Clothing retailer Le Château Inc has reported that sales increased 15.7 percent to $279,064,000 for the year ended January 28th 2006 as compared with $241,131,000 last year.
Same-store sales increased by 11.2 percent compared with the same period a year ago. During the year, the company opened thirteen new stores, closed two stores and expanded several existing locations, resulting in the addition of 75,000 square feet or 11 percent to the Le Château network.
The net earnings for the year increased 48.0 percent to $23,513,000 or $3.95 per share from $15,886,000 or $2.96 per share last year, resulting primarily from continued improvements in gross margins due to a higher yielding product mix.
The company announced, on March 14th 2006, that it will begin evaluating various strategic alternatives, including, but not limited to, a sale of the company, a business combination or a capital reorganization, and has engaged a financial advisor to assist the Company in evaluating and considering such alternatives and their potential for enhancing shareholder value.
Sales rose 11.2 percent to $80,225,000 for the fourth quarter as compared with $72,150,000 last year. Same-store sales increased 6.8 percent over the same period a year ago.
The net earnings for the fourth quarter increased 29.5 percent to $6,492,000 or $1.08 per share from $5,013,000 or $0.91 per share the previous year.
The Board of Directors declared a quarterly dividend of $0.25 per Class A Subordinate Voting Share and Class B Voting Share. This is the 50th consecutive dividend declared by Le Château, and is payable on May 15th 2006 to the shareholders of record at the close of business on April 28th 2006.
Le Château is a leading Canadian brand in specialty retailing offering a broad array of fashion-forward apparel, accessories and footwear for style- conscious women and men.
The company's 47-year tradition of vertical integration, a design and manufacturing approach to retailing, makes it unique among Canadian fashion merchants.
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