Home / Knowledge / News / Apparel/Garments / Operating profit margin improves at Gordmans
Operating profit margin improves at Gordmans
13
Sep '10
Gordmans Stores, Inc., an Omaha-based apparel and home décor retailer, announced results for second quarter (thirteen weeks) and six month period (twenty six weeks) ended July 31, 2010.

Second Quarter Highlights

• Net sales increased 14.7% to $113.1 million compared to $98.6 million in the second quarter of 2009.
• Comparable store sales increased 8.3% over the second quarter of 2009.
• Operating margin improved 120 basis points to 5.0% from 3.8% of sales in the second quarter of 2009.
• Net income increased 50.1% to $3.3 million, or $0.20 per diluted share, compared to $2.2 million, or $0.14 per diluted share in the second quarter of 2009.

Six Month Highlights

• Net sales increased 17.1% to $225.0 million compared to $192.1 million for the six months ended August 1, 2009.
• Comparable store sales increased 11.7% over the same period last year.
• Operating profit margin improved 200 basis points to 7.1% from 5.1% last year.
• Net income increased 65.9% to $9.7 million, or $0.60 per diluted share, compared to $5.8 million, or $0.37 per diluted share for the corresponding period last year.

Jeff Gordman, President and Chief Executive Officer, stated: "We are pleased with the top line momentum and earnings growth we experienced during the second quarter. We successfully executed on several key initiatives which have enabled us to enhance our operational platform and to further strengthen our market position. Our value-based selling proposition and our broad merchandise assortments have enabled us to increase our market share in a challenging environment. We believe that we have effective strategies and systems in place to sustain our comparable store sales growth and to pursue a significant unit expansion plan in order to create long-term value for our shareholders."

Second Quarter Financial Results
Net sales for the thirteen weeks ended July 31, 2010, increased 14.7% to $113.1 million from $98.6 million for the thirteen weeks ended August 1, 2009, while comparable store sales increased 8.3% during this timeframe. Gross profit increased 15.7% to $49.9 million, or 44.2% of sales, from $43.2 million, or 43.8% of sales in the prior year. Selling, General and Administrative costs were $44.3 million, or 39.2% of sales, compared to $39.4 million or 40.0% of sales in the prior year.

Operating income increased 50.9% to $5.6 million, or 5.0% of sales, compared to $3.7 million, or 3.8% of sales in the prior year. Net income increased 50.1% to $3.3 million, or $0.20 per diluted share, compared to $2.2 million, or $0.14 per diluted share in the prior year.

Six Month Financial Results
Net sales for the twenty six weeks ended July 31, 2010, increased 17.1% to $225.0 million from $192.1 million for the twenty six weeks ended August 1, 2009, including a comparable store sales increase of 11.7%. Gross profit increased 19.9% to $102.5 million, or 45.5% of sales, from $85.5 million, or 44.5% of sales in the prior year. Selling, General and Administrative costs were $86.6 million, or 38.4% of sales, compared to $75.7 million or 39.4% of sales in the prior year.


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search