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Revenues up marginally at Body Central in Q3 FY'12

03
Nov '12
“Our new stores continue to perform well and we are on track to achieve our store opening plan for 2012. Overall, we believe that we are taking the right steps to get the Company on the path to sales and earnings recovery in 2013."

Balance Sheet highlights as of September 29, 2012:

Cash, cash equivalents and short-term investments were $36.9 million at the end of the third quarter compared to $31.7 million at the end of the third quarter in the prior year.

Inventories at the end of the third quarter were $20.9 million compared to $20.6 million at the end of the third quarter of 2011. Average store inventories decreased 8% from one year ago.

The Company had no long-term debt as of the end of the third quarter of 2012.

Outlook

For the fourth quarter of fiscal 2012, the Company expects net revenues in the range of $82 million to $84 million, comparable sales to decrease 11% to 14% and diluted earnings per share in the range of $0.19 to $0.22, based on diluted weighted-average shares outstanding of 16.4 million.

For fiscal 2012, the Company expects net revenues in the range of $312 million to $314 million, comparable sales to decrease 8% to 9% and diluted earnings per share in the range of $0.80 to $0.83, based on diluted weighted-average shares outstanding of 16.4 million. The guidance above excludes, on a pre-tax basis, the $600,000 CEO severance costs incurred in the third quarter of this year.

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 October 31, 2012 the Company operated 267 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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