• Q4 net loss US$169.8m, up from $5.4m
  • Net sales fall 11.7% to $351m
  • Comparable store sales down 9%

Retailer The Gymboree Corporation posted a fourth quarter net loss of nearly US$170m, with revenues, comparable store sales and gross profit margins all down.

The US company said its gross profit margin in the three months to 1 February was 35.5%, down from 36.4% a year earlier, giving a full-year net loss of $206.4m, up from $10.4m.

Full-year net sales were down 3.1% to $1.24bn, while comps fell 6%, it added.

“The fourth quarter marked an end to a challenging year for the company, and clearly we are disappointed with our performance,” said Mark Breitbard, Gymboree CEO.

“We remain focused on four key areas to improve the long-term performance of the business: solidifying our team, delivering compelling product, improving inventory management and upgrading our infrastructure.”

The company expects full-year adjusted EBITDA to be flat in fiscal 2014.