Bombay Announces April and First Quarter Revenue
03 Mayo 2006 - 9:11PM
PR Newswire (US)
FORT WORTH, Texas, May 3 /PRNewswire-FirstCall/ -- The Bombay
Company, Inc. (NYSE:BBA) reported today that total revenue for the
four-week period ended April 29, 2006 declined 5.8% to $38.5
million compared to $40.9 million for the four-week period ended
April 30, 2005. Same store sales for stores opened more than 12
months decreased 5.0% compared to the comparable four-week period
of the prior year. Revenue from non-store activity was 7.0% of the
month compared to 6.9% for the same period last year. Growth in the
direct- to-customer business and the international wholesale
operations partially offset the decline in revenue from the Bailey
Street operations, the assets of which were sold during Fiscal 2005
and which contributed $1.0 million in revenue for the period last
year. Current month results reflect the adverse impact of the shift
in the calendar, which resulted in the Easter holiday moving from
March during Fiscal 2005 to April in Fiscal 2006. (Logo:
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO ) For the
thirteen-week period ended April 29, 2006, total revenue declined
2.4% to $119.1 million compared to $122.1 million for the
comparable prior year period while same store sales declined 1.2%.
Revenue from non-stores activity was 7.1% of total revenue for the
nine-week period compared to 7.7% in the corresponding period of
last fiscal year. Growth in direct-to-customer and International
revenue partially offset lower revenue from the Bailey Street
operations, which accounted for approximately $3.6 million of
revenue during the prior period last year. Sales trends were
stronger during the first half of April but declined later in the
month due, in part, to the majority of stores being closed on
Easter and the calendar shift relating to Mother's Day. On a
relative basis, the furniture category continued to outperform the
accessories and wall decor categories in part due to the changing
focus of the content of the April catalog from a gift focus to a
furniture focus with the introduction of the new custom upholstery.
The average ticket and average unit retail both increased double
digit while retail traffic declined. "We are encouraged by the
positive comparison versus last year in Canada and with the
strength of our direct to customer business. We are concerned about
the weakness in our U.S. stores where we have experienced declines
in traffic and negative same store sales. We believe that we are
addressing these weaknesses with the change in field leadership and
with our planned introduction of broadcast as a marketing vehicle
in May," noted James D. Carreker, Chairman and Chief Executive
Officer. For the quarter, the furniture category had the strongest
performance due to strength in the bedroom, home office and
BombayKIDS furniture categories. The wall decor and accessories
categories declined largely as a result of lower print and mirror
sales and lower sales in the decorative accessory, lamps and floral
and garden categories. Consistent with the month of April, the
average ticket and average unit retail both increased double digit
while retail traffic declined. The overall environment for home
furnishings was more challenging than anticipated resulting in more
reliance on promotional activity to which the customer responded
favorably but which adversely impacted margins. During the current
fiscal year, no tax benefit will be recorded for losses generated
by the Company's U.S. operations during interim periods which
effectively results in reporting earnings per share on a pre-tax
basis as compared to prior year results where tax benefits were
reflected in the quarterly operating results. The Company plans to
release first quarter results on Wednesday, May 17, 2006 after the
close of stock market and will conduct a conference call with
management on Thursday, May 18, 2006 at 10:00 a.m. Central Time.
Interested parties should dial 212-676-5390 ten minutes prior to
the start time. The call will also be broadcast live over the
Internet at http://www.bombaycompany.com/. A telephone replay will
be available for 72 hours beginning at 12:00 p.m. Central Time at
800-633-8284. The access code is 21274577. The call will also be
available for replay for 45 days on the investor relations page of
the Bombay website. The Bombay Company, Inc. designs, sources and
markets a unique line of home accessories, wall decor and furniture
through 482 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. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Those risks are described in the Company's public
announcements, reports to stockholders and SEC filings, including
but not limited to Reports on Forms 10-K, 8-K and 10-Q, copies of
which are available from the SEC or may be obtained upon request
from the Company. The Company undertakes no obligation to revise
the forward-looking statements contained therein to reflect events
or circumstances after the date hereof as a result of new
information, future events or otherwise.
http://www.newscom.com/cgi-bin/prnh/20051026/BOMBAYLOGO
http://photoarchive.ap.org/ DATASOURCE: The Bombay Company, Inc.
CONTACT: Elaine D. Crowley, Sr. Vice President, Chief Financial
Officer, of The Bombay Company, Inc., +1-817-347-8200 Web site:
http://www.bombaycompany.com/
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