West 49 Inc. reported modest sales gains for the back-to-school period. The Canadian action sports retailer said sales at stores open for at least one year rose 1.3% in the five weeks ended Sept 13, with 1.1% growth from its core West 49 banner.
Canadian retail sales inched up 0.1 % in July, their slowest pace since March, and lagged the 0.2% growth that markets had forecast. Analysts pointed to an underlying trend of softer consumer spending amid high gasoline prices and U.S. economic woes.
West 49 said that net sales increased 3.9% to C$32 million ($31 mm) reflecting new store openings, stronger same-store sales, and competitive pricing.
“Sales during the critical two-week period immediately before and after the Labor Day were very strong. In addition, the back-to-school period saw the continued strengthening of sales results in Ontario,” CEO Sam Baio said in a statement.
“Based on our success in strengthening our competitive position, as well as in driving the number of units per transaction through our incentive programs, we remain well positioned for the second half of fiscal 2009.”
