Home / Knowledge / News / Fashion / Goody's Family Clothing expects Q3 losses

Goody's Family Clothing expects Q3 losses

07
Oct '05
Tennessee based clothing retailer Goody's Family Clothing Inc reported total sales of $93.5 million for the fiscal month of September 2005 (the five weeks ended October 1, 2005), a decrease of 0.8 percent from total sales of $94.3 million for the fiscal month of September 2004 (the five weeks ended October 2, 2004). Comparable store sales for September 2005 declined 5.5 percent compared with September 2004.

Total sales for the first eight months of fiscal 2005 decreased 1.2 percent to $776.6 million from $785.9 million during the same period last year. Comparable store sales for the first eight months of fiscal 2005 declined 6.3 percent from the same period last year.

"Sales for the month of September 2005 were negatively affected by hurricanes Katrina, Ophelia and Rita, as well as by unseasonably warm weather, which prevailed in markets," commented Robert M. Goodfriend, Chairman and Chief Executive Officer. "These factors forced us to be more promotional than planned during the month in an effort to stimulate sales and reduce seasonal inventories. As a result, we expect to report a net loss for the third quarter of 2005, which is significantly greater than the net loss of $0.02 per diluted share reported for the third quarter of 2004.

"Currently, there are six Goody's stores that remain closed as a result of the hurricanes," Goodfriend added. "One of these stores, located in Lake Charles, Louisiana, sustained limited damage and is currently closed due to a prolonged power outage. The Company expects this store to reopen in October 2005. Stores in Hammond and Houma, Louisiana; and Hattiesburg and Gulfport, Mississippi; are currently expected to reopen in November 2005. A store in West Orange, Texas, is expected to reopen in March 2006."


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: Shutterstock

Textiles | On 27th Feb 2020

ADD removal on PTA respite to man-made textiles: Ind-Ra

The withdrawal of anti-dumping duty (ADD) on purified terephthalic...

Interviews View All

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Cem Erdogrul,

Cem Erdogrul

Turkey-based Temsan Air Engineering is one of the leading manufacturers of ...

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search