Oct. results mixed for 3 chains
By Janice Chamberlain -- Furniture Today, November 6, 2005
Atlanta — Three publicly traded furniture retailers issued mixed signals for October, with Haverty Furniture reporting modest gains in sales and same-store sales, Pier 1 Imports recording declines in both measurements, and The Bombay Company citing a slight improvement in same-store sales but a revenue decrease.
Full-line retailer Havertys reported total sales of $68.7 million in October, up 3.9% over October 2004, and same-store sales growth of 0.6%. In the first 10 months, the Atlanta-based chain had sales of $670.7 million, up 5.9% over year-earlier results, and a 1.8% increase in same-store sales.
At Fort Worth, Texas-based Bombay, same-store sales in October inched up 0.6%, as total revenues dropped 2.8% to $41.7 million. In the nine months ended Oct. 29, the specialty retailer reported a 2.7% increase in same-store sales and revenues of $127.9 million, a 1% increase over the same period in 2004.
Bombay Chairman and CEO James Carreker said, "During October, we saw continued strength in the wall décor category and increases in furniture sales. Improvements in these areas were partially offset by declines in decorative and functional accessory sales, as well as occasional tables, due in part to the shift in focus of our marketing efforts versus last year."
At Pier 1, also based in Fort Worth, same-store sales decreased 5.5% in October, with total sales falling 10.4%. In the eight months ended Oct. 29, total sales were off 5.1% to $1.1 billion and same-store sales declined 10.1%.
Pier 1 Chairman and CEO Marvin Girouard said, "During the first three weeks of October, improving customer traffic trends and higher average ticket sales resulted in slightly positive comparable store sales. In the final week of the month, comp-store sales were negative due to the discontinuation of the friends and family event, which historically had significantly increased revenues and reduced margins."
| Retailers report October revenues | |||
|---|---|---|---|
| Dollar amounts in millions | |||
| Company | Sales | Change | Same-store change |
| 1. For the four weeks ended Oct. 29. Source: Retailers |
|||
| Pier 1 Imports1 | $137.0 | -5.5% | -10.4% |
| Haverty Furniture | 68.7 | 3.9% | 0.6% |
| The Bombay Company1 | 41.7 | -2.8% | 0.6% |
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Oct. results mixed for 3 chains
Nov 3, 2005
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