Shoe Pavilion announced net sales were $21.2 million for the second quarter ended June 28, 2003, compared to net sales of $22.7 million for the same period in 2002, a 6.9% decrease. Net sales from the Company’s retail stores and Gordmans licensed shoe departments were $21.2 million and $0.0, respectively, for the second quarter ended June 28, 2003 compared to $20.5 million and $2.2 million, respectively, for the same period last year.
Net sales for the six months ended June 28, 2003, were $39.7 million, a 10.0% decrease from net sales of $44.2 million for the six months ended June 29, 2002. Net sales from the Company’s retail stores and Gordmans licensed shoe departments were $39.7 million and $0.0 million, respectively, for the six months ended June 28, 2003 compared to $39.2 million and $5.0 million, respectively, for the same period last year.
Comparable store net sales decreased 7.6% and 8.3%, respectively, for the second quarter and six months ended June 28, 2003 from the same periods last year.
During the quarter ended June 28, 2003 the Company opened two new stores and closed two stores in which the leases had expired bringing the total number of stores the Company operates to 87.
