US: Gymboree increases full-year earnings forecast
US retailer The Gymboree Corporation has increased its earnings expectations for the quarter and full fiscal year of 2007, after meeting aggressive goals over the Christmas period.
It expects net income for the fourth quarter to be in the range of $0.88 to $0.90 per diluted share, a $0.10 increase from prior guidance. For the full year, earnings are expected to be in the range of $2.64 to $2.66 per diluted share.
In addition, Gymboree said its same-store sales for the fourth fiscal quarter are now expected to increase in the range of mid-to-high single digits.
"During this past holiday season, every department executed and delivered on aggressive goals," said Matthew McCauley, chairman and CEO.
"By continuing to focus on key strategies of acquiring new customers and increasing operating efficiencies, we are delivering significant earnings growth despite the challenging retail environment."
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