Crumbs Bake Shop, Inc. (CRMB) Misses Q3 EPS by 7c; Suspends Previous Guidance
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Crumbs Bake Shop, Inc. (NASDAQ: CRMB) reported Q3 EPS of ($0.17), $0.07 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $8.9 million versus the consensus estimate of $10.1 million.
Management is suspending its previously announced guidance for 2011 net sales and adjusted EBITDA but is reaffirming its new store development outlook of 16-18 store openings within existing markets. For 2012, the Company will continue to open stores in both existing markets and new markets such as Boston and Philadelphia and intends to address its overall outlook development and financial outlook when it reports year-end results early next year.
Management is suspending its previously announced guidance for 2011 net sales and adjusted EBITDA but is reaffirming its new store development outlook of 16-18 store openings within existing markets. For 2012, the Company will continue to open stores in both existing markets and new markets such as Boston and Philadelphia and intends to address its overall outlook development and financial outlook when it reports year-end results early next year.
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