UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 8, 2016
GORDMANS STORES, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-34842 | 26-3171987 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
1926 South 67th Street
Omaha, Nebraska 68106
(Address of principal executive offices, zip code)
(402) 691-4000
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. | RESULTS OF OPERATIONS AND FINANCIAL CONDITION. |
On January 8, 2016, Gordmans Stores, Inc. (the Company) issued a press release providing updated earnings guidance for the fourth quarter of fiscal 2015 ending January 30, 2016. A copy of the press release is attached hereto as Exhibit 99.1.
The information, including Exhibit 99.1, in this Form 8-K is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, except as shall otherwise be expressly set forth by specific reference in such filing.
Item 7.01. | REGULATION FD DISCLOSURE. |
The Company also announced in the press release that is presenting at the 18th Annual ICR XChange Conference on January 12, 2016 at 8:30 a.m. EST. The Company is represented at the conference by Andy Hall, President and Chief Executive Officer and James Brown, Executive Vice President and Chief Financial Officer.
Item 9.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
99.1 Press Release of Gordmans Stores, Inc. dated January 8, 2016. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GORDMANS STORES, INC. | ||||||||
Date: January 8, 2016 | By: | /s/ James B. Brown | ||||||
Name: | James B. Brown | |||||||
Title: | Executive Vice President, Chief Financial Officer, and Treasurer |
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EXHIBIT INDEX
99.1 Press Release of Gordmans Stores, Inc. dated January 8, 2016. |
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Exhibit 99.1
Gordmans Stores, Inc. Reports November/December Sales and Updates Fourth Quarter 2015 Outlook
Company to Participate in the 2016 ICR Conference
OMAHA, NE January 8, 2016 Gordmans Stores, Inc. (NASDAQ: GMAN), an Omaha-based apparel and home décor retailer, today announced that its comparable store sales on an owned plus licensed basis declined by 1.9 percent for the combined November and December period, compared with the same period last year.
Andy Hall, President and Chief Executive Officer, commented, Following a positive start to the fourth quarter, sales declined in December as unfavorably warm weather throughout our upper mid-west foot print negatively impacted pre-Christmas store traffic. On the positive side, the customer responded favorably to our merchandise assortments, underscored by our mid-single digit increase in average transaction value. We are encouraged by the post-Christmas sales trend and we continue to believe that we have the right strategies in place to drive consistent top and bottom line growth and increased shareholder value over the long-term.
Outlook
Based on quarter-to-date results, the Company now expects comparable store sales for the fourth quarter of fiscal 2015 to be down 1.0 to 1.5 percent on an owned plus licensed basis. This compares to the previous guidance of comparable store sales growth in the range of flat to 2 percent. Principally due to the revised comparable store sales guidance, diluted earnings per share is now projected to be in the range of $0.04 to $0.07, compared to the previous guidance range of $0.12 to $0.16.
Conference
The Company also announced that management will present at the 2016 ICR Conference on Tuesday, January 12, 2016 at 8:30 a.m. Eastern Time. A live broadcast of the presentation may be accessed at http://investor.gordmans.com/events.cfm. Interested parties are advised to log on to the live webcast at least fifteen minutes prior to the presentation in order to download the necessary software.
About Gordmans Stores, Inc.
Gordmans (NASDAQ: GMAN) is an everyday value priced department store featuring a large selection of name brands and the latest fashions and styles at up to 60 percent off department and specialty store prices. The wide range of merchandise includes apparel and footwear for men, women and children, as well as accessories, home décor, gifts, designer fragrances, fashion jewelry, bedding and bath, accent furniture and toys. Founded in 1915, Gordmans guests can shop in any of our 102 stores in 22 states or at gordmans.com. For more information about Gordmans, please visit www.gordmans.com.
Safe Harbor Statement
Certain statements in this release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as guidance, expects, intends, projects, plans, believes, estimates, targets, anticipates, and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding expected net sales, net income < loss >, comparable store sales, diluted earnings < loss > per share, and store expansion, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to
predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are (1) changes in consumer spending and general economic conditions; (2) our ability to identify and respond to new and changing fashion trends, guest preferences and other related factors; (3) fluctuations in our sales and profitability on a seasonal basis; (4) intense competition from other retailers; (5) our ability to maintain or improve levels of comparable store sales; (6) our ability to attract and retain talent and (7) our successful implementation of advertising, marketing and promotional strategies.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including other risks, relevant factors and uncertainties identified in the Risk Factors section of the Companys Annual Report on Form 10-K for the fiscal year ended January 31, 2015, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Company Contact:
James Brown
Chief Financial Officer
(402) 691-4126
Investor Relations:
ICR, Inc.
Brendon Frey
(203) 682-8200