The Company's diluted earnings per share for its third quarter of fiscal 2012 was in line with its July 10, 2012 updated earnings guidance range of $0.51-$0.53 per share, but below the low end of its April 26, 2012 earnings guidance of $0.57 to $0.70 per share. On July 25, 2012 the Company announced that its Board of Directors declared a regular quarterly cash dividend of $0.175 per share payable September 28, 2012.
Third Quarter Fiscal 2012 Financial Results
The Company estimates that reported comparable sales for the third quarter of fiscal 2012 were hurt by approximately 1.0 percentage points due to a calendar shift which helped March sales at the expense of April, with April 2012 having one less Friday and Saturday compared to April 2011.
Adjusting out this 'calendar shift' adverse impact, the Company's days-adjusted comparable sales for the third quarter was a decrease of approximately 1.4%. The Company's Internet sales, which are included in the Company's reported comparable sales, increased 30% for the third quarter of fiscal 2012, on top of an 18% increase in the third quarter of fiscal 2011.
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