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Finlay Specialty stores contributes sales of $223.9 mn in 2007
07 Feb '08
2 min read
Finlay Enterprises Inc, a leading retailer of fine jewelry operating luxury stand- alone specialty jewelry stores and licensed fine jewelry departments in department stores throughout the United States, announced its fourth quarter and full year sales results for the fiscal year ended February 2, 2008.
The sales for the fourth quarter of 2006 include an extra week resulting in a fifty-three week fiscal year. Comparable store sales calculations do not include this additional week.
Fourth Quarter:
Sales for the fourth quarter increased 24.1% to $383.4 million compared to $309.0 million in the comparable period of 2006. The sales results are on a continuing operations basis, which excludes sales from discontinued Macy's, Belk's and Parisian stores.
Specialty jewelry stores consisting of Carlyle, Congress, and Bailey Banks & Biddle, which was acquired in November 2007, contributed sales of $146.1 million for the fourth quarter, as compared to $51.6 million for the same period last year. Comparable store sales (stores open for the same months during the comparable period) for the fourth quarter decreased 6.4% on a continuing operations basis.
Fiscal 2007:
On a continuing operations basis, fiscal 2007 sales increased 13.1% to $836.2 million compared to $739.0 in fiscal 2006. Specialty jewelry stores contributed sales of $223.9 million in 2007 as compared to $108.1 million in 2006. Comparable store sales in 2007 decreased 1.4% on a continuing operations basis. Including discontinued stores, comparable store sales in 2007 decreased 1.0%.
The Company currently expects to report full financial results on March 20, 2008.
The sales for the fourth quarter of 2006 include an extra week resulting in a fifty-three week fiscal year. Comparable store sales calculations do not include this additional week.
Fourth Quarter:
Sales for the fourth quarter increased 24.1% to $383.4 million compared to $309.0 million in the comparable period of 2006. The sales results are on a continuing operations basis, which excludes sales from discontinued Macy's, Belk's and Parisian stores.
Specialty jewelry stores consisting of Carlyle, Congress, and Bailey Banks & Biddle, which was acquired in November 2007, contributed sales of $146.1 million for the fourth quarter, as compared to $51.6 million for the same period last year. Comparable store sales (stores open for the same months during the comparable period) for the fourth quarter decreased 6.4% on a continuing operations basis.
Fiscal 2007:
On a continuing operations basis, fiscal 2007 sales increased 13.1% to $836.2 million compared to $739.0 in fiscal 2006. Specialty jewelry stores contributed sales of $223.9 million in 2007 as compared to $108.1 million in 2006. Comparable store sales in 2007 decreased 1.4% on a continuing operations basis. Including discontinued stores, comparable store sales in 2007 decreased 1.0%.
The Company currently expects to report full financial results on March 20, 2008.
Finlay Enterprises Inc
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