News Flash

Girls apparel retailer Too Inc net sales up 7% at $164.4mn for Q1

19 May '05

3 min read

Store Growth
Justice opened 11 stores during the 2005 quarter, including its first locations in Arizona, Massachusetts and South Carolina. The company reiterated its plan to open 50 to 60 Justice stores in 2005, primarily in retail power strip centers.

Limited Too remodeled 5 existing stores during the quarter, opened 2 new stores, completed 1 separation from adjacent The Limited stores and closed 2 underperforming stores. All of the new stores and remodels were done in Limited Too's newer, "It's a Girl's World" store design format, introduced in November 2004.

Capital Budget
Too said its 2005 capital budget is in the range of $50 to $54 million, with spending targeted primarily for new stores, remodeling or expansion of existing stores, and upgrades to information technology systems. Capital spending in 2004 totaled $23.8 million.

Second Quarter Outlook
Too said it expects its second quarter 2005 earnings per diluted share to be flat with last year's restated $0.05 per diluted share. The company added that customer reaction to the first twelve days of Limited Too's May sale has been below expectations, and it has pared its projected comparable store sales increase for second quarter to a range of 1% to 2%.

Too Inc is a leading specialty retailer for young girls. At Limited Too, the company sells sportswear, related accessories, footwear, lifestyle and personal care products for active, fashion-aware 'tween (ages 7 ear, related accessories, footwear, lifestyle and personal care products for active, fashion-aware 'tween (ages 7 to 14) girls.

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