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Mr. Miller concluded, "We are encouraged that the positive sales trends have continued into the fourth quarter and are excited about our holiday product assortment and marketing plans. We remain focused on continuing to drive the business by broadening our appeal to include consumers with more discretionary income while maintaining our strong value proposition, and further leveraging our merchandise and operating improvements."
Quarterly Cash Dividend
The Company's Board of Directors has declared a quarterly cash dividend of $0.075 per share of outstanding common stock, which will be paid on December 14, 2012 to stockholders of record as of November 30, 2012.
During the fiscal 2012 third quarter, the Company repurchased 105,100 shares of its common stock for a total expenditure of $0.9 million. As of the end of the third quarter, the Company had approximately $10.0 million available for future stock repurchases under its $20.0 million share repurchase program authorized in the fiscal 2007 fourth quarter.
For the fiscal 2012 fourth quarter, the Company expects same store sales in the positive mid-single-digit range and earnings per diluted share in the range of $0.13 to $0.21. For comparative purposes, the Company reported a net loss for the fourth quarter of fiscal 2011 of $9,000, or $0.00 per diluted share, including a non-cash impairment charge of $0.05 per diluted share.
During the third quarter of fiscal 2012, the Company opened two stores and closed two stores, one of which relates to a relocation. The Company ended the fiscal 2012 third quarter with 407 stores in operation.
During the fiscal 2012 fourth quarter, the Company currently anticipates opening eight new stores, including one relocation, and closing one store. For the fiscal 2012 full year, the Company currently anticipates opening fourteen new stores, including three relocations, and closing six stores, including two relocations. The Company currently expects to end fiscal 2012 with 414 stores in operation.
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