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Specialty retailer Gottschalks Inc releases Oct results

05
Nov '05
Fresno, California, based regional department & specialty store chain Gottschalks Inc announced that same store sales for the month of October 2005 decreased 1.4 percent from the prior year. Total sales for the month increased 0.4 percent to $44.0 million from $43.8 million in October 2004. For the third fiscal quarter of 2005, same store sales decreased 0.5 percent, and total sales increased 2.3 percent to $151.3 million, compared to $147.9 million for the third fiscal quarter of 2004.

On a year-to-date basis, same store sales increased 0.6 percent from the comparable period of fiscal 2004. Total sales on a year-to-date basis increased 1.6 percent to $447.1 million compared to $440.2 million in the same period of the prior year.

Jim Famalette, President and Chief Executive Officer of Gottschalks, said, 'Their comparable store sales for October were lower than expected, due to reduced sales in their home division. While their furniture and mattress area turned in a solid performance, the changes to their promotions for the home division during the month did not generate the results they had anticipated. However, they continued to experience strength in soft fashion merchandise categories in October.

Their best performing areas were shoes, accessories, special sizes and women's apparel. Comparable store inventory at the end of the quarter was even with last year, and they believe they are in a good position going into the important holiday season.They expect a solid comparable store sales performance in November, and they continue to anticipate achieving same store sales growth of approximately 1 to 2 percent for the full fiscal year in 2005.'


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