ratio - current                                           11.9
Dividend yield - current                                                      0.0
Dividend payout per share - current                                           0.0
Price / Book value ratio - current                                            3.8




ANNUAL STOCK VALUATION
All figures have been adjusted based on the Stock split/Dividend ratio.


                                                                          1/29/201




Price / Earnings ratio - close                                                15.8
Price / Earnings ratio - high                                                 20.4
Price / Earnings ratio - low                                                  13.8
Price / Earnings ratio - avg. high - low                                      17.1




Earnings yield (%) - close                                                     6.3
Earnings yield (%) - high                                                      7.2
Earnings yield (%) - low                                                       4.8
Earnings yield (%) - avg. high - low                                           5.8




Price / Cash flow ratio - close                                               11.6




Dividend yield - close                                                         0.0
Dividend yield - high                                                          0.0
Dividend yield - low                                                           0.0
Dividend yield - avg. high - low                                               0.0




Dividend payout per share                                                      0.0




Price / Book value ratio - close                                               3.7
Price / Book value ratio - high                                                4.8
Price / Book value ratio - low                                                 3.2
Price / Book value ratio - avg. high - low                                     4.0




Market capitalisation / Shareholders funds                                     3.7




MONTHLY PRICING SERIES
All figures have been adjusted based on the Stock split/Dividend ratio.
                                                                          2011
Monthly high prices (USD)
January                                                                   32.60
February                                                                  41.78
March                                                                     43.59
April                                                                     44.04
May                                                                       41.29
June                                                                       n.a.
July                                                                       n.a.
August                                                                     n.a.
September                                                                  n.a.
October                                                                    n.a.
November                                                                   n.a.
December                                                                   n.a.


Monthly low prices (USD)
January                                                                   30.25
February                                                                  31.57
March                                                                     39.77
April                                                                     40.57
May                                                                       30.83
June                                                                       n.a.
July                                                                       n.a.
August                                                                     n.a.
September                                                                  n.a.
October                                                                    n.a.
November                                                                   n.a.
December                                                                   n.a.


Month end market prices (USD)
January                                                                   31.79
February                                                                  41.03
March                                                                     43.43
April                                                                     41.11
May                                                                       33.41
June                                                                       n.a.
July                                                                       n.a.
August                                                                     n.a.
September                                                                  n.a.
October                                                                    n.a.
November                                                                   n.a.
December                                      n.a.


Monthly trading volume (shares)
January                                 24,511,348
February                                43,799,200
March                                   42,095,164
April                                   29,135,012
May                                     69,092,840
June                                          n.a.
July                                          n.a.
August                                        n.a.
September                                     n.a.
October                                       n.a.
November                                      n.a.
December                                      n.a.


Monthly average daily volume (shares)
January                                  1,225,567
February                                 2,305,221
March                                    1,830,225
April                                    1,456,751
May                                      3,290,135
June                                          n.a.
July                                          n.a.
August                                        n.a.
September                                     n.a.
October                                       n.a.
November                                      n.a.
December                                      n.a.


No of days traded
January                                        20
February                                       19
March                                          23
April                                          20
May                                            21
June                                          n.a.
July                                          n.a.
August                                        n.a.
September                                     n.a.
October                                       n.a.
November                                                                       n.a.
December                                                                       n.a.


Monthly Outstanding Shares (th)
January                                                                    110,703
February                                                                   110,703
March                                                                      110,703
April                                                                      110,703
May                                                                        110,703
June                                                                           n.a.
July                                                                           n.a.
August                                                                         n.a.
September                                                                      n.a.
October                                                                        n.a.
November                                                                       n.a.
December                                                                       n.a.


Monthly Market capitalisation (th USD)
January                                                                   3,519,248
February                                                                  4,542,144
March                                                                     4,807,831
April                                                                     4,551,000
May                                                                       3,698,587
June                                                                           n.a.
July                                                                           n.a.
August                                                                         n.a.
September                                                                      n.a.
October                                                                        n.a.
November                                                                       n.a.
December                                                                       n.a.




WEEKLY PRICING SERIES


All figures have been adjusted based on the Stock split/Dividend ratio.
                                                                           6/3/2011


High price (USD/sh)                                                          33.74
Low price (USD/sh)                                                           32.13
Closing price (USD/sh)                                                       32.53
210 day moving average (USD/sh)                                        36.06


Trading volume (no of sh/week)                                  13,362,496
Average daily volume (no of sh/day)                              3,340,624
No of days traded                                                           4


Shares Outstanding (th)                                              110,703


Market capitalisation (th USD )                                  3,601,168




Beta                                                                 6/3/2011


Reference indice:                     DOW JONES INDUSTRIAL AVERAGE
Beta - 3 months:                                                        0.55
Beta - 1 month:                                                         0.35
Beta - 1 year:                                                          0.78
Correlation coefficient - 3 months:                                     0.24
Correlation coefficient - 1 month:                                      0.10
Correlation coefficient - 1 year:                                       0.33


Reference indice:                     NYSE COMPOSITE INDEX
Beta - 3 months:                                                        0.45
Beta - 1 month:                                                         0.28
Beta - 1 year:                                                          0.62
Correlation coefficient - 3 months:                                     0.21
Correlation coefficient - 1 month:                                      0.10
Correlation coefficient - 1 year:                                       0.31


Reference indice:                     S&P 500 INDUSTRIAL COMPOSITE
Beta - 3 months:                                                         n.a.
Beta - 1 month:                                                          n.a.
Beta - 1 year:                                                           n.a.
Correlation coefficient - 3 months:                                      n.a.
Correlation coefficient - 1 month:                                       n.a.
Correlation coefficient - 1 year:                                        n.a.




Equity Price Volatility                                              6/3/2011
Equity Price Volatility (360 d)                                                    0.32
Equity Price Volatility (100 d)                                                    0.38
Equity Price Volatility (50 d)                                                     0.31
Equity Price Volatility (30 d)                                                     0.38
Equity Price Volatility (10 d)                                                     0.29




DAILY PRICING SERIES


All figures have been adjusted based on the Stock split/Dividend ratio.


Daily Closing Prices (USD)                                                6/2011
                          1                                               33.05
                          2                                               32.60
                          3                                               32.53
                          4
                          5
                          6                                               31.37
                          7                                               32.35
                          8                                               32.01
                          9                                               32.42
                         10
                         11
                         12
                         13
                         14
                         15
                         16
                         17
                         18
                         19
                         20
                         21
                         22
                         23
                         24
                         25
                         26
                         27
                         28
                         29
                   30
                   31
EARNINGS ESTIMATES



Annual estimates


                        Fiscal year end


                        No of brokers providing EPS estimates
                        Number of estimates


                        Number up(from last week)
                        Number down(from last week)
                        Number confirmed(from last week)
                        Number no revision(from last week)


                        Number up(from last month)
                        Number down(from last month)
                        Number confirmed(from last month)
                        Number no revision(from last month)


                        Number up(%)(from last week)
                        Number down(%)(from last week)
                        Number confirmed(%)(from last week)
                        Number no revision(%)(from last week)


                        Number up(%)(from last month)
                        Number down(%)(from last month)
                        Number confirmed(%)(from last month)
                        Number no revision(%)(from last month)


                        EPS
                        EPS mean estimate (USD)
                        Change in mean (from last week) (USD)
                        Change in mean (from last month) (USD)


                        EPS median estimate (USD)
                        Change in median (from last week) (USD)
                        Change in median (from last month) (USD)


                        High estimate (USD)
                                              Low estimate (USD)


                                              Standard deviation (USD)
                                              Standard deviation (relative)(%)


                                              P/E Ratio (reference date: 6/3/2011)
                                              P/E Ratio, median estimate :




Quarterly estimates


                                              Fiscal quarter end




                                              No of brokers providing EPS estimates
                                              Number of estimates


                                              EPS
                                              EPS mean estimate (USD)


                                              EPS median estimate (USD)
                                              Change in median (from last week) (USD)
                                              Change in median (from last month) (USD)


                                              High estimate (USD)
                                              Low estimate (USD)
                                              P/E Ratio
                                              Standard deviation (USD)
                                              Standard deviation (relative)(%)



Notice
Broker estimates sourced from FactSet/JCF Estimates
FactSet/JCF Estimates calculates consensus using only those estimates changed or actively validated within the last 75 days.




EARNING ESTIMATES : other variables


Fiscal year end                                                                    1/31/2012


Net dividend per share
No of brokers providing estimates
Number of estimates                    1


Net dividend
Net dividend mean (USD)              0.00
Net dividend median (USD)            0.00


High estimate (USD)                  0.00
Low estimate (USD)                   0.00
Net dividend yield median(%)         0.00
Standard deviation (USD)             n.a.
Standard deviation (relative)        n.a.


Revisions over last 2 months(%)      n.a.
Revisions over last 3 months(%)      n.a.
Revisions over last 6 months(%)      n.a.


Cash flow per share


No of brokers providing estimates
Number of estimates                    0


Cash flow
Cash flow mean (USD)                    -
Cash flow median (USD)                  -


High estimate (USD)                     -
Low estimate (USD)                      -
Price to cash flow ratio median(%)      -
Standard deviation (USD)                -
Standard deviation (relative)           -


Revisions over last 2 months(%)         -
Revisions over last 3 months(%)         -
Revisions over last 6 months(%)         -


Net assets per share


No of brokers providing estimates
Number of estimates                    1
Net assets
Net assets mean (USD)               14.86
Net assets median (USD)             14.86


High estimate (USD)                 14.86
Low estimate (USD)                  14.86
Standard deviation (USD)             0.00
Standard deviation (relative)        0.00


Revisions over last 2 months(%)      0.00
Revisions over last 3 months(%)      0.00
Revisions over last 6 months(%)      1.38


Net profit


No of brokers providing estimates
Number of estimates                   14


Net profit
Net profit mean (mil. USD)           219
Net profit median (mil. USD)         218


High estimate (mil. USD)             234
Low estimate (mil. USD)              208
Standard deviation (mil. USD)        7.54
Standard deviation (relative)        3.44


Revisions over last 2 months(%)     -7.87
Revisions over last 3 months(%)     -7.87
Revisions over last 6 months(%)     -3.65


Sales


No of brokers providing estimates
Number of estimates                   16


Sales
Sales mean (mil. USD)               5,086
Sales median (mil. USD)             5,082
High estimate (mil. USD)            5,153
Low estimate (mil. USD)             5,049
Standard deviation (mil. USD)       26.62
Standard deviation (relative)        0.52


Revisions over last 2 months(%)     -2.27
Revisions over last 3 months(%)     -2.26
Revisions over last 6 months(%)     -2.01


EBIT


No of brokers providing estimates
Number of estimates                   13


EBIT
EBIT mean (mil. USD)                 359
EBIT median (mil. USD)               358


High estimate (mil. USD)             380
Low estimate (mil. USD)              346
Standard deviation (mil. USD)       11.04
Standard deviation (relative)        3.08


Revisions over last 2 months(%)     -6.75
Revisions over last 3 months(%)     -6.75
Revisions over last 6 months(%)     -2.32


EBITDA


No of brokers providing estimates
Number of estimates                   11


EBITDA
EBITDA mean (mil. USD)               445
EBITDA median (mil. USD)             442


High estimate (mil. USD)             465
Low estimate (mil. USD)              436
Standard deviation (mil. USD)        9.27
Standard deviation (relative)        2.08
Revisions over last 2 months(%)               -7.05
Revisions over last 3 months(%)               -7.05
Revisions over last 6 months(%)               -2.71


Recommendations


Brokers providing recommendations (75 days)


Number of brokers                               18
Number providing buy recommendations             6
Number providing overweight                      0
recommendations
Number providing hold recommendations           11
Number providing underweight                     0
recommendations
Number providing sell recommendations            1


Number providing buy recommendations(%)       33.33
Number providing overweight                    0.00
recommendations(%)
Number providing hold recommendations(%)      61.11
Number providing underweight                   0.00
recommendations(%)
Number providing sell recommendations(%)       5.56


Evolution of recommendations (30 days)


Number of brokers                               18
Number raising recommendations                   3
Number lowering recommendations                  3
Number unchanged on recommendations             12


Number raising recommendations(%)             16.67
Number lowering recommendations(%)            16.67
Number unchanged on recommendations(%)        66.67


Recommendation


Value of FactSet/JCF recommendation            1.72




BOARD MEMBERS & MANAGERS
Name

STEVEN S FISHMAN

JOE R COOPER
LISA M BACHMANN

CHARLES W HAUBIEL

JOHN C MARTIN
DOUGLAS N WURL
ROBERT C CLAXTON
CHRISTOPHER T CHAPIN
NORMAN J RANKIN
ROBERT S SEGAL
STEVEN R SMART
HAROLD A WILSON

PAUL A SCHROEDER
TIMOTHY A JOHNSON

JEFFREY P BERGER
PETER J HAYES
DAVID T KOLLAT
BRENDA J LAUDERBACK
PHILIP E MALLOTT
RUSSELL SOLT
JAMES R TENER
DENNIS B TISHKOFF




Additional details


STEVEN S FISHMAN (59 years)
CHAIRMAN OF THE BOARD, PRESIDENT, CHIEF EXECUTIVE OFFICER (since 7/11/2005)


Mr. Steven S. Fishman is Chairman of the Board, President, Chief Executive Officer of Big Lots Inc., since 2005. Before joining in July 2005,
bankruptcy on September 8, 2004); and the President and Founder of SSF Resources, Inc. (investment and consulting). Mr. Fishman's leade




Compensation (1/29/2011)
Source : DEF 14A (4/12/2011)


JOE R COOPER (53 years)
CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT (since 3/12/2010)


Mr. Joe R. Cooper is Chief Financial Officer, Executive Vice President of Big Lots Inc. He is responsible for treasury, tax, investor relations, lo
Vice President and Chief Financial Officer in February 2004. Mr. Cooper joined the Company as Vice President of Strategic Planning and Inv




Education :                                      Stetson University BBA
                                                 Stetson University MBA




Compensation (1/29/2011)




Source : DEF 14A (4/12/2011)


LISA M BACHMANN (49 years)
EXECUTIVE VICE PRESIDENT - SUPPLY CHAIN MANAGEMENT, CHIEF INFORMATION OFFICER (since 3/12/2010)


Ms. Lisa M. Bachmann is Executive Vice President - Supply Chain Management, Chief Information Officer of Big Lots Inc. She is responsible
for information technology in August 2005. Ms. Bachman joined the Company as Senior Vice President of Merchandise Planning, Allocation




Education :                                      Western New England College B Accounting
                                                 Western New England College MBA




Compensation (1/29/2011)
Source : DEF 14A (4/12/2011)


CHARLES W HAUBIEL (45 years)
EXECUTIVE VICE PRESIDENT - LEGAL AND REAL ESTATE, GENERAL COUNSEL, CORPORATE SECRETARY (since 3/12/2010)


Mr. Charles W. Haubiel, II, is Executive Vice President - Legal and Real Estate, General Counsel, Corporate Secretary of Big Lots Inc. He is
Haubiel joined the Company in 1997 as Senior Staff Counsel and was promoted to Director, Corporate Counsel and Assistant Secretary in 1



Education :                                    Purdue University B
                                               Ohio State University JD




Compensation (1/29/2011)




Source : DEF 14A (4/12/2011)


JOHN C MARTIN (60 years)
EXECUTIVE VICE PRESIDENT - ADMINISTRATION (since 4/18/2011)


Mr. John Charles Martin is Executive Vice President - Administration of Big Lots Inc. He served as Executive Vice President - Merchandising
retailer, and President, Retail Stores Division of OfficeMax Incorporated, an office supply retailer.



Compensation (1/29/2011)




Source : DEF 14A (4/12/2011)
DOUGLAS N WURL (49 years)
EXECUTIVE VICE PRESIDENT - MERCHANDISING (since 4/18/2011)


Mr. Douglas N. Wurl has been appointed as the Executive Vice President, Merchandising of Big Lots Inc. With his hiring, Mr. Wurl is respons
Operating Co., LLC, a retailer, as its Senior Vice President, General Merchandise Manager. He is a graduate of Buffalo State College.



Education :                                     State University of New York at Buffalo




Source : NA


ROBERT C CLAXTON (56 years)
SENIOR VICE PRESIDENT - MARKETING (since 2005)


Mr. Robert C. Claxton is Senior Vice President - Marketing of Big Lots Inc. He is responsible for marketing, merchandise presentation, and s



Source : NA


CHRISTOPHER T CHAPIN (47 years)
SENIOR VICE PRESIDENT - STORE OPERATIONS (since 5/27/2008)


Mr. Christopher T. Chapin is Senior Vice President - Store Operations of Big Lots Inc. He is responsible for merchandising. Prior to joining th
Division of OfficeMax Incorporated, an office supply retailer.



Education :                                     University of Wisconsin, Stout B Manufacturing Engineering




Source : NA


NORMAN J RANKIN (54 years)
SENIOR VICE PRESIDENT - BIG LOTS CAPITAL AND WHOLESALE (since 1/9/2008)


Mr. Norman J. Rankin is Senior Vice President - Big Lots Capital and Wholesale of Big Lots Inc. He is responsible for alternative product sou
merger with Mac Frugal's Bargains Close-outs, Inc., a discount retailer. In 1999, Mr. Rankin was promoted to Senior Vice President.



Source : NA


ROBERT S SEGAL (56 years)
SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER (since 1/7/2008)


Mr. Robert Samuel Segal is Senior Vice President, General Merchandise Manager of Big Lots Inc. He is responsible for merchandising in the
seasonal category in March 2010. Prior to joining the Company, Mr. Segal served as Divisional Vice President, Housewares and Home of Sh



Source : NA


STEVEN R SMART (51 years)
SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER (since 3/12/2010)


Mr. Steven Ray Smart is Senior Vice President, General Merchandise Manager of Big Lots Inc. is responsible for merchandising in the consu
Company, Mr. Smart served as Senior Vice President, Retail of Fleming, a wholesaler, which filed for bankruptcy in 2003.



Source : NA


HAROLD A WILSON (62 years)
SENIOR VICE PRESIDENT - DISTRIBUTION AND TRANSPORTATION SERVICES


Mr. Harold A. Wilson is Senior Vice President - Distribution and Transportation Services of Big Lots Inc. He is responsible for warehousing, d



Source : NA


PAUL A SCHROEDER (45 years)
VICE PRESIDENT, CONTROLLER (since 9/2005)


Mr. Paul A. Schroeder is Vice President, Controller of Big Lots Inc. He is responsible for internal and external financial reporting and account
American Signature, Inc., a furniture retailer, and held finance positions with Limited Brands, Inc., a retailer.



Source : NA


TIMOTHY A JOHNSON (43 years)
VICE PRESIDENT - STRATEGIC PLANNING AND INVESTOR RELATIONS (since 2/2004)


Mr. Timothy A. Johnson is Vice President - Strategic Planning and Investor Relations of Big Lots Inc. He is responsible for strategic planning



Source : NA


JEFFREY P BERGER (61 years)
INDEPENDENT DIRECTOR (since 8/15/2006)
Mr. Jeffrey P. Berger is Independent Director of Big Lots Inc., since 2006. He is the former Executive Vice President, Global Foodservice, an
qualification as an ôaudit committee financial,ö as defined by applicable SEC rules.



Education :                                     California University of Pennsylvania B Educational Administration
                                                California University of Pennsylvania M Educational Administration




Source : NA


PETER J HAYES (68 years)
INDEPENDENT DIRECTOR (since 12/5/2008)


Mr. Peter J. Hayes is Independent Director of Big Lots Inc., since 2008. Mr. Hayes is the former Chief Operating Officer of Variety Wholesale
discount retail, his leadership experience at corporations and his qualification as an ôaudit committee financial,ö as defined by applicable SE



Source : NA


DAVID T KOLLAT (72 years)
INDEPENDENT DIRECTOR (since 1990)


Dr. David T. Kollat is Independent Director of Big Lots Inc., since 1990. He is the President and Founder of 22, Inc. (research and manageme
committee), and Wolverine World Wide, Inc. (where he is the lead director and a member of the compensation committee). Dr. Kollat's expe




Source : NA


BRENDA J LAUDERBACK (60 years)
INDEPENDENT DIRECTOR (since 1997)


Ms. Brenda J. Lauderback is Independent Director of Big Lots Inc., since 1997. She is the former President û Wholesale Group of Nine Wes
Lauderback is also currently a director of Denny's Corporation (where she is the chair of the corporate governance and nominating committe
committee). Ms. Lauderback previously served as a director of Irwin Financial Corporation. Ms. Lauderback's service on the boards of other




Education :                                     Robert Morris University BS (1972)




Source : NA


PHILIP E MALLOTT (53 years)
INDEPENDENT DIRECTOR (since 5/22/2003)
Mr. Philip E. Mallott is Independent Director of Big Lots Inc., since 2003. He is an independent financial consultant and retail stock analyst. M
on the boards of other public companies and charitable organizations, and his experience in leadership roles with other retailers led to the co



Source : NA


RUSSELL SOLT (63 years)
INDEPENDENT DIRECTOR (since 5/22/2003)


Mr. Russell Solt is Independent Director of Big Lots Inc., since 2003. He is the former Director of Investor Relations of West Marine, Inc. (spe
experience as a certified public accountant and as the Chief Financial Officer of other publicly-traded retailers, his background in investor rel



Education :                                      California State University, Northridge BS Business Administration




Source : NA


JAMES R TENER (61 years)
INDEPENDENT DIRECTOR (since 1/30/2005)


Mr. James R. Tener is Independent Director of Big Lots Inc., since 2005. He is the former President and Chief Operating Officer of Brook Ma
service on the board of a privately-held company make him a solid choice to continue serving on the Board.



Source : NA


DENNIS B TISHKOFF (67 years)
INDEPENDENT DIRECTOR (since 1991)


Mr. Dennis B. Tishkoff is Independent Director of Big Lots Inc., since 1991. He is the Chairman and Chief Executive Officer of Drew Shoe Co
in senior management roles of other retailers and wholesalers, his experience with importing merchandise and his leadership skills led to the



Source : NA




AUDITORS & ADVISORS



Auditor :
                                                 DELOITTE & TOUCHE LLP


Transfer Agent :
                                              National City Bank


SHAREHOLDERS


BvD Independence Indicator:A+
Current definition of the UO :                path of min 25.01% of control, known
                                              shareholders

This is a quoted company.


Filters :                                     No filter




The companies underlined and displayed in blue - bold are available on Osiris.
The companies underlined and displayed in dark - bold are available on other BvD Databases.
                                              Shareholder name




Shareholders
1.                                            WELLINGTON MANAGEMENT CO L.L.P. via
                                              its funds
2.                                            SASCO CAPITAL INC via its funds
3.                                            VANGUARD GROUP, INC. THE via its funds
4.                                            LSV ASSET MANAGEMENT via its funds
5.                                            BLACKROCK, INC. via its funds
6.                                            JANUS CAPITAL GROUP, INC. via its funds
7.                                            WESTPORT ASSET MANAGEMENT, INC.
                                              via its funds
8.                                            STATE STREET CORPORATION via its
9.                                            funds
                                              AVIVA PLC via its funds
10.                                           PRUDENTIAL FINANCIAL INC via its funds
11.                                           LORD ABBETT & CO via its funds
12.                                           AMERIPRISE FINANCIAL INC. via its funds
13.                                           LEGG MASON INC via its funds
14.                                           FMR LLC via its funds
15.                                           NORTHERN TRUST CORPORATION via its
                                              funds
16.                                           BPCE SA via its funds
17.                                           TEACHERS INSURANCE & ANNUITY
                                              ASSOCIATION OF AMERICA via its funds
18.                                           OPUS CAPITAL MANAGEMENT LLC via its
                                              funds
19.                                           STATE OF NEW YORK via its funds
20.                                           S.A.C. CAPITAL ADVISORS, L.P. via its
21.                                           funds
                                              EATON VANCE CORP via its funds
22.   BANK OF NEW YORK MELLON
      CORPORATION via its funds
23.   LIBRA ADVISORS LLC via its funds
24.   IRONBRIDGE CAPITAL MANAGEMENT LLC
      via its funds
25.   PRINCIPAL FINANCIAL GROUP INC via its
      funds
26.   ALLEN HOLDING INC. via its funds
27.   GOLDMAN SACHS GROUP, INC via its
28.   funds
      IRISH LIFE & PERMANENT GROUP
      HOLDINGS PUBLIC LIMITED COMPANY via
      its funds
29.   STATE OF NEW JERSEY via its funds
30.   POWER CORPORATION OF CANADA via
      its funds
31.   AXA via its funds
32.   AMERICAN CENTURY COMPANIES, INC.
      via its funds
33.   DEUTSCHE BANK AG via its funds
34.   PARADIGM CAPITAL MANAGEMENT, INC
      via its funds
35.   THE BUCKINGHAM RESEARCH GROUP via
      its funds
36.   GUGGENHEIM CAPITAL, LLC via its funds
37.   MACQUARIE GROUP LTD via its funds
38.   AQR CAPITAL MANAGEMENT LLC via its
      funds
39.   GEODE CAPITAL MANAGEMENT, LLC via
      its funds
40.   FEDERATED INVESTORS INC via its funds
41.   NEW YORK LIFE INSURANCE COMPANY
      via its funds
42.   STATE OF CALIFORNIA via its funds
43.   MASSACHUSETTS MUTUAL LIFE
      INSURANCE COMPANY via its funds
44.   WESTERN & SOUTHERN FINANCIAL
      GROUP, INC. via its funds
45.   T. ROWE PRICE GROUP, INC via its funds
46.   BANK OF IRELAND via its funds
47.   STATE OF WISCONSIN via its funds
48.   GOVERNMENT OF NORWAY via its funds
49.   BECKER CAPITAL MANAGEMENT INC via
      its funds
50.   WELLS FARGO & COMPANY via its funds
51.   DIMENSIONAL FUND ADVISORS LP via its
      funds
52.   GROUPE ROTHSCHILD via its funds
53.   RIVERPOINT CAPITAL MANAGEMENT, INC
      via its funds
54.   STATE OF KENTUCKY via its funds
55.   OHIO, STATE OF via its funds
56.   LAZARD LIMITED via its funds
57.   UBS AG via its funds
58.   BANK OF MONTREAL - BANQUE DE
      MONTREAL via its funds
59.   LVM CAPITAL MANAGEMENT LTD via its
      funds
60.   SKYLINE ASSET MANAGEMENT LP via its
      funds
61.   DREMAN VALUE MANAGEMENT LLC via
      its funds
62.   KBC GROEP NV/ KBC GROUPE SA - KBC
      GROUP via its funds
63.   CHARLES SCHWAB CORPORATION via its
      funds
64.   CREDIT SUISSE GROUP AG via its funds
65.   GOLDEN CAPITAL MANAGEMENT LLC via
      its funds
66.   STATE OF FLORIDA via its funds
67.   STATE OF ONTARIO via its funds
68.   WEINTRAUB CAPITAL MANAGEMENT LLC
      via its funds
69.   RHUMBLINE ADVISERS LIMITED
      PARTNERSHIP via its funds
70.   TORONTO DOMINION BANK via its funds
71.   WINSLOW ASSET MANAGEMENT INC via
      its funds
72.   SMITH BREEDEN ASSOCIATES, INC. via its
      funds
73.   ING GROEP NV via its funds
74.   NORTHWESTERN MUTUAL LIFE
      INSURANCE COMPANY (THE) via its funds
75.   BANK OF AMERICA CORPORATION via its
      funds
76.   BRANT POINT INVESTMENT
      MANAGEMENT LLC via its funds
77.   HSBC HOLDINGS PLC via its funds
78.   OLD MUTUAL PLC via its funds
79.   RAYMOND JAMES FINANCIAL INC via its
      funds
80.   RENAISSANCE TECHNOLOGIES LLC via
      its funds
81.   STEVENS FIRST PRINCIPLES
      INVESTMENT ADVISORS via its funds
82.   BRIDGEWATER ASSOCIATES L.P. via its
      funds
83.   INVESCO LTD. via its funds
84.   JP MORGAN CHASE & CO. via its funds
85.   STATE OF ILLINOIS via its funds
86.   GLOBAL CAPITAL MANAGEMENT INC via
      its funds
87.   M&I LLC via its funds
88.   MILLENNIUM MANAGEMENT, LLC via its
      funds
89.   HAHN CAPITAL MANAGEMENT via its
90.   funds
      MANULIFE FINANCIAL CORP via its funds
91.                                          RIAZZI ASSET MANAGEMENT LLC via its
                                             funds
92.                                          BNP PARIBAS via its funds
93.                                          STATE OF TEXAS via its funds


* For an insurance company the corresponding value is the Gross Premium Written and for a bank it is the Operating Income (memo).




                                             Unknown variable FULLSTRING


                                             M&A news in which the subject company is the target of the deal




                                             1.



SUMMARY SHAREHOLDING INFORMATION BY MAIN CATEGORIES


There is no summary table because no direct shareholder has been identified.



BOARD MEMBERS & MANAGERS



Name

STEVEN S FISHMAN

JOE R COOPER
LISA M BACHMANN

CHARLES W HAUBIEL

JOHN C MARTIN
DOUGLAS N WURL
ROBERT C CLAXTON
CHRISTOPHER T CHAPIN
NORMAN J RANKIN
ROBERT S SEGAL
STEVEN R SMART
HAROLD A WILSON

PAUL A SCHROEDER
TIMOTHY A JOHNSON

JEFFREY P BERGER
PETER J HAYES
DAVID T KOLLAT
BRENDA J LAUDERBACK
PHILIP E MALLOTT
RUSSELL SOLT
JAMES R TENER
DENNIS B TISHKOFF




Additional details


STEVEN S FISHMAN (59 years)
CHAIRMAN OF THE BOARD, PRESIDENT, CHIEF EXECUTIVE OFFICER (since 7/11/2005)


Mr. Steven S. Fishman is Chairman of the Board, President, Chief Executive Officer of Big Lots Inc., since 2005. Before joining in July 2005,
bankruptcy on September 8, 2004); and the President and Founder of SSF Resources, Inc. (investment and consulting). Mr. Fishman's leade




Compensation (1/29/2011)




Source : DEF 14A (4/12/2011)


JOE R COOPER (53 years)
CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT (since 3/12/2010)


Mr. Joe R. Cooper is Chief Financial Officer, Executive Vice President of Big Lots Inc. He is responsible for treasury, tax, investor relations, lo
Vice President and Chief Financial Officer in February 2004. Mr. Cooper joined the Company as Vice President of Strategic Planning and Inv




Education :                                      Stetson University BBA
                                                 Stetson University MBA




Compensation (1/29/2011)
Source : DEF 14A (4/12/2011)


LISA M BACHMANN (49 years)
EXECUTIVE VICE PRESIDENT - SUPPLY CHAIN MANAGEMENT, CHIEF INFORMATION OFFICER (since 3/12/2010)


Ms. Lisa M. Bachmann is Executive Vice President - Supply Chain Management, Chief Information Officer of Big Lots Inc. She is responsible
for information technology in August 2005. Ms. Bachman joined the Company as Senior Vice President of Merchandise Planning, Allocation




Education :                                    Western New England College B Accounting
                                               Western New England College MBA




Compensation (1/29/2011)




Source : DEF 14A (4/12/2011)


CHARLES W HAUBIEL (45 years)
EXECUTIVE VICE PRESIDENT - LEGAL AND REAL ESTATE, GENERAL COUNSEL, CORPORATE SECRETARY (since 3/12/2010)


Mr. Charles W. Haubiel, II, is Executive Vice President - Legal and Real Estate, General Counsel, Corporate Secretary of Big Lots Inc. He is
Haubiel joined the Company in 1997 as Senior Staff Counsel and was promoted to Director, Corporate Counsel and Assistant Secretary in 1



Education :                                    Purdue University B
                                               Ohio State University JD




Compensation (1/29/2011)
Source : DEF 14A (4/12/2011)


JOHN C MARTIN (60 years)
EXECUTIVE VICE PRESIDENT - ADMINISTRATION (since 4/18/2011)


Mr. John Charles Martin is Executive Vice President - Administration of Big Lots Inc. He served as Executive Vice President - Merchandising
retailer, and President, Retail Stores Division of OfficeMax Incorporated, an office supply retailer.



Compensation (1/29/2011)




Source : DEF 14A (4/12/2011)


DOUGLAS N WURL (49 years)
EXECUTIVE VICE PRESIDENT - MERCHANDISING (since 4/18/2011)


Mr. Douglas N. Wurl has been appointed as the Executive Vice President, Merchandising of Big Lots Inc. With his hiring, Mr. Wurl is respons
Operating Co., LLC, a retailer, as its Senior Vice President, General Merchandise Manager. He is a graduate of Buffalo State College.



Education :                                    State University of New York at Buffalo




Source : NA


ROBERT C CLAXTON (56 years)
SENIOR VICE PRESIDENT - MARKETING (since 2005)


Mr. Robert C. Claxton is Senior Vice President - Marketing of Big Lots Inc. He is responsible for marketing, merchandise presentation, and s



Source : NA
CHRISTOPHER T CHAPIN (47 years)
SENIOR VICE PRESIDENT - STORE OPERATIONS (since 5/27/2008)


Mr. Christopher T. Chapin is Senior Vice President - Store Operations of Big Lots Inc. He is responsible for merchandising. Prior to joining th
Division of OfficeMax Incorporated, an office supply retailer.



Education :                                     University of Wisconsin, Stout B Manufacturing Engineering




Source : NA


NORMAN J RANKIN (54 years)
SENIOR VICE PRESIDENT - BIG LOTS CAPITAL AND WHOLESALE (since 1/9/2008)


Mr. Norman J. Rankin is Senior Vice President - Big Lots Capital and Wholesale of Big Lots Inc. He is responsible for alternative product sou
merger with Mac Frugal's Bargains Close-outs, Inc., a discount retailer. In 1999, Mr. Rankin was promoted to Senior Vice President.



Source : NA


ROBERT S SEGAL (56 years)
SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER (since 1/7/2008)


Mr. Robert Samuel Segal is Senior Vice President, General Merchandise Manager of Big Lots Inc. He is responsible for merchandising in the
seasonal category in March 2010. Prior to joining the Company, Mr. Segal served as Divisional Vice President, Housewares and Home of Sh



Source : NA


STEVEN R SMART (51 years)
SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER (since 3/12/2010)


Mr. Steven Ray Smart is Senior Vice President, General Merchandise Manager of Big Lots Inc. is responsible for merchandising in the consu
Company, Mr. Smart served as Senior Vice President, Retail of Fleming, a wholesaler, which filed for bankruptcy in 2003.



Source : NA


HAROLD A WILSON (62 years)
SENIOR VICE PRESIDENT - DISTRIBUTION AND TRANSPORTATION SERVICES


Mr. Harold A. Wilson is Senior Vice President - Distribution and Transportation Services of Big Lots Inc. He is responsible for warehousing, d
Source : NA


PAUL A SCHROEDER (45 years)
VICE PRESIDENT, CONTROLLER (since 9/2005)


Mr. Paul A. Schroeder is Vice President, Controller of Big Lots Inc. He is responsible for internal and external financial reporting and account
American Signature, Inc., a furniture retailer, and held finance positions with Limited Brands, Inc., a retailer.



Source : NA


TIMOTHY A JOHNSON (43 years)
VICE PRESIDENT - STRATEGIC PLANNING AND INVESTOR RELATIONS (since 2/2004)


Mr. Timothy A. Johnson is Vice President - Strategic Planning and Investor Relations of Big Lots Inc. He is responsible for strategic planning



Source : NA


JEFFREY P BERGER (61 years)
INDEPENDENT DIRECTOR (since 8/15/2006)


Mr. Jeffrey P. Berger is Independent Director of Big Lots Inc., since 2006. He is the former Executive Vice President, Global Foodservice, an
qualification as an ôaudit committee financial,ö as defined by applicable SEC rules.



Education :                                     California University of Pennsylvania B Educational Administration
                                                California University of Pennsylvania M Educational Administration




Source : NA


PETER J HAYES (68 years)
INDEPENDENT DIRECTOR (since 12/5/2008)


Mr. Peter J. Hayes is Independent Director of Big Lots Inc., since 2008. Mr. Hayes is the former Chief Operating Officer of Variety Wholesale
discount retail, his leadership experience at corporations and his qualification as an ôaudit committee financial,ö as defined by applicable SE



Source : NA


DAVID T KOLLAT (72 years)
INDEPENDENT DIRECTOR (since 1990)
Dr. David T. Kollat is Independent Director of Big Lots Inc., since 1990. He is the President and Founder of 22, Inc. (research and manageme
committee), and Wolverine World Wide, Inc. (where he is the lead director and a member of the compensation committee). Dr. Kollat's expe




Source : NA


BRENDA J LAUDERBACK (60 years)
INDEPENDENT DIRECTOR (since 1997)


Ms. Brenda J. Lauderback is Independent Director of Big Lots Inc., since 1997. She is the former President û Wholesale Group of Nine Wes
Lauderback is also currently a director of Denny's Corporation (where she is the chair of the corporate governance and nominating committe
committee). Ms. Lauderback previously served as a director of Irwin Financial Corporation. Ms. Lauderback's service on the boards of other




Education :                                      Robert Morris University BS (1972)




Source : NA


PHILIP E MALLOTT (53 years)
INDEPENDENT DIRECTOR (since 5/22/2003)


Mr. Philip E. Mallott is Independent Director of Big Lots Inc., since 2003. He is an independent financial consultant and retail stock analyst. M
on the boards of other public companies and charitable organizations, and his experience in leadership roles with other retailers led to the co



Source : NA


RUSSELL SOLT (63 years)
INDEPENDENT DIRECTOR (since 5/22/2003)


Mr. Russell Solt is Independent Director of Big Lots Inc., since 2003. He is the former Director of Investor Relations of West Marine, Inc. (spe
experience as a certified public accountant and as the Chief Financial Officer of other publicly-traded retailers, his background in investor rel



Education :                                      California State University, Northridge BS Business Administration




Source : NA


JAMES R TENER (61 years)
INDEPENDENT DIRECTOR (since 1/30/2005)
Mr. James R. Tener is Independent Director of Big Lots Inc., since 2005. He is the former President and Chief Operating Officer of Brook Ma
service on the board of a privately-held company make him a solid choice to continue serving on the Board.



Source : NA


DENNIS B TISHKOFF (67 years)
INDEPENDENT DIRECTOR (since 1991)


Mr. Dennis B. Tishkoff is Independent Director of Big Lots Inc., since 1991. He is the Chairman and Chief Executive Officer of Drew Shoe Co
in senior management roles of other retailers and wholesalers, his experience with importing merchandise and his leadership skills led to the



Source : NA




AUDITORS & ADVISORS



Auditor :
                                               DELOITTE & TOUCHE LLP


Transfer Agent :
                                               National City Bank



CORPORATE ACTIONS AND DIVIDENDS


Corporate actions




1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.


MERGERS AND ACQUISITIONS




No

1.

2.

3.

4.



Source:Zephyr.
ational broadline
sonal and toys as
n 1967 and has
n 2001,
rious products
od, health and
ecor items; and


ntenance, small
n Columbus,
rnia; and Durant,
47 states. Big
both existing
ots Stores, Inc.
sumable




                        Cons        Cons
                    1/30/2010   1/31/2009
                    12 months   12 months
                      Unqual      Unqual
                       th USD      th USD
                         10-K        10-K
                    US GAAP     US GAAP


                    1,122,966     870,871
                      731,337     736,616
                         n.a.        n.a.
                         n.a.        n.a.
                         n.a.        n.a.
                         n.a.        n.a.

                         n.a.        n.a.
   n.a.      n.a.
   n.a.      n.a.
391,629   134,255
 56,884    54,207
   n.a.      n.a.
   n.a.      n.a.
 56,884    54,207
 51,012    45,275
   n.a.      n.a.
   n.a.      n.a.
 51,012    45,275
   n.a.      n.a.
283,733    34,773
283,733    34,773
283,733    34,773
   n.a.      n.a.
   n.a.      n.a.
283,733    34,773
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.


546,527   561,587
491,256   490,041
 44,818    44,952
 44,818    44,952
   n.a.      n.a.
   n.a.      n.a.
698,988   675,787
698,988   675,787
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
732,744   711,350
 68,175    67,166
   n.a.      n.a.
 29,192    22,567
635,377   621,617
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
   28,563       20,860
   28,563       20,860
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
-1,013,857    -962,908
-1,013,857    -962,908
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
   55,271       71,546
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
   55,271       71,546
      n.a.        n.a.
   28,136       53,763
      n.a.        n.a.
        0            0
   27,135       17,783


1,669,493    1,432,458




    Cons         Cons
1/30/2010    1/31/2009
12 months    12 months
  Unqual       Unqual
   th USD       th USD
     10-K         10-K
US GAAP      US GAAP


1,505,113    1,452,949
      n.a.        n.a.
-1,013,857    -962,908
-1,013,857    -962,908
  491,256      490,041
      n.a.        n.a.
      n.a.        n.a.




  107,896       99,482
      n.a.        n.a.




    Cons         Cons
1/30/2010    1/31/2009
12 months    12 months
  Unqual       Unqual
   th USD       th USD
     10-K         10-K
US GAAP      US GAAP


  542,520      515,095
        0       61,700
        0       61,700
      n.a.        n.a.
      n.a.        n.a.

        0       61,700

  309,862      235,973
  309,862      235,973
  232,658      217,422
        0           0
      n.a.        n.a.
      n.a.        n.a.
   18,993       21,398
   18,993       21,398
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
  213,665      196,024
      n.a.        n.a.
      n.a.        n.a.
     n.a.      n.a.
  47,402     40,460
  69,388     66,525
  52,519     45,693
     n.a.      n.a.
  39,570     38,303
   4,786      5,043
     n.a.      n.a.


 125,561    142,518
       0         0
     n.a.        0
     n.a.        0
     n.a.      n.a.
     n.a.      n.a.
     n.a.      n.a.
 125,561    142,518
     n.a.      n.a.
     n.a.      n.a.
     n.a.      n.a.
  44,695     45,197
  44,695     45,197
     n.a.      n.a.
  80,866     97,321
  31,490     29,192
  20,799     39,277
  28,577     28,852
     n.a.      n.a.
     n.a.      n.a.


 668,081    657,613


1,001,412   774,845
   1,175      1,175
   1,175      1,175
   1,175      1,175
     n.a.      n.a.
     n.a.      n.a.
     n.a.      n.a.
     n.a.      n.a.
1,000,237   773,670
  515,061     504,552
     n.a.        n.a.
  515,061     504,552
 -791,042    -804,561
 -791,042    -804,561
     n.a.        n.a.
     n.a.        n.a.
1,289,353   1,088,984
1,289,353   1,088,984
  -13,135     -15,305
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
  -13,135     -15,305



1,669,493   1,432,458


   35,600      37,000
   13,100      13,600
   22,500      23,400




    Cons        Cons
1/30/2010   1/31/2009
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


       0       61,700
       0           0
       0       61,700
1,001,412     774,845
 -283,733      26,927
2,861,339   1,515,882




     n.a.        n.a.
   39,570      38,303
   4,786      5,043
     n.a.      n.a.
       0     61,700
 125,561    142,518
 668,081    657,613
  81,922     81,315
  81,922     81,315
  35,573     36,180
     996      1,100
 391,629    134,255
     0.72      0.26
     2.07      1.69
 -283,733    26,927
1,001,412   774,845
   12.22       9.53
       0     61,700
       0     61,700

       0         0
       0         0
       0         0
       0         0
       0         0

       0         0


    -223       -392
   3,484      6,389
   2,352      2,929

     984      2,501

     236       991

     135       225

       0       135

   1,220      3,492


     135       360


    -223       -392


 687,604    671,900
 195,739    192,424

 163,908    156,412
  128,004      122,568

   96,643       88,120

   57,861       60,903

  291,912      278,980


  154,504      149,023


   45,449       51,473




    Cons         Cons
1/30/2010    1/31/2009
12 months    12 months
  Unqual       Unqual
   th USD       th USD
     10-K         10-K
US GAAP      US GAAP


4,726,772    4,645,283
4,726,772    4,645,283
4,726,772    4,645,283
      n.a.         n.a.
4,726,772    4,645,283
      n.a.         n.a.
-2,807,466   -2,787,854
-2,807,466   -2,787,854
      n.a.         n.a.
-2,807,466   -2,787,854
  -74,904      -78,624
      n.a.         n.a.
-1,519,392   -1,523,882
-1,532,356   -1,523,882
      n.a.         n.a.
        0            0
        0            0
   12,964            0
        0            0
  399,914      333,547


  -74,904      -78,624
  -74,904     -78,624
  -74,904     -78,624
     n.a.        n.a.
     n.a.        n.a.
  325,010     254,923
     n.a.        n.a.
  325,010     254,923
     175          65
     n.a.        n.a.
     n.a.        n.a.
     175          65
   -1,840      -5,282
   -1,840      -5,282
   -1,665      -5,217
     n.a.        n.a.
  323,345     249,706
 -121,975     -94,908
 -121,975     -94,908
  201,370     154,798
     n.a.        n.a.
     n.a.        n.a.
   -1,001      -3,251
     n.a.        n.a.
     n.a.        n.a.
   -1,001      -3,251
     n.a.        n.a.
     n.a.        n.a.
  200,369     151,547


       0           0
       0           0
     n.a.        n.a.




    Cons        Cons
1/30/2010   1/31/2009
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP
      n.a.         n.a.


      n.a.         n.a.
      n.a.         n.a.
      n.a.         n.a.
      n.a.         n.a.




1,919,306    1,857,429
      n.a.         n.a.
-4,401,762   -4,390,360
    -1,840       -5,282
      175           65

  201,370      154,798
  200,369      151,547
  201,370      154,798
       82           81
     2.47         1.91

     2.45         1.87

      n.a.         n.a.
  200,369      151,547
       83           82
     2.44         1.89
     2.42         1.85
     0.00         0.00
        0            0
      n.a.         n.a.

      n.a.         n.a.

      n.a.         n.a.

      n.a.         n.a.

    -1,840       -5,282
      n.a.         n.a.
  -74,904      -78,624
  -12,864          100
  310,481      249,806
    -4,853          38

  117,122       94,946
  193,359     154,860
  193,359     154,860
     2.37        1.91
     2.34        1.89
 -254,367    -237,356
   96,200     102,300
    40.61       39.98
     6.88        5.49
     6.84        5.38
    37.72       38.01
     4.26        3.33
  312,146     255,023
  387,050     333,647
   91,083      71,619
     n.a.        n.a.
   11,890       9,771
  102,973      81,390
   15,176      10,189
    3,826       3,329
   19,002      13,518
     n.a.        n.a.
  121,975      94,908
     n.a.        n.a.
     n.a.        n.a.
   20,275      15,456
    1,198       1,354
      16           0
      27          28
       2           2




    Cons        Cons
1/30/2010   1/31/2009
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP
200,369   151,547
 71,501    73,787
   n.a.      n.a.
 71,501    73,787
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
 18,014    13,518
   n.a.      n.a.
   409      3,119
   n.a.      n.a.
-11,534     1,763
   n.a.      n.a.
   n.a.      n.a.
 15,082     6,722
  3,957    11,604
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
  5,279    11,326
   n.a.      n.a.
 -7,462      337
 73,889   -24,299
   n.a.      n.a.
   n.a.      n.a.
 -4,359   -12,362
 30,838   -14,395
   n.a.      n.a.
   n.a.      n.a.
 98,185   -39,393


392,026   211,063




-78,708   -88,735
   n.a.      n.a.
   n.a.      n.a.
-78,708   -88,735
   n.a.      n.a.
    n.a.         n.a.
    861          550
      0            0
    n.a.         n.a.
      0            0
    n.a.         n.a.
    n.a.         n.a.
     -90           -7
    771          543


 -77,937     -88,192




  1,568        4,590
  1,568        4,590
    n.a.         n.a.
    n.a.         n.a.
    n.a.         n.a.
    112          352
  -1,849     -37,508
  -1,737     -37,156
    n.a.         n.a.
    n.a.         n.a.
    n.a.         n.a.
    n.a.         n.a.
    n.a.         n.a.

  4,931       10,860
    n.a.         n.a.
    n.a.         n.a.
  3,194      -26,296
    n.a.         n.a.
    n.a.         n.a.
    n.a.         n.a.
280,000    2,918,600
-349,891   -3,022,123
 -69,891    -103,523
    n.a.         n.a.
    n.a.         n.a.
 -69,891    -103,523
  -65,129    -125,229




     n.a.        n.a.


  248,960      -2,358
   34,773      37,131
  283,733      34,773




   71,501      73,787
     277        5,568
  105,267      89,109
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.




    Cons        Cons
1/30/2010   1/31/2009
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


    32.29       32.23
     6.84        5.38
    19.37       17.43
     2.07        1.69
    59.98       54.09
    15.70        9.83
2010    2009


28.41   13.45
33.50   15.51
36.42   20.78
38.20   27.64
35.33   23.01
32.09   21.03
34.31   23.04
31.26   25.42
33.25   25.02
31.37   25.05
30.65   23.06
30.46   28.98
RAGE




ITE
   6/3/2011
110,703,000
  3,601,168


  1/29/2011
       2.01
       2.72
       0.00
       8.55




  1/29/2011   1/30/201
      USD         US




       1.00        1.0
      31.79      28.4
      41.14      31.1
      27.82      12.6




   110,703     110,70
       0.01        0.0
      3,519      3,14
 960.00    996.0




    2.01     1.8




    2.72     2.4
    0.97     0.7
  44.74     42.7
    3.23     2.9
    0.00     0.0
    8.55     9.0
    n.a.     n.
    1.18     1.1
    n.a.     n.




6/3/2011
  16.18
  22.11
  15.05




    6.18
    6.65
    4.52




  11.96
    0.00
    0.00
    3.80
1/29/2011   1/30/201




   15.82        15.7
   20.47        17.2
   13.84         6.9
   17.15        12.1




     6.32        6.3
     7.23       14.3
     4.89        5.8
     5.83        8.2




   11.69        11.4




     0.00        0.0
     0.00        0.0
     0.00        0.0
     0.00        0.0




     0.00        0.0




     3.72        3.1
     4.81        3.4
     3.25        1.4
     4.03        2.4




     3.72        3.1
2010    2009


31.17   15.38
33.50   15.51
37.91   22.12
41.14   27.64
38.30   28.35
35.25   24.23
36.16   23.11
35.07   26.37
34.44   25.93
33.90   27.78
31.41   25.86
31.09   29.53




28.39   12.93
28.51   12.62
33.71   13.83
36.40   20.10
34.00   22.03
31.27   19.87
31.72   19.49
30.02   22.47
31.49   23.30
31.00   24.71
28.84   23.04
27.82   23.19




28.41   13.45
33.50   15.51
36.42   20.78
38.20   27.64
35.33   23.01
32.09   21.03
34.31   23.04
31.26   25.42
33.25   25.02
31.37   25.05
30.65   23.06
     30.46        28.98




31,350,200   45,377,028
22,147,060   55,089,812
33,731,236   87,044,048
34,199,960   54,435,608
39,008,096   50,788,596
50,207,252   58,230,512
27,050,588   40,811,760
39,630,804   46,993,256
22,713,656   30,023,298
32,176,350   34,633,392
45,993,200   29,641,616
39,216,464   51,298,816




 1,650,011    2,268,851
 1,165,635    2,899,464
 1,466,575    3,956,548
 1,628,570    2,592,172
 1,950,405    2,539,430
 2,282,148    2,646,841
 1,288,123    1,855,080
 1,801,400    2,237,774
 1,081,603    1,429,681
 1,532,207    1,574,245
 2,190,152    1,482,081
 1,782,567    2,331,764




       19           20
       19           19
       23           22
       21           21
       20           20
       22           22
       21           22
       22           21
       21           21
       21           22
      21          20
      22          22




 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703




3,145,072   1,488,955
3,708,551   1,717,004
4,031,803   2,300,408
4,228,855   3,059,831
3,911,137   2,547,276
3,552,459   2,328,084
3,798,220   2,550,597
3,460,576   2,814,070
3,680,875   2,769,789
3,472,753   2,773,110
3,393,047   2,552,811
3,372,013   3,208,173




5/27/2011   5/20/2011


   33.88       38.51
   30.83       33.30
   32.42       33.55
            35.98        35.94


       18,218,708   23,751,544
        3,643,742    4,750,309
                5            5


         110,703      110,703


        3,588,991    3,714,086




        5/27/2011    5/20/2011


RAGE
            0.51         0.65
            0.11         0.49
            0.76         0.78
            0.22         0.28
            0.03         0.14
            0.33         0.35




            0.43         0.57
            0.01         0.45
            0.59         0.63
            0.21         0.28
            0.00         0.15
            0.31         0.34


ITE
             n.a.         n.a.
             n.a.         n.a.
             n.a.         n.a.
             n.a.         n.a.
             n.a.         n.a.
             n.a.         n.a.




        5/27/2011    5/20/2011
         0.32            0.32
         0.38            0.37
         0.31            0.30
         0.39            0.36
         0.59            0.54




5/2011          4/2011
                43.68
41.29
41.19
40.61           43.80
39.36           44.04
39.31           43.65
                43.75
                43.73
39.35
39.45
38.75           43.45
38.39           43.24
38.53           43.54
                43.68
                43.53
38.02
37.86
37.74           42.74
33.77           42.00
33.55           42.08




33.70
33.09
32.33           40.93
31.44           40.79
32.42           40.75
                40.77
                41.11
33.41




        1/31/2012   1/31/2013




              16          16


               0           1
              15          13
               0           0
               1           2


               0           1
              15          13
               0           0
               1           2


             0.00        6.25
           93.75       81.25
             0.00        0.00
             6.25      12.50


             0.00        6.25
           93.75       81.25
             0.00        0.00
             6.25      12.50




             2.91        3.30
            -0.45       -0.53
            -7.48       -4.97


             2.87        3.26
             0.00        0.00
            -8.73       -6.33


             3.09        3.76
                                                      2.82        3.05


                                                      0.08        0.18
                                                      2.95        5.47




                                                    11.31         9.99




                                                 4/30/2011   7/31/2011
                                                       Q1          Q2




                                                        1          16




                                                      0.70        0.45


                                                      0.70        0.44
                                                      0.00       -1.14
                                                     -9.09      -19.44


                                                      0.70        0.53
                                                      0.70        0.40
                                                    11.62       18.70
                                                      0.00        0.04
                                                      0.00        8.18




or actively validated within the last 75 days.




                                                 1/31/2013   1/31/2014
  1    0




0.00   -
0.00   -


0.00   -
0.00   -
0.00   -
n.a.   -
n.a.   -


n.a.   -
n.a.   -
n.a.   -




  0    0




   -   -
   -   -


   -   -
   -   -
   -   -
   -   -
   -   -


   -   -
   -   -
   -   -




  0    0
    -       -
    -       -


    -       -
    -       -
    -       -
    -       -


    -       -
    -       -
    -       -




  14       2




 241     265
 243     265


 256     271
 224     258
 9.05    9.26
 3.75    3.50


-6.65   -4.84
-6.65   -3.29
-3.04   -6.70




  16       2




5,384   5,710
5,388   5,710
5,481   5,730
5,297   5,691
47.51   27.93
 0.88    0.49


-1.94   -2.09
-1.94   -0.49
-0.69   -2.34




  13       2




 393     424
 395     424


 416     436
 375     411
13.54   17.82
 3.45    4.21


-6.35   -3.95
-6.35   -1.36
-2.70   -5.44




  11       1




 505     510
 487     510


 695     510
 468     510
64.92    0.00
12.86    0.00
-7.29    -5.90
-7.29    -5.90
-7.59   -11.15
              Title

              CHAIRMAN OF THE BOARD, PRESIDENT, CHIEF EXECUTIVE OFFICER

              CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT
              EXECUTIVE VICE PRESIDENT - SUPPLY CHAIN MANAGEMENT, CHIEF INFORMATION
              OFFICER
              EXECUTIVE VICE PRESIDENT - LEGAL AND REAL ESTATE, GENERAL COUNSEL,
              CORPORATE SECRETARY
              EXECUTIVE VICE PRESIDENT - ADMINISTRATION
              EXECUTIVE VICE PRESIDENT - MERCHANDISING
              SENIOR VICE PRESIDENT - MARKETING
              SENIOR VICE PRESIDENT - STORE OPERATIONS
              SENIOR VICE PRESIDENT - BIG LOTS CAPITAL AND WHOLESALE
              SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER
              SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER
              SENIOR VICE PRESIDENT - DISTRIBUTION AND TRANSPORTATION SERVICES

              VICE PRESIDENT, CONTROLLER
              VICE PRESIDENT - STRATEGIC PLANNING AND INVESTOR RELATIONS

              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR




 7/11/2005)


er of Big Lots Inc., since 2005. Before joining in July 2005, Mr. Fishman served as the President, Chief Executive Officer and Chief Restructuring Officer of
rces, Inc. (investment and consulting). Mr. Fishman's leadership skills, proven management capabilities, and more than 36 years of diverse retail experien
Inc. He is responsible for treasury, tax, investor relations, loss prevention and risk management, as well as the reporting, planning, and control functions o
e Company as Vice President of Strategic Planning and Investor Relations in May 2000. In July 2000, he assumed responsibility for the treasury departme




RMATION OFFICER (since 3/12/2010)


Chief Information Officer of Big Lots Inc. She is responsible for information technology, merchandise planning and allocation, and distribution and transpor
Senior Vice President of Merchandise Planning, Allocation and Presentation in March 2002. Prior to joining the Company, Ms. Bachmann was Senior Vice




 Accounting
BA
SEL, CORPORATE SECRETARY (since 3/12/2010)


eneral Counsel, Corporate Secretary of Big Lots Inc. He is responsible for legal affairs and real estate. Mr. Haubiel was promoted to Executive Vice Presid
o Director, Corporate Counsel and Assistant Secretary in 1999, and to Vice President, General Counsel and Corporate Secretary in 2000.




c. He served as Executive Vice President - Merchandising of the Company. Prior to joining the Company in 2003, Mr. Martin was President of Garden Rid
supply retailer.
 ndising of Big Lots Inc. With his hiring, Mr. Wurl is responsible for Merchandising, Global Sourcing, Big Lots Capital and Wholesale. Mr. Wurl, previously s
 Manager. He is a graduate of Buffalo State College.



uffalo




esponsible for marketing, merchandise presentation, and sales promotion. Prior to joining the Company's in 2005, Mr. Claxton served as General Manager




 Inc. He is responsible for merchandising. Prior to joining the Company in 2003, Mr. Martin was President of Garden Ridge Corporation, an arts and crafts r




 Manufacturing Engineering




 2008)


 f Big Lots Inc. He is responsible for alternative product sourcing and wholesale operations. He assumed his current role in January 2008, after serving as
Mr. Rankin was promoted to Senior Vice President.
008)


r of Big Lots Inc. He is responsible for merchandising in the furniture, home, and seasonal categories. Mr. Segal joined in 2004 as Vice President, Division
 as Divisional Vice President, Housewares and Home of Shopko, a discount retailer, from 1995 to 2004.




2010)


Big Lots Inc. is responsible for merchandising in the consumables and hardlines categories, as well as the Company's play & wear department within the
aler, which filed for bankruptcy in 2003.




ES


rvices of Big Lots Inc. He is responsible for warehousing, distributing, and transporting merchandise. Mr. Wilson joined the Company in 1995. Prior to joini




ble for internal and external financial reporting and accounting operations including payroll, accounts payable, and inventory control. Mr. Schroeder joined
ed Brands, Inc., a retailer.




e 2/2004)


ons of Big Lots Inc. He is responsible for strategic planning and investor relations. He was promoted to Vice President, Strategic Planning and Investor Rel
e former Executive Vice President, Global Foodservice, and President and Chief Executive Officer of Heinz North America Foodservice (manufacturer and
s.



nia B Educational Administration
nia M Educational Administration




  is the former Chief Operating Officer of Variety Wholesalers, Inc. (retailer). Mr. Hayes also previously served as the President and Chief Operating Officer
 n ôaudit committee financial,ö as defined by applicable SEC rules, make him well suited to continue serving on the Board.




President and Founder of 22, Inc. (research and management consulting). Dr. Kollat is also currently a director of Limited Brands, Inc. (where he is a mem
member of the compensation committee). Dr. Kollat's experience in retail and marketing, leadership skills, service on the boards of other public companies




he is the former President û Wholesale Group of Nine West Group, Inc. (retail and wholesale footwear). Ms. Lauderback also previously served as the Pres
hair of the corporate governance and nominating committee and a member of the compensation and incentives committee), Select Comfort Corporation (w
 poration. Ms. Lauderback's service on the boards of other public companies and experience in leadership roles with other retailers make her well-suited to




2)
ndependent financial consultant and retail stock analyst. Mr. Mallott previously served as the Vice President and Chief Financial Officer of Intimate Brands
erience in leadership roles with other retailers led to the conclusion that he would continue to be a member of the Board.




mer Director of Investor Relations of West Marine, Inc. (specialty retailer and catalog company) where he also previously served as the Executive Vice Pre
her publicly-traded retailers, his background in investor relations and his qualification as an ôaudit committee financial,ö makes him well-suited to continue



dge BS Business Administration




 former President and Chief Operating Officer of Brook Mays Music Company (retail and wholesale music that filed for bankruptcy on July 11, 2006). Mr. T
nue serving on the Board.




 he Chairman and Chief Executive Officer of Drew Shoe Corporation (footwear manufacturer, importer, exporter, retailer and wholesaler), and the Presiden
h importing merchandise and his leadership skills led to the conclusion that he will continue to be a member of the Board.
vD Databases.
            Country   Type




            US               F

            US               E
            US               E
            US               E
            US               F
            US               P
            US               E

            US               B
            GB               A
            US               B
            US               E
            US               A
            US               B
            US               F
            US               B

            FR               B
            US               A


            US               E

            US               S
            US               E
            US               F
US   B

US   E
US   E

US   A

US   E
US   B
IE   F


US   S
CA   A

FR   A
US   F

DE   B
US   E

US   F

US   E
AU   B
US   E

US   E

US   E
US   A

US   S
US   A


US   A

US   B
IE   B
US   S
NO   S
US   E

US   B
US   E

FR   C
US   E

US   S
US   S
BM   B
CH   B
CA   B

US   E

US   E

US   E

BE   B

US   B

CH   B
US   E

US   S
CA   S
US   E

US   E

CA   B
US   E

US   E

NL   B
US   A


US   B

US   E

GB   B
GB   A
US   B

US   F

US   E

US   E

BM   F
US   B
US   S
US   E

US   B
US   E

US   E
CA   A
            US                                                     E

            FR                                                     B
            US                                                     S


n and for a bank it is the Operating Income (memo).




company is the target of the deal




                                                      2/7/2011 :




            Title

            CHAIRMAN OF THE BOARD, PRESIDENT, CHIEF EXECUTIVE OFFICER

            CHIEF FINANCIAL OFFICER, EXECUTIVE VICE PRESIDENT
            EXECUTIVE VICE PRESIDENT - SUPPLY CHAIN MANAGEMENT, CHIEF INFORMATION
            OFFICER
            EXECUTIVE VICE PRESIDENT - LEGAL AND REAL ESTATE, GENERAL COUNSEL,
            CORPORATE SECRETARY
            EXECUTIVE VICE PRESIDENT - ADMINISTRATION
            EXECUTIVE VICE PRESIDENT - MERCHANDISING
            SENIOR VICE PRESIDENT - MARKETING
            SENIOR VICE PRESIDENT - STORE OPERATIONS
            SENIOR VICE PRESIDENT - BIG LOTS CAPITAL AND WHOLESALE
            SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER
            SENIOR VICE PRESIDENT, GENERAL MERCHANDISE MANAGER
            SENIOR VICE PRESIDENT - DISTRIBUTION AND TRANSPORTATION SERVICES

            VICE PRESIDENT, CONTROLLER
            VICE PRESIDENT - STRATEGIC PLANNING AND INVESTOR RELATIONS

            INDEPENDENT DIRECTOR
            INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR
              INDEPENDENT DIRECTOR




 7/11/2005)


er of Big Lots Inc., since 2005. Before joining in July 2005, Mr. Fishman served as the President, Chief Executive Officer and Chief Restructuring Officer of
rces, Inc. (investment and consulting). Mr. Fishman's leadership skills, proven management capabilities, and more than 36 years of diverse retail experien




Inc. He is responsible for treasury, tax, investor relations, loss prevention and risk management, as well as the reporting, planning, and control functions o
e Company as Vice President of Strategic Planning and Investor Relations in May 2000. In July 2000, he assumed responsibility for the treasury departme
RMATION OFFICER (since 3/12/2010)


Chief Information Officer of Big Lots Inc. She is responsible for information technology, merchandise planning and allocation, and distribution and transpor
Senior Vice President of Merchandise Planning, Allocation and Presentation in March 2002. Prior to joining the Company, Ms. Bachmann was Senior Vice




 Accounting
BA




SEL, CORPORATE SECRETARY (since 3/12/2010)


eneral Counsel, Corporate Secretary of Big Lots Inc. He is responsible for legal affairs and real estate. Mr. Haubiel was promoted to Executive Vice Presid
o Director, Corporate Counsel and Assistant Secretary in 1999, and to Vice President, General Counsel and Corporate Secretary in 2000.
c. He served as Executive Vice President - Merchandising of the Company. Prior to joining the Company in 2003, Mr. Martin was President of Garden Rid
supply retailer.




 ndising of Big Lots Inc. With his hiring, Mr. Wurl is responsible for Merchandising, Global Sourcing, Big Lots Capital and Wholesale. Mr. Wurl, previously s
 Manager. He is a graduate of Buffalo State College.



uffalo




esponsible for marketing, merchandise presentation, and sales promotion. Prior to joining the Company's in 2005, Mr. Claxton served as General Manager
 Inc. He is responsible for merchandising. Prior to joining the Company in 2003, Mr. Martin was President of Garden Ridge Corporation, an arts and crafts r




 Manufacturing Engineering




 2008)


 f Big Lots Inc. He is responsible for alternative product sourcing and wholesale operations. He assumed his current role in January 2008, after serving as
Mr. Rankin was promoted to Senior Vice President.




 008)


 r of Big Lots Inc. He is responsible for merchandising in the furniture, home, and seasonal categories. Mr. Segal joined in 2004 as Vice President, Division
  as Divisional Vice President, Housewares and Home of Shopko, a discount retailer, from 1995 to 2004.




 2010)


 Big Lots Inc. is responsible for merchandising in the consumables and hardlines categories, as well as the Company's play & wear department within the
 aler, which filed for bankruptcy in 2003.




 ES


 rvices of Big Lots Inc. He is responsible for warehousing, distributing, and transporting merchandise. Mr. Wilson joined the Company in 1995. Prior to joini
ble for internal and external financial reporting and accounting operations including payroll, accounts payable, and inventory control. Mr. Schroeder joined
ed Brands, Inc., a retailer.




e 2/2004)


ons of Big Lots Inc. He is responsible for strategic planning and investor relations. He was promoted to Vice President, Strategic Planning and Investor Rel




e former Executive Vice President, Global Foodservice, and President and Chief Executive Officer of Heinz North America Foodservice (manufacturer and
s.



nia B Educational Administration
nia M Educational Administration




 is the former Chief Operating Officer of Variety Wholesalers, Inc. (retailer). Mr. Hayes also previously served as the President and Chief Operating Officer
n ôaudit committee financial,ö as defined by applicable SEC rules, make him well suited to continue serving on the Board.
President and Founder of 22, Inc. (research and management consulting). Dr. Kollat is also currently a director of Limited Brands, Inc. (where he is a mem
member of the compensation committee). Dr. Kollat's experience in retail and marketing, leadership skills, service on the boards of other public companies




he is the former President û Wholesale Group of Nine West Group, Inc. (retail and wholesale footwear). Ms. Lauderback also previously served as the Pres
hair of the corporate governance and nominating committee and a member of the compensation and incentives committee), Select Comfort Corporation (w
 poration. Ms. Lauderback's service on the boards of other public companies and experience in leadership roles with other retailers make her well-suited to




2)




ndependent financial consultant and retail stock analyst. Mr. Mallott previously served as the Vice President and Chief Financial Officer of Intimate Brands
erience in leadership roles with other retailers led to the conclusion that he would continue to be a member of the Board.




mer Director of Investor Relations of West Marine, Inc. (specialty retailer and catalog company) where he also previously served as the Executive Vice Pre
her publicly-traded retailers, his background in investor relations and his qualification as an ôaudit committee financial,ö makes him well-suited to continue



dge BS Business Administration
 former President and Chief Operating Officer of Brook Mays Music Company (retail and wholesale music that filed for bankruptcy on July 11, 2006). Mr. T
nue serving on the Board.




 he Chairman and Chief Executive Officer of Drew Shoe Corporation (footwear manufacturer, importer, exporter, retailer and wholesaler), and the Presiden
h importing merchandise and his leadership skills led to the conclusion that he will continue to be a member of the Board.




              Event


              Company meeting
              Company meeting
              Company meeting
              Company meeting
              New listing
              Local code change
              Company meeting
              New listing
              Company meeting
              Local code change
Company meeting
International code change




Date


5/26/2011

2/8/2011

2/7/2011

2/22/2002
    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


  891,110   1,149,047
  747,942     758,185
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.

     n.a.        n.a.
   n.a.      n.a.
   n.a.      n.a.
143,168   390,862
 52,859    48,913
   n.a.      n.a.
   n.a.      n.a.
 52,859    48,913
 53,178    60,292
   n.a.      n.a.
   n.a.      n.a.
 53,178    60,292
   n.a.      n.a.
 37,131   281,657
 37,131   281,657
 37,131   281,657
   n.a.      n.a.
   n.a.      n.a.
 37,131   281,657
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.


552,705   571,479
481,366   505,647
 39,813    38,714
 39,813    38,714
   n.a.      n.a.
   n.a.      n.a.
663,086   656,161
663,086   656,161
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
686,718   678,092
 66,428    63,866
   n.a.      n.a.
 22,647    21,397
597,643   592,829
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
    7,685       1,093
    7,685       1,093
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
 -915,936    -868,413
 -915,936    -868,413
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
   71,339      65,832
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
   71,339      65,832
     n.a.        n.a.
   51,524      45,057
     n.a.        n.a.
        0           0
   19,815      20,775


1,443,815   1,720,526




    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


1,397,302   1,374,060
     n.a.        n.a.
 -915,936    -868,413
 -915,936    -868,413
  481,366     505,647
     n.a.        n.a.
     n.a.        n.a.




  106,037     109,205
     n.a.        n.a.




    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


  500,344     474,232
       0         n.a.
       0         n.a.
     n.a.        n.a.
     n.a.        n.a.

       0         n.a.

  260,272     193,996
  260,272     193,996
  240,072     280,236
       0           0
     n.a.        n.a.
     n.a.        n.a.
   36,541      28,022
   36,541      28,022
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.
  203,531     252,214
     n.a.        n.a.
     n.a.        n.a.
   n.a.        n.a.
 37,531     43,515
 65,260     93,706
 62,978     58,815
   n.a.        n.a.
 37,762     43,518
     0      12,660
   n.a.        n.a.


304,985    116,591
163,700          0
163,700          0
163,700          0
   n.a.        n.a.
   n.a.        n.a.
   n.a.        n.a.
141,285    116,591
   n.a.        n.a.
   n.a.        n.a.
   n.a.        n.a.
 45,092     44,238
 45,092     44,238
   n.a.        n.a.
 96,193     72,353
 35,955     37,801
 34,885     34,552
 25,353          0
   n.a.        n.a.
   n.a.        n.a.


805,329    590,823


638,486   1,129,703
  1,175      1,175
  1,175      1,175
  1,175      1,175
   n.a.        n.a.
   n.a.        n.a.
   n.a.        n.a.
   n.a.        n.a.
637,311   1,128,528
  490,959     477,318
     n.a.        n.a.
  490,959     477,318
 -784,718    -124,182
 -784,718    -124,182
     n.a.        n.a.
     n.a.        n.a.
  937,571     781,325
  937,571     781,325
   -6,501      -5,933
     n.a.        n.a.
     n.a.        n.a.
     n.a.          0
   -6,501      -5,933



1,443,815   1,720,526


   14,113      15,467
   14,113      15,467
     n.a.        n.a.




    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


  163,700          0
  163,700          0
       0           0
  638,486   1,129,703
  126,569    -281,657
2,048,373   2,588,872




     n.a.        n.a.
   37,762      43,518
     0      12,660
   n.a.        n.a.
163,700          0
141,285    116,591
805,329    590,823
 82,682    109,633
 82,682    109,633
 34,813      7,862
  1,127      1,175
143,168    390,862
   0.29        0.82
   1.78        2.42
126,569    -281,657
638,486   1,129,703
   7.72      10.30
163,700          0
     0           0

 81,850          0
 81,850          0
     0         n.a.
     0         n.a.
163,700          0

     0           0


   -263        n.a.
  2,497        n.a.
  1,029        n.a.

  1,014        n.a.

   554         n.a.

   140         n.a.

    23         n.a.

  1,568        n.a.


   163         n.a.


   -263        n.a.


669,490    739,844
193,101    195,225

158,220    168,619
  117,674      132,353

   84,971       93,340

   54,321       64,338

  275,894      300,972


  139,292      157,678


   61,203       85,969




    Cons         Cons
 2/2/2008     2/3/2007
12 months    12 months
  Unqual       Unqual
   th USD       th USD
     10-K         10-K
US GAAP      US GAAP


4,656,302    4,743,048
4,656,302    4,743,048
4,656,302    4,743,048
      n.a.         n.a.
4,656,302    4,743,048
      n.a.         n.a.
-2,815,959   -2,851,616
-2,815,959   -2,851,616
      n.a.         n.a.
-2,815,959   -2,851,616
  -88,484     -101,279
      n.a.         n.a.
-1,515,379   -1,622,339
-1,515,379   -1,622,339
      n.a.         n.a.
        0            0
        0            0
        0            0
        0            0
  324,964      269,093


  -88,484     -101,279
  -88,484    -101,279
  -88,484    -101,279
     n.a.        n.a.
     n.a.        n.a.
  236,480     167,814
     n.a.        n.a.
  236,480     167,814
    5,236       3,257
     n.a.        n.a.
     n.a.        n.a.
    5,236       3,257
   -2,513        -581
   -2,513        -581
    2,723       2,676
     n.a.        n.a.
  239,203     170,490
  -88,023     -57,872
  -88,023     -57,872
  151,180     112,618
     n.a.        n.a.
     n.a.        n.a.
    7,281      11,427
     n.a.        n.a.
     n.a.        n.a.
    7,281      11,427
     n.a.        n.a.
     n.a.        n.a.
  158,461     124,045


       0           0
       0           0
     n.a.        n.a.




    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP
      n.a.         n.a.


      n.a.         n.a.
      n.a.         n.a.
      n.a.         n.a.
      n.a.         n.a.




1,840,343    1,891,432
      n.a.         n.a.
-4,419,822   -4,575,234
    -2,513        -581
    5,236        3,257

  151,180      112,618
  158,461      124,045
  151,180      112,618
      101          110
     1.49         1.02

     1.56         1.12

      n.a.           0
  158,461      124,045
      103          112
     1.47         1.01
     1.54         1.11
     0.00         0.00
        0            0
      n.a.         n.a.

      n.a.         n.a.

      n.a.         n.a.

      n.a.         n.a.

    -2,513        -581
      n.a.         n.a.
  -88,484     -101,279
      200          n.a.
  239,403      170,490
       74          n.a.

   88,097       57,872
  151,306     112,618
  151,306     112,618
     1.49        1.02
     1.48        1.01
 -235,300    -239,349
  104,100     105,400
    39.52       39.88
     5.08        3.54
     5.14        3.59
    36.80       33.95
     3.25        2.37
  236,680     167,814
  325,164     269,093
   80,215      66,243
     n.a.        n.a.
    7,783       5,044
   87,998      71,287
   -4,249     -13,415
    4,274        n.a.
      25      -13,415
     n.a.          0
   88,023      57,872
     n.a.        n.a.
     n.a.        n.a.
    9,907       6,585
    1,348       1,437
      27         115
     296         112
       2           0




    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP
158,461   124,045
 83,103    95,613
   n.a.      n.a.
 83,103    95,613
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
   457    -13,641
   n.a.      n.a.
 -6,108   -14,218
   n.a.      n.a.
  3,676    12,223
   n.a.      n.a.
   n.a.      n.a.
 12,808    15,358
 10,376    13,363
   n.a.      n.a.
   n.a.      n.a.
   n.a.      n.a.
 10,243    77,907
   n.a.      n.a.
 -4,144     5,498
 66,276    24,044
   n.a.      n.a.
   n.a.      n.a.
  6,010    44,115
-22,850    10,533
   n.a.      n.a.
   n.a.      n.a.
 55,535   162,097


307,932   381,477




-60,360   -35,878
   n.a.      n.a.
   n.a.      n.a.
-60,360   -35,878
   n.a.      n.a.
    n.a.       n.a.
  1,394      4,883
436,040    488,075
    n.a.       n.a.
-436,040   -488,075
    n.a.       n.a.
    n.a.       n.a.
    202        574
  1,596      5,457


 -58,764    -30,421




 19,821     11,898
 19,821     11,898
    n.a.       n.a.
    n.a.       n.a.
    n.a.       n.a.
  2,365      1,514
-714,911   -150,450
-712,546   -148,309
    n.a.       n.a.
    n.a.       n.a.
    n.a.       n.a.
    n.a.       n.a.
    n.a.       n.a.

 35,923     57,519
    n.a.       n.a.
    n.a.       n.a.
-676,623    -90,790
    n.a.       n.a.
    n.a.       n.a.
    n.a.       n.a.
821,100    283,183
-657,992   -275,400
163,108      7,783
    n.a.       n.a.
    n.a.       n.a.
163,108      7,783
 -493,694     -71,109




     n.a.        n.a.


 -244,526     279,947
  281,657       1,710
   37,131     281,657




   83,103      95,613
    1,732        322
   61,526      35,727
     n.a.        n.a.
     n.a.        n.a.
     n.a.        n.a.




    Cons        Cons
 2/2/2008    2/3/2007
12 months   12 months
  Unqual      Unqual
   th USD      th USD
     10-K        10-K
US GAAP     US GAAP


    37.46       15.09
     5.14        3.59
    16.57        9.91
     1.78        2.42
    44.22       65.66
    12.13       23.14
2008    2007


17.36   25.93
16.85   25.01
22.30   31.28
27.03   32.20
31.06   31.50
31.24   29.42
30.46   25.86
29.57   29.77
27.83   29.84
24.43   23.98
17.52   18.67
14.49   15.99
1/30/2010   1/31/2009
    USD         USD




     1.00        1.00
   28.41       13.45
   31.17       34.71
   12.62       12.93




 110,703     110,703
     0.01        0.01
   3,145       1,489
996.00   1100.00




  1.81      1.37




  2.49      2.08
  0.71      0.80
 42.70     41.96
  2.94      2.30
  0.00      0.00
  9.05      7.00
  n.a.      n.a.
  1.13      1.29
  n.a.      n.a.
1/30/2010   1/31/2009




   15.70         9.83
   17.22       25.36
     6.97        9.45
   12.10       17.40




     6.37      10.18
   14.34       10.59
     5.81        3.94
     8.27        5.75




   11.43         6.47




     0.00        0.00
     0.00        0.00
     0.00        0.00
     0.00        0.00




     0.00        0.00




     3.14        1.92
     3.45        4.96
     1.40        1.85
     2.42        3.40




     3.14        1.92
2008    2007


17.36   26.34
18.63   27.49
23.69   33.38
27.03   34.55
31.06   36.15
34.46   31.95
32.45   31.00
34.71   29.77
33.20   31.48
27.28   30.75
24.84   23.29
17.27   18.02




12.40   22.71
15.00   24.13
16.36   23.43
20.92   31.10
26.37   31.26
30.09   28.71
26.03   25.78
29.06   23.00
27.64   27.85
18.99   22.60
13.28   18.51
13.45   15.35




17.36   25.93
16.85   25.01
22.30   31.28
27.03   32.20
31.06   31.50
31.24   29.42
30.46   25.86
29.57   29.77
27.83   29.84
24.43   23.98
17.52   18.67
     14.49        15.99




82,624,912   31,203,700
57,010,732   30,255,414
68,319,216   70,229,872
53,546,172   38,672,324
49,332,864   43,616,760
65,721,436   65,822,828
78,423,992   46,023,080
64,926,108   69,629,008
62,074,412   44,166,300
73,275,696   59,523,032
58,493,108   74,067,824
60,132,896   72,904,264




 3,934,520    1,560,185
 2,850,537    1,592,390
 3,415,961    3,192,267
 2,433,917    1,933,616
 2,349,184    1,982,580
 3,129,592    3,134,420
 3,564,727    2,191,575
 3,091,719    3,027,348
 2,955,924    2,324,542
 3,185,900    2,587,958
 3,078,585    3,527,039
 2,733,313    3,645,213




       21           20
       20           19
       20           22
       22           20
       21           22
       21           21
       22           21
       21           23
       21           19
       23           23
      19          21
      22          20




 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703
 110,703     110,703




1,921,804   2,870,529
1,865,346   2,768,682
2,468,677   3,462,790
2,992,302   3,564,637
3,438,435   3,487,145
3,458,362   3,256,882
3,372,013   2,862,780
3,273,488   3,295,628
3,080,864   3,303,378
2,704,474   2,654,658
1,939,517   2,066,825
1,604,086   1,770,141




5/13/2011    5/6/2011


   39.68       41.42
   37.21       38.83
   38.53       39.31
     35.94      35.76


13,514,872   9,314,631
 2,702,974   1,862,926
         5           5


  110,703     110,703


 4,265,386   4,351,735




 5/13/2011    5/6/2011




     0.78        0.99
     0.82        0.70
     0.81        0.89
     0.48        0.31
     0.58        0.46
     0.39        0.43




     0.67        0.80
     0.68        0.60
     0.65        0.71
     0.46        0.28
     0.56        0.45
     0.37        0.42




      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.
      n.a.        n.a.




 5/13/2011    5/6/2011
         0.30            0.30
         0.31            0.32
         0.18            0.20
         0.15            0.15
         0.18            0.18




3/2011          2/2011
40.63           31.86
39.89           31.81
41.33           32.27
41.00           33.95




41.09           39.20
41.85           39.10
42.02           39.98
41.95           40.77
43.05           41.57




42.75           41.38
41.96           40.84
42.34           40.75
41.77           40.93
41.10           41.78




41.75
42.28           41.01
42.87           40.08
43.48           39.78
43.55           40.71




43.20           41.03
43.09
43.59
43.43




        1/31/2014   1/31/2015




               1           1


               0           0
               1           1
               0           0
               0           0


               0           0
               1           1
               0           0
               0           0


             0.00        0.00
          100.00      100.00
             0.00        0.00
             0.00        0.00


             0.00        0.00
          100.00      100.00
             0.00        0.00
             0.00        0.00




             3.48        3.83
             0.00        0.00
            -5.69       -4.73


             3.48        3.83
             0.00        0.00
            -5.69       -4.73


             3.48        3.83
      3.48        3.83


      0.00        0.00
      0.00        0.00




      9.35        8.49




10/31/2011   1/31/2012
       Q3          Q4




       16          16




      0.22        1.55


      0.22        1.54
     -2.22        0.00
    -15.38       -0.65


      0.31        1.73
      0.16        1.47
    36.97         5.28
      0.03        0.07
    14.91         4.62




 1/31/2015
0




-
-


-
-
-
-
-


-
-
-




0




-
-


-
-
-
-
-


-
-
-




0
    -
    -


    -
    -
    -
    -


    -
    -
    -




   2




 290
 290


 298
 281
12.16
 4.20


-3.14
-2.66
-7.03




   2




6,041
6,041
6,049
6,032
12.02
 0.20


-1.89
-0.49
-2.99




   2




 462
 462


 480
 445
24.68
 5.34


-1.82
-0.62
-5.69




   1




 550
 550


 550
 550
 0.00
 0.00
 -5.01
 -5.01
-11.15
              Country




 , Chief Executive Officer and Chief Restructuring Officer of Rhodes, Inc. (furniture retailer that filed for bankruptcy on November 4, 2004); the Chairman an
pabilities, and more than 36 years of diverse retail experience with discount, specialty and department store retailers, including 25 years of experience in a
, as well as the reporting, planning, and control functions of the business. Mr. Cooper was promoted to Executive Vice President in March 2010, and assum
2000, he assumed responsibility for the treasury department and was appointed Vice President, Treasurer.




 dise planning and allocation, and distribution and transportation services. Ms. Bachmann was promoted to Executive Vice President in March 2010, and a
or to joining the Company, Ms. Bachmann was Senior Vice President of Planning and Allocation of Ames Department Stores, Inc., a discount retailer which
estate. Mr. Haubiel was promoted to Executive Vice President in March 2010 and assumed responsibility for real estate in January 2008. Prior to that, he w
Counsel and Corporate Secretary in 2000.




Company in 2003, Mr. Martin was President of Garden Ridge Corporation, an arts and crafts retailer which filed for bankruptcy on February 2, 2004. Mr. M
ing, Big Lots Capital and Wholesale. Mr. Wurl, previously served Sears Holding Corporation, a retailer, as its Vice President, General Merchandise Manag




ompany's in 2005, Mr. Claxton served as General Manager and Executive Vice President of Initiative Media, an advertising and communications company,




President of Garden Ridge Corporation, an arts and crafts retailer which filed for bankruptcy on February 2, 2004. Mr. Martin also served as President and




assumed his current role in January 2008, after serving as Senior Vice President, General Merchandise Manager with responsibility for consumables and h
gories. Mr. Segal joined in 2004 as Vice President, Divisional Merchandise Manager, Furniture, and was promoted to Senior Vice President, General Merch
 o 2004.




 well as the Company's play & wear department within the other category. Mr. Smart joined the Company in May 2003 as Vice President, Divisional Merch




dise. Mr. Wilson joined the Company in 1995. Prior to joining the Company, Mr. Wilson was Vice President of Distribution of Limited Brands, Inc., a retaile




 unts payable, and inventory control. Mr. Schroeder joined the Company as Director, Accounting Operations in April 2005, and was promoted to Vice Presi




oted to Vice President, Strategic Planning and Investor Relations in February 2004. He joined the Company in 2000 as Director of Strategic Planning.
cer of Heinz North America Foodservice (manufacturer and marketer of processed food products). The Board would be well served by the perspective prov




viously served as the President and Chief Operating Officer of Family Dollar Stores, Inc. (retailer); and the Chairman and Chief Executive Officer of the Gol
 inue serving on the Board.




ently a director of Limited Brands, Inc. (where he is a member of the compensation committee and the finance committee), Select Comfort Corporation (wh
ship skills, service on the boards of other public companies, and his advanced academic degrees in business administration led to the conclusion that he w




otwear). Ms. Lauderback also previously served as the President û Footwear Wholesale of U.S. Shoe Corporation (retail and wholesale footwear); and the
n and incentives committee), Select Comfort Corporation (where she is the chair of the corporate governance and nominating committee), and Wolverine W
eadership roles with other retailers make her well-suited to continue serving on the Board.
ce President and Chief Financial Officer of Intimate Brands, Inc. (retail stores). Mr. Mallott previously served as a director of Tween Brands, Inc. Mr. Mallot
e a member of the Board.




where he also previously served as the Executive Vice President and Chief Financial Officer. Additionally, Mr. Solt previously served as the Chief Financia
dit committee financial,ö makes him well-suited to continue serving on the Board.




sale music that filed for bankruptcy on July 11, 2006). Mr. Tener also previously served as the Chief Operating Officer of The Sports Authority (sporting goo




porter, exporter, retailer and wholesaler), and the President of Tishkoff and Associates, Inc. (retail consultant). Mr. Tishkoff previously served as the Presid
e a member of the Board.
     Ownership
Direct (%)       Total (%)




         -           7.13

         -           6.57
         -           5.87
         -           5.22
         -           5.01
         -           4.10
         -           3.43

         -           3.32
         -           2.54
         -           2.23
         -           1.93
         -           1.59
         -           1.46
         -           1.43
         -           1.25

         -           1.18
         -           1.11


         -           1.10

         -           1.10
         -           1.01
         -           1.00
-   0.96

-   0.96
-   0.83

-   0.82

-   0.80
-   0.74
-   0.74


-   0.68
-   0.67

-   0.64
-   0.60

-   0.60
-   0.60

-   0.60

-   0.56
-   0.55
-   0.53

-   0.50

-   0.49
-   0.47

-   0.46
-   0.44


-   0.39

-   0.38
-   0.37
-   0.36
-   0.35
-   0.34

-   0.34
-   0.32

-   0.32
-   0.29

-   0.29
-   0.27
-   0.25
-   0.25
-   0.24

-   0.24

-   0.24

-   0.23

-   0.23

-   0.22

-   0.22
-   0.20

-   0.20
-   0.20
-   0.20

-   0.19

-   0.19
-   0.19

-   0.18

-   0.17
-   0.17


-   0.16

-   0.16

-   0.16
-   0.16
-   0.16

-   0.16

-   0.15

-   0.14

-   0.14
-   0.14
-   0.14
-   0.13

-   0.13
-   0.13

-   0.12
-   0.12
                                         -   0.12

                                         -   0.11
                                         -   0.11




Big Lots receives interest from equity
firms (deal no. 1601244764)




Country
 , Chief Executive Officer and Chief Restructuring Officer of Rhodes, Inc. (furniture retailer that filed for bankruptcy on November 4, 2004); the Chairman an
pabilities, and more than 36 years of diverse retail experience with discount, specialty and department store retailers, including 25 years of experience in a




, as well as the reporting, planning, and control functions of the business. Mr. Cooper was promoted to Executive Vice President in March 2010, and assum
2000, he assumed responsibility for the treasury department and was appointed Vice President, Treasurer.
 dise planning and allocation, and distribution and transportation services. Ms. Bachmann was promoted to Executive Vice President in March 2010, and a
or to joining the Company, Ms. Bachmann was Senior Vice President of Planning and Allocation of Ames Department Stores, Inc., a discount retailer which




estate. Mr. Haubiel was promoted to Executive Vice President in March 2010 and assumed responsibility for real estate in January 2008. Prior to that, he w
Counsel and Corporate Secretary in 2000.
Company in 2003, Mr. Martin was President of Garden Ridge Corporation, an arts and crafts retailer which filed for bankruptcy on February 2, 2004. Mr. M




ing, Big Lots Capital and Wholesale. Mr. Wurl, previously served Sears Holding Corporation, a retailer, as its Vice President, General Merchandise Manag




ompany's in 2005, Mr. Claxton served as General Manager and Executive Vice President of Initiative Media, an advertising and communications company,
President of Garden Ridge Corporation, an arts and crafts retailer which filed for bankruptcy on February 2, 2004. Mr. Martin also served as President and




assumed his current role in January 2008, after serving as Senior Vice President, General Merchandise Manager with responsibility for consumables and h




gories. Mr. Segal joined in 2004 as Vice President, Divisional Merchandise Manager, Furniture, and was promoted to Senior Vice President, General Merch
 o 2004.




 well as the Company's play & wear department within the other category. Mr. Smart joined the Company in May 2003 as Vice President, Divisional Merch




dise. Mr. Wilson joined the Company in 1995. Prior to joining the Company, Mr. Wilson was Vice President of Distribution of Limited Brands, Inc., a retaile
unts payable, and inventory control. Mr. Schroeder joined the Company as Director, Accounting Operations in April 2005, and was promoted to Vice Presi




oted to Vice President, Strategic Planning and Investor Relations in February 2004. He joined the Company in 2000 as Director of Strategic Planning.




cer of Heinz North America Foodservice (manufacturer and marketer of processed food products). The Board would be well served by the perspective prov




viously served as the President and Chief Operating Officer of Family Dollar Stores, Inc. (retailer); and the Chairman and Chief Executive Officer of the Gol
 inue serving on the Board.
ently a director of Limited Brands, Inc. (where he is a member of the compensation committee and the finance committee), Select Comfort Corporation (wh
ship skills, service on the boards of other public companies, and his advanced academic degrees in business administration led to the conclusion that he w




otwear). Ms. Lauderback also previously served as the President û Footwear Wholesale of U.S. Shoe Corporation (retail and wholesale footwear); and the
n and incentives committee), Select Comfort Corporation (where she is the chair of the corporate governance and nominating committee), and Wolverine W
eadership roles with other retailers make her well-suited to continue serving on the Board.




ce President and Chief Financial Officer of Intimate Brands, Inc. (retail stores). Mr. Mallott previously served as a director of Tween Brands, Inc. Mr. Mallot
e a member of the Board.




where he also previously served as the Executive Vice President and Chief Financial Officer. Additionally, Mr. Solt previously served as the Chief Financia
dit committee financial,ö makes him well-suited to continue serving on the Board.
sale music that filed for bankruptcy on July 11, 2006). Mr. Tener also previously served as the Chief Operating Officer of The Sports Authority (sporting goo




porter, exporter, retailer and wholesaler), and the President of Tishkoff and Associates, Inc. (retail consultant). Mr. Tishkoff previously served as the Presid
e a member of the Board.




              Date

              5/26/2011
              5/27/2010
              5/28/2009
              5/29/2008
              10/24/2007
              8/18/2006
              5/18/2004
              7/18/2003
              5/20/2003
              6/5/2002
5/21/2002
5/17/2002




Title

Big Lots to acquire Liquidation World (deal no.
1601273823)
Big Lots draws takeover interest: report (deal
no. 1601244764)
Big Lots receives interest from equity
firms (deal no. 1601244764)
Wallace R. Weitz sells Big Lots stake (deal
no. 113399)
    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP


  993,754   1,034,782   1,134,303   1,068,021
  836,092     895,016     829,569     776,210
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
157,662   139,766   304,734   291,811
 77,413    63,400    57,452    63,582
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
 77,413    63,400    57,452    63,582
 78,539    73,845    65,779    61,221
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
 78,539    73,845    65,779    61,221
   n.a.      n.a.      n.a.      n.a.
  1,710     2,521   181,503   167,008
  1,710     2,521   181,503   167,008
  1,710     2,521   174,003   167,008
   n.a.      n.a.      n.a.    23,193
   n.a.      n.a.      n.a.      n.a.
  1,710     2,521   174,003   143,815
   n.a.        0      7,500      n.a.
   n.a.        0      7,500      n.a.
   n.a.      n.a.      n.a.      n.a.


631,743   698,802   666,240   573,740
584,083   648,741   621,998   532,900
 39,882    39,913    39,688    39,564
 39,882    39,913    39,688    39,564
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
651,998   649,618   602,840   481,372
651,998   649,618   602,840   481,372
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
678,621   687,093   626,618   558,834
 59,922    55,303      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
 21,483    22,741    21,912    21,204
597,216   609,049   604,706   537,630
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
    1,706      10,336      14,340      15,356
    1,706      10,336      14,340      15,356
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
 -788,124    -738,219    -661,488    -562,226
 -788,124    -738,219    -661,488    -562,226
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
   47,660      50,061      44,242      40,840
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
   47,660      50,061      44,242      40,840
     n.a.        n.a.        n.a.        n.a.
   18,609      12,820      20,060      17,766
     n.a.        n.a.        n.a.        n.a.
        0           0           0           0
   29,051      37,241      24,182      23,074


1,625,497   1,733,584   1,800,543   1,641,761




    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP


1,372,207   1,386,960   1,283,486   1,095,126
     n.a.        n.a.        n.a.        n.a.
 -788,124    -738,219    -661,488    -562,226
 -788,124    -738,219    -661,488    -562,226
  584,083     648,741     621,998     532,900
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.




  155,952     137,245     123,231     124,803
     n.a.        n.a.        n.a.        n.a.




    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP


  436,523     412,513     415,683     410,397
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.

  169,952     149,777     161,884     119,813
  169,952     149,777     161,884     119,813
  266,571     262,736     253,799     290,584
       0           0           0           0
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     325         n.a.        n.a.        n.a.
     325         n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  266,246     262,736     253,799     290,584
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.     13,836      25,673
  25,171      20,860      29,543      45,525
 107,126     102,118      92,486     107,177
  60,270      58,792      56,642      49,032
     n.a.      3,213         n.a.        n.a.
  46,474      45,255      37,011      63,177
  27,205      32,498      24,281         n.a.
     n.a.        n.a.        n.a.        n.a.


 110,250     245,581     276,081     205,183
   5,500     159,200     204,000     204,000
   5,500     159,200     204,000     204,000
   5,500     159,200     204,000     204,000
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
 104,750      86,381      72,081       1,183
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  42,037      35,955         n.a.        n.a.
  42,037      35,955         n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  62,713      50,426      72,081       1,183
  42,288      39,533         n.a.        n.a.
  20,425      10,893      72,081       1,183
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.


 546,773     658,094     691,764     615,580


1,078,724   1,075,490   1,108,779   1,026,181
   1,175       1,175       1,169       1,162
   1,175       1,175       1,169       1,162
   1,175       1,175       1,169       1,162
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
1,077,549   1,074,315   1,107,610   1,025,019
  470,677     472,790     466,740     458,043
     n.a.        n.a.        n.a.        n.a.
  470,677     472,790     466,740     458,043
  -48,294     -64,029      -2,735        n.a.
  -48,294     -64,029      -2,735        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  657,280     667,368     643,605     566,976
  657,280     667,368     643,605     566,976
   -2,114      -1,814          0         n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
   -2,114      -1,814          0         n.a.
       0         n.a.        n.a.        n.a.



1,625,497   1,733,584   1,800,543   1,641,761


   17,124      18,623      18,591      17,475
   17,124      18,623      18,591      17,475
     n.a.        n.a.        n.a.        n.a.




    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP


    5,500     159,200     204,000     204,000
    5,500     159,200     204,000     204,000
       0           0           0           0
1,078,724   1,075,490   1,108,779   1,026,181
    3,790     156,679      22,497      36,992
1,483,889   1,403,195   1,586,730        n.a.




     n.a.       3,213        n.a.        n.a.
   46,474      45,255      37,011      63,177
  27,205      32,498      24,281         n.a.
     n.a.        n.a.        n.a.        n.a.
   5,500     159,200     204,000     204,000
 104,750      86,381      72,081       1,183
 546,773     658,094     691,764     615,580
 113,932     112,780     116,594     116,165
 113,932     112,780     116,594     116,165
   3,563       4,715         333         n.a.
   1,322       1,312       1,351       1,358
 157,662     139,766     304,734     291,811
     0.36        0.34        0.73        0.71
     2.28        2.51        2.73        2.60
   3,790     156,679      22,497      36,992
1,078,724   1,075,490   1,108,779   1,026,181
     9.47        9.54        9.51        8.83
   5,500     159,200     204,000     204,000
   1,833      53,067           0           0

   1,833      53,067     174,000           0
   1,833      53,067      15,000     174,000
     n.a.        n.a.     15,000      15,000
     n.a.        n.a.          0      15,000
   3,667     106,133     189,000     174,000

       0           0           0           0


     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.


     n.a.        n.a.        n.a.        n.a.


     n.a.        n.a.        n.a.        n.a.


 806,070     863,551     822,606     664,541
 186,999     192,008     202,385     156,613

 164,750     173,258     176,859     138,269
  140,572      144,069      140,733      115,679

  109,001      117,543      104,572       88,535

   75,777       85,034       76,835       59,962

  305,322      317,327      317,592      253,948


  184,778      202,577      181,407      148,497


  128,971      151,639      121,222      105,483




    Cons      Cons (R)     Cons (R)     Cons (R)
1/28/2006    1/29/2005    1/31/2004     2/1/2003
12 months    12 months    12 months    12 months
  Unqual       Unqual       Unqual       Unqual
   th USD       th USD       th USD       th USD
     10-K         10-K         10-K         10-K
US GAAP      US GAAP      US GAAP      US GAAP


4,429,905    4,149,252    3,942,653    3,868,550
4,429,905    4,149,252    3,942,653    3,868,550
4,429,905    4,149,252    3,942,653    3,868,550
      n.a.         n.a.         n.a.         n.a.
4,429,905    4,149,252    3,942,653    3,868,550
      n.a.         n.a.         n.a.         n.a.
-2,698,239   -2,462,114   -2,292,123   -2,236,633
-2,698,239   -2,462,114   -2,292,123   -2,236,633
      n.a.         n.a.         n.a.         n.a.
-2,698,239   -2,462,114   -2,292,123   -2,236,633
 -108,657     -101,917      -92,407      -88,960
      n.a.         n.a.         n.a.         n.a.
-1,596,136   -1,518,589   -1,439,444   -1,400,986
-1,596,136   -1,518,589   -1,439,444   -1,400,986
      n.a.         n.a.         n.a.         n.a.
        0            0            0            0
        0            0            0            0
        0            0            0            0
        0            0            0            0
  135,530      168,549      211,086      230,931


 -108,657      -99,362      -88,960      -85,690
 -108,657     -99,362     -88,960     -85,690
 -108,657     -99,362     -88,960     -85,690
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
   26,873      69,187     122,126     145,241
     n.a.        n.a.        n.a.        n.a.
   26,873      69,187     122,126     145,241
     313         618        1,061        843
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     313         618        1,061        843
   -6,272     -24,845     -16,443     -20,954
   -6,272     -24,845     -16,443     -20,954
   -5,959     -24,227     -15,382     -20,111
     n.a.        n.a.        n.a.        n.a.
   20,914      44,960     106,744     125,130
   -5,189     -13,528     -20,833     -49,397
   -5,189     -13,528     -20,833     -49,397
   15,725      31,432      85,911      75,733
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  -25,813      -7,669      -5,691          0
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  -25,813      -7,669      -5,691          0
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
  -10,088      23,763      80,220      75,733


       0           0           0           0
       0           0           0           0
     n.a.        n.a.        n.a.        n.a.




    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP
      n.a.         n.a.         n.a.         n.a.


      n.a.         n.a.         n.a.         n.a.
      n.a.         n.a.         n.a.         n.a.
      n.a.         n.a.         n.a.         n.a.
      n.a.         n.a.         n.a.         n.a.




1,731,666    1,687,138    1,650,530    1,631,917
      n.a.         n.a.         n.a.         n.a.
-4,403,032   -4,080,065   -3,820,527   -3,723,309
    -6,272     -24,845      -16,443      -20,954
      313          618        1,061          843

   15,725       31,432       85,911       75,733
  -10,088       23,763       80,220       75,733
   15,725       31,432       85,911       75,733
      113          114          117          116
     0.14         0.28         0.74         0.65

     -0.09        0.21         0.69         0.65

        0            0            0            0
  -10,088       23,763       80,220       75,733
      114          115          117          117
     0.14         0.27         0.73         0.65
     -0.09        0.21         0.68         0.65
     0.00         0.00         0.00          0.00
        0            0            0            0
      n.a.       3,604        6,034        5,055

      n.a.      20,159       74,186       70,678

      n.a.        0.18         0.64         0.61

      n.a.        0.18         0.63         0.61

    -6,272     -24,845      -16,443      -20,954
      n.a.         n.a.         n.a.         n.a.
 -108,657     -101,917      -92,407      -88,960
      n.a.         n.a.         n.a.         n.a.
   20,914       44,960      106,744      125,130
      n.a.         n.a.         n.a.         n.a.

    5,189       13,528       20,833       49,397
   15,725      31,432      85,911      75,733
   15,725      31,432      85,911      75,733
     0.14        0.28        0.74        0.65
     0.14        0.27        0.73        0.65
 -241,815    -225,018    -201,760    -209,105
  103,200      97,200     102,300      97,100
    39.09       40.66       41.86       42.18
     0.61        1.67        3.10        3.75
     0.47        1.08        2.71        3.23
    24.81       30.09       19.52       39.48
     0.36        0.76        2.18        1.96
   26,873      69,187     122,126     145,241
  135,530     171,104     214,533     234,201
   12,512       9,582       8,817      -2,310
     n.a.        n.a.        n.a.        n.a.
     -577        -336       7,311       2,273
   11,935       9,246      16,128         -37
   -6,746       4,282       4,705      49,434
     n.a.        n.a.        n.a.        n.a.
   -6,746       4,282       4,705      49,434
       0         n.a.        n.a.        n.a.
    5,189      13,528      20,833      49,397
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     879         n.a.        n.a.        n.a.
    1,627       1,367        n.a.        374
     109         120         n.a.        164
      25         114         n.a.        145
       0           0         n.a.          4




    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP
-10,088    23,763     80,220     75,733
114,617   101,917     92,407     85,840
   n.a.       n.a.       n.a.       n.a.
114,617   101,917     92,407     85,840
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
-10,483      -826      -4,471    49,434
   n.a.       n.a.       n.a.       n.a.
     0      6,648      9,720          0
   n.a.       n.a.       n.a.       n.a.
 10,477     4,063     12,069      1,056
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
  6,320     5,727      5,000      6,004
 16,797    16,438     26,789      7,060
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
 58,924    -65,447    -53,359    -70,917
   n.a.       n.a.       n.a.       n.a.
-12,865    -14,581     -3,743     -8,184
 11,693    -12,107    42,071      3,577
 21,985     9,548     -18,827    52,875
   n.a.       n.a.       n.a.       n.a.
 -2,620     -7,259    -11,837    22,050
 25,005    19,815     39,569     12,921
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
102,122    -70,031     -6,126    12,322


212,965    71,261    188,819    230,389




-68,503   -135,291   -170,175   -110,110
   n.a.       n.a.       n.a.       n.a.
   n.a.       n.a.       n.a.       n.a.
-68,503   -135,291   -170,175   -110,110
   n.a.       n.a.       n.a.       n.a.
    1,844          245        108      2,271
      n.a.         n.a.       n.a.       n.a.
        0      122,625          0          0
      n.a.         n.a.       n.a.       n.a.
        0     -115,125      -7,500         0
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      -43         -210       -324      3,667
    1,801        7,535      -7,716     5,938


  -66,702     -127,756    -177,891   -104,172




     -389        -7,195      -693      -4,735
     -389        -7,195      -693      -4,735
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
        0      -75,000        n.a.       n.a.
        0      -75,000        n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.

    7,015       12,008      3,704     16,087
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
    7,015      -62,992      3,704     16,087
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
2,325,300    1,448,200    305,000    448,800
-2,479,000   -1,493,000   -305,000   -448,800
 -153,700      -44,800          0          0
      n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.       n.a.       n.a.
 -153,700      -44,800          0          0
 -147,074    -114,987       3,011      11,352




     n.a.        n.a.        n.a.        n.a.


     -811    -171,482      13,939     137,569
    2,521     174,003     160,064      22,495
    1,710       2,521     174,003     160,064




  114,617     101,917      92,407      85,840
    6,065      26,140      17,383      17,399
   22,227      23,314      45,213      39,066
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.




    Cons     Cons (R)    Cons (R)    Cons (R)
1/28/2006   1/29/2005   1/31/2004    2/1/2003
12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP


     1.94        4.18        9.63       12.19
     0.47        1.08        2.71        3.23
     1.29        2.59        5.93        7.62
     2.28        2.51        2.73        2.60
    66.36       62.04       61.58       62.50
     n.s.       52.46       19.50        n.a.
2006    2005    2004


13.37   11.26   14.13
12.71   11.67   14.40
13.96   12.02   14.50
14.45   10.18   14.16
16.22   12.66   14.62
17.08   13.24   14.46
16.16   12.97   12.24
18.35   11.81   12.19
19.81   10.99   12.23
21.08   11.57   12.39
22.31   12.29   11.60
22.92   12.01   12.13
1/31/2009   2/2/2008
    USD        USD




     1.00      1.00
   13.45      17.36
   34.71      36.15
   12.93      12.40




 110,703    110,703
     0.01      0.01
   1,489      1,922
1100.00   1127.00




   1.37      1.43




   2.08      2.23
   0.80      0.55
  41.96     42.06
   2.30      2.14
   0.00      0.00
   7.00      5.77
   n.a.      n.a.
   1.29      2.76
   n.a.      n.a.
1/31/2009   2/2/2008




     9.83     12.13
   25.36      25.26
     9.45       8.66
   17.40      16.96




   10.18        8.24
   10.59      11.54
     3.94       3.96
     5.75       5.90




     6.47       7.78




     0.00       0.00
     0.00       0.00
     0.00       0.00
     0.00       0.00




     0.00       0.00




     1.92       3.01
     4.96       6.27
     1.85       2.15
     3.40       4.21




     1.92       3.01
2006    2005    2004


13.88   12.18   15.25
14.24   13.38   15.61
14.38   12.20   14.84
14.95   12.20   15.30
16.99   13.49   14.67
17.20   14.29   15.62
17.08   13.61   14.47
19.00   13.19   12.80
20.57   12.00   13.27
21.18   12.50   12.78
26.36   13.00   13.26
24.11   12.78   12.60




11.83   10.62   13.64
12.48   11.13   13.90
12.40   11.52   13.43
13.16   10.06   14.03
13.25   10.13   12.67
15.57   12.51   14.07
15.05   11.03   12.22
15.70   11.26   11.05
18.12   10.38   11.97
19.47   10.54   11.22
20.03   11.37   11.60
21.48   11.71   11.29




13.37   11.26   14.13
12.71   11.67   14.40
13.96   12.02   14.50
14.45   10.18   14.16
16.22   12.66   14.62
17.08   13.24   14.46
16.16   12.97   12.24
18.35   11.81   12.19
19.81   10.99   12.23
21.08   11.57   12.39
22.31   12.29   11.60
     22.92        12.01        12.13




14,108,500   16,686,800   11,337,800
16,927,000   19,725,300   11,792,800
20,045,600   13,652,000   18,366,300
12,900,900   13,921,900    9,449,400
25,210,500   27,046,000   15,877,800
48,553,900   23,902,400   14,577,800
35,525,000   25,010,200   18,000,700
47,240,400   19,643,600   14,867,400
35,376,500   12,917,900   10,753,200
34,419,200   15,128,000   14,322,900
48,294,200   14,593,700   13,868,400
30,704,900   13,530,300   14,560,500




  705,425      834,340      566,890
  890,895     1,038,174     620,674
  871,548      620,545      798,535
  678,995      662,948      449,971
 1,145,932    1,287,905     793,890
 2,206,995    1,086,473     694,181
 1,776,250    1,250,510     857,176
 2,053,930     854,070      675,791
 1,768,825     615,138      512,057
 1,564,509     720,381      682,043
 2,299,724     694,938      660,400
 1,535,245     644,300      661,841




       20           20           20
       19           19           19
       23           22           23
       19           21           21
       22           21           20
       22           22           21
       20           20           21
       23           23           22
       20           21           21
       22           21           21
      21          21          21
      20          21          22




 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703
 110,703     110,703     110,703




1,480,099   1,246,516   1,564,233
1,407,035   1,291,904   1,594,123
1,545,414   1,330,650   1,605,194
1,599,658   1,126,957   1,567,554
1,795,603   1,401,500   1,618,478
1,890,807   1,465,708   1,600,765
1,788,960   1,435,818   1,355,005
2,031,400   1,307,402   1,349,470
2,193,026   1,216,626   1,353,898
2,333,619   1,280,834   1,371,610
2,469,784   1,360,540   1,284,155
2,537,313   1,329,543   1,342,827




4/29/2011   4/21/2011   4/15/2011   4/8/2011


   41.59       43.23       43.99      44.44
   40.57       41.47       42.81      43.42
   41.11       41.49       43.53      43.73
   35.56       35.30       35.06       34.73


7,952,792   8,078,303   5,156,638   7,063,202
1,590,558   2,019,576   1,031,328   1,412,640
       5           4           5           5


 110,703     110,703     110,703     110,703


4,551,000   4,593,068   4,818,901   4,841,042




4/29/2011   4/21/2011   4/15/2011    4/8/2011




    0.87        0.90        0.99        0.96
    0.42        0.68        0.21        0.29
    0.87        0.89        0.90        0.89
    0.29        0.30        0.31        0.30
    0.32        0.43        0.16        0.23
    0.43        0.44        0.44        0.43




    0.66        0.68        0.72        0.69
    0.47        0.60        0.22        0.25
    0.70        0.72        0.73        0.72
    0.25        0.25        0.27        0.25
    0.38        0.43        0.19        0.22
    0.42        0.43        0.43        0.42




    0.99        0.94        0.88        0.88
    1.52        1.01        0.13        0.31
    0.77        0.77        0.74        0.74
    0.32        0.31        0.29        0.29
    0.98        0.78        0.11        0.25
    0.26        0.26        0.24        0.24




4/29/2011   4/21/2011   4/15/2011    4/8/2011
         0.30             0.30            0.34            0.34
         0.31             0.32            0.32            0.34
         0.20             0.21            0.21            0.40
         0.13             0.16            0.17            0.21
         0.13             0.14            0.08            0.09




1/2011          12/2010          11/2010         10/2010
                 31.01            30.90           33.44
                 31.09            31.11
30.41            29.50            31.41
30.74                             29.26           33.18
30.51                             30.12           32.94
30.43            28.57                            32.77
30.51            28.46                            32.93
                 28.56            30.19           33.17
                 28.42            29.98
31.17            28.42            30.18
31.05                             30.33           33.55
31.68                             29.82           33.90
32.09            28.00                            32.93
32.00            27.91                            32.94
                 28.31            29.87           33.12
                 28.85            29.88
                 29.55            29.90
32.34                             29.57           33.40
32.22                             29.40           33.28
32.41            29.29                            33.31
32.52            29.41                            33.38
                 29.91            29.57           33.50
                 30.27            31.13
32.60                             30.84
32.32                                             33.66
32.38                             30.92           33.72
32.34            29.96                            32.83
31.82            30.11                            32.44
                 30.45            30.69           31.37
        30.51   30.65
31.79   30.46
4/30/2012   7/31/2012   10/31/2012   1/31/2013
      Q1          Q2           Q3          Q4




       6           6            6           6




     0.77        0.53         0.29        1.68


     0.77        0.53         0.30        1.66
     0.00        0.00         0.00        0.00
   -12.07      -10.17       -11.76        1.84


     0.81        0.61         0.37        1.82
     0.74        0.45         0.21        1.54
   10.63       15.34        27.11         4.90
     0.03        0.06         0.06        0.11
     3.58      11.80        19.36         6.73
led for bankruptcy on November 4, 2004); the Chairman and Chief Executive Officer of Frank's Nursery & Crafts, Inc. (lawn and garden specialty retailer th
tment store retailers, including 25 years of experience in a senior executive role, make Mr. Fishman an excellent choice to continue serving on the Board.




                                                                                                      Salary
                                                                                                      Bonus
                                                                                                      Total S.T.
                                                                                                      compensation
                                                                                                      Other L.T.
                                                                                                      compensation
                                                                                                    Total
                                                                                                    compensation




oted to Executive Vice President in March 2010, and assumed responsibility for loss prevention and risk management. Prior to that Mr. Cooper was promo
 Treasurer.




                                                                                                    Salary
                                                                                                    Bonus
                                                                                                    Total S.T.
                                                                                                    compensation
                                                                                                    Other L.T.
                                                                                                    compensation
                                                                                                    Total
                                                                                                    compensation




romoted to Executive Vice President in March 2010, and assumed responsibility for distribution and transportation services. Ms. Bachman assumed the re
of Ames Department Stores, Inc., a discount retailer which filed for bankruptcy on August 20, 2001.




                                                                                                    Salary
                                                                                                    Bonus
                                                                                                    Total S.T.
                                                                                                    compensation
                                                                                                        Other L.T.
                                                                                                        compensation
                                                                                                        Total
                                                                                                        compensation




ponsibility for real estate in January 2008. Prior to that, he was promoted to Senior Vice President, General Counsel and Corporate Secretary in November




                                                                                                        Salary
                                                                                                        Bonus
                                                                                                        Total S.T.
                                                                                                        compensation
                                                                                                        Other L.T.
                                                                                                        compensation
                                                                                                        Total
                                                                                                        compensation




ailer which filed for bankruptcy on February 2, 2004. Mr. Martin also served as President and Chief Operating Officer of Michaels Stores, Inc., an arts and




                                                                                                        Salary
                                                                                                        Bonus
                                                                                                        Total S.T.
                                                                                                        compensation
                                                                                                        Other L.T.
                                                                                                        compensation
                                                                                                        Total
                                                                                                        compensation
retailer, as its Vice President, General Merchandise Manager, Business Unit President, SHC Home Division. Prior to his time at Sears, Mr. Wurl served Sh




ative Media, an advertising and communications company, and Chief Marketing Officer and Senior Vice President of Montgomery Ward, a retailer.




February 2, 2004. Mr. Martin also served as President and Chief Operating Officer of Michaels Stores, Inc., an arts and crafts retailer, and President, Retai




handise Manager with responsibility for consumables and hardware. Mr. Rankin joined the Company in 1998 as Vice President, Consumables upon the Co
and was promoted to Senior Vice President, General Merchandise Manager for the furniture and home categories in January 2008. He assumed responsib




Company in May 2003 as Vice President, Divisional Merchandise Manager, Consumables and was promoted to his current role in March 2010. Prior to join




e President of Distribution of Limited Brands, Inc., a retailer, and held a senior position in the distribution department with Neiman-Marcus, Inc., a luxury re




 Operations in April 2005, and was promoted to Vice President, Controller in September 2005. Prior to joining the Company, Mr. Schroeder was Director o




e Company in 2000 as Director of Strategic Planning.
s). The Board would be well served by the perspective provided by Mr. Berger's 14 years of experience as a chief executive of a multibillion dollar company




); and the Chairman and Chief Executive Officer of the Gold Circle / Richway divisions of Federated Department Stores, Inc. (retailer). Mr. Hayes' experien




nd the finance committee), Select Comfort Corporation (where he is a member of the compensation committee and the corporate governance and nomina
s in business administration led to the conclusion that he would continue to be a member of the Board.




 Shoe Corporation (retail and wholesale footwear); and the Vice President, General Merchandise Manager of Dayton Hudson Corporation (retail stores). M
e governance and nominating committee), and Wolverine World Wide, Inc. (where she is the chair of the governance committee and a member of the aud
ously served as a director of Tween Brands, Inc. Mr. Mallott's qualification as an ôaudit committee financial,ö his experience as a certified public accountan




dditionally, Mr. Solt previously served as the Chief Financial Officer of Venture Stores, Inc. (discount retailer) and Williams-Sonoma, Inc. (specialty retailer)




hief Operating Officer of The Sports Authority (sporting goods retailer). Mr. Tener's experience in senior leadership roles of other publicly-traded retailers a




ail consultant). Mr. Tishkoff previously served as the President and Chief Executive Officer of Shoe Corporation of America (footwear retailer). Mr. Tishkoff
                     Source                                                     Company Inform.
Source ident.           Date of inform             Closing Date   Op. Revenue
                                                                   (mil USD)*


                FS                       12/2010       ><                   n.a.

                FS                       12/2010       ><                   n.a.
                FS                       03/2011       ><                   n.a.
                FS                       12/2010       ><                   n.a.
                FS                       03/2011       ><                 8,612
                FS                       12/2010       ><                 1,016
                FS                       03/2011       ><                   n.a.

                FS                       12/2010       ><                 8,953
                FS                       12/2010       ><                56,787
                FS                       12/2010       ><                16,652
                FS                       12/2010       ><                   n.a.
                FS                       12/2010       ><                 1,382
                FS                       12/2010       ><                 2,644
                FS                       12/2010       ><                 3,823
                FS                       12/2010       ><                 3,648

                FS                       12/2010       ><                12,383
                FS                       12/2010       ><                10,256


                FS                       03/2011       n.a.                 n.a.

                FS                       12/2010        -                        -
                FS                       12/2010       ><                   n.a.
                FS                       03/2011       ><                 1,122
FS   03/2011   ><      13,848

FS   12/2010   n.a.      n.a.
FS   12/2010   n.a.      n.a.

FS   12/2010   ><       3,863

FS   03/2011   ><        n.a.
FS   12/2010   ><      39,161
FS   12/2010   ><          4


FS   03/2011    -           -
FS   03/2011   ><      17,732

FS   12/2010   ><     113,505
FS   12/2010   ><        n.a.

FS   12/2010   ><      40,792
FS   12/2010   ><        n.a.

FS   12/2010   n.a.      n.a.

FS   03/2011   ><        n.a.
FS   12/2010   ><       7,036
FS   12/2010   ><        n.a.

FS   12/2010   ><        n.a.

FS   12/2010   ><        952
FS   12/2010   ><      12,498

FS   03/2011    -           -
FS   03/2011   ><      14,064


FS   12/2010   ><        935

FS   12/2010   ><       2,367
FS   03/2011   ><       4,268
FS   12/2010    -           -
FS   12/2010    -           -
FS   03/2011   ><        n.a.

FS   12/2010   ><      84,431
FS   12/2010   ><        n.a.

FS   12/2010   n.a.      n.a.
FS   03/2011   ><        n.a.

FS   03/2011    -           -
FS   03/2011   ><           -
FS   03/2011   ><       1,531
FS   03/2011   ><      34,364
FS   03/2011   ><      11,985

FS   12/2010   ><        n.a.

FS   12/2010   ><        n.a.

FS   12/2010   ><        n.a.

FS   02/2011   ><      11,195

FS   12/2010   ><       4,193

FS   01/2011   ><      32,087
FS   03/2011   ><        n.a.

FS   03/2011    -           -
FS   03/2011    -           -
FS   12/2010   ><        n.a.

FS   03/2011   ><        n.a.

FS   03/2011   ><      19,204
FS   03/2011   ><        n.a.

FS   03/2011   ><        n.a.

FS   12/2010   ><      28,763
FS   03/2011   ><      14,984


FS   12/2010   ><     105,927

FS   12/2010   n.a.      n.a.

FS   12/2010   ><      68,310
FS   03/2011   ><       5,608
FS   03/2011   ><       2,855

FS   12/2010   ><       1,245

FS   03/2011   n.a.      n.a.

FS   12/2010   ><        n.a.

FS   12/2010   ><       3,528
FS   03/2011   ><     102,694
FS   06/2010    -           -
FS   06/2010   n.a.      n.a.

FS   12/2010   ><       3,406
FS   12/2010   n.a.      n.a.

FS   12/2010   ><        n.a.
FS   12/2010   ><      24,296
FS   03/2011   ><     n.a.

FS   12/2010   ><   58,506
FS   12/2010   -         -
led for bankruptcy on November 4, 2004); the Chairman and Chief Executive Officer of Frank's Nursery & Crafts, Inc. (lawn and garden specialty retailer th
tment store retailers, including 25 years of experience in a senior executive role, make Mr. Fishman an excellent choice to continue serving on the Board.




                                                                                                      Salary
                                                                                                      Bonus
                                                                                                      Total S.T.
                                                                                                      compensation
                                                                                                      Other L.T.
                                                                                                      compensation
                                                                                                      Total
                                                                                                      compensation




oted to Executive Vice President in March 2010, and assumed responsibility for loss prevention and risk management. Prior to that Mr. Cooper was promo
 Treasurer.




                                                                                                      Salary
                                                                                                      Bonus
                                                                                                      Total S.T.
                                                                                                      compensation
                                                                                                      Other L.T.
                                                                                                      compensation
                                                                                                      Total
                                                                                                      compensation




romoted to Executive Vice President in March 2010, and assumed responsibility for distribution and transportation services. Ms. Bachman assumed the re
of Ames Department Stores, Inc., a discount retailer which filed for bankruptcy on August 20, 2001.




                                                                                                      Salary
                                                                                                      Bonus
                                                                                                      Total S.T.
                                                                                                      compensation
                                                                                                      Other L.T.
                                                                                                      compensation
                                                                                                      Total
                                                                                                      compensation




ponsibility for real estate in January 2008. Prior to that, he was promoted to Senior Vice President, General Counsel and Corporate Secretary in November




                                                                                                      Salary
                                                                                                      Bonus
                                                                                                        Total S.T.
                                                                                                        compensation
                                                                                                        Other L.T.
                                                                                                        compensation
                                                                                                        Total
                                                                                                        compensation




ailer which filed for bankruptcy on February 2, 2004. Mr. Martin also served as President and Chief Operating Officer of Michaels Stores, Inc., an arts and




                                                                                                        Salary
                                                                                                        Bonus
                                                                                                        Total S.T.
                                                                                                        compensation
                                                                                                        Other L.T.
                                                                                                        compensation
                                                                                                        Total
                                                                                                        compensation




retailer, as its Vice President, General Merchandise Manager, Business Unit President, SHC Home Division. Prior to his time at Sears, Mr. Wurl served Sh




ative Media, an advertising and communications company, and Chief Marketing Officer and Senior Vice President of Montgomery Ward, a retailer.
February 2, 2004. Mr. Martin also served as President and Chief Operating Officer of Michaels Stores, Inc., an arts and crafts retailer, and President, Retai




handise Manager with responsibility for consumables and hardware. Mr. Rankin joined the Company in 1998 as Vice President, Consumables upon the Co




and was promoted to Senior Vice President, General Merchandise Manager for the furniture and home categories in January 2008. He assumed responsib




Company in May 2003 as Vice President, Divisional Merchandise Manager, Consumables and was promoted to his current role in March 2010. Prior to join




e President of Distribution of Limited Brands, Inc., a retailer, and held a senior position in the distribution department with Neiman-Marcus, Inc., a luxury re
 Operations in April 2005, and was promoted to Vice President, Controller in September 2005. Prior to joining the Company, Mr. Schroeder was Director o




e Company in 2000 as Director of Strategic Planning.




s). The Board would be well served by the perspective provided by Mr. Berger's 14 years of experience as a chief executive of a multibillion dollar company




); and the Chairman and Chief Executive Officer of the Gold Circle / Richway divisions of Federated Department Stores, Inc. (retailer). Mr. Hayes' experien
nd the finance committee), Select Comfort Corporation (where he is a member of the compensation committee and the corporate governance and nomina
s in business administration led to the conclusion that he would continue to be a member of the Board.




 Shoe Corporation (retail and wholesale footwear); and the Vice President, General Merchandise Manager of Dayton Hudson Corporation (retail stores). M
e governance and nominating committee), and Wolverine World Wide, Inc. (where she is the chair of the governance committee and a member of the aud




ously served as a director of Tween Brands, Inc. Mr. Mallott's qualification as an ôaudit committee financial,ö his experience as a certified public accountan




dditionally, Mr. Solt previously served as the Chief Financial Officer of Venture Stores, Inc. (discount retailer) and Williams-Sonoma, Inc. (specialty retailer)
hief Operating Officer of The Sports Authority (sporting goods retailer). Mr. Tener's experience in senior leadership roles of other publicly-traded retailers a




ail consultant). Mr. Tishkoff previously served as the President and Chief Executive Officer of Shoe Corporation of America (footwear retailer). Mr. Tishkoff
    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP


  885,550   1,100,567     975,308   1,335,175   1,107,474
  705,293     744,945     735,926   1,096,844     910,668
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
180,257   355,622   239,382   238,331   196,806
 57,536   147,773    42,490    63,686    68,510
   n.a.    84,048      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
 57,536    63,725    42,490    63,686    68,510
 93,899   177,188   100,555    98,739    86,582
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
 93,899   177,188   100,555    98,739    86,582
   n.a.      n.a.      n.a.      n.a.      n.a.
 28,822    30,661    96,337    75,906    41,714
 28,822    30,661    96,337    75,906    41,714
 28,822    30,661    96,337    75,906    41,714
 11,322      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
 17,500    30,661    96,337    75,906    41,714
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.


575,243   484,829   935,990   707,349   638,907
515,023   481,909   444,530   683,437   613,478
 39,240    36,040    40,298    52,239    49,310
 39,240    36,040    40,298    52,239    49,310
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
447,800   359,951   358,055   250,520   205,758
447,800   359,951   358,055   250,520   205,758
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
527,920   464,937   434,851   755,580   716,498
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
 23,692    23,824    28,658    29,524    28,536
504,228   441,113   406,193   726,056   687,962
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
       7       65,996      14,494      54,045      18,827
       7       65,996      14,494      54,045      18,827
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
 -499,944    -445,015    -403,168    -428,947    -376,915
 -499,944    -445,015    -403,168    -428,947    -376,915
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
   60,220       2,920     491,460      23,912      25,429
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
   60,220       2,920     491,460      23,912      25,429
     n.a.        n.a.        n.a.        n.a.        n.a.
   35,108        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.     486,747        n.a.        n.a.
        0           0           0           0           0
   25,112       2,920       4,713      23,912      25,429


1,460,793   1,585,396   1,911,298   2,042,524   1,746,381




    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP


1,014,967     926,924     847,698   1,112,384     990,393
     n.a.        n.a.        n.a.        n.a.        n.a.
 -499,944    -445,015    -403,168    -428,947    -376,915
 -499,944    -445,015    -403,168    -428,947    -376,915
  515,023     481,909     444,530     683,437     613,478
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.




  151,435     240,913     143,045     162,425     155,092
     n.a.        n.a.        n.a.        n.a.        n.a.




    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP


  327,809     324,994     453,958     459,941     525,268
     n.a.          0      140,100        352       71,943
     n.a.          0      140,100        352       71,943
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.          0      140,100        352       71,943

     n.a.        n.a.        n.a.        n.a.        n.a.

  211,457     201,564     189,118     337,368     280,117
  211,457     201,564     189,118     337,368     280,117
  116,352     123,430     124,740     122,221     173,208
       0           0           0           0           0
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.          0       28,245      21,265      38,920
     n.a.          0       28,245      21,265      38,920
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  116,352     123,430      96,495     100,956     134,288
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  3,452      583       2,648       2,643     134,288
 36,391    45,874     39,048      57,009         n.a.
 76,509    76,973     54,799      41,304         n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.


205,451   332,590    157,278     400,681     186,571
204,000   268,000     50,000     295,619     115,281
204,000   268,000     50,000     295,619     115,281
204,000   268,000     50,000     295,619     115,281
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
  1,451    64,590    107,278     105,062      71,290
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.    64,590    107,278     105,062      71,290
   n.a.    64,590    107,278     105,062      71,290
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
  1,451      n.a.        n.a.        n.a.          0
   n.a.      n.a.        n.a.        n.a.        n.a.
  1,451      n.a.        n.a.        n.a.          0
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.          0         n.a.
   n.a.      n.a.        n.a.          0         n.a.


533,260   657,584    611,236     860,622     711,839


927,533   927,812   1,300,062   1,181,902   1,034,542
  1,144     1,121      1,110       1,095       1,078
  1,144     1,121      1,110       1,095       1,078
  1,144     1,121      1,110       1,095       1,078
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
926,389   926,691   1,298,952   1,180,807   1,033,464
  435,970     416,038     407,647     385,612     335,038
     n.a.        n.a.        n.a.        n.a.        n.a.
  435,970     416,038     407,647     385,612     335,038
     n.a.        n.a.        n.a.        n.a.          0
     n.a.        n.a.        n.a.        n.a.          0
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  490,419     510,653     891,305     795,195     698,426
  490,419     510,653     891,305     795,195     698,426
     n.a.        n.a.        n.a.        n.a.          0
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.          0
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.



1,460,793   1,585,396   1,911,298   2,042,524   1,746,381


   16,966      16,162      20,800      19,078      18,869
   16,966      16,162      20,800      19,078      18,869
     n.a.        n.a.        n.a.        n.a.        n.a.




    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP


  204,000     268,000     190,100     295,971     187,224
  204,000     268,000      50,000     295,619     115,281
       0           0      140,100        352       71,943
  927,533     927,812   1,300,062   1,181,902   1,034,542
  175,178     237,339      93,763     220,065     145,510
     n.a.        n.a.        n.a.        n.a.        n.a.




     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
   n.a.      n.a.        n.a.        n.a.        n.a.
204,000   268,000    190,100     295,971     187,224
  1,451      n.a.        n.a.        n.a.          0
533,260   657,584    611,236     860,622     711,839
114,398   112,079    111,000     109,524     107,796
114,398   112,079    111,000     109,524     107,796
   n.a.      n.a.        n.a.        n.a.        n.a.
  1,382     1,652      1,405       1,426       1,425
180,257   355,622    239,382     238,331     196,806
   0.55      1.09        0.53        0.52        0.38
   2.70      3.39        2.15        2.90        2.11
175,178   237,339     93,763     220,065     145,510
927,533   927,812   1,300,062   1,181,902   1,034,542
   8.11      8.28      11.71       10.79         9.60
     0    268,000    201,242     295,971     187,224
   n.a.        0     140,696         352      71,943

   n.a.   268,000        658     100,386         352
   n.a.        0         548         425     100,386
   n.a.        0      50,513         467         425
   n.a.        0         564     185,513         467
   n.a.   268,000      1,206     100,811     100,738

     0         0       8,263       8,828      13,651


   n.a.      n.a.      -2,370      -2,633      -2,977
   n.a.      n.a.      3,841       3,459       3,587
   n.a.      n.a.        726         472         472

   n.a.      n.a.        726         472         472

   n.a.      n.a.        555         472         472

   n.a.      n.a.        472         472         472

   n.a.      n.a.        472         472         472

   n.a.      n.a.      1,281         944         944


   n.a.      n.a.        944         944         944


   n.a.      n.a.        890       1,099       1,227


632,553   578,344    896,736     827,318    1,085,249
144,215   134,959    211,592     194,105     224,804

129,527   115,834    167,824     155,312     194,315
  106,790       97,978      136,076      124,729      159,384

   84,699       73,837      104,475       96,649      127,053

   59,447       53,558       91,343       70,710       95,493

  236,317      213,812      303,900      280,041      353,699


  144,146      127,395      195,818      167,359      222,546


  107,875      102,178      185,426      185,813      284,200




    Cons         Cons      Cons (R)     Cons (R)     Cons (R)
 2/2/2002     2/3/2001    1/29/2000    1/30/1999    1/31/1998
12 months    12 months    12 months    12 months    12 months
  Unqual       Unqual       Unqual       Unqual       Unqual
   th USD       th USD       th USD       th USD       th USD
     10-K         10-K         10-K         10-K         10-K
US GAAP      US GAAP      US GAAP      US GAAP      US GAAP


3,433,321    3,277,088    2,933,690    2,550,668    2,492,839
3,433,321    3,277,088    2,933,690    2,550,668    2,492,839
3,433,321    3,277,088    2,933,690    2,550,668    2,492,839
      n.a.         n.a.         n.a.         n.a.         n.a.
3,433,321    3,277,088    2,933,690    2,550,668    2,492,839
      n.a.         n.a.         n.a.         n.a.         n.a.
-2,010,674   -1,829,055   -1,610,135   -1,421,030   -1,423,048
-2,092,183   -1,891,345   -1,668,623   -1,474,767   -1,502,211
      n.a.         n.a.         n.a.         n.a.         n.a.
-2,092,183   -1,891,345   -1,668,623   -1,474,767   -1,502,211
  -81,509      -62,290      -58,488      -53,737      -79,163
      n.a.         n.a.         n.a.         n.a.         n.a.
-1,368,397   -1,200,277   -1,095,453    -918,699     -903,775
-1,368,397   -1,200,277   -1,095,453    -918,699     -858,775
      n.a.         n.a.         n.a.         n.a.         n.a.
        0            0            0            0      -45,000
        0            0            0            0            0
        0            0            0            0            0
        0            0            0            0            0
   54,250      247,756      228,102      210,939      166,016


  -81,509      -62,290      -58,488      -53,737      -79,163
  -81,509     -62,290     -58,488     -53,737     -79,163
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  -27,259     185,466     169,614     157,202      86,853
     n.a.        n.a.        n.a.        n.a.        n.a.
  -27,259     185,466     169,614     157,202      86,853
     287         n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     287         n.a.        n.a.        n.a.        n.a.
  -20,489     -22,947     -16,447     -15,795     -16,699
  -20,489     -22,947     -16,447     -15,795     -16,699
  -20,202     -22,947     -16,447     -15,795     -16,699
     n.a.        n.a.        n.a.        n.a.        n.a.
  -47,461     162,519     153,167     141,407      70,154
   18,747     -64,195     -60,501     -55,144     -32,983
   18,747     -64,195     -60,501     -55,144     -32,983
  -28,714      98,324      92,666      86,263      37,171
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
    8,480    -478,976       3,444      10,506      48,764
     n.a.        n.a.        n.a.     -12,649        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
    8,480    -478,976       3,444      23,155      48,764
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  -20,234    -380,652      96,110      96,769      85,935


       0           0           0           0           0
       0           0           0           0           0
     n.a.        n.a.        n.a.        n.a.        n.a.




    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP
      n.a.         n.a.         n.a.         n.a.         n.a.


      n.a.         n.a.         n.a.         n.a.         n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.




1,341,138    1,385,743    1,265,067    1,075,901      990,628
      n.a.         n.a.         n.a.         n.a.         n.a.
-3,460,580   -3,091,622   -2,764,076   -2,393,466   -2,405,986
  -20,489      -22,947      -16,447      -15,795      -16,699
      287          n.a.         n.a.         n.a.         n.a.

  -28,714       98,324       92,666       86,263       37,171
  -20,234     -380,652       96,110       96,769       85,935
  -28,714       98,324       92,666       86,263       37,171
      114          111          110          109          108
     -0.25        0.88         0.84         0.79         0.35

     -0.18        -3.42        0.87         0.89         0.80

        0            0            0            0            0
  -20,234     -380,652       96,110       96,769       85,935
      114          112          113          113          112
     -0.25        0.87         0.82         0.77         0.33
     -0.18        -3.38        0.85         0.86         0.77
     0.00         0.00         0.00         0.00         0.00
        0            0            0            0            0
    6,756        4,174       12,263       13,487        2,936

  -26,990     -384,826       83,847       83,282       82,999

     -0.24        -3.45        0.76         0.76         0.77

     -0.24        -3.45        0.74         0.74         0.74

  -20,489      -22,947      -16,447      -15,795      -16,699
    -2,400       -2,817       -1,721         n.a.       -1,386
  -81,509      -62,290      -58,488      -53,737      -79,163
      n.a.         n.a.         n.a.           0       45,000
  -47,461      162,519      153,167      141,407      115,154
      n.a.         n.a.         n.a.           0       21,157

  -18,747       64,195       60,501       55,144       54,140
  -28,714      98,324      92,666      86,263      61,014
  -28,714      98,324      92,666      86,263      61,014
    -0.25        0.88        0.84        0.79        0.57
    -0.25        0.87        0.82        0.77        0.54
 -187,510    -168,496    -156,288    -132,357    -278,340
   91,700        n.a.        n.a.        n.a.        n.a.
    39.06       42.29       43.12       42.18       39.74
    -0.79        5.66        5.78        6.16        3.48
    -1.38        4.96        5.22        5.54        2.81
     n.a.       39.50       39.50       39.00       47.02
    -0.84        3.00        3.16        3.38        1.49
  -27,259     185,466     169,614     157,202     131,853
   54,250     247,756     228,102     210,939     211,016
    5,529      95,090      50,041      53,976        n.a.
     n.a.     -49,751        n.a.        n.a.        n.a.
     820       18,856       4,555       8,702        n.a.
    6,349      64,195      54,596      62,678        n.a.
  -25,096        n.a.       5,905      -7,534        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  -25,096        n.a.       5,905      -7,534        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
  -18,747      64,195      60,501      55,144        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     377         312         n.a.        n.a.        n.a.
       0           0         n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     548         991         n.a.        n.a.        n.a.




    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP
 -20,234   -380,652    96,110    96,769     85,935
 70,137     62,290     58,488    53,737     79,163
    n.a.       n.a.      n.a.       n.a.       n.a.
 70,137     62,290     58,488    53,737     79,163
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
 -20,209   -119,321     7,812    22,289      2,926
    n.a.         0         0     12,649        n.a.
  -8,480   229,134     61,647   -103,864         0
    n.a.       n.a.      n.a.       n.a.       n.a.
  3,103        n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
  8,674      3,781     18,647    15,654     19,879
  3,297    232,915     80,294    -75,561    19,879
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
 39,652        n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
  4,386        n.a.      n.a.       n.a.       n.a.
  -3,599       n.a.      n.a.       n.a.       n.a.
  8,959        n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
 74,700        n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.   -103,166   -54,765   -123,640    -38,376
    n.a.       n.a.      n.a.       n.a.       n.a.
124,098    -103,166   -54,765   -123,640    -38,376


157,089    -307,934   187,939    -26,406   149,527




-107,561   -114,847   -83,068    -82,813   -146,460
    n.a.       n.a.      n.a.       n.a.       n.a.
    n.a.       n.a.      n.a.       n.a.       n.a.
-107,561   -114,847   -83,068    -82,813   -146,460
    n.a.       n.a.      n.a.         0          0
    6,186    257,613        0         0        n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.         0
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      -63     19,465      355      1,029     -4,142
    6,123    277,078      355      1,029     -4,142


 -101,438    162,231   -82,713   -81,784   -150,602




    -6,224      n.a.      n.a.      n.a.     4,390
    -6,224      n.a.      n.a.      n.a.     4,390
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.         0
      n.a.      n.a.      n.a.      n.a.    -21,235
      n.a.      n.a.      n.a.      n.a.    -21,235
      n.a.      n.a.      n.a.      n.a.       n.a.
    -1,138        0         0       n.a.       n.a.
    -1,138        0         0       n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.

   12,353      2,127   10,105     33,314    18,840
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
   11,215      2,127   10,105     33,314     -2,395
      n.a.      n.a.      n.a.      n.a.     1,553
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.     1,553
2,087,319       n.a.      n.a.      n.a.       n.a.
-2,149,800      n.a.      n.a.      n.a.      -442
  -62,481     77,900   -94,900   109,068      -442
      n.a.      n.a.      n.a.      n.a.       n.a.
      n.a.      n.a.      n.a.      n.a.       n.a.
  -62,481     77,900   -94,900   109,068     1,111
  -57,490      80,027     -84,795     142,382       3,106




     n.a.        n.a.        n.a.        n.a.        n.a.


   -1,839     -65,676      20,431      34,192       2,031
   30,661      96,337      75,906      41,714        n.a.
   28,822      30,661      96,337      75,906        n.a.




   70,137      62,290      58,488      53,737      79,163
   19,100      39,718      27,448      26,693      30,437
  -67,589      68,390      40,496      44,614      96,695
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.




    Cons        Cons     Cons (R)    Cons (R)    Cons (R)
 2/2/2002    2/3/2001   1/29/2000   1/30/1999   1/31/1998
12 months   12 months   12 months   12 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD
     10-K        10-K        10-K        10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP


    -5.12       17.52       11.78       11.96        6.78
    -1.38        4.96        5.22        5.54        2.81
    -3.25       10.25        8.01        6.92        4.02
     2.70        3.39        2.15        2.90        2.11
    63.50       58.52       68.02       57.86       59.24
     n.a.        n.a.        n.a.        n.a.        n.a.
2/3/2007   1/28/2006   1/29/2005
   USD         USD         USD




   1.00         1.00        1.00
  25.93       13.37       11.26
  26.36       14.29       15.62
  12.40       10.06       10.62




110,703     110,703     110,703
   0.01         0.01        0.01
  2,871       1,480       1,247
1175.00   1322.00   1312.00




   1.12      n.s.      0.22




   2.03      0.89      1.11
   0.32      0.62      1.22
  42.85     40.02     37.48
   1.52      0.24      0.63
   0.00      0.00      0.00
  10.21      9.74      9.72
   n.a.      n.a.      n.a.
   1.05      1.00      2.22
   n.a.      n.a.      n.a.
2/3/2007   1/28/2006   1/29/2005




  23.14         n.s.      52.46
  23.53         n.s.      72.77
  11.07         n.s.      49.48
  17.30         n.s.      61.12




    4.32        n.s.        1.91
    9.04        n.s.        2.02
    4.25        n.s.        1.37
    5.78        n.s.        1.64




  12.74       15.02       10.12




    0.00        0.00        0.00
    0.00        0.00        0.00
    0.00        0.00        0.00
    0.00        0.00        0.00




    0.00        0.00        0.00




    2.54        1.37        1.16
    2.58        1.47        1.61
    1.21        1.03        1.09
    1.90        1.25        1.35




    2.54        1.37        1.16
4/1/2011   3/25/2011   3/18/2011   3/11/2011   3/4/2011


  43.87       43.87       42.84       43.38      42.13
  42.58       41.27       41.10       40.98      39.77
  43.68       43.55       41.10       43.05      41.00
   34.37       34.02         33.61      33.30         32.89


6,374,899   8,644,345   10,718,274   7,024,284   11,556,681
1,274,980   1,728,869    2,143,655   1,404,857    2,311,336
       5           5            5           5            5


 110,703     110,703      110,703     110,703      110,703


4,835,507   4,821,116    4,549,893   4,765,764    4,538,823




 4/1/2011   3/25/2011    3/18/2011   3/11/2011     3/4/2011




    0.94        0.97         1.04        1.32         1.59
    0.58        0.64         0.86        1.31         2.43
    0.90        0.90         0.91        0.94         0.96
    0.30        0.30         0.31        0.34         0.33
    0.41        0.43         0.54        0.71         0.45
    0.44        0.44         0.44        0.45         0.45




    0.67        0.67         0.70        0.80         0.81
    0.49        0.56         0.69        0.97         1.58
    0.72        0.72         0.73        0.75         0.76
    0.25        0.25         0.25        0.26         0.22
    0.37        0.41         0.48        0.60         0.34
    0.42        0.42         0.43        0.43         0.44




    0.83        0.84         0.99        1.12         1.02
    0.58        0.64         1.04        1.36         1.97
    0.74        0.74         0.84        0.97         0.87
    0.28        0.28         0.31        0.30         0.23
    0.41        0.44         0.64        0.70         0.36
    0.24        0.24         0.27        0.27         0.23




 4/1/2011   3/25/2011    3/18/2011   3/11/2011     3/4/2011
         0.34            0.35            0.35            0.35            0.35
         0.34            0.34            0.36            0.37            0.37
         0.40            0.41            0.41            0.40            0.40
         0.23            0.24            0.25            0.50            0.50
         0.13            0.22            0.24            0.27            0.31




9/2010          8/2010          7/2010          6/2010          5/2010
31.99                           32.70           34.76
32.87           35.07           32.77           35.25
33.15           34.18                           35.21           38.30
                34.45                           34.22           37.64
                32.18                                           37.48
                32.11           32.76                           35.56
32.68                           33.40           32.79           34.91
33.00                           33.02           33.06
32.89           32.13           33.28           32.81
33.05           31.13                           33.79           36.88
                30.74                           33.65           36.69
                30.88           33.29                           37.30
33.17           30.64           34.16                           36.35
33.36                           34.10           34.26           36.09
33.66                           34.72           35.17
33.62           30.50           33.39           34.87
33.53           30.82                           34.85           36.76
                31.27                           34.56           35.99
                31.08           33.59                           36.05
34.17           31.80           34.08                           34.91
33.74                           33.75           34.30           36.27
33.65                           34.56           31.56
33.49           31.75           35.68           32.83
34.29           30.86                           32.30           35.99
                30.48                           32.40           36.10
                30.35           36.16                           35.87
34.09           31.34           35.67                           36.04
34.44                           35.00           32.89           35.33
34.00                           34.17           32.49
33.25   31.01   34.31   32.09
        31.26
rafts, Inc. (lawn and garden specialty retailer that filed for
ellent choice to continue serving on the Board.




               : USD 1,369,231
               : USD 2,769,816
               : USD 4,139,047

               : USD 275,028
             : USD 13,394,075




nagement. Prior to that Mr. Cooper was promoted to Senior




             : USD 490,769
             : USD 494,610
             : USD 985,379

             : USD 716,115

             : USD 2,599,494




rtation services. Ms. Bachman assumed the responsibility




             : USD 490,769
             : USD 494,610
             : USD 985,379
             : USD 724,459

             : USD 2,607,838




Counsel and Corporate Secretary in November 2004. Mr.




             : USD 405,000
             : USD 410,526
             : USD 815,526

             : USD 644,361

             : USD 2,178,287




g Officer of Michaels Stores, Inc., an arts and crafts




             : USD 545,385
             : USD 544,071
             : USD 1,089,456

             : USD 589,179

             : USD 2,217,435
. Prior to his time at Sears, Mr. Wurl served Shopko Stores




sident of Montgomery Ward, a retailer.




an arts and crafts retailer, and President, Retail Stores




8 as Vice President, Consumables upon the Company's
gories in January 2008. He assumed responsibility for the




d to his current role in March 2010. Prior to joining the




partment with Neiman-Marcus, Inc., a luxury retailer.




ng the Company, Mr. Schroeder was Director of Finance of
 chief executive of a multibillion dollar company and his




ment Stores, Inc. (retailer). Mr. Hayes' experience in




tee and the corporate governance and nominating




f Dayton Hudson Corporation (retail stores). Ms.
vernance committee and a member of the audit
ö his experience as a certified public accountant, his service




 and Williams-Sonoma, Inc. (specialty retailer). Mr. Solt's




dership roles of other publicly-traded retailers and prior




 ion of America (footwear retailer). Mr. Tishkoff's experience
Company Inform.
                  Total Assets
                   (mil USD)


                                    n.a.

                                    n.a.
                                    n.a.
                                    n.a.
                                 178,459
                                   2,727
                                    n.a.

                                 160,505
                                 568,312
                                 539,854
                                    n.a.
                                 131,192
                                   8,614
                                    n.a.
                                  83,844

                                 990,681
                                 201,728


                                    n.a.

                                       -
                                    n.a.
                                   1,281
 247,259

     n.a.
     n.a.

 145,631

     n.a.
 911,332
     101


        -
 145,935

 963,264
       5

2,546,303
     n.a.

     n.a.

     n.a.
 162,831
     n.a.

     n.a.

   1,154
 228,965

        -
 132,943


  34,091

   3,642
 223,777
        -
        -
     n.a.

1,258,128
     n.a.

     n.a.
     n.a.

        -
        -
   3,148
1,401,923
 404,044

     n.a.

     n.a.

     n.a.

 428,684

  75,431

1,098,345
     n.a.

        -
        -
     n.a.

     n.a.

 608,112
     n.a.

     n.a.

1,666,388
 180,038


2,264,909

     n.a.

2,454,689
 301,277
  17,883

     948

     n.a.

     n.a.

  20,444
2,117,605
        -
     n.a.

  56,230
     n.a.

     n.a.
 417,353
     n.a.

2,669,939
        -
rafts, Inc. (lawn and garden specialty retailer that filed for
ellent choice to continue serving on the Board.




               : USD 1,369,231
               : USD 2,769,816
               : USD 4,139,047

               : USD 275,028

               : USD 13,394,075




nagement. Prior to that Mr. Cooper was promoted to Senior




               : USD 490,769
               : USD 494,610
             : USD 985,379

             : USD 716,115

             : USD 2,599,494




rtation services. Ms. Bachman assumed the responsibility




             : USD 490,769
             : USD 494,610
             : USD 985,379

             : USD 724,459

             : USD 2,607,838




Counsel and Corporate Secretary in November 2004. Mr.




             : USD 405,000
             : USD 410,526
             : USD 815,526

             : USD 644,361

             : USD 2,178,287




g Officer of Michaels Stores, Inc., an arts and crafts




             : USD 545,385
             : USD 544,071
             : USD 1,089,456

             : USD 589,179

             : USD 2,217,435




. Prior to his time at Sears, Mr. Wurl served Shopko Stores




sident of Montgomery Ward, a retailer.
an arts and crafts retailer, and President, Retail Stores




8 as Vice President, Consumables upon the Company's




gories in January 2008. He assumed responsibility for the




d to his current role in March 2010. Prior to joining the




partment with Neiman-Marcus, Inc., a luxury retailer.
ng the Company, Mr. Schroeder was Director of Finance of




 chief executive of a multibillion dollar company and his




ment Stores, Inc. (retailer). Mr. Hayes' experience in
tee and the corporate governance and nominating




f Dayton Hudson Corporation (retail stores). Ms.
vernance committee and a member of the audit




ö his experience as a certified public accountant, his service




 and Williams-Sonoma, Inc. (specialty retailer). Mr. Solt's
dership roles of other publicly-traded retailers and prior




 ion of America (footwear retailer). Mr. Tishkoff's experience
 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP


1,137,748     682,885     584,932     520,143       449,126       401,932       308,211
  974,940     588,962     484,234     434,635       350,418       292,501       262,140
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.

       0        8,957       5,524        4,865         1,614         1,765        2,291
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
162,808    84,966    95,174    80,643    97,094   107,666    43,780
 55,678     9,965     5,377    15,114    18,111    10,675    10,313
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 55,678     9,965     5,377    15,114    18,111    10,675    10,313
 67,447    54,717    42,767    28,211    21,909    16,376    11,282
     0     18,265    13,999    11,670     9,892     6,987     5,222
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 67,447    36,452    28,768    16,541    12,017     9,389     6,060
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 39,683    20,284    47,030    37,318    57,074    80,615    22,185
 39,683    20,284    47,030    37,318    57,074    80,615    22,185
 39,683    20,284    47,030    37,318    57,074    80,615    22,185
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 39,683    20,284    47,030    37,318    57,074    80,615    22,185
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


577,751   376,002   353,064   317,640   313,573   324,234   324,288
553,590   363,234   339,720   301,668   291,624   312,734   319,556
 46,535    42,895    41,453    32,369    30,701    30,318    30,318
 46,535    42,895    41,453    32,369    30,701    30,318    30,318
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
191,012   232,300   216,790   188,689   190,771   201,191   160,345
191,012   232,300   216,790   188,689   190,771   201,191   160,345
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
633,558   343,246   302,185   251,542   228,813   209,786   158,606
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 21,698    10,002     9,215     9,981     6,212     8,172     8,054
611,860   333,244   292,970   241,561   222,601   201,614   150,552
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.          0           0             0             0             0        3,314
     n.a.          0           0             0             0             0        3,314
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
    1,605      10,324       2,987      15,530            167           197       64,328
    1,605      10,324       2,987      15,530            167           197       64,328
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
 -319,120    -265,531    -223,695    -186,462      -158,828      -128,758       -97,355
 -319,120    -265,531    -223,695    -186,462      -158,828      -128,758       -97,355
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   24,161      12,768      13,344      15,972        21,949        11,500         4,732
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   24,161      12,768      13,344      15,972        21,949        11,500         4,732
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
        0           0           0            0           n.a.          n.a.        n.a.
   24,161      12,768      13,344      15,972        21,949        11,500         4,732


1,715,499   1,058,887     937,996     837,783       762,699       726,166       632,499




 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP


  872,710     628,765     563,415     488,130       450,452       441,492       416,911
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
 -319,120    -265,531    -223,695    -186,462      -158,828      -128,758       -97,355
 -319,120    -265,531    -223,695    -186,462      -158,828      -128,758       -97,355
  553,590     363,234     339,720     301,668       291,624       312,734       319,556
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




  123,125      46,417      34,145      31,655        30,128        20,064        16,373
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP


  574,205     284,508     330,319     237,291       200,987       177,235       153,739
   31,064      10,069      10,063           97       26,420        18,794         1,670
   31,064      10,069      10,063           97       26,420        18,794         1,670
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   31,064        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.

     n.a.      10,069      10,063           97       26,420        18,794         1,670

  335,975     145,825     112,760      94,989        88,216        73,729        63,827
  335,975     145,825     112,760      94,989        88,216        73,729        63,827
  207,166     128,614     207,496     142,205        86,351        84,712        88,242
       0           0       80,500      34,900              0             0       40,000
       0           0       80,500      34,900              0             0       40,000
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   78,453      22,080      31,136      23,123        26,680        22,920         1,341
   78,453      22,080      31,136      23,123        26,680        22,920         1,341
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  128,713     106,534      95,860      84,182        59,671        61,792        46,901
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  2,381   106,534    95,860    84,182    59,671    61,792    46,901
 99,078      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 27,254      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


207,180   154,416    75,562    84,607   127,806   152,373   138,415
155,049   121,435    44,491    53,869   104,475   131,567   118,289
155,049   121,435    44,491    53,869   104,475   131,567   118,289
155,049   121,435    44,491    53,869   104,475   131,567   118,289
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 52,131    32,981    31,071    30,738    23,331    20,806    20,126
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 49,229    25,767    22,471    23,658    23,331    20,806    20,126
 49,229    25,767    22,471    23,658    23,331    20,806    20,126
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
  2,902     7,214     8,600     7,080        0         0         0
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
  2,902     7,214     8,600     7,080        0         0         0
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


781,385   438,924   405,881   321,898   328,793   329,608   292,154


934,114   619,963   532,115   515,885   433,906   396,558   340,345
   917      1,189     1,298     1,290     1,307     1,571     1,566
   917      1,189     1,298     1,290     1,307     1,571     1,566
   917      1,189     1,298     1,290     1,307     1,571     1,566
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
933,197   618,774   530,817   514,595   432,599   394,987   338,779
  322,967     105,023      97,088      91,136        86,607        99,774        97,522
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  322,967     105,023      97,088      91,136        86,607        99,774        97,522
  -32,204      -1,573     -82,081         -827        -8,630     -107,315      -107,315
  -32,204      -1,573     -82,081         -827        -8,630     -107,315      -107,315
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  642,920     515,854     515,616     421,512       354,622       406,670       352,357
  642,920     515,854     515,616     421,512       354,622       406,670       352,357
     -486        -530        194         2,774             0        -4,142       -3,785
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     -486        -530        194         2,774             0        -4,142       -3,785
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.



1,715,499   1,058,887     937,996     837,783       762,699       726,166       632,499


   12,600        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   12,600        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP


  186,113     131,504     135,054      88,866       130,895       150,361       159,959
  155,049     121,435      44,491      53,869       104,475       131,567       118,289
   31,064      10,069      90,563      34,997        26,420        18,794        41,670
  934,114     619,963     532,115     515,885       433,906       396,558       340,345
  146,430     111,220      88,024      51,548        73,821        69,746       137,774
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
186,113   131,504   135,054    88,866   130,895   150,361   159,959
  2,902     7,214     8,600     7,080        0         0         0
781,385   438,924   405,881   321,898   328,793   329,608   292,154
 90,150    98,585    97,237   100,525    99,948   100,563   100,085
 90,150    98,585    97,237   100,525    99,948   100,563   100,085
  1,494      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
  1,233      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
162,808    93,923   100,698    85,508    98,708   109,431    46,071
   0.28      0.33      0.31      0.36      0.49      0.62      0.30
   1.98      2.40      1.77      2.19      2.23      2.27      2.00
146,430   111,220    88,024    51,548    73,821    69,746   137,774
934,114   619,963   532,115   515,885   433,906   396,558   340,345
  10.36      6.29      5.47      5.13      4.34      3.94      3.40
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.


581,125      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
136,407      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.

117,067      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
   96,272          n.a.         n.a.          n.a.          n.a.          n.a.        n.a.

   72,420          n.a.         n.a.          n.a.          n.a.          n.a.        n.a.

   50,210          n.a.         n.a.          n.a.          n.a.          n.a.        n.a.

  213,339          n.a.         n.a.          n.a.          n.a.          n.a.        n.a.


  122,630          n.a.         n.a.          n.a.          n.a.          n.a.        n.a.


  108,749          n.a.         n.a.          n.a.          n.a.          n.a.        n.a.




 Cons (R)     Cons (R)     Cons (R)     Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997     2/3/1996    1/28/1995    1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months    12 months    12 months    12 months     12 months     12 months     12 months
  Unqual       Unqual       Unqual     Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD       th USD       th USD       th USD        th USD        th USD        th USD
     10-K         10-K         10-K          10-K          10-K          10-K         10-K
US GAAP      US GAAP      US GAAP      US GAAP       US GAAP       US GAAP       US GAAP


3,420,164    2,110,950    1,867,137    1,590,071     1,396,589       763,812       679,303
3,420,164    2,110,950    1,867,137    1,590,071     1,396,589       763,812       679,303
3,420,164    2,110,950    1,867,137    1,590,071     1,396,589       763,812       679,303
      n.a.         n.a.         n.a.          n.a.          n.a.          n.a.        n.a.
3,420,164    2,110,950    1,867,137    1,590,071     1,396,589       763,812       679,303
      n.a.         n.a.         n.a.          n.a.          n.a.          n.a.        n.a.
-1,914,172   -1,177,958   -1,013,024    -860,206      -755,393      -455,398      -404,670
-1,980,803   -1,226,194   -1,039,501    -883,891      -774,935      -455,398      -420,186
      n.a.         n.a.         n.a.          n.a.          n.a.          n.a.        n.a.
-1,980,803   -1,226,194   -1,039,501    -883,891      -774,935      -455,398      -420,186
  -66,631      -48,236      -26,477       -23,685       -19,542           n.a.     -15,516
      n.a.         n.a.         n.a.          n.a.          n.a.          n.a.        n.a.
-1,166,918    -731,931     -666,998     -578,729      -545,350      -276,581      -242,902
-1,166,918    -730,225     -655,511     -570,831      -535,092      -270,921      -243,878
        0            0            0             0             0             0            0
        0            0            0             0             0             0           0
        0            0            0             0             0             0         n.a.
        0            0            0             0             0             0            0
        0        -1,706     -11,487        -7,898       -10,258        -5,660         976
  339,074      201,061      187,115      151,136        95,846        31,833        31,731


  -66,631      -48,236      -26,477       -23,685       -19,542           n.a.     -15,516
  -66,631     -48,236     -26,477      -23,685       -19,542           n.a.     -15,516
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  272,443     152,825     160,638     127,451        76,304        31,833        16,215
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  272,443     152,825     160,638     127,451        76,304        31,833        16,215
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  -22,991     -17,992           0            0             0             0       -9,584
  -22,991     -17,992        n.a.          n.a.          n.a.          n.a.      -9,584
  -22,991     -17,992        n.a.          n.a.          n.a.          n.a.      -9,584
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  249,452     134,833     160,638     127,451        76,304        31,833         6,631
  -92,992     -50,141     -63,934      -50,771       -28,690       -12,096       -2,086
  -92,992     -50,141     -63,934      -50,771       -28,690       -12,096       -2,086
  156,460      84,692      96,704      76,680        47,614        19,737         4,545
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  -29,394      -5,727      -2,600       -1,716           844           361         n.a.
       0         n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  -27,538      -5,727      -2,600       -1,716           844           361         n.a.
   -1,856          0           0             0             0           n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
  127,066      78,965      94,104      74,964        48,458        20,098         4,545


       0           0           0             0             0             0           0
       0           0           0             0             0             0           0
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP
      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.


      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.




1,439,361      884,756      827,636      706,180      621,654    308,414    259,117
      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.
-3,147,721   -1,958,125   -1,706,499   -1,462,620   -1,320,285   -731,979   -663,088
  -22,991      -17,992          n.a.         n.a.         n.a.       n.a.     -9,584
      n.a.         n.a.         n.a.         n.a.         n.a.       n.a.       n.a.

  156,460       84,692       96,704       76,680       47,614     19,737      4,545
  127,066       78,965       94,104       74,964       48,458     20,098      4,545
  156,460       84,692       96,704       76,680       47,614     19,737      4,545
      105           98           99          100          100         72         71
     1.49         0.86         0.97         0.77         0.48        0.28       0.06

     1.21         0.80         0.95         0.75         0.48        0.28       0.06

        0            0            0            0            0        n.a.         0
  127,066       78,965       94,104       74,964       48,458     20,098      4,545
      108          101          102          103          103         72         71
     1.44         0.84         0.95         0.74         0.46        0.28       0.06
     1.17         0.79         0.93         0.73         0.47        0.28       0.06
     0.00         0.00         0.00         0.00         0.00        0.00       0.00
        0            0            0            0            0          0          0
    3,799        1,702          n.a.         n.a.         n.a.       n.a.       n.a.

  123,267       77,263          n.a.         n.a.         n.a.       n.a.       n.a.

     1.18         0.79          n.a.         n.a.         n.a.       n.a.       n.a.

     1.14         0.77          n.a.         n.a.         n.a.       n.a.       n.a.

  -22,991      -17,992          n.a.         n.a.         n.a.       n.a.     -9,584
     -258         -227          n.a.         n.a.         n.a.       n.a.       n.a.
  -66,631      -48,236      -26,477      -23,685      -19,542        n.a.    -15,516
        0            0            0            0            0        n.a.         0
  249,452      134,833      160,638      127,451       76,304     31,833      6,631
        0            0            0            0            0        n.a.         0

   92,992       50,141       63,934       50,771       28,690     12,096      2,086
  156,460      84,692      96,704      76,680        47,614        19,737         4,545
  156,460      84,692      96,704      76,680        47,614        19,737         4,545
     1.49        0.86        0.97         0.77          0.48          0.28         0.06
     1.44        0.84        0.95         0.74          0.46          0.28         0.06
 -210,380    -103,011        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
    42.09       41.91       44.33        44.41         44.51         40.38        38.15
     7.97        7.24        8.60         8.02          5.46          4.17         2.39
     7.29        6.39        8.60         8.02          5.46          4.17         0.98
    37.28       37.19       39.80        39.84         37.60         38.00        31.46
     4.58        4.01        5.18         4.82          3.41          2.58         0.67
  272,443     152,825     160,638     127,451        76,304        31,833        16,215
  339,074     201,061     187,115     151,136        95,846        31,833        31,731
   77,195      48,656        n.a.          n.a.          n.a.          n.a.        n.a.
    1,123          0         n.a.          n.a.          n.a.          n.a.        n.a.
   10,540       9,158        n.a.          n.a.          n.a.          n.a.        n.a.
   88,858      57,814        n.a.          n.a.          n.a.          n.a.        n.a.
    4,134      -7,673        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
    4,134      -7,673        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
   92,992      50,141        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP
127,066    78,965     55,220   43,027    37,110    20,098     4,545
 66,631    48,236     26,477   23,685    19,542    16,149    15,516
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 66,631    48,236     26,477   23,685    19,542    16,149    15,516
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
  -6,929    -8,341      256     -2,236     -319     -3,494      300
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 18,900         0         0         0         0         0         0
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 13,005     2,881      3,398    3,031     1,868     1,645       384
 31,905     2,881      3,398    3,031     1,868     1,645       384
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
 -29,634   -76,174   -25,693   -38,081   -23,280   19,435    24,169
    n.a.      n.a.    68,123   24,382    22,509    39,257    31,582
 -29,634   -76,174    42,430   -13,699     -771    58,692    55,751


189,039    45,567    127,781   53,808    57,430    93,090    76,496




-104,784   -74,208   -82,372   -75,359   -55,665   -27,239   -59,726
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.      n.a.      n.a.
-104,784   -74,208   -82,372   -75,359   -55,665   -27,239   -59,726
-185,300        0         0         0         0         0         0
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.        0       473    25,883     2,432        141       148
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
      0     -6,870    -4,781        0         0          0         0
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
 14,915     6,683     -1,973      478     1,036        241       444
-170,385     -187     -6,281   26,361     3,468        382       592


-275,169   -74,395   -88,653   -48,998   -52,197    -26,857   -59,134




  4,817     2,958     3,790     4,607       310       -459         0
  4,817     2,958     3,790     4,607       310       -459         0
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
190,639         0         0         0         0          0         0
 -30,631      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
160,008         0         0         0         0          0         0
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.        0         0         0     -4,500         0      -351
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.

 12,356     3,887    -78,710    1,877     -7,524     1,795    -49,894
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
172,364     3,887    -78,710    1,877    -12,024     1,795    -50,245
      0         0    45,504         0         0    115,000    62,379
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
      0         0    45,504         0         0    115,000    62,379
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
 -71,652    -4,763        0    -76,814   -19,776    -84,139    -1,655
 -71,652    -4,763        0    -41,914   -19,776   -124,139   -18,295
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
    n.a.      n.a.      n.a.      n.a.      n.a.       n.a.      n.a.
 -71,652    -4,763   45,504    -41,914   -19,776     -9,139   44,084
  105,529       2,082     -29,416      -35,430       -31,490        -7,803       -6,161




     n.a.          0           0             0             0             0           0


   19,399     -26,746       9,712      -30,620       -26,257       58,430        11,201
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




   66,631      48,236      26,477      23,685        19,542        16,149        15,516
   24,206      23,154       8,110        6,314         5,775         6,017        6,948
   24,811      58,476      29,613      19,288        19,170          8,082        9,288
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.




 Cons (R)    Cons (R)    Cons (R)    Cons (R)      Cons (R)      Cons (R)         Cons
 2/1/1997    2/3/1996   1/28/1995   1/29/1994     1/30/1993       2/1/1992     2/2/1991
12 months   12 months   12 months   12 months     12 months     12 months     12 months
  Unqual      Unqual      Unqual    Qualif n.a.   Qualif n.a.   Qualif n.a.     Unqual
   th USD      th USD      th USD      th USD        th USD        th USD        th USD
     10-K        10-K        10-K         10-K          10-K          10-K         10-K
US GAAP     US GAAP     US GAAP     US GAAP       US GAAP       US GAAP       US GAAP


    26.70       21.75       30.19        24.71         17.59          8.03         1.95
     7.29        6.39        8.60         8.02          5.46          4.17         0.98
    14.54       12.73       17.13        15.21         10.00          4.38         1.05
     1.98        2.40        1.77         2.19          2.23          2.27         2.00
    54.45       58.55       56.73        61.58         56.89         54.61        53.81
     n.a.        n.a.        n.a.          n.a.          n.a.          n.a.        n.a.
1/31/2004
    USD




     1.00
   14.13
   15.25
   13.64




 110,703
     0.01
   1,564
1351.00




   0.73




   1.53
   1.54
  35.62
   1.10
   0.00
  10.02
   n.a.
   2.49
   n.a.
1/31/2004




   19.50
   21.05
   18.82
   19.93




     5.13
     5.31
     4.75
     5.02




     9.25




     0.00
     0.00
     0.00
     0.00




     0.00




     1.41
     1.52
     1.36
     1.44




     1.41
2/25/2011   2/18/2011   2/11/2011   2/4/2011   1/28/2011   1/21/2011   1/14/2011


   41.55       42.27       41.59      33.99       32.78       32.72       32.32
   39.41       40.66       33.80      31.57       31.69       32.00       30.36
   40.71       41.78       41.57      33.95       31.82       32.52       32.00
   32.59       32.38         32.18      31.91       31.88       31.91       31.91


8,008,225   7,593,507   19,188,626   8,568,851   4,320,596   4,423,241   7,217,410
2,002,056   1,518,701    3,837,725   1,713,770    864,119    1,105,810   1,443,482
       4           5            5           5           5           4           5


 110,703     110,703      110,703     110,703     110,703     110,703     110,703


4,506,719   4,625,171    4,601,924   3,758,367   3,522,569   3,600,062   3,542,496




2/25/2011   2/18/2011    2/11/2011    2/4/2011   1/28/2011   1/21/2011   1/14/2011




    0.98        0.14         0.19       -0.52       -0.61       -0.61       -0.58
    2.03        1.67         1.31        0.43        0.11        0.26       -0.08
    0.94        0.92         0.91        0.85        0.85        0.85        0.84
    0.23        0.03         0.05       -0.21       -0.22       -0.22       -0.22
    0.37        0.24         0.20        0.25        0.04        0.09       -0.02
    0.44        0.43         0.43        0.47        0.47        0.47        0.47




    0.46       -0.13        -0.02       -0.42       -0.49       -0.49       -0.49
    1.05        0.70         0.65        0.35        0.27        0.25       -0.04
    0.74        0.73         0.73        0.68        0.69        0.69        0.69
    0.14       -0.04        -0.01       -0.21       -0.23       -0.23       -0.23
    0.24        0.15         0.14        0.29        0.17        0.14       -0.02
    0.43        0.42         0.42        0.47        0.47        0.47        0.47




    0.83        0.66         0.65        0.42        0.32        0.35        0.40
    1.31        1.00         0.93        0.35        0.10        0.11        0.06
    0.83        0.66         0.65        0.42        0.32        0.35        0.40
    0.21        0.15         0.14        0.19        0.12        0.13        0.14
    0.28        0.18         0.17        0.26        0.05        0.05        0.02
    0.21        0.15         0.14        0.19        0.12        0.13        0.14




2/25/2011   2/18/2011    2/11/2011    2/4/2011   1/28/2011   1/21/2011   1/14/2011
         0.35            0.35            0.35            0.33            0.33            0.33            0.33
         0.36            0.36            0.36            0.26            0.25            0.25            0.26
         0.40            0.38            0.38            0.24            0.25            0.25            0.25
         0.50            0.47            0.47            0.20            0.14            0.15            0.16
         0.25            0.20            0.70            0.29            0.11            0.14            0.17




4/2010          3/2010          2/2010          1/2010          12/2009         11/2009         10/2009
36.82           34.25           28.85                            23.46                           25.55
                33.94           29.29                            23.91           25.23           24.83
                34.57           29.21                            23.54           25.13
                35.66           29.66           28.96            28.08           24.81
37.28           36.09           29.48           28.96                            25.40           25.42
37.43                                           29.34                            25.07           26.42
38.71                                           29.67            28.16                           26.39
38.91           35.98           29.20           29.85            28.62                           26.63
39.22           35.97           29.77                            28.43           25.86           26.34
                35.88           29.67                            28.34           25.60
                35.88           30.28           29.69            28.75           25.80
38.67           35.87           30.61           30.21                            25.28           26.01
38.77                                           31.17                            25.50           26.24
39.96                                           30.73            28.99                           26.63
39.72           35.99                           31.02            29.28                           27.42
39.59           36.54           31.00                            29.23           25.86           27.09
                37.10           31.08                            28.86           25.28
                36.97           31.28                            29.36           25.30
38.88           36.70           31.36           30.99                            24.72           27.78
39.33                                           30.10                            24.15           27.52
39.23                                           30.10            29.53                           26.62
40.42           37.65           31.31           29.59            29.31                           26.72
41.14           37.91           31.33                            29.18           24.04           26.19
                37.24           31.78                            29.32           24.06
                37.36           32.90           29.58                            24.20
40.87           37.51           33.50           29.82                                            26.40
39.56                                           29.22                            24.01           26.00
38.88                                           29.06            29.05                           25.26
39.03           37.32                           28.41            29.40                           25.84
38.20   37.37   29.31   23.06   25.05
        36.42   28.98
    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP


  189,953     183,956     144,631     128,548      66,258     34,910        n.a.
  159,172     140,500     122,495      91,350      48,379     21,073        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.

    2,468       2,339       1,811       4,059       3,241      4,536        n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
 28,313    41,117    20,325   33,139   14,638   9,301   n.a.
 12,820        0       n.a.     n.a.     n.a.    n.a.   n.a.
  8,122        0       n.a.     n.a.     n.a.    n.a.   n.a.
  4,698        0       n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
 12,645     9,605     8,453    3,642    1,648    872    n.a.
  7,352     6,041     3,704    3,642    1,648    872    n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
  5,293     3,564     4,749     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
  2,848    31,512    11,872   29,497   12,990   8,429   n.a.
  2,848    31,512    11,872   29,497   12,990   8,429   n.a.
  2,848    16,764     5,440    4,658    4,398   1,320   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
  2,848    16,764     5,440    4,658    4,398   1,320   n.a.
     0     14,748     6,432   24,839    8,592   7,109   n.a.
     0     14,748     6,432   24,839    8,592   7,109   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.


118,278   102,200   102,534   76,759   13,531   6,365   n.a.
115,549    99,306    99,911   73,658   12,528   5,130   n.a.
  5,232     5,224     5,142    4,997       0       0    n.a.
  5,232     5,224     5,142    4,997       0       0    n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
 46,813    41,353    39,932   53,801    7,029   2,110   n.a.
 46,813    41,353    39,932   53,801    7,029   2,110   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
 93,332    70,571    60,867   12,665    5,268   2,156   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.       0       0    n.a.
 93,332    70,571    60,867   12,665    5,268   2,156   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
   n.a.      n.a.      n.a.     n.a.     n.a.    n.a.   n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
    8,742       9,890       9,890       8,505       2,939      2,158        n.a.
    8,742       9,890       9,890       8,505       2,939      2,158        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.          0         560           0          0         n.a.
     n.a.        n.a.          0         560           0          0         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
  -38,570     -27,732     -15,920      -6,870      -2,708     -1,294        n.a.
  -38,570     -27,732     -15,920      -6,870      -2,708     -1,294        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
    2,729       2,894       2,623       3,101       1,003      1,235        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
    2,729       2,894       2,623       3,101       1,003      1,235        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
    2,729       2,894       2,623       3,101       1,003      1,235        n.a.


  308,231     286,156     247,165     205,307      79,789     41,275        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP


  154,119     127,038     115,831      80,528      15,236      6,424        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
  -38,570     -27,732     -15,920      -6,870      -2,708     -1,294        n.a.
  -38,570     -27,732     -15,920      -6,870      -2,708     -1,294        n.a.
  115,549      99,306      99,911      73,658      12,528      5,130        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    9,991       3,564       4,749        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP


   63,411      75,199      59,286      50,080      28,932     17,868        n.a.
    1,655       1,424       1,307       1,104       1,242      1,010        n.a.
    1,655       1,424       1,307       1,104       1,242      1,010        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.

    1,655       1,424       1,307       1,104       1,242      1,010        n.a.

   44,168      46,991      39,755      38,967      21,027     11,418        n.a.
   44,168      46,991      39,755      38,967      21,027     11,418        n.a.
   17,588      26,784      18,224      10,009       6,663      5,440        n.a.
       0           0           0           0           0       2,325        n.a.
     n.a.        n.a.        n.a.        n.a.          0       2,325        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
       0       12,721       4,869       3,761       2,101      2,113        n.a.
       0       12,721       4,869       3,761       2,101      2,113        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   17,588      14,063      13,355       6,248       4,562      1,002        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
 17,588    14,063    13,355     6,248    4,562    1,002   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.


100,044    59,959    59,885    40,932    3,229   16,981   n.a.
 91,087    53,292    54,727    38,399    2,949   16,981   n.a.
 91,087    53,292    54,727    38,399    2,949   16,981   n.a.
 91,087    53,292    54,727    38,399    2,949   16,981   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
  8,957     6,667     5,158     2,533     280        0    n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
  8,957     6,667     5,158     2,533     280        0    n.a.
  8,957     6,667     5,158     2,533     280        0    n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.


163,455   135,158   119,171    91,012   32,161   34,849   n.a.


144,776   150,998   127,994   114,295   47,628    6,426   n.a.
   455       454       453       451      211       79    n.a.
   455       454       453       451      211       79    n.a.
   444       427       426       418      188       58    n.a.
    11        27        27        33       23       21    n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
144,321   150,544   127,541   113,844   47,417    6,347   n.a.
   83,622      82,891      82,516      81,814      34,846      5,733        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   83,622      82,891      82,516      81,814      34,846      5,733        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   60,699      67,653      45,025      32,030      12,571       614         n.a.
   60,699      67,653      45,025      32,030      12,571       614         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.



  308,231     286,156     247,165     205,307      79,789     41,275        n.a.


     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP


   92,742      54,716      56,034      39,503       4,191     20,316        n.a.
   91,087      53,292      54,727      38,399       2,949     16,981        n.a.
    1,655       1,424       1,307       1,104       1,242      3,335        n.a.
  144,776     150,998     127,994     114,295      47,628      6,426        n.a.
   89,894      23,204      44,162      10,006      -8,799     11,887        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
 92,742    54,716    56,034    39,503    4,191   20,316   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
163,455   135,158   119,171    91,012   32,161   34,849   n.a.
 71,068    70,777    70,625    70,387   65,906   49,750   n.a.
 71,068    70,777    70,625    70,387   65,906   49,750   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
 30,781    43,456    22,136    37,198   17,879   13,837   n.a.
   0.49      0.58      0.37      0.74     0.62     0.77   n.a.
   3.00      2.45      2.44      2.57     2.29     1.95   n.a.
 89,894    23,204    44,162    10,006   -8,799   11,887   n.a.
144,776   150,998   127,994   114,295   47,628    6,426   n.a.
   2.04      2.13      1.81      1.62     0.72     0.13   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.


   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.


   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.


   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.


   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.

   n.a.      n.a.      n.a.      n.a.     n.a.     n.a.   n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.

     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.


     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.


     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP


  608,681     626,557     590,704     397,221     181,101     39,433      48,756
  608,681     626,557     590,704     397,221     181,101     39,433      48,756
  608,681     626,557     590,704     397,221     181,101     39,433      48,756
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
  608,681     626,557     590,704     397,221     181,101     39,433      48,756
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
 -349,012    -360,761    -349,301    -231,143    -103,621    -24,095     -28,821
 -363,782    -373,552    -358,512    -235,505    -105,054    -24,266     -29,154
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
 -363,782    -373,552    -358,512    -235,505    -105,054    -24,266     -29,154
  -14,770     -12,791      -9,211      -4,362      -1,433       -171        -333
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
 -248,249    -209,001    -203,432    -123,616     -57,281    -11,399     -16,478
 -233,442    -211,407    -205,919    -125,691     -57,694    -11,449     -16,621
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
  -16,692          0           0         n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
    1,885       2,406       2,487       2,075        413         50         143
   11,420      56,795      37,971      42,462      20,199      3,939       3,457


  -14,770     -12,791      -9,211      -4,362      -1,433       -171        -333
  -14,770     -12,791      -9,211      -4,362      -1,433       -171        -333
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   -3,350      44,004      28,760      38,100      18,766      3,768       3,124
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   -3,350      44,004      28,760      38,100      18,766      3,768       3,124
   -1,131        677        1,082        430        1,321       -161       3,902
   -1,131        498        1,007        295         841        -184       3,737
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        179          75         135         480         23         165
  -10,034      -7,619      -7,065      -1,885      -1,945       -678      -1,616
  -10,034      -7,619      -7,065      -1,885      -1,945       -678      -1,616
  -11,165      -6,942      -5,983      -1,455        -624       -839       2,286
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
  -14,515      37,062      22,777      36,645      18,142      2,929       5,410
    7,561     -14,434      -9,782     -17,186      -6,185     -1,015      -2,202
    7,561     -14,434      -9,782     -17,186      -6,185     -1,015      -2,202
   -6,954      22,628      12,995      19,459      11,957      1,914       3,208
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
   -6,954      22,628      12,995      19,459      11,957      1,914       3,208


       0           0           0           0           0          0           0
       0           0           0           0           0          0           0
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP
    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.


    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.
    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.
    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.
    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.




244,899    253,005    232,192    161,716     76,047    15,167    19,602
  -1,131       498      1,007        295        841      -184     3,737
-613,162   -582,055   -560,937   -358,826   -161,494   -35,849   -41,895
 -10,034     -7,619     -7,065     -1,885     -1,945     -678     -1,616
    n.a.       179         75        135        480        23       165

  -6,954    22,628     12,995     19,459     11,957     1,914     3,208
  -6,954    22,628     12,995     19,459     11,957     1,914     3,208
  -6,954    22,628     12,995     19,459     11,957     1,914     3,208
     71         71         70         68         60        49        49
   -0.10       0.32       0.18       0.29       0.20     0.04      0.07

   -0.10       0.32       0.18       0.29       0.20     0.04      0.07

      0          0          0          0          0         0         0
  -6,954    22,628     12,995     19,459     11,957     1,914     3,208
     71         71         70         68         60        49        49
   -0.10       0.32       0.18       0.29       0.20     0.04      0.07
   -0.10       0.32       0.18       0.29       0.20     0.04      0.07
    0.00       0.00       0.00       0.00       0.00      0.00      0.00
      0          0          0          0          0         0         0
    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.

    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.

    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.

    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.

 -10,034     -7,619     -7,065     -1,885     -1,945     -678     -1,616
    n.a.       n.a.       n.a.       n.a.       n.a.      n.a.      n.a.
 -14,770    -12,791     -9,211     -4,362     -1,433     -171      -333
 16,692          0          0        n.a.       n.a.      n.a.      n.a.
  2,177     37,062     22,777     36,645     18,142     2,929     5,410
  5,842          0          0        n.a.       n.a.      n.a.      n.a.

  -1,719    14,434      9,782     17,186      6,185     1,015     2,202
    3,896      22,628      12,995      19,459      11,957      1,914       3,208
    3,896      22,628      12,995      19,459      11,957      1,914       3,208
     0.06        0.32        0.18        0.29        0.20       0.04        0.07
     0.06        0.32        0.18        0.29        0.20       0.04        0.07
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
    40.23       40.38       39.31       40.71       41.99      38.46       40.20
    -0.74        7.10        5.04        9.67       10.83       9.09       14.07
    -2.38        5.92        3.86        9.22       10.02       7.43       11.10
     n.a.       38.95       42.95       46.90       34.09      34.65       40.70
    -1.14        3.61        2.20        4.90        6.60       4.85        6.58
   13,342      44,004      28,760      38,100      18,766      3,768       3,124
   28,112      56,795      37,971      42,462      20,199      3,939       3,457
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP
 -6,954   22,628    12,995    19,459    11,957    1,914    3,208
14,770    12,791     9,211     4,362     1,433      171      333
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
14,770    12,791     9,211     4,362     1,433      171      333
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   561     2,694     -2,124    2,253       280     -312      300
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.   1,841    1,056
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
 1,193       732       243        17        30       12       45
 1,193       732       243        17        30    1,853    1,101
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
-25,505   -13,237    -1,073   -40,744   -17,438   -3,350     196
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
-25,505   -13,237    -1,073   -40,744   -17,438   -3,350     196


-15,935   25,608    19,252    -14,653    -3,738     276    5,138




-32,004   -13,722   -35,950   -65,877    -8,828   -1,809   -3,253
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
-32,004   -13,722   -35,950   -65,877    -8,828   -1,809   -3,253
   n.a.      n.a.      n.a.      n.a.      n.a.     n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   165       533       823     -1,730      199     2,007     -814
   165       533       823     -1,730      199     2,007     -814


-31,839   -13,189   -35,127   -67,607    -8,629      198    -4,067




   530       223       n.a.        0     -6,000   -13,498       0
   530       223       n.a.        0     -6,000   -13,498       0
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.        0         0    47,208    35,245         0        0
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.        0         0    47,208    35,245         0        0
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.

   n.a.      n.a.      126       n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.        0       126    47,208    35,245         0        0
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
     0         0    50,000    38,546     7,919    14,465        0
 -1,614    -1,318     -489     -3,234   -21,719    -2,180    -927
38,026     -1,318   16,531    35,312    -13,800   12,285     -927
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
   n.a.      n.a.      n.a.      n.a.      n.a.      n.a.     n.a.
38,026     -1,318   16,531    35,312    -13,800   12,285     -927
   38,556      -1,095      16,657      82,520      15,445     -1,213        -927




     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.


   -9,218      11,324        782         260        3,078       -739        144
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




   14,770      12,791       9,211       4,362       1,433       171         333
   12,617       8,344       4,858        n.a.        n.a.       n.a.        n.a.
    9,288       6,675      10,042        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.




    Cons        Cons        Cons        Cons        Cons       Cons        Cons
 2/3/1990   1/28/1989   1/30/1988   1/31/1987    2/1/1986   2/2/1985   9/30/1984
12 months   12 months   12 months   12 months   12 months   4 months   12 months
  Unqual      Unqual      Unqual      Unqual      Unqual     Unqual      Unqual
   th USD      th USD      th USD      th USD      th USD     th USD      th USD
     10-K        10-K        10-K        10-K        10-K       10-K        10-K
US GAAP     US GAAP     US GAAP     US GAAP     US GAAP     US GAAP    US GAAP


   -10.03       24.54       17.80       32.06       38.09      45.58        n.a.
    -2.38        5.92        3.86        9.23       10.02       7.43       11.10
    -4.71       12.95        9.22       17.85       22.74       7.10        n.a.
     3.00        2.45        2.44        2.57        2.29       1.95        n.a.
    46.97       52.77       51.78       55.67       59.69      15.57        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.       n.a.        n.a.
1/7/2011   12/31/2010   12/23/2010   12/17/2010   12/10/2010   12/3/2010   11/26/2010


  30.80         30.69        30.60        29.55        29.42      31.20         31.50
  30.25         29.82        29.02        27.82        28.22      29.18         29.03
  30.51         30.46        30.27        29.55        28.42      29.50         30.92
   32.00         32.10        32.23        32.39        32.62        32.87        33.05


7,650,848    4,681,245    5,575,394    9,952,155    9,187,570   13,419,952   10,112,737
1,530,170     936,249     1,393,849    1,990,431    1,837,514    2,683,990    2,528,184
       5            5            4            5            5            5             4


 110,703      110,703      110,703      110,703      110,703      110,703      110,703


3,377,549    3,372,013    3,350,980    3,271,274    3,146,179    3,265,739    3,422,937




 1/7/2011   12/31/2010   12/23/2010   12/17/2010   12/10/2010    12/3/2010   11/26/2010




   -0.58        -0.49        -0.28        -0.20        -0.17        -0.09         0.22
    0.86         0.62        -0.45        -0.43        -0.34        -0.86        -1.37
    0.84         0.83         0.83         0.83         0.83         0.83         0.84
   -0.22        -0.20        -0.12        -0.09        -0.08        -0.04         0.11
    0.18         0.20        -0.16        -0.20        -0.17        -0.41        -0.50
    0.47         0.47         0.47         0.47         0.47         0.40         0.40




   -0.53        -0.46        -0.28        -0.21        -0.17        -0.06         0.18
   -0.07         0.16        -0.67        -0.56        -0.38        -0.70        -1.00
    0.68         0.68         0.68         0.68         0.68         0.70         0.70
   -0.25        -0.23        -0.15        -0.11        -0.10        -0.04         0.11
   -0.02         0.06        -0.29        -0.30        -0.22        -0.40        -0.45
    0.47         0.47         0.47         0.47         0.47         0.41         0.41




    0.39         0.53         0.52         0.57         0.86         0.58          n.a.
    0.15         0.50         0.52         0.57         0.86         0.58          n.a.
    0.39         0.59         0.52         0.60         0.64         0.84          n.a.
    0.14         0.18         0.18         0.23         0.37         0.91          n.a.
    0.04         0.17         0.18         0.23         0.37         0.91          n.a.
    0.14         0.22         0.20         0.28         0.30         0.15          n.a.




 1/7/2011   12/31/2010   12/23/2010   12/17/2010   12/10/2010    12/3/2010   11/26/2010
         0.33            0.33            0.34   0.34   0.34   n.a.   n.a.
         0.26            0.27            0.27   0.29   0.29   n.a.   n.a.
         0.30            0.32            0.31   0.31   0.30   n.a.   n.a.
         0.24            0.30            0.29   0.29   0.36   n.a.   n.a.
         0.09            0.10            0.20   0.19   0.31   n.a.   n.a.




9/2009          8/2009          7/2009
24.92                           21.06
24.57                           20.32
24.75           23.07
24.81           23.00
                23.63
                23.89           20.00
                24.76           19.79
25.04                           20.42
25.66                           19.99
25.93           24.38           19.76
25.76           24.30
                23.95
                23.64           20.44
25.55           23.29           20.73
25.08                           20.89
25.03                           21.13
24.92           22.53           21.60
25.02           23.15
                23.21
                23.00           22.05
25.16           23.81           21.59
25.18                           22.09
24.46                           23.11
23.76           24.03           22.82
23.80           25.60
                26.37
                25.75           22.79
24.12           25.79           23.02
24.43                           23.07
25.02           23.00
        25.42   23.04
11/19/2010   11/12/2010   11/5/2010   10/29/2010   10/22/2010   10/15/2010   10/8/2010


     30.27        30.57      31.62         33.96        33.75        34.00      33.62
     29.26        29.57      28.84         31.00        32.91        32.51      32.47
     29.40        29.82      30.12         31.37        33.50        33.12      33.17
     33.30        33.69        34.01        34.32        34.50        34.63      34.75


 8,544,280    8,207,902   15,528,426    8,672,001    6,218,026    8,030,957   8,214,690
 1,708,856    1,641,580    3,105,685    1,734,400    1,243,605    1,606,191   1,642,938
         5            5            5            5            5            5           5


  110,703      110,703      110,703      110,703      110,703      110,703     110,703


 3,254,668    3,301,163    3,334,374    3,472,753    3,708,551    3,666,483   3,672,018




11/19/2010   11/12/2010    11/5/2010   10/29/2010   10/22/2010   10/15/2010   10/8/2010




     0.39         0.47         0.54         0.93         0.98         1.10        1.08
    -0.66        -1.14        -0.82         0.27         0.46         0.72        0.94
     0.88         0.91         0.92         1.00         0.99         1.02        1.02
     0.21         0.25         0.26         0.50         0.54         0.59        0.62
    -0.29        -0.38        -0.33         0.15         0.31         0.40        0.64
     0.42         0.43         0.44         0.49         0.49         0.50        0.50




     0.36         0.41         0.46         0.75         0.79         0.90        0.91
    -0.42        -0.79        -0.65         0.13         0.32         0.53        0.72
     0.74         0.76         0.77         0.83         0.83         0.84        0.85
     0.23         0.27         0.27         0.50         0.53         0.59        0.63
    -0.23        -0.33        -0.32         0.09         0.27         0.37        0.62
     0.43         0.44         0.45         0.50         0.50         0.51        0.51




      n.a.         n.a.         n.a.         n.a.         n.a.         n.a.        n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.         n.a.        n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.         n.a.        n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.         n.a.        n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.         n.a.        n.a.
      n.a.         n.a.         n.a.         n.a.         n.a.         n.a.        n.a.




11/19/2010   11/12/2010    11/5/2010   10/29/2010   10/22/2010   10/15/2010   10/8/2010
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
10/1/2010   9/24/2010   9/17/2010   9/10/2010   9/3/2010   8/27/2010   8/20/2010


   34.55       34.44       33.79       33.51      33.80       32.31       31.98
   32.67       33.23       33.03       32.66      30.65       30.04       30.04
   33.44       34.29       33.53       33.05      33.15       31.34       31.80
   34.84       34.93       34.90       34.83       34.75         34.63      34.53


6,049,561   4,897,869   5,049,601   3,540,611   7,050,159   13,335,793   7,561,232
1,209,912    979,574    1,009,920    885,153    1,410,032    2,667,159   1,512,246
        5           5           5           4           5            5           5


 110,703     110,703     110,703     110,703     110,703      110,703     110,703


3,701,908   3,796,006   3,711,871   3,658,734   3,669,805    3,469,432   3,520,355




10/1/2010   9/24/2010   9/17/2010   9/10/2010    9/3/2010    8/27/2010   8/20/2010




    1.11        1.01        1.14        1.14        1.12         1.03        1.03
    1.15        1.21        1.03        0.99        1.03         0.86        1.17
    1.02        1.02        1.01        1.01        1.01         1.00        1.01
    0.63        0.58        0.58        0.60        0.62         0.59        0.62
    0.78        0.80        0.69        0.66        0.52         0.38        0.55
    0.50        0.49        0.49        0.49        0.49         0.48        0.47




    0.97        0.86        0.97        0.97        0.95         0.85        0.86
    0.96        1.05        0.88        0.83        0.87         0.72        0.92
    0.85        0.85        0.84        0.84        0.83         0.82        0.83
    0.65        0.60        0.59        0.62        0.63         0.60        0.63
    0.79        0.82        0.70        0.68        0.54         0.40        0.54
    0.51        0.51        0.50        0.50        0.50         0.49        0.49




     n.a.        n.a.        n.a.        n.a.        n.a.         n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.         n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.         n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.         n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.         n.a.        n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.         n.a.        n.a.




10/1/2010   9/24/2010   9/17/2010   9/10/2010    9/3/2010    8/27/2010   8/20/2010
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
8/13/2010   8/6/2010   7/30/2010   7/23/2010   7/16/2010   7/9/2010   7/2/2010


   32.63      35.25       36.48       35.68       34.80      33.66      33.60
   30.02      31.28       33.55       33.01       33.03      32.31      31.72
   30.64      32.11       34.31       35.68       33.39      33.28      32.77
   34.46       34.47       34.39       34.22       34.00       33.87         33.72


7,886,771   8,013,540   6,351,324   5,072,988   5,644,954   6,645,526   11,167,632
1,577,354   1,602,708   1,270,265   1,014,598   1,128,991   1,661,382    2,233,526
        5           5           5           5           5           4            5


 110,703     110,703     110,703     110,703     110,703     110,703      110,703


3,391,940   3,554,673   3,798,220   3,949,883   3,696,373   3,684,196    3,627,737




8/13/2010    8/6/2010   7/30/2010   7/23/2010   7/16/2010    7/9/2010     7/2/2010




    1.05        1.16        1.13        1.12        1.10        1.08         1.13
    1.34        1.35        0.98        1.15        1.12        1.00         1.14
    1.01        1.02        1.00        1.00        1.00        0.96         0.99
    0.63        0.70        0.75        0.74        0.72        0.70         0.69
    0.64        0.65        0.69        0.61        0.56        0.55         0.63
    0.48        0.48        0.48        0.48        0.47        0.46         0.47




    0.87        0.96        0.94        0.93        0.92        0.90         0.93
    1.07        1.18        0.88        1.00        1.01        0.89         0.95
    0.83        0.84        0.82        0.82        0.82        0.79         0.81
    0.63        0.70        0.74        0.74        0.73        0.71         0.70
    0.63        0.67        0.72        0.63        0.58        0.57         0.63
    0.49        0.49        0.49        0.49        0.48        0.47         0.48




     n.a.        n.a.        n.a.        n.a.        n.a.        n.a.         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.        n.a.         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.        n.a.         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.        n.a.         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.        n.a.         n.a.
     n.a.        n.a.        n.a.        n.a.        n.a.        n.a.         n.a.




8/13/2010    8/6/2010   7/30/2010   7/23/2010   7/16/2010    7/9/2010     7/2/2010
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
n.a.   n.a.   n.a.   n.a.   n.a.   n.a.   n.a.
6/25/2010   6/18/2010   6/11/2010


   35.10       35.34       34.46
   31.27       33.74       32.16
   32.40       34.56       33.65
     33.56      33.28       32.94


16,550,141   9,852,260   8,608,368
 3,310,028   1,970,452   1,721,674
         5           5           5


  110,703     110,703     110,703


 3,586,777   3,825,896   3,725,156




 6/25/2010   6/18/2010   6/11/2010




     1.18        1.11        1.11
     1.10        0.96        1.06
     1.01        0.94        0.93
     0.70        0.75        0.75
     0.65        0.78        0.84
     0.48        0.45        0.45




     0.95        0.91        0.90
     0.86        0.78        0.85
     0.82        0.75        0.73
     0.70        0.75        0.75
     0.64        0.78        0.83
     0.48        0.45        0.44




      n.a.        n.a.        n.a.
      n.a.        n.a.        n.a.
      n.a.        n.a.        n.a.
      n.a.        n.a.        n.a.
      n.a.        n.a.        n.a.
      n.a.        n.a.        n.a.




 6/25/2010   6/18/2010   6/11/2010
n.a.   n.a.   n.a.
n.a.   n.a.   n.a.
n.a.   n.a.   n.a.
n.a.   n.a.   n.a.
n.a.   n.a.   n.a.
       Company Name            P/B   ROE (3yr AVG)   P/E     P/S   Rev (YoY)
Costco Wholesale Corporation    3.14    12.52%       26.83    0.44   9.13%
      Dollar Tree, Inc.         5.27    24.28%       20.09    1.30 12.45%
    Gordmans Stores, Inc.       6.01       n/a       18.71    0.60 12.98%
    Dollar General Corp.        2.78       n/a       18.13    0.87 10.50%
  Family Dollar Stores, Inc.    4.76    22.62%       19.77    0.81   6.30%
    99 Cents Only Stores        2.09     6.76%       19.38    1.00   5.07%
  The TJX Companies, Inc.       6.22    44.62%       15.02    0.87   8.15%
          Average               4.33    22.16%       19.70    0.84   9.23%

       Big Lots, Inc.           2.52    22.86%       11.39    0.49   4.77%
EBITD Margin
    3.68%
   13.42%
    5.46%
   11.64%
    9.50%
   10.18%
   12.13%
    9.43%

   8.80%
                                1996           1997        1998        1999        2000        2001
Revenue                    2,110,950     3,420,164 2,492,839     2,550,668   2,933,690   3,277,088
COGS                   -   1,177,958 -   1,914,172 - 1,423,048 - 1,421,030 - 1,610,135 - 1,829,055
Gross Profit                 932,992     1,505,992 1,069,791     1,129,638   1,323,555   1,448,033
 Revenue Growth                             61.42%     -28.96%       5.59%      17.17%       9.40%
 COGS Margin                 44.20%         44.03%      42.91%      44.29%      45.12%      44.19%

SGA                    -    730,225 -    1,166,918 -    858,775 -    918,699 - 1,095,453 - 1,200,277
EBITDA                      202,767        339,074      211,016      210,939     228,102     247,756
 EBITDA Growth                              67.22%      -37.77%       -0.04%       8.14%       8.62%
 EBITDA Margin                9.61%          9.91%        8.46%        8.27%       7.78%       7.56%

Non-recurring                   -              -  -      45,000           -            -               -
Deprieciation         -      48,236 -      66,631 -      79,163 -     53,737 -     58,488    -     62,290
Amortization                    -              -             -            -            -               -
EBIT                        154,531       272,443        86,853      157,202      169,614         185,466
  EBIT Growth                              76.30%       -68.12%       81.00%        7.90%           9.35%
  EBIT Margin                 7.32%         7.97%         3.48%        6.16%        5.78%           5.66%
Financial Revenue                -             -             -            -            -               -
Financial Expense            17,992        22,991        16,699       15,795       16,447          22,947
Net Financial Expense        17,992        22,991        16,699       15,795       16,447          22,947
EBT                         136,539       249,452        70,154      141,407      153,167         162,519
Income Tax Provision -       50,141 -      92,992 -      32,983 -     55,144 -     60,501    -     64,195
Extraordinary items   -       5,727 -      29,394        48,764       10,506        3,444    -    478,976
Net profit                   80,671       127,066        85,935       96,769       96,110    -    380,652
    Net Growth                             57.51%       -32.37%       12.61%       -0.68%        -496.06%
    Net Margin                3.82%         3.72%         3.45%        3.79%        3.28%         -11.62%


Inventory                   588,962        974,940       910,668    1,096,844     735,926          744,945
Accounts Recievable           8,957            -             -            -           -                -
Prepaid Expenses             54,717         67,447        86,582       98,739     100,555          177,188
Cash                         20,284         39,683        41,714       75,906      96,337           30,661
ST Investment                   -              -             -            -           -                -
Other Current Assets          9,965         55,678        68,510       63,686      42,490          147,773
Current Assets              682,885      1,137,748     1,107,474    1,335,175     975,308        1,100,567

PPE                         363,234       553,590       613,478      683,437      444,530         481,909
Goodwill
Deferred Tax                    -             -             -            -            -               -
Other fixed assets           12,768        24,161        25,429       23,912      491,460           2,920
LT Assets                   376,002       577,751       638,907      707,349      935,990         484,829

Total Assets               1,058,887     1,715,499     1,746,381    2,042,524    1,911,298       1,585,396


Trade Creditors             145,825       335,975       280,117      337,368      189,118         201,564
Loans                         10,069       31,064      71,943         352     140,100         -
Income Tax                    22,080       78,453      38,920      21,265      28,245         -
Taxes                            -         27,254         -        41,304      54,799      76,973
Accrued Comp                     -         99,078         -        57,009      39,048      45,874
Accrued Op Exps                  -            -           -           -           -           -
Other Accrued liabilities    106,534        2,381     134,288       2,643       2,648         583
Insurance                        -            -           -           -           -           -
Bankruptcy Lease ob              -            -           -           -           -           -
Other Current                    -            -           -           -           -           -
Current Liabilities          284,508      574,205     525,268     459,941     453,958     324,994

Total LT Interest Bearing Debt121,435     155,049     115,281     295,619      50,000     268,000
Insurance Reserves                -           -           -           -           -           -
Deferred Rent                     -           -           -           -           -           -
Deferred Taxes                 25,767      49,229      71,290     105,062     107,278      64,590
Other                           7,214       2,902         -           -           -           -
Tax benefits                      -           -           -           -           -           -
LT Liabilities                154,416     207,180     186,571     400,681     157,278     332,590

Total Liabilities            438,924      781,385     711,839     860,622     611,236     657,584

Equity                       619,963      934,114    1,034,542   1,181,902   1,300,062    927,812
Retained Earnings            515,854      642,920      698,426     795,195     891,305    510,653




Shares Outstanding           102,115      108,603     111,604     112,522     113,071     112,619
EPS                              0.79         1.17        0.77        0.86        0.85       -3.38
Book Value                       6.07         8.60        9.27       10.50       11.50        8.24
Price
Market Cap
P/E
P/B


                                                                           -5.73771499 -3.43239009
Operating Leases        n.a.               581,125 1,085,249       827,318     896,736     578,344
5+year                  n.a.               108,749     284,200     185,813     185,426     102,178
Rental Expenses        -     103,011 -     210,380 - 278,340 - 132,357 - 156,288 -         168,496
                                                    -0.2564757 -0.15998322 -0.17428541 -0.29134218
PV of OL                     824,088     1,683,040 2,226,720     1,058,856   1,250,304   1,347,968
Interest Expense              33,994        69,425      91,852      43,678      51,575      55,604
5yr Ratio                                   18.71%      26.19%      22.46%      20.68%      17.67%

NOA                         1,555,271    2,763,584   3,406,772   2,460,823   2,644,129   2,513,119
                                            77.69%      23.27%     -27.77%       7.45%      -4.95%
NFO                          935,308     1,829,470   2,372,230   1,278,921   1,344,067   1,585,307
                                    95.60%        29.67%      -46.09%        5.09%     17.95%
CSE                    619,963     934,114     1,034,542    1,181,902    1,300,062    927,812

Operating Income       188,525     341,868      223,705      200,880      221,189     241,070
Interest Expense        51,986      92,416      108,551       59,473       68,022      78,551

RNOA                   12.12%      12.37%         6.57%        8.16%        8.37%      9.59%
  PM                    8.93%      10.00%         8.97%        7.88%        7.54%      7.36%
  ATO                     1.36        1.24          0.73         1.04         1.11       1.30
NBC                     5.56%       5.05%         4.58%        4.65%        5.06%      4.95%

FLEV                      1.51        1.96          2.29         1.08         1.03       1.71
SPREAD                  6.56%       7.32%         1.99%        3.51%        3.30%      4.64%
TAX                    36.72%      37.28%        47.02%       39.00%       39.50%     39.50%
ROCE                   18.39%      21.36%         8.98%       10.48%       10.43%     14.39%


OCF                    121,741     218,673      187,903       97,234      242,704 -   204,768
Stock-based comp
Changes in WC      -    76,174 -    29,634 -     38,376 -    123,640 -     54,765 -   103,166
CFO                     45,567     189,039      149,527 -     26,406      187,939 -   307,934

Capex              -    74,208 -   104,784 -    146,460 -     82,813 -     83,068 -   114,847

FCF                -    28,641      84,255        3,067 -    109,219      104,871 -   422,781

CFI                -    74,395 -   275,169 -    150,602 -     81,784 -     82,713     162,231

Dividends                  -           -            -            -            -           -
Share Repurchase           -       160,008 -     21,235          -            -           -
CFF                      2,082     105,529        3,106      142,382 -     84,795      80,027

COGS/Inventory             2.0         2.0           1.6          1.3          2.2        2.5
                         182.5       185.9         233.6        281.7        166.8      148.7
COGS/Payables              8.1         5.7           5.1          4.2          8.5        9.1
                          45.2        64.1          71.8         86.7         42.9       40.2
Cash Cycle               137.3       121.8         161.7        195.1        124.0      108.4
          2002          2003        2004          2005            2006          2007        2008
    3,433,321     3,868,550   3,942,653     4,149,252       4,429,905     4,743,048   4,656,302
-   2,010,674 -   2,236,633 - 2,292,123 -   2,462,114 -     2,698,239 -   2,851,616 - 2,815,959
    1,422,647     1,631,917   1,650,530     1,687,138       1,731,666     1,891,432   1,840,343
       -1.75%        14.71%       1.14%         2.22%           2.64%         9.23%      -2.70%
       41.44%        42.18%      41.86%        40.66%          39.09%        39.88%      39.52%

-   1,368,397 -   1,400,986 - 1,439,444 -   1,518,589 -     1,596,136 -   1,622,339 - 1,515,379
       54,250       230,931     211,086       168,549         135,530       269,093     324,964
      -78.10%      325.68%       -8.59%       -20.15%         -19.59%        98.55%      20.76%
        1.58%         5.97%       5.35%         4.06%           3.06%         5.67%       6.98%

          -             -            -            -               -           -             -
-     81,509 -      85,690 -     88,960 -     99,362    -    108,657 -   101,279 -      88,484
          -             -            -            -               -           -             -
-     27,259       145,241      122,126       69,187          26,873     167,814       236,480
    -114.70%      -632.82%      -15.91%      -43.35%         -61.16%     524.47%        40.92%
      -0.79%         3.75%        3.10%        1.67%           0.61%       3.54%         5.08%
         287           843        1,061          618             313       3,257         5,236
      20,489        20,954       16,443       24,845           6,272         581         2,513
      20,202        20,111       15,382       24,227           5,959 -     2,676 -       2,723
-     47,461       125,130      106,744       44,960          20,914     170,490       239,203
      18,747 -      49,397 -     20,833 -     13,528    -      5,189 -    57,872 -      88,023
       8,480            -  -      5,691 -      7,669    -     25,813      11,427         7,281
-     20,234        75,733       80,220       23,763    -     10,088     124,045       158,461
     -94.68%      -474.29%        5.92%      -70.38%        -142.45%   -1329.63%        27.74%
      -0.59%         1.96%        2.03%        0.57%          -0.23%       2.62%         3.40%


     705,293        776,210      829,569      895,016        836,092        758,185    747,942
         -              -            -            -              -              -          -
      93,899         61,221       65,779       73,845         78,539         60,292     53,178
      28,822        167,008      181,503        2,521          1,710        281,657     37,131
         -              -            -            -              -              -          -
      57,536         63,582       57,452       63,400         77,413         48,913     52,859
     885,550      1,068,021    1,134,303    1,034,782        993,754      1,149,047    891,110

     515,023       532,900      621,998      648,741         584,083       505,647      481,366

      35,108        17,766       20,060       12,820          18,609        45,057      51,524
      25,112        23,074       24,182       37,241          29,051        20,775      19,815
     575,243       573,740      666,240      698,802         631,743       571,479     552,705

    1,460,793     1,641,761    1,800,543    1,733,584       1,625,497     1,720,526   1,443,815


     211,457       119,813      161,884      149,777         169,952       193,996      260,272
        -            -           -            -            -           -           -
        -            -           -            -            325      28,022      36,541
     76,509      107,177      92,486      102,118      107,126      93,706      65,260
     36,391       45,525      29,543       20,860       25,171      43,515      37,531
        -         49,032      56,642       58,792       60,270      58,815      62,978
      3,452       25,673      13,836          -            -           -           -
        -         63,177      37,011       45,255       46,474      43,518      37,762
        -            -        24,281       32,498       27,205      12,660         -
        -            -           -          3,213          -           -           -
    327,809      410,397     415,683      412,513      436,523     474,232     500,344

    204,000      204,000     204,000      159,200        5,500         -       163,700
        -            -           -         35,955       42,037      44,238      45,092
        -            -           -         39,533       42,288      37,801      35,955
        -            -           -            -            -           -           -
      1,451        1,183      72,081       10,893       20,425      34,552      34,885
        -            -           -            -            -           -        25,353
    205,451      205,183     276,081      245,581      110,250     116,591     304,985

    533,260      615,580     691,764      658,094      546,773     590,823     805,329

    927,533    1,026,181    1,108,779   1,075,490    1,078,724    1,129,703    638,486
    490,419      566,976      643,605     667,368      657,280      781,325    937,571




    112,411      116,512     117,971      113,157      112,089     111,752     102,897
       -0.18         0.65        0.68         0.21        -0.09        1.11        1.54
        8.25         8.81        9.40         9.50         9.62       10.11        6.21




  -3.37343608 -3.17802539 -4.07715107 -3.837697429 -3.333416041 -3.09106785 -2.8452614
      632,553      664,541     822,606     863,551      806,070     739,844    669,490
      107,875      105,483     121,222     151,639      128,971      85,969     61,203
-     187,510 -    209,105 -   201,760 -   225,018 -    241,815 -   239,349 - 235,300
  -0.29643366   -0.3146608 -0.2452693 -0.260572913 -0.299992556 -0.32351279 -0.3514616
    1,500,080    1,672,840   1,614,080   1,800,144    1,934,520   1,914,792  1,882,400
       61,878       69,005      66,581      74,256       79,799      78,985     77,649
       17.05%       15.87%      14.74%      17.56%       16.00%      11.62%      9.14%

  2,567,683    2,718,247    2,725,296   3,019,493    2,998,425    2,717,781   2,595,931
      2.17%        5.86%        0.26%      10.80%       -0.70%       -9.36%      -4.48%
  1,640,150    1,692,066    1,616,517   1,944,003    1,919,701    1,588,078   1,957,445
      3.46%         3.17%       -4.46%       20.26%       -1.25%      -17.27%     23.26%
    927,533     1,026,181    1,108,779    1,075,490    1,078,724    1,129,703    638,486

     34,619      214,246      188,707      143,443      106,672      246,799     314,129
     82,080       89,116       81,963       98,483       85,758       76,309      74,926

     1.35%         7.88%        6.92%        4.75%        3.56%        9.08%     12.10%
     1.01%         5.54%        4.79%        3.46%        2.41%        5.20%      6.75%
       1.34          1.42         1.45         1.37         1.48         1.75       1.79
     5.00%         5.27%        5.07%        5.07%        4.47%        4.81%      3.83%

         1.77        1.65         1.46         1.81         1.78         1.41       3.07
      -3.66%       2.62%        1.85%       -0.32%       -0.91%        4.28%      8.27%
     39.50%       39.48%       19.52%       30.09%       24.81%       33.94%     36.80%
     -2.56%       10.49%        9.10%        4.35%        2.34%       13.05%     28.13%


     32,991      218,067      194,945      141,292      110,843      219,380     252,397

    124,098       12,322 -      6,126 -     70,031      102,122      162,097      55,535
    157,089      230,389      188,819       71,261      212,965      381,477     307,932

-   107,561 -    110,110 -    170,175 -    135,291 -     68,503 -     35,878 -    60,360

     49,528      120,279       18,644 -     64,030      144,462      345,599     247,572

-   101,438 -    104,172 -    177,891 -    127,756 -     66,702 -     30,421 -    58,764

        -            -            -            -            -            -           -
        -            -            -   -     75,000          -   -    148,309 -   712,546
-    57,490       11,352        3,011 -    114,987 -    147,074 -     71,109 -   493,694

         2.9          2.9          2.8          2.8          3.2          3.8        3.8
       128.0        126.7        132.1        132.7        113.1         97.0       96.9
         9.5         18.7         14.2         16.4         15.9         14.7       10.8
        38.4         19.6         25.8         22.2         23.0         24.8       33.7
        89.6        107.1        106.3        110.5         90.1         72.2       63.2
          2009        2010        2011
    4,645,283 4,726,772     4,952,244
-   2,787,854 - 2,807,466 - 2,939,793
    1,857,429 1,919,306     2,012,451
        0.93%       3.33%       4.85%
       39.99%      40.61%      40.64%

-   1,523,882 - 1,532,356 - 1,571,900
      333,547     386,950     440,551
        2.64%      16.01%      13.85%
        7.18%       8.19%       8.90%

          -        12,964    -      4,600
-     78,624 -     74,904    -     78,606
          -            -               -
     254,923      325,010         357,345
       7.80%       27.49%           9.95%
       5.49%        6.88%           7.22%
           65         175             612
       5,282        1,840           2,573
       5,217        1,665           1,961
     249,706      323,345         355,384
-     94,908 -    121,975    -    132,837
-      3,251 -      1,001    -          23
     151,547      200,369         222,524
      -4.36%       32.22%          11.06%
       3.26%        4.24%           4.49%


     736,616       731,337         762,146
         -             -               -
      45,275        51,012          50,252
      34,773       283,733         177,539
         -             -               -
      54,207        56,884          61,782
     870,871     1,122,966       1,051,719

     490,041      491,256         524,906

      53,763       28,136           6,666
      17,783       27,135          36,308
     561,587      546,527         567,880

    1,432,458    1,669,493       1,619,599


     235,973      309,862         302,818
      61,700         -           -
      21,398      18,993      25,215
      66,525      69,388      75,401
      40,460      47,402      43,433
      45,693      52,519      53,771
         -           -           -
      38,303      39,570      37,741
       5,043       4,786       3,552
         -           -           -
     515,095     542,520     541,931

         -           -           -
      45,197      44,695      46,145
      29,192      31,490      42,037
         -           -           -
      39,277      20,799      23,551
      28,852      28,577      19,142
     142,518     125,561     130,875

     657,613     668,081     672,806

      774,845   1,001,412     946,793
    1,088,984   1,289,353   1,511,877




      81,917      82,797       78,630
         1.85        2.42         2.83
         9.46       12.09        12.04
                                 33.41
                            2,627,041
                               11.81x
                                2.77x


  -2.830768972 -2.7031966 -2.87149329
       671,900    687,604     751,711
        51,473     45,449      68,585
-      237,356 - 254,367 -    261,784
  -0.353260902 -0.3699324 -0.34825086
     1,898,848 2,034,936    2,094,272
        78,327     83,941      86,389
         7.66%      6.61%       9.12%

    2,646,857   2,724,479   2,856,860
        1.96%       2.93%       4.86%
    1,872,012   1,723,067   1,910,067
     -4.36%        -7.96%     10.85%
    774,845     1,001,412    946,793

    333,250      395,987     448,334
     83,544       85,606      88,350

    12.59%        14.53%     15.69%
     7.17%         8.38%      9.05%
       1.76          1.73       1.73
     4.46%         4.97%      4.63%

       2.42          1.72       2.02
     8.13%         9.57%     11.07%
    38.01%        37.72%     37.38%
    24.76%        24.79%     29.68%


    250,456      293,841     346,814

-    39,393       98,185 -    31,557
    211,063      392,026     315,257

-    88,735 -     78,708 -   107,563

    122,328      313,318     207,694

-    88,192 -     77,937 -   114,552

        -            -           -
-    37,156 -      1,737 -   350,823
-   125,229 -     65,129 -   306,899

        3.8           3.8        3.9
       96.4          95.1       94.6
       11.8           9.1        9.7
       30.9          40.3       37.6
       65.5          54.8       57.0
18.00%


16.00%


14.00%


12.00%


10.00%


 8.00%


 6.00%


 4.00%


 2.00%


 0.00%
         2001   2002   2003   2004   2005   2006
                                          2.00


                                          1.80


                                          1.60


                                          1.40


                                          1.20

                                                 ATO
                                          1.00
                                                 RNOA

                                          0.80   PM


                                          0.60


                                          0.40


                                          0.20


                                          0.00
2006   2007   2008   2009   2010   2011
Summary

BIG                            LFY        MRQ
Price (in $)                         33.41                  P/B
Shares Out. (m)                     78.63                   P/E
Market Cap (m)                   2,627.04       2,627.04    P/EBIT
Debt (inc. Operating leases)    2,094,272      2,094,272    P/FCF
Cash                                177.54         283.90   P/S
Enterprise Value                2,096,722      2,096,615    EV/EBIT
                               LFY         TTM
Revenue                             4,952            4944   Revenue
EBIT                                  357             354   EBIT
Net Income                            223             219   Net Income
FCF (OCF-CAPEX)                       162             162
                               LFY         MRQ
Assets                              1,620          1,758    ROA
NOA                                 2,857             -     RNOA
Equity                                947          1,007    ROE
                                      2012           2013
EPS Mean Estimate                    2.91           3.30    Gross Margin
Revenue Mean Estimate               5,086          5,384    Op Margin
EBIT Mean Estimate                    359            393    Net Margin
No. Of Brokers                          18
Buy recommendations                      6
                               LFY         3yr AVG
EBIT/Interest Expense               4.02x          3.60x    Dividend
NFO/CSE                             2.02x          2.05x
LFY            TTM
      2.77x    2.61x
     11.81x   11.99x
      7.35x    7.43x
     16.22x
      0.53x    0.53x
   5867.50x 5929.88x
3yr CAGR 5yr CAGR
      2.16%    0.87%
      2.85%   16.07%
      3.02%   12.05%

LFY            3yr AVG
      13.74%        12.11%
      15.69%        14.27%
      23.81%        21.03%
LFY            3yr AVG
      0.00%         40.62%
      0.00%          1.48%
      0.00%          0.68%


LFY            Yield
        0.00           0.00%
Assumptions (RI Input on Calc page)
                                      Core Assumptions
                              Base       Worst      Best
               Discount Rate:        10%        10%        10%
             Terminal Shares:     78,630    78,630      78,630
        Terminal Growth Rate:      1.00%      0.50%      1.50%


DCF Assumptions


                                      Historical
                     2006       2007        2008      2009        2010   CAGR/AVG
 Revenue Growth:      9.23%      -2.70%       0.93%     3.33%      4.85%      0.87%
 Operating Margin:    6.16%       5.78%       5.66%    -0.79%      3.75%      4.11%
    Tax Rate:        33.94%      36.80%      38.01%    37.72%     37.38%    36.77%
   Payout Ratio:     -67.6%     -282.3%      -14.8%     -0.6%    -101.2%     -93.3%
      D&A:            2.14%       1.90%       1.69%     1.58%      1.59%      1.78%
      Capex:         -0.76%      -1.30%      -1.91%    -1.67%     -2.17%     -1.56%




RI Assumptions (Input in Calc sheet)

                                     Historical
                        2006      2007        2008       2009      2010 CAGR/AVG
Revenue Growth:        9.23%    -2.70%       0.93%      3.33%     4.85%      0.87%
Op. Profit Growth:   524.47%    40.92%       7.80%     27.49%     9.95%     12.68%
  NOA Growth:          -9.36%   -4.48%    1.96%    2.93%    4.86%   1.00%
 Net Debt Growth:     -17.27%   23.26%   -4.36%   -7.96%   10.85%   3.76%
Financial Expense :     4.81%    3.83%    4.46%    4.97%    4.63%   4.54%
                                Projections
                            Base Case
                     2011     2012       2013      2014     2015
Revenue Growth:       2.70%    6.00%       3.00%    3.00%    3.00%   -1.00%
Operating Margin:     7.05%    7.30%       7.30%    7.30%    6.80%   -0.50%
   Tax Rate:         36.77% 36.77%        36.77%   36.77%   36.77%
  Payout Ratio:        0.0%     0.0%        0.0%     0.0%     0.0%
     D&A:             1.78%    1.78%       1.78%    1.78%    1.78%
     Capex:          -1.56%   -1.56%      -1.56%   -1.56%   -1.56%
                            Worst Case
Revenue Growth:       3.85%    2.85%       1.85%    0.85%   -0.15%   -1.00%
Operating Margin:     3.25%    2.75%       2.25%    1.75%    1.25%   -0.50%
   Tax Rate:         35.00% 35.00%        35.00%   35.00%   35.00%
  Payout Ratio:        0.0%     0.0%        0.0%     0.0%     0.0%
     D&A:             1.78%    1.78%       1.78%    1.78%    1.78%
     Capex:          -1.56%   -1.56%      -1.56%   -1.56%   -1.56%
                            Best Case
Revenue Growth:       4.35%    3.85%       3.35%    2.85%    2.35%   -0.50%
Operating Margin:     4.00%    4.25%       4.25%    4.25%    4.25%    0.25%
   Tax Rate:         35.00% 35.00%        35.00%   35.00%   35.00%
  Payout Ratio:        0.0%     0.0%        0.0%     0.0%     0.0%
     D&A:             1.78%    1.78%       1.78%    1.78%    1.78%
     Capex:          -1.56%   -1.56%      -1.56%   -1.56%   -1.56%




                            Projections
                            Base Case
                       2011      2012      2013     2014     2015
Revenue Growth:       2.00%     2.00%     2.00%    2.00%    2.00%
Op. Profit Growth:    2.00%     2.00%     2.00%    2.00%    2.00%
  NOA Growth:         3.00%     3.00%     3.00%    3.00%    3.00%
 Net Debt Growth:     6.00%     6.00%     6.00%    6.00%    6.00%
Financial Expense :   5.50%     5.50%     5.50%    5.50%    5.50%
                             Worst Case
                        2011     2012       2013     2014     2015
 Revenue Growth:       0.00%    0.00%      0.00%    0.00%    0.00%
Op. Profit Growth:    -2.00%   -2.00%     -2.00%   -2.00%   -2.00%
  NOA Growth:          4.00%    4.00%      4.00%    4.00%    4.00%
 Net Debt Growth:      6.00%    6.00%      6.00%    6.00%    6.00%
Financial Expense :    6.50%    6.50%      6.50%    6.50%    6.50%
                             Base Case
                        2011     2012      2013     2014     2015
 Revenue Growth:       4.00%    4.00%     4.00%    4.00%    4.00%
Op. Profit Growth:     6.00%    6.00%     6.00%    6.00%    6.00%
  NOA Growth:          4.00%    4.00%     4.00%    4.00%    4.00%
 Net Debt Growth:      6.00%    6.00%     6.00%    6.00%    6.00%
Financial Expense :    5.50%    5.50%     5.50%    5.50%    5.50%
Financial Statements and Projections
                   Inputs
                Assumptions
                                                                   Historical
Income Statement                        2007          2008          2009           2010

Revenue                        $    4,743,048     ########      ########       ########
COGS                          -     2,851,616   - 2,815,959   - 2,787,854    - 2,807,466
Gross Profit                        1,891,432     1,840,343     1,857,429      1,919,306
  Revenue Growth                         9.2%         -2.7%          0.9%           3.3%
  COGS Margin                           39.9%         39.5%         40.0%          40.6%
SGA                           -     1,622,339   - 1,515,379   - 1,523,882    - 1,532,356
EBITDA                                269,093       324,964       333,547        386,950
Non-recurring                              -             -             -          12,964
Deprieciation                 -       101,279   -    88,484   -    78,624    - 74,904
Amortization                               -             -             -              -
EBIT                                  167,814       236,480       254,923        325,010
  EBIT Growth                        524.47%         40.92%         7.80%         27.49%
  Operating Margin                      6.16%         5.78%         5.66%         -0.79%
Financial Revenue                       3,257         5,236             65           175
Financial Expense                         581         2,513         5,282          1,840
Net Financial Expense         -         2,676   -     2,723         5,217          1,665
EBT                                   170,490       239,203       249,706        323,345
Income Tax Provision          -        57,872   -    88,023   -    94,908    - 121,975
Extraordinary                          11,427         7,281   -     3,251    -     1,001
Net profit                            124,045       158,461       151,547        200,369
    Net Growth                     -1329.63%         27.74%        -4.36%         32.22%
    Net Margin                          3.79%         3.28%       -11.62%         -0.59%
Dividends                                  -             -             -              -
Other                                      -             -             -              -

IS: Additional Data

Operating Profit                     246,799       314,129       333,250        395,987
Financial Expense                     76,309        74,926        83,544         85,606
  As a % of Revenue                    1.61%         1.61%         1.80%          1.81%
EBIT/Interest Expense                  2.23x         3.19x         2.99x          3.78x

IS: Assumptions

Revenue Growth                          9.2%        -2.7%           0.9%          3.3%
Operating Margin                       6.16%        5.78%          5.66%        -0.79%
Tax Rate                              33.94%       36.80%         38.01%        37.72%
Payout Ratio                            0.0%         0.0%           0.0%          0.0%

Balance Sheet                           2007          2008           2009          2010

Inventory                            758,185       747,942       736,616        731,337
Cash                                 281,657        37,131        34,773        283,733
Prepaid Expenses                          60,292      53,178      45,275      51,012
ST Investment                                -           -           -           -
Current Assets                         1,149,047     891,110     870,871   1,122,966
PPE                                      505,647     481,366     490,041     491,256
Goodwill                                     -           -           -           -
Other                                     20,775      19,815      17,783      27,135
Assets                                 1,720,526   1,443,815   1,432,458   1,669,493
Trade Creditors                          193,996     260,272     235,973     309,862
Loans                                        -           -        61,700         -
Accrued Liabilites                        58,815      62,978      45,693      52,519
Accrued Comp                              43,515      37,531      40,460      47,402
Taxes                                    121,728     101,801      87,923      88,381
Bankruptcy Lease                          12,660         -         5,043       4,786
Current Liabilities                      474,232     500,344     515,095     542,520
Total LT Interest Bearing Debt               -       163,700         -           -
Deferred Rent                             37,801      35,955      29,192      31,490
Deferred Taxes                               -        25,353      28,852      28,577
Total Liabilities                        590,823     805,329     657,613     668,081
Equity                                 1,129,703     638,486     774,845   1,001,412

BS: Additional Data

Operating Leases                         739,844   669,490   671,900   687,604
  Appropriate Multiple                     8.00x
  5yr Ratio                               11.62%     9.14%     7.66%     6.61%
Rental Expenses                    -     239,349 - 235,300 - 237,356 - 254,367
PV of Operating Leases                 1,914,792 1,882,400 1,898,848 2,034,936
Interest Expense                       78,985.17 77,649.00 78,327.48 83,941.11

Net Working Capital                      449,199     387,161     409,447     316,768
Operating Assets                       3,332,886   3,269,269   3,278,750   3,393,561
Cash                                     281,657      37,131      34,773     283,733
Debt                                         -       163,700      61,700         -

NOA                                    2,717,781   2,595,931   2,646,857 2,724,479
 NOA Growth                               -9.36%      -4.48%       1.96%     2.93%
NFO                                    1,588,078   1,957,445   1,872,012 1,723,067
 NFO Growth                              -17.27%      23.26%      -4.36%    -7.96%
CSE                                    1,129,703     638,486     774,845 1,001,412

BS: Assumptions

Operating WC                            449,199     387,161     409,447     316,768
 As a % of Revenue                        9.47%       8.31%       8.81%       6.70%

Cash Flow Statement                         2007        2008        2008        2009

Operating Cash Flow                     219,380     252,397     250,456     293,841
Noncash stock-based compensation            -           -           -           -
D&A                                     101,279      88,484      78,624      74,904
WC Changes                          162,097      55,535 -    39,393      98,185
Capex                         -      35,878 -    60,360 -    88,735 -    78,708
Cash Return                   -     148,309 -   712,546 -    37,156 -     1,737

CF: Assumptions

D&A                                 101,279    88,484    78,624          74,904
  As a % of Revenue                   2.14%     1.90%     1.69%           1.58%
Capex                         -      35,878 -  60,360 -  88,735 -        78,708
  As a % of Revenue                  -0.76%    -1.30%    -1.91%          -1.67%
Cash Return                   -     148,309 - 712,546 -  37,156 -         1,737
  As a % of OCF                     -67.60% -282.31%    -14.84%          -0.59%

Per Share/Returns Data                 2006        2007        2008        2009

Shares Outstanding                  111,752   102,897     81,917    82,797
  Growth                                       -7.92%    -20.39%     1.07%
Book Value                    $       10.11 $     6.21 $     9.46 $ 12.09
EPS                           $        1.11 $     1.54 $     1.85 $    2.42

RNOA                                  9.08%     12.10%      12.59%      14.53%
   PM                                 5.20%      6.75%       7.17%       8.38%
   ATO                                1.75x      1.79x       1.76x       1.73x
NBC                                   4.81%      3.83%       4.46%       4.97%


FLEV                                  1.41x      3.07x       2.42x       1.72x
SPREAD                                4.28%      8.27%       8.13%       9.57%
ROCE                                  9.97%     23.68%      19.98%      19.30%
ROA                                   7.21%     10.98%      10.58%      12.00%

Quarterly Data


                              Q1/09           Q2/09     Q3/09     Q4/09
Sales                         $     1,141,656 ######## ######## ########
COGS                                  679,476   652,184   617,278   858,528
Gross                                 462,180   434,383   417,991   604,752

SGA                                 382,682     367,781     365,194     416,699
D&A                                  19,215      18,949      18,184      18,556
Operating profit                     60,283      47,653      34,613     169,497
Gain on sale of real estate                                  12,964
Financial Expense                       321         506         507         506
Financial Income                          6          19          14         136
Tax expense (benefit)                23,658      18,550      16,828      62,939
Net profit from continuing           36,310      28,616      30,256     106,188
Loss from Discontinued                   -79        -173          73        -822
Net Income                           36,231      28,443      30,329     105,366
Diluted shares       82,324     81,623       82,733   83,147
Diluted Eps      $     0.44 $     0.35 $       0.37 $   1.28

Comps                 -0.5%      -2.4%        -0.2%       0.7%
Stores                 1345       1350         1368       1361
                 $   848.81 $   804.86 $     756.78 $ 1,075.15

                                      8.0%

                                      6.0%

                                      4.0%

                                      2.0%

                                      0.0%
                                                Q1/09    Q2/09
                                     -2.0%

                                     -4.0%

                                     -6.0%
Historical                                                Projections (Base Case)
                    2011 TTM                   2012        2013         2014      2015       2016

               ########      $ 4,944,356 $ 5,085,955 $5,391,112     ######### ########   ########
             - 2,939,793    - 2,939,731                                                             2.98%
               2,012,451     $ 2,004,625
                    4.9%                      2.70%      6.00%         3.00%    3.00%      3.00%
                   40.6%
             - 1,571,900    - 1,570,887
                 440,551     $ 433,738
             -     4,600
             - 78,606       -    80,170
                      -
                 357,345        353,568     358,560     393,551      405,358   417,518   400,589
                   9.95%                      0.34%       9.76%        3.00%     3.00%    -4.05%    2.24%
                   3.75%                      7.05%       7.30%        7.30%     7.30%     6.80%
                     612            381
                   2,573          2,568
                   1,961          2,187
                 355,384        351,381
             - 132,837      -   132,301 -   131,844 -   144,710 -    149,052 - 153,523 - 147,298
             -         23            17
                 222,524        219,097     226,716     248,841      256,306   263,995   253,291
                  11.06%                      1.88%       9.76%        3.00%     3.00%    -4.05%    2.24%
                   1.96%                      4.46%       4.62%        4.62%     4.62%     4.30%
                      -
                      -




                448,334
                 88,350
                  1.78%
                  4.02x




                  4.9%                        2.7%        6.0%          3.0%     3.0%       3.0%
                 3.75%                       7.05%       7.30%         7.30%    7.30%      6.80%
                37.38%                      36.77%      36.77%        36.77%   36.77%     36.77%
                  0.0%                       0.00%       0.00%         0.00%    0.00%      0.00%

                    2011 MRQ                   2012        2013         2014      2015       2016

                762,146         784,865
                177,539         283,895
   50,252       51,136
      -            -
1,051,719    1,183,102
  524,906      521,925
      -            -
   36,308       44,795
1,619,599    1,757,822
  302,818      372,425
      -            -
   53,771       60,270
   43,433       24,222
  100,616      112,637
    3,552        3,452
  541,931      610,854
      -            -
   42,037       44,924
   19,142       18,221
  672,806      751,006
  946,793    1,006,816




  751,711

     9.12%
- 261,784
 2,094,272
 86,388.72

  358,572
3,500,024
  177,539
      -

2,856,860
    4.86%
1,910,067
   10.85%
  946,793




  358,572
    7.24%

      2010 MRQ              2011      2012      2013      2014      2015

  346,814                449,091   489,514   504,200   519,326   505,451
      -
   78,606                 90,531    95,963    98,842   101,807   104,862
- 31,557
- 107,563                -    79,342 -    84,103 -    86,626 -   89,224 -   91,901
- 350,823                        -           -           -          -          -




   78,606
    1.59%                     1.78%       1.78%       1.78%      1.78%      1.78%
- 107,563
   -2.17%                     -1.56%      -1.56%      -1.56%     -1.56%     -1.56%
- 350,823
 -101.16%                     0.00%       0.00%       0.00%      0.00%      0.00%

     2010 MRQ                   2011        2012        2013       2014       2015

  78,630
  -5.03%
$ 12.04
$    2.83

   15.69%
    9.05%
    1.73x
    4.63%


    2.02x
   11.07%
   23.81%
   13.74%




Q1/10     Q2/10       Q3/10       Q4/10      Q1/11
 ######## $ 1,142,309 $ 1,055,830 $1,518,943 #########
  733,207     679,884     627,723    898,979    733,145
  501,955     462,425     428,107    619,964    494,129

  392,780     380,374        381,620     421,726     387,167
   19,100      18,848         19,584      21,074      20,664
   90,075      63,203         26,903     177,164      86,298

      506         503            756         808         501
      343         177             51          41         112
   33,914      24,098          8,453      66,372      33,378
   55,998      38,779         17,745     110,025      52,531
      -100          98            -51          30         -60
   55,898      38,877         17,694     110,055      52,471
            80,932      79,467      76,369      75,369      75,266
        $     0.69 $      0.49 $      0.23 $      1.46         0.70

            6.0%          3.8%        0.7%       2.5%        -3.6%
            1367          1374        1398       1367         1405
        $ 903.56 $      831.37 $    755.24 $ 1,111.15 $     873.50




Q2/09       Q3/09   Q4/09   Q1/10    Q2/10     Q3/10     Q4/10   Q1/11
                  Projections (Worst Case)                                                   Projections (Best Case)
       2012        2013        2014      2015           2016                     2012        2013

    ######## ########       ########     ######## $5,425,790             $ 5,167,818 $ 5,366,937
                                                                1.08%

      3.85%      2.85%        1.85%        0.85%      -0.15%                   4.35%       3.85%




    167,376     145,702      121,463      95,330      68,061                  206,940     228,331
    -53.16%     -12.95%      -16.64%     -21.51%     -28.60%   -16.47%        -42.09%      10.34%
      3.25%       2.75%        2.25%       1.75%       1.25%                    4.00%       4.25%




-    58,582 -    50,996 -     42,512 -    33,366 -    23,821             -     72,429 -    79,916

    108,794      94,706       78,951      61,965      44,240                  134,511     148,415
    -44.90%     -12.95%      -16.64%     -21.51%     -28.60%   -16.47%       -268.49%      10.34%
      2.12%       1.79%        1.47%       1.14%       0.82%                    2.60%       2.77%




       3.9%       2.9%         1.9%         0.9%      -0.1%                     4.4%        3.9%
       3.3%       2.8%         2.3%         1.8%       1.3%                     4.0%        4.3%
      35.0%      35.0%        35.0%        35.0%      35.0%                    35.0%       35.0%
       0.0%       0.0%         0.0%         0.0%       0.0%                     0.0%        0.0%

       2012        2013         2014         2015       2016                     2012        2013
   2011      2012      2013      2014      2015      2011      2012

258,924   239,862   217,368   192,053   164,642   298,929   323,864

 91,548    94,160    95,905    96,723    96,581    91,989    95,533
-   80,233 -   82,522 -   84,051 -   84,768 -   84,644   -   80,619 -   83,725
       -          -          -          -          -            -          -




    1.78%      1.78%      1.78%      1.78%      1.78%        1.78%      1.78%

    -1.56%     -1.56%     -1.56%     -1.56%     -1.56%       -1.56%     -1.56%

    0.00%      0.00%      0.00%      0.00%      0.00%        0.00%      0.00%

      2011       2012       2013       2014       2015         2011       2012
Projections (Best Case)
             2014           2015        2016

      $ 5,546,893 $ 5,705,149 $ 5,839,395
                                               2.47%

           3.35%          2.85%       2.35%




         235,987      242,720        248,431
           3.35%        2.85%          2.35%   3.72%
           4.25%        4.25%          4.25%




     -    82,596 -        84,952 -    86,951

         153,392      157,768        161,480
           3.35%        2.85%          2.35%   3.72%
           2.77%        2.77%          2.77%




            3.4%           2.9%        2.4%
            4.3%           4.3%        4.3%
           35.0%          35.0%       35.0%
            0.0%           0.0%        0.0%

             2014           2015        2016
   2013      2014      2015

334,723   344,273   352,374

 98,736   101,553   103,943
-   86,533 -   89,002 -   91,096
       -          -          -




    1.78%      1.78%      1.78%

    -1.56%     -1.56%     -1.56%

    0.00%      0.00%      0.00%

      2013       2014       2015
Common Size Statments
                                  2007          2008          2009          2010          2011
Revenue                  $   4,743,048 $   4,656,302 $   4,645,283 $   4,726,772 $   4,952,244
COGS                    -    2,851,616 -   2,815,959 -   2,787,854 -   2,807,466 -   2,939,793
Gross Profit                 1,891,432     1,840,343     1,857,429     1,919,306     2,012,451

SGA                     -    1,622,339 -   1,515,379 -   1,523,882 -   1,532,356 -   1,571,900
EBITDA                         269,093       324,964       333,547       386,950       440,551
Non-recurring                      -             -             -          12,964 -       4,600
Deprieciation           -      101,279 -      88,484 -      78,624 -      74,904 -      78,606
Amortization                       -             -             -             -             -
EBIT                           167,814       236,480       254,923       325,010       357,345

Financial Revenue                3,257         5,236            65           175           612
Financial Expense                  581         2,513         5,282         1,840         2,573
Net Financial Expense   -        2,676 -       2,723         5,217         1,665         1,961
EBT                            170,490       239,203       249,706       323,345       355,384

Income Tax Provision    -       57,872 -      88,023 -      94,908 -     121,975 -     132,837
Extraordinary                   11,427         7,281 -       3,251 -       1,001 -          23
Net profit                     124,045       158,461       151,547       200,369       222,524



Inventory                      758,185       747,942       736,616       731,337       762,146
Cash                           281,657        37,131        34,773       283,733       177,539
Prepaid Expenses                60,292        53,178        45,275        51,012        50,252
ST Investment                      -             -             -             -             -
Current Assets               1,149,047       891,110       870,871     1,122,966     1,051,719
PPE                            505,647       481,366       490,041       491,256       524,906
Goodwill                           -             -             -             -             -
Other                           20,775        19,815        17,783        27,135        36,308
Assets                       1,720,526     1,443,815     1,432,458     1,669,493     1,619,599

Trade Creditors                193,996      260,272       235,973       309,862       302,818
Loans                              -            -          61,700           -             -
Accrued Liabilites              58,815       62,978        45,693        52,519        53,771
Accrued Comp                    43,515       37,531        40,460        47,402        43,433
Taxes                          121,728      101,801        87,923        88,381       100,616
Bankruptcy Lease                12,660          -           5,043         4,786         3,552
Current Liabilities            474,232      500,344       515,095       542,520       541,931
Total LT Interest Bearing Debt     -        163,700           -             -             -
Deferred Rent                   37,801       35,955        29,192        31,490        42,037
Deferred Taxes                     -         25,353        28,852        28,577        19,142
Total Liabilities         590,823     805,329     657,613     668,081     672,806

PV of Operating Leases   1,914,792   1,882,400   1,898,848   2,034,936   2,094,272
NOA                      2,717,781   2,595,931   2,646,857   2,724,479   2,856,860
    2007   2008    2009    2010    2011
100.00% 100.00% 100.00% 100.00% 100.00%
-60.12% -60.48% -60.01% -59.39% -59.36%
 39.88% 39.52% 39.99% 40.61% 40.64%

-34.20%   -32.54%   -32.80%   -32.42%   -31.74%
  5.67%     6.98%     7.18%     8.19%     8.90%
  0.00%     0.00%     0.00%     0.27%    -0.09%
 -2.14%    -1.90%    -1.69%    -1.58%    -1.59%
  0.00%     0.00%     0.00%     0.00%     0.00%
  3.54%     5.08%     5.49%     6.88%     7.22%

  0.07%     0.11%    0.00%     0.00%     0.01%
  0.01%     0.05%    0.11%     0.04%     0.05%
 -0.06%    -0.06%    0.11%     0.04%     0.04%
 3.59%     5.14%     5.38%     6.84%     7.18%

 -1.22%    -1.89%    -2.04%    -2.58%    -2.68%
  0.24%     0.16%    -0.07%    -0.02%     0.00%
 2.62%     3.40%     3.26%     4.24%     4.49%


 44.07% 51.80% 51.42% 43.81% 47.06%
 16.37%   2.57%   2.43% 17.00% 10.96%
  3.50%   3.68%   3.16%   3.06%   3.10%
  0.00%   0.00%   0.00%   0.00%   0.00%
 66.78% 61.72% 60.80% 67.26% 64.94%
 29.39% 33.34% 34.21% 29.43% 32.41%
  0.00%   0.00%   0.00%   0.00%   0.00%
  1.21%   1.37%   1.24%   1.63%   2.24%
100.00% 100.00% 100.00% 100.00% 100.00%

32.83%    32.32%    35.88%    46.38%    45.01%
 0.00%     0.00%     9.38%     0.00%     0.00%
 9.95%     7.82%     6.95%     7.86%     7.99%
 7.37%     4.66%     6.15%     7.10%     6.46%
20.60%    12.64%    13.37%    13.23%    14.95%
 2.14%     0.00%     0.77%     0.72%     0.53%
80.27%    62.13%    78.33%    81.21%    80.55%
 0.00%    20.33%     0.00%     0.00%     0.00%
 6.40%     4.46%     4.44%     4.71%     6.25%
 0.00%     3.15%     4.39%     4.28%     2.85%
100.00% 100.00% 100.00% 100.00% 100.00%

 70.45% 72.51% 71.74% 74.69% 73.31%
100.00% 100.00% 100.00% 100.00% 100.00%
Free Cash Flow/DCF
                                                                Historical
                                          2006       2007      2008        2009        2010
Net Income                             124,045    158,461   151,547     200,369     222,524
D&A                                    101,279     88,484    78,624      74,904      78,606
Noncash stock-based compensation           -          -         -           -           -
WC Changes                             162,097     55,535 - 39,393       98,185 -    31,557

Capex                              -   35,878 -    60,360 -   88,735 -   78,708 -   107,563

Cash Return                        - 148,309 -    712,546 - 37,156 -   1,737 -      350,823
Operating Cash Flow                  387,421      302,480   190,778  373,458        269,573
Free Cash Flow                       351,543      242,120   102,043  294,750        162,010
Discounted Cash Flows




Net Income
D&A
Noncash stock-based compensation
WC Changes

Capex

Cash Return
Operating Cash Flow
Free Cash Flow
Discounted Cash Flows




Net Income
D&A
Noncash stock-based compensation
WC Changes

Capex

Cash Return
Operating Cash Flow
Free Cash Flow
Discounted Cash Flows
                        Projections (Base Case)
TTM          2011        2012        2013       2014         2015
          226,716     248,841    256,306    263,995       253,291
           90,531      95,963     98,842    101,807       104,862




      -    79,342 -    84,103 -    86,626 -    89,224 -    91,901

              -           -           -           -           -
          317,247     344,804     355,148     365,802     358,152
          237,905     260,701     268,522     276,578     266,251
          216,277     215,456     201,745     188,907     165,321

                       Projections (Worst Case)
             2011        2012        2013       2014         2015
          108,794      94,706     78,951     61,965        44,240
           91,548      94,160     95,905     96,723        96,581




      -    80,233 -    82,522 -    84,051 -    84,768 -    84,644

              -           -           -           -           -
          200,342     188,866     174,856     158,687     140,820
          120,109     106,344      90,804      73,919      56,177
          109,190      87,888      68,223      50,488      34,881

                        Projections (Best Case)
             2011        2012        2013       2014         2015
          134,511     148,415    153,392     157,768      161,480
           91,989      95,533     98,736     101,553      103,943




      -    80,619 -    83,725 -    86,533 -    89,002 -    91,096

              -           -           -           -           -
          226,500     243,948     252,128     259,321     265,423
          145,881     160,223     165,595     170,320     174,327
          132,619     132,415     124,414     116,331     108,244
DCF Output

                                                                                     Base
                                Terminal Growth Rate:                               1.00%
                         Terminal Shares Outstanding:                                 78,630
                    Weighted Average Cost of Capital:                              10.00%
               Present Value of Forecasted Cash Flows:                              987,705
                Present Value of Perpetual Cash Flows:                            1,855,268
                    Present Value of Total Cash Flows:                            2,842,974
                                         Value of Debt:                                  -
                                        Value of Cash:                              177,539
                                      Value of Equity:                            3,020,513

                               Value of Equity Per Share:                         $    38.41
                                           Range (in %):                              10%

                                           Value Range:               $ 34.57          -       $ 42.26
                                                                                  $     7.68
                                          Current Price:                          $    33.41

                                              P/V Ratio:                  0.79x        -          0.97x

                                        Potential Upside:                 3.48%        -        26.48%



Sensitivity Analysis
Base Case:
         Discount Rate:        10.00%               Discount Rate Sensitivity:         1.00%
 Terminal Growth Rate:          1.00%                Growth Rate Sensitvity:           0.50%

                                                                                                Discount Rate
                                                             7.00%        8.00%        9.00%     10.00%
                                                   -0.50%   $ 47.90   $   42.48   $    38.20   $ 34.74
                                                    0.00%   $ 50.36   $   44.31   $    39.61   $ 35.84
                                                    0.50%   $ 53.19   $   46.38   $    41.17   $ 37.06
                          Growth Rate
                                                    1.00%   $ 56.51   $   48.75   $    42.94   $ 38.41
                                                    1.50%   $ 60.42   $   51.49   $    44.94   $ 39.93
                                                    2.00%   $ 65.12   $   54.68   $    47.22   $ 41.63
                                                    2.50%   $ 70.86   $   58.45   $    49.86   $ 43.55
                         Worst                                    Best
                           0.50%                                    1.50%
                          78,630                                   78,630
                          10.00%                                   10.00%                                  Implied Terminal Va
                         350,670                                  614,022
                         369,008                                1,292,555
                         719,678                                1,906,577
                             -                                        -                                Value attributed to term
                         177,539                                  177,539
                         897,217                                2,084,116

                         $ 11.41                                $      26.51
                                  10%                                     10%

         $      10.27       -           $     12.55   $ 23.85         -          $ 29.16
                         $ 2.28                                 $       5.30
                         $ 33.41                                $      33.41

                2.66x         -              3.25x      1.15x         -            1.40x

             -69.26%          -             -62.43% -28.60%           -          -12.73%




                                                                    $80.00

                                                                    $70.00

                                                                    $60.00
Discount Rate
                11.00%       12.00%          13.00%                 $50.00
         $       31.88   $    29.48     $     27.44                 $40.00
         $       32.77   $    30.20     $     28.03
         $       33.73   $    30.98     $     28.67                 $30.00
         $       34.79   $    31.83     $     29.36                 $20.00
         $       35.97   $    32.76     $     30.11
                                                                    $10.00
         $       37.27   $    33.79     $     30.94
         $       38.73   $    34.92     $     31.83                    $-
                                                                               -0.50% 0.00% 0.50% 1.00% 1.50% 2.00%
                               Base   Worst       Best
               Exit Multiple: 5.13x    4.88x     5.51x
           Implied EBITDA: 361,734     358,152   358,152
   Implied Terminal Value: ####### 1,748,922     #######
           Current Multiple:           9.09x
                   EBITDA:             269,573
                         EV:         2,449,502
Value attributed to terminal: 65.26%  51.27%     67.79%




                       7.00%
                       8.00%
                       9.00%
                       10.00%
                       11.00%
                       12.00%
                       13.00%


      2.00% 2.50%
Residual Income Calculation
                                                             Historical
                                  2006         2007        2008         2009
RNOA:                                9.08%      12.10%      12.59%       14.53%
 PM                                  5.20%       6.75%       7.17%        8.38%
    Operating Profit (Pre-Tax)     246,799     314,129     333,250      395,987
        Growth                    524.47%       40.92%       7.80%       27.49%
    Revenue                      4,743,048   4,656,302   4,645,283    4,726,772
        Growth                       9.23%      -2.70%       0.93%        3.33%
 ATO                                 1.75x       1.79x       1.76x        1.73x
    NOA                          2,717,781   2,595,931   2,646,857    2,724,479
        Growth                      -9.36%      -4.48%       1.96%        2.93%
    Revenue                      4,743,048   4,656,302   4,645,283    4,726,772
        Growth                       9.23%      -2.70%       0.93%        3.33%
Operating Profit (Pre-Tax):        246,799     314,129     333,250      395,987


RNFO:                                4.81%       3.83%       4.46%       4.97%
Net Debt                         1,588,078   1,957,445   1,872,012   1,723,067
                                   -17.27%      23.26%      -4.36%      -7.96%
Financial Expense                   76,309      74,926      83,544      85,606

FLEV                                1.41x       3.07x       2.42x        1.72x

SPREAD                              4.28%       8.27%       8.13%        9.57%
TAX                                33.94%      36.80%      38.01%       37.72%

ROCE                                 9.97%     23.68%      19.98%       19.30%
Book                             1,129,703    638,486     774,845    1,001,412

Dividends                             -           -           -            -
     Payout Ratio
Net profit                        112,618     151,180     154,798      193,296

Residual Earnings
Discount Factor

Total PV of RE                    417,681
Continuing Value
PV of CV                          885,570

Shares Outstanding                 78,630
       Value per Share:              28.62
RNOA:
 PM
    Operating Profit (Pre-Tax)
        Growth
    Revenue
        Growth
 ATO
    NOA
        Growth
    Revenue
        Growth
Operating Profit (Pre-Tax):


RNFO:
Net Debt

Financial Expense

FLEV

SPREAD
TAX

ROCE
Book

Dividends
     Payout Ratio
Net profit

Residual Earnings
Discount Factor

Total PV of RE                   255,775
Continuing Value
PV of CV                         240,201

Shares Outstanding                78,630
       Value per Share:             18.35




RNOA:
 PM
    Operating Profit (Pre-Tax)
       Growth
    Revenue
        Growth
 ATO
    NOA
        Growth
    Revenue
        Growth
Operating Profit (Pre-Tax):


RNFO:
Net Debt

Financial Expense

FLEV

SPREAD
TAX

ROCE
Book

Dividends
     Payout Ratio
Net profit

Residual Earnings
Discount Factor

Total PV of RE                 497,115
Continuing Value
PV of CV                      1,294,472

Shares Outstanding              78,630
       Value per Share:           34.83
storical                                           Projections (Base Case)
             2010    CAGR             2011         2012          2013          2014         2015
              15.69%               15.54%       15.39%        15.24%        15.09%       14.95%
               9.05%                9.05%        9.05%         9.05%         9.05%        9.05%
             448,334              457,300      466,446       475,775       485,291      494,997
               9.95% 12.68%         2.00%        2.00%         2.00%         2.00%        2.00%
           4,952,244            5,051,289    5,152,315     5,255,361    5,360,468     5,467,678
               4.85%  0.87%         2.00%        2.00%         2.00%         2.00%        2.00%
               1.73x                1.72x        1.70x          1.68x        1.67x        1.65x
           2,856,860            2,942,566    3,030,843     3,121,768    3,215,421     3,311,884
               4.86%  1.00%         3.00%        3.00%         3.00%         3.00%        3.00%
           4,952,244            5,051,289    5,152,315     5,255,361    5,360,468     5,467,678
               4.85%  0.87%         2.00%        2.00%         2.00%         2.00%        2.00%
             448,334              457,300      466,446       475,775       485,291      494,997
                     12.68%

               4.63%                5.50%        5.50%        5.50%         5.50%         5.50%
           1,910,067            2,024,671    2,146,151    2,274,920     2,411,416     2,556,101
              10.85%   3.76%        6.00%        6.00%        6.00%         6.00%         6.00%
              88,350              111,357      118,038      125,121       132,628       140,586
                       2.97%
              2.02x                1.73x         1.55x        1.39x         1.26x        1.16x
                       7.49%
             11.07%               10.04%         9.89%        9.74%         9.59%        9.45%
             37.38%                  35%           35%          35%           35%          35%

             23.81%                23.27%       21.16%       19.70%        18.49%        17.48%
            946,793             1,167,096    1,387,398    1,634,305     1,907,626     2,209,800
                       -3.47%
                -                     -            -             -             -            -

            225,428              220,303      246,906       273,322       302,174      333,385
                       14.89%
                                 125,623      130,197       134,582       138,744      142,622
                                    1.10         1.21          1.33          1.46         1.61
                                 114,203      107,601       101,113        94,764       88,557

                                                                                      1,426,220




                                                 Projections (Worst Case)
                                     2011         2012         2013           2014         2015
            14.79%       13.93%       13.13%        12.37%         11.66%
             8.87%        8.69%        8.52%         8.35%          8.18%
           439,367      430,580      421,968       413,529        405,258
12.68%      -2.00%       -2.00%       -2.00%        -2.00%         -2.00%
         4,952,244    4,952,244    4,952,244     4,952,244      4,952,244
0.87%        0.00%        0.00%        0.00%         0.00%          0.00%
             1.67x        1.60x        1.54x         1.48x          1.42x
         2,971,134    3,089,980    3,213,579     3,342,122      3,475,807
1.00%        4.00%        4.00%        4.00%         4.00%          4.00%
         4,952,244    4,952,244    4,952,244     4,952,244      4,952,244
0.87%        0.00%        0.00%        0.00%         0.00%          0.00%
           439,367      430,580      421,968       413,529        405,258
12.68%

             6.50%        6.50%        6.50%         6.50%          6.50%
         2,024,671    2,146,151    2,274,920     2,411,416      2,556,101
3.76%        6.00%        6.00%        6.00%         6.00%          6.00%
           131,604      139,500      147,870       156,742        166,147
2.97%
            1.77x         1.61x        1.48x         1.38x         1.31x
7.49%
            8.29%         7.43%        6.63%         5.87%         5.16%
              35%           35%          35%           35%           35%

            20.48%       17.64%       15.47%        13.70%         12.22%
         1,140,697    1,334,601    1,535,764     1,742,172      1,952,535
-3.47%
               -            -             -             -             -

          193,904      201,163       206,408       210,363       212,902
14.89%
           99,225       87,093        72,948        56,787        38,685
             1.10         1.21          1.33          1.46          1.61
           90,204       71,978        54,807        38,786        24,020

                                                               386,846.51




                            Projections (Best Case)
               2011         2012          2013          2014          2015
            16.00%       16.30%        16.62%        16.94%        17.26%
             9.23%        9.40%         9.59%         9.77%         9.96%
           475,234      503,748       533,973       566,011       599,972
12.68%       6.00%        6.00%         6.00%         6.00%         6.00%
         5,150,334    5,356,347     5,570,601     5,793,425     6,025,162
0.87%        4.00%       4.00%       4.00%       4.00%        4.00%
             1.73x       1.73x       1.73x       1.73x        1.73x
         2,971,134   3,089,980   3,213,579   3,342,122    3,475,807
1.00%        4.00%       4.00%       4.00%       4.00%        4.00%
         5,150,334   5,356,347   5,570,601   5,793,425    6,025,162
0.87%        4.00%       4.00%       4.00%       4.00%        4.00%
           475,234     503,748     533,973     566,011      599,972
12.68%

             5.50%       5.50%       5.50%       5.50%        5.50%
         2,024,671   2,146,151   2,274,920   2,411,416    2,556,101
3.76%        6.00%       6.00%       6.00%       6.00%        6.00%
           111,357     118,038     125,121     132,628      140,586
2.97%
            1.72x       1.53x       1.36x       1.22x         1.10x
7.49%
           10.50%      10.80%      11.12%      11.44%        11.76%
              35%         35%         35%         35%           35%

            24.16%      22.69%      21.84%      21.13%       20.54%
         1,175,529   1,404,265   1,670,999   1,977,737    2,330,783
-3.47%
              -           -           -           -             -

          228,736     266,734     306,737     353,046       406,250
14.89%
          134,057     149,181     166,311     185,946       208,476
             1.10        1.21        1.33        1.46          1.61
          121,870     123,290     124,952     127,004       129,447

                                                         ##########
          18.00%

          16.00%
   2%     14.00%
1.60%
          12.00%
   2%
1.60%     10.00%

           8.00%
   3%
           6.00%
2.39%
   2%      4.00%
1.60%      2.00%

           0.00%
1.60%
                   2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

           6.00%
   6%
4.77%      5.00%
5.50%
4.77%      4.00%


-7.79%     3.00%

           2.00%

           1.00%

           0.00%
13.62%
                   2006 2007 2008 2009 2010 2011 2012 2013 2014 2015




8.64%
2.57%




         18.00%                                                        2.00x
          18.00%                                                       2.00x

          16.00%                                                       1.80x

          14.00%                                                       1.60x
  -2.0%
 -1.60%                                                                1.40x
          12.00%
   0.0%                                                                1.20x
          10.00%
  0.00%                                                                1.00x
           8.00%
                                                                       0.80x
  4.0%     6.00%
                                                                       0.60x
 3.19%
           4.00%                                                       0.40x
  0.0%
 0.00%     2.00%                                                       0.20x
           0.00%                                                       0.00x
 -1.60%            2006 2007 2008 2009 2010 2011 2012 2013 2014 2015



    6%
 4.77%
 6.50%    7.00%                                                         3.50x
 4.77%
          6.00%                                                         3.00x
 -5.91%   5.00%                                                         2.50x

          4.00%                                                         2.00x

          3.00%                                                         1.50x

          2.00%                                                         1.00x
11.35%
          1.00%                                                         0.50x

          0.00%                                                         0.00x
                   2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
  1.89%
-17.17%




          20.00%                                                       1.80x
          18.00%                                                       1.79x
    6%
          16.00%                                                       1.78x
 4.77%
    4%    14.00%                                                       1.77x
          12.00%                                                       1.76x
3.19%    12.00%                                                       1.76x
         10.00%                                                       1.75x
   4%     8.00%                                                       1.74x
3.19%
          6.00%                                                       1.73x
   4%
3.19%     4.00%                                                       1.72x
          2.00%                                                       1.71x
4.77%     0.00%                                                       1.70x
                  2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

   6%    6.00%
4.77%
5.50%    5.00%
4.77%
         4.00%
-8.63%
         3.00%

         2.00%

         1.00%
14.67%
         0.00%
                  2006 2007 2008 2009 2010 2011 2012 2013 2014 2015


12.17%
 9.23%
         1.85x


         1.80x


         1.75x

                   ATO
         1.70x
                   PM

         1.65x     RNOA:


         1.60x


         1.55x
2015

           3.50x

           3.00x

           2.50x

           2.00x
                    RNFO:
           1.50x
                    FLEV
           1.00x

           0.50x

           0.00x
 2015




       2.00x
2.00x
1.80x
1.60x
1.40x
1.20x
         ATO
1.00x
         PM
0.80x
         RNOA:
0.60x
0.40x
0.20x
0.00x




 3.50x

 3.00x

 2.50x

 2.00x
         RNFO:
 1.50x
         FLEV
 1.00x

 0.50x

 0.00x




1.80x
1.79x
1.78x
1.77x
1.76x
1.76x
          ATO
1.75x
          PM
1.74x
          RNOA:
1.73x
1.72x
1.71x
1.70x



  3.50x

  3.00x

  2.50x

  2.00x
           RNFO:
  1.50x
           FLEV
  1.00x

  0.50x

  0.00x
RI Output

                                                 Base                                   Worst
     Terminal Discount Rate:                      10.00%                                   10.00%
 Terminal Shares Outstanding:                     78,630                                   78,630
            PV of Residual:                      417,681                                  255,775
           Continuing Value:                   ########                                   386,847
    PV of Continuing Value:                      885,570                                  240,201
                Total Value:                   2,250,044                                1,442,769

            Value Per Share:                   $     28.62                          $         18.35
                Range (in %):                  10.00%                                   10.00%

               Value Range: $         25.75          -       $ 31.48 $     16.51          -
                                               $      5.72                         $           3.67
               Current Price:                  $     33.41                         $          33.41

                 P/V Ratio:        1.06x              -      1.30x         1.66x           -
               Expected P/B:                       2.38x                                1.52x

            Potential Upside:      -23%              -        -6%          -51%           -




                                Base Case:
                                     ROCE:          23.27%               Discount Rate Sensitivity:
                                Growth Rate:         2.57%                Growth Rate Sensitvity:
                                        B/P:         0.36x




                 Implied Return                                                                       RO
                                                    15.77%    17.27%      18.77%           20.27%
                                      0.07%         5.73%     6.27%       6.81%               7.35%
                                      0.57%         6.05%     6.59%       7.13%               7.67%
                                      1.07%         6.37%     6.91%       7.45%               7.99%
                                      1.57%         6.69%     7.23%       7.77%               8.31%
                                      2.07%         7.01%     7.55%       8.09%               8.63%
            Growth Rate               2.57%         7.33%     7.87%       8.41%               8.95%
                                     3.07%          7.65%     8.19%       8.73%               9.27%
Growth Rate

              3.57%   7.97%   8.51%    9.05%    9.59%
              4.07%   8.29%   8.83%    9.37%    9.91%
              4.57%   8.61%   9.15%    9.69%   10.23%
              5.07%   8.93%   9.47%   10.01%   10.55%
                           Best
                           10.00%
                           78,630
                          497,115
                        2,084,761
                        1,294,472
                        2,738,381

                        $     34.83
                            10.00%

$      20.18 $ 31.34          -       $ 38.31
                        $      6.97
                        $     33.41
                                                          16.00%
    2.02x       0.87x          -      1.07x               14.00%
                            2.89x                         12.00%
                                                          10.00%
    -40%         -6%          -        15%                 8.00%
                                                           6.00%
                                                           4.00%
                                                           2.00%
                                                           0.00%

       1.50%
       0.50%




          ROCE
      21.77% 23.27%          24.77%    26.27%   27.77%   29.27%    30.77%
      7.89%     8.43%         8.97%     9.51%   10.05%   10.59%    11.13%
      8.21%     8.75%         9.29%     9.83%   10.37%   10.91%    11.45%
      8.53%     9.07%         9.61%    10.15%   10.69%   11.23%    11.77%
      8.85%     9.39%         9.93%    10.47%   11.01%   11.55%    12.09%
      9.17%     9.71%        10.25%    10.79%   11.33%   11.87%    12.41%
      9.49%    10.03%        10.57%    11.11%   11.65%   12.19%    12.73%
      9.81%    10.35%        10.89%    11.43%   11.97%   12.51%    13.05%
10.13%   10.67%   11.21%   11.75%   12.29%   12.83%   13.37%
10.45%   10.99%   11.53%   12.07%   12.61%   13.15%   13.69%
10.77%   11.31%   11.85%   12.39%   12.93%   13.47%   14.01%
11.09%   11.63%   12.17%   12.71%   13.25%   13.79%   14.33%
23.27%
20.27%
17.27%
26.27%
29.27%
Valuation Summary
                      Low       Range     High
   52 Week Range:    $ 27.82   $ 16.62   $ 44.44
    Current Price:   $ 33.41   $ 1.00    $ 34.41
         RI Base:    $ 25.75   $ 5.72    $ 31.48        DCF Best:
        RI Worst:    $ 16.51   $ 3.67    $ 20.18
          RI Best:   $ 31.34   $ 6.97    $ 38.31
                                                      DCF Worst:
       DCF Base:     $ 34.57   $ 7.68    $ 42.26
      DCF Worst:     $ 10.27   $ 2.28    $ 12.55
        DCF Best:    $ 23.85   $ 5.30    $ 29.16       DCF Base:
          Comps:
                                                          RI Best:

                                                        RI Worst:

                                                         RI Base:

                                                    Current Price:

                                                   52 Week Range:




Historical Valuation
    DCF Best:

  DCF Worst:

   DCF Base:

      RI Best:

    RI Worst:

     RI Base:

Current Price:

2 Week Range:

                 $-   $5.00   $10.00   $15.00   $20.00   $25.00   $30.00   $35.00   $40.00   $45.00
$45.00   $50.00

								
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