As of December 1, 2007, total inventory was $46.9 million as compared to $55.4 million on November 25, 2006. Total inventory per store, including in-transit inventory, decreased 22% and was approximately $55,818 this year compared to $71,235 last year.
Financial Outlook: The Company currently anticipates fourth quarter earnings per diluted share to be in the range of $0.02 to $0.05. The Company's updated guidance reflects the expectation for flat to a low single digit decline in same-store sales in the fourth quarter. This compares to fourth quarter of fiscal 2007 earnings per diluted share of $0.05. For the year, the Company estimates earnings per diluted share to be in the range of $0.72 to $0.75, compared to $0.89 per share last year.
In addition, the Company announced that, based on sales to date and its projections for the balance of the month, fiscal December same-store sales are anticipated to decline 1 to 2%.
Ms. Nagler continued, “Thus far, December sales have been adversely impacted by a promotional retail environment, challenging macroeconomic conditions, as well as snow and ice storms in several geographic regions. We are encouraged that we have seen improvement in same-store sales as we progressed through the month.
Nonetheless, our December same-store sales are expected to fall short of our initial expectations. While the women's specialty apparel retail sector remains very promotional, we are pleased that our December merchandise margins to date show strong improvement as compared to last year.
We plan to maintain lean inventory levels and believe we are positioned to generate continued improvement in merchandise margins as we proceed through the fourth quarter.”
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
