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<PAGE> 1
EXHIBIT 99.1
ShopKo Stores, Inc. and Subsidiaries
Condensed Consolidated Statements of Earnings
Fiscal Year Ended January 29, 2000
(unaudited)
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<CAPTION>
F1999
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First Second Third Fourth
Quarter Quarter Quarter Quarter YTD
F1999 F1999 F1999 F1999 F1999
(In thousands, except per share data) Restated Restated Restated Restated Restated
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<S> <C> <C> <C> <C> <C>
Revenues:
Net sales $ 549,460 $ 665,486 $ 806,032 $1,027,092 $3,048,070
Licensed department rentals and other income 2,904 3,327 3,531 3,830 13,592
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552,364 668,813 809,563 1,030,922 3,061,662
Costs and expenses:
Cost of sales 411,019 496,179 605,507 745,286 2,257,991
Selling, general and administrative expenses 112,892 133,110 152,794 169,424 568,220
Special charges - 841 3,372 3,855 8,068
Depreciation and amortization expenses 15,587 17,958 21,806 20,063 75,414
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539,498 648,088 783,479 938,628 2,909,693
Income from operations 12,866 20,725 26,084 92,294 151,969
Interest expense - net (9,865) (11,372) (13,638) (13,232) (48,107)
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Earnings from continuing operations before income
taxes 3,001 9,353 12,446 79,062 103,862
Provision for income taxes 1,041 3,559 4,690 31,880 41,170
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Earnings from continuing operations 1,960 5,794 7,756 47,182 62,692
Discontinued operations:
Income from discontinued operations, net of
income taxes 2,353 2,297 1,602 2,547 8,799
Gain on sale of ProVantage stock, net of
income taxes 34,754 (289) 34,465
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Earnings before extraordinary item 4,313 42,845 9,358 49,440 105,956
Extraordinary loss on retirement of debt, net of
income taxes (3,776) - - - (3,776)
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Net earnings $ 537 $ 42,845 $ 9,358 $ 49,440 $ 102,180
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11
<PAGE> 2
EXHIBIT 99.1 (Continued)
ShopKo Stores, Inc. and Subsidiaries
Condensed Consolidated Statements of Earnings
Fiscal Year Ended January 29, 2000
(unaudited)
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<CAPTION>
F1999
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First Second Third Fourth
Quarter Quarter Quarter Quarter YTD
F1999 F1999 F1999 F1999 F1999
(In thousands, except per share data) Restated Restated Restated Restated Restated
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<S> <C> <C> <C> <C> <C>
Earnings per share of common stock:
Basic:
Earnings from continuing operations $ 0.07 $ 0.22 $ 0.26 $ 1.59 $ 2.22
Earnings from discontinued operations 0.09 1.38 0.05 0.08 1.53
Extraordinary loss on retirement of debt (0.14) - - - (0.13)
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Net earnings $ 0.02 $ 1.60 $ 0.31 $ 1.67 $ 3.62
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Diluted:
Earnings from continuing operations $ 0.07 $ 0.21 $ 0.25 $ 1.58 $ 2.19
Earnings from discontinued operations 0.09 1.36 0.05 0.08 1.51
Extraordinary loss on retirement of debt (0.14) - - - (0.13)
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Net earnings $ 0.02 $ 1.57 $ 0.30 $ 1.66 $ 3.57
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Weighted average number of common
shares outstanding 26,140 26,810 30,376 29,621 28,237
Adjusted weighted average number of common
shares outstanding 26,591 27,299 30,702 29,786 28,595
Restated to reflect ProVantage as discontinued operations.
</TABLE>
12
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