Shoe Pavilion Inc. reported preliminary sales for the third quarter ended Sept. 30 increased 28.1 percent to $31.8 million versus $24.8 million for the third quarter ended Oct. 1, 2005. The chain saw a 3.7 percent increase in comparable store sales compared to the like period in 2005. Shoe Pavilion said it expects a loss in the range of $100,000 to $300,000 or $0.01 to $0.03 per diluted share for the quarter compared to income of $293,000 or $0.04 per share for the prior year quarter. “Our performance for the third quarter was not in line with our expectations since comparable store sales, while good, came in below our expectations and total net sales were lower than expected, particularly in the month of September,” said Dmitry Beinus, chairman and CEO. Beinus added that the quarter’s results were also impacted by expenses connected with the opening of seven stores. The company plans to open 20 to 22 stores in fiscal 2006.
