The Walking Co. Sees Sales Creep Up for Q2

The newly-minted The Walking Company Holdings, Inc. reported consolidated net sales increased 0.3% for the second quarter to $56.0 million from $55.9 million last year which includes both of the company’s retail concept, The Walking Company and Big Dog Sportswear.


Consolidated comparable store sales decreased 1.2% for the second quarter of fiscal 2008 as The Walking Company posted a 3.2% decline and Big Dogs reported a 4.0% increase.


Net sales at The Walking Company concept increased 8.7% for the second quarter to $41.7 million from $38.4 million last year as the addition of new stores offset the comparable store sales decline. TWC’s margin contribution decreased to 51.7% as compared to last year’s margin contribution of 52.4%.


TWC product margin remained constant to last year, although the overall margin decreased as a result of liquidating certain inventory items. The margin decline lead to the division switching to a net loss for the quarter of $1.5 million after net income of $0.1 million for the year-ago period.


Consolidated operating loss for the second quarter 2008 was $2.3 million, compared to operating income of $828,000 for the second quarter 2007. Management reported that the decrease in operating income is largely attributable to the closures of Big Dogs stores, a $2.9 million reduction in TWC sales, along with operating lag resulting from the newly opened TWC store openings.


 As a result, the consolidated fully diluted net loss per share for the second quarter 2008 increased to 23 cents net loss per share, compared with 2 cents net loss per share for the second quarter 2007.

The Walking Co. Sees Sales Creep Up for Q2

The newly-minted The Walking Company Holdings, Inc. reported consolidated net sales increased 0.3% for the second quarter to $56.0 million from $55.9 million last year which includes both of the company’s retail concept, The Walking Company and Big Dog Sportswear.


Consolidated comparable store sales decreased 1.2% for the second quarter of fiscal 2008 as The Walking Company posted a 3.2% decline and Big Dogs reported a 4.0% increase.


Net sales at The Walking Company concept increased 8.7% for the second quarter to $41.7 million from $38.4 million last year as the addition of new stores offset the comparable store sales decline. TWC’s margin contribution decreased to 51.7% as compared to last year’s margin contribution of 52.4%.


TWC product margin remained constant to last year, although the overall margin decreased as a result of liquidating certain inventory items. The margin decline lead to the division switching to a net loss for the quarter of $1.5 million after net income of $0.1 million for the year-ago period.


Consolidated operating loss for the second quarter 2008 was $2.3 million, compared to operating income of $828,000 for the second quarter 2007. Management reported that the decrease in operating income is largely attributable to the closures of Big Dogs stores, a $2.9 million reduction in TWC sales, along with operating lag resulting from the newly opened TWC store openings.


As a result, the consolidated fully diluted net loss per share for the second quarter 2008 increased to 23 cents net loss per share, compared with 2 cents net loss per share for the second quarter 2007.

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