Decline in mall popularity negatively impacting Jacksonville retailer

[thelakelander]

Things aren't looking good for Body Central....

Body Central stock plummets as analyst doubts turnaround capability

Body Central Corp.'s financial woes continue to mount, causing one analyst to doubt that the Jacksonville-based retailer can really pull off a turnaround.

Body Central reported Tuesday that it lost $23 million in the fourth quarter of 2013, for a total loss of $42.3 million for the fiscal year. The company has secured a $17 million credit facility, but without a rebound in sales over the next six to nine months, it may not be enough to save the company.

The company's stock plummeted more than 30 percent after the report and hovered around $1.06 per share just after 1:30 p.m. Body Central is facing concurrent crises: An internal one of liquidity, and declining mall traffic in the face of intense competition from other retailers in the fast-fashion and teen apparel categories.

full article: http://www.bizjournals.com/jacksonville/news/2014/03/26/body-central-stock-plummets-as-analyst-doubts.html

[mtraininjax]

Watch Stein Mart buy them for pennies.

[CityLife]

Body Central's problems are more than just mall related. I've heard from someone that used to work at corporate  that it is a horribly run company. Probably too late for the new guy to turn it around.

[JayBird]

It's never been a good company, their founder has had to pump money into the company by buying new stock off and on for the last decade. The sad part is, COJ gave them incentives for remaining in Jax last year, now they most likely won't be here much longer.

[edjax]

^^per story on news last night per Crescembeni those incentives had specific standards set and they have not met them and therefore no incentives actually paid to date.

[JayBird]

^^per story on news last night per Crescembeni those incentives had specific standards set and they have not met them and therefore no incentives actually paid to date.

Oh okay Well in that case, let their business plan float or sink. I don't think losing a company that markets "club wear" will be that detrimental to Jax.

[JaxNole]

Body Central's problems are more than just mall related. I've heard from someone that used to work at corporate  that it is a horribly run company. Probably too late for the new guy to turn it around.

I didn't work there, but I interviewed twice about 2 years ago. The first interview was a disaster, with the interviewer relying on an archaic script that had nothing to do with IT. The second interview was even worse, when I was asked at the beginning of the interview, "Would you accept a salary 20 percent less than we told you?" At that point, I thanked the interviewer for the time and walked out. No surprise they're close to the point of no return.

[thelakelander]

Evidently Body Central is currently lighting $3 million a month on fire...

Clock is ticking for Body Central as it burns millions, deals with higher interest rates

Body Central Corp.'s days may be numbered if the company continues to burn millions of dollars each month.

The Jacksonville-based retailer's total net working capital at the end of the fiscal year was $24 million, which included $16.5 million in cash, the company said in a Securities and Exchange filing Thursday. Analysts estimate that the company burns upwards of $3 million per month, and forecast that to continue at least into the second quarter.

By comparison, at the end of fiscal 2012, the company's total net working capital was $44.3 million, which included $41.1 million in cash.

full article: http://www.bizjournals.com/jacksonville/news/2014/03/28/body-centrals-viability-under-time-cruch-as.html