Tween Brands posts Q2 sales, Justice to open 100 to 105 new stores
22 Aug '07
2 min read
Tween Brands Inc reported its operating results for the second quarter ended August 4, 2007. As compared to the results for the second quarter ended July 29, 2006:
The company said that it is estimating earnings per diluted share for the third quarter ending November 3, 2007 of $.40 to $.45, below the $.58 per diluted share reported for the like period last year. The principal reason for the comparatively lower forecasted range of earnings is a revised estimate of the calendar shift on the company's quarterly sales and earnings comparisons.
In accordance with the 2007 retail calendar, the third quarter shifted the higher sales volume first week of August into second quarter, and moved the lower volume first week of November into third quarter. Also, Limited Too plans to take markdowns earlier in the season compared to last year to better position inventory going into fourth quarter.
The third quarter guidance assumes a consolidated comparable store sales percentage increase in the mid single digit range. By brand, that would equate to an increase for Limited Too in the low single digits and an increase in the mid teens for Justice.
Additionally, Tween Brands said it expects in-store inventories at the end of the third quarter to be down in the mid single digit percentage range on a cost per square foot basis.
The company also said that it expects earnings per diluted share for the fourth quarter ending February 2, 2008 to be inthe range of $0.94 to $1.04, which would be a 9% to 21% increase on the $0.86 per diluted share reported for fourth quarter 2006.
marketing@alchempro.com
