Thursday November 5, 7:58 am Eastern Time
Company Press Release
Gymboree Reports October Sales
BURLINGAME, Calif.--(BUSINESS WIRE)--Nov. 5, 1998--The Gymboree Corporation (NASDAQ: GYMB - news) reported net sales for the four week period ended October 31, 1998 of $37.4 million, an increase of 18% from net sales of $31.7 million for the same period last year. Comparable store sales for the four week period decreased 3% compared to last year.
Net sales for the third fiscal quarter ended October 31, 1998 were $113.9 million, an increase of 13% from net sales of $101.1 million for the same period last year. Comparable store sales for the quarter
decreased 7% compared to last year.
Total store sales for the 39 weeks ended October 31, 1998 were $316.9 million, an increase of 23% from sales of $258.0 million for the same period last year. Comparable store sales for the 39 week period increased 2% compared to last year.
The Gymboree Corporation designs, manufactures, and retails unique, high quality apparel and accessories for children from birth to seven years of age. The Company operates 548 stores which includes 513 stores in the U. S., 14 stores in Canada, and 21 stores in Europe. The Company also offers directed parent-child developmental play programs at over 408 franchised and company operated centers.
The foregoing paragraphs may contain forward-looking statements within the meaning of the Federal Securities laws. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including competitive market conditions, the degree of promotional pricing activity by the Company, inventory levels, the ability of the Company to successfully identify and respond to emerging children's fashion trends, the ability of the Company to effectively monitor and control costs, the ability of the Company to effectively manage international
and domestic growth, levels of discretionary consumer spending and general economic conditions. Other factors that may cause actual results to differ materially include those set forth in the reports
that the Company files from time to time with the Securities and Exchange Commission.
Contact:
The Gymboree Corp.
Investor Contact, 650/696-7540
or
Kekst and Company
Dawn Dover, 212/521-4817 (Media Contact)
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