Home / Knowledge / News / Apparel/Garments / Net revenues up 17.9% at Body Central in Q3

Net revenues up 17.9% at Body Central in Q3

15
Nov '11
Body Central Corp. announced financial results for the third quarter and year-to-date 2011.

Highlights for the third quarter ended October 1, 2011:
• Net revenues for the quarter increased 17.9% to $67.1 million, compared to $56.9 million for the third quarter of 2010.
• Store sales rose 21.2% to $61.0 million driven by a comparable-store sales increase of 8.2% and net store unit growth of 10.8%.
• Operating income increased 58.9% to $4.7 million as compared to $2.9 million in the third quarter of 2010. Operating margin increased to 6.9% from 5.2% for the same period last year. Excluding $350,000 in severance costs related to the departure of the Company's former CFO, operating income for the third quarter of 2011 was $5.0 million or 7.5% of net revenues.
• Net income was $2.8 million, or $0.18 per diluted share based on 16.2 million weighted average shares outstanding as compared to net income of $1.3 million, or $0.11 per diluted share based on 12.8 million weighted average shares outstanding for the third quarter of 2010. Excluding the severance costs net income for the third quarter of 2011 was $3.1 million or $0.19 per diluted share.
• The Company opened 5 new stores during the third quarter and operated 226 stores as of October 1, 2011.

Highlights for the thirty-nine weeks ended October 1, 2011:
• Net revenues increased 22.4% to $215.8 million from $176.3 million for the same period a year ago.
• Store sales rose 26.8% to $188.9 million and comparable-store sales increased 13.0% from the same period in 2010.
• Operating margin increased to 10.0% of net revenues from 7.8% of net revenues for the same period last year. Excluding the above-mentioned severance costs related to the departure of the Company's former CFO, operating margin was 10.2% for the thirty-nine weeks ended October 1, 2011.
• Net income was $13.6 million or $0.85 per diluted share, as compared to net income of $7.1 million, or $0.56 per diluted share for the third quarter of 2010. Excluding the severance costs, net income for the thirty-nine weeks ended October 1, 2011 was $13.8 million or $0.86 per diluted share.
• The Company opened 17 new stores during the thirty-nine weeks ended October 1, 2011.

Allen Weinstein, Body Central's President and CEO, stated: "Our solid momentum continued in the third quarter as we consistently delivered fashionable merchandise at value prices. Our comparable store sales performance demonstrates the strength of our existing stores while our new stores are also performing ahead of expectations.

"We are on target to open 33 new stores in 2011 -- a record for our Company. In addition, we remain focused on enhancing our infrastructure and have made several strategic additions to our management team that we believe will better position us to execute on our long term growth objectives."

Balance Sheet highlights as of October 1, 2011:
Cash and cash equivalents were $31.7 million at the end of the third quarter compared to $5.8 million at the end of the third quarter in the prior year.


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Pic: UNCTAD

Textiles | On 26th Feb 2020

Barbados unveils one-stop investment guide

As Barbados prepares to host the 15th quadrennial conference of the...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Top executives, Textile industry, India

Top executives
Textile industry, India

The event should be organised every year

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


February 2020

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


Advanced Search