Gordmans Stores Rockets Higher on Q4 Results
Shares of Gordmans Stores (NASDAQ: GMAN) are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 10.10%, trading at $17.00; they ended the regular session lower by 0.19%, at $15.44.
Gordmans Stores reported Q4 EPS of $0.53 on revenues of $185.1 million; the Street was looking for $0.50 per share on revenues of $186.14 million. Revenues increased by 9.9% year over year.
Jeff Gordman, President and Chief Executive Officer, stated: "We delivered strong operating results for the fourth quarter driven primarily by comparable store sales growth of 2.1%, sales from the six new stores opened during 2011 and the continued expansion of our gross profit margins, as well as solid management of store level expenses.”
“The sales and gross margin performance helped us leverage expenses and deliver adjusted net income growth of 21.2% over the fourth quarter last year. We begin 2012 with sound strategies in place to maintain our positive comparable store sales growth momentum and we are well positioned to successfully execute our aggressive store expansion plan."
The company currently expects net sales to be between $132 million and $133 million, which reflect a low-single digit comparable store sales increase. The company projects diluted earnings per share in the range of $0.40 to $0.41.
Gordmans Stores, Inc. is an everyday low-price department store retailer featuring a selection of the brands, fashions and styles at up to 60% of department and specialty store prices every day.
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