As it has for the past few quarters, The Walking Company carried the weight for Big Dog Holdings, Inc. as the companys namesake retail chain posted comparable sales declines for both the fourth quarter and fiscal year. TWC, on the other hand, posted its third consecutive year of double-digit comparable store sales increases with a 10.6% gain for the year and a 14.5% improvement for the quarter.
Consolidated net sales for the year were $218.6 million, a 22% increase from $179.1 million in 2005. Overall comparable store sales increased 3.0% for the year, including the 10.6% gain at TWC and a 4.8% decline for the Big Dogs chain.
Consolidated net sales for the fourth quarter were $72.6 million, jumping 22% from last years $59.4 million. Comparable retail store sales increased 5.8% for the fourth quarter on a 14.5% increase at TWC and a 4.3% decline at Big Dogs.
Although not included in the comparative stores sales base, management said that the stores acquired from Steve's Shoes saw flat comp sales in Q4 with January comps outpacing the TWC trend. TWC gross margin for Q4 and 2006 wee flat.
TWC ended the year with 151 stores, which includes 25 newly built stores opened and 35 stores acquired in 2006. Looking out to 2007, the company expects to open 40 new TWC stores with approximately half of those planned to be in operation by July.