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Wednesday, November 18, 2009
Gymboree 4Q Outlook Disappoints
By Kathryn Glass
FOXBusiness
Children’s apparel retailer Gymboree Corp. (GYMB) reported better-than-expected third-quarter earnings, but gave disappointing guidance for the fiscal fourth quarter.
The company forecast fiscal fourth-quarter earnings ranging from 95 cents to $1.03 per share and expects a low to mid-single digit drop in comparable-store sales. Analysts were expecting earnings of $1.12 a share for the quarter, according to analysts polled by Thomson Reuters.
In the third quarter, Gymboree saw profit of $34.8 million or $1.15 a share, compared to earnings of $30.9 million or $1.06 a share, one year ago. Analysts were expecting earnings of $1.13 a share.
Revenue rose to $269.1 million, compared to sales of $264.1 million a year ago.
Shares of Gymboree fell 51 cents or 1.23% in Wednesday’s session to close at $40.99 a share. The stock fell another 69 cents or 1.68% after-hours trading.
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