January 31, 2015 4:26 PM ET

Specialty Retail

Company Overview of The Gymboree Corporation

Company Overview

Gymboree Corp., a specialty retailer in San Francisco, offers apparel, accessories, and play programs for children in the U.S. and Canada. It has four divisions: Gymboree, Gymboree Outlet, Janie and Jack, and Gymboree Play & Music. The Gymboree division operates 575 stores as well as an online store (gymboree.com). Outlet has 42 stores; Janie and Jack, 81, plus janieandjack.com; Play & Music develops parent-child play programs and offers classes developed by early-childhood experts, as well developmental toys, books, and music. The division runs three play centers in California and 545 franchisee-operated play centers in the U.S. and worldwide. Gymboree was founded in 1976.

500 Howard Street

San Francisco, CA 94105

United States

Founded in 1976

6,072 Employees

Phone:

415-278-7000

Key Executives for The Gymboree Corporation

Chief Executive Officer and Director
Age: 46
Chief Financial Officer
Age: 41
Chief Operating Officer
Age: 47
Vice President and General Counsel
Chief Sourcing & Production Officer
Age: 61
Compensation as of Fiscal Year 2014.

The Gymboree Corporation Key Developments

The Gymboree Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Provides Earnings Guidance for the Second Half and Full Year of 2015

The Gymboree Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended November 1, 2014. For the thirteen weeks, the company reported total net sales of $316,819,000 against $309,838,000 a year ago. Operating loss was $579,154,000 against operating income of $12,269,000 a year ago. Loss before income taxes was $599,899,000 against $8,154,000 a year ago. Net loss attributable to the company was $522,075,000 against $23,985,000 a year ago. Adjusted EBITDA was $29,787,000 against $33,902,000 a year ago. Net sales from retail operations for the third quarter were $304.3 million, up 2.3% or $6.9 million from $297.4 million for the third quarter last year. This sales increase was driven by net new door growth and a 1% comparable sales increase compared to the third quarter of 2013. The decrease in adjusted EBITDA was driven by the increase in SG&A, adjusted for acquisition-related charges, fixed asset impairments and other nonrecurring charges, partially offset by an increasing gross profit dollars. CapEx for the quarter was $7.8 million. For the thirty-nine weeks, the company reported total net sales of $853,132,000 against $893,537,000 a year ago. Operating loss was $583,862,000 against operating income of $34,176,000 a year ago. Loss before income taxes was $645,823,000 against $27,116,000 a year ago. Net loss attributable to the company was $566,659,000 against $35,871,000 a year ago. Net cash used in operating activities was $36,499,000 against net cash provided by operating activities of $23,286,000 a year ago. Capital expenditures were $24,372,000 against $35,213,000 a year ago. Adjusted EBITDA was $61,379,000 against $94,679,000 a year ago. For the full year 2015, the company expected adjusted EBITDA in the range of $90 million to $100 million. Based on this guidance, the company expects to have sufficient liquidity during the next 12 months to service its debt and invest in the business to drive long-term growth. The company anticipates the capital spend will be in the range of $35 million to $45 million. CapEx guidance remains unchanged at $35 million to $40 million for the year. At the low end of this range, second half adjusted EBITDA will be flat to the second half of last year.

The Gymboree Corporation, Q3 2015 Earnings Call, Dec 11, 2014

The Gymboree Corporation, Q3 2015 Earnings Call, Dec 11, 2014

The Gymboree Corporation Announces Management and Audit Committee Changes

On November 5, 2014, The Gymboree Corporation appointed Andrew B. North to serve as Chief Financial Officer of the company beginning November 17, 2014. Mr. North will succeed Lynda Gustafson who will return to her role as a Senior Advisor to the company through approximately mid-December 2014. Mr. North joins the company from Lucky Brand where he served as Chief Financial Officer from October 2011 to June 2014 and as a consultant since June 2014. Effective as of November 5, 2014, the company elected Maxine Clark and Mark Weikel to serve on the company's Board of Directors to serve in accordance with the company's bylaws. Mr. Weikel will serve on the audit committee of the Board. The company believes that Ms. Clark's proven track record of identifying and developing a unique niche within children's retail as Founder of Build-A-Bear Workshop and Mr. Weikel's strong retail operations background with industry retailers, including Luxottica, Lord & Taylor, L. Brands and The May Department Stores company will add to the diversity and experience of its existing Board members.

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