Interviews
Body Central ends the year with strong balance sheet
28 Mar '11
4 min read
Balance Sheet highlights as of January 1, 2011:
Cash and cash equivalents were $16.2 million at the end of fiscal year 2010 compared to $7.2 million at the end of fiscal year 2009.
Inventories at the end of the fiscal year 2010 were $18.4 million compared to $12.9 million at the end of fiscal year 2009. The increase in inventory was related to the increase in the number of stores, earlier shipments of spring merchandise for fiscal year 2011 and an increase in supplies inventory to take advantage of purchasing opportunities.
There was no outstanding debt at the end of fiscal year 2010 compared to $38.3 million at the end of fiscal year 2009.
Outlook:
For the first quarter of fiscal year 2011, net revenue is expected to be in the range of $71 million to $72 million assuming a comparable-store sales increase in the low teens coupled with new store openings. Diluted earnings per share are expected to be in the range of $0.28 to $0.30 for the quarter. This assumes 16.1 million diluted weighted-average shares outstanding.
For fiscal year 2011, net revenue is expected to be in the range of $286 million to $292 million assuming a mid to high-single digit comparable store sales increase coupled with new store openings. Diluted earnings per share are expected to be in the range of $1.08 to $1.12 for the full year. This assumes 16.3 million diluted weighted-average shares outstanding.
Founded in 1972, Body Central Corp. is a growing, multi-channel, specialty retailer offering on-trend, quality apparel and accessories at value prices. As of January 1, 2011, the Company operated 209 specialty apparel stores in 23 states under the Body Central and Body Shop banners, as well as a direct business comprised of a Body Central catalog and an e-commerce website.
Cash and cash equivalents were $16.2 million at the end of fiscal year 2010 compared to $7.2 million at the end of fiscal year 2009.
Inventories at the end of the fiscal year 2010 were $18.4 million compared to $12.9 million at the end of fiscal year 2009. The increase in inventory was related to the increase in the number of stores, earlier shipments of spring merchandise for fiscal year 2011 and an increase in supplies inventory to take advantage of purchasing opportunities.
There was no outstanding debt at the end of fiscal year 2010 compared to $38.3 million at the end of fiscal year 2009.
Outlook:
For the first quarter of fiscal year 2011, net revenue is expected to be in the range of $71 million to $72 million assuming a comparable-store sales increase in the low teens coupled with new store openings. Diluted earnings per share are expected to be in the range of $0.28 to $0.30 for the quarter. This assumes 16.1 million diluted weighted-average shares outstanding.
For fiscal year 2011, net revenue is expected to be in the range of $286 million to $292 million assuming a mid to high-single digit comparable store sales increase coupled with new store openings. Diluted earnings per share are expected to be in the range of $1.08 to $1.12 for the full year. This assumes 16.3 million diluted weighted-average shares outstanding.
Founded in 1972, Body Central Corp. is a growing, multi-channel, specialty retailer offering on-trend, quality apparel and accessories at value prices. As of January 1, 2011, the Company operated 209 specialty apparel stores in 23 states under the Body Central and Body Shop banners, as well as a direct business comprised of a Body Central catalog and an e-commerce website.
Body Central Corp
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