Exhibit 99.1

J. C. PENNEY COMPANY, INC.

(Debtor-in-Possession)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

     Month Ended     Nine Months Ended  
(In millions)    October 31,
2020
    November 2,
2019
    October 31,
2020
    November 2,
2019
 

Total net sales

   $ 479   $ 764   $ 4,147   $ 7,332

Credit income and other

     30     36     266     342
  

 

 

   

 

 

   

 

 

   

 

 

 

Total revenues

     509     800     4,413     7,674

Costs and expenses/(income):

        

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

     334     455     2,909     4,756

Selling, general and administrative (SG&A)

     198     261     1,621     2,580

Depreciation and amortization

     46     41     462     415

Real estate and other, net

     2           (6     (3

Restructuring and management transition

     7     4     236     36
  

 

 

   

 

 

   

 

 

   

 

 

 

Total costs and expenses

     587     761     5,222     7,784
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income/(loss)

     (78     39     (809     (110

Other components of net periodic pension cost/(income)

     8     (4     44     (39

(Gain) / loss on extinguishment of debt

                       (1

Net interest expense

     28     25     238     220

Loss due to discontinuance of hedge accounting

                 77      

Reorganization items, net

     42           210      
  

 

 

   

 

 

   

 

 

   

 

 

 

Income/(loss) before income taxes

     (156     18     (1,378     (290

Income tax expense/(benefit)

           (3     (66     5
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income/(loss)

   $ (156   $ 21   $ (1,312   $ (295
  

 

 

   

 

 

   

 

 

   

 

 

 

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 31,
2020
    November 2,
2019
    February 1,
2020
 

Assets

      

Current assets:

      

Cash in banks and in transit

   $ 195   $ 147   $ 108

Cash short-term investments

     476     10     278

Restricted cash

     515            
  

 

 

   

 

 

   

 

 

 

Cash, cash equivalents and restricted cash

     1,186     157     386

Merchandise inventory

     1,907     2,934     2,166

Prepaid expenses and other

     610     285     174
  

 

 

   

 

 

   

 

 

 

Total current assets

     3,703     3,376     2,726

Property and equipment, net

     3,037     3,548     3,488

Operating lease assets

     753     942     998

Prepaid pension

     16     175     120

Other assets

     625     658     657
  

 

 

   

 

 

   

 

 

 

Total assets

   $ 8,134   $ 8,699   $ 7,989
  

 

 

   

 

 

   

 

 

 

Liabilities and stockholders’ equity

      

Current liabilities:

      

Merchandise accounts payable

   $ 252   $ 1,105   $ 786

Other accounts payable and accrued expenses

     805     899     931

Current operating lease liabilities

           78     68

Debtor-in-possession financing

     900            

Current portion of long-term debt, net

     1,264     147     147
  

 

 

   

 

 

   

 

 

 

Total current liabilities

     3,221     2,229     1,932

Noncurrent operating lease liabilities

           1,112     1,108

Long-term debt

           4,011     3,574

Deferred taxes

     41     117     116

Other liabilities

     284     362     430
  

 

 

   

 

 

   

 

 

 

Total liabilities not subject to compromise

     3,546     7,831     7,160
  

 

 

   

 

 

   

 

 

 

Liabilities subject to compromise

     5,063            

Stockholders’ (deficit) equity

      

Common stock

     161     160     160

Additional paid-in capital

     4,721     4,720     4,723

Reinvested earnings/(accumulated deficit)

     (4,981     (3,694     (3,667

Accumulated other comprehensive income/(loss)

     (376     (318     (387
  

 

 

   

 

 

   

 

 

 

Total stockholders’ (deficit) equity

     (475     868     829
  

 

 

   

 

 

   

 

 

 

Total liabilities and stockholders’ (deficit) equity

   $ 8,134   $ 8,699   $ 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)

                         (1,156           (1,156

Discontinuance of hedge accounting

                               64     64

Other comprehensive income/(loss)

                               (35     (35

Stock-based compensation and other

     2.3      1      (2     (1           (2
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

October 3, 2020

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

Net income/(loss)

                         (156           (156

Other comprehensive income/(loss)

                               (16     (16

Stock-based compensation and other

                         (1     (2     (3
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

October 31, 2020

     322.8    $ 161    $ 4,721   $ (4,981   $ (376   $ (475
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

(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)

                         (316           (316

Other comprehensive income/(loss)

                               (39     (39

Stock-based compensation and other

     2.3      1      10     (2           9
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

October 5, 2019

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

Net income/(loss)

                         21           21

Other comprehensive income/(loss)

                               (4     (4

Stock-based compensation and other

     1.6      1      (3     2            
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

November 2, 2019

     320.0    $ 160    $ 4,720   $ (3,694   $ (318   $ 868
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

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     Nine Months Ended  
(In millions)    October 31, 2020     November 2, 2019     October 31, 2020     November 2, 2019  

Cash flows from operating activities:

        

Net income/(loss)

   $ (156   $ 21   $ (1,312   $ (295

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

        

Restructuring and management transition

     18           163     20

Reorganization items, net

     11           28      

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

     46     41     462     415

Benefit plans

     10     (3     59     (44

Stock-based compensation

                 (2     9

Deferred taxes

           (6     (66     (5

Change in cash from:

        

Inventory

     (67     (145     259     (497

Prepaid expenses and other assets

     (7     (27     (428     (109

Merchandise accounts payable

     (26     (40     (42     258

Income taxes

           4           3

Accrued expenses and other

     5     31     4     (61
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) operating activities

     (166     (124     (798     (306
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash flows from investing activities:

        

Capital expenditures

     (2     (29     (59     (226

Proceeds from sale of non-operating assets

                       1

Proceeds from sale of operating assets

     2           12     14

Insurance proceeds received for damage to property and equipment

     1           1      
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) investing activities

     1     (29     (46     (211
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash flows from financing activities:

        

Proceeds from debtor-in-possession financing

                 450      

Proceeds from borrowings under the credit facility

     8     552     2,735     1,827

Payments of borrowings under the credit facility

           (385     (1,471     (1,398

Payments of finance leases and note payable

           (1     (1     (2

Payments of long-term debt

                 (19     (86

Debtor-in-possession financing fees

                 (50      

Proceeds from stock issued under stock plans

                       1

Tax withholding payments for vested restricted stock

           (1           (1
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by/(used in) financing activities

     8     165     1,644     341
  

 

 

   

 

 

   

 

 

   

 

 

 

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

     (157     12     800     (176

Cash, cash equivalents and restricted cash at beginning of period

     1,343     145     386     333
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash, cash equivalents and restricted cash at end of period

   $ 1,186   $ 157   $ 1,186   $ 157
  

 

 

   

 

 

   

 

 

   

 

 

 

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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October 2020 Sales by Store Group # of Stores >=1.10mm $19 13 1.05-1.10mm $6 6 1.00-1.05mm $3 3 0.95-1.00mm $9 9 0.90-0.95mm $10 11 0.85-0.90mm $14 16 Sales 0.80-0.85mm $18 22 2020 0.75-0.80mm $17 22 0.70-0.75mm $20 27 0.65-0.70mm $25 38 October 0.60-0.65mm $16 26 by 0.55-0.60mm $28 49 0.50-0.55mm $28 53 Grouped 0.45-0.50mm $33 70 0.40-0.45mm $28 65 0.35-0.40mm $22 59 Stores 0.30-0.35mm $25 76 0.25-0.30mm $16 57 0.20-0.25mm $12 54 0.15-0.20mm $7 42 0.10-0.15mm $5 37 0.05-0.10mm $5 64 0.00-0.05mm $1 26 <0.00mm ($0) 1 $— $5 $10 $15 $20 $25 $30 $35 $40 Aggregate Store Group October 2020 Sales ($ in mm) October 2020 4-Wall EBITDA(1) by Store Group # of Stores >=0.35mm $1 2 0.30-0.35mm $1 2 EBITDA 0.25-0.30mm $-—- Wall    4—0.20-0.25mm $0 2 2020    0.15-0.20mm $1 October 6 by 0.10-0.15mm $3 23 Grouped 0.05-0.10mm $4 60 Stores 0.00-0.05mm $4 214 (0.05)-0.00mm ($6) 272 <(0.05)mm ($30) 265 ($40) ($35) ($30) ($25) ($20) ($15) ($10) ($5) $— $5 $10 Aggregate Store Group October 2020 4-Wall EBITDA ($ 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. October 2020 Operating Profit(1) by Store Group # of Stores >=0.35mm $2 4 0.30-0.35mm $1 3 Profit 0.25-0.30mm $1 4 Operating 0.20-0.25mm $1 6 2020    October 0.15-0.20mm $4 24 by 0.10-0.15mm $5 42 Grouped 0.05-0.10mm $9 123 Stores 0.00-0.05mm $6 261 (0.05)-0.00mm ($4) 188 <(0.05)mm ($22) 191 ($25) ($20) ($15) ($10) ($5) $— $5 $10 $15 Aggregate Store Group October 2020 Operating Profit ($ 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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October 2020 Controllable Expense(1) by Store Group # of Stores 141 >=0.08mm $15 72 0.07-0.08mm $5 Expense 88 0.06-0.07mm $6 0.05-0.06mm 97 Controllable $5    129 2020 0.04-0.05mm $6 October 0.03-0.04mm $4 100 by Grouped 0.02-0.03mm $2 77 Stores 0.01-0.02mm $2 102 0.00-0.01mm $0 33 <0.00mm ($0) 7 ($2) $— $2 $4 $6 $8 $10 $12 $14 $16 Aggregate Store Group October 2020 Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. October 2020 Noncontrollable Expense(1) by Store Group # of Stores >=0.08mm $26 219 0.07-0.08mm $5 65 Expense 0.06-0.07mm $5 73 0.05-0.06mm $6 111 Noncontrollable 0.04-0.05mm $4 86 2020 0.03-0.04mm $4 104 October 0.02-0.03mm $2 83 by    0.01-0.02mm $1 69 Grouped 0.00-0.01mm $0 21 Stores <0.00mm ($2) 15 ($5) $— $5 $10 $15 $20 $25 $30 Aggregate Store Group October 2020 Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. October 2020 Gross Margin by Store Group # of Stores >=0.40mm $7 14 0.35-0.40mm $4 10 Margin 0.30-0.35mm $4 12 Gross    0.25-0.30mm $11 41 2020    October 0.20-0.25mm $16 71 by 0.15-0.20mm $27 157 Grouped 0.10-0.15mm $24 193 Stores 0.05-0.10mm $13 173 0.00-0.05mm $1 43 <0.00mm ($9) 132 ($15) ($10) ($5) $— $5 $10 $15 $20 $25 $30 Aggregate Store Group October 2020 Gross Margin ($ in mm)


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October 2019 Sales by Store Group # of Stores >=1.10mm $229 163 1.05-1.10mm $13 12 1.00-1.05mm $39 38 0.95-1.00mm $33 34 0.90-0.95mm $37 40 Sales 0.85-0.90mm $39 44 2019 0.80-0.85mm $35 43 0.75-0.80mm $26 33 0.70-0.75mm $34 47 October 0.65-0.70mm $16 24 by 0.60-0.65mm $22 35 0.55-0.60mm $24 42 0.50-0.55mm $22 43 Grouped 0.45-0.50mm $18 37 0.40-0.45mm $17 39 Stores 0.35-0.40mm $9 24 0.30-0.35mm $11 34 0.25-0.30mm $14 50 0.20-0.25mm $11 48 0.15-0.20mm $3 14 0.10-0.15mm $-—-0.05-0.10mm $0 1 0.00-0.05mm $0 1 <0.00mm $-—- $— $50 $100 $150 $200 $250 Aggregate Store Group October 2019 Sales ($ in mm) October 2019 4-Wall EBITDA(1) by Store Group # of Stores >=0.35mm $13 28 0.30-0.35mm $9 28 EBITDA 0.25-0.30mm $16 58 Wall —4 0.20-0.25mm $22 97 2019    October 0.15-0.20mm $22 127 by 0.10-0.15mm $23 189 Grouped 0.05-0.10mm $15 193 Stores 0.00-0.05mm $4 116 (0.05)-0.00mm ($0) 8 <(0.05)mm ($1) 2 ($5) $— $5 $10 $15 $20 $25 Aggregate Store Group October 2019 4-Wall EBITDA ($ 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. October 2019 Operating Profit(1) by Store Group # of Stores >=0.35mm $30 67 Profit 0.30-0.35mm $16 49 0.25-0.30mm $24 88 Operating 0.20-0.25mm $21 2019 96 0.15-0.20mm $25 October 143 0.10-0.15mm $21 by 167 Grouped 0.05-0.10mm $13 173 Stores 0.00-0.05mm $2 56 (0.05)-0.00mm ($0) 6 <(0.05)mm ($1) 1 ($5) $— $5 $10 $15 $20 $25 $30 $35 Aggregate Store Group October 2019 Operating Profit ($ 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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October 2019 Controllable Expense(1) by Store Group # of Stores 456 >=0.08mm $57 54 Expense 0.07-0.08mm $4    84 0.06-0.07mm $5 56 Controllable 0.05-0.06mm $3 47 2019 0.04-0.05mm $2 0.03-0.04mm 57 October $2 by    80 Grouped 0.02-0.03mm $2 Stores 0.01-0.02mm $0 12 0.00-0.01mm $-—- <0.00mm $-—- $— $10 $20 $30 $40 $50 $60 Aggregate Store Group October 2019 Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. October 2019 Noncontrollable Expense(1) by Store Group # of Stores >=0.08mm $44 355 Expense 0.07-0.08mm $7 99 0.06-0.07mm $4 65 Noncontrollable 0.05-0.06mm $4 68 2019 0.04-0.05mm $4 83 October 0.03-0.04mm $3 85 by 0.02-0.03mm $2 78 Grouped 0.01-0.02mm $0 11 Stores    0.00-0.01mm $0 1 <0.00mm ($0) 1 ($5) $— $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 Aggregate Store Group October 2019 Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. October 2019 Gross Margin by Store Group # of Stores >=0.40mm $164 298 0.35-0.40mm $35 94 Margin 0.30-0.35mm $28 87 Gross 0.25-0.30mm $22 79 2019    October 0.20-0.25mm $19 82 by 0.15-0.20mm $13 74 Grouped 0.10-0.15mm $13 104 Stores 0.05-0.10mm $2 26 0.00-0.05mm $0 2 <0.00mm $0 — $— $20 $40 $60 $80 $100 $120 $140 $160 $180 Aggregate Store Group October 2019 Gross Margin ($ in mm)


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October 2020 YTD Sales by Store Group # of Stores >=4.40mm $1,487 258 4.20-4.40mm $172 40 4.00-4.20mm $94 23 3.80-4.00mm $156 40 3.60-3.80mm $122 33 Sales 3.40-3.60mm $101 29 YTD 3.20-3.40mm $138 42 3.00-3.20mm $111 36 2020 2.80-3.00mm $130 45 2.60-2.80mm $124 46 2.40-2.60mm $107 43 October 2.20-2.40mm $105 46 by 2.00-2.20mm $106 50 1.80-2.00mm $95 50 Grouped 1.60-1.80mm $59 35 1.40-1.60mm $20 13 Stores 1.20-1.40mm $17 13 1.00-1.20mm $2 2 0.80-1.00mm $-—-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 $1,400 $1,600 Aggregate Store Group October 2020 YTD Sales ($ in mm) October 2020 YTD 4-Wall EBITDA(1) by Store Group # of Stores >=0.70mm $38 42 0.60-0.70mm $21 32 EBITDA 0.50-0.60mm $30 54 Wall —4 0.40-0.50mm $33 74 YTD    0.30-0.40mm $33 2020 95 October 0.20-0.30mm $26 104 by Grouped 0.10-0.20mm $14 95 0.00-0.10mm $4 78 Stores (0.10)-0.00mm ($3) 64 <(0.10)mm ($93) 208 ($110) ($90) ($70) ($50) ($30) ($10) $10 $30 $50 Aggregate Store Group October 2020 YTD 4-Wall EBITDA ($ 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. October 2020 YTD Operating Profit(1) by Store Group # of Stores >=0.70mm $155 156 0.60-0.70mm $39 61 Profit 0.50-0.60mm $50 91 Operating 0.40-0.50mm $40 90 YTD    2020 0.30-0.40mm $34 97 October 0.20-0.30mm $23 92 by    0.10-0.20mm $10 67 Grouped 0.00-0.10mm $3 Stores 49 (0.10)-0.00mm ($3) 63 <(0.10)mm ($39) 80 ($50) $— $50 $100 $150 $200 Aggregate Store Group October 2020 YTD Operating Profit ($ 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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October 2020 YTD Controllable Expense(1) by Store Group # of Stores 25 >=0.80mm $26 23 0.70-0.80mm $17 Expense 73 0.60-0.70mm $47 108 Controllable 0.50-0.60mm $59    149 YTD 0.40-0.50mm $67 2020    October 0.30-0.40mm $63 179 by 0.20-0.30mm $37 143 Grouped 0.10-0.20mm $20 134 Stores 0.00-0.10mm $1 12 <0.00mm $-—- $— $10 $20 $30 $40 $50 $60 $70 $80 Aggregate Store Group October 2020 YTD Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. October 2020 YTD Noncontrollable Expense(1) by Store Group # of Stores >=0.80mm $128 108 Expense 0.70-0.80mm $44 59 0.60-0.70mm $44 68 Noncontrollable 0.50-0.60mm $55 101 YTD 0.40-0.50mm $61 136 2020    October 0.30-0.40mm $51 147 by 0.20-0.30mm $41 166 Grouped 0.10-0.20mm $10 58 Stores 0.00-0.10mm $0 3 <0.00mm $-—- $— $20 $40 $60 $80 $100 $120 $140 Aggregate Store Group October 2020 YTD Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. October 2020 YTD Gross Margin by Store Group # of Stores >=4.00mm $9 2 3.50-4.00mm $-—-Margin 3.00-3.50mm $31 10 Gross    YTD 2.50-3.00mm $40 15 2020 2.00-2.50mm $136 61 October 1.50-2.00mm $284 164 by    Grouped 1.00-1.50mm $349 287 0.50-1.00mm $231 Stores 292 0.00-0.50mm $6 15 <0.00mm $-—- $— $50 $100 $150 $200 $250 $300 $350 $400 Aggregate Store Group October 2020 YTD Gross Margin ($ in mm)


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October 2019 YTD Sales by Store Group # of Stores >=4.40mm $5,690 628 4.20-4.40mm $86 20 4.00-4.20mm $53 13 3.80-4.00mm $63 16 3.60-3.80mm $41 11 3.40-3.60mm $45 13 Sales 3.20-3.40mm $16 5 YTD 3.00-3.20mm $37 12 2.80-3.00mm $40 14 2019 2.60-2.80mm $46 17 2.40-2.60mm $55 22 October 2.20-2.40mm $53 23 2.00-2.20mm $46 by 22 1.80-2.00mm $33 17 1.60-1.80mm $12 7 Grouped 1.40-1.60mm $6 4 1.20-1.40mm $1 1 Stores 1.00-1.20mm $-—-0.80-1.00mm $-—-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 $6,000 Aggregate Store Group October 2019 YTD Sales ($ in mm) October 2019 YTD 4-Wall EBITDA(1) by Store Group # of Stores >=0.70mm $637 459 0.60-0.70mm $35 54 EBITDA 0.50-0.60mm $31 57 Wall —4 0.40-0.50mm $23 52 YTD    2019 0.30-0.40mm $24 69 October 0.20-0.30mm $16 64 by    0.10-0.20mm $8 52 Grouped 0.00-0.10mm $1 Stores 22 (0.10)-0.00mm ($0) 7 <(0.10)mm ($12) 10 ($100) $— $100 $200 $300 $400 $500 $600 $700 Aggregate Store Group October 2019 YTD 4-Wall EBITDA ($ 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. October 2019 YTD Operating Profit(1) by Store Group # of Stores >=0.70mm $930 578 0.60-0.70mm $28 43 Profit 0.50-0.60mm $25 46 Operating 0.40-0.50mm $26 58 YTD    2019 0.30-0.40mm $17 48 October 0.20-0.30mm $11 45 by    0.10-0.20mm $3    18 Grouped 0.00-0.10mm $0 4 Stores (0.10)-0.00mm ($0) 2 <(0.10)mm ($10) 4 ($200) $— $200 $400 $600 $800 $1,000 Aggregate Store Group October 2019 YTD Operating Profit ($ 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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October 2019 YTD Controllable Expense(1) by Store Group # of Stores 453 >=0.80mm $550 67 Expense 0.70-0.80mm $50    0.60-0.70mm $43 66 65 Controllable 0.50-0.60mm $36 YTD 44 0.40-0.50mm $20 2019 70 October 0.30-0.40mm $24 by 78 0.20-0.30mm $20 0.10-0.20mm 3 Grouped $0 Stores 0.00-0.10mm $-—-<0.00mm $-—- $— $100 $200 $300 $400 $500 $600 Aggregate Store Group October 2019 YTD Controllable Expense ($ in mm) (1) Controllable expenses include store salaries, facilities expenses and utilities expenses, among others. October 2019 YTD Noncontrollable Expense(1) by Store Group # of Stores >=0.80mm $452 362 Expense 0.70-0.80mm $68 91 0.60-0.70mm $43 66 Noncontrollable 0.50-0.60mm $41 74 YTD 0.40-0.50mm $36 81 2019    0.30-0.40mm $27 76 October 0.20-0.30mm $21 84 by    Grouped 0.10-0.20mm $2 11 Stores 0.00-0.10mm $0 1 <0.00mm $-—- $— $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 Aggregate Store Group October 2019 YTD Noncontrollable Expense ($ in mm) (1)Noncontrollable expenses include expenses relating to marketing, display, maintenance and repairs, among others. October 2019 YTD Gross Margin by Store Group # of Stores >=4.00mm $917 171 3.50-4.00mm $342 92 Margin 3.00-3.50mm $317 97 Gross 2.50-3.00mm $298 108 YTD 2019 2.00-2.50mm $244 109 October 1.50-2.00mm $168 97 by    1.00-1.50mm $108 Grouped 89 Stores 0.50-1.00mm $68 82 0.00-0.50mm $0 1 <0.00mm $-—- $— $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 Aggregate Store Group October 2019 YTD Gross Margin ($ in mm)