This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Body Central Corp. Announces Second Quarter 2013 Financial Results

JACKSONVILLE, Fla., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Body Central Corp. (Nasdaq:BODY) today announced financial results for the second quarter of 2013.

Highlights for the thirteen weeks ended June 29, 2013:
  • Net revenues for the quarter decreased 5.3% to $75.1 million, compared to $79.4 million for the second quarter of 2012.
  • Store sales decreased 2.1% to $66.9 million due to a comparable-store sales decrease of 13.2%, partially offset by a net increase of 29 stores over the same quarter last year.
  • Direct sales decreased by 25.0% to $8.3 million from $11.0 million over the same quarter last year.
  • The loss from operations includes a $10.4 million asset impairment charge related to the direct business. The loss from operations including this impairment was $15.2 million, as compared to income from operations of $5.5 million for the second quarter in 2012. Excluding the $10.4 million impairment charge, the loss from operations would have been $4.8 million.
  • The net loss was $12.8 million, or ($0.78) per diluted share based on 16.3 million weighted average shares outstanding. This includes $10.4 million, or ($0.63) per diluted share in an asset impairment charge related to the direct business. Excluding the $10.4 million impairment charge, the net loss would have been $2.4 million, or ($0.15) per diluted share. Net income for the second quarter of 2012 was $3.4 million, or $0.21 per diluted share based on 16.4 million weighted average shares outstanding.
  • The Company opened 9 new stores and closed 2 stores during the second quarter and operated 286 stores as of June 29, 2013.

Brian Woolf, Body Central's CEO, stated: "While we did not anticipate improvement in our results until the second half, our second quarter performance was more challenging than we expected. During the quarter we took aggressive steps to clear inventory to make room for the new product assortment that we believe better reflects the tastes of our customer. We also brought product in earlier than last year in order to set the floors for the Back-to-School season, which contributed to higher inventory levels at the end of the quarter. Our comparable sales decrease and merchandise margin pressure was the result of a decline in store traffic combined with deep markdowns. In the direct business, we saw a significant decline in sales and margin as the result of our strategic decision to more closely align our catalog and website with the offering in our retail stores."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,744.41 -6.98 -0.04%
S&P 500 2,107.53 -1.04 -0.05%
NASDAQ 5,123.4550 +11.7220 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs