Preliminary Results for the Third Quarter of Fiscal Year 2020
For the third quarter ended December 28, 2019, the Company expects to report:
- Net sales increased 11.8% to approximately $284 million.
- Same store sales increased approximately 6.7%, including an increase in retail store same store sales of approximately 5.7% and an increase in e-commerce sales of approximately 11.0%. This compares with third quarter guidance of 5.0%. Same store sales increased approximately 6.0% for the combined fiscal November and December period.
- Net income per diluted share of approximately $0.85 based on 29.4 million weighted average diluted shares outstanding. This compares to third quarter guidance of $0.73 to $0.77 per share. Net income per diluted share in the current-year period includes an approximately $0.04 per share benefit due to income tax accounting for share-based compensation. Excluding the tax benefit, net income per diluted share in the current-year period grew 23% to $0.81, compared to $0.66 in the prior-year period.