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Shoe Pavilion says Q4 profit rises, same-store sales up

24
Feb '06
Off-price branded footwear retailer Shoe Pavilion Inc has announced preliminary unaudited results for its fourth quarter 2005, which ended December 31st 2005.

The company reported preliminary unaudited net income of $1.3 million, or $0.17 cents per diluted share, for the fourth quarter ended December 31st 2005 compared to net income of $1.0 million or $0.14 cents per diluted share, for the fourth quarter ended in January 1st 2005.

For all of fiscal 2005, the company reported preliminary unaudited net income of $2.7 million or $0.36 cents per diluted share compared to $2.1 million or $0.30 cents per diluted share for the same period last year.

Same-store net sales increased 5.5 percent for the fourth quarter ending December 31st 2005 as compared to the same period last year. Net sales for the fourth quarter ended December 31st 2005 increased 18.9 percent or $29.5 million from $24.8 million for the same period last year.

Same-store net sales for the twelve months ended December 31st 2005 increased 6.9 percent from the same period last year. Net sales for the twelve months ended December 31st 2005 increased 19.5 percent or $102.5 million from $85.8 million for the same period last year.

Gross profit for the full year of 2005 was $36.0 million or 35.1 percent of net sales compared to $29.9 million or 34.9 percent for the prior year. Selling, general and administrative expense for the full year of 2005 was $31.1 million or 30.4 percent of net sales compared to $26.2 million or 30.5 percent of net sales for the prior year.


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