Home / Knowledge / News / Apparel/Garments / Net revenues up 17.9% at Body Central in Q3
Net revenues up 17.9% at Body Central in Q3
15
Nov '11
Body Central Corp. announced financial results for the third quarter and year-to-date 2011.

Highlights for the third quarter ended October 1, 2011:
• Net revenues for the quarter increased 17.9% to $67.1 million, compared to $56.9 million for the third quarter of 2010.
• Store sales rose 21.2% to $61.0 million driven by a comparable-store sales increase of 8.2% and net store unit growth of 10.8%.
• Operating income increased 58.9% to $4.7 million as compared to $2.9 million in the third quarter of 2010. Operating margin increased to 6.9% from 5.2% for the same period last year. Excluding $350,000 in severance costs related to the departure of the Company's former CFO, operating income for the third quarter of 2011 was $5.0 million or 7.5% of net revenues.
• Net income was $2.8 million, or $0.18 per diluted share based on 16.2 million weighted average shares outstanding as compared to net income of $1.3 million, or $0.11 per diluted share based on 12.8 million weighted average shares outstanding for the third quarter of 2010. Excluding the severance costs net income for the third quarter of 2011 was $3.1 million or $0.19 per diluted share.
• The Company opened 5 new stores during the third quarter and operated 226 stores as of October 1, 2011.

Highlights for the thirty-nine weeks ended October 1, 2011:
• Net revenues increased 22.4% to $215.8 million from $176.3 million for the same period a year ago.
• Store sales rose 26.8% to $188.9 million and comparable-store sales increased 13.0% from the same period in 2010.
• Operating margin increased to 10.0% of net revenues from 7.8% of net revenues for the same period last year. Excluding the above-mentioned severance costs related to the departure of the Company's former CFO, operating margin was 10.2% for the thirty-nine weeks ended October 1, 2011.
• Net income was $13.6 million or $0.85 per diluted share, as compared to net income of $7.1 million, or $0.56 per diluted share for the third quarter of 2010. Excluding the severance costs, net income for the thirty-nine weeks ended October 1, 2011 was $13.8 million or $0.86 per diluted share.
• The Company opened 17 new stores during the thirty-nine weeks ended October 1, 2011.

Allen Weinstein, Body Central's President and CEO, stated: "Our solid momentum continued in the third quarter as we consistently delivered fashionable merchandise at value prices. Our comparable store sales performance demonstrates the strength of our existing stores while our new stores are also performing ahead of expectations.

"We are on target to open 33 new stores in 2011 -- a record for our Company. In addition, we remain focused on enhancing our infrastructure and have made several strategic additions to our management team that we believe will better position us to execute on our long term growth objectives."

Balance Sheet highlights as of October 1, 2011:
Cash and cash equivalents were $31.7 million at the end of the third quarter compared to $5.8 million at the end of the third quarter in the prior year.

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search