Gottschalks Inc. reported a 2.1% decline in comparable store sales for the month of July as net sales decreased 4.1% to $39.4 million compared to $41.1 million in the same period of fiscal 2007. For the second fiscal quarter, which consisted of 13 weeks, same store sales decreased 7.3% and total sales decreased 7.8% to $133.7 million, compared to $145.0 million for the second fiscal quarter of 2007.
Jim Famalette, chairman and chief executive officer of Gottschalks said, “We experienced improved sales in July compared to recent months, as we continue to prudently manage our business during this difficult retail environment. As a result of our consistent execution, we ended the month with comparable store inventory down 9% versus the same period last year. Our best performing categories for the month were young mens, childrens, special sizes and housewares, while textiles, tabletops and luggage were the most challenging. Looking at the important back to school selling season, our in-stock position is solid and we are pleased with the initial consumer response to the launch of our ‘school Rocks marketing campaign.”