Finlay Comparable Store Holiday Sales Fall 5.9%

Finlay Enterprises’ holiday season sales increased 26.9 percent to $349.1 million from $275 million in the same two-month period in 2006. However, the company’s comparable store sales for the November-December period dropped 5.9 percent, on a continuing operations basis.

Year to date, sales on a continuing operations basis for the 11-month period increased 13.7 percent to $801 million. Comparable store sales for the 11-month period decreased 1 percent.

The company is forecasting total 2007 sales in the range of $835 million to $845 million, as well as a net loss per share of $0.90 to $1.00.

Finlay acquired Baily, Banks & Biddle from Zale in early November. Although the acquisition and its accompanying figures were not mentioned in the earnings release, it may explain the sharp discrepancy between overall sales and comparable store sales figures.