Big Dog Holdings, Inc. reported that comparable store sales at The Walking Company increased 12.8% for the 2005 fiscal year ended December 31 and that comp sales increased 7.0% in the fourth quarter. The total company comp store sales gain for the quarter and the year were moderated by declines in the Big Dogs retail chain. Total net sales were up 11% to $179.1 million for the year and up 6.6% to $55.7 million for the fourth quarter.
BDOG closed 12 Big Dog stores and opened 18 TWC stores in the last year for a total of 268 stores, including 92 TWC doors.
In other news, The Walking Company has agreed to acquire substantially all the assets of Steve's Shoes, Inc. for approximately $4.2 million in a bankruptcy auction. Steve's Shoes operates 45 stores in 22 states, primarily in the Midwest, under the store names Steve's Shoes, Overland Trading Co., and Sole Outdoors, but those stores are expected to be changed to TWC formats. The company has total annual sales of approximately $35 million.
