August 19, 2009 / 8:56 PM / 9 years ago

UPDATE 1-Gymboree Q2 profit tops Street view

* Sales up 5 pct to $215.4 mln

* Sees low-single-digit fall in Q3 comps

* Sees Q3 EPS $0.95 to $1.03

Aug 19 (Reuters) - Children’s clothing retailer Gymboree Corp GYMB.O posted a better-than-expected quarterly profit, helped by promotions and lower costs.

For the third quarter, the company backed its earlier view of a profit of 95 cents to $1.03 a share. Analysts are expecting the company to earn $1.05 a share, before items, according to Reuters Estimates.

For the second quarter, the retailer, which caters to newborns to 12-year-olds, earned $12.2 million, or 41 cents a share, compared with $8.0 million, or 27 cents a share, in the same period last year.

Sales rose 5 percent to $215.4 million.

Analysts on average were looking for a second-quarter profit of 39 cents, before items, on revenue of $212.2 million.

Gymboree, whose rivals include Children’s Place (PLCE.O) and Talbots Inc TLB.N Gap Inc (GPS.N), said it expects a low-single-digit fall in comparable sales for the third quarter.

Shares of San Francisco-based Gymboree closed at $40.10 Wednesday on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Maju Samuel)

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