Too Inc, the specialty retailer for girls and young women, today said net sales for the third quarter 2001 increased 11 per cent, to $148.8m, compared to $133.8m for the 2000 period. Comparable store sales increased 5 per cent for the third quarter 2001, compared to a 1 per cent increase for the like period last year.

Net income for the quarter ended 3 November 2001 was $8.0m, or $.25 per diluted share, compared to net income of $6.4m, or $.20 per diluted share, for the quarter ended 28 October 2000.

The earnings improvement is primarily attributable to increased comparable store sales and higher merchandise margins.

"Our successful back-to-school selling has given us a good start to the fall season and provides an added measure of confidence as we go into the prime holiday shopping period," said Too Inc chairman and CEO Michael W Rayden.

The company said it was comfortable with the current First Call consensus earnings estimate of $.76 per diluted share for the fourth quarter ending 2 February 2002.