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Menswear retailer S&K Famous Brands posts Q3 results
25 Nov '05
2 min read
America's greatest menswear S&K Famous Brands Inc announced results for the nine months and third quarter ended October 29, 2005.
For the nine months ended October 29, 2005 net income increased 30 Percent to $2,409,000, or $0.93 per diluted share, compared to $1,846,000, or $0.69 per diluted share, for the same period last year.
Total sales increased 4.7 Percent to $140.3 million compared to $134.0 million for the first nine months of last year. Same-store sales for the nine months increased 4.7 Percent over last year.
Results for the third quarter were a net loss of ($214,000) or ($0.09) per diluted share compared to net income of $170,000, or $0.06 per diluted share, in the same period last year. Total sales were $42.0 million compared to $42.6 million in the same quarter of last year. Same-store sales for the third quarter decreased (1.1) Percent.
Stewart M. Kasen, President and Chief Executive Officer, said, “Company was disappointed with results for this quarter, but historically, the third quarter represents approximately three percent of the full year's earnings.”
For the first nine months, the Company's net income is up 30 Percent on 4.7 Percent higher sales. “The Company recently completed its new store expansion for 2005. During the year the Company opened six new stores in Indiana, Kentucky and North Carolina.
Also, five stores were relocated in Arkansas, Michigan, North Carolina, Pennsylvania and Virginia. The Company has closed six stores, which had not met the Company's sales and profitability expectations in Alabama, Michigan, North Carolina, Ohio, Tennessee and Texas.
S&K Famous Brands Inc is a retailer of value-priced menswear operating 236 stores in 27 states reaching from the East Coast to Texas and from Maine to Florida. S&K offers a complete line of men's apparel generally priced 20-40 Percent below department store and specialty store regular prices.
For the nine months ended October 29, 2005 net income increased 30 Percent to $2,409,000, or $0.93 per diluted share, compared to $1,846,000, or $0.69 per diluted share, for the same period last year.
Total sales increased 4.7 Percent to $140.3 million compared to $134.0 million for the first nine months of last year. Same-store sales for the nine months increased 4.7 Percent over last year.
Results for the third quarter were a net loss of ($214,000) or ($0.09) per diluted share compared to net income of $170,000, or $0.06 per diluted share, in the same period last year. Total sales were $42.0 million compared to $42.6 million in the same quarter of last year. Same-store sales for the third quarter decreased (1.1) Percent.
Stewart M. Kasen, President and Chief Executive Officer, said, “Company was disappointed with results for this quarter, but historically, the third quarter represents approximately three percent of the full year's earnings.”
For the first nine months, the Company's net income is up 30 Percent on 4.7 Percent higher sales. “The Company recently completed its new store expansion for 2005. During the year the Company opened six new stores in Indiana, Kentucky and North Carolina.
Also, five stores were relocated in Arkansas, Michigan, North Carolina, Pennsylvania and Virginia. The Company has closed six stores, which had not met the Company's sales and profitability expectations in Alabama, Michigan, North Carolina, Ohio, Tennessee and Texas.
S&K Famous Brands Inc is a retailer of value-priced menswear operating 236 stores in 27 states reaching from the East Coast to Texas and from Maine to Florida. S&K offers a complete line of men's apparel generally priced 20-40 Percent below department store and specialty store regular prices.
S&K Famous Brands Inc
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