The company, which operates 575 Limited Too stores in the US and Puerto Rico, also projects a net income per diluted share for the quarter of $0.63 compared to $0.51 last year's Q4. Too Inc. plans to release its quarterly earnings on Feb. 16.
Company officials attribute the improvement to better holiday sales and less promotional markdowns. "Within our strong holiday sales results is the terrific performance by Limited Too's early spring apparel in stores in the warmer climates," said Mike Rayden, Chairman, President and CEO of Too, Inc. The retailer's spring line will roll out on Jan. 24.
Too Inc. also posted favorable Q3 results. The company reported a same-store sales increase of 11% compared to the same year-ago period. In 2003, Q3 same-store sales were down 17%. Net sales jumped 20%, to $174.9 million during the quarter.
Other than its Limited Too chain, Too Inc. operates its cheaper Justice stores. The retailer currently operates 33 of those units and plans to open 50 to 60 new ones this year. Justice replaced the retailer's Mishmash chain, a sportswear concept that it discontinued in 2003.
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