The Gymboree Corporation Reports Second Quarter Results (GYMB)

The Gymboree Corporation GYMB today reported earnings of $12.3 million or $0.44 per diluted share for the second fiscal quarter ended July 31, 2010. This compares to earnings of $12.2 million or $0.41 per diluted share for the same period of the prior year. Net sales from retail operations for the second quarter totaled $219.3 million, a 3% increase from $212.3 million in net sales from retail operations for the second fiscal quarter of the prior year. Total net sales for the second fiscal quarter were $222.7 million, a 3% increase compared to total net sales of $215.4 million for the second fiscal quarter last year. Gross profit for the second fiscal quarter was 43.5% of sales, an improvement of over 20 basis points compared to the prior year rate of 43.3%. Operating income increased to $19.0 million or 8.5% of sales compared to $17.4 million or 8.1% of sales for the comparable fiscal quarter of the prior year.