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Hancock Fabrics comparable sales plunge in Nov
02 Dec '05
1 min read
Fabric wholesale merchant Hancock Fabrics Inc reported that sales in the four-week period ended November 26, 2005 totaled $38.1 million compared with $41.2 million in the same period of the prior year.
Sales in comparable stores decreased 9.2 percent in November.
In the first ten months of fiscal 2005, total sales were $323.1 million versus $346.0 million in the same period of fiscal 2004.
Comparable store sales in the ten months to date declined 7.3 percent.
The Company also reported that it has completed sale/leaseback transactions for two store properties since the end of the third quarter which, together with cash from operations, has resulted in debt being paid down from $62 million to $57 million since the end of October.
Hancock Fabrics Inc is a specialty retailer of fabric and related home sewing and decorating accessories.
The Company operates 446 retail fabric stores in 43 states and operates an internet store.
Sales in comparable stores decreased 9.2 percent in November.
In the first ten months of fiscal 2005, total sales were $323.1 million versus $346.0 million in the same period of fiscal 2004.
Comparable store sales in the ten months to date declined 7.3 percent.
The Company also reported that it has completed sale/leaseback transactions for two store properties since the end of the third quarter which, together with cash from operations, has resulted in debt being paid down from $62 million to $57 million since the end of October.
Hancock Fabrics Inc is a specialty retailer of fabric and related home sewing and decorating accessories.
The Company operates 446 retail fabric stores in 43 states and operates an internet store.
Hancock Fabrics Inc
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