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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 1 - us-gaap:SignificantAccountingPoliciesTextBlock-->
<!-- xbrl,ns -->
<!-- xbrl,nx -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt"><b>
</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 0pt">
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Nature of Operations</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">WOLVERINE WORLD WIDE INC/DE/ (the “Company”) is a leading designer, manufacturer and marketer of a
broad range of quality casual footwear and apparel; performance outdoor footwear and apparel;
industrial work shoes, boots and apparel; and uniform shoes and boots. The Company’s portfolio of
owned and licensed brands includes: <i>Bates</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Cat</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> Footwear, <i>Chaco</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>,
<i>Cushe</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Harley-Davidson</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> Footwear, <i>Hush Puppies</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>,
<i>HyTest</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Merrell</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Patagonia</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> Footwear, <i>Sebago</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Soft
Style</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> and <i>Wolverine</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>. Licensing and distribution arrangements with third
parties extend the global reach of the Company’s brand portfolio. The Company also operates a
consumer-direct division to market its own brands as well as branded footwear and apparel from
other manufacturers and a leathers division that markets <i>Wolverine Performance Leathers</i>™.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Basis of Presentation</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The accompanying unaudited consolidated condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States for interim financial
information and with the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all of the information and footnotes required by
accounting principles generally accepted in the United States for a complete presentation of the
financial statements. In the opinion of management, all adjustments (consisting of normal
recurring accruals) considered necessary for fair presentation have been included in the
accompanying financial statements. For further information, refer to the consolidated financial
statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year
ended January 1, 2011.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Revenue Recognition</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Revenue is recognized on the sale of products manufactured or sourced by the Company when the
related goods have been shipped, legal title has passed to the customer and collectability is
reasonably assured. Revenue generated through licensees and distributors involving products bearing
the Company’s trademarks is recognized as earned according to stated contractual terms upon either
the purchase or shipment of branded products by licensees and distributors.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company records provisions against gross revenue for estimated returns and cash discounts in
the period when the related revenue is recorded. These estimates are based on factors that
include, but are not limited to, historical returns, historical discounts taken and analysis of
credit memorandum activity.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Cost of Goods Sold</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Cost of goods sold include the actual product costs, including inbound freight charges, purchasing,
sourcing, inspection and receiving costs. Warehousing costs are included in selling, general and
administrative expenses.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Seasonality</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company’s business is subject to seasonal influences and the Company’s fiscal year has twelve
weeks in each of the first three quarters and, depending on the fiscal calendar, sixteen or
seventeen weeks in the fourth quarter. Both of these factors can cause significant differences in
revenue, earnings and cash flows from quarter to quarter; however, the differences have followed a
consistent pattern in previous years.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Reclassifications</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Certain prior period amounts on the consolidated condensed financial statements have been
reclassified to conform to current period presentation. These reclassifications did not affect net
earnings.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 2 - us-gaap:EarningsPerShareTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="left" style="font-size: 10pt; margin-top: 10pt"><b>2. EARNINGS PER SHARE</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company calculates earnings per share in accordance with Financial Accounting Standards Board
(“FASB”) Accounting Standards Codification (“ASC”) Topic 260, <i>Earnings Per Share </i>(“ASC 260”). ASC
260 addresses whether instruments granted in share-based payment transactions are participating
securities prior to vesting, and therefore need to be included in the earnings allocation in
computing earnings per share under the two-class method. Under the guidance in ASC 260, the
Company’s unvested share-based payment awards that contain nonforfeitable rights to dividends or
dividend equivalents, whether paid or unpaid, are participating securities and must be included in
the computation of earnings per share pursuant to the two-class method.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The following table sets forth the computation of basic and diluted earnings per share:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Numerator:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Net earnings
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>23,963</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17,222</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>59,843</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">44,681</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Adjustment for earnings allocated to
nonvested restricted common stock
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(403</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(273</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(992</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(670</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Net earnings used in calculating basic
earnings per share
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>23,560</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">16,949</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>58,851</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">44,011</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Adjustment for earnings reallocated from
nonvested restricted common stock
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>12</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">6</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>31</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">15</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Net earnings used in calculating
diluted earnings per share
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>23,572</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">16,955</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>58,882</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">44,026</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Denominator:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Weighted average shares outstanding
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>49,439,698</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,160,001</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>49,366,041</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,376,607</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Adjustment for nonvested restricted
common stock
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,490,880</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,248,223</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,435,262</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,170,522</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Shares used in calculating basic
earnings per share
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>47,948,818</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">47,911,778</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>47,930,779</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,206,085</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Effect of dilutive stock options
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,342,848</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,056,525</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>1,311,765</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,043,953</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Shares used in calculating diluted
earnings per share
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>49,291,666</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,968,303</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>49,242,544</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,250,038</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net earnings per share:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:45px; text-indent:-15px">Basic
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>0.49</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.35</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1.23</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.91</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:45px; text-indent:-15px">Diluted
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>0.48</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.35</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1.20</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.89</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Options to purchase 379,231 and 289,369 shares of common stock for the 12 and 24 weeks ended June
18, 2011, respectively, and 851,533 and 989,145 shares of common stock for the 12 and 24 weeks
ended June 19, 2010, respectively, have not been included in the denominator for the computation of
diluted earnings per share because the related exercise prices of these shares were greater than
the average market price for the quarters then-ended and they were, therefore, anti-dilutive.
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 3 - us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>3. GOODWILL AND OTHER NON-AMORTIZABLE INTANGIBLES</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The changes in the carrying amount of goodwill and other non-amortizable intangibles are as
follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="58%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Goodwill</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Trademarks</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 19, 2010
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">38,064</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">16,101</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">54,165</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Intangibles acquired
</div></td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">273</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">273</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Foreign currency translation effects
</div></td>
<td> </td>
<td> </td>
<td align="right">950</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">90</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,040</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at January 1, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right">39,014</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">16,464</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">55,478</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Intangibles acquired
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>105</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>105</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Intangibles disposed
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(11</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(11</b></td>
<td nowrap="nowrap"><b>)</b></td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Foreign currency translation effects
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>874</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>88</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>962</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 18, 2011
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>39,888</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>16,646</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>56,534</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 4 - us-gaap:ComprehensiveIncomeNoteTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>4. COMPREHENSIVE INCOME (LOSS)</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Comprehensive income (loss) represents net earnings and any revenue, expenses, gains and losses
that, under accounting principles generally accepted in the United States, are excluded from net
earnings and recognized directly as a component of stockholders’ equity.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The ending accumulated other comprehensive income (loss) is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="58%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">January 1,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Foreign currency translation adjustments
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>18,846</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">11,548</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4,532</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Fair value of foreign exchange contracts, net of taxes
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,753</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,815</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">1,816</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Pension adjustments, net of taxes
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(50,856</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(50,856</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(53,737</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Accumulated other comprehensive income (loss)
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"><b>$</b></td>
<td align="right"><b>(33,763</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(41,123</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(47,389</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The reconciliation from net earnings to comprehensive income is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net earnings
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right"><b>23,963</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17,222</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>59,843</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">44,681</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other comprehensive income (loss):
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Foreign currency translation adjustments
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>159</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,042</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right"><b>7,298</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(9,945</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Change in fair value of foreign
exchange contracts, net of taxes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,367</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,227</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>62</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">5,362</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Comprehensive income
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right"><b>25,489</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">18,407</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>67,203</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">40,098</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 5 - us-gaap:SegmentReportingDisclosureTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>5. BUSINESS SEGMENTS</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has one reportable segment that is engaged in designing, manufacturing, sourcing,
marketing, licensing and distributing to the retail sector branded footwear, apparel and
accessories. Revenue earned from the operations of this segment is derived from the sale of
branded footwear, apparel and accessories to third-party customers and royalty income from the
licensing of the Company’s trademarks and brand names to third-party licensees and distributors.
The operating segments aggregated into the branded footwear, apparel and licensing reportable
segment all manufacture, source, market and distribute products in a similar manner.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The other business units in the following tables consist of the Company’s consumer-direct, leather
and pigskin procurement operations. Substantially all of the assets of Wolverine Procurement, Inc.
were sold to a third-party buyer on December 29, 2010. These other operations do not collectively
form a reportable segment because their respective operations are dissimilar and they do not meet
the applicable quantitative requirements. At June 18, 2011, the Company owned and operated 92
retail stores in the United States, Canada and the United Kingdom and operated 45 consumer-direct
websites. The other business units distribute products through retail and wholesale channels.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company measures segment profits as earnings before income taxes. The accounting policies used
to determine profitability and total assets of the branded footwear, apparel and licensing
reportable segment and other business units are the same as disclosed in Note 1.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Business segment information is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended June 18, 2011</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Branded</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Footwear,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Apparel and</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Other</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Licensing</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Business Units</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Corporate</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Consolidated</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>275,278</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>34,861</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>310,139</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>10,883</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>508</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>11,391</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>39,481</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>2,522</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(9,739</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td> </td>
<td align="right"><b>32,264</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>637,928</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>63,022</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>132,547</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>833,497</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended June 18, 2011</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Branded</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Footwear,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Apparel and</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Other</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Licensing</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Business Units</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Corporate</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Consolidated</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>579,594</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>61,418</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>641,012</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>19,906</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>873</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>20,779</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>98,940</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>1,464</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(18,315</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td> </td>
<td align="right"><b>82,089</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>637,928</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>63,022</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>132,547</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>833,497</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">12 Weeks Ended June 19, 2010</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Branded</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Footwear,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Apparel and</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Other</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Licensing</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Business Units</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Corporate</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Consolidated</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">225,147</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">33,052</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">258,199</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right">9,149</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">777</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">9,926</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right">31,330</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,237</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(9,308</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">24,259</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right">520,097</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">43,393</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">121,850</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">685,340</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">24 Weeks Ended June 19, 2010</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Branded</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Footwear,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Apparel and</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Other</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Licensing</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Business Units</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Corporate</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Consolidated</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">486,785</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">56,311</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">543,096</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right">16,568</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,506</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">18,074</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right">79,246</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">845</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(17,159</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">62,932</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right">520,097</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">43,393</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">121,850</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">685,340</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
</div>
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<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>6. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company follows FASB ASC Topic 820, <i>Fair Value Measurements and Disclosures </i>(“ASC 820”), which
provides a consistent definition of fair value, focuses on exit price, prioritizes the use of
market-based inputs over entity-specific inputs for measuring fair value and establishes a
three-tier hierarchy for fair value measurements. This topic requires fair value measurements to
be classified and disclosed in one of the following three categories:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="88%"> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top">Level 1:
</td>
<td> </td>
<td align="left" valign="top">Fair value is measured using quoted prices (unadjusted) in active
markets for identical assets and liabilities.</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top"> </td>
<td> </td>
<td align="left" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top">Level 2:
</td>
<td> </td>
<td align="left" valign="top">Fair value is measured using either direct or indirect inputs,
other than quoted prices included within Level 1, which are
observable for similar assets or liabilities.</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top"> </td>
<td> </td>
<td align="left" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top">Level 3:
</td>
<td> </td>
<td align="left" valign="top">Fair value is measured using valuation techniques in which one or
more significant inputs are unobservable.</td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company’s financial instruments consist of cash and cash equivalents, accounts and notes
receivable, accounts payable, foreign currency forward exchange contracts, borrowings under the
Company’s revolving credit agreement and long-term debt. The carrying amount of the Company’s
financial instruments is historical cost, which approximates their fair value, except for the
foreign currency exchange contracts, which are carried at fair value. The Company does not hold or
issue financial instruments for trading purposes.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">At June 18, 2011 and June 19, 2010, a liability of $1,227 and an asset of $1,988, respectively,
have been recognized for the fair value of the Company’s foreign exchange contracts. In accordance
with ASC 820, these assets and liabilities fall within Level 2 of the fair value hierarchy. The
prices for the financial instruments are determined using prices for recently-traded financial
instruments with similar underlying terms as well as directly or indirectly observable inputs. The
Company did not have any additional assets or liabilities that were measured at fair value on a
recurring basis at June 18, 2011 and June 19, 2010.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company follows FASB ASC Topic 815, <i>Derivatives and Hedging</i>, which is intended to improve
transparency in financial reporting and requires that all derivative instruments be recorded on the
consolidated balance sheets at fair value by establishing criteria for designation and
effectiveness of hedging relationships. The Company utilizes foreign currency forward exchange
contracts to manage the volatility associated with U.S. dollar inventory purchases made by non-U.S.
wholesale operations in the normal course of business.
At June 18, 2011 and June 19, 2010, foreign
exchange contracts with a notional value of $113,368 and $91,900, respectively, were outstanding to
purchase U.S. dollars with maturities ranging up to 336 days. These contracts have been designated
as cash flow hedges.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The fair value of the foreign currency forward exchange contracts represents the estimated receipts
or payments necessary to terminate the contracts. Hedge effectiveness is evaluated by the
hypothetical derivative method. Any hedge ineffectiveness is reported within the cost of goods
sold caption of the consolidated condensed statements of operations. Hedge ineffectiveness was not
material to the Company’s consolidated condensed financial statements for the 12 and 24 weeks ended
June 18, 2011 and June 19, 2010. If, in the future, the foreign exchange contracts are determined
to be ineffective hedges or terminated before their contractual termination dates, the Company
would be required to reclassify into earnings all or a portion of the unrealized amounts related to
the cash flow hedges that are currently included in accumulated other comprehensive income (loss)
within stockholders’ equity.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">For the 12 weeks ended June 18, 2011 and June 19, 2010, the Company recognized a net loss of $555
and a net gain of $676, respectively, in accumulated other comprehensive income (loss) related to
the effective portion of its foreign exchange contracts. For the 12 weeks ended June 18, 2011 and
June 19, 2010, the Company reclassified gains of $595 and $991, respectively, from accumulated
other comprehensive income (loss) into cost of goods sold related to the effective portion of its
foreign exchange contracts designated and qualifying as cash flow hedges. For the 24 weeks ended
June 18, 2011 and June 19, 2010, the Company recognized net losses of $1,555 and $203,
respectively, in accumulated other comprehensive income (loss) related to the effective portion of
its foreign exchange contracts. For the 24 weeks ended June 18, 2011 and June 19, 2010, the
Company reclassified gains of $1,595 and $2,408, respectively, from accumulated other comprehensive
income (loss) into cost of goods sold related to the effective portion of its foreign exchange
contracts designated and qualifying as cash flow hedges.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 7 - us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock-->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>7. STOCK-BASED COMPENSATION</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company accounts for stock-based compensation in accordance with the fair value recognition
provisions of FASB ASC Topic 718, <i>Compensation — Stock Compensation </i>(“ASC 718”).
The Company
recognized compensation expense of $4,095 and $7,377 and related income tax benefits of $1,318 and
$2,370 for grants under its stock-based compensation plans in the statements of operations for the
12 and 24 weeks ended June 18, 2011, respectively. For the 12 and 24 weeks ended June 19, 2010, the
Company recognized compensation expense of $2,555 and $5,110 and related income tax benefits of
$791 and $1,557, respectively, for grants under its stock-based compensation plans.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Stock-based compensation expense recognized in the consolidated condensed statements of operations
for the 12 and 24 weeks ended June 18, 2011 and June 19, 2010, is based on awards ultimately
expected to vest and, as such, has been reduced for estimated forfeitures. ASC 718 requires
forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods
if actual forfeitures differ from those estimates. Forfeitures were estimated based on historical
experience.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company estimated the fair value of employee stock options on the date of grant using the
Black-Scholes model. The estimated weighted-average fair value for each option granted was $10.45
and $6.94 per share for 24 weeks ended June 18, 2011 and June 19, 2010, respectively, with the
following weighted-average assumptions:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected market price volatility <sup style="font-size: 85%; vertical-align: text-top">(1)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>38.5</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">37.2</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>38.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">37.9</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Risk-free interest rate <sup style="font-size: 85%; vertical-align: text-top">(2)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">2.1</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.8</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.9</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Dividend yield <sup style="font-size: 85%; vertical-align: text-top">(3)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.7</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.9</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected term <sup style="font-size: 85%; vertical-align: text-top">(4)</sup>
</div></td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right"><b>4 years</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right">4 years</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right"><b>4 years</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right">4 years</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr style="font-size: 6pt">
<td width="3%"> </td>
<td width="1%"> </td>
<td width="96%"> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(1)</td>
<td> </td>
<td>
<div style="text-align: justify">Based on historical volatility of the Company’s common stock. The expected volatility is based on the
daily percentage change in the price of the stock over the four years prior to the grant.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(2)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the U.S. Treasury yield curve in effect for the expected term of the option at the time of grant.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(3)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the Company’s cash dividend yield for the expected term.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(4)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the period of time that options granted are expected to be outstanding. As part of the
determination of the expected term, the Company concluded that all employee groups exhibit similar exercise
and post-vesting termination behavior.
</div></td>
</tr>
</table>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company issued 147,797 and 895,116 shares of common stock in connection with the exercise of
stock options and restricted stock grants made during the 12 and 24 weeks ended June 18, 2011,
respectively. During the 12 and 24 weeks ended June 18, 2011, the Company cancelled 5,563 and
9,528 shares, respectively, of common stock issued under restricted stock awards as a result of
forfeitures. The Company issued 154,658 and 1,017,829 shares of common stock in connection with
the exercise of stock options and restricted stock grants made during the 12 and 24 weeks ended
June 19, 2010, respectively. During the 12 and 24 weeks ended June 19, 2010, the Company cancelled
17,328 and 21,081 shares, respectively, of common stock issued under restricted stock awards as a
result of forfeitures.
</div>
</div>
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<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>8. PENSION EXPENSE</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">A summary of net pension and Supplemental Executive Retirement Plan costs recognized by the Company
is as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>June 18, 2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 19, 2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>June 18, 2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 19, 2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Service cost pertaining to benefits
earned during the period
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1,500</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,322</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>3,000</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,644</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Interest cost on projected benefit obligations
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>3,075</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,936</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>6,150</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">5,871</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected return on pension assets
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(3,323</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,877</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(6,646</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(5,754</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Net amortization loss
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2,787</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,378</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>5,574</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,756</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net pension expense
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,039</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,759</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>8,078</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">7,517</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center" style="font-size: 10pt; margin-top: 0pt">
<b>
</b>
</div>
</div>
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<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>9. LITIGATION AND CONTINGENCIES</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is involved in various environmental claims and other legal actions arising in the
normal course of business. The environmental claims include sites where the U.S. Environmental
Protection Agency has notified the Company that it is a potentially responsible party with respect
to environmental remediation. These remediation claims are subject to ongoing environmental impact
studies, assessment of remediation alternatives, allocation of costs between responsible parties
and concurrence by regulatory authorities and have not yet advanced to a stage where the Company’s
liability is fixed. However, after taking into consideration legal counsel’s evaluation of all
actions and claims against the Company, in management’s opinion the outcome of these matters will
not have a material adverse effect on the Company’s consolidated financial position, results of
operations or cash flows.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is involved in routine litigation incidental to its business and is a party to legal
actions and claims, including, but not limited to, those related to employment and intellectual
property. Some of the legal proceedings include claims for compensatory as well as punitive
damages. While the final outcome of these matters cannot be predicted with certainty, considering,
among other things, the meritorious legal defenses available and liabilities that have been
recorded along with applicable insurance, in management’s opinion the outcome of these items will
not have a material adverse effect on the Company’s financial position, results of operations or
cash flows.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has future minimum royalty and advertising obligations due under the terms of certain
licenses held by the Company. These minimum future obligations are as follows:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="28%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2012</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2013</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2014</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2015</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Thereafter</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Minimum royalties
</div></td>
<td> </td>
<td> </td>
<td align="right">1,693</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">880</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">898</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">916</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">934</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">953</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Minimum advertising
</div></td>
<td> </td>
<td> </td>
<td align="right">2,091</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,999</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,059</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,121</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,184</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,169</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Minimum royalties are based on both fixed obligations and assumptions regarding the consumer price
index. Royalty obligations in excess of minimum requirements are based upon future sales levels.
In accordance with these agreements, the Company incurred royalty expense of $710 and $1,664,
respectively, for the 12 and 24 weeks ended June 18, 2011. For the 12 and 24 weeks ended June 19,
2010, the Company incurred royalty expense of $728 and $1,467, respectively.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The terms of certain license agreements also require the Company to make advertising expenditures
based on the level of sales. In accordance with these agreements, the Company incurred advertising
expense of $767 and $1,451 for the 12 and 24 weeks ended June 18, 2011, respectively. For the 12
and 24 weeks ended June 19, 2010, the Company incurred advertising expense of $669 and $1,281,
respectively.
</div>
</div>
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<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>10. RESTRUCTURING AND OTHER TRANSITION COSTS</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">On January 7, 2009, the Company’s Board of Directors approved a strategic restructuring plan
designed to create significant operating efficiencies, improve the Company’s supply chain and
create a stronger global platform. On October 7, 2009, the Company announced an expansion of its
restructuring plan to include the consolidation of two domestic manufacturing facilities into one
and to finalize realignment in certain of the Company’s product creation organizations. The
strategic restructuring plan and all actions under the plan, except for certain cash payments, were
completed at June 19, 2010. Accordingly, the Company did not incur any restructuring or other
transition costs for the 12 and 24 weeks ended June 18, 2011. The Company incurred restructuring
and other transition costs of $2,736 ($1,943 on an after-tax basis), or $0.04 per diluted share,
and $4,234 ($3,087 on an after-tax basis), or $0.06 per diluted share, for the 12 and 24 weeks
ended June 19, 2010, respectively.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Restructuring</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company did not incur restructuring charges for the 12 and 24 weeks ended June 18, 2011. Prior
to completion of the restructuring plan, the Company incurred restructuring charges of $1,823
($1,337 on an after-tax basis), or $0.03 per diluted share, for the 12 weeks ended June 19, 2010
and $2,239 ($1,632 on an after-tax basis), or $0.03 per diluted share, for the 24 weeks ended June
19, 2010.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The following is a summary of the activity with respect to a reserve established by the Company in
connection with the restructuring plan, by category of costs:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="58%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Severance and</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Facility exit costs</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">employee related</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">and other</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 19, 2010
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">1,324</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,016</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,340</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Amounts paid or utilized
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,037</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(989</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,026</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at January 1, 2011
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">287</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,027</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,314</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Amounts paid or utilized
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(287</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(386</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(673</b></td>
<td nowrap="nowrap"><b>)</b></td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 18, 2011
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>641</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>641</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Other Transition Costs</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Incremental costs incurred related to the restructuring plan that do not qualify as restructuring
costs under the provisions of FASB ASC Topic 420, <i>Exit or Disposal Cost Obligations</i>, have been
included in the Company’s consolidated condensed statements of operations on the line item titled
“Restructuring and other transition costs”. These primarily include costs related to closure of
facilities, new employee training and transition to outsourced services. All costs included in
this caption were solely related to the transition and implementation of the restructuring plan and
do not include ongoing business operating costs.
There were no other transition costs incurred
during the 12 and 24 weeks ended June 18, 2011. Other transition costs were $913 ($686 on an
after-tax basis), and $1,995 ($1,454 on an after-tax basis), respectively, for the 12 and 24 weeks
ended June 19, 2010.
</div>
</div>
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<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>11. NEW ACCOUNTING STANDARDS</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In December 2010, the FASB issued Accounting Standard Update (“ASU”) 2010-28, <i>Goodwill and Other
(Topic 350): When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero
or Negative Carrying Amounts</i>. ASU 2010-28 modifies Step 1 of the goodwill impairment test for
reporting units with zero or negative carrying amounts. For those reporting units, an entity is
required to perform Step 2 of the goodwill impairment test if it is more likely than not that a
goodwill impairment exists. In determining whether it is more likely than not that goodwill
impairment exists, an entity must consider whether there are any adverse qualitative factors
indicating impairment may exist. ASU 2010-28 is effective for fiscal years, and interim periods
within those years, beginning December 15, 2010 (the first quarter of fiscal 2011 for the Company).
The adoption of this ASU is not expected to have a material impact on the Company’s goodwill
impairment evaluation as the Company does not currently have reporting units with zero or negative
carrying amounts.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In December 2010, the FASB issued ASU 2010-29, <i>Business Combinations (Topic 805): Disclosure of
Supplementary Pro Forma Information for Business Combinations</i>. ASU 2010-29 requires that if a
public entity presents comparative financial statements, the entity should disclose only revenue
and earnings of the combined entity as though the business combination(s) that occurred during the
current year had occurred as of the beginning of the comparable prior annual reporting period.
This ASU also expands the disclosure requirements regarding supplemental pro forma adjustments to
include a description of the nature and amount of material, nonrecurring pro forma adjustments
directly attributable to the business combination included in the reported pro forma revenue and
earnings. ASU 2010-29 is effective prospectively for business combinations for which the
acquisition date is on or after the first annual reporting period beginning on or after December
15, 2010 (the first quarter of fiscal 2011 for the Company). The Company will provide the
supplementary pro forma information in connection with any future business combinations.
</div>
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</div>
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<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In May 2011, the FASB issued ASU 2011-04, <i>Fair Value Measurement (Topic 820): Amendments to Achieve
Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS. </i>ASU 2011-04
represents the converged guidance of the FASB and the International Accounting Standards Board on
fair value measurement and is intended to result in greater comparability of fair value
measurements presented and disclosed in financial statements prepared in accordance with U.S.
generally accepted accounting principles (“U.S. GAAP”) and International Financial Reporting
Standards (“IFRS”). The ASU sets forth common U.S. GAAP and IFRS requirements for measuring fair
value and for disclosing information about fair value measurements, including a consistent meaning
of the term “fair value.” The amendments in the ASU are effective during interim and annual
periods beginning after December 15, 2011 (the first quarter of fiscal 2012 for the Company).
Early adoption is not permitted. This standard impacts disclosure only, and therefore adoption
will not have an impact on the Company’s consolidated financial position, results of operations or
cash flows.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In June 2011, the FASB issued ASU 2011-05, <i>Comprehensive Income (Topic 220): Presentation of
Comprehensive Income. </i>ASU 2011-05 amends the FASB Accounting Standards Codification<sup style="font-size: 85%; vertical-align: text-top">TM</sup>
(the “Codification”) to allow an entity the option to
present the total of comprehensive income, the components of net income, and the components of
other comprehensive income either in a single continuous statement of comprehensive income or in
two separate but consecutive statements. In both choices, an entity is required to present each
component of net income along with total net income, each component of other comprehensive income
along with a total for other comprehensive income, and a total amount for comprehensive income.
ASU 2011-05 eliminates the option to present the components of other comprehensive income as part
of the statement of changes in stockholders’ equity. The amendments to the Codification in the ASU
do not change the items that must be reported in other comprehensive income or when an item of
other comprehensive income must be reclassified to net income. ASU 2011-05 should be applied
retrospectively. The amendments are effective for fiscal years, and interim periods within those
years, beginning after December 15, 2011 (the first quarter of fiscal 2012 for the Company). Early
adoption is permitted. This standard impacts presentation and disclosure only, and therefore
adoption will not have an impact on the Company’s consolidated financial position, results of
operations or cash flows.
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Nature of Operations</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">WOLVERINE WORLD WIDE INC/DE/ (the “Company”) is a leading designer, manufacturer and marketer of a
broad range of quality casual footwear and apparel; performance outdoor footwear and apparel;
industrial work shoes, boots and apparel; and uniform shoes and boots. The Company’s portfolio of
owned and licensed brands includes: <i>Bates</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Cat</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> Footwear, <i>Chaco</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>,
<i>Cushe</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Harley-Davidson</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> Footwear, <i>Hush Puppies</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>,
<i>HyTest</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Merrell</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Patagonia</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> Footwear, <i>Sebago</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>, <i>Soft
Style</i><sup style="font-size: 85%; vertical-align: text-top">®</sup> and <i>Wolverine</i><sup style="font-size: 85%; vertical-align: text-top">®</sup>. Licensing and distribution arrangements with third
parties extend the global reach of the Company’s brand portfolio. The Company also operates a
consumer-direct division to market its own brands as well as branded footwear and apparel from
other manufacturers and a leathers division that markets <i>Wolverine Performance Leathers</i>™.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Basis of Presentation</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The accompanying unaudited consolidated condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States for interim financial
information and with the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all of the information and footnotes required by
accounting principles generally accepted in the United States for a complete presentation of the
financial statements. In the opinion of management, all adjustments (consisting of normal
recurring accruals) considered necessary for fair presentation have been included in the
accompanying financial statements. For further information, refer to the consolidated financial
statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year
ended January 1, 2011.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Revenue Recognition</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Revenue is recognized on the sale of products manufactured or sourced by the Company when the
related goods have been shipped, legal title has passed to the customer and collectability is
reasonably assured. Revenue generated through licensees and distributors involving products bearing
the Company’s trademarks is recognized as earned according to stated contractual terms upon either
the purchase or shipment of branded products by licensees and distributors.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company records provisions against gross revenue for estimated returns and cash discounts in
the period when the related revenue is recorded. These estimates are based on factors that
include, but are not limited to, historical returns, historical discounts taken and analysis of
credit memorandum activity.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Cost of Goods Sold</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Cost of goods sold include the actual product costs, including inbound freight charges, purchasing,
sourcing, inspection and receiving costs. Warehousing costs are included in selling, general and
administrative expenses.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Seasonality</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company’s business is subject to seasonal influences and the Company’s fiscal year has twelve
weeks in each of the first three quarters and, depending on the fiscal calendar, sixteen or
seventeen weeks in the fourth quarter. Both of these factors can cause significant differences in
revenue, earnings and cash flows from quarter to quarter; however, the differences have followed a
consistent pattern in previous years.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Reclassifications</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Certain prior period amounts on the consolidated condensed financial statements have been
reclassified to conform to current period presentation. These reclassifications did not affect net
earnings.
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note2_accounting_policy_table1 - us-gaap:EarningsPerSharePolicyTextBlock-->
<div align="left" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company calculates earnings per share in accordance with Financial Accounting Standards Board
(“FASB”) Accounting Standards Codification (“ASC”) Topic 260, <i>Earnings Per Share </i>(“ASC 260”). ASC
260 addresses whether instruments granted in share-based payment transactions are participating
securities prior to vesting, and therefore need to be included in the earnings allocation in
computing earnings per share under the two-class method. Under the guidance in ASC 260, the
Company’s unvested share-based payment awards that contain nonforfeitable rights to dividends or
dividend equivalents, whether paid or unpaid, are participating securities and must be included in
the computation of earnings per share pursuant to the two-class method.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company follows FASB ASC Topic 820, <i>Fair Value Measurements and Disclosures </i>(“ASC 820”), which
provides a consistent definition of fair value, focuses on exit price, prioritizes the use of
market-based inputs over entity-specific inputs for measuring fair value and establishes a
three-tier hierarchy for fair value measurements. This topic requires fair value measurements to
be classified and disclosed in one of the following three categories:
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="88%"> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top">Level 1:
</td>
<td> </td>
<td align="left" valign="top">Fair value is measured using quoted prices (unadjusted) in active
markets for identical assets and liabilities.</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top"> </td>
<td> </td>
<td align="left" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top">Level 2:
</td>
<td> </td>
<td align="left" valign="top">Fair value is measured using either direct or indirect inputs,
other than quoted prices included within Level 1, which are
observable for similar assets or liabilities.</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top"> </td>
<td> </td>
<td align="left" valign="top"> </td>
</tr>
<tr valign="bottom">
<td valign="top">
<div style="margin-left:0px; text-indent:-0px"> 
</div></td>
<td> </td>
<td align="left" valign="top">Level 3:
</td>
<td> </td>
<td align="left" valign="top">Fair value is measured using valuation techniques in which one or
more significant inputs are unobservable.</td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company’s financial instruments consist of cash and cash equivalents, accounts and notes
receivable, accounts payable, foreign currency forward exchange contracts, borrowings under the
Company’s revolving credit agreement and long-term debt. The carrying amount of the Company’s
financial instruments is historical cost, which approximates their fair value, except for the
foreign currency exchange contracts, which are carried at fair value. The Company does not hold or
issue financial instruments for trading purposes.
</div>
</div>
</div>
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<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In May 2011, the FASB issued ASU 2011-04, <i>Fair Value Measurement (Topic 820): Amendments to Achieve
Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS. </i>ASU 2011-04
represents the converged guidance of the FASB and the International Accounting Standards Board on
fair value measurement and is intended to result in greater comparability of fair value
measurements presented and disclosed in financial statements prepared in accordance with U.S.
generally accepted accounting principles (“U.S. GAAP”) and International Financial Reporting
Standards (“IFRS”). The ASU sets forth common U.S. GAAP and IFRS requirements for measuring fair
value and for disclosing information about fair value measurements, including a consistent meaning
of the term “fair value.” The amendments in the ASU are effective during interim and annual
periods beginning after December 15, 2011 (the first quarter of fiscal 2012 for the Company).
Early adoption is not permitted. This standard impacts disclosure only, and therefore adoption
will not have an impact on the Company’s consolidated financial position, results of operations or
cash flows.
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note6_accounting_policy_table2 - us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company follows FASB ASC Topic 815, <i>Derivatives and Hedging</i>, which is intended to improve
transparency in financial reporting and requires that all derivative instruments be recorded on the
consolidated balance sheets at fair value by establishing criteria for designation and
effectiveness of hedging relationships. The Company utilizes foreign currency forward exchange
contracts to manage the volatility associated with U.S. dollar inventory purchases made by non-U.S.
wholesale operations in the normal course of business.
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note7_accounting_policy_table1 - us-gaap:CompensationRelatedCostsPolicyTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company accounts for stock-based compensation in accordance with the fair value recognition
provisions of FASB ASC Topic 718, <i>Compensation — Stock Compensation </i>(“ASC 718”).
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note10_accounting_policy_table1 - us-gaap:CostsAssociatedWithExitOrDisposalActivitiesOrRestructuringsPolicyTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Incremental costs incurred related to the restructuring plan that do not qualify as restructuring
costs under the provisions of FASB ASC Topic 420, <i>Exit or Disposal Cost Obligations</i>, have been
included in the Company’s consolidated condensed statements of operations on the line item titled
“Restructuring and other transition costs”. These primarily include costs related to closure of
facilities, new employee training and transition to outsourced services. All costs included in
this caption were solely related to the transition and implementation of the restructuring plan and
do not include ongoing business operating costs.
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note11_accounting_policy_table1 - us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In December 2010, the FASB issued Accounting Standard Update (“ASU”) 2010-28, <i>Goodwill and Other
(Topic 350): When to Perform Step 2 of the Goodwill Impairment Test for Reporting Units with Zero
or Negative Carrying Amounts</i>. ASU 2010-28 modifies Step 1 of the goodwill impairment test for
reporting units with zero or negative carrying amounts. For those reporting units, an entity is
required to perform Step 2 of the goodwill impairment test if it is more likely than not that a
goodwill impairment exists. In determining whether it is more likely than not that goodwill
impairment exists, an entity must consider whether there are any adverse qualitative factors
indicating impairment may exist. ASU 2010-28 is effective for fiscal years, and interim periods
within those years, beginning December 15, 2010 (the first quarter of fiscal 2011 for the Company).
The adoption of this ASU is not expected to have a material impact on the Company’s goodwill
impairment evaluation as the Company does not currently have reporting units with zero or negative
carrying amounts.
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note11_accounting_policy_table2 - us-gaap:BusinessCombinationsAndOtherPurchaseOfBusinessTransactionsPolicyTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In December 2010, the FASB issued ASU 2010-29, <i>Business Combinations (Topic 805): Disclosure of
Supplementary Pro Forma Information for Business Combinations</i>. ASU 2010-29 requires that if a
public entity presents comparative financial statements, the entity should disclose only revenue
and earnings of the combined entity as though the business combination(s) that occurred during the
current year had occurred as of the beginning of the comparable prior annual reporting period.
This ASU also expands the disclosure requirements regarding supplemental pro forma adjustments to
include a description of the nature and amount of material, nonrecurring pro forma adjustments
directly attributable to the business combination included in the reported pro forma revenue and
earnings. ASU 2010-29 is effective prospectively for business combinations for which the
acquisition date is on or after the first annual reporting period beginning on or after December
15, 2010 (the first quarter of fiscal 2011 for the Company). The Company will provide the
supplementary pro forma information in connection with any future business combinations.
</div>
</div>
</div>
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<!-- Begin Block Tagged Accounting Policy: www-20110618_note11_accounting_policy_table4 - us-gaap:StockholdersEquityPolicyTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt">In June 2011, the FASB issued ASU 2011-05, <i>Comprehensive Income (Topic 220): Presentation of
Comprehensive Income. </i>ASU 2011-05 amends the FASB Accounting Standards Codification<sup style="font-size: 85%; vertical-align: text-top">TM</sup>
(the “Codification”) to allow an entity the option to
present the total of comprehensive income, the components of net income, and the components of
other comprehensive income either in a single continuous statement of comprehensive income or in
two separate but consecutive statements. In both choices, an entity is required to present each
component of net income along with total net income, each component of other comprehensive income
along with a total for other comprehensive income, and a total amount for comprehensive income.
ASU 2011-05 eliminates the option to present the components of other comprehensive income as part
of the statement of changes in stockholders’ equity. The amendments to the Codification in the ASU
do not change the items that must be reported in other comprehensive income or when an item of
other comprehensive income must be reclassified to net income. ASU 2011-05 should be applied
retrospectively. The amendments are effective for fiscal years, and interim periods within those
years, beginning after December 15, 2011 (the first quarter of fiscal 2012 for the Company). Early
adoption is permitted. This standard impacts presentation and disclosure only, and therefore
adoption will not have an impact on the Company’s consolidated financial position, results of
operations or cash flows.
</div>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note2_table1 - us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Numerator:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Net earnings
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>23,963</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17,222</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>59,843</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">44,681</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Adjustment for earnings allocated to
nonvested restricted common stock
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(403</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(273</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(992</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(670</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Net earnings used in calculating basic
earnings per share
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>23,560</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">16,949</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>58,851</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">44,011</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Adjustment for earnings reallocated from
nonvested restricted common stock
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>12</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">6</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>31</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">15</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Net earnings used in calculating
diluted earnings per share
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>23,572</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">16,955</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>58,882</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">44,026</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Denominator:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Weighted average shares outstanding
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>49,439,698</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,160,001</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>49,366,041</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,376,607</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Adjustment for nonvested restricted
common stock
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,490,880</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,248,223</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,435,262</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,170,522</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Shares used in calculating basic
earnings per share
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>47,948,818</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">47,911,778</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>47,930,779</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,206,085</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Effect of dilutive stock options
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,342,848</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,056,525</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>1,311,765</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,043,953</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Shares used in calculating diluted
earnings per share
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>49,291,666</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">48,968,303</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>49,242,544</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">49,250,038</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net earnings per share:
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:45px; text-indent:-15px">Basic
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>0.49</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.35</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1.23</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.91</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:45px; text-indent:-15px">Diluted
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>0.48</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.35</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1.20</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">0.89</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note3_table1 - us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="58%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Goodwill</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Trademarks</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 19, 2010
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">38,064</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">16,101</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">54,165</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Intangibles acquired
</div></td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">273</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">273</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Foreign currency translation effects
</div></td>
<td> </td>
<td> </td>
<td align="right">950</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">90</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,040</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at January 1, 2011
</div></td>
<td> </td>
<td> </td>
<td align="right">39,014</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">16,464</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">55,478</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Intangibles acquired
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>105</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>105</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Intangibles disposed
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(11</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(11</b></td>
<td nowrap="nowrap"><b>)</b></td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Foreign currency translation effects
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>874</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>88</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>962</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 18, 2011
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>39,888</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>16,646</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>56,534</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note4_table1 - us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="58%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">January 1,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Foreign currency translation adjustments
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>18,846</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">11,548</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">4,532</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Fair value of foreign exchange contracts, net of taxes
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(1,753</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,815</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">1,816</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Pension adjustments, net of taxes
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(50,856</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(50,856</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(53,737</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Accumulated other comprehensive income (loss)
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"><b>$</b></td>
<td align="right"><b>(33,763</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(41,123</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left">$</td>
<td align="right">(47,389</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
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<!-- Begin Block Tagged Note Table: www-20110618_note4_table2 - us-gaap:ScheduleOfComprehensiveIncomeLossTableTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net earnings
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right"><b>23,963</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">17,222</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>59,843</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">44,681</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Other comprehensive income (loss):
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:30px; text-indent:-15px">Foreign currency translation adjustments
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>159</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,042</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right"><b>7,298</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(9,945</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:30px; text-indent:-15px">Change in fair value of foreign
exchange contracts, net of taxes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>1,367</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,227</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>62</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">5,362</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Comprehensive income
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right"><b>25,489</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">18,407</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>67,203</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">40,098</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
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<!-- Begin Block Tagged Note Table: www-20110618_note5_table1 - us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended June 18, 2011</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Branded</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Footwear,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Apparel and</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Other</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Licensing</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Business Units</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Corporate</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Consolidated</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>275,278</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>34,861</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>310,139</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>10,883</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>508</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>11,391</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>39,481</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>2,522</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(9,739</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td> </td>
<td align="right"><b>32,264</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>637,928</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>63,022</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>132,547</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>833,497</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended June 18, 2011</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Branded</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Footwear,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Apparel and</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>Other</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Licensing</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Business Units</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Corporate</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Consolidated</b></td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>579,594</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>61,418</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>641,012</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>19,906</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>873</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>20,779</b></td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>98,940</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>1,464</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(18,315</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td> </td>
<td align="right"><b>82,089</b></td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>637,928</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>63,022</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>132,547</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>833,497</b></td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">12 Weeks Ended June 19, 2010</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Branded</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Footwear,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Apparel and</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Other</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Licensing</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Business Units</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Corporate</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Consolidated</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">225,147</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">33,052</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">258,199</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right">9,149</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">777</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">9,926</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right">31,330</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,237</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(9,308</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">24,259</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right">520,097</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">43,393</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">121,850</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">685,340</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">24 Weeks Ended June 19, 2010</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Branded</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Footwear,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Apparel and</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Other</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Licensing</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Business Units</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Corporate</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Consolidated</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Revenue
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">486,785</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">56,311</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">543,096</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Intersegment revenue
</div></td>
<td> </td>
<td> </td>
<td align="right">16,568</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,506</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">18,074</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Earnings (loss) before income taxes
</div></td>
<td> </td>
<td> </td>
<td align="right">79,246</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">845</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(17,159</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td> </td>
<td align="right">62,932</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Total assets
</div></td>
<td> </td>
<td> </td>
<td align="right">520,097</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">43,393</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">121,850</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">685,340</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note7_table1 - us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><b>June 18,</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">June 19,</td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected market price volatility <sup style="font-size: 85%; vertical-align: text-top">(1)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>38.5</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">37.2</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>38.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">37.9</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Risk-free interest rate <sup style="font-size: 85%; vertical-align: text-top">(2)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">2.1</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.8</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.9</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Dividend yield <sup style="font-size: 85%; vertical-align: text-top">(3)</sup>
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.7</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>1.6</b></td>
<td nowrap="nowrap"><b>%</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">1.9</td>
<td nowrap="nowrap">%</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected term <sup style="font-size: 85%; vertical-align: text-top">(4)</sup>
</div></td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right"><b>4 years</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right">4 years</td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right"><b>4 years</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="right">4 years</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
<table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left">
<tr style="font-size: 6pt">
<td width="3%"> </td>
<td width="1%"> </td>
<td width="96%"> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(1)</td>
<td> </td>
<td>
<div style="text-align: justify">Based on historical volatility of the Company’s common stock. The expected volatility is based on the
daily percentage change in the price of the stock over the four years prior to the grant.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(2)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the U.S. Treasury yield curve in effect for the expected term of the option at the time of grant.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(3)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the Company’s cash dividend yield for the expected term.
</div></td>
</tr>
<tr style="font-size: 3pt">
<td> </td>
</tr>
<tr valign="top">
<td nowrap="nowrap" align="left">(4)</td>
<td> </td>
<td>
<div style="text-align: justify">Represents the period of time that options granted are expected to be outstanding. As part of the
determination of the expected term, the Company concluded that all employee groups exhibit similar exercise
and post-vesting termination behavior.
</div></td>
</tr>
</table>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note8_table1 - us-gaap:ScheduleOfNetBenefitCostsTableTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="44%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>12 Weeks Ended</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000"><b>24 Weeks Ended</b></td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>June 18, 2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 19, 2010</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>June 18, 2011</b></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 19, 2010</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Service cost pertaining to benefits
earned during the period
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>1,500</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,322</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>3,000</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,644</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Interest cost on projected benefit obligations
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>3,075</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,936</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>6,150</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">5,871</td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Expected return on pension assets
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(3,323</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,877</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(6,646</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(5,754</td>
<td nowrap="nowrap">)</td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Net amortization loss
</div></td>
<td> </td>
<td> </td>
<td align="right"><b>2,787</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,378</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right"><b>5,574</b></td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,756</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Net pension expense
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>4,039</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,759</td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>8,078</b></td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">7,517</td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note9_table1 - us-gaap:RecordedUnconditionalPurchaseObligationsTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="28%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2012</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2013</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2014</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2015</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Thereafter</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Minimum royalties
</div></td>
<td> </td>
<td> </td>
<td align="right">1,693</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">880</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">898</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">916</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">934</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">953</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Minimum advertising
</div></td>
<td> </td>
<td> </td>
<td align="right">2,091</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,999</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,059</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,121</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">2,184</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,169</td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note Table: www-20110618_note10_table1 - us-gaap:ScheduleOfRestructuringReserveByTypeOfCostTextBlock-->
<div align="justify" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif">
<div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; ">
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="58%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Severance and</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2">Facility exit costs</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"> </td>
<td> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">employee related</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">and other</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 19, 2010
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">1,324</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,016</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">3,340</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Amounts paid or utilized
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(1,037</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(989</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">(2,026</td>
<td nowrap="nowrap">)</td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at January 1, 2011
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">287</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,027</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">1,314</td>
<td> </td>
</tr>
<tr valign="bottom">
<td>
<div style="margin-left:15px; text-indent:-15px">Amounts paid or utilized
</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(287</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(386</b></td>
<td nowrap="nowrap"><b>)</b></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right"><b>(673</b></td>
<td nowrap="nowrap"><b>)</b></td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td>
<td> </td>
</tr>
<tr valign="bottom" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Balance at June 18, 2011
</div></td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>—</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>641</b></td>
<td> </td>
<td> </td>
<td align="left"><b>$</b></td>
<td align="right"><b>641</b></td>
<td> </td>
</tr>
<tr style="font-size: 1px">
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td>
<td> </td>
</tr>
<!-- End Table Body -->
</table>
</div>
</div>
</div>
false
--12-31
Q2
2011
2011-06-18
10-Q
0000110471
49284946
Yes
Large Accelerated Filer
1398615588
WOLVERINE WORLD WIDE INC /DE/
No
Yes
43038000
64080000
72599000
183221000
196457000
226739000
5367000
6586000
8782000
2778000
2746000
5454000
15907000
26848000
16342000
235348000
207167000
215820000
1816000
-1815000
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53737000
50856000
50856000
4532000
11548000
18846000
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-33763000
94316000
108286000
126682000
795000
473000
1281000
669000
1451000
767000
14217000
11413000
10237000
15000
6000
31000
12000
989145
851533
289369
379231
685340000
121850000
43393000
520097000
786575000
833497000
132547000
63022000
637928000
484742000
580134000
621071000
160439000
110120000
150400000
118478000
-50319000
-31922000
2408000
991000
1595000
595000
36323000
36042000
37718000
0.22
0.11
0.24
0.12
1
1
1
160000000
160000000
160000000
63678277
63976387
64860785
63678000
63976000
64861000
40098000
18407000
67203000
25489000
320420000
154093000
381096000
188022000
5558000
4410000
4317000
-649000
-1093000
9941000
13225000
13264000
35690000
37602000
38620000
-4756000
-2378000
-5574000
-2787000
5754000
2877000
6646000
3323000
5871000
2936000
6150000
3075000
7517000
3759000
8078000
4039000
2644000
1322000
3000000
1500000
7059000
7082000
0.91
0.35
1.23
0.49
0.89
0.35
1.20
0.48
-4197000
3393000
1557000
791000
2370000
1318000
873000
1770000
1988000
1227000
38064000
39014000
39888000
950000
874000
221270000
103681000
259916000
122117000
62932000
-17159000
845000
79246000
24259000
31330000
2237000
-9308000
82089000
1464000
-18315000
98940000
32264000
-9739000
2522000
39481000
18251000
7037000
22246000
8301000
1276000
7671000
21639000
28369000
-11856000
2708000
15693000
38398000
-1214000
1160000
-2041000
-9464000
1043953
1056525
1311765
1342848
16101000
16464000
16646000
273000
105000
16101000
16464000
16646000
90000
88000
-11000
155363000
188647000
227289000
170773000
208655000
249871000
15410000
20008000
22582000
685340000
786575000
833497000
110105000
141155000
162469000
0
0
20000000
492000
517000
539000
492000
517000
0
up to 336 days
-50463000
-5004000
-5992000
-10592000
10333000
-19719000
44681000
17222000
59843000
23963000
44011000
16949000
58851000
23560000
44026000
16955000
58882000
23572000
-250000
-391000
-747000
-1102000
91900000
113368000
63182000
24650000
82836000
33366000
37139000
37046000
36094000
3865000
2922000
2815000
5362000
3227000
62000
1367000
-9945000
-2042000
7298000
159000
203000
676000
1555000
555000
10598000
12911000
13293000
-8510000
224000
-165000
-395000
-393000
-973000
890000
1410000
47193000
23146000
6912000
673000
10799000
11194000
5102000
9182000
2044000
2018000
2018000
80476000
83685000
59155000
10400000
31800000
7517000
8078000
10687000
11397000
12719000
7529000
9336000
20000000
305903000
281564000
292559000
70555000
74397000
76739000
953000
4169000
2184000
934000
2121000
916000
1999000
880000
898000
2059000
1693000
2091000
2239000
1823000
3340000
1324000
2016000
1314000
1027000
287000
641000
0
641000
3340000
1314000
641000
-2026000
-989000
-1037000
-673000
-386000
287000
740472000
789684000
837920000
18074000
1506000
16568000
9926000
777000
9149000
20779000
19906000
873000
11391000
508000
10883000
1467000
728000
1664000
710000
543096000
486785000
56311000
258199000
225147000
33052000
641012000
61418000
579594000
310139000
275278000
34861000
155260000
76720000
177080000
88751000
5110000
2555000
7377000
4095000
0.019
0.017
0.016
0.016
4
4
4
4
0.379
0.372
0.386
0.385
0.019
0.021
0.018
0.016
6.94
10.45
478111000
543897000
594263000
21081
17328
9528
5563
1017829
154658
895116
147797
14822207
14976835
15632031
372966000
376926000
401437000
49250038
48968303
49242544
49291666
49376607
49160001
49366041
49439698
-1170522
-1248223
-1435262
-1490880
670000
273000
992000
403000
54165000
55478000
56534000
-11000
1040000
962000
273000
105000
85000
-4000
354000
129000
45
1
92
130043000
132044000
135687000
1454000
686000
1995000
913000
1406000
425000
3087000
1943000
0
0
0.06
0.04
0
0
2828000
2311000
4234000
2736000
0
0
1632000
1337000
0.03
0.03
48206085
47911778
47930779
47948818