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Sportswear, accessories, shoes & Jr apparel drive Gottschalks Q2 sales

31
Aug '05
Regional department & specialty store chain based in Fresno, California, Gottschalks Inc reported financial results for the second quarter of fiscal 2005. Net income for the second quarter was $0.3 million, or $0.02 per diluted share, improved from net income of $0.2 million, or $0.02 per diluted share, for the second quarter of fiscal 2004.

In the second quarter, Gottschalks incurred costs of approximately $200,000 for pre-opening expenses related to its new store in Fresno and the settlement of a previously disclosed legal proceeding. Year to date net loss was improved to $1.7 million, or $0.13 per diluted share, from a net loss of $2.0 million, or $0.16 per diluted share in the first six months of fiscal 2004.

As previously reported, same store sales increased 3.1 percent for the second quarter of 2005. Total sales increased 2.6 percent to $151.6 million compared to $147.8 million for the second fiscal quarter last year. Year to date same store sales increased 1.3 percent, while total sales increased 1.2 percent to $295.7 million compared to $292.3 million for the same period of fiscal 2004.

Jim Famalette, President and Chief Executive Officer of Gottschalks, stated, "They are pleased with our continued improved performance in the second quarter, which exceeded bottom line results last year that were the best for a second quarter in more than 15 years.”

The company has made steady progress in our initiative to appeal to a broader customer base through our focus on several important fashion categories such as, better sportswear, accessories, shoes and junior apparel.


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