Gottschalks Inc. announced that same store sales for the month of November 2004 decreased 8.1% from the prior year. Total sales for the month decreased 8.4% to $61.4 million from $67.1 million in November 2003. For the month the Company operated one less store than the same period of fiscal 2003.
On a year-to-date basis, same store sales increased 0.4% from the comparable period of fiscal 2003. Total sales on a year-to-date basis decreased 0.8% to $501.6 million compared to $505.6 million in the same period of fiscal 2003. For the year-to-date period the Company operated seven fewer stores than the same period of fiscal 2003.
Jim Famalette, president and chief executive officer of Gottschalks, said, “While we had anticipated sales this holiday season would shift and be even stronger during December, our November sales were below our expectations. Cold wear merchandise such as outerwear and sweaters did not perform as well as we had anticipated during the month. Additionally, the home division generated lower sales compared to the same period last year. We experienced good activity in our stores the Friday after Thanksgiving, but traffic levels slowed on Saturday. However, we continue to expect positive sales trends in December due in part to the two extra shopping days prior to Christmas during December as well as consumers tending to shop closer to the holiday. We have focused marketing programs planned throughout December and expect a strong finish to the holiday selling season. Based on the November sales results we currently anticipate fourth quarter comparable sales will be even with last year.”
