Gymboree Q1 earnings gain 13%

28 May '07

2 min read

The Gymboree Corporation reported earnings for the first fiscal quarter ended May 5, 2007, of $20.9 million or $0.67 per diluted share. This compares to earnings from continuing operations of $18.6 million or $0.55 per diluted share for the same period of the prior year.

"We continue to show solid earnings growth," said Matthew McCauley, Chairman and Chief Executive Officer. "Our ongoing strategies to acquire new customers and expand our store base are proving successful. We expect these efforts to prove beneficial well beyond the first quarter, as new customers come to appreciate the great fashion and unmatched quality of Gymboree."

Net sales from retail operations for the fiscal quarter ended May 5, 2007, totaled $206.7 million, a 13% increase over the $183.0 million in net sales from retail operations for the first fiscal quarter of the prior year. As previously reported, comparable store sales from retail operations for the first fiscal quarter increased 3% over the same period last year. Total net sales for the first fiscal quarter were $209.3 million, an increase of 13% compared to total net sales of $185.8 million for the first fiscal quarter last year.

Business Outlook:
For the second fiscal quarter, the Company expects a low to mid-single digit comparable store sales increase over the same period of the prior year. The Company expects earnings for the second fiscal quarter in the range of $0.10 to $0.12 per diluted share. For the full fiscal year 2007, the Company now expects net income to be in the range of $2.42 to $2.46 per diluted share.

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