Gymboree CEO ‘encouraged’ by Q3 comps

A sharper focus on merchandising and marketing netted positive results for Gymboree, as the company reported an increase in same store sales for the third quarter.

But the company did report a steep loss of $522.1 million, compared with a loss of $24 million for the third quarter of fiscal 2013. Same store sales increased 1%. Net sales were$316.8 million, compared with$309.8 millionin the third quarter of fiscal 2013.

"We made progress in the third quarter, which resulted in increased net sales, positive consolidated comparable sales, and increased gross profit dollars as compared to the prior year," said Gymboree CEO Mark Breitbard. "During the quarter, our customers responded favorably to our merchandising and marketing strategies, which led to a significant improvement in trend as compared to the first half of the year. As we begin the holiday selling season, we are encouraged that our comparable sales trend continued in November."

Gymboree Corp. operates 1,355 retail stores: 626 Gymboree stores (572 in the United States, 47 in Canada, 1 in Puerto Rico and 6 in Australia), 174 Gymboree Outlet stores (172 in the United States and 2 in Puerto Rico), 151 Janie and Jack shops and 404 Crazy 8 stores in the United States. The company also operates online stores at www.gymboree.com, www.janieandjack.com and www.crazy8.com, and offers directed parent-child developmental play programs at 702 franchised and company-operated Gymboree Play & Music centers in the United States and 41 other countries.