USA: Gymboree Reveals Rise In Q4 Income
The firm, which operates 580 stores in the US, Canada and Europe, said comparable store sales for the four-week period ended March 2, 2002, were flat compared to a 53 per cent comparable increase during the same four-week period last year. Net sales for the four-week period were $37.1m, versus $37.6m last year.
Gymboree also revealed it plans to launch a new baby gift retail chain on a test market basis in the third quarter of 2002. Called Janie & Jack, it will focus on high-end baby and infant clothing and gifts and will roll out with approximately 10 stores in the US.
"We are very proud of our many accomplishments in 2001. We fixed our product, instituted operational efficiencies, strengthened our balance sheet and ended the year profitable with a healthy gross margin," said Lisa Harper, Gymboree's vice chair and chief executive officer.
"We are entering the next stage of our turnaround by optimising our overall inventory productivity on a store-by-store basis."
She added: "We will remain extremely focused on our core Gymboree retail business as we continue to leverage opportunities for growth there. We believe that we also have a very strong opportunity to grow the overall business by developing specialty niche brands in underserved markets. We will test this belief in a very focused way with Janie & Jack."
Net sales net sales for the 13 weeks ended February 2, 2002, slipped to $150.4m from $153.3m last year, while sales for the 52-week period reached $505.4m compared to $448.6m in 2001.
For the remainder of the first quarter of fiscal 2002, Gymboree projects comparable store sales for the months of March and April to each be in the low single digits, while looking forward to the balance of the year, it expects comparable store sales to be in the low to mid single digits.
Companies: Gymboree Corporation
Help test our new apparel sourcing tool.
Gymboree Company's net sales for the 2005 financial year increased 14%, with comparable store sales jumping 9%....
Children's retail chain Gymboree's Board of Directors has replaced current CEO Lisa Harper with the company's president Matthew McCauley as part of an executive shake-up....
Children's retail chain Gymboree has beat forecasts with tripled third-quarter income, and has upped its full-year profit outlook....
The following is a general roundup of apparel and shoe chains' October sales results. The list will be updated as new results become available....
Specialty retail brands company Gymboree has reported a 14 per cent jump in third-quarter net sales on a same-store sales rise of 10 per cent....
Apparel, accessories and footwear retailer The J Jill Group Inc has appointed Lisa Bayne to the position of executive vice president/chief marketing officer....
Children's clothing retailer Gymboree Corp is recalling a range of baby sandals as the plastic flowers adorning them pose a safety hazard....
The following is a general roundup of apparel and shoe chains' July sales results. The list will be updated as new results become available....
- Trump and the apparel industry – Infographic
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- Outlook 2017 – What next for apparel sourcing?
- Is China about to burst its apparel trade bubble?
- Cambodia clothing exports at risk from Brexit
- MAS Holdings planning second industrial park
- Apparel brands urge Bangladesh PM to address wages
- American Apparel to shutter all stores?
- JC Penney latest retailer to shutter stores?
- Global apparel markets: product developments and innovations, October 2016
- Anti-odour clothing: fresh fashion for an active lifestyle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022