"We achieved the high-end of our earnings guidance as a result of strong execution of our important back-to-school period, and the continuation of disciplined expense management across the organization," commented Jane Elfers, President and Chief Executive Officer. "We are well-positioned as we enter the fourth quarter and look forward to making substantive
Third Quarter 2013 Results
Net sales were $492.7 million, compared to $500.9 million in the third quarter of 2012. Comparable retail sales declined 0.7%.
Net income was $41.7 million, or $1.84 per diluted share, in the third quarter of 2013, compared to $37.3 million, or $1.54 per share, the previous year. Adjusted net income was $42.7 million, or $1.89 per diluted share, compared to $41.3 million, or $1.70 per diluted share, the previous year.
Gross profit was $201.8 million, compared to $209.5 million in the third quarter of 2012. Adjusted gross profit in the third quarter of 2013 was $202.9 million, and deleveraged 60 basis points to 41.2% of sales.
As a result of the Company's strong expense management, selling, general and administrative expenses were $123.5 million, compared to $131.9 million in the third quarter of 2012. Adjusted SG&A in the third quarter of 2013 was $123.2 million, and leveraged 130 basis points to 25.0% of sales.
Operating income was $61.6 million, compared to $53.5 million in the third quarter of 2012. Adjusted operating income in the third quarter of 2013 was $63.2 million, and leveraged 80 basis points to 12.8% of sales.
Adjusted net income, adjusted gross profit, adjusted SG&A, and adjusted operating income are Non-GAAP measures. The Company believes the excluded transactions are not indicative of the performance of its core business and that by providing this supplemental disclosure to investors it will facilitate comparisons of its past and present performance.
The Company opened 10 stores and closed 3, ending the third quarter with 1,123 stores.
Click here to read full results
The Children's Place
Textiles | On 27th May 2018
To curb illegal imports, Ghanaian authorities will put a tax stamp on ...
Apparel/Garments | On 27th May 2018
Partners Group, a private markets investment manager, and Kedaara...
Indian fashion market is growing at a staggering rate
Every market region has its own culture and trends
Bridalwear is not about reds and whites anymore
<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...
Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...
Textile Events is one of the largest textile fair in the United Kingdom,...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
About one in every 20 patients picks up an infection while hospitalised....