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Body Central Corp posts dip in Q3 sales
06
Dec '13
Driven by lower sales revenue, American women’s clothing retailer Body Central Corp swung to a loss in the third quarter of 2013.

The company witnessed a 10.4 per cent dip in net revenues to USD 60.8 million in the thirteen weeks ended September 28, 2013 from USD 67.9 million in the same period a year ago.

Sales at stores fell by 10.1 per cent to USD 55.7 million driven by a slump of 18.3 per cent in like-for-sales.  The decline in store sales came even as the company added 28 fresh stores in the last 12 months.

Weak footfall at its stores was attributed to the company’s disappointing sales performance last quarter.

Direct sales of the company fell by 13.6 per cent to USD 5.1 million in the third quarter of 2013 from USD 5.9 million in the same period a year ago.

However, the online segment of the company’s direct business division continued to witness rapid growth last quarter as Body Central stepped up marketing spend to boost online traffic.

The company swung to a net loss of USD 9 million in the third quarter of 2013, compared to a net profit of USD 153,000 in the same period a year ago. Diluted loss per share stood at USD 0.55 in Q3 2013, compared to an income of USD 0.01 per diluted share in Q3 2012.

Body Central Corp, which operated 291 stores as of September 28, 2013, is confident that its focus on nightlife and club wear will receive good response from customers during the ongoing holiday season.

Fibre2fashion News Desk - India

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