• Q2 loss narrows to $9.3m from $14.1m last year 
  • Sales increased 8.2% to $290.9m from $268.8m 
  • Comparable sales slipped 3%

Higher sales and improved margins helped children's apparel retailer The Gymboree Corporation to narrower losses during the second quarter.

The company, which operates 1,302 stores, said net loss reached US$9.3m during the three months to 3 August, compared to a $14.1m loss in the same period last year.

Sales increased 8.2% to $290.9m from $268.8m last year, while comparable sales slipped 3%. Gross margin improved to 36.8%, compared to 33.2% in the previous year.

For the full year, Gymboree now forecasts comparable store sales to be down by low single digits, compared to its earlier guidance of flat to slightly positive. However, it continues to expect adjusted EBITDA to be up "modestly" on last year.