JACKSONVILLE, Fla., May 2, 2013 (GLOBE NEWSWIRE) -- Body Central Corp. (Nasdaq:BODY) today announced financial results for the first quarter of 2013.
Highlights for the first quarter ended March 30, 2013:
- Net revenues for the quarter decreased 1.5% to $81.4 million, compared to $82.7 million for the first quarter of 2012.
- Store sales rose 2.4% to $72.6 million driven by a net increase of 36 stores over the same quarter last year offset by a comparable-store sales decrease of 10.2%.
- Income from operations was $3.9 million as compared to $9.5 million for the quarter in 2012.
- Net income was $2.7 million, or $0.17 per diluted share based on 16.3 million weighted average shares outstanding. Net income for the first quarter of 2012 was $5.9 million, or $0.36 per diluted share based on 16.4 million weighted average shares outstanding.
- The Company opened 5 new stores and closed 2 stores during the first quarter and operated 279 stores as of March 30, 2013.
Brian Woolf, Body Central's CEO, stated: "Our first quarter results were consistent with our expectations for sales and earnings. While we have made progress towards improving our product assortment, we still expect sales challenges and margin pressure in the second quarter as we work through the legacy inventory and orders prior to transitioning to our fall floor set. We are pleased to announce that we appointed Michael Millonzi as our SVP of Store Operations, Edward Jekot as our VP of Brand Presentation and Barry Landau as VP of Planning & Allocations. We continue to be intently focused on our major initiatives: building the brand, improving the shopping experience for our customers, and creating a true omni-channel retail business. We remain optimistic about our ability to produce improved sales and earnings as we move through the second half of this year."