Hancock Fabrics Reports October Sales
November 02 2006 - 8:12AM
Business Wire
Hancock Fabrics, Inc. (NYSE: HKF), today reported that sales in the
four-week period ended October 28, 2006 totaled $34.3 million,
compared to $37.0 million in the same period of the prior year. The
decrease in total sales was due to having 41 fewer stores this year
and a decline in comparable store sales of 1.4% in October. In the
third quarter, total sales were $97.0 million versus $103.9 million
in the same period of fiscal 2005, and comparable store sales
declined 1.5%. Year-to-date, total sales were $276.6 million in
2006 and $285.0 million in 2005. Comparable store sales in the nine
months to date declined 0.7%, including a 3.7% benefit from 40
stores that had been liquidated by the end of August in connection
with store closing sale events and two other stores that are in the
process of being liquidated. �Our apparel and quilting/craft
categories continued to be bright spots during October. However,
the gains in those areas were more than offset by declines in the
home decorating area,� said Jane Aggers, Chief Executive Officer.
Hancock Fabrics, Inc. � America's Fabric Store � is committed to
serving creative enthusiasts with a complete selection of fashion
and home decorating textiles, sewing accessories, needlecraft
supplies and sewing machines. The Company operates 405 retail
stores in 40 states and an Internet store at
www.hancockfabrics.com. Hancock Fabrics, Inc. (NYSE: HKF), today
reported that sales in the four-week period ended October 28, 2006
totaled $34.3 million, compared to $37.0 million in the same period
of the prior year. The decrease in total sales was due to having 41
fewer stores this year and a decline in comparable store sales of
1.4% in October. In the third quarter, total sales were $97.0
million versus $103.9 million in the same period of fiscal 2005,
and comparable store sales declined 1.5%. Year-to-date, total sales
were $276.6 million in 2006 and $285.0 million in 2005. Comparable
store sales in the nine months to date declined 0.7%, including a
3.7% benefit from 40 stores that had been liquidated by the end of
August in connection with store closing sale events and two other
stores that are in the process of being liquidated. "Our apparel
and quilting/craft categories continued to be bright spots during
October. However, the gains in those areas were more than offset by
declines in the home decorating area," said Jane Aggers, Chief
Executive Officer. Hancock Fabrics, Inc. - America's Fabric Store -
is committed to serving creative enthusiasts with a complete
selection of fashion and home decorating textiles, sewing
accessories, needlecraft supplies and sewing machines. The Company
operates 405 retail stores in 40 states and an Internet store at
www.hancockfabrics.com.
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