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Harold's internet & catalog sales up in Q2

05
Aug '05
A chain of upscale ladies' and men's specialty apparel stores, Harold's Stores Inc announced sales results for the second quarter and year-to-date periods ended July 30, 2005.

Net sales for the quarter were $20.3 million, compared to $19.3 million for the same period in the previous year, an increase of 5.2 percent. For the quarter, total Company comparable store sales were flat. Comparable store sales decreased 1.2 percent in the full-line retail stores during the quarter, while comparable store sales in the outlets increased 33.6 percent.

The Company's direct sales (internet and catalog) were $670,000 during the quarter, a five-fold increase from $134,000 last year. Additionally, the Company conducted a warehouse sale in July this year that was not held last year, resulting in $475,000 of additional sales.

Net sales for the year-to-date period were $44.3 million as compared to $43.5 million for the same period in the prior year, an increase of 1.9 percent. For the year-to-date period, total comparable store sales were flat, with a decrease of 0.4 percent in the full-line retail stores and an increase of 10.6 percent in the outlet stores. The Company's direct sales (internet and catalog) were $1.6 million for the year-to-date, quadruple the year ago levels of $432,000.

"They are pleased that sales were up over 5 percent for the quarter and that their direct channel of business continues to improve, now reaching the level of performing on par with some of their best performing stores," said Leonard Snyder, Interim Chief Executive Officer.


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