Big Dog Holdings' consolidated net sales for Q3 up 5.2%
07 Nov '05
3 min read
Men's, women's and children's activewear & accessories producer Big Dog Holdings Inc reported the financial results for the third quarter ended September 30, 2005.
For the quarter ended September 30, 2005, consolidated net sales were $44,909,000 as compared with $42,695,000 in the third quarter 2004. Consolidated net sales increased 5.2 percent, primarily due to comparative stores sales increase of 4.1 percent (comparative store sales decline of 1.6 percent for Big Dogs and comparative store sales increase of 13.1 percent for TWC), and the net increase in the number of stores opened for the quarter.
The Company had a total of 263 stores opened (176 Big Dog stores and 87 TWC stores) at the end of the period, as compared 261 stores last year (188 Big Dogs stores and 73 TWC stores as of September 30, 2004). Consolidated gross profit increased to $25,286,000 in the third quarter 2005 as compared with $23,433,000 in the third quarter 2004.
The overall increase in consolidated gross profit is the result of increased sales for TWC, as well as increased margin contributions from both Big Dogs and TWC. Big Dogs' gross margin for the period increased to 60.4 percent, as compared to last year's margin of 58.0 percent, and the gross margin for the TWC chain increased to 50.9 percent compared to 49.7 percent last year.
Consolidated operating expenses in the third quarter 2005 were $22,262,000, or 49.6 percent of consolidated net sales, compared to $21,174,000, or 49.6 percent in 2004. Consolidated net income increased to $1,770,000 in 2005 as compared to $1,284,000 for the third quarter 2004. Fully diluted net income per share increased to $.18 per share as compared with $.13 per share last year.
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