[b] Includes a non-cash compensation charge related to the performance-based vesting of certain shares granted to Mr. Friedman.

[c] Represents legal and other professional fees incurred in connection with our secondary offering.

[d] Includes lease termination costs for retail stores that were closed prior to their respective lease termination dates.
(In thousands)
Three Months Ended

   May 4,    2013

  April 28,   2012
Net loss $ (161 ) $ (3,728 )
Depreciation and amortization 6,630 6,424
Interest expense 840 1,575
Income tax expense (benefit)   (168 )   56  
EBITDA [a] 7,141 4,327
Management and pre-IPO board fees [b] 889
Non-cash compensation [c] 3,323 387
Secondary offering fees [d] 767
Lease termination costs [e] 575
Other [f]       (19 )
Adjusted EBITDA [a] $ 11,231   $ 6,159  

[a] EBITDA and Adjusted EBITDA are supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP. We define EBITDA as consolidated net income (loss) before depreciation and amortization, interest expense and provision for income taxes. Adjusted EBITDA reflects further adjustments to EBITDA to eliminate the impact of certain items including non-cash or other items that we do not consider representative of our ongoing financial performance. EBITDA and Adjusted EBITDA are included in this press release because they are key metrics used by management, our Board of Directors and our principal shareholders to assess our financial performance, and Adjusted EBITDA is used in connection with determining incentive compensation under our MIP. Additionally, EBITDA is frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that Adjusted EBITDA provides useful information facilitating operating performance comparisons from period to period and company to company. We use EBITDA and Adjusted EBITDA, alongside other GAAP measures such as gross profit, operating income (loss) and net income (loss), to measure profitability, as a key profitability target in our annual and other budgets, and to compare our performance against that of peer companies. EBITDA and Adjusted EBITDA are not GAAP measures of our financial performance or liquidity and should not be considered as alternatives to net income (loss), as a measure of financial performance, cash flows from operating activities, as a measure of liquidity, or any other performance measure derived in accordance with GAAP and they should not be construed as an implication that our future results will be unaffected by non-recurring and other items. Our measures of EBITDA and Adjusted EBITDA are not necessarily comparable to other similarly titled captions for other companies due to different methods of calculation.

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