Headlines

Bombay Blues

Retailer experiences revenue and sales decline in May

Published

21 years ago

June 3, 2004

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The Bombay Co. Inc. (Fort Worth, Texas) announced a 5 percent decline in total revenues for the four-week period ended May 29, 2004. Same-store sales fell 16 percent during the month.

For the 17 weeks ended May 29, 2004, total revenues increased 1 percent, while same store sales declined 10 percent.

“May sales continue to reflect the lack of new product in our core Bombay operations as we manage out of the inventory issues from the end of fiscal 2003,” said chairman and ceo James Carreker. “Sales were also adversely impacted by the timing of the Memorial Day holiday that resulted in two days of holiday selling being shifted to fiscal June. We continue to be encouraged by sales from our BombayKIDS operations and growth in our Internet and Bailey Street Trading Co. businesses.”

Carreker insisted that the retailer’s inventory dollars were now on plan, and that it expected improvement in the merchandise assortment as new product arrives for the fall season beginning in July.

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