Home / Knowledge / News / Apparel/Garments / Revenues up 6.3% at apparel retailer Body Central in Q2

Revenues up 6.3% at apparel retailer Body Central in Q2

06
Aug '12
Body Central Corp. announced financial results for the second quarter of 2012 and revised guidance for the reminder of the year.

Summary results for the thirteen weeks ended June 30, 2012:

  • Net revenues for the quarter increased 6.3% to $79.4 million, compared to $74.7 million for the second quarter of fiscal 2011.
  • Store sales rose 5.9% to $68.3 million due to net store unit growth of 16.3%, offset by a comparable-store sales decrease of 7.6%.
  • Direct sales rose by 9.0% to $11.0 million from $10.1 million in the second quarter of fiscal 2011.
  • Income from operations was $5.5 million as compared to $8.1 million in the second quarter of fiscal 2011. Income from operations as a percentage of net revenues decreased to 6.9% from 10.8% due to increased markdowns and negative comparable store sales in the second quarter of fiscal 2012.
  • Net income was $3.4 million, or $0.21 per diluted share based on 16.4 million weighted-average shares outstanding as compared to net income of $5.3 million, or $0.33 per diluted share based on 16.2 million weighted-average shares outstanding in the second quarter of fiscal 2011.
  • The Company opened 15 new stores and closed 1 store during the second quarter and operated 257 stores as of June 30, 2012.

Summary results for the twenty-six weeks ended June 30, 2012:

  • Net revenues for the first half of fiscal year 2012 increased 9.0% to $162.0 million, compared to $148.7 million for the first half of fiscal 2011.
  • Store sales rose 8.9% to $139.3 million due to net store unit growth of 16.3%, offset by a comparable-store sales decrease of 4.5%.
  • Direct sales rose by 9.5% to $22.8 million from $20.8 million in the first half of fiscal 2011.
  • Income from operations was $15.0 million as compared to $16.9 million in the first half of 2011. Income from operations as a percentage of net revenues decreased to 9.3% from 11.4% due to increased markdowns and negative comparable sales in the first half of fiscal 2012.
  • Net income was $9.4 million, or $0.57 per diluted share based on 16.4 million weighted-average shares outstanding as compared to net income of $10.7 million, or $0.66 per diluted share based on 16.1 million weighted-average shares outstanding in the first half of fiscal 2011.
  • The Company opened 19 new stores and closed 3 stores during the first half of fiscal 2012.

Allen Weinstein, Body Central's President and CEO, stated: "Our second quarter sales and earnings were in line with our revised guidance. We believe that the shortfall in our retail business was due not only to our own missteps but also to the challenging retail environment.

“During the second quarter, we have reduced spring and summer inventory levels, began to flow fall merchandise into our stores, continued our test and reorder process and better-aligned inventory levels with sales expectations. Our direct business has had solid gains and we continue to make progress on executing several company-wide merchandising and operating initiatives.


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Feb 2020

CLMV nations urged to export goods items to Japan

Cambodia, Laos, Myanmar and Vietnam (CLMV) were recently encouraged...

Pic: Shutterstock

Apparel/Garments | On 19th Feb 2020

Turkey's apparel sector sets $19 bn export target in 2020

Turkey's apparel sector, which sold goods worth $17.7 billion to...

Pic: Waleeds / Shutterstock.com

Textiles | On 19th Feb 2020

Pakistan textile exports up 3.68% in July-Jan FY20

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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