Goody's Family Clothing reported total sales for fiscal periods ended August 2, 2003, compared with fiscal periods ended August 3, 2002 as follows (dollars in millions):
Comp Store Fiscal Period: 2003 2002 Total Sales Sales July $ 92.3 $ 90.1 2.4% 0.9% Second Quarter $ 294.0 $ 284.0 3.5% 2.3% Six Months $ 577.1 $ 567.5 1.7% 1.6%
“I am pleased to report that we achieved a comparable store sales increase for both July and the second quarter of fiscal 2003,” commented Robert M. Goodfriend, Chairman and Chief Executive Officer. “A repeat, at the end of fiscal July 2003, of last year's sales tax holidays in five states within our markets allowed us to maintain total sales levels somewhat comparable to last year. Total inventory levels at the end of the month, on a per square foot basis, are close to our financial plan and modestly higher than those maintained at the same time last year.”
Last week, the Company celebrated the grand openings of two new stores — one in Sandersville, Georgia; and one in Rockingham, North Carolina — and four remodeled stores — three in the Birmingham, Alabama, market and one in Hazard, Kentucky.
