Bombay Company post net loss of $8mn for quarter ended April 30, 2005
20 May '05
4 min read
The Company ended the quarter with $151.5 million of inventory, which was $20.4 million higher than the prior year. The increase was driven by higher levels of inventory in transit from the vendors due to the acceleration of the timing of new product introductions planned for July as well as higher inventory levels to support the growing BombayKIDS business. The Company had $28.4 million in borrowings under its credit facility as of the end of the quarter.
During the first quarter, the Company opened 17 stores, including four combination stores, and closed 24 stores as it continued the migration from mall to off-mall locations. During the second quarter, the Company expects to open 7 stores and close approximately 5 to 7 stores. The year-end store count is expected to be in the range of 500 to 505 stores.
The Bombay Company Inc designs, sources and markets a unique line of home accessories, wall decor and furniture through 495 retail outlets, specialty catalogs and the internet in the U.S. and internationally.
The Bombay Company Inc and its wholly-owned subsidiaries (the "Company" or "Bombay") design, source and market a unique line of fashionable home accessories, wall decor and furniture through a network of retail locations throughout the United States and Canada, through specialty catalogs, over the Internet and internationally through licensing arrangements.ciacialty catalogs, over the Internet and internationally through licensing arrangements.
marketing@alchempro.com
