US: Gymboree boosts Q1 earnings to US$20.9m
Retail store operator The Gymboree Corporation has posted a 12.4% rise in earnings for the first fiscal quarter, at US$20.9m, compared to $18.6m for the same period of last year.
Net sales for the first quarter totalled $206.7m, a 13% increase over the same quarter of the prior year. Same-store sales from retail operations in Q1 increased 3% over the same period last year.
"We continue to show solid earnings growth," said Matthew McCauley, chairman and CEO. "Our ongoing strategies to acquire new customers and expand our store base are proving successful. We expect these efforts to prove beneficial well beyond the first quarter, as new customers come to appreciate the great fashion and unmatched quality of Gymboree."
For the second fiscal quarter, Gymboree expects a low to mid-single digit same-store sales increase over the same period of the prior year.
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