Too Inc. executives also plan to renovate 30 to 35 of the company's 568 Limited Too units by the end of the year, as well as open an additional 10 to 13. With store openings, remodels and technology spending, Too Inc. faces $50 million to $54 million in capital expenditures this year.

During its Q1, which ended April 30, Too Inc.'s year-over-year same-store sales increased by 1%, compared to a 2% during last year's first quarter. Net sales for the quarter were up 7%, to $164.4 million, while net income was $7.4 million, compared to $5.1 million during the same year-ago period.

Executives said in a conference call that their television advertising campaign has been "disappointing," however, they touted a direct phone-marketing campaign that the company has launched. For this quarter, Too Inc. officials predicted a 1% to 2% year-on-year same-store sales increase.