September 01, 2014 5:40 PM ET

Specialty Retail

Company Overview of The Gymboree Corporation

Company Overview

Gymboree Corp., a specialty retailer in San Francisco, offers apparel, accessories, and play programs for children in the U.S. and Canada. It has four divisions: Gymboree, Gymboree Outlet, Janie and Jack, and Gymboree Play & Music. The Gymboree division operates 575 stores as well as an online store (gymboree.com). Outlet has 42 stores; Janie and Jack, 81, plus janieandjack.com; Play & Music develops parent-child play programs and offers classes developed by early-childhood experts, as well developmental toys, books, and music. The division runs three play centers in California and 545 franchisee-operated play centers in the U.S. and worldwide. Gymboree was founded in 1976.

500 Howard Street

San Francisco, CA 94105

United States

Founded in 1976

6,072 Employees

Phone:

415-278-7000

Key Executives for The Gymboree Corporation

Chief Executive Officer and Director
Age: 46
Interim Chief Financial Officer
Age: 50
Chief Operating Officer
Age: 47
Vice President and General Counsel
Chief Sourcing & Production Officer
Age: 61
Compensation as of Fiscal Year 2014.

The Gymboree Corporation Key Developments

The Gymboree Corporation Announces Executive Changes, Effective as of July 24, 2014

The Gymboree Corporation announced that on July 8, 2014, Evan Price gave notice of his resignation as the chief financial and principal accounting officer of the company in order to pursue another opportunity. Mr. Price's resignation is effective as of July 24, 2014. While the company searches for a permanent replacement for Mr. Price, Lynda Gustafson has agreed to act as the company's interim Chief Financial Officer, effective as of July 24, 2014. Ms. Gustafson, 50, served as the company's Vice President, Corporate Controller from February 2005 through June 2014 and has been serving as a Senior Advisor to the company since June 2014.

The Gymboree Corporation Announces Unaudited Consolidated for the First Quarter Ended May 3, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2015; Plans to Open Approximately 50 New Stores in Fiscal 2015

The Gymboree Corporation announced unaudited consolidated for the first quarter ended May 3, 2014. For the quarter, the company reported total net sales of $272,010,000 compared with $292,783,000 for the same period a year ago. Operating income was $6,068,000 compared with $16,844,000 for the same period a year ago. Loss before income taxes was $14,627,000 compared with $3,508,000 for the same period a year ago. Net loss attributable to The Gymboree Corporation was $13,431,000 compared with $2,536,000 for the same period a year ago. Net cash used in operating activities was $14,683,000 compared with net cash provided by operating activities of $19,718,000 for the same period a year ago. Capital expenditures was $9,353,000 compared with $10,658,000 for the same period a year ago. Adjusted EBITDA was $22,031,000 compared with $35,978,000 for the same period a year ago. The company provided earnings guidance for the full year of fiscal 2015. For the full year, the company expects Adjusted EBITDA to be approximately flat compared to fiscal 2014. Based on this guidance, the company expects to have sufficient liquidity during fiscal 2015 to service its debt and invest in the business to drive long-term growth. Furthermore, the company anticipates utilizing its ABL facility throughout the course of the year to support seasonal working capital needs and does not anticipate having any outstanding borrowings by fiscal year end. During fiscal 2015, the company now anticipates spending approximately $35 million to $40 million for capital expenditures. During fiscal 2015, the company plans to open approximately 50 new stores, distributed fairly evenly across the brands, and close approximately 25 to 30 stores.

The Gymboree Corporation Announces Board Changes

On June 6, 2014, The Gymboree Corporation elected Lewis Klessel to the company’s board of directors where he will serve on the audit committee. Mr. Klessel is a managing director at Bain Capital. On the same date, Yvonne Hao resigned as a director of the company.

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