The Gymboree Corporation Reports Second Quarter Sales Results; Issues Preliminary Guidance for Third Quarter
06 August 2009 - 9:55PM
PR Newswire (US)
SAN FRANCISCO, Aug. 6 /PRNewswire-FirstCall/ -- The Gymboree
Corporation (NASDAQ:GYMB) reported net sales from retail operations
for the second fiscal quarter ended August 1, 2009, of $212.3
million, an increase of 5% compared to net sales from retail
operations of $202.8 million for the second fiscal quarter of the
prior year. Comparable store sales for the second fiscal quarter
decreased 1%. The Company now expects earnings for the second
fiscal quarter to be in the range of $0.36 to $0.39 per diluted
share. This is an improvement from the prior guidance of $0.19 to
$0.24 per diluted share and reflects an anticipated $0.04 benefit
from a lower than expected effective tax rate in the quarter. This
compares to earnings per diluted share results of $0.27 in the
second fiscal quarter of the prior year. "July provided a strong
finish to the quarter allowing us to guide for better than expected
top and bottom line results," said Matthew McCauley, Chairman and
CEO. "By offering great product at compelling prices through a
combination of existing and new marketing efforts, we were able to
drive better than expected revenues and, more importantly, year
over year earnings growth." The Company expects comparable store
sales for the third fiscal quarter to be down in the range of low
single digits. It anticipates earnings per diluted share for the
third fiscal quarter in the range of $0.95 to $1.03. Management
will provide more background around its earnings guidance on its
second quarter earnings conference call scheduled for August 19
after market close. Management Presentation For more information
about July and second quarter sales, please listen to The Gymboree
Corporation's monthly sales recording by calling the Company's
Investor Relations Hotline at 415-278-7933. The recording will be
available Thursday, August 6 at 7:55 a.m. ET through Wednesday,
August 12 at 11:59 p.m. PT. The live broadcast of the discussion of
second quarter 2009 financial results will be available to
interested parties at 1:30 p.m. PT (4:30 p.m. ET) on Wednesday,
August 19, 2009. To listen to the live broadcast over the internet,
please log on to http://www.gymboree.com/, click on "Our Company"
at the bottom of the page, go to "Investor and Media Relations" and
then "Conference Calls, Webcasts & Presentations." A replay of
the call will be available two hours after the broadcast through
midnight PT, Wednesday, August 26, 2009, at 800-642-1687. About The
Gymboree Corporation The Gymboree Corporation's specialty retail
brands offer unique, high-quality products delivered with
personalized customer service. As of August 1, 2009, the Company
operated a total of 926 retail stores: 624 Gymboree stores (591 in
the United States, 31 in Canada and 2 in Puerto Rico), 135 Gymboree
Outlet stores, 120 Janie and Jack shops and 47 Crazy 8 stores in
the United States. The Company also operates online stores at
http://www.gymboree.com/, http://www.janieandjack.com/ and
http://www.crazy8.com/, and offers Gymboree Play & Music
directed parent-child developmental play programs at 616 franchised
and Company-operated centers in the United States and 30 other
countries. Forward-Looking Statements The foregoing financial
information for the second fiscal quarter ended August 1, 2009, is
unaudited and subject to quarter-end and year-end adjustment. The
foregoing paragraphs contain forward-looking statements relating to
The Gymboree Corporation's anticipated sales growth and future
financial performance. These are forward-looking statements for
purposes of the safe harbor provisions under the Private Securities
Litigation Reform Act of 1995. Actual results could vary materially
as a result of a number of factors, including increasing levels of
unemployment and consumer debt, extreme volatility in the financial
markets, current recessionary economic conditions, customer
reactions to new merchandise, service levels and new concepts,
success in meeting our delivery targets, the level of our
promotional activity, our gross margin achievement, our ability to
appropriately manage inventory, general economic conditions,
effects of future embargos from countries used to source product,
and competitive market conditions. Other factors that may cause
actual results to differ materially include those set forth in the
reports that we file from time to time with the Securities and
Exchange Commission, including our annual report on Form 10-K for
the year-ended January 31, 2009. These forward-looking statements
reflect The Gymboree Corporation's expectations as of August 1,
2009. The Gymboree Corporation undertakes no obligation to update
the information provided herein. Gymboree and Janie and Jack and
Crazy 8 are registered trademarks of The Gymboree Corporation.
DATASOURCE: Gymboree Corporation CONTACT: Investors, Jeffrey P.
Harris, +1-415-278-7933, , or Media, Mark Mizicko, +1-415-278-7503,
, both of Gymboree Corporation Web Site: http://www.gymboree.com/
http://www.crazy8.com/ http://www.janieandjack.com/
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