Gymboree key sales figure falls in January, but raises 4th-quarter profit guidance

Gymboree Jan. key sales figure dips, lifts outlook

SAN FRANCISCO — Gymboree Corp. said Thursday that a key sales figure slipped 2 percent in its fiscal fourth quarter, but the children’s apparel retailer lifted its quarterly profit outlook for the second time in less than a month as its net sales improved.

Gymboree now anticipates fourth-quarter profit of $1.08 to $1.10 per share, up from a prior forecast of $1.03 to $1.06 per share.

Analysts surveyed by Thomson Reuters, whose estimates usually remove one-time items, expect a smaller profit of $1.06 per share.

Gymboree said its fourth-quarter retail net sales grew 4 percent to $295.7 million.

The retailer also predicts its full-year earnings will come in above year-ago results.

The company foresees a fiscal 2009 profit of $3.38 to $3.40 per share. It earned $3.21 per share in 2008.

Analysts surveyed by Thomson Reuters on average forecast profit of $3.37 per share for the year.

Gymboree ran 953 stores as of Jan. 30.