Gordmans Q1 net income rises 10%, to open five stores in 2012

Omaha, Neb. -- Midwestern discount department store retailer Gordman’s Stores said Friday that profit for the quarter ended April 28 rose 10.6% to $8.1 million, compared with $7.3 million in the year-ago period.

Sales rose 13.8% to $133.9 million, from $117.7 million. Same-store sales climbed 4.7%.

“We are pleased with our overall performance and remain confident in our ability to realize our sales and profit guidance for fiscal 2012," said Jeff Gordman, president and CEO.

The retailer opened four stores and entered three new markets – Salt Lake City and Ogden, Utah, and Boise, Idaho – during the quarter. It said it is on track to open five additional locations over the remainder of the year.

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