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Elegant Illusions declares total revenues for Sept'05, plummets 29%

11
Oct '05
California based jewelry retailer Elegant Illusions Inc announced that total revenues for September 2005 were down approximately 29 percent from total revenues for September 2004. Same store revenues for September 2005 were down 33 percent from September 2004.

Company-wide figures are based on the revenues of 22 stores in 2005 versus revenues of 22 stores in 2004.

"The Company opened a new store on Balboa Island, Newport Beach in March of 2005 and also in Philadelphia in June 2005. The location in Savannah was closed in April 2005, the location in St Thomas in August 2005, because of poor performance," reported CEO James Cardinal. The two locations in New Orleans, LA have been closed for the month of September due to Hurricane Katrina. The loss of sales in Louisiana significantly influenced the revenue percentages above.

Elegant Illusions Inc is engaged primarily in the design and sale of created gem jewelry with 24 specialty stores across the continental United States, Hawaii and Virgin Islands. Elegant Illusions has been profitable since its first quarter, has no long-term debt.

The Company's founders, Tamara and Gavin Gear, first began selling jewelry in 1976 on Cannery Row. Since then, along with CEO James Cardinal who committed to the Company in 1992, the Gears have carved out a substantial niche in the growing, multi-billion dollar jewelry industry.

Elegant Illusions Inc


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