USA: Too, Inc. First Quarter Net Income Triples
Too, Inc. (NYSE: TOO) today reported net income of $3.1 million, or $.10 per diluted share, for the quarter ended April 29, 2000 compared to adjusted net income of $1.0 million, or $.03 per diluted share, for the quarter ended May 1, 1999. The 1999 results were adjusted to reflect additional interest expense, net of related income taxes, which would have been incurred if the Company's current capital structure had been in place. Basic and diluted earnings per share, on a historical basis (excluding net interest expense), were $.05 for the first quarter 1999.Net sales for the first quarter 2000 increased 25%, to $118.8 million compared to $95.0 million for the 1999 period.Comparable store sales increased 10% for the first quarter 2000 on top of a 10% increase in comparable store sales for the same period in 1999. The first quarter's comparable store increase marks the 15th consecutive quarter of positive comparable store sales increases, 13 of which were double-digit improvements."Our successful Too Bucks promotion, introduction of the spring catazine in February, and an aggressive plan for new store construction and openings were all key elements behind the substantial growth in quarterly sales," said Too, Inc. Chairman and CEO Michael W. Rayden. "The application of value engineering practices in planning and constructing our 'Girl Power' format stores has enabled the Company to open more stores, quicker and at lower cost per square foot."Limited Too plans to open at least 55 new stores in 2000. The Company has opened 12 new stores to date during the current fiscal year.Too, Inc. is a rapidly growing specialty retailer that sells apparel, swimwear, sleepwear, underwear, lifestyle and personal care products for active, fashion-aware girls between 7 and 14 years of age. The company operates 362 stores in 44 states and distributes a catazine under the "Limited Too" brand name. Visit the Company's Web site at
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- Vietnam grows share of US apparel imports in 2016
- Key trade issues facing US textiles and apparel
- Does a hard Brexit mean hard times for UK fashion?
- Bangladesh "high threat" for terrorist activity
- VF Corp sees Q4 and FY earnings tumble
- Sales at US clothing retailers jumped in January
- Ralph Lauren new execs to support Way Forward Plan
- US Q4 in brief – VF Corp, Kate Spade, Rocky Brands
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar