Big Dog Holdings, Inc. reported that The Walking Company saw comparable store sales increase approximately 20% for the three-day Thanksgiving weekend. The retail concept also saw low-double-digit comparable store sales for months of October and November.
Commented CEO Andrew Feshbach, “We are very pleased with our performance at The Walking Company. For the three-day holiday weekend our comparative retail store sales increased approximately 20% over the prior year and our gross margins appear to be above last year's results for the holiday weekend. In addition to our strong Thanksgiving weekend, comparative store sales have increased in the low double digits for October and November and we expect them to continue for the remainder of the year. With margins holding above last year, we appear to be in a good position to achieve improved financial performance for The Walking Company for 2007. Further, we have now expanded The Walking Company to 178 stores, with nine more stores opening in December and three underperforming stores closing by around year end. Looking into 2008, we appear poised to grow rapidly as we continue our store expansion and integrate our new acquisition (Natural Comfort Footwear) which is scheduled to close in early January.”
In regards to the Company's Big Dog Sportswear subsidiary, Mr. Feshbach added, “The recent results for Big Dogs have continued per this year's trend, which has been challenging. However, holiday sales traditionally contribute a substantial portion of Big Dogs' yearly sales, and we are focused on successfully executing our holiday sales plan for Big Dogs this season. With this goal in mind, we were able to achieve a better Thanksgiving weekend (approximately -2% comp store results) by promoting more aggressively and plan to continue that tactic for the remainder of the year.”
