The Bombay Company Reports Increase In June Business

Furniture World Magazine

The Bombay Company, Inc. reported that total sales for the five week period ended July 7, 2001 were $37.1 million compared to $35.1 million for the five week period ended July 1, 2000, an increase of 6% over last year's reporting period. On a comparable five week basis for the period ended July 7, 2001, same store sales increased 1% as compared to the five week period ended July 8, 2000. As a result of the 53 week calendar for fiscal 2000 same store sales on a comparable 5 week basis have been adjusted to reflect the shift in the five week period constituting fiscal June. For the twenty-two week period, total sales increased 7% to $158.0 million compared to $147.2 million during last year's reporting period and same store sales, adjusted for the 53 week period, increased 2%. Carmie Mehrlander, President and Chief Executive Officer, stated, "While June remained a difficult selling period, heavily dependent on promotional activity, sales of accessories as well as the bedroom and home office furniture areas performed well during the month. The softness in sales and the promotional environment continue to pressure our gross margins and are expected to have an adverse impact on profitability. At this point, we expect results for the quarter to be at the low end of the earnings range as reported in our first quarter earnings press release." The Bombay Company, Inc. is specialty retailer marketing classic and timeless furniture, accessories and wall decor through a network of 415 Bombay stores and its mail order operations in the United States and Canada as well as over the Internet at http://www.bombaycompany.com.