US: Gymboree reaffirms guidance after Q4 profit lift
Retailer The Gymboree Corporation has reasserted its fiscal 2008 earnings guidance after revealing a 12% increase in fourth quarter gross profit to US$134.1m.
As previously announced, the company's fourth quarter sales increased 16% to $278.4m, with comparable store sales up 10%.
Gymboree said its gross profit was impacted by lower average selling prices. Income was $0.93 per diluted share, up from $0.82 per share in the prior year.
Full-year net sales rose 16% to $920.8m, while comparable store sales were up 7%. Income hit $80.3m, up from $71.2m.
Gymboree continues to forecast first quarter income of $0.73-0.75 per share, based on low single-digit comparable store sales growth.
For the full year, it expects earnings per share of $3.00-3.05, based on low single-digit comps.
Claire's Stores posted second quarter EBITDA of US$58.1m, down 9.6% on last year's figures....
Retailer Bakers Footwear Group Inc has narrowed its second quarter loss after posting higher sales and stronger margins....
Improved gross margins helped drive fashion retailer Le Chateau to a 55.6% hike in second quarter profits, making up for the company's poor first quarter performance....
The following is a general roundup of US apparel and shoe chains' August 2008 sales results. The list will be updated as new results become available....
Footwear and hat retailer Genesco posted a wider second quarter loss of US$10.3m thanks mainly to tax liabilities linked to its failed merger with fellow retailer The Finish Line....
Clothing retailer and rental specialist The Men's Wearhouse recorded a 76% slump in second quarter profits, but saw its shares rise after beating market expectations....
Teen apparel retailer Delia's cut its second quarter loss marginally to US$5m from $5.1m last year, thanks to buoyant retail revenues....
US broadline retailer Sears Holdings Corporation has reported net income of US$65m for the second quarter, compared with net income of $173m for the same period last year....
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