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Gottschalks reports august 2007 sales
17 Sep '07
2 min read
Gottschalks Inc announced that same store sales for the month of August 2007 decreased 7.8% from the prior year. Total sales for the month decreased 9.6% to $42.9 million from $47.4 million in August 2006. On a year-to-date basis, same store sales decreased 3.1% from the same period of the prior year.
Total sales for the year-to-date period decreased 4.3% to $329.6 million compared to $344.4 million for the same period of fiscal 2006. The Company operated three fewer stores for the month and five fewer stores for the year-to-date period compared to the same periods of fiscal 2006.
Jim Famalette, chairman and chief executive officer of Gottschalks said, "Our comparable store sales results for the month were significantly impacted by the shift of a major cosmetics event from August into October. In addition, we experienced generally softer than expected sales in our home store merchandise and certain soft line categories, particularly in our stores in California."
"Our best performing merchandise categories included juniors, young men's, swimwear and dresses. Despite softer than expected sales overall, we were pleased with the positive trends in juniors and young men's as we experienced a good back to school season. We ended the month with comparable store inventory 0.3% below last year.”
Value Improvement Program:
As recently announced, the Company has launched a Value Improvement Program (V.I.P) which encompasses a series of new aggressive initiatives being implemented to increase sales, improve the Company's operating performance, maximize shareholder value and position Gottschalks for long-term growth.
Total sales for the year-to-date period decreased 4.3% to $329.6 million compared to $344.4 million for the same period of fiscal 2006. The Company operated three fewer stores for the month and five fewer stores for the year-to-date period compared to the same periods of fiscal 2006.
Jim Famalette, chairman and chief executive officer of Gottschalks said, "Our comparable store sales results for the month were significantly impacted by the shift of a major cosmetics event from August into October. In addition, we experienced generally softer than expected sales in our home store merchandise and certain soft line categories, particularly in our stores in California."
"Our best performing merchandise categories included juniors, young men's, swimwear and dresses. Despite softer than expected sales overall, we were pleased with the positive trends in juniors and young men's as we experienced a good back to school season. We ended the month with comparable store inventory 0.3% below last year.”
Value Improvement Program:
As recently announced, the Company has launched a Value Improvement Program (V.I.P) which encompasses a series of new aggressive initiatives being implemented to increase sales, improve the Company's operating performance, maximize shareholder value and position Gottschalks for long-term growth.
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