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Thursday, November 06, 2008
Retail Ventures, Inc. Reports Third Quarter Sales
Comtex
COLUMBUS, Ohio, Nov 06, 2008 /PRNewswire-FirstCall via COMTEX/ ----Retail Ventures, Inc. (NYSE: RVI) announced today that total sales for the thirteen weeks ended November 1, 2008 increased 2.9% to $503.5 million from $489.4 million for the thirteen weeks ended November 3, 2007. The company's same store sales decreased 3.3% for the comparable thirteen week period.
Total sales for the thirty-nine weeks ended November 1, 2008 increased 0.7% to $1.43 billion from $1.42 billion for the thirty-nine weeks ended November 3, 2007. The company's same store sales decreased 4.2% for the comparable thirty-nine week period.
Retail sales statistics are as follows: Thirteen Weeks ended ($ in thousands) November 1, 2008 November 3, 2007 $ % $ % Total Sales DSW $391,355 77.7% $367,380 75.1% Filene's Basement 112,150 22.3% 122,014 24.9% $503,505 100.0% $489,394 100.0% Comparable Sales Percentage DSW (4.1)% (3.0)% Filene's Basement (1.0)% 1.2 % (3.3)% (2.1)% Thirty-Nine Weeks ended ($ in thousands) November 1, 2008 November 3, 2007 $ % $ % Total Sales DSW $1,114,794 78.0% $1,073,095 75.6% Filene's Basement 314,781 22.0% 346,776 24.4% $1,429,575 100.0% $1,419,871 100.0% Comparable Sales Percentage DSW (5.5)% (0.5)% Filene's Basement 0.0 % 3.3 % (4.2)% 0.4 %
On January 23, 2008, Retail Ventures, Inc. disposed of an 81% ownership interest in its Value City operations. Sales for all periods presented exclude sales applicable to the Value City operations.
Retail Ventures, Inc. is a holding company whose subsidiaries, DSW and Filene's Basement, operate retail stores. DSW is a leading United States branded footwear specialty retailer operating, as of November 1, 2008, 295 shoe stores in metropolitan areas throughout the country. DSW also supplies shoes, under supply agreements, to 345 locations for other non-related retailers in the United States and operates dsw.com. Filene's Basement is an off-price retailer operating, as of November 1, 2008, 36 Filene's Basement stores in major metropolitan areas in the northeastern and midwestern United States.
SOURCE Retail Ventures, Inc.
http://www.retailventuresinc.com
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