This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Body Central Corp. Announces Second Quarter 2013 Financial Results

Stocks in this article: BODY

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,070.50 +16.79 0.09%
S&P 500 2,088.97 +0.20 0.01%
NASDAQ 4,807.6610 +0.8020 0.02%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs