Financial Outlook for Second Fiscal Quarter of 2013The Company's guidance range for the second quarter of fiscal 2013 contemplates a non-GAAP (loss) income per diluted share from continuing operations of between $(0.05) and $0.02, compared to $(0.09) in the second quarter of fiscal 2012. The forecasted second quarter non-GAAP (loss) income from continuing operations per diluted share guidance range is based on the following assumptions:
- Comparable store sales from flat to 5%;
- Revenue from $209 million to $219 million;
- Gross margin rate, including buying, distribution and occupancy, of 28% to 30%;
- SG&A expenses in the range of $59 million to $61 million;
- A normalized annual income tax rate of approximately 37%; and
- An estimated $10 million shift in revenue from the third quarter to the second quarter and a corresponding shift of $0.05 per diluted share as a result of the 53 rd week calendar shift.