| Schedule of unaudited quarterly results of operations |
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Fiscal 2019 |
(In thousands, except per share data) |
|
First Quarter |
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Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Net sales |
|
$ |
1,743,029 |
|
$ |
1,666,607 |
|
$ |
1,682,514 |
|
$ |
2,305,918 |
Cost of sales |
|
|
1,098,182 |
|
|
1,060,708 |
|
|
1,059,081 |
|
|
1,499,033 |
Gross profit |
|
|
644,847 |
|
|
605,899 |
|
|
623,433 |
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|
806,885 |
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Selling, general and administrative expenses |
|
|
403,133 |
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|
392,843 |
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|
449,198 |
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|
515,542 |
Pre-opening expenses |
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|
4,174 |
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|
5,038 |
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|
6,455 |
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|
3,587 |
Operating income |
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|
237,540 |
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|
208,018 |
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|
167,780 |
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|
287,756 |
Interest income, net |
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|
(2,046) |
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|
(1,671) |
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|
(900) |
|
|
(439) |
Income before income taxes |
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|
239,586 |
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|
209,689 |
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|
168,680 |
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|
288,195 |
Income tax expense |
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|
47,365 |
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|
48,431 |
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|
38,933 |
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|
65,476 |
Net income |
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$ |
192,221 |
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$ |
161,258 |
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$ |
129,747 |
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$ |
222,719 |
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Net income per common share: |
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Basic |
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$ |
3.28 |
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$ |
2.77 |
|
$ |
2.25 |
|
$ |
3.91 |
Diluted |
|
$ |
3.26 |
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$ |
2.76 |
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$ |
2.25 |
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$ |
3.89 |
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Fiscal 2018 |
(In thousands, except per share data) |
|
First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
Net sales |
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$ |
1,543,667 |
|
$ |
1,488,221 |
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$ |
1,560,011 |
|
$ |
2,124,716 |
Cost of sales |
|
|
982,954 |
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|
952,760 |
|
|
987,733 |
|
|
1,383,857 |
Gross profit |
|
|
560,713 |
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|
535,461 |
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|
572,278 |
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|
740,859 |
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Selling, general and administrative expenses |
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|
345,624 |
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337,142 |
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395,453 |
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|
457,245 |
Pre-opening expenses |
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|
5,247 |
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|
4,504 |
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|
7,612 |
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|
2,404 |
Operating income |
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|
209,842 |
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|
193,815 |
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|
169,213 |
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|
281,210 |
Interest income, net |
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|
(1,325) |
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(1,143) |
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(1,318) |
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|
(1,275) |
Income before income taxes |
|
|
211,167 |
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|
194,958 |
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|
170,531 |
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|
282,485 |
Income tax expense |
|
|
46,771 |
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|
46,635 |
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|
39,365 |
|
|
67,811 |
Net income |
|
$ |
164,396 |
|
$ |
148,323 |
|
$ |
131,166 |
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$ |
214,674 |
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Net income per common share: |
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Basic |
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$ |
2.71 |
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$ |
2.47 |
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$ |
2.20 |
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$ |
3.64 |
Diluted |
|
$ |
2.70 |
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$ |
2.46 |
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$ |
2.18 |
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$ |
3.61 |
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