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Gottschalks announces decrease in June sales
11
Jul '08
Gottschalks Inc announced that same store sales for the month of June decreased 9.5% from the prior year. Total sales for the five-week period decreased 9.8% to $51.9 million compared to $57.5 million in the same period of fiscal 2007.

On a year-to-date basis, which consisted of 22 weeks, same store sales decreased 10.1% from the same period of the prior year.

Total sales for the year-to-date period decreased 10.7% to $219.5 million compared to $245.7 million for the same period of fiscal 2007.

The Company operated one less store for the month and year-to-date periods compared to the same periods in fiscal 2007.

Jim Famalette, chairman and chief executive officer of Gottschalks said, "We continue to take a conservative approach to managing our business in this challenging consumer environment.

In doing so, we remain committed to carefully controlling our inventory and as a result we ended the month with comparable store inventory down 8% versus the same period last year.

Our best performing categories for the month were accessories, cosmetics, and special sizes, while textiles, tabletops and luggage were the most challenging."

In connection with the Company's Value Improvement Program and as part of its strategic effort to close underperforming stores, the Company closed its Moreno Valley, California store at the end of June.

Gottschalks Inc


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