Net income for the third quarter of
fiscal 1999 includes an after-tax charge of $9.0 million as
a loss from discontinued operations relating to lease obligations,
primarily for the Company's Hit or Miss stores.
During the fourth quarter of fiscal
2000, the Company changed its method of accounting for layaway
sales. (See Note A to the financial statements.) Quarterly results
for fiscal 2000 in the table above have been restated to reflect
the change in accounting. The cumulative effect of this change
for periods prior to January 31, 1999 of $5.2 million, net of
income taxes of $3.4 million, is included in net income of the
first quarter. The year-to-date effect of this change on fiscal
2000 was immaterial. The effect of this change on quarterly
net income and related earnings per share in fiscal 2000 follows
(in thousands except per share amounts): |
