• Q1 net income reaches $4.2m, compared to $10.4m loss last year 
  • Net sales up 10.2% to  $297.8m
  • Retail sales up 8.4% 

Children's apparel retailer The Gymboree Corp has swung to a first-quarter net profit on the back of higher sales.

For the quarter ended 2 February, net income reached US$4.2m compared to a net loss of $10.4m the same period last year. The company said the increase resulted from higher debt extinguishment expense and higher acquisition-related costs incurred during the prior fiscal year.

Operating income jumped 14.4% to $30.1m. Net sales increased 10.2% to $297.8m, while comparable store sales climbed 1% compared to the same period last year. Retail sales rose 8.4% to $288.1m.