Second quarter profit at children’s apparel retailer The Gymboree Corporation has edged up by just 0.8%, the San Francisco based firm said yesterday (18 August).
The company reported earnings of $12.3m or $0.44 per share for the three months to 31 July, compared to earnings of $12.2m or $0.41 per share, in the prior year.
Total sales at the company, which operates 1,019 stores under the Gymboree, Gymboree Outlet, Janie and Jack and Crazy 8 nameplates, rose 3% to $222.7m. Sales from retail operations also rose 3% to $219.3m from $212.3m, but same-store sales were down 3%, the company said.
Gross profit for the second fiscal quarter was 43.5% of sales, an improvement of more than 20 basis points on last year’s rate of 43.3%.
Looking ahead to the third quarter, Gymboree expects comparable store sales to be slightly negative to flat versus the same period last year. Earnings are seen in the range of $1.25 to $1.30 per share.
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