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Off-price retailer Retail Ventures Q3 sales rise $46.4 mn in Q3

Dec '05
Retail Ventures Inc
Off-price retailer Retail Ventures Inc announced its consolidated financial results for the third quarter ended October 29, 2005.

- Net sales for the thirteen-week period ended October 29, 2005 increased 6.6 percent to $746.1 million from $699.7 million for the quarter ended October 30, 2004, a $46.4 million increase over the prior year's thirteen-week period.

The Company's comparable store sales for the thirteen- week period increased 1.0 percent when compared to the same period last year.

- The net income for the quarter was $54.2 million, or $0.88 per share on a diluted basis, compared to a net loss of $1.3 million, or $0.04 per share on a diluted basis last year.

Included in net income for the quarter was $64.8 million non-cash income representing the change in fair value of warrants.

Retail Ventures Inc is a leading off-price retailer currently operating 114 Value City Department Stores in the Midwest, mid-Atlantic and southeastern US, 27 Filene's Basement stores in the Northeast and 198 better-branded DSW stores in major metropolitan areas throughout the country.

DSW also supplies, under supply arrangements, to 213 locations for other non-related retailers in the United States.

Retail Ventures Inc

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