Exhibit 10 Premiums Paid Analysis 1Q 1988 2Q 1988 3Q 1988 Average Premium Paid over Stock Price 1988 Rales Source: Interco Case Study # Deals One Day 4 Weeks 19 62.3% 95.5% 9 68.6% 91.3% 12 36.5% 49.9% 40 56.0% 80.9% 17.9% 59.1% Exhibit 11 Comparable Transaction Analysis a. Purchase Price Multiples by Business Segment Furniture Manufacturing Companies Purchase Price Multiples Announcement Date 12/14/1987 Aggregate Net Book Operating Operating Acquiror/Target Sales Price ($MM) Income Value Income Cash Flow La-Z-Boy/Kincaid $63.5 22.0x 2.1x 0.8x 11.7x 8.1x 11/17/1986 INTERCO/Lane 523.7 19.3 2.8 1.6 11.1 9.6 Chicago Pacific/General 8/12/1986 89.3 14.1 1.8 1.0 12.0 9.9 Mills Furniture 6/3/1986 Masco/Henredon 260.9 31.6 2.6 2.1 20.3 15.8 8/8/1988 Rales Proposal $2,941.3 18.1x 2.2x 0.9x 11.4x 9.2x Footwear Manufacturing Companies Purchase Price Multiples Announcement Aggregate Net Book Operating Operating Acquiror/Target Sales Date Price ($MM) Income Value Income Cash Flow 4/25/1988 NIKE/Cole Haan $95.0 36.2x N.M. 1.5x 14.1 12.2 6/3/1987 Moacq/Morse Shoe 312.5 2.5 1.8 0.5 13.0 9.2 3/10/1987 Reebok/AVIA 191.0 40.6 6.7 2.1 24.6 23.3 9/18/1986 Reebok/Rockport 146.1 30.7 N.M. 1.7 26.0 23.9 7/31/1986 INTERCO/Converse 202.7 37.1 1.8 0.9 24.7 18.2 8/8/1988 Rales Proposal $2.941.3 18.1x 2.2x 0.9x 11.4x 9.2x Exhibit 11 (continued) Comparable Transaction Analysis Apparel Companies Purchase Price Multiples Aggregate Net Announcement Date Acquiror/Target Price ($MM) Income Book Value Sales Operating Income Operating Cash Flow 4/28/1988 Wesray/William Carter $157.4 N.M. 1.6x 0.8x 24.0x 13.7x 2/2/1988 Salant/Manhattan Indus. 129.7 N.M. 1.4 0.4 N.M. N.M. 3/17/1986 W Acquisition/Warnco 504.7 21.0 2.5 0.9 10.6 9.2 West Point 11/4/1985 551.9 19.6 1.5 0.6 10.6 9.2 Pepperall/Cluett, Peabody 8/8/1988 Rales Proposal $2,941.3 18.1x 2.2x 0.9x 11.4x 9.2x Central Hardware Division Purchase Price Multiples Aggregate Net Announcement Date Acquiror/Target Price ($MM) Income Book Value Sales Operating Income Operating Cash Flow Management 6/24/1988 8/8/1988 $1,189.4 22.0x 2.3x 0.6x 13.1x 9.2x Group/Payless Cashways Rales Proposal $2,941.3 18.1x 2.2x 0.9x 11.4x 9.2x Exhibit 11 (continued) Comparable Transaction Analysis b. Value Ranges by Business Segment Business 1988 Segment Sales Multiple Range Value Median Range Value Apparel $ 813.2 0.4 0.9 $ 325.3 $ 731.9 $ 569.2 General retail 532.3 0.6 0.6 319.4 319.4 319.4 Footwear 890.4 0.5 2.1 445.2 1,869.8 1,335.6 Furniture 1,105.6 0.8 2.1 884.5 $ 2,321.8 $ 1,974.4 $ 5,242.9 1,437.3 $3,661.5 1988 Business Segment Multiple Operating Range Value Range Median Value Income Apparel $ 20.2 10.6 24.0 $ 214.1 $ 484.8 $214.1 General retail 39.1 13.1 13.1 Footwear 92.2 13.0 26.0 512.2 1,198.6 512.2 2,397.2 512.2 2,268.1 Furniture 149.1 11.1 20.3 $ 1,655.0 $ 3,579.9 $ 3,026.7 $ 6,420.9 1,766.8 $4,761.2 1988 Business Multiple Operating Segment Range Value Range Median Value Cash Flow Apparel $ 32.7 9.2 General retail 48.8 9.2 Footwear 105.3 9.2 Furniture 175.3 8.1 2221 13.7 9.2 $ 300.8 23.9 448.9 968.8 $ 448.0 448.9 2,516.7 $ 300.8 448.9 970.7 15.8 $ 1,419.9 $ 2,769.7 1,709.2 $ 3,138.4 $ 6,183.3 $ 3,429.6