Gottschalks' same store sales for the month of August 2005 increased 0.4% from the prior year. Total sales for the month increased 4.8% to $49.6 million compared to total sales of $47.3 million in August 2004. On a year-to-date basis, same store sales increased 1.2% from the comparable period of 2004. Total sales on a year-to-date basis were $345.3 million, up 1.7% from $339.6 million for the same period last year.
Jim Famalette, president and chief executive officer of Gottschalks said, “We achieved same store sales growth for August in line with our expectations. In addition, the opening of our new River Park lifestyle center store on August 11th helped drive our 4.8% increase in total sales. As we have previously reported, initial results from the River Park store are better than we had anticipated. The new store had some impact on our three existing Fresno area stores in the first two weeks, but we are now seeing a more normal pattern return. Overall, our back to school business was good in juniors and young mens and slightly lower than expected in childrens. We continued to experience very solid performances in juniors, better sportswear, special sizes and shoes throughout the month. In our home store division, our furniture department also had a very strong sales performance in August. We continue to focus on improved inventory turnover and we ended the month with 3% less inventory than last year in comparable stores.”
Sales results are summarized as follows: Same Store August 27, August 28, Total % Sales % 2005 2004 Increase Increase (in 000's) Sales, 4 Weeks Ended $ 49,577 $ 47,292 4.8% 0.4% Sales, 30 Weeks Ended $ 345,318 $ 339,601 1.7% 1.2%