The combined store plans for Limited Too and Justice should give Too approx. 9 to 10 percent store square footage growth for 2006.
Too said it expects earnings per diluted share for the second quarter ending July 29th 2006 to be in the range of $0.16 to $0.18, which would be a 33 to 50 percent increase on the $0.12 per diluted share reported for the like period last year. The expected earnings improvement anticipates a comparable store sales increase in the positive mid single-digit range for the quarter.
Based on the results reported today and the earnings increase projected for the second quarter, Too is estimating 2006 annual earnings per diluted share of $2.00 to $2.10, including an estimated $0.05 to $0.06 for stock-based compensation expense. This range of earnings would be 25 to 31 percent higher than the $1.60 per diluted share reported for 2005.
Rayden, commenting on the company's outlook for the balance of the year, said, "For 2006, we see meaningful sales growth, gross margin expansion and leveraging of our SG&A expenses."
Too Inc is a leading specialty retailer for young girls. At Limited Too, the company sells sportswear, related accessories and key lifestyle items for active, fashion-aware 'tween (ages 7 to 14) girls.
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