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Footwear designer Shoe Pavilion presents Q2 & H1 results for 2005

11
Aug '05
California based footwear designer Shoe Pavilion Inc announced net income of $704,000 or $0.10 per diluted share, for the second quarter ended July 2, 2005 compared to net income of $694,000 or $0.10 per diluted share, for the second quarter of 2004. Net income for the six months ended July 2, 2005 was $1.1 million or $0.16 per diluted share, compared to net income of $1.0 million or $0.15 per diluted share, for the same period in 2004.

As previously announced, comparable store net sales increased 8.2 percent for the second quarter ended July 2, 2005 from the same period last year. Net sales for the second quarter ended July 2, 2005 increased 20.3 percent to $24.9 million from $20.7 million for the same period last year.

Comparable store net sales for the six months ended July 2, 2005 increased 9.5 percent from the same period last year. Net sales for the six months ended July 2, 2005 increased 19.7 percent to $48.2 million from $40.3 million for the same period last year.

Gross profit for the second quarter of 2005 was $8.8 million or 35.4 percent of net sales compared to $7.3 million or 35.4 percent of net sales for the same period last year. Gross profit for the six months ended July 2, 2005 was $16.8 million or 34.9 percent of net sales compared to $14.0 million or 34.7 percent of net sales for the same period last year.

Selling, general and administrative expenses for the second quarter of 2005 were $7.5 million or 30.3 percent of net sales compared to $6.1 million or 29.5 percent of net sales for the same period last year. Selling, general and administrative expenses for the six months ended July 2, 2005 were $14.8 million or 30.6 percent of net sales compared to $12.1 million or 30.0 percent of net sales for the same period last year.


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