Home / Knowledge / News / Textiles / Home décor retailer Gordmans Q3 FY'14 sales up 5.8%
Home décor retailer Gordmans Q3 FY'14 sales up 5.8%
03
Dec '13
Gordmans Stores, Inc., an Omaha-based apparel and home décor retailer, announced results for its third quarter (thirteen weeks) and nine month period (thirty-nine weeks) ended November 2, 2013.

Third Quarter Highlights

-Net sales increased 5.8% to $151.3 million compared to $143.1 million in the third quarter of fiscal 2012.

-Three new stores were opened in two new markets and one existing market.

Nine Month Highlights

- Net sales increased 3.5% to $419.5 million compared to $405.2 million in the nine months ended October 27, 2012.

- Ten new stores were opened in six new and two existing markets, including one new state.

Third Quarter Financial Results

Net sales for the thirteen weeks ended November 2, 2013 increased 5.8% to $151.3 million from $143.1 million for the thirteen weeks ended October 27, 2012. Comparable store sales for the third quarter of fiscal 2013 decreased by 6.1% versus a 1.4% comparable store sales decrease in the third quarter of fiscal 2012.

On a comparable calendar basis, comparable store sales declined by 4.5%. Gross profit, which includes license fees, increased by 4.3% to $67.0 million, or 44.3% of net sales, from $64.3 million, or 44.9% of net sales, in the third quarter of fiscal 2012. Selling, general and administrative costs were $64.6 million, or 42.7% of net sales, compared to $57.8 million, or 40.4% of net sales, in the third quarter of fiscal 2012.

Interest expense increased to $0.9 million from $0.1 million in the third quarter of fiscal 2012 due to additional interest associated with the term loan entered into in August 2013 to fund the special cash dividend paid in September 2013. Net income for the third quarter of fiscal 2013 was $1.1 million, or $0.06 per diluted share, compared to net income of $4.0 million, or $0.21 per diluted share, in the third quarter of fiscal 2012.

Nine Month Financial Results

Net sales for the thirty-nine weeks ended November 2, 2013 increased 3.5% to $419.5 million from $405.2 million for the same period last year. Comparable store sales for the nine month period ended November 2, 2013 decreased by 6.5% versus a 1.1% comparable store sales increase for the same period last year.

Gross profit, which includes license fees, decreased by 0.6% to $185.2 million, or 44.2% of net sales, from $186.5 million, or 46.0% of net sales, in the prior year. Selling, general and administrative costs were $175.8 million, or 41.9% of net sales, compared to $161.1 million, or 39.8% of net sales, in the prior year.

Interest expense increased to $1.1 million from $0.4 million in the prior year due to additional interest associated with the term loan. Net income for the thirty-nine weeks ended November 2, 2013 was $5.3 million, or $0.27 per diluted share, compared to net income of $15.6 million, or $0.80 per diluted share, in the first thirty-nine weeks of fiscal 2012.

Click here to read full results

Gordmans


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Nitesh Mittal

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

Urmil Arya

Sushila International, a well established textile organisation established ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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