Sales increase in Q3 at Shoe Pavilion
10/10/2006
American footwear retailer Shoe Pavilion, Inc. has reported a 28.1% increase in net sales for the third quarter ended September 30. Sales grew $7.1 million to $31.8 million from $24.8 million for the third quarter ended
The company is expecting a net loss in the range of $100,000 to $300,000 for the quarter compared with net income of $293,000 in the prior year period.
Chairman and CEO Dmitry Beinus stated, “Our performance for the third quarter was not in line with our expectations since comparable store sales, while good, came in below our expectations, and total net sales were lower than expected, particularly in the month of September. The quarter was also impacted by pre-opening expenses related to the opening of seven new stores in the quarter, three of which were in the last two weeks of the quarter. We remain on track to open 20 to 22 stores in fiscal 2006.”
Share this story:
