Shoe Pavilion, Inc. reported a 28.1% increase in net sales for the third quarter to $31.8 million from $24.8 million for the same period last year. Comparable store net sales for the third quarter increased 3.7%, while sales from new stores and relocated stores in the third quarter contributed $8.3 million.
For Q3, the company is expecting a net loss in the range of $100,000 to $300,000, or one cent to three cents per diluted share, compared to net income of $293,000, or four cents per diluted share last year.
During the quarter ended September 30, 2006, the company opened seven new stores and closed two stores in which the leases had expired, for a total of 101 doors in operation.
