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

Courtesy: Bangladesh Bank

Apparel/Garments | On 22nd May 2018

Bangladesh Bank enhances EDF loan limit to $25 million

Bangladesh Bank has enhanced the loan limit under Export Development...

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search