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Finlay Specialty stores contributes sales of $74.8 mn
Aug '08
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 that sales for the second quarter ended August 2, 2008 increased 28.8% to $190.6 million compared to $148.0 million in the comparable period of 2007.

The fiscal year 2007 sales results are on a continuing operations basis, which excludes sales from Parisian stores.

Specialty jewelry stores consisting of Carlyle, Congress, and Bailey Banks & Biddle, which was acquired in November 2007, contributed sales of $74.8 million for the quarter, as compared to $27.0 million for the same period last year.

Comparable store sales (stores open for the same months during the comparable period) for the second quarter decreased 4.8%.

On a continuing operations basis, sales for the six months ended August 2, 2008 increased 27.3% to $395.7 million compared to $310.9 million in the first six months of 2007.

Specialty jewelry stores contributed sales of $152.5 million for the six month period as compared to $54.3 million in 2007. Comparable store sales for the six months decreased 4.6% on a continuing operations basis.

The Company currently expects to report full financial results for the second quarter on August 27, 2008.

Finlay Enterprises Inc

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