• Q3 net loss of US$24.4m
  • Sales down 0.5%
Gymboree reported a net loss of US$24.4m

Gymboree reported a net loss of US$24.4m

Tax impacts and acquisition adjustments pushed The Gymboree Corporation to a net loss in the third quarter, while sales declined.

The children's apparel retailer reported a net loss of US$24.4m in the three months ended 2 November. This compared to a profit of $4.9m a year earlier.

Adjusted for items such as losses on asset disposal, write-downs and acquisition-related adjustments, EBTIDA was down 27.7% to $33.9m.

Revenues for the quarter were $309.8m, a decrease of 0.5% compared to $311.5m for the same quarter last year. Comparable sales were down 4% .

For the fiscal year ending 1 February, the company expects adjusted EBITDA to be in the range of $125m to $130m. Comparable sales are forecast to be down mid-single digits compared to last year.