The Bombay Co. Inc. (Fort Worth, Texas) reported a 2 percent decrease in revenue for the five-week period ended July 2, 2005. Same-store sales declined 2 percent.
Excluding wholesale revenue related to Bailey Street Trading Co., which was sold in May 2005, revenues increased 1 percent.
For the 22 weeks ended July 2, total revenue increased 2 percent but same-store sales declined 2 percent.
“Demand during the month of June was softer than we had expected,” said chairman and ceo James Carreker. “The environment was very competitive and a higher percentage of our sales were discounted than we had planned. As a result, while margins were under pressure, we exited the month with lower levels of clearance merchandise than we had this same time last year.
“While June’s results are disappointing, we expect to have the new in-store, lifestyle presentations in place throughout the chain by mid-July and the majority of the new fall product in by the end of the month. We believe that the new product and presentation represent a significant improvement and will help us to drive market share during the second half of the year.”