News Flash

Le Château retail sales up 25.8% for first five weeks ended June 4

11 Jun '05

2 min read

Canadian Clothing retailer Le Château Inc reported that sales increased 19.6% to $60,601,000 for the first quarter ended April 30, 2005, compared with sales of $50,677,000 for the first quarter ended May 1st, 2004 last year.

Comparable store sales increased by 16.9% in the first quarter of 2005 compared with the same period a year ago.

Net earnings for the first quarter increased 112% to $4,638,000 or $0.79 per share from $2,188,000 or $0.42 per share last year.

Net earnings attributable to Canadian operations amounted to $4,739,000 or $0.81 per share for the first quarter, compared to $2,281,000 or $0.44 per share the previous year. The U.S. reported a net loss $101,000 Cdn or $(0.02) Cdn per share for period, compared to a net loss of $93,000 Cdn or $(0.02) Cdn per share for the same period a year ago.

Emilia Di Raddo, President of Le Château, commented, "Our strategies, targeted towards broadening our appeal and attracting fashion customers of all ages, continue to prove successful. They remain focused on the initiatives of broadening our selection of products to reflect seven-days-a-week dressing, offering better quality products, and optimizing the product mix in each store.

They continue to upgrade our stores reflecting design elements that are not age-sensitive and that are less likely to become dated. Canadians across the country are responding well to these strategies and we believe there is considerable opportunity for further growth in all areas of the business as our customer base continues to expand."

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