Exhibit 99.1

J. C. PENNEY COMPANY, INC.

(Debtor-in-Possession)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

     Month Ended     Six Months Ended  
(In millions)    August 1,
2020
    August 3,
2019
    August 1,
2020
    August 3,
2019
 

Total net sales

   $ 542     $ 769     $ 2,472     $ 4,948  

Credit income and other

     22       40       183       226  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

     564       809       2,655       5,174  

Costs and expenses/(income):

        

Cost of goods sold (exclusive of depreciation and amortization shown separately below)

     417       470       1,730       3,215  

Selling, general and administrative (SG&A)

     177       283       1,025       1,726  

Depreciation and amortization

     42       41       269       284  

Real estate and other, net

     (2     (1     (7     (2

Restructuring and management transition

     52       5       217       27  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total costs and expenses

     686       798       3,234       5,250  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income/(loss)

     (122     11       (579     (76

Other components of net periodic pension cost/(income)

     93       (4     54       (26

Gain on extinguishment of debt

                       (1

Net interest expense

     22       25       144       147  

Loss due to discontinuance of hedge accounting

                 77        

Reorganization items, net

     37             126        
  

 

 

   

 

 

   

 

 

   

 

 

 

Income/(loss) before income taxes

     (274     (10     (980     (196

Income tax expense/(benefit)

     (8     2       (67     6  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income/(loss)

   $ (266   $ (12   $ (913   $ (202
  

 

 

   

 

 

   

 

 

   

 

 

 

Note: The financial statements presented are internal monthly financial statements within a fiscal quarter, do not include certain quarterly adjustments and other important explanatory notes, and have not been audited or reviewed by any independent public accounting firm. Quarterly financial statements are subject to internal controls over financial reporting performed only with respect to quarterly financial statements. Consequently, these monthly financial statements may be subject to future reconciliation or adjustments to conform to generally accepted accounting principles or reporting requirements of the SEC and may not be representative of our financial position or indicative of future operating results or cash flows.


J. C. PENNEY COMPANY, INC.

(Debtor-in-Possession)

CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

(In millions)    August 1,
2020
    August 3,
2019
    February 1,
2020
 

Assets

      

Current assets:

      

Cash in banks and in transit

   $ 205     $ 163     $ 108  

Cash short-term investments

     826       12       278  

Restricted cash

     452              
  

 

 

   

 

 

   

 

 

 

Cash, cash equivalents and restricted cash

     1,483       175       386  

Merchandise inventory

     1,894       2,471       2,166  

Prepaid expenses and other

     461       275       174  
  

 

 

   

 

 

   

 

 

 

Total current assets

     3,838       2,921       2,726  

Property and equipment, net

     3,205       3,591       3,488  

Operating lease assets

     800       925       998  

Prepaid pension

     27       166       120  

Other assets

     597       657       657  
  

 

 

   

 

 

   

 

 

 

Total assets

   $ 8,467     $ 8,260     $ 7,989  
  

 

 

   

 

 

   

 

 

 

Liabilities and stockholders’ equity

      

Current liabilities:

      

Merchandise accounts payable

   $ 240     $ 878     $ 786  

Other accounts payable and accrued expenses

     752       970       931  

Current operating lease liabilities

     73       84       68  

Debtor-in-possession financing

     900              

Current portion of long-term debt, net

     1,204       197       147  
  

 

 

   

 

 

   

 

 

 

Total current liabilities

     3,169       2,129       1,932  

Noncurrent operating lease liabilities

     927       1,090       1,108  

Long-term debt

           3,589       3,574  

Deferred taxes

     104       121       116  

Other liabilities

     251       368       430  

Liabilities subject to compromise

     4,075              
  

 

 

   

 

 

   

 

 

 

Total liabilities

     8,526       7,297       7,160  
  

 

 

   

 

 

   

 

 

 

Stockholders’ (deficit) equity

      

Common stock

     161       159       160  

Additional paid-in capital

     4,721       4,719       4,723  

Reinvested earnings/(accumulated deficit)

     (4,582     (3,601     (3,667

Accumulated other comprehensive income/(loss)

     (359     (314     (387
  

 

 

   

 

 

   

 

 

 

Total stockholders’ (deficit) equity

     (59     963       829  
  

 

 

   

 

 

   

 

 

 

Total liabilities and stockholders’ (deficit) equity

   $ 8,467     $ 8,260     $ 7,989  
  

 

 

   

 

 

   

 

 

 

Note: The financial statements presented are internal monthly financial statements within a fiscal quarter, do not include certain quarterly adjustments and other important explanatory notes, and have not been audited or reviewed by any independent public accounting firm. Quarterly financial statements are subject to internal controls over financial reporting performed only with respect to quarterly financial statements. Consequently, these monthly financial statements may be subject to future reconciliation or adjustments to conform to generally accepted accounting principles or reporting requirements of the SEC and may not be representative of our financial position or indicative of future operating results or cash flows.


J. C. PENNEY COMPANY, INC.

(Debtor-in-Possession)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

 

(In millions)    Number of
Common
Shares
     Common
Stock
     Additional
Paid-in Capital
    Reinvested
Earnings/(Accumulated
Deficit)
    Accumulated
Other
Comprehensive
Income/(Loss)
    Total
Stockholders’
(Deficit)/
Equity
 

February 1, 2020

     320.5      $ 160      $ 4,723     $ (3,667   $ (387   $ 829  

Net income/(loss)

                         (647           (647

Discontinuance of hedge accounting

                               63       63  

Other comprehensive income/(loss)

                               2       2  

Stock-based compensation and other

     1.9        1        (2     (2           (3
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

July 4, 2020

     322.4        161        4,721       (4,316     (322     244  

Net income/(loss)

                         (266           (266

Other comprehensive income/(loss)

                               (37     (37
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

August 1, 2020

     322.4      $ 161      $ 4,721     $ (4,582   $ (359   $ (59
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 
(In millions)    Number of
Common
Shares
     Common
Stock
     Additional
Paid-in Capital
    Reinvested
Earnings/(Accumulated
Deficit)
    Accumulated
Other
Comprehensive
Income/(Loss)
    Total
Stockholders’
Equity
 

February 2, 2019

     316.1      $ 158      $ 4,713     $ (3,373   $ (328   $ 1,170  

ASC 842 (Leases) and ASU 2018-02 (Stranded Taxes) adoption

                         (26     53       27  

Net income/(loss)

                         (190           (190

Other comprehensive income/(loss)

                               (11     (11

Stock-based compensation and other

     1.5        1        7       (1           7  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

July 6, 2019

     317.6        159        4,720       (3,590     (286     1,003  

Net income/(loss)

                         (12           (12

Other comprehensive income/(loss)

                               (28     (28

Stock-based compensation and other

     0.1               (1     1              
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

August 3, 2019

     317.7      $ 159      $ 4,719     $ (3,601   $ (314   $ 963  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Note: The financial statements presented are internal monthly financial statements within a fiscal quarter, do not include certain quarterly adjustments and other important explanatory notes, and have not been audited or reviewed by any independent public accounting firm. Quarterly financial statements are subject to internal controls over financial reporting performed only with respect to quarterly financial statements. Consequently, these monthly financial statements may be subject to future reconciliation or adjustments to conform to generally accepted accounting principles or reporting requirements of the SEC and may not be representative of our financial position or indicative of future operating results or cash flows.


J. C. PENNEY COMPANY, INC.

(Debtor-in-Possession)

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

     Month Ended     Six Months Ended  
(In millions)    August 1,
2020
    August 3,
2019
    August 1,
2020
    August 3,
2019
 

Cash flows from operating activities:

        

Net income/(loss)

   $ (266   $ (12   $ (913   $ (202

Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:

        

Restructuring and management transition

     13       2       152       17  

Reorganization items, net

     (15           (15      

Net (gain)/loss on sale of non-operating assets

                       (1

Net (gain)/loss on sale of operating assets

                       3  

Discontinuance of hedge accounting

                 77        

(Gain)/loss on extinguishment of debt

                       (1

Depreciation and amortization

     42       41       269       284  

Benefit plans

     95       (2     63       (29

Stock-based compensation

     1       1       (2     6  

Deferred taxes

           2       (60      

Change in cash from:

        

Inventory

     122       (138     272       (34

Prepaid expenses and other assets

     20       45       (283     (82

Merchandise accounts payable

     (10     134       (43     31  

Income taxes

                 (1      

Accrued expenses and other

     (4     77       30       9  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) operating activities

     (2     150       (454     1  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash flows from investing activities:

        

Capital expenditures

     (4     (24     (43     (146

Proceeds from sale of non-operating assets

                       1  

Proceeds from sale of operating assets

     1             1       12  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) investing activities

     (3     (24     (42     (133
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash flows from financing activities:

        

Proceeds from debtor-in-possession financing

     225             450        

Proceeds from borrowings under the credit facility

           49       1,984       946  

Payments of borrowings under the credit facility

           (174     (771     (946

Payments of finance leases and note payable

                 (1     (1

Payments of long-term debt

                 (19     (26

Debtor-in-possession financing costs

                 (50      

Proceeds from stock issued under stock plans

                       1  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) financing activities

     225       (125     1,593       (26
  

 

 

   

 

 

   

 

 

   

 

 

 

Net increase/(decrease) in cash, cash equivalents and restricted cash

     220       1       1,097       (158

Cash and cash equivalents at beginning of period

     1,263       174       386       333  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash, cash equivalents and restricted cash at end of period

   $ 1,483     $ 175     $ 1,483     $ 175  
  

 

 

   

 

 

   

 

 

   

 

 

 

Note: The financial statements presented are internal monthly financial statements within a fiscal quarter, do not include certain quarterly adjustments and other important explanatory notes, and have not been audited or reviewed by any independent public accounting firm. Quarterly financial statements are subject to internal controls over financial reporting performed only with respect to quarterly financial statements. Consequently, these monthly financial statements may be subject to future reconciliation or adjustments to conform to generally accepted accounting principles or reporting requirements of the SEC and may not be representative of our financial position or indicative of future operating results or cash flows.


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July 2020 Sales by Store Group # of Stores >=1.10mm $18 13 1.05-1.10mm $5 5 1.00-1.05mm $7 7 0.95-1.00mm $7 7 0.90-0.95mm $5 5 0.85-0.90mm $16 18 0.80-0.85mm $21 26 0.75-0.80mm $18 23 Sales 0.70-0.75mm $17 24 0.65-0.70mm $27 40 2020 0.60-0.65mm $36 57 July 0.55-0.60mm $26 45 by 0.50-0.55mm $43 82 0.45-0.50mm $39 82 0.40-0.45mm $42 98 Grouped 0.35-0.40mm $35 93 0.30-0.35mm $27 82 Stores 0.25-0.30mm $20 72 0.20-0.25mm $9 41 0.15-0.20mm $3 19 0.10-0.15mm $0 2 0.05-0.10mm $0 0 0.00-0.05mm $0 4 <0.00mm 1 —5 10 15 20 25 30 35 40 45 50 Aggregate Store Group July 2020 Sales ($ in mm) July 2020 4-Wall EBITDA(1) by Store Group # of Stores >=0.35mm $3 7 0.30-0.35mm $3 8 0.25-0.30mm $4 16 EBITDA 0.20-0.25mm $4 20 Wall 0.15-0.20mm $15 86 4—2020 0.10-0.15mm $19 151 July by 0.05-0.10mm $20 276 Grouped 0.00-0.05mm $6 217 Stores (0.05)-0.00mm ($1) 52 <(0.05)mm ($3) 13 (10) (5)—5 10 15 20 25 Aggregate Store Group July 2020 4-Wall EBITDA ($ in mm) (1) 4-Wall EBITDA is an internal store performance metric, which excludes most corporate overhead and other fixed allocated    costs. Monthly 4-Wall EBITDA numbers do not reflect certain allocations made only on an annual basis. July 2020 Operating Profit(1) by Store Group # of Stores >=0.35mm $5 13 0.30-0.35mm $4 12 0.25-0.30mm $4 13 Profit 0.20-0.25mm $12 56 Operating 0.15-0.20mm $19 112 2020 0.10-0.15mm $25 202 July 0.05-0.10mm $20 by 268 Grouped 0.00-0.05mm $4 135 (0.05)-0.00mm ($0) Stores 24 <(0.05)mm ($3) 11 (5)—5 10 15 20 25 30 Aggregate Store Group July 2020 Operating Profit ($ in mm) (1) Operating Profit is an internal store performance metric, which excludes most corporate overhead and other fixed allocated costs.    


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July 2020 Controllable Expense(1) by Store Group # of Stores 119 >=0.08mm $15 66 0.07-0.08mm $5 0.06-0.07mm 85 $5 Expense 0.05-0.06mm $6 114 0.04-0.05mm $7 145 Controllable 0.03-0.04mm $6 161 2020 101 July 0.02-0.03mm $2 by    Grouped 0.01-0.02mm $1 50 0.00-0.01mm 4 Stores $0 <0.00mm ($0) 1 (2)—2 4 6 8 10 12 14 16 Aggregate Store Group July 2020 Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. July 2020 Noncontrollable Expense(1) by Store Group # of Stores >=0.08mm $10 89 0.07-0.08mm $3 40 Expense 0.06-0.07mm $4 59 0.05-0.06mm $5 95 Noncontrollable 0.04-0.05mm $5 115 2020 0.03-0.04mm $5 132 July 0.02-0.03mm $4 146 by    Grouped 0.01-0.02mm $1 82 Stores 0.00-0.01mm $0 54 <0.00mm -$1 34 (2)—2 4 6 8 10 12 Aggregate Store Group July 2020 Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. July 2020 Gross Margin by Store Group # of Stores >=0.40mm $17 34 0.35-0.40mm $8 21 0.30-0.35mm $18 56 Margin 0.25-0.30mm $26 98 Gross 0.20-0.25mm $38 171 2020 0.15-0.20mm $38 220 July by 0.10-0.15mm $23 179 Grouped 0.05-0.10mm $5 54 Stores 0.00-0.05mm $0 7 <0.00mm ($0) 6 (5)—5 10 15 20 25 30 35 40 45 Aggregate Store Group July 2020 Gross Margin ($ in mm)


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8 July 2019 Sales by Store Group # of Stores >=1.10mm $249 171 1.05-1.10mm $31 29 1.00-1.05mm $28 27 0.95-1.00mm $28 29 0.90-0.95mm $39 42 0.85-0.90mm $35 40 0.80-0.85mm $31 38 0.75-0.80mm $28 36 Sales 0.70-0.75mm $31 42 0.65-0.70mm $22 33 2019 0.60-0.65mm $24 38 July 0.55-0.60mm $17 30 by 0.50-0.55mm $26 50 0.45-0.50mm $18 39 0.40-0.45mm $14 32 Grouped 0.35-0.40mm $12 32 0.30-0.35mm $8 25 Stores 0.25-0.30mm $13 49 0.20-0.25mm $10 46 0.15-0.20mm $3 15 0.10-0.15mm $0 0 0.05-0.10mm $0 0 0.00-0.05mm $0 3 <0.00mm $0 0 —50 100 150 200 250 300 Aggregate Store Group July 2019 Sales ($ in mm) July 2019 4-Wall EBITDA(1) by Store Group # of Stores >=0.35mm $9 22 0.30-0.35mm $7 22 0.25-0.30mm $8 30 EBITDA 0.20-0.25mm $14 60 Wall 0.15-0.20mm $17 100 4—2019 0.10-0.15mm $22 177 July by 0.05-0.10mm $16 221 Grouped 0.00-0.05mm $5 175 Stores (0.05)-0.00mm ($1) 28 <(0.05)mm ($3) 11 (5)—5 10 15 20 25 Aggregate Store Group July 2019 4-Wall EBITDA ($ in mm) (1) 4-Wall EBITDA is an internal store performance metric, which excludes most corporate overhead and other fixed allocated    costs. Monthly 4-Wall EBITDA numbers do not reflect certain allocations made only on an annual basis. July 2019 Operating Profit(1) by Store Group # of Stores >=0.35mm $23 52 0.30-0.35mm $12 36 0.25-0.30mm $14 49 Profit 0.20-0.25mm $19 86 Operating 0.15-0.20mm $24 134 2019 0.10-0.15mm $21 170 July 0.05-0.10mm $14 by 193 Grouped 0.00-0.05mm $4 109 (0.05)-0.00mm ($0) Stores 9 <(0.05)mm ($2) 8 (5)—5 10 15 20 25 Aggregate Store Group July 2019 Operating Profit ($ in mm) (1) Operating Profit is an internal store performance metric, which excludes most corporate overhead and other fixed allocated costs.        


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July 2019 Controllable Expense(1) by Store Group # of Stores 417 >=0.08mm $51 86 0.07-0.08mm $6 71 0.06-0.07mm $5 69 Expense 0.05-0.06mm $4 0.04-0.05mm 52 $2 Controllable 0.03-0.04mm 58 2019 $2    0.02-0.03mm 81 July $2 by    12 Grouped 0.01-0.02mm $0 Stores 0.00-0.01mm $0 0 <0.00mm $0 0 —10 20 30 40 50 60 Aggregate Store Group July 2019 Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. July 2019 Noncontrollable Expense(1) by Store Group # of Stores >=0.08mm $60 456 0.07-0.08mm $5 60 Expense 0.06-0.07mm $4 67 0.05-0.06mm $3 60 Noncontrollable 0.04-0.05mm $4 79 2019 0.03-0.04mm $3 75 July 0.02-0.03mm $1 45 by    Grouped 0.01-0.02mm $0 2 Stores 0.00-0.01mm $0 1 <0.00mm $0 1 (10)—10 20 30 40 50 60 70 Aggregate Store Group July 2019 Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. July 2019 Gross Margin by Store Group # of Stores >=0.40mm $141 254 0.35-0.40mm $35 94 0.30-0.35mm $30 92 Margin 0.25-0.30mm $21 77 Gross 0.20-0.25mm $22 99 2019 0.15-0.20mm $15 83 July    0.10-0.15mm $12 by 103 Grouped 0.05-0.10mm $3 37 Stores 0.00-0.05mm $0 5 <0.00mm ($0) 2 (20)—20 40 60 80 100 120 140 160 Aggregate Store Group July 2019 Gross Margin ($ in mm)    


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July 2020 YTD Sales by Store Group # of Stores >=4.40mm $81 16 4.20-4.40mm $34 8 4.00-4.20mm $49 12 3.80-4.00mm $55 14 3.60-3.80mm $59 16 3.40-3.60mm $77 22 3.20-3.40mm $92 28 3.00-3.20mm $112 36 Sales 2.80-3.00mm $122 42 2.60-2.80mm $123 46 YTD 2.40-2.60mm $142 57 2020 2.20-2.40mm $129 56 2.00-2.20mm $116 55 July 1.80-2.00mm $110 58 by 1.60-1.80mm $136 80 1.40-1.60mm $125 83 Grouped 1.20-1.40mm $104 80 1.00-1.20mm $86 77 0.80-1.00mm $40 44 Stores 0.60-0.80mm $9 13 0.40-0.60mm $1 2 0.20-0.40mm $0 0 0.00-0.20mm $0 1 <0.00mm $0 0 —20 40 60 80 100 120 140 160 Aggregate Store Group July 2020 YTD Sales ($ in mm) July 2020 YTD 4-Wall EBITDA(1) by Store Group # of Stores >=0.70mm $9 11 0.60-0.70mm $10 15 0.50-0.60mm $13 23 EBITDA 0.40-0.50mm $27 61 Wall 0.30-0.40mm $36 104 4—YTD 0.20-0.30mm $32 130 2020    July 0.10-0.20mm $22 147 by    0.00-0.10mm $8 Grouped 142 (0.10)-0.00mm ($4) 92 Stores <(0.10)mm ($47) 121 (60) (50) (40) (30) (20) (10)—10 20 30 40 50 Aggregate Store Group July 2020 YTD 4-Wall EBITDA ($ in mm) (1) 4-Wall EBITDA is an internal store performance metric, which excludes most corporate overhead and other fixed allocated    costs. Monthly 4-Wall EBITDA numbers do not reflect certain allocations made only on an annual basis. July 2020 YTD Operating Profit(1) by Store Group # of Stores >=0.70mm $56 64 0.60-0.70mm $29 45 0.50-0.60mm $36 65 Profit 0.40-0.50mm $45 103 Operating 0.30-0.40mm $46 130 YTD 0.20-0.30mm $38 151 2020 0.10-0.20mm $21 July 137 by 0.00-0.10mm $3 62 Grouped (0.10)-0.00mm ($2) 40 Stores <(0.10)mm ($24) 49 (30) (20) (10)—10 20 30 40 50 60 70 Aggregate Store Group July 2020 YTD Operating Profit ($ in mm) (1) Operating Profit is an internal store performance metric, which excludes most corporate overhead and other fixed allocated costs.


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July 2020 YTD Controllable Expense(1) by Store Group # of Stores 4 >=0.80mm $6 2 0.70-0.80mm $1 — 0.60-0.70mm $0 7 Expense 0.50-0.60mm $4 0.40-0.50mm 16 $7 Controllable 0.30-0.40mm 111 YTD $38    260 2020 0.20-0.30mm $65 July by 0.10-0.20mm $45 296 Grouped 0.00-0.10mm $10 150 Stores <0.00mm $0 0 —10 20 30 40 50 60 70 Aggregate Store Group July 2020 YTD Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. July 2020 YTD Noncontrollable Expense(1) by Store Group # of Stores >=0.80mm $38 29 0.70-0.80mm $12 16 Expense 0.60-0.70mm $20 30 0.50-0.60mm $32 59 Noncontrollable 0.40-0.50mm $45 101 YTD 0.30-0.40mm $56 162 2020 0.20-0.30mm $55 223 July by 0.10-0.20mm $32 210 Grouped 0.00-0.10mm $1 16 Stores <0.00mm $0 0 —10 20 30 40 50 60 Aggregate Store Group July 2020 YTD Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. July 2020 YTD Gross Margin by Store Group # of Stores >=4.00mm $0 --3.50-4.00mm $0 --3.00-3.50mm $0 — Margin 2.50-3.00mm $0 —Gross 2.00-2.50mm $9 4 YTD 1.50-2.00mm $78 46 2020 1.00-1.50mm July $231 193 by    Grouped 0.50-1.00mm $348 479 Stores 0.00-0.50mm $50 124 <0.00mm $0 0 —50 100 150 200 250 300 350 400 Aggregate Store Group July 2020 YTD Gross Margin ($ in mm)


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July 2019 YTD Sales by Store Group # of Stores >=4.40mm $3,232 465 4.20-4.40mm $86 20 4.00-4.20mm $90 22 3.80-4.00mm $74 19 3.60-3.80mm $92 25 3.40-3.60mm $98 28 3.20-3.40mm $60 18 3.00-3.20mm $90 29 Sales 2.80-3.00mm $69 24 2.60-2.80mm $73 27 YTD 2.40-2.60mm $25 10 2019 2.20-2.40mm $37 16 2.00-2.20mm $35 17 July 1.80-2.00mm $36 19 by 1.60-1.80mm $46 27 1.40-1.60mm $59 39 Grouped 1.20-1.40mm $37 28 1.00-1.20mm $12 11 0.80-1.00mm $0 0 Stores 0.60-0.80mm $0 0 0.40-0.60mm $0 0 0.20-0.40mm $0 1 0.00-0.20mm $0 1 <0.00mm $0 0 —500 1,000 1,500 2,000 2,500 3,000 3,500 Aggregate Store Group July 2019 YTD Sales ($ in mm) July 2019 YTD 4-Wall EBITDA(1) by Store Group # of Stores >=0.70mm $350 303 0.60-0.70mm $46 71 0.50-0.60mm $44 80 EBITDA 0.40-0.50mm $29 64 Wall 0.30-0.40mm $32 93 4—YTD 0.20-0.30mm $23 94 2019    July 0.10-0.20mm $13 82 by    0.00-0.10mm $3 Grouped 37 (0.10)-0.00mm ($0) 12 Stores <(0.10)mm ($9) 10 (50)—50 100 150 200 250 300 350 400 Aggregate Store Group July 2019 YTD 4-Wall EBITDA ($ in mm) (1) 4-Wall EBITDA is an internal store performance metric, which excludes most corporate overhead and other fixed allocated    costs. Monthly 4-Wall EBITDA numbers do not reflect certain allocations made only on an annual basis. July 2019 YTD Operating Profit(1) by Store Group # of Stores >=0.70mm $557 438 0.60-0.70mm $42 66 0.50-0.60mm $34 62 Profit 0.40-0.50mm $28 61 Operating 0.30-0.40mm $26 76 YTD 0.20-0.30mm $19 73 2019 0.10-0.20mm $9 July 56 by 0.00-0.10mm $0 5 Grouped (0.10)-0.00mm ($0) 3 Stores <(0.10)mm ($7) 6 (100)—100 200 300 400 500 600 Aggregate Store Group July 2019 YTD Operating Profit ($ in mm) (1) Operating Profit is an internal store performance metric, which excludes most corporate overhead and other fixed allocated costs.


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July 2019 YTD Controllable Expense(1) by Store Group # of Stores 161 >=0.80mm $169 93 0.70-0.80mm $70 120 0.60-0.70mm $78 109 Expense 0.50-0.60mm $60 99 0.40-0.50mm $45 Controllable 91 YTD 0.30-0.40mm $33    91 2019 0.20-0.30mm $22 July by 0.10-0.20mm $14 80 Grouped 0.00-0.10mm $0 2 Stores <0.00mm $0 0 —20 40 60 80 100 120 140 160 180 Aggregate Store Group July 2019 YTD Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. July 2019 YTD Noncontrollable Expense(1) by Store Group # of Stores >=0.80mm $152 132 0.70-0.80mm $54 72 Expense 0.60-0.70mm $55 85 0.50-0.60mm $64 117 Noncontrollable 0.40-0.50mm $55 121 YTD 0.30-0.40mm $37 107 2019 0.20-0.30mm $29 114 July by 0.10-0.20mm $16 96 Grouped 0.00-0.10mm $0 2 Stores <0.00mm $0 0 —20 40 60 80 100 120 140 160 Aggregate Store Group July 2019 YTD Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. July 2019 YTD Gross Margin by Store Group # of Stores >=4.00mm $192 38 3.50-4.00mm $136 37 3.00-3.50mm $165 51 Margin 2.50-3.00mm $239 88 Gross 2.00-2.50mm $351 156 YTD 1.50-2.00mm $265 152 2019 1.00-1.50mm July $199 159 by    Grouped 0.50-1.00mm $106 149 Stores 0.00-0.50mm $6 15 <0.00mm ($0) 1 (50)—50 100 150 200 250 300 350 400 Aggregate Store Group July 2019 YTD Gross Margin ($ in mm)