Home / Knowledge / News / Fashion / New Hart stores perform well in Q1
New Hart stores perform well in Q1
13
Jun '08
Hart Stores Inc, an operator of mid-sized department stores announced its financial results for the First Quarter ending May 3, 2008.

For the 13 week period ended May 3, 2008, the Company posted sales of $31.1 million compared to $30.1 million last year, an increase of $1.0 million.

It also reported net earnings of $3,000 compared to a net loss of $304,000 for the same period the previous year. Net earnings were $0.00 per share compared to a net loss of $0.02 for the same period in the previous year.

First quarter sales increased with the addition of 4 new stores were partially offset by lower same-store sales. Net earnings for the first quarter this year were the net results of higher sales volume and lower cost of goods, offset by higher freight cost and store expenses following the addition of 4 stores.

Comparable same-store sales were down by 6.2% for the quarter compared to the same period last year. During the quarter, sales were affected by a softening in the retail market due in part to the colder weather experienced this year compared to the previous year.

In commenting on the results Mr. Michael Hart, President and Chief Executive Officer of Hart Stores said, "We are very pleased by the positive performance of our new stores and are continuing our planned expansion with the opening of another location in the month of August as well as other store openings planned for fiscal 2009."

During the first quarter of this year the Company opened four new stores, in Sault Ste.Marie and Simcoe in Ontario, Caraquet in New Brunswick and St.John's in Newfoundland. This will bring the total number of stores in operation to 80.

Mr Harry Hart, executive chairman of Hart Stores announced, "The Board of directors is pleased to declare a dividend of $0.10 per share, payable July 10, 2008 to shareholders of record on June 20, 2008."

Hart Stores Inc


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.0%
No
13.0%
Skip
17.0%

Total Votes: 100

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.0%
No
30.0%
Skip
7.0%

Total Votes: 100

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.0%
No
9.0%
Skip
3.0%

Total Votes: 100

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.0%
No
8.0%
Skip
9.0%

Total Votes: 100


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search