Leading action sport retailer West 49 Inc reported its sales performance for the first quarter of fiscal 2007, ended April 29th 2006.
Sales for the quarter increased 87.8 percent to $35.5 million from $18.9 million for the first quarter of fiscal 2006. Two thirds of the growth was attributable to last year's acquisitions of banners Off the Wall, Amnesia, Arsenic, D-Tox, and the online business under the domain name www.boardzone.com.
At the end of the quarter the company was operating 112 stores under six banners compared to 62 stores under 2 banners the year before.
West 49 Inc reported first quarter comparable store sales growth of 8.5 percent, compared to the same period last year. Comparable store sales from the company's core West 49 banner grew by 8.2 percent, following strong comparable store sales growth of 10.3 percent in the first quarter the year before.
During the quarter, it opened five new stores, including two West 49 stores, two Billabong stores and an Amnesia store, and expanded its geographical coverage with its first West 49 store in the province of Newfoundland, located at the Avalon Mall in St. John's.
"We are pleased with the exceptional growth in our top line for the quarter," said Sam Baio, CEO of West 49 Inc.
West 49 Inc's first quarter earnings are expected to be reported mid-June 2006.
West 49 Inc is a multi-banner specialtyretailer of apparel, footwear and accessories related to skateboarding, snowboarding, and surfing, as well as the music industry, and fashion-forward young women. It targets 'Generation Y' customers (ages 10 through 18).
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