Brian Woolf, Body Central's CEO, stated: "Our fourth quarter results reflect challenges facing the Company as we work to improve our store and direct business merchandising assortments and drive traffic. We remain focused on executing our strategy and serving our customers amid a difficult environment.
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
“We currently have approximately $20.1 million of cash (including $12 million drawn as a term loan under our asset-based loan facility) and up to an additional $5 million under the undrawn, asset-based revolving loan facility, and we are taking additional actions intended to improve liquidity through the balance of 2014."
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
Mr. Woolf adds: "We are pleased to have announced the early February 2014 closing of our asset-based loan facility with a total commitment of $17 million. This expanded line will provide increased flexibility to flow merchandise to our stores and support marketing and operational initiatives that we believe can drive future sales increases, better margins and improved cash flows.
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
“In addition to our expanded line of credit facility, we are taking measures which, if successful, will provide more liquidity. These measures include additional corporate and other administrative headcount reductions, the deferral of non-essential capital projects, and the pursuit of additional sale-leaseback financing arrangements for previously incurred capital projects."
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
Mr. Woolf concluded by stating: "While not reflected in the overall results yet, we believe we have moved forward with the business transformation that positions us for improving results."
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
Balance Sheet highlights as of December 28, 2013:
-Cash and cash equivalents were $16.5 million at the end of the fourth quarter of 2013 compared to $41.1 million at the end of the fourth quarter of 2012.
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
-Average per store inventory at cost decreased 18.9% and average per store inventory units decreased 10% from one year ago.
Body Central Corp. announced financial results for the fourth quarter of 2013.Highlights for the thirteen weeks ended December 28, 2013:-Net revenues #
Body Central Corp
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