Gymboree profit up in Q4, year

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San Francisco Business Times - March 4, 2009

Gymboree profit up in Q4, year

(Note: Gymboree has a large distribution center and telephone/internet call center located in City of Dixon within Solano County)

Children’s clothing seller Gymboree Corp. (NASDAQ: GYMB) reported higher sales and profit for the quarter and year ended January.

The 890-store San Francisco business earned $29.5 million on sales of $288.7 million in the fourth quarter. A year earlier it earned $26.8 million on sales of $278.4 million in the fourth quarter.

For the year ended Jan. 31, Gymboree earned $93.5 million on sales of $1 billion, compared with a profit of $80.3 million on sales of $928.8 million the previous year.

Same store sales, which compare performance only at stores open a full year, were flat for the year and dropped 2 percent in the fourth quarter.

During the year, Gymboree opened 105 new stores.

Gymboree will only make guesses about its sales one quarter into the future during 2009. For the first quarter it expects same store sales to slide 20 percent to 25 percent.

The company hopes to open 75 new stores in the coming year.