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Shoe Pavilion announces Q1 2007 results
09 May '07
3 min read
"As a result of our first quarter performance we are taking a more conservative approach to our outlook for 2007. We continue to be very pleased with the performance of our mature stores and overall core operations and we believe we are on the right path to increasing sales and improving returns at our new stores."
During the quarter, we opened one new store in Sparks, Nevada, and relocated two stores into larger premises, those being in Emeryville and Portrero in Northern California. We operated 109 stores as of the March 31, 2007.
Business Outlook:
In the second quarter of 2007, we expect to open three new stores, relocate one existing store into larger premises and close 4 stores. For fiscal 2007, we expect to open 16 to 18 new stores and close 5 to 7 stores.
We anticipate that our comparable store net sales will increase 2% to 3% in the second quarter of 2007, and that comparable store net sales will increase 3% to 4% for the 2007 fiscal year.
We anticipate achieving net sales of $37 million to $39 million in the second quarter of 2007, an increase of 18% to 24% in net sales over the first quarter of 2006. For the 2007 fiscal year, we anticipate achieving net sales of $155.5 million to $160.5 million, an increase of 18% to 22% in net sales over fiscal 2006.
We presently expect that in the second quarter of 2007 we will achieve net income of $50,000 to $150,000, or $0.01 to $0.02 per diluted share and for the 2007 fiscal year, we anticipate that we will incur a net loss of $2 million to $2.5 million or $0.21 to $0.26 per fully diluted share.
During the quarter, we opened one new store in Sparks, Nevada, and relocated two stores into larger premises, those being in Emeryville and Portrero in Northern California. We operated 109 stores as of the March 31, 2007.
Business Outlook:
In the second quarter of 2007, we expect to open three new stores, relocate one existing store into larger premises and close 4 stores. For fiscal 2007, we expect to open 16 to 18 new stores and close 5 to 7 stores.
We anticipate that our comparable store net sales will increase 2% to 3% in the second quarter of 2007, and that comparable store net sales will increase 3% to 4% for the 2007 fiscal year.
We anticipate achieving net sales of $37 million to $39 million in the second quarter of 2007, an increase of 18% to 24% in net sales over the first quarter of 2006. For the 2007 fiscal year, we anticipate achieving net sales of $155.5 million to $160.5 million, an increase of 18% to 22% in net sales over fiscal 2006.
We presently expect that in the second quarter of 2007 we will achieve net income of $50,000 to $150,000, or $0.01 to $0.02 per diluted share and for the 2007 fiscal year, we anticipate that we will incur a net loss of $2 million to $2.5 million or $0.21 to $0.26 per fully diluted share.
Shoe Pavilion Inc
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