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Sales of lifestyle items perk up at Tween Brands
08 Jan '08
2 min read
Tween Brands Inc announced record sales for the nine-week period ended January 5, 2008. Total sales increased 21% over the same period last year to $264.6 million. Total sales through Limited Too stores rose 5%, while total sales at Justice leaped 87%.
Comparable store sales for the nine-week period rose 4% at Limited Too and 31% at Justice, for a consolidated comparable store increase of 9% versus 4% during the same period last year. Revenue from all other sources nearly doubled, including a 134% increase in e-commerce sales.
“Our sales for November and December exceeded our expectations,” said Mike Rayden, Tween Brands CEO. “Both Limited Too and Justice delivered increases in comparable store transactions and our disciplined inventory management has made it possible to finish a challenging 2007 in a much cleaner inventory position compared to last year,” said Mr. Rayden.
Mr. Rayden added that sales of lifestyle items, which include such popular items as Webkinz virtual pets, Hannah Montana and Jonas Brothers licensed merchandise and electronics, made a significant contribution to the company's holiday sales success.
“Our brands constantly strive to be the first to market with the hottest fashion for tweens, whether that fashion is in apparel, lifestyle merchandise or whatever is important in our tween's world,” said Mr. Rayden.
Tween Brands plans to release its complete operating results for the fourth quarter and fiscal year 2007 on Wednesday, February 20, 2008, before the opening of trading on the New York Stock Exchange.
Comparable store sales for the nine-week period rose 4% at Limited Too and 31% at Justice, for a consolidated comparable store increase of 9% versus 4% during the same period last year. Revenue from all other sources nearly doubled, including a 134% increase in e-commerce sales.
“Our sales for November and December exceeded our expectations,” said Mike Rayden, Tween Brands CEO. “Both Limited Too and Justice delivered increases in comparable store transactions and our disciplined inventory management has made it possible to finish a challenging 2007 in a much cleaner inventory position compared to last year,” said Mr. Rayden.
Mr. Rayden added that sales of lifestyle items, which include such popular items as Webkinz virtual pets, Hannah Montana and Jonas Brothers licensed merchandise and electronics, made a significant contribution to the company's holiday sales success.
“Our brands constantly strive to be the first to market with the hottest fashion for tweens, whether that fashion is in apparel, lifestyle merchandise or whatever is important in our tween's world,” said Mr. Rayden.
Tween Brands plans to release its complete operating results for the fourth quarter and fiscal year 2007 on Wednesday, February 20, 2008, before the opening of trading on the New York Stock Exchange.
Tween Brands Inc
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