logo
Share SHARE
FONT-SIZE Plus   Neg

Gordmans Stores Q1 Comps Up 4.7%, Backs FY13 Outlook

Apparel and home decor retailer Gordmans Stores Inc. (GMAN) Friday said its profit for the first quarter increased 10.6 percent, driven by 4.7 percent rise in comparable sales and a double-digit growth in revenues.

The Omaha, Nebraska-based company reported a first-quarter net profit of $8.05 million or $0.41 per share, compared to $7.28 million or $0.38 per share last year. On average, five analysts polled by Thomson Reuters expected the company to earn $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 13.8 percent to $133.92 million from $117.68 million in the prior-year quarter. Four analysts had a consensus revenue estimate of $131.56 million for the quarter.

For the quarter, comparable store sales for the thirteen weeks increased 4.7 percent from last year.

Looking ahead, the company expects second quarter earnings in the range of $0.17 to $0.18 per share. Revenues for the second quarter are anticipated in the range of $130 million and $131 million. Analysts currently expect the company to earn $0.18 per share for the quarter, with revenues of $132.94 million.

Further, the company said it remains confident to realize its sales and profit guidance for fiscal 2012. The company expects full-year 2013 earnings to range between $1.46 and $1.51 per share. Revenues for the year are projected in the range of $629 million and $634 million. Analysts currently expect earnings of $1.51 per share for the year, with revenues of $630.46 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items. In an unusual incident, an Airbus operated by Singapore Airlines temporarily lost power on both its Rolls Royce engines during a flight and plunged almost 13,000 feet or 3.96 kilometers. However, pilots managed to save the Airbus through standard operational procedures and it continued on its routine path. Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet.
comments powered by Disqus
Follow RTT