As a result, they were not able to achieve company gross profit plan and could not leverage the selling, general and administrative expense rate. They have taken corrective action in each of these areas and remain optimistic that fiscal 2005 will be profitable.
It also indicated that inventory levels on a per-square-foot basis were lower at the end of the second quarter this year compared with the same period last year.
For the fiscal year to date, the Company has opened 18 new stores and relocated or remodeled five stores. For the balance of the fiscal year, the Company expects to open approximately 11 additional new stores and relocate or remodel up to five existing stores.
Tennessee based Goody's Family Clothing Inc is a retailer of moderately priced family apparel. The Company currently operates 371 stores (368 at July 30, 2005, compared with 345 July 31, 2004) in the 20 states of Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia.
Goody's Family Clothing Inc
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