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Harold's Stores sales slide 5% in Q2

03
Aug '06
Harold's Stores Inc, a chain of upscale ladies' and men's specialty apparel stores, announced sales results for the second quarter and year-to-date periods ended July 29, 2006.

For the quarter, overall sales were $19.3 million, compared to $20.3 million for the same period in the previous year, a decrease of 5.0%. Total comparable store sales were down 9.4%, 9.2% in the full-line stores and 13.3% in the outlets. Direct sales (internet and catalog) were $1.2 million, nearly double last year's level of $670,000.

For the year-to-date, overall sales were $40.4 million, compared to $44.3 million for the same period in the prior year, a decrease of 8.8%. Total comparable store sales were down 13.3%, 13.6% in the full-line stores and 8.3% in the outlets. Direct sales (internet and catalog) were $2.4 million, up 47% from the year ago level of $1.6 million.

"During the second quarter, response to our spring and summer merchandise was below our expectations," said Leonard Snyder, Interim Chief Executive Officer.

Founded in 1948 and headquartered in Dallas, Texas, Harold's Stores Inc, currently operates 42 upscale ladies' and men's specialty stores in 19 states. The company's Houston locations are known as 'Harold Powell.'

Harold's Stores Inc


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