Gordmans Net Falls 15.9 Percent in Q3
November 30, 2012,
OMAHA, Neb.-Increases in expenses offset a fairly healthy sales gain to drive down net income by 15.9 percent for Gordmans in its fiscal third quarter, to $4 million.
The retailer's selling, general and administrative expenses jumped 12.3 percent in dollars and 130 basis points as a percentage of sales, to 40.4 percent. In addition, an 8.8 percent pickup in cost of goods sold slimmed gross margin by eight basis points, to 44.9 percent.
Looking ahead to the fourth quarter, Gordmans has projected sales to total between $213 million and $215 million, with same-store sales roughly flat with last year's fourth quarter. For the fiscal year, sales are expected to finish between $618 million and $620 million.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.