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

Quick Facts

Editors Pick
Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company. Concept drawings for a giant U-shaped skyscraper in the New York City were released this week, which is deemed to be the longest building in the world. The concept, which is called Big Bend, would be a skinny, curved structure. The glass-lined tower would be in the shape of an upside U and will be running 4,000-feet-long from end to end on Billionaire's Row. Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added.
comments powered by Disqus
RELATED NEWS
Trade GMAN now with 
Follow RTT