Consolidated Balance Sheets

Financial Review 2005

(In thousands)	May 29, 2005			May 30, 2004
ASSETS Current assets:     Cash and cash equivalents	$	42,801		$	36,694
Receivables		36,510			30,258
Inventories		235,444			198,781
Prepaid expenses and other current assets		28,927			25,316
Deferred income taxes		63,584			55,258
Total current assets	$	407,266		$	346,307
Land, buildings and equipment, net		2,351,454			2,250,616
Other assets		179,051			183,425
Total assets	$	2,937,771		$	2,780,348
LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities:     Accounts payable	$	191,197		$	174,624
Short-term debt		–			14,500
Accrued payroll		114,602			103,327
Accrued income taxes		52,404			48,753
Other accrued taxes		43,825			38,440
Unearned revenues		88,472			75,513
Current portion of long-term debt		299,929			–
Other current liabilities		254,178			228,324
Total current liabilities	$	1,044,607		$	683,481
Long-term debt, less current portion		350,318			653,349
Deferred income taxes		114,846			132,690
Deferred rent		130,872			122,879
Other liabilities		24,109			12,661
Total liabilities	$	1,664,752		$	1,605,060
Stockholders’ equity:     Common stock and surplus, no par value. Authorized 500,000 shares; issued 271,102 and         264,907 shares, respectively; outstanding 154,391 and 158,431 shares, respectively	$	1,703,336		$	1,584,115
Preferred stock, no par value. Authorized 25,000 shares; none issued and outstanding		–			–
Retained earnings		1,405,754			1,127,653
Treasury stock, 116,711 and 106,476 shares, at cost, respectively		(1,784,835	)		(1,483,768	)
Accumulated other comprehensive income (loss)		(8,876	)		(10,173	)
Unearned compensation		(41,685	)		(41,401	)
Officer notes receivable		(675	)		(1,138	)
Total stockholders’ equity	$	1,273,019		$	1,175,288
Total liabilities and stockholders’ equity	$	2,937,771		$	2,780,348

See accompanying notes to consolidated financial statements.