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Gymboree reports Q3 2007 results

21
Nov '07
The Gymboree Corporation reported earnings for the third fiscal quarter ended November 3, 2007, of $26.9 million or $0.91 per diluted share. This compares to earnings from continuing operations of $24.6 million or $0.75 per diluted share for the same period of the prior year.

"Our markdown and promotional strategies allowed us to exceed our original gross margin dollar plan for the quarter despite a more promotional retail environment in the mall," said Matthew McCauley, Chairman and Chief Executive Officer.

"Additionally, our ongoing strategy of being prepared through tight controls on expenses allowed us to leverage SG&A expenses while investing in our new Crazy 8 concept and incremental marketing."

Net sales from retail operations for the fiscal quarter ended November 3, 2007, totaled $247.6 million, an 18% increase over the $210.0 million in net sales for the third quarter of the prior year.

As previously reported, comparable store sales for the third fiscal quarter increased 8% over the same period last year. Total net sales for the third fiscal quarter were $250.7 million, an increase of 18% compared to total net sales of $212.7 million for the third quarter last year.

Business Outlook:
For the fourth fiscal quarter, the Company expects a low single digit comparable store sales increase over the same period of the prior year. The Company expects earnings for the fourth fiscal quarter in the range of $0.78 to $0.80 per diluted share. For the full fiscal year 2007, the Company now expects net income to be in the range of $2.54 to $2.56 per diluted share.

Management Presentations:
The live broadcast of the discussion of third quarter 2007 financial results will be available to interested parties at 1:30 p.m. PT (4:30 p.m. ET) on Tuesday, November 20, 2007. A replay of the call will be available two hours after the broadcast through midnight ET, Tuesday, November 27, 2007.

The Gymboree Corporation


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