October results mixed for retailers
By Furniture Today Staff -- Furniture Today, November 11, 2001
Atlanta — Havertys reported a 4.4% increase in October same-store sales, leading a parade of mixed results from public home furnishings retailers in the month.
Total sales for the 104-store chain based here rose to $57 million last month, up 11.4% from $51.2 million in October a year ago.
"Sales improvements … were recorded in all of the regions in which we operate and gross margins remained strong," said President and Chief Executive Officer Jay Slater, hinting the worst seems to be over.
Havertys' sales were strong going into September, dropped off after Sept. 11, then came back in the last two weeks of the month. "So for six consecutive weeks, business has been very strong and so far it looks very promising for November," Slater said. "I think it may be actually turning."
Fort Worth, Texas-based Pier 1 Imports posted a 4% increase in same-store sales for the four-week period ended Nov. 3 and a 12.2% increase in total sales over the same period last year.
Chairman and CEO Marvin Girouard noted the company was up against a double-digit same-store sales gain from the previous year. "While the average transaction was down slightly, traffic was up and conversion rate was flat compared to last year," he said.
The Bombay Company, also based in Fort Worth, had a 3% same-store sales dip for the four-week period, while total revenue increased 10% to $31.8 million.
Carmie Mehrlander, chairman and CEO, said the company has seen some in improvements in the last several weeks but continues "to operate in a very uncertain economic environment."
Sears Canada reported a 0.2% increase in same-store sales for the four-week period ending Oct. 27, citing strong performance by its furniture and appliance stores.
Corte Madera, Calif.-based Restoration Hardware doesn't report monthly results but had a 13% drop in same-store sales in its third quarter ended Nov. 3, and a 5.4% dip in net sales to $76.6 million.
| Retailers report October sales | |||
|---|---|---|---|
| Dollar amounts in millions | |||
| Company | Sales | Change | Same-store change |
| 1. In Canadian dollars. For the four weeks ended Oct. 27. 2. For the four weeks ended Nov. 3. Source: Retailers |
|||
| Sears Canada¹ | C$571.8 | 4.9% | 0.2% |
| Pier 1 Imports² | $114.1 | 12.2% | 4.0% |
| Havertys | $57.0 | 11.4% | 4.4% |
| Bombay Company² | $31.8 | 10.0% | -3.0% |
-
3 chains post fair-to-strong Feb.
Mar 7, 2004 -
Havertys posts strong Dec. gains
Jan 11, 2004 -
Pier 1, Bombay post Feb. sales declines; Havertys up
Mar 20, 2005 -
Three chains record sales gains in July
Aug 10, 2003 -
3 retailers' July sales decline
Aug 21, 2005
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