Bombay Announces 11% Same Store Sales Increase
Furniture World News
The Bombay Company, Inc. reported that total revenue was $39.5 million for the four-week period ended August 27, 2005 compared to $35.4 million for the four-week period ended August 28, 2004, a 12% increase. Same store sales for stores opened more than one year increased 11%. Revenue from non-store activity, including Internet, Mail Order, Bailey Street and International, was 5% of total revenue for fiscal August 2005 compared to 10% for fiscal August 2004, a decline of $1.7 million of which $1.2 million related to the Bailey Street operations.
For the thirty weeks ended August 27, 2005, total revenue increased 3% to $289.7 million from last year's $281.5 million while same store sales were flat. Revenue from non-store activity was 5% of total revenue for the period compared to 8% for the corresponding thirty-week period of the prior year. Revenue from Bailey Street, the assets of which were disposed during the second quarter of Fiscal 2005, was $6.9 million for the year-to-date period this year compared to $8.8 million last year.
James D. Carreker, Chairman and Chief Executive Officer, stated, "We are pleased with August sales results. We moved up a promotional event in order to reengage the customer and bring them back into our stores so that they would be able to see our new product and our new presentation style. We are encouraged by the response and the impact that it has had on sales -- especially big-ticket items such as furniture and wall decor. The positive results from the upgrading of our assortment and our new style of merchandise presentation are consistent with prior guidance."
The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through 493 retail outlets, specialty catalogs and the Internet in the U.S. and internationally.
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