Bombay Announces November Revenue
30 Noviembre 2005 - 6:17PM
PR Newswire (US)
FORT WORTH, Texas, Nov. 30 /PRNewswire-FirstCall/ -- The Bombay
Company, Inc. (NYSE:BBA) reported today that total revenue
decreased 13.4% to $50.1 million for the four-week period ended
November 26, 2005 compared to $57.8 million for the four weeks
ended November 27, 2004. Same store sales for stores open more than
one year declined 12.4%. Revenue from non-store activities
including Internet, Mail Order, International and Bailey Street was
5.3% of total revenue compared to 7.2% the prior year. Prior year
revenue includes $1.0 million, or 1.8% of the total, from the
Bailey Street operations, which were disposed of during the second
quarter of Fiscal 2005. (Logo:
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO ) Total
revenue for the forty-three week period ended November 26, 2005
declined 0.5% to $428.3 million compared to $430.6 million for the
forty-three week period ended November 27, 2004. Same store sales
declined 2.0% for the year-to-date period. Year-to date revenue
from non-store activities was 4.8% compared to 9.6% for the Fiscal
2004 year-to-date period. James D. Carreker, Chairman and Chief
Executive Officer, noted, "We created a significant sales shortfall
in the early weeks of November by not repeating a 50% off event
that generated several million dollars of incremental sales during
the first two weeks of last November. We determined that the event
lacked sufficient profitability given the high discount rate and
reduced the effectiveness of the subsequent holiday promotions.
Therefore, we replaced the promotion with two 40% off events
earlier in the fall with greater limits on items included in the
sale. In an attempt to offset the impact of the change, we moved a
gift catalog out of October and into November which we believe
provided a better start to the gift giving season but fell far
short of matching the sales for the 50% off event. The change in
the promotion strategy resulted in a significant improvement in the
product margins although not enough to offset the sales decline.
"Given the anticipation of a later and more promotional holiday
season, we also made the decision to back load our broad-based
advertising and promotions to the five-week period from
Thanksgiving to Christmas. We significantly increased advertising
during the Thanksgiving weekend, which resulted in a slight
increase in same store sales and product margins although far below
expectations given the amount of advertising and special
promotions. "While the month was difficult, we did see some
positives. We entered the holiday season with an upgraded
assortment that resulted in a 10% increase in the average unit
retail realized for the month and a 13% increase for the
Thanksgiving week. While we believe store traffic was down, based
upon counts from a subset of our stores, the conversion rate was
the highest of the fall season. Off-mall, core Bombay locations in
the US generated positive comp sales for Thanksgiving week at a
substantial spread over our mall-based stores. Wall decor and
functional accessories showed the greatest strength along with
Christmas ornaments and nutcrackers. We also began to see a
strengthening of the Internet business later in the month. "The
holiday season has just begun and we think that we are well
positioned for the remainder of the gift giving season. We have
adjusted our marketing calendar to respond to the loss of furniture
sales in November and to improve our market share capture for the
remaining weeks of the holiday season," concluded Mr. Carreker. The
Bombay Company, Inc. designs, sources and markets a unique line of
home accessories, wall decor and furniture through 502 retail
outlets, specialty catalogs and the Internet in the U.S. and
internationally. Any statements in this press release that may be
considered forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially.
Actual results may differ from forward-looking statements due to
the risk factors discussed in the periodic reports filed by the
Company with the Securities and Exchange Commission, which the
Company urges investors to consider. Photo:
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO AP Archive:
http://photoarchive.ap.org PRN Photo Desk photodesk@prnewswire.com
DATASOURCE: The Bombay Company, Inc. CONTACT: Elaine D. Crowley,
Sr. Vice President, CFO and Treasurer of The Bombay Company, Inc.,
+1-817-347-8200 Web site: http://www.bombaycompany.com/
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