Gordman\'s Stores (GMAN) Q4 Comps Rose 2.6%; Midpoint of Revs, EPS Guidance Boosted

Gordman\'s Stores (NASDAQ: GMAN) updated its outlook for the fourth quarter ending January 31, 2015.

The Company announced that fourth quarter comparable sales through January 3, 2015 declined 2.6%. Based on this performance, the Company now expects net sales for the fourth quarter of fiscal 2014 to be between $202 and $204 million compared to its previous guidance range of $198 to $202 million. The Company now expects diluted earnings per share to be in the range of $0.05 to $0.08, compared to its previous guidance range of $0.03 to $0.08.

Andy Hall, President and Chief Executive Officer, commented, "We were pleased to see comparable store sales accelerate as we progressed through December, highlighted by positive store traffic the last two weeks of December. This allowed us to invest in more permanent markdowns, which is consistent with our stated strategy of clearing current, slower moving merchandise in season. As a result, our overall inventories are very clean, our aging much improved to last year and the content of our clearance inventory is appropriately fall/winter goods."

The Company also announced that management will present at the 17th Annual ICR XChange Conference on January 12, 2015 at 9:30 am Eastern Time. A live broadcast of the presentation may be accessed at http://investor.gordmans.com/events.cfm. Interested parties are advised to log on to the live webcast at least fifteen minutes prior to the presentation in order to download the necessary software.

You May Also Be Interested In

• BayCom Corp (BCML) Misses Q1 EPS by 4c
• Endexx Corporation (EDXC) Reports Q1 Loss of $0.01
• Marten Transport (MRTN) Misses Q1 EPS by 2c