Despite Positive Comps, Gordmans Q3 Loss Increases

For the third quarter ended October 31, Gordmans posted a net loss of $2.8 million, or 14 cents per diluted share, versus a net loss of $1.9 million, or 10 cents per diluted share, in the fiscal 2014 period. Comparable store sales gained 0.8%, the company reported.

Net sales advanced 4.9% to $153.9 million, Gordmans stated, versus $146.7 million in the year-ago period.

“We are pleased that the business has returned to positive comparable store sales growth while at the same time fueling a 50 basis point increase in gross profit,” said Andy Hall, Gordmans president and CEO. “The merchandise and marketing initiatives that we’ve implemented over the past year are resonating with our customers, driving improvements in both units per transaction and transaction value. With the successful launch of our e-commerce platform in August, we are now able to bring our unique everyday value priced concept to a much broader audience. We are optimistic that we can maintain our positive momentum in the fourth quarter despite the warm start to November and a tougher sales comparison with a year ago.”

Gordmans operates 102 stores in 22 states.