The Walking Company has been the lead dog for Big Dog Holdings for the past few quarters and this time was no different. The retailer posted an 11.5% jump in comparable store revenues for the third quarter, on top of a 13.1% improvement in the year-ago quarter.
Overall revenues at The Walking Company increased 58.2% to $30.7 million from $19.4 million last year. Even margins are up at the outdoor footwear retailer as management said on a conference call that “gross margin was up 40 basis points.”
Unfortunately, the companys namesake retail chain is not producing in line with TWC. Big Dog revenue decreased 8% to $23.4 million from $25.6 million, while comparable store sales were down 3.4% with gross margin down 400 basis points.
For the company as a whole, net income decreased to $471,000 from $1.8 milion last year, with fully diluted income per share down to 5 cents from 18 cents in the year-ago quarter.
The company operated a total of 297 stores at quarter-end, with 139 The Walking Companys and 155 Big Dogs, as compared to 261 stores one year-ago, of which 86 were TWC and 175 were Big Dogs. The company expects to operate 149 TWC stores at year-end with approximately 140 Big Dog doors.