Gymboree net loss grows in Q1; will close 30-40 stores

San Francisco – The Gymboree Corp. saw its net loss increase to $22.48 million in the first quarter of fiscal 2015 from $15 million in the first quarter of the preceding fiscal year. Growth in cost of goods sold, selling, general and administrative (SG&A) expenses and interest expense drove the widening net loss.



Gymboree plans to close 30-40 stores and open 12 new stores during the fiscal year.



Total net sales climbed 1% to $261.73 million from $259.12 million, while same-store sales remained flat.