Big Dog Holdings, Inc. Announces Strong Start for Holiday Sales for The Walking Company
December 03 2007 - 10:00AM
Marketwired
SANTA BARBARA, CA (www.bigdogs.com) (www.thewalkingcompany.com),
a developer and retailer of branded, lifestyle consumer products,
today reported that the holiday sales for The Walking Company were
successfully launched with strong results over the Thanksgiving
weekend.
Commented CEO Andrew Feshbach, "We are very pleased with our
performance at The Walking Company. For the three-day holiday
weekend our comparative retail store sales increased approximately
20% over the prior year and our gross margins appear to be above
last year's results for the holiday weekend. In addition to our
strong Thanksgiving weekend, comparative store sales have increased
in the low double digits for October and November and we expect
them to continue for the remainder of the year. With margins
holding above last year, we appear to be in a good position to
achieve improved financial performance for The Walking Company for
2007. Further, we have now expanded The Walking Company to 178
stores, with nine more stores opening in December and three
underperforming stores closing by around year end. Looking into
2008, we appear poised to grow rapidly as we continue our store
expansion and integrate our new acquisition (Natural Comfort
Footwear) which is scheduled to close in early January."
In regards to the Company's Big Dog Sportswear subsidiary, Mr.
Feshbach added, "The recent results for Big Dogs have continued per
this year's trend, which has been challenging. However, holiday
sales traditionally contribute a substantial portion of Big Dogs'
yearly sales, and we are focused on successfully executing our
holiday sales plan for Big Dogs this season. With this goal in
mind, we were able to achieve a better Thanksgiving weekend
(approximately -2% comp store results) by promoting more
aggressively and plan to continue that tactic for the remainder of
the year."
Big Dog Holdings, Inc. consists of Big Dog Sportswear and The
Walking Company. The Walking Company is the leading independent
specialty retailer of high-quality, technically designed comfort
shoes and accessories that features premium brands such as ECCO,
Mephisto, Dansko, and Merrell, among many others. The Walking
Company operates stores in premium malls across the nation. Big
Dogs develops, markets and retails a branded, lifestyle collection
of unique, high-quality, popular-priced consumer products,
including activewear, casual sportswear, accessories and gifts. The
BIG DOGS� brand image is one of quality, value and fun. The BIG
DOGS� brand is designed to appeal to people of all ages and
demographics, particularly baby boomers and their kids, big and
tall customers, and pet owners. In addition to its retail stores,
Big Dogs markets its products through its catalog, internet and
corporate sales accounts.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995 -- With the exception of historical information,
the matters discussed in this press release are forward-looking
statements that involve a number of risks and uncertainties. The
actual future sales and other results of the Company could differ
significantly from those statements. Further information on the
Company's risk factors is contained in the Company's quarterly and
annual reports as filed with the Securities and Exchange
Commission.
For Further Information: Big Dog Holdings, Inc. 121 Gray Avenue
Santa Barbara, California 93101 www.walkingco.com www.bigdogs.com
CONTACT: Alexis Dilg Investor Information (805) 963-8727, ext. 1302
alexisd@bigdogs.com
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