Celebrate Express brand repositions girls special occasion apparel
31 Mar '06
3 min read
Washington based leading celebration products online catalog retailer Celebrate Express Inc reported financial results for its third quarter of fiscal 2006 ended February 28, 2006.
Celebrate Express reported net sales of $18.8 million in the third quarter of fiscal 2006, an increase of 15 percent from net sales of $16.3 million during the same period last year.
Net loss for the third quarter of fiscal 2006 was ($398,000), or ($0.05) per diluted share, compared with net income of $521,000, or $0.07 per diluted share, in the third quarter of fiscal 2005. Weighted average diluted shares outstanding were 7.7 million for the third quarter of fiscal 2006, compared with 7.8 million for the third quarter of fiscal 2005.
Revenue from the Company's Birthday Express brand grew 21 percent in the third quarter of fiscal 2006, compared with the same quarter in the prior year, while revenue from the Storybook brand decreased 13 percent over the same period.
The 13 percent decrease in revenue for the Storybook brand during the quarter just ended was due primarily to a reduction of 24 percent in Storybook advertising expenses during the quarter as the Company began repositioning this brand with a higher focus on girls special occasion apparel and a lower focus on girls everyday sportswear.
Gross margin in the third quarter was 47.9 percent of net revenue, compared with 51.6 percent in the third quarter of fiscal 2005. The primary factor contributing to this change was an increase in outbound shipping costs.
marketing@alchempro.com
