Gottschalks announced that same store sales for the month of October 2003 decreased 5.8% from the prior year. Total sales for the month decreased 8.2% to $44.9 million from $48.9 million in October 2002.
For the thirteen weeks ending November 1, 2003, same store sales decreased by 2.0%, while total sales decreased 4.7% to $145.9 million, from $153.1 million for the same period last year. On a year-to-date basis, same store sales decreased by 1.9%, while total sales decreased 4.4% to $438.5 million, from $458.5 million for the same period last year.
The decrease in total sales for the month, quarter and year-to-date periods are partially attributable to the Company operating seven fewer stores than in the comparable periods of 2002.
Jim Famalette, president and chief executive officer of Gottschalks, said, “Due largely to unusually warm weather in California and Nevada, we generated weaker than anticipated sales of Fall/Winter apparel during the month of October in our stores in these two states. Comparable sales in our Pacific Northwest stores increased, however, due to more normal weather for this time of year in that region. We anticipate improvement in SG&A expense should offset the impact of lower than expected sales for the quarter. Based on our sales for the quarter, we expect to report third quarter bottom line results in a range similar to the same period last year.”
Sales results are summarized as follows:
Same Store
Total % Sales %
Nov. 1, Nov. 2, Increase/ Increase/
2003 2002 (Decrease) (Decrease)
(in 000's)
Sales, 4 Weeks Ended $44,887 $48,892 (8.2%) (5.8%)
Sales 13 Weeks Ended $145,928 $153,108 (4.7%) (2.0%)
Sales, 39 Weeks Ended $438,519 $458,536 (4.4%) (1.9%)
