SEAL123 INC - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIOS - March 31, 2010

Attached files

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EX-31.1 - CERTIFICATION OF CEO - SECTION 302 - SEAL123 INCdex311.htm
EX-21.1 - SUBSIDIARIES OF THE REGISTRANT - SEAL123 INCdex211.htm
EX-32.1 - CERTIFICATION OF CEO - SECTION 906 - SEAL123 INCdex321.htm
EX-32.2 - CERTIFICATION OF CFO - SECTION 906 - SEAL123 INCdex322.htm
EX-31.2 - CERTIFICATION OF CFO - SECTION 302 - SEAL123 INCdex312.htm
10-K - THE WET SEAL FORM 10-K - SEAL123 INCd10k.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - SEAL123 INCdex231.htm

EXHIBIT 12.1

THE WET SEAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

(AMOUNTS IN THOUSANDS, EXCEPT RATIOS AND WHERE NOTED)

 

     January 30,
2010		    January 31,
2009		    February 2,
2008		    February 3,
2007		     January 28,
2006		  

EARNINGS:

              

Income (loss) from continuing operations before income taxes

    $ 22,366    $ 31,476    $ 23,610    $ (12,530 )    $ (29,032 ) 

Fixed charges

      21,473      23,063      19,827      48,646        54,738   

Accretion of non-cash dividends on convertible preferred stock

                 (23,317 ) 
                                     

Total earnings

    $ 43,839    $ 54,539    $ 43,437    $ 36,116      $ 2,389   
                                     

FIXED CHARGES:

              

Interest expense and amortization of deferred financing costs

    $ 973    $ 2,863    $ 1,136    $ 31,955      $ 15,150   

Estimated interest expense included in minimum gross rent(3)

      20,500      20,200      18,691      16,691        16,271   

Accretion of non-cash dividends on convertible preferred stock

                 23,317   
                                     

Total fixed charges

    $ 21,473    $ 23,063    $ 19,827    $ 48,646      $ 54,738   
                                     

RATIO OF EARNINGS TO FIXED CHARGES

      2.04      2.36      2.19      —   (1)      —   (2) 
                                     

 

(1) Earnings were insufficient to cover fixed charges by $12.5 million.
(2) Earnings were insufficient to cover fixed charges by $52.3 million.
(3) Interest component is estimated to be one-third of minimum gross rent.

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