Shoe Pavilion achieves all-round increases - leatherbiz: Leading news Leatherbiz

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Shoe Pavilion achieves all-round increases

27/02/2006
Shoe Pavilion has announced that it achieved increases and improvement in sales, gross profit and net income in 2005.

For the fourth quarter 2005, which ended December 31, 2005, the company reported an unaudited net income of $1.3 million compared to net income of $1.0 million for the fourth quarter ended in January 1, 2005. For all of fiscal 2005, the company reported preliminary unaudited net income of $2.7 million compared to $2.1 million or for the same period last year.

Gross profit for the full year of 2005 was $36.0 million or 35.1% of net sales compared to $29.9 million or 34.9% for the prior year. The company opened 10 new stores and closed 6 stores during 2005 as part of its strategic plan to close smaller stores upon lease expiration and open larger stores in power retail centres.
 
Shoe Pavilion is an independent off-price branded footwear retailer in the Western United States.


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