Too, Inc. (New Albany, Ohio) announced that based on operating results for the 10-week period ended July 13, 2002, it expects to report earnings of 14 to 15 cents per diluted share for the second quarter ending Aug. 3, 2002 (two to three cents per share above analysts'consensus estimates).
The retailer reported earnings of nine cents per diluted share for the second quarter 2001. Too also said it expects comparable-store sales for the second quarter 2002 to be flat to slightly positive over the like period last year.
“Significantly higher merchandise margins, well-managed inventories and expense controls are driving the expected earnings improvement,” said chairman and ceo Michael Rayden.
Too Inc., a spinoff from The Limited (Columbus, Ohio), operates about 460 Limited Too stores in 46 states, offering apparel, shoes, accessories, cosmetics, toiletries, personal care accessories and some home goods for tween girls (ages 7-14). The company has also opened a new chain of stores called mishmash, aimed at teens 14-19.