Mothers Work reports strong Q3 earnings, ups FY earnings guidance
25 Jul '06
4 min read
Given the company's third quarter results and its plans for the rest of the year, the company is significantly increasing its targeted diluted earnings per share range for fiscal 2006. It is increasing its targeted diluted earnings per share range for fiscal 2006 to between $1.41 and $1.64 per share after stock option expense, from its previous after-option expense guidance range of between $1.05 and $1.25 per share.
Net sales for the third quarter of fiscal 2006 increased 7.3% to $163.9 million from $152.7 million in the same quarter of the preceding year. The increase in net sales for the quarter was primarily driven by increased comparable store sales, with sales increases also realized from the company's internet sales, its licensed arrangement with Kohl's, and its marketing partnerships.
Comparable store sales increased 6.4% during the third quarter of fiscal 2006 versus a comparable store sales decrease of 1.9% during the third quarter of fiscal 2005. For the quarter ended June 30, 2006, it opened one store and closed 17 stores, with one of these store closings related to a prior period multi-brand store opening. It ended the quarter with 815 stores and 1,540 total retail locations, compared to 857 stores and 1,593 total retail locations at the end of June 2005.
Net sales for the first nine months of fiscal 2006 increased 7.9% to $459.9 million from $426.4 million for the same nine months of the preceding year. Comparable store sales increased 3.7% during the first nine months of fiscal 2006 versus a comparable store sales decrease of 3.1% during the first nine months of fiscal 2005.
marketing@alchempro.com
