Fabric wholesale merchant Hancock Fabrics Inc reported that sales in the four-week period ended November 26, 2005 totaled $38.1 million compared with $41.2 million in the same period of the prior year.
Sales in comparable stores decreased 9.2 percent in November.
In the first ten months of fiscal 2005, total sales were $323.1 million versus $346.0 million in the same period of fiscal 2004.
Comparable store sales in the ten months to date declined 7.3 percent.
The Company also reported that it has completed sale/leaseback transactions for two store properties since the end of the third quarter which, together with cash from operations, has resulted in debt being paid down from $62 million to $57 million since the end of October.
Hancock Fabrics Inc is a specialty retailer of fabric and related home sewing and decorating accessories.
The Company operates 446 retail fabric stores in 43 states and operates an internet store.
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