Bombay Announces 22% May Same Store Sales Increase

Furniture World Magazine

The Bombay Company, Inc. (NYSE: BBA) reported that same store sales for stores opened more than one year increased 22% for the four-week period ended May 31, 2003. Total revenue increased 24% to $39.5 million compared to $31.9 million for the four- week period ended June 1, 2002. Revenue from non-store activity, including Internet, Mail Order, Bailey Street Trading Company and International were approximately 7% of total revenue for the period for both periods. For the seventeen weeks ended May 31, 2003, same store sales increased 24% while total revenue increased 29% to $158.6 million from last year's $122.7 million. Revenue from non-store activity amounted to 8% of total revenue for the period compared to 7% for the corresponding seventeen weeks of the prior year. The Company reported its ninth consecutive month of double digit samestore sales increases. The May revenues were in line with Company expectations with product margins reflecting investments made in driving sales and reclaiming market share. A strong assortment at competitive prices supported by an effective marketing program has resulted in a continuing trend of double-digit sales growth across all regions of the United States and Canada and across all product categories. The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through 422 retail outlets, specialty catalogs and the Internet in the U.S. and internationally.