Gottschalks same store sales in line with forecast
02 Sep '05
2 min read
Fresno, California, based regional department & specialty store chain Gottschalks announced same store sales for the month of August 2005 increased 0.4 percent from the prior year. Total sales for the month increased 4.8 percent to $49.6 million compared to total sales of $47.3 million in August 2004.
On a year-to-date basis, same store sales increased 1.2 percent from the comparable period of 2004. Total sales on a year-to-date basis were $345.3 million, up 1.7 percent from $339.6 million for the same period last year.
Jim Famalette, President and Chief Executive Officer of Gottschalks said, "Company achieved same store sales growth for August in line with expectations. In addition, the opening of new River Park lifestyle center store on August 11th helped drive 4.8 percent increase in total sales. As previously reported, initial results from the River Park store are better than anticipated. The new store had some impact on three existing Fresno area stores in the first two weeks, but now seeing a more normal pattern return."
"Overall, back to school business was good in juniors and young mens and slightly lower than expected in children. They continued to experience very solid performances in juniors, better sportswear, special sizes and shoes throughout the month. In home store division, furniture department also had a very strong sales performance in August. They continue to focus on improved inventory turnover and ended the month with 3 percent less inventory than last year in comparable stores."
marketing@alchempro.com
