Ladies apparel specialty chain Nov sales up 3.6%

26 Dec '07

3 min read

Sales for the nine months ended November 3, 2007 increased 3.6% to $788,102,000 as compared with $760,399,000 for the nine months ended October 28, 2006. The increase in sales is attributed to the net addition of 33 stores year over year. Same store sales for the comparable 39 weeks decreased 1.9%.

Operating earnings before depreciation and amortization increased 1.5% to $147,051,000 as compared with $144,891,000 last year. Net earnings and diluted EPS increased to $77,855,000 or $1.08 per share as compared with $59,512,000 or $0.83 per share last year.

Excluding the impact of the retroactive Québec income tax assessments and interest of $1,392,000 for the current year and $19,578,000 for last year, net earnings and diluted EPS for the nine months ended November 3, 2007 would have amounted to $79,247,000 or $1.11 per share as compared to $79,090,000 or $1.11 per share last year. The Company had 952 stores in operation at the end of this period compared to 919 stores at the same time last year.

Sales for the third quarter ended November 3, 2007 increased 2.7% to $265,465,000 as compared with $258,602,000 for the third quarter ended October 28, 2006. Same store sales for the comparable 13 weeks decreased 3.2%. Operating earnings before depreciation and amortization for the period increased 18.4% to $52,360,000 as compared with $44,219,000 last year.

Net earnings and diluted EPS increased to $27,394,000 or $0.38 per share as compared to $23,390,000 or $0.33 per share for the period last year. Excluding the impact of the retroactive Québec income tax assessments and interest of $475,000 for the current year and $433,000 for last year, net earnings and diluted EPS for the three months ended November 3, 2007 would have amounted to $27,869,000 or $0.39 per share as compared to $23,823,000 or $0.33 per share last year.

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