The Bombay Company, Inc. Announces 10% May Same Store Sales Increase
Furniture World Magazine
The Bombay Company, Inc. reported that same store sales increased 10% for the four-week period ended May 28, 2005. Total revenue increased 13% to $42.5 million for the period compared to $37.5 million for the four-week period ended May 29, 2004. Revenue from non-store activity, including Bailey Street Trading Company, Internet, Mail Order and International, amounted to 5% of total revenue for the period compared to 9% for the corresponding period of the prior year.
For the seventeen weeks ended May 28, 2005, total revenue increased 2% to $164.6 million from last year's $161.1 million, while same store sales declined 1%. Revenue from non-store activity, including Bailey Street Trading Company, Internet, Mail Order and International, amounted to 6% of total revenue for the period compared to 9% for the corresponding seventeen weeks of the prior year.
James D. Carreker, Chairman and Chief Executive Officer, stated, "We were pleased with the sales momentum of May which saw a continuation of the trends that developed in April and an exceptionally strong Memorial weekend promotion. Our customers continue to respond favorably to our improvements in the quality and design of our assortments. Softness in our Internet and catalog businesses, due in part to changes in the marketing and promotional strategy, brought the month total revenues in line with expectations. The sale of our wholesale business, Bailey Street, will affect our top line revenues going forward. However, the simpler organizational structure and use of funds to migrate stores from mall to off-mall are important aspects of our annual plan. We maintain our previously announced annual earnings guidance."
The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through 496 retail outlets, specialty catalogs and the Internet in the U.S. and internationally.