West 49 Inc reports third quarter results

07 Dec '07

3 min read

Within our existing store base, we relocated and expanded three stores to more optimum locations and sizes, meeting our target of completing eight to ten of these projects in fiscal 2008. Finally, and as a result of our new store openings and relocations and expansions, we met our annual target for growing our total square footage by 10 to 12 percent."

"While our stores in Western Canada and the Atlantic Provinces continued to generate strong sales, our financial results for the quarter were dampened by a challenging retail climate in Ontario and the need to clear older merchandise at Off The Wall as we transition the banner to a new merchandising strategy," Mr. Baio continued.

"Additionally, we lowered our average selling price on key items such as footwear to help combat cross border shopping. Nevertheless, we made incremental improvements to our management of expenses, reducing our selling, general and administrative expenses as a rate to net sales by ten basis points for the quarter and thirty basis points for the year-to-date."

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West 49 Inc

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