READ MOREFourth quarter 2018:
The company now anticipates fourth quarter revenues of $211 to $214 million; prior guidance was $195 to $205 million. Revenues were $199.1 million in the fourth quarter of 2017.
The company continues to expect gross margin to increase by 80 to 100 basis points over 45.4% in the fourth quarter of 2017.
The company now expects SG&A to be approximately 54% of revenues compared to 60.6% of revenues in the fourth quarter of 2017.
Full year 2018:
The company now anticipates 2018 revenues to grow approximately 6%. This compares to our prior guidance predicting revenue growth of 4 to 5% over 2017 revenues of $1,023.5 million.
The company continues to expect gross margin to increase approximately 100 basis points over the 50.5% rate in 2017.
The company now expects SG&A to be approximately 46% of revenues compared to 48.8% of revenues in 2017.
The company now expects income from operations to be over $60 million, up from our prior guidance of slightly under $60 million, and $17.3 million in 2017.
With respect to 2019 revenues, the company continues to expect a mid-single digit increase over 2018 revenues.
The company anticipate that e-commerce and wholesale growth will more than offset lower retail revenues associated with our reduced store count, which we expect to reduce revenues by approximately $25 million. Adding back that $25 million reduction, we would expect 2019 revenues to be up mid to high single digits over our anticipated 2018 revenues. ■