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Big Dog Holdings Q1 sales jumps 23%
02 May '06
3 min read
Big Dog Holdings Inc, a developer and retailer of branded, lifestyle consumer products, has reported the financial results for the first quarter ended March 31st 2006.
For the quarter ended March 31st 2006, consolidated net sales were $38,671,000, a 23 percent increase, as compared with $31,345,000 in the first quarter 2005. It increased primarily due to the addition of 63 new Walking Company stores which includes 45 Steve Shoes stores, an acquisition that closed in January this quarter.
The company had a total of 304 stores opened (167 Big Dog stores and 137 TWC stores) at the end of the period, as compared with 254 stores opened on March 31st 2005 (180 Big Dog stores and 74 TWC stores).
Comparable retail store sales increased .8 percent for the quarter (7.8 percent increase for TWC chain and 7.4 percent decline for the Big Dog chain). Total consolidated gross profit for the quarter increased to 52.0 percent of net sales or $20,097,000 as compared with 51.8 percent of net sales or $16,227,000 in the first quarter 2005.
Consolidated operating expenses in the first quarter 2006 were $24,886,000 or 64.4 percent of sales compared to $20,010,000 or 63.8 percent in 2005. The percentage increase in consolidated operating expenses primarily relates to Big Dogs' smaller revenue base, increase in depreciation and amortization and the Steve's Shoes acquisition.
Consolidated operating loss for the first quarter 2006 was $4,789,000 compared to $3,783,000 for the first quarter 2005. The consolidated net loss per share for the first quarter 2006 increased to $.35 per share, as compared with a consolidated net loss of $.26 per share for the first quarter 2005.
For the quarter ended March 31st 2006, consolidated net sales were $38,671,000, a 23 percent increase, as compared with $31,345,000 in the first quarter 2005. It increased primarily due to the addition of 63 new Walking Company stores which includes 45 Steve Shoes stores, an acquisition that closed in January this quarter.
The company had a total of 304 stores opened (167 Big Dog stores and 137 TWC stores) at the end of the period, as compared with 254 stores opened on March 31st 2005 (180 Big Dog stores and 74 TWC stores).
Comparable retail store sales increased .8 percent for the quarter (7.8 percent increase for TWC chain and 7.4 percent decline for the Big Dog chain). Total consolidated gross profit for the quarter increased to 52.0 percent of net sales or $20,097,000 as compared with 51.8 percent of net sales or $16,227,000 in the first quarter 2005.
Consolidated operating expenses in the first quarter 2006 were $24,886,000 or 64.4 percent of sales compared to $20,010,000 or 63.8 percent in 2005. The percentage increase in consolidated operating expenses primarily relates to Big Dogs' smaller revenue base, increase in depreciation and amortization and the Steve's Shoes acquisition.
Consolidated operating loss for the first quarter 2006 was $4,789,000 compared to $3,783,000 for the first quarter 2005. The consolidated net loss per share for the first quarter 2006 increased to $.35 per share, as compared with a consolidated net loss of $.26 per share for the first quarter 2005.
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