US: Gymboree slips to Q1 loss
- Q1 net loss US$2.8m, versus $4.2m profit
- Net sales down 1.7% to US$292.8m
- Comps down 5%
Retail business The Gymboree Corporation slipped to a first quarter net loss after sales dipped 1.7% and comparable store sales fell 5%.
Gross profit increased to 41.3% in the three months to 4 May from 40.9% in last year’s first quarter, the company said.
The owner of the Gymboree retail chain now expects its full-year adjusted EBITDA to be up “modestly” on last year, with comparable store sales flat to slightly positive.
Japanese retailer Fast Retailing has appointed Nancy Pedot as chief executive of the company's Comptoir des Cotonniers and Princesse tam.tam brands, and group executive officer....
Higher sales and improved margins helped children's apparel retailer the Gymboree Corporation to narrower losses during the second quarter....
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