Bombay Company presents results, says brand repos to pay in future

18 Aug '05

5 min read

Home accessories marketer The Bombay Company Inc reported revenue for the three months ended July 30, 2005 increased 5 percent to $128.0 million compared to $122.5 million for the three months ended July 31, 2004. For the six-month period, revenue increased 2 percent to $250.2 million compared to $246.1 million for the corresponding period of the prior year. Same store sales for Bombay stores in existence for more than one year increased 1 percent for the quarter and declined 2 percent for the year-to-date period.

Net loss for the second quarter was $9.4 million or $0.26 per share compared to a net loss of $6.3 million or $0.18 per share for the corresponding period of the prior year. For the six months ended July 30, 2005, the net loss was $17.4 million or $0.48 per share compared to a net loss of $12.1 million or $0.34 per share for the six months ended July 31, 2004.

James D. Carreker, Chairman and Chief Executive Officer, stated, "This quarter began the transition to Bombay's new in-store merchandise presentation and exciting upgrade in the assortment for fall. While the transition costs were higher than anticipated, they believe that the investment was critical to repositioning brand for the future. They must differentiate them from the competition and capitalize on the rich history of company brand that stands for classic and timeless home furnishings. Their focus is on upgrading the style and quality of product and creating inspirational presentationsto customers in stores. They are pleased with the initial customer reaction and are cautiously optimistic about the remainder of the year.

More Bombay Company Inc News... More Textiles News - United States Of America...