First Quarter Highlights
- Comparable store sales increased 1.2%.
- Gross margin rate increased 57 basis points to 34.8%, compared with 34.3% in the first quarter of fiscal 2012.
- Operating loss decreased $11.4 million to $7.1 million, compared with an operating loss of $18.5 million in the first quarter of fiscal 2012.
- Adjusted EBITDA increased $10.4 million to $15.2 million, compared with $4.8 million in the first quarter of fiscal 2012. Adjusted EBITDA is not a measure recognized under generally accepted accounting principles.
- Net loss totaled $26.6 million, or $1.41 per diluted share, compared with a net loss of $40.8 million, or $2.23 per diluted share, for the first quarter of fiscal 2012.
Brendan Hoffman, President and Chief Executive Officer, commented, “Our first quarter financial results reflect meaningful progress on our strategic initiatives. Comparable store sales increased in spite of inclement weather. Enhancements to our eCommerce business again yielded double-digit sales growth while we saw increased penetration of proprietary credit card sales due to concentrated efforts to drive this business. Our gross margin rate benefited from a better balanced merchandise mix and a more effective markdown strategy.”
Comparable store sales for the first quarter of fiscal 2013 increased 1.2% over the first quarter of fiscal 2012. Total sales increased 1.0% to $646.9 million, compared with $640.8 million for the first quarter of fiscal 2012.
Other income in the first quarter of fiscal 2013 was $15.0 million, compared with $13.5 million in the first quarter of fiscal 2012.
In the first quarter of fiscal 2013, gross margin increased $5.8 million to $225.3 million, compared with $219.6 million in the first quarter of fiscal 2012.
The gross margin rate for the first quarter of fiscal 2013 increased to 34.8% of net sales from 34.3% of net sales in the prior year period. The increase in the gross margin rate in the current year period is largely attributable to a reduced net markdown percentage and an increase in the cumulative markup percentage.
Textiles | On 24th Oct 2016
Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...
Textiles | On 24th Oct 2016
German technology can play a major role making the environment...
Apparel/Garments | On 24th Oct 2016
Virtual fitting rooms meant to bridge the gap between e-commerce...
Key Textile Accessories Private Limited
Chinese imports are destroying the supply chain
‘It is going to take some time for Indian buyers to get accustomed to...
Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli
‘The percentage share of printing in the global textile market is pretty...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
"You have to truly understand what your client wants, know her needs, what ...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...
Apparel/Garments | On 21st Oct 2016