Exhibit 99.2

TrueBlue, Inc.

2009 ASSUMPTIONS

(Unaudited)

 

     2009
Estimates

Branches in operation on June 26, 2009

   775

Branches closed year to date

   77

Revenue loss from announced branch closings

   -6%

Reduction in SG&A from branch closures in 2008 & 2009

   $30 M

Revenue growth from 2008 acquisitions

   1%

Incremental SG&A from 2008 acquisitions

   $3 M

Variable SG&A associated with same branch revenue

   6%

Gross Margin

   28.5% - 29.0%

Depreciation & Amortization

   $17.5 M

Capital Expenditures

   $15 M

Income Taxes

  

Statutory income tax rate

   39%

Tax credits net of non-deductable items

   $0.3 M

Weighted Average Diluted Share Count

   43 M


TrueBlue, Inc.

Analysis of Revenue Growth / (Decline)

(Unaudited)

 

     Thirteen Weeks Ended     Twenty-Six Weeks Ended  
     June 26,
2009
    June 27,
2008
    June 26,
2009
    June 27,
2008
 

Major Revenue Trends

        

Organic revenue growth / (decline)

   -34.2   -12.2   -32.9   -8.1

Acquisitions within last 12 months

   0.8   17.8   0.8   16.4
                        

Total revenue growth / (decline)

   -33.4   5.6   -32.1   8.3
                        

Organic Revenue Trends*

        

Same branch

   -27.4   -10.5   -29.6   -6.7

New branches

   0.2   0.9   0.2   1.1

Closed branches

   -8.2   -3.3   -6.7   -3.2

Currency

   -0.4   0.3   -0.6   0.3

Holiday shift

   -0.4   0.4   0.0   0.0

 

* Percentages for organic revenue components do not sum to total organic revenue growth as same branch growth is determined off a revenue base of branches open for 12 or more months, whereas other organic revenue growth components are measured off a total revenue base.

TrueBlue, Inc.

Analysis of Year-Over-Year Same Branch Revenue Growth / (Decline)

(Unaudited)

 

     Same Branch
Growth/ (Decline)
 

January 2009 same branch sales growth

   -30.2

February 2009 same branch sales growth

   -31.9

March 2009 same branch sales growth

   -35.3

April 2009 same branch sales growth

   -31.2

May 2009 same branch sales growth

   -29.3

June 2009 same branch sales growth

   -23.9