Total sales for the 39 weeks ended October 29, 2005 were $1.77 billion compared with $1.72 billion in the prior year's comparable period, an increase of $46.0 million, or 2.7 percent.
Comparable store sales for the 39 weeks ended October 29, 2005 increased 1.0 percent.
The Company opened five stores during the third quarter to arrive at a total number of stores in operation as of October 29, 2005 of 397 stores in 45 states.
Doug Morton, Chief Executive Officer commented, "Their ability to exceed earnings expectations for the third quarter was driven by significant improvements in merchandise gross margins along with well controlled expenses.
Their top-line benefited from strong sales of active apparel, fitness, golf, ski apparel, and team sports.
They are also pleased with their progress in reducing merchandise inventories and long-term debt."
Mr. Morton concluded, "They continue to focus on the initiatives they implemented during the year including: re-branding the store base in several major markets, implementing new merchandising and supply chain initiatives, enhancing their marketing and advertising, reducing one-time promotional events and continuing their remodel program.
As they enter the important holiday season, they remain committed to successfully executing their business plan and driving increased shareholder value."
For the fourth quarter of fiscal 2005, the Company is forecasting comparable store sales of 1 percent to 2 percent and total sales of $730.0 to $740.0 million.
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