The company reported this morning that net income rose to
Total revenue declined to
The retailer of make-your-own stuffed bears is in the midst of a multiyear turnaround strategy that has included closing underperforming stores, reducing discounts last year by 30 percent, and boosting marketing efforts.
For the 52 weeks of fiscal year 2013, the retailer narrowed its loss to
During the fiscal year, the retailer closed 37 stores and opened nine locations to end the year with 323 company-owned stores, including 263 in
As for first-quarter sales thus far, John noted that January had been a strong month as many customers redeemed gift cards from the holidays. But she said the first two weeks of February have been difficult and reminded investors that Easter would land in the second quarter this year.
But she said the company is excited about new products such as Disney Palace Pets, a line of stuffed pets of Disney princesses that the retailer recently launched.
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