Too Inc posts higher quarterly sales, earnings on strong sales
15 Feb '06
3 min read
Specialty retailer Too Inc has announced its operating results for the fourth quarter ended January 28th 2006, which included:
1. Net sales growing 14 percent to a record $235.1 million;
2. Gross income as a percentage of net sales increasing 140 basis points;
3. Earnings per diluted share improving by 19 percent to a record $0.80.
The company had record fourth quarter 2005 net income of $27.1 million on record net sales of $235.1 million, compared to fourth quarter 2004 net income of $23.6 million on net sales of $206.8 million.
The higher earnings for the 2005 quarter were primarily a result of increased sales and a higher gross income rate as a percentage of net sales.
Mike Rayden, Too Inc Chairman, President and CEO said, "Our fourth quarter results put an exclamation point on what was a great fall season and year in 2005. Both of our brands, Limited Too and Justice, are making important contributions to our current success and future growth."
Limited Too delivered a same-store sales increase of 5 percent for the 2005 quarter on top of the 5 percent increase reported for the 2004 period. Justice stores provided a 26 percent same-stores sales increase for the 35 stores that were opened at least one year during the quarter.
Accordingly, Justice earned its second straight quarterly operating profit, giving the two-year old division a small operating profit for the year, before corporate overhead allocation.
marketing@alchempro.com
