Exhibit 99.1

J. C. PENNEY COMPANY, INC.

(Debtor-in-Possession)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

     Month Ended     Eight Months Ended  
(In millions)    October 3,
2020
    October 5,
2019
    October 3,
2020
    October 5,
2019
 

Total net sales

   $ 528     $ 652     $ 3,668     $ 6,568  

Credit income and other

     27       38       236       306  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

     555       690       3,904       6,874  

Costs and expenses/(income):

        

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

     384       408       2,575       4,301  

Selling, general and administrative (SG&A)

     180       263       1,423       2,319  

Depreciation and amortization

     43       42       416       374  

Real estate and other, net

                 (8     (3

Restructuring and management transition

     5             229       32  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total costs and expenses

     612       713       4,635       7,023  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income/(loss)

     (57     (23     (731     (149

Other components of net periodic pension cost/(income)

     (9     (4     36       (35

(Gain) / loss on extinguishment of debt

                       (1

Net interest expense

     30       21       210       195  

Loss due to discontinuance of hedge accounting

                 77        

Reorganization items, net

     22             168        
  

 

 

   

 

 

   

 

 

   

 

 

 

Income/(loss) before income taxes

     (100     (40     (1,222     (308

Income tax expense/(benefit)

           1       (66     8  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income/(loss)

   $ (100   $ (41   $ (1,156   $ (316
  

 

 

   

 

 

   

 

 

   

 

 

 

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)    October 3,
2020
    October 5,
2019
    February 1,
2020
 

Assets

      

Current assets:

      

Cash in banks and in transit

   $ 219     $ 137     $ 108  

Cash short-term investments

     633       8       278  

Restricted cash

     491              
  

 

 

   

 

 

   

 

 

 

Cash, cash equivalents and restricted cash

     1,343       145       386  

Merchandise inventory

     1,841       2,789       2,166  

Prepaid expenses and other

     605       275       174  
  

 

 

   

 

 

   

 

 

 

Total current assets

     3,789       3,209       2,726  

Property and equipment, net

     3,073       3,549       3,488  

Operating lease assets

     783       921       998  

Prepaid pension

     42       172       120  

Other assets

     631       657       657  
  

 

 

   

 

 

   

 

 

 

Total assets

   $ 8,318     $ 8,508     $ 7,989  
  

 

 

   

 

 

   

 

 

 

Liabilities and stockholders’ equity

      

Current liabilities:

      

Merchandise accounts payable

   $ 275     $ 1,145     $ 786  

Other accounts payable and accrued expenses

     847       876       931  

Current operating lease liabilities

           83       68  

Debtor-in-possession financing

     900              

Current portion of long-term debt, net

     1,256       147       147  
  

 

 

   

 

 

   

 

 

 

Total current liabilities

     3,278       2,251       1,932  

Noncurrent operating lease liabilities

           1,083       1,108  

Long-term debt

           3,843       3,574  

Deferred taxes

     40       123       116  

Other liabilities

     248       357       430  
  

 

 

   

 

 

   

 

 

 

Total liabilities not subject to compromise

     3,566       7,657       7,160  
  

 

 

   

 

 

   

 

 

 

Liabilities subject to compromise

     5,052              

Stockholders’ (deficit) equity

      

Common stock

     161       159       160  

Additional paid-in capital

     4,721       4,723       4,723  

Reinvested earnings/(accumulated deficit)

     (4,824     (3,717     (3,667

Accumulated other comprehensive income/(loss)

     (358     (314     (387
  

 

 

   

 

 

   

 

 

 

Total stockholders’ (deficit) equity

     (300     851       829  
  

 

 

   

 

 

   

 

 

 

Total liabilities and stockholders’ (deficit) equity

   $ 8,318     $ 8,508     $ 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’ (DEFICIT) 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)

                         (1,056           (1,056

Discontinuance of hedge accounting

                               64       64  

Other comprehensive income/(loss)

                               (35     (35

Stock-based compensation and other

     2.2        1        (2     (2           (3
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

September 5, 2020

     322.7        161        4,721       (4,725     (358     (201

Net income/(loss)

                         (100           (100

Stock-based compensation and other

     0.1                     1             1  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

October 3, 2020

     322.8      $ 161      $ 4,721     $ (4,824   $ (358   $ (300
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

(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)

                          (275           (275

Other comprehensive income/(loss)

                                (39     (39

Stock-based compensation and other

     1.7        1        8        (1           8  
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

September 7, 2019

     317.8        159        4,721        (3,675     (314     891  

Net income/(loss)

                          (41           (41

Stock-based compensation and other

     0.6               2        (1           1  
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

October 5, 2019

     318.4      $ 159      $ 4,723      $ (3,717   $ (314   $ 851  
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

 

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     Eight Months Ended  
(In millions)    October 3,
2020
    October 5,
2019
    October 3,
2020
    October 5,
2019
 

Cash flows from operating activities:

        

Net income/(loss)

   $ (100   $ (41   $ (1,156   $ (316

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

        

Restructuring and management transition

     (17           145       20  

Reorganization items, net

                 17        

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

                       (1

Net (gain)/loss on sale of operating assets

                       2  

Discontinuance of hedge accounting

                 77        

(Gain)/loss on extinguishment of debt

                       (1

Depreciation and amortization

     43       42       416       374  

Benefit plans

     (7     (5     49       (41

Stock-based compensation

           1       (2     9  

Deferred taxes

     1       1       (66     1  

Change in cash from:

        

Inventory

     (36     (275     326       (352

Prepaid expenses and other assets

     (64     29       (421     (82

Merchandise accounts payable

     18       112       (16     298  

Income taxes

           (1           (1

Accrued expenses and other

     95       (50     (1     (92
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) operating activities

     (67     (187     (632     (182
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash flows from investing activities:

        

Capital expenditures

     (8     (22     (57     (197

Proceeds from sale of non-operating assets

                       1  

Proceeds from sale of operating assets

     7             10       14  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) investing activities

     (1     (22     (47     (182
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash flows from financing activities:

        

Proceeds from debtor-in-possession financing

                 450        

Proceeds from borrowings under the credit facility

           314       2,727       1,275  

Payments of borrowings under the credit facility

           (52     (1,471     (1,013

Payments of finance leases and note payable

                 (1     (1

Payments of long-term debt

           (60     (19     (86

Debtor-in-possession financing fees

                 (50      

Proceeds from stock issued under stock plans

                       1  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) financing activities

           202       1,636       176  
  

 

 

   

 

 

   

 

 

   

 

 

 

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

     (68     (7     957       (188

Cash, cash equivalents and restricted cash at beginning of period

     1,411       152       386       333  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash, cash equivalents and restricted cash at end of period

   $ 1,343     $ 145     $ 1,343     $ 145  
  

 

 

   

 

 

   

 

 

   

 

 

 

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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September 2020 Sales by Store Group # of Stores >=1.10mm $31 22 1.05 1.10mm $6 6 1.00 1.05mm $6 6 0.95 1.00mm $12 12 0.90 0.95mm $8 9 0.85 0.90mm $19 22 Sales 0.80 0.85mm $25 30 2020 0.75 0.80mm $22 28 0.70 0.75mm $15 21 0.65 0.70mm $20 30 0.60 0.65mm $31 50 September 0.55 0.60mm $37 65 by 0.50 0.55mm $35 66 0.45 0.50mm $30 64 0.40 0.45mm $37 87 Grouped 0.35 0.40mm $33 88 0.30 0.35mm $29 89 Stores 0.25 0.30mm $19 69 0.20 0.25mm $9 39 0.15 0.20mm $5 30 0.10 0.15mm $0 1 0.05 0.10mm $0 2 0.00 0.05mm $0 9 <0.00mm ($0) 1 $ $5 $10 $15 $20 $25 $30 $35 $40 Aggregate Store Group September 2020 Sales ($ in mm) September 2020 4 Wall EBITDA(1) by Store Group # of Stores >=0.35mm $0 1 0.30 0.35mm $ EBITDA 0.25 0.30mm $1 3 Wall 4 0.20 0.25mm $0 2 2020 0.15 0.20mm $1 8 September 0.10 0.15mm $2 20 by Grouped 0.05 0.10mm $7 98 0.00 0.05mm $7 341 Stores (0.05) 0.00mm ($5) 236 <(0.05)mm ($13) 137 ($30) ($25) ($20) ($15) ($10) ($5) $ $5 $10 Aggregate Store Group September 2020 4 Wall EBITDA ($ 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. September 2020 Operating Profit(1) by Store Group # of Stores >=0.35mm $0 1 0.30 0.35mm $1 2 Profit 0.25 0.30mm $1 2 Operating 0.20 0.25mm $2 7 2020 0.15 0.20mm $4 21 September 0.10 0.15mm $6 49 by 0.05 0.10mm $12 176 Grouped 0.00 0.05mm $8 331 Stores (0.05) 0.00mm ($4) 186 <(0.05)mm ($6) 71 ($10) ($5) $ $5 $10 $15 Aggregate Store Group September 2020 Operating Profit ($ 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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September 2020 Controllable Expense(1) by Store Group # of Stores 182 >=0.08mm $19 103 0.07 0.08mm $8 Expense 0.06 0.07mm 101 $7 Controllable 0.05 0.06mm $7 120 2020 0.04 0.05mm $6 126 0.03 0.04mm $3 93 September 0.02 0.03mm $2 77 by Grouped 0.01 0.02mm $1 37 Stores 0.00 0.01mm $0 2 <0.00mm ($0) 5 ($5) $ $5 $10 $15 $20 Aggregate Store Group September 2020 Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. September 2020 Noncontrollable Expense(1) by Store Group # of Stores >=0.08mm $14 123 0.07 0.08mm $4 50 Expense 0.06 0.07mm $5 74 0.05 0.06mm $5 96 0.04 0.05mm $6 125 Noncontrollable 0.03 0.04mm $6 173 2020 0.02 0.03mm $3 131 September 0.01 0.02mm $1 45 by Grouped 0.00 0.01mm $0 10 Stores <0.00mm ($0) 19 ($2) $ $2 $4 $6 $8 $10 $12 $14 $16 Aggregate Store Group September 2020 Noncontrollable Expense ($ in mm) (1) Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. September 2020 Gross Margin by Store Group # of Stores >=0.40mm $4 8 0.35 0.40mm $5 13 Margin 0.30 0.35mm $5 16 Gross 0.25 0.30mm $10 35 2020 0.20 0.25mm $15 69 September 0.15 0.20mm $27 155 by Grouped 0.10 0.15mm $30 238 Stores 0.05 0.10mm $21 263 0.00 0.05mm $1 36 <0.00mm ($0) 13 ($5) $ $5 $10 $15 $20 $25 $30 $35 Aggregate Store Group September 2020 Gross Margin ($ in mm)


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September 2019 Sales by Store Group # of Stores >=1.10mm $150 111 1.05 1.10mm $23 21 1.00 1.05mm $20 20 0.95 1.00mm $17 18 0.90 0.95mm $21 23 Sales 0.85 0.90mm $31 36 0.80 0.85mm $39 47 2019 0.75 0.80mm $31 40 0.70 0.75mm $35 48 0.65 0.70mm $30 44 September 0.60 0.65mm $29 46 by 0.55 0.60mm $24 42 0.50 0.55mm $24 46 0.45 0.50mm $20 42 Grouped 0.40 0.45mm $16 39 0.35 0.40mm $19 50 Stores 0.30 0.35mm $11 35 0.25 0.30mm $8 29 0.20 0.25mm $14 62 0.15 0.20mm $7 39 0.10 0.15mm $1 6 0.05 0.10mm $ 0.00 0.05mm $0 2 <0.00mm $ $ $20 $40 $60 $80 $100 $120 $140 $160 Aggregate Store Group September 2019 Sales ($ in mm) September 2019 4 Wall EBITDA(1) by Store Group # of Stores >=0.35mm $2 4 0.30 0.35mm $2 6 EBITDA 0.25 0.30mm $4 15 Wall 4 0.20 0.25mm $6 26 2019 0.15 0.20mm $9 55 September 0.10 0.15mm $14 113 by 0.05 0.10mm $15 209 Grouped 0.00 0.05mm $8 311 Stores (0.05) 0.00mm ($1) 84 <(0.05)mm ($4) 23 ($5) $ $5 $10 $15 $20 Aggregate Store Group September 2019 4 Wall EBITDA ($ 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. September 2019 Operating Profit(1) by Store Group # of Stores >=0.35mm $6 14 Profit 0.30 0.35mm $5 15 0.25 0.30mm $8 30 Operating 0.20 0.25mm $9 38 2019 0.15 0.20mm $18 102 September 0.10 0.15mm $19 152 by Grouped 0.05 0.10mm $16 223 0.00 0.05mm $6 226 Stores (0.05) 0.00mm ($1) 34 <(0.05)mm ($2) 12 ($5) $ $5 $10 $15 $20 Aggregate Store Group September 2019 Operating Profit ($ 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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September 2019 Controllable Expense(1) by Store Group # of Stores 441 >=0.08mm $54 66 0.07 0.08mm $5 Expense 77 0.06 0.07mm $5 66 Controllable 0.05 0.06mm $4 35 2019 0.04 0.05mm $2 0.03 0.04mm 70 September $2 by 0.02 0.03mm $2 77 Grouped 0.01 0.02mm $0 13 Stores 0.00 0.01mm $0 1 <0.00mm $ $ $10 $20 $30 $40 $50 $60 Aggregate Store Group September 2019 Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. September 2019 Noncontrollable Expense(1) by Store Group # of Stores >=0.08mm $52 402 Expense 0.07 0.08mm $6 76 0.06 0.07mm $4 61 0.05 0.06mm $4 75 Noncontrollable 0.04 0.05mm $3 77 2019 0.03 0.04mm $3 80 September 0.02 0.03mm $2 64 by Grouped 0.01 0.02mm $0 6 Stores 0.00 0.01mm $0 2 <0.00mm ($0) 3 ($10) $ $10 $20 $30 $40 $50 $60 Aggregate Store Group September 2019 Noncontrollable Expense ($ in mm) (1) Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. September 2019 Gross Margin by Store Group # of Stores >=0.40mm $83 159 0.35 0.40mm $25 68 Margin 0.30 0.35mm $28 86 Gross 0.25 0.30mm $29 105 2019 0.20 0.25mm $27 120 September 0.15 0.20mm $19 110 by 0.10 0.15mm $12 101 Grouped 0.05 0.10mm $7 88 Stores 0.00 0.05mm $0 7 <0.00mm ($0) 2 ($10) $ $10 $20 $30 $40 $50 $60 $70 $80 $90 Aggregate Store Group September 2019 Gross Margin ($ in mm)


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September 2020 YTD Sales by Store Group # of Stores >=4.40mm $966 176 4.20 4.40mm $103 24 4.00 4.20mm $102 25 3.80 4.00mm $186 48 3.60 3.80mm $141 38 Sales 3.40 3.60mm $129 37 3.20 3.40mm $119 36 YTD 3.00 3.20mm $131 42 2020 2.80 3.00mm $130 45 2.60 2.80mm $118 44 2.40 2.60mm $152 61 2.20 2.40mm $99 43 September 2.00 2.20mm $141 67 by 1.80 2.00mm $108 57 1.60 1.80mm $75 44 1.40 1.60mm $45 30 Grouped 1.20 1.40mm $21 16 1.00 1.20mm $11 10 Stores 0.80 1.00mm $1 1 0.60 0.80mm $1 1 0.40 0.60mm $ 0.20 0.40mm $0 1 0.00 0.20mm $ <0.00mm $ $ $200 $400 $600 $800 $1,000 $1,200 Aggregate Store Group September 2020 YTD Sales ($ in mm) September 2020 YTD 4 Wall EBITDA(1) by Store Group # of Stores >=0.70mm $31 36 0.60 0.70mm $28 43 EBITDA 0.50 0.60mm $30 55 Wall 0.40 0.50mm $42 92 4 YTD 0.30 0.40mm $31 88 2020 0.20 0.30mm $23 91 September 0.10 0.20mm $16 102 by Grouped 0.00 0.10mm $5 87 (0.10) 0.00mm ($3) Stores 67 <(0.10)mm ($76) 185 ($100) ($80) ($60) ($40) ($20) $ $20 $40 $60 Aggregate Store Group September 2020 YTD 4 Wall EBITDA ($ 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. September 2020 YTD Operating Profit(1) by Store Group # of Stores >=0.70mm $134 142 0.60 0.70mm $47 73 Profit 0.50 0.60mm $54 98 Operating 0.40 0.50mm $43 96 YTD 2020 0.30 0.40mm $29 81 0.20 0.30mm $23 93 September 0.10 0.20mm $13 87 by Grouped 0.00 0.10mm $3 56 Stores (0.10) 0.00mm ($2) 47 <(0.10)mm ($33) 73 ($60) ($40) ($20) $ $20 $40 $60 $80 $100 $120 $140 $160 Aggregate Store Group September 2020 YTD Operating Profit ($ 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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September 2020 YTD Controllable Expense(1) by Store Group # of Stores 11 >=0.80mm $12 11 0.70 0.80mm $8 Expense 25 0.60 0.70mm $16 99 Controllable 0.50 0.60mm $54 YTD 0.40 0.50mm $65 148 2020 180 0.30 0.40mm $62 September 0.20 0.30mm $50 199 by 147 0.10 0.20mm $22 Grouped 0.00 0.10mm $2 26 Stores <0.00mm $ $ $10 $20 $30 $40 $50 $60 $70 Aggregate Store Group September 2020 YTD Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. September 2020 YTD Noncontrollable Expense(1) by Store Group # of Stores >=0.80mm $87 71 Expense 0.70 0.80mm $31 42 0.60 0.70mm $40 62 Noncontrollable 0.50 0.60mm $48 88 YTD 0.40 0.50mm $56 124 2020 0.30 0.40mm $58 165 September 0.20 0.30mm $46 185 by 0.10 0.20mm 105 $18 Grouped 0.00 0.10mm $0 4 Stores <0.00mm $ $ $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 Aggregate Store Group September 2020 YTD Noncontrollable Expense ($ in mm) (1) Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. September 2020 YTD Gross Margin by Store Group # of Stores >=4.00mm $ 3.50 4.00mm $7 2 Margin 3.00 3.50mm $ Gross YTD 2.50 3.00mm $40 15 2020 2.00 2.50mm $80 36 September 1.50 2.00mm $228 133 by 1.00 1.50mm $349 288 Grouped 0.50 1.00mm $271 343 Stores 0.00 0.50mm $12 29 <0.00mm $ $ $50 $100 $150 $200 $250 $300 $350 $400 Aggregate Store Group September 2020 YTD Gross Margin ($ in mm)


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September 2019 YTD Sales by Store Group # of Stores >=4.40mm $4,944 589 4.20 4.40mm $86 20 4.00 4.20mm $58 14 3.80 4.00mm $74 19 3.60 3.80mm $67 18 3.40 3.60mm $63 18 Sales 3.20 3.40mm $39 12 YTD 3.00 3.20mm $37 12 2.80 3.00mm $29 10 2019 2.60 2.80mm $24 9 2.40 2.60mm $52 21 2.20 2.40mm $46 20 2.00 2.20mm $57 27 September 1.80 2.00mm $46 24 by 1.60 1.80mm $34 20 1.40 1.60mm $12 8 1.20 1.40mm $4 3 Grouped 1.00 1.20mm $1 1 0.80 1.00mm $ Stores 0.60 0.80mm $ 0.40 0.60mm $ 0.20 0.40mm $0 1 0.00 0.20mm $ <0.00mm $ $ $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 Aggregate Store Group September 2019 YTD Sales ($ in mm) September 2019 YTD 4 Wall EBITDA(1) by Store Group # of Stores >=0.70mm $497 388 0.60 0.70mm $40 61 EBITDA 0.50 0.60mm $32 58 Wall 0.40 0.50mm $26 59 4 YTD 0.30 0.40mm $28 81 2019 0.20 0.30mm $18 70 September 0.10 0.20mm $11 69 by Grouped 0.00 0.10mm $2 35 Stores (0.10) 0.00mm ($0) 13 <(0.10)mm ($12) 12 ($100) $ $100 $200 $300 $400 $500 $600 Aggregate Store Group September 2019 YTD 4 Wall EBITDA ($ 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. September 2019 YTD Operating Profit(1) by Store Group # of Stores >=0.70mm $760 520 0.60 0.70mm $35 53 Profit 0.50 0.60mm $25 47 Operating 0.40 0.50mm $24 54 YTD 0.30 0.40mm $24 69 2019 0.20 0.30mm $14 58 September 0.10 0.20mm $5 31 by 0.00 0.10mm Grouped $0 5 Stores (0.10) 0.00mm ($0) 4 <(0.10)mm ($9) 5 ($100) $ $100 $200 $300 $400 $500 $600 $700 $800 Aggregate Store Group September 2019 YTD Operating Profit ($ 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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September 2019 YTD Controllable Expense(1) by Store Group # of Stores 390 >=0.80mm $445 77 Expense 0.70 0.80mm $58 0.60 0.70mm $48 74 76 Controllable 0.50 0.60mm $42 56 YTD 0.40 0.50mm $26 2019 54 0.30 0.40mm $19 100 September 0.20 0.30mm $26 by 0.10 0.20mm $3 18 Grouped 0.00 0.10mm $0 1 Stores <0.00mm $ $ $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 Aggregate Store Group September 2019 YTD Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. September 2019 YTD Noncontrollable Expense(1) by Store Group # of Stores >=0.80mm $357 296 Expense 0.70 0.80mm $65 87 0.60 0.70mm $59 90 Noncontrollable 0.50 0.60mm $42 77 YTD 0.40 0.50mm $39 88 2019 0.30 0.40mm $29 82 September 0.20 0.30mm $25 101 by 0.10 0.20mm $4 24 Grouped 0.00 0.10mm $0 1 Stores <0.00mm $ $ $50 $100 $150 $200 $250 $300 $350 $400 Aggregate Store Group September 2019 YTD Noncontrollable Expense ($ in mm) (1) Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. September 2019 YTD Gross Margin by Store Group # of Stores >=4.00mm $614 119 3.50 4.00mm $213 57 Margin 3.00 3.50mm $314 97 Gross 2.50 3.00mm $343 124 YTD 2019 2.00 2.50mm $267 119 September 1.50 2.00mm $199 114 by 1.00 1.50mm $121 95 Grouped 0.50 1.00mm $94 117 Stores 0.00 0.50mm $1 4 <0.00mm $ $ $100 $200 $300 $400 $500 $600 $700 Aggregate Store Group September 2019 YTD Gross Margin ($ in mm)