Goody’s Family Clothing, Inc. reported total sales of $105.7 million for the fiscal month of June 2003 (the five weeks ended July 5, 2003), an increase of 2.9% over total sales of $102.7 million for the fiscal month of June 2002 (the five weeks ended July 6, 2002). Comparable store sales for June 2003 increased 2.5% over June 2002.
Total sales for the first five months of fiscal 2003 increased 1.5% to $484.7 million from $477.5 million during the same period last year. Comparable store sales for the first five months of fiscal 2003 increased 1.7% from the same period last year.
“We achieved a comparable store sales increase in June despite wetter and cooler weather conditions compared with June of last year. In an effort to stimulate sales and maintain appropriate inventory levels, we became more promotional during the second half of the month,” said Robert M. Goodfriend, Chairman and Chief Executive Officer. “Total inventory levels at the end of the month, on a per square foot basis, were similar to inventory levels at the same time last year.”
The Company expects to open two new stores — one in Sandersville, Georgia, on July 31, 2003, and one in Rockingham, North Carolina, on August 1, 2003; and, also anticipates the grand openings of four remodeled stores on August 1, 2003 — three in the Birmingham, Alabama, market and one in Hazard, Kentucky.
