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 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.
