Bombay racks up May gains
By Furniture Today Staff -- Furniture Today, June 8, 2003
Fort Worth, Texas — The Bombay Company logged its ninth straight month of double-digit gains in same-store sales in May, while Havertys and Pier 1 Imports reported modest same-store declines.
Bombay said same-store sales in the four weeks ended May 31 jumped 22% from the comparable 2002 period. The 422-store, Fort Worth-based company credited a strong assortment at competitive prices, supported by an effective marketing program.
Total revenues at Bombay rose 24% to $39.5 million. Revenue from non-store activity, including Internet and mail-order sales, Bailey Street Trading Co. and International, accounted for 7% of sales.
Atlanta-based Havertys said same-store sales in May were down 2.4% from a year earlier, although total sales were up 3% to $60.4 million.
"Our May sales reflect an acceleration in sales activity during the last three weeks of the month. May comp-store sales in 2002 were up 9.6%, so this year's comparison is somewhat difficult," said Clarence Smith, president and chief executive officer of the 112-store chain.
He added that strong Memorial Day sales "will largely be reflected in our June sales results as our deliveries complete the sales cycle. We hope this will be the beginning of a sustained return of consumer spending."
Havertys opened its first store in San Antonio in May to strong response, and will open its first unit in West Palm Beach, Fla., this month, Smith said.
Pier 1, based in Fort Worth, also was up against a strong May 2002 and reported a 1.8% same-store decline this May. Total sales rose 6.3% from a year ago to $132 million in the four weeks ended May 31.
"Considering we were up against a very strong month last year and continued adverse weather conditions throughout most of the country, we were pleased with our May results," said Marvin Girouard, chairman and CEO. "Consumers responded well to our newspaper-insert and direct-mail promotions, and our Memorial Day weekend business was especially strong."
| Retailers report May revenues | |||
|---|---|---|---|
| Dollar amounts in millions | |||
| Company | Sales | Change | Same-store change |
| 1. For the four weeks ended May 31, 2003. |
|||
| Pier 1 Imports1 | $132.0 | 6.3% | -1.8% |
| Havertys | $60.4 | 3.0% | -2.4% |
| The Bombay Company1 | $39.5 | 24.0% | 22.0% |
-
June retail sales soften
Jul 24, 2005 -
June a mixed bag for three big chains
Jul 25, 2004 -
Bombay same-store sales jump 27%
Feb 9, 2003 -
Bombay sales climb 12% while Pier 1 slips in August
Sep 18, 2005 -
3 retailers' July sales decline
Aug 21, 2005
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