Finlay Second Quarter Sales Slide, Losses Grow
August 30, 07
Second quarter sales by Finlay have decreased to $148 million from $149.3 million on a continuing operations basis. Total sales, including sales of the Parisian store group, were $154.4 million compared with $153.6 million in the prior year.
Comparable store sales decreased 3.6 percent. The company estimates the shift of Mother's Day, coming a week earlier this year, had an approximate 3 to 4 percent negative impact on quarterly comparable store sales.
Comparable store sales for the second quarter including discontinued stores decreased 1.3 percent.
A quarterly net loss of $8.4 million, or $0.92 per share, is more than double the loss registered during the second quarter of fiscal 2006 – $4 million, or $0.44 per share.