Gymboree (GYMB) June Comps Up 9%; Seels Narrower Q2 Loss

The Gymboree Corporation (Nasdaq: GYMB) said comparable store sales for the five-week period increased 9%.

For the second fiscal quarter of 2006, the Company now expects a comparable store sales increase in the range of low double digits. Based on the sales gains achieved quarter-to-date, the Company now expects its second fiscal quarter to result in a loss per diluted share in the range of $0.05 to $0.03, including the impact of stock-based compensation. The consensus is a loss of $0.06.

For the full fiscal year 2006, the Company expects earnings of $1.41 to $1.44 per diluted share after the impact of stock-based compensation. The Company previously announced that it adopted FAS Statement 123R "Share-based Payment" beginning in fiscal 2006. The adoption is expected to impact earnings by $0.04 per diluted share in the second fiscal quarter of 2006, and $0.14 to $0.15 per diluted share for the full fiscal year. The consensus is $1.57.

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