Gordman's Stores (GMAN) Tops Q2 EPS by 5c; Guides for Wide Q3 Loss

Gordman's Stores (NASDAQ: GMAN) reported Q2 EPS of ($0.09), $0.05 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $143.4 million versus the consensus estimate of $145.45 million.

Comparable store sales on an owned plus licensed basis decreased 1.6%. On an owned basis, comparable store sales declined 1.7%, in line with guidance. Both the owned and owned plus licensed bases were negatively impacted by approximately 1.0% due to a sales tax holiday shift from July to August.

For the 2015 third quarter, the Company expects net sales to be between $153 and $156 million, which reflects a flat to low-single digit comparable store sales increase on an owned plus licensed basis. The Company expects gross profit margin to improve versus last year. Selling, general and administrative expenses are expected to deleverage in the third quarter primarily due to additional advertising, depreciation, e-commerce and pre-opening/closing expenses. The Company projects a diluted loss per share in the range of ($0.15) to ($0.12) for the third quarter. The weighted average diluted share count is expected to be approximately 19.4 million.

*** The Street sees Q3 revenue of $155.8 million and loss of $0.10 per share.

For earnings history and earnings-related data on Gordman's Stores (GMAN) click here.

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