Knoxville based Goody's Family Clothing Inc reported the total sales of $98.7 million for the fiscal month of August 2005 (the four weeks ended August 27, 2005), an increase of 4.9 percent from total sales of $94.1 million for the fiscal month of August 2004 (the four weeks ended August 28, 2004). Comparable store sales for August 2005 decreased 0.3 percent compared with August 2004.
Total sales for the first seven months of fiscal 2005 decreased 1.2 percent to $683.1 million from $691.6 million for the same period last year. Comparable store sales for the first seven months of fiscal 2005 decreased 6.4 percent from the same period last year.
"The sales for the month were driven, in part, by more promotional pricing than in August of last year," commented Robert M. Goodfriend, Chairman and Chief Executive Officer. "Inventory levels on a per-square-foot basis remain lower at the end of August this year compared with the year-earlier period."
Goodfriend included, "Hurricane Katrina caused 14 store closures in Alabama, Louisiana, and Mississippi after the August month-end, of which six are still closed. At this time, they cannot predict how long these stores will remain closed."
"Severe wind, rain, and intermittent power outages affected approximately 40 other stores to varying degrees. Until civil authorities reopen restricted areas and telephone communication is restored, they are unable to assess the full impact of the storm on results of operations or quantify the property damage that may have occurred."
marketing@alchempro.com
