Body Central reports net revenue growth of 22%

29 Aug '11

4 min read

For fiscal year 2011, the Company now expects net revenues to be in the range of $290 million to $294 million assuming a high-single digit comparable store sales increase and 30 to 33 new store openings for the year. This compares to net revenues of $243.4 million for fiscal year 2010. Net income is expected to be in the range of $18.5 million to $19.3 million and diluted earnings per share are expected to be in the range of $1.14 to $1.19 for the full year. This assumes a tax rate of approximately 37.8% and 16.2 million weighted average shares outstanding. This compares to net income of $9.8 million or $0.73 per diluted share on 13.4 million weighted average shares outstanding. Excluding $1.2 million of non-recurring costs related to the IPO, as well as one-time costs of $793,000 related to the early repayment of debt, net income for fiscal year 2010 was $11.0 million or $0.82 per diluted share.

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 July 2, 2011 the Company operated 221 specialty apparel stores in 24 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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