Goody's Family Clothing, Inc. reported total sales for the fiscal month of August 2003 (the four weeks ended August 30, 2003) of $87.1 million, an increase of 0.6% from total sales of $86.6 million for the fiscal month of August 2002 (the four weeks ended August 31, 2002). Comparable store sales for August 2003 increased slightly by 0.03% when compared with August 2002.
Total sales for the seven months ended August 30, 2003, increased 1.5% to $664.2 million from $654.1 million for the same period last year. Comparable store sales for the first seven months of fiscal 2003 increased 1.4% from the same period last year.
“Comparable store sales for the month increased slightly by 0.03% when compared with August last year, making six consecutive months of positive comparable store sales increases,” said Robert M. Goodfriend, Chairman and Chief Executive Officer. “While the comparable store sales increase for the month was relatively flat, we believe this was driven primarily by our strategic decision to achieve higher margins by reducing the level of clearance merchandise sales compared with August of last year. Inventories at the end of the period were slightly higher than plan and year-earlier levels.”
