Gymboree’s earnings jump 56% as sales soar
From the Associated Press
Gymboree Corp. said third-quarter profit jumped 56% as sales surged, but it forecast fourth-quarter profit below Wall Street expectations.
The San Francisco company earned $17.4 million, or 53 cents a share, up from $11.1 million, or 35 cents, last year. Revenue rose 22% to $215.6 million.
The company took a charge of $10.2 million, or 19 cents a share, for the closure of its Janeville division. Gymboree said it expected fourth-quarter profit of 62 cents to 64 cents a share, excluding a 7-cent charge from the Janeville closure. Analysts expect profit of 70 cents a share.
