Body Central Corp. Announces Fourth Quarter 2012 Sales Results and Revises
JACKSONVILLE, Fla., Jan. 15, 2013 (GLOBE NEWSWIRE) -- Body Central Corp.
(Nasdaq:BODY) today announced sales results for the fourth quarter and fiscal
year ended December 29, 2012 and lowered guidance for fourth quarter 2012
Sales results for the fourth quarter ended December 29, 2012:
oNet revenues for the quarter increased 0.4% to $81.0 million, compared to
$80.7 million for the fourth quarter of 2011.
oStore sales increased 1.2% to $73.8 million. Comparable store sales
oBased on sales results in the fourth quarter, the Company now expects
fourth quarter diluted EPS to be in the range of $0.10 to $0.12 per share.
oThe Company opened 13 stores in the quarter and operated 276 stores as of
December 29, 2012.
Sales results for the fifty-two weeks ended December 29, 2012:
oNet revenues increased 4.9% to $311.0 million from $296.5 million for the
same period a year ago.
oStore sales rose 5.1% to $275.1 million driven primarily by a 15% increase
in store count offset by a comparable store sales decrease of 8.1%.
oThe Company now expects full year diluted EPS to be in the range of $0.68
to $0.70 per share. Also included in the full year EPS estimate is the
$600,000 pre-tax charge (or $0.02 per share) taken in the third quarter
related to severance expense for the former CEO.
Tom Stoltz, Body Central's interim CEO, COO, and CFO, stated: "We are
disappointed in our recent results as sales trends did not improve from the
third quarter. We were more promotional than planned during December in
response to the competitive environment which resulted in weaker merchandise
margins. While we believe that our current initiatives will have a positive
impact on the business, we now anticipate that it will be later in 2013 before
they have a meaningful impact on our performance."
Reported results are preliminary and remain subject to adjustment until the
filing of our Form 10-K with the SEC.
About Body Central
Founded in 1972, Body Central Corp. is a growing, multi-channel, specialty
retailer offering on trend, quality apparel and accessories at value prices.
As of December 29, 2012 the Company operated 276 specialty apparel stores in
26 states under the Body Central and Body Shop banners, as well as a direct
business comprised of a Body Central catalog and an e-commerce website at
www.bodyc.com. The Company targets women in their late teens and twenties from
diverse cultural backgrounds who seek the latest fashions and a flattering
fit. Stores feature an assortment of tops, dresses, bottoms, jewelry,
accessories and shoes sold primarily under the Company's exclusive Body
Central® and Lipstick® labels.
Safe Harbor Language
Certain statements in this release are "forward-looking statements" made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Words such as "guidance," "expects," "intends,"
"projects," "plans," "believes," "estimates," "targets," "anticipates," and
similar expressions are used to identify these forward-looking statements.
Forward-looking statements are based on our current expectations and
assumptions, which may not prove to be accurate. These statements are not
guarantees and are subject to risks, uncertainties and changes in
circumstances that are difficult to predict. Many factors could cause actual
results to differ materially and adversely from these forward-looking
statements. Among these factors are (1) our ability to identify and respond to
new and changing fashion trends, customer preferences and other related
factors; (2) our ability to execute successfully our growth strategy; (3)
changes in consumer spending and general economic conditions; (4) changes in
the competitive environment in our industry and the markets we serve,
including increased competition from other retailers; (5) our new stores or
existing stores achieving sales and operating levels consistent with our
expectations;(6) the success of the malls and shopping centers in which our
stores are located; (7) our dependence on a strong brand image; (8) our direct
business growing consistently with our growth strategy; (9) our information
technology systems supporting our current and growing business, before and
after our planned upgrades; (10) disruptions to our information systems in the
ordinary course or as a result of systems upgrades; (11) our dependence upon
key executive management or our inability to hire or retain additional
personnel;(12) disruptions in our supply chain and distribution facility;
(13) our lease obligations; (14) our reliance upon independent third-party
transportation providers for all of our product shipments; (15) hurricanes,
natural disasters, unusually adverse weather conditions, boycotts and
unanticipated events; (16) the seasonality of our business; (17) increases in
costs of fuel, or other energy, transportation or utilities costs and in the
costs of labor and employment; (18) the impact of governmental laws and
regulations and the outcomes of legal proceedings;(19) our maintaining
effective internal controls; and (20) our ability to protect our trademarks or
other intellectual property rights.
CONTACT: Tom Stoltz
Body Central Corp.
Interim CEO, COO and CFO
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