Higher Internet sales drive Bombay's direct-to-customer business
17 Nov '06
3 min read
The Bombay Company Inc reported that revenue for the three months ended October 28, 2006 decreased 15.5 percent to $108.2 million compared to $128.1 million for the three months ended October 29, 2005.
Same store sales for Bombay stores operating for more than one year decreased 15.5 percent for the quarter.
Revenue from retail stores declined to $100.2 million from $121.6 million due to the decrease in same store sales and a lower store count.
Bombay's direct- to-customer business, which includes Internet and Mail Order, grew to $7.4 million for the quarter compared to $5.5 million last year, driven primarily by Internet sales.
The loss before income taxes for the quarter ended October 28, 2006 was $16.0 million compared to $6.5 million for the quarter ended October 29, 2005. The results for the 2005 quarter include a pre-tax gain of $4.1 million on the sale of non-operating land and a building.
The net loss for the quarter ended October 28, 2006 was $15.6 million, or $0.43 per share, compared to a net loss of $4.4 million, or $0.12 per share, for the corresponding period of the prior year.
For the nine-month period ended October 28, 2006, revenue decreased 7.9 percent to $348.2 million compared to $378.2 million for the corresponding period of the prior year.
Revenue from retail stores declined to $324.2 million from $354.1 million as a result of a 6.5 percent decline in same store sales and the reduced store count.
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