Gymboree reports 3Q same-store sales drop

SAN FRANCISCO - Gymboree Corp., a children's clothing retailer, reported Thursday that third-quarter same-store sales fell 2 percent. The company reaffirmed its third-quarter earnings expectations.

Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance because they measure growth at existing stores rather than newly opened ones.

The company said net sales from retail operations for the 13-week period ended Nov. 1 totaled $261.3 million, up 6 percent from $247.6 million a year ago.

Total sales were below Wall Street expectations. Analysts surveyed by Thomson Reuters were expecting third-quarter sales of $278.9 million.

For the third fiscal quarter, Gymboree continues to expect earnings of $1.02 per share to $1.04 per share. Analysts were expecting earnings of $1.03 per share.

The company plans to report third-quarter financial results on Nov. 19.

The company, which operates 873 retail stores, did not provide same-store sales figures specifically for the month of October in a statement Thursday or in a related recorded call.

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