Body Central Corp. Announces Review of Strategic Alternatives
April 23 2014 - 4:01PM
Body Central Corp. (Nasdaq:BODY) today announced that it has
retained Houlihan Lokey Capital, Inc. ("Houlihan Lokey") as its
financial advisor and/or placement agent to provide financial
advisory and investment banking services and to assist the Company
in analyzing and considering a wide range of financing,
transactional and strategic alternatives. The Company can give no
assurance that a transaction of any kind will occur. The Company
does not intend to disclose developments regarding the
consideration of financing, transactional and strategic
alternatives unless and until the Company's board of directors has
approved a specific transaction.
About Body Central Corp.
Founded in 1972, Body Central Corp. is a multi-channel,
specialty retailer offering on trend, quality apparel and
accessories at value prices. As of April 23, 2014 the Company
operated 282 specialty apparel stores in 28 states under the Body
Central and Body Shop banners, as well as a direct business
comprised of a Body Central catalog and an e-commerce website at
www.bodycentral.com. The Company targets women in their late teens
to mid-thirties from diverse cultural backgrounds who seek the
latest fashions and a flattering fit. The Company's stores feature
an assortment of tops, dresses, bottoms, jewelry, accessories and
shoes sold primarily under the Company's exclusive Body Central®,
Sexy Stretch® and Lipstick Lingerie® labels.
Safe Harbor Language
Certain statements in this release are "forward-looking
statements" made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Words such as
"guidance," "expects," "intends," "projects," "plans," "believes,"
"estimates," "targets," "anticipates," and similar expressions are
used to identify these forward-looking statements. Forward-looking
statements are based on our current expectations and assumptions,
which may not prove to be accurate. These statements are not
guarantees and are subject to risks, uncertainties and changes in
circumstances that are difficult to predict. Many factors could
cause actual results to differ materially and adversely from these
forward-looking statements. Among these factors are (1)
expectations regarding our ability to continue as a going concern;
(2) our ability to generate sufficient cash flows to support
operations; (3) our ability to identify and respond to changing
fashion trends, customer preferences and other related factors; (4)
the dislocation of customers that may occur as a result of
strategic changes to marketing or merchandise selections; (5) our
ability to successfully execute marketing initiatives to drive core
customers into our stores and to our website; (6) our ability to
execute successfully our growth strategy; (7) changes in consumer
spending and general economic conditions; (8) changes in Federal
and state tax policy on our customers; (9) changes in the
competitive environment in our industry and the markets we serve,
including increased competition from other retailers; (10) our
stores achieving sales and operating levels consistent with our
expectations; (11) our ability to successfully execute our direct
business segment initiatives (12) our dependence on a strong brand
image; (13) the ability of our information technology systems to
support our business; (14) our ability to successfully integrate
new information technology systems to support our business; (15)
our dependence upon key executive management or our inability to
hire or retain additional personnel; (16) disruptions in our supply
chain and distribution facility; (17) disruptions in our operations
due to the transition to our new distribution center and corporate
office; (18) our reliance upon independent third-party
transportation providers for all of our product shipments; (19)
hurricanes, natural disasters, unusually adverse weather
conditions, boycotts and unanticipated events; (20) the seasonality
of our business; (21) increases in costs of fuel, or other energy,
transportation or utilities costs and in the costs of labor and
employment; (22) the impact of governmental laws and regulations
and the outcomes of legal proceedings; (23) restrictions imposed by
lease obligations on our current and future operations; (24) our
maintaining effective internal controls; (25) our ability to
protect our trademarks or other intellectual property rights; and
(26) the risks and uncertainties of whether any strategic
alternatives will be identified, pursued or consummated by us or
will enhance value for our stockholders.
CONTACT: Tom Stoltz
Chief Operating Officer and Chief Financial Officer
904-207-6720
tstoltz@bodyc.com