Gottschalks Reports February 2008 Comparable Store Sales
06 Marzo 2008 - 6:30AM
PR Newswire (US)
FRESNO, Calif., March 6 /PRNewswire-FirstCall/ -- Gottschalks Inc.
(NYSE:GOT) today announced that same store sales for the month of
February decreased 9.5% from the prior year. Total sales for the
month decreased 11.5% to $37.7 million compared to $42.6 million in
the same period of fiscal 2007. The Company operated one less store
for the first month of the fiscal year compared to the same period
in fiscal 2007. Jim Famalette, chairman and chief executive officer
of Gottschalks said, "Our February sales results reflect persistent
weak economic conditions as well as our planned reduction in
inventory levels. During the month, we focused on clearing through
winter merchandise and transitioning into our new spring product
assortment. We continue to prudently manage our inventory levels
and ended the month with 4.6% less comparable inventory than the
same period last year. We believe we are better positioned both in
the quality of our assortments as well as our inventory levels as
we enter March. We continue to implement our key strategic
initiatives that are designed to improve our business and
contribute to the long-term growth of Gottschalks." About
Gottschalks Gottschalks is a regional department store chain,
currently operating 59 department stores and three specialty
apparel stores in six western states, including California (39),
Washington (7), Alaska (5), Oregon (4), Nevada (2) and Idaho (2).
Gottschalks offers better to moderate brand-name fashion apparel,
cosmetics, shoes, accessories and home merchandise. Gottschalks
offers corporate information and selected merchandise on its
website located at http://www.gottschalks.com/. Business Risks and
Forward Looking Statements This release contains forward-looking
statements (within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995) that involve
risks and uncertainties. In some instances, such statements may be
identified by the use of forward-looking terminology such as "may,"
"will," "expects," "believes," "intends," "projects," "forecasts,"
"plans," "estimates," "anticipates," "continues," "targets," or
similar terms, variations of such terms or the negative of such
terms. Such statements are based on management's current
expectations and are subject to a number of factors and
uncertainties which could cause actual results to differ materially
from those described in the forward-looking statements, including,
without limitation, the Company's ability to meet debt obligations
and adhere to the restrictions and covenants imposed under its
various debt agreements; the timely receipt of merchandise and the
Company's ability to obtain adequate trade credit from its key
factors and vendors; risks arising from general economic and market
conditions (including uncertainties arising from acts of terrorism
or war); the ability to improve the profitability and cash flows of
its stores or to sell, sublease or close underperforming stores;
the ability to modify operations in order to minimize the adverse
impact of rising costs, including but not limited to health care,
workers' compensation, property and casualty insurance and
utilities costs; the effects of seasonality and weather conditions,
changing consumer trends and preferences, competition, consumer
credit, the Company's dependence on its key personnel and general
labor conditions, all of which are described in more detail in
Gottschalks' Annual Report on Form 10-K and other reports filed by
Gottschalks with the Securities and Exchange Commission.
GOTTSCHALKS PRESENTLY DOES NOT INTEND TO UPDATE THESE STATEMENTS
AND UNDERTAKES NO DUTY TO ANY PERSON TO EFFECT ANY SUCH UPDATE
UNDER ANY CIRCUMSTANCES. DATASOURCE: Gottschalks Inc. CONTACT:
Gregory Ambro, Executive Vice President, Chief Operating Officer of
Gottschalks Inc., +1-559-434-4800; or Leigh Parrish,
+1-212-850-5651, or Stephanie Rich, +1-212-850-5706, both of
Financial Dynamics for Gottschalks Inc. Web site:
http://www.gottschalks.com/
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