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Friday, Mar 29, 2024

Shoe Pavilion Sales Increase, Net Falls

Shoe Pavilion Inc. said today that it incurred a net loss of $318,000 or $0.03 per diluted share, for the third quarter ended Sept. 30. The loss compares to net income of $293,000 or $0.04 per share in the like period a year ago. Shoe Pavilion’s sales increased 28 percent for the third quarter to $31.8 million versus $24.8 million for the third quarter of 2005. Comparable store sales rose 3.7 percent in the quarter. Shoe Pavilion executives said the unseasonably warm fall weather dampened sales of fall merchandise. The company also noted that its operating margins were affected by the increased number of newly opened stores in the quarter. During the third quarter, Shoe Pavilion opened seven stores and closed two, bringing its store total as of Sept. 30 to 100. For the fourth quarter, Shoe Pavilion gave guidance of sales in the range of $38 million to $41 million and earnings per share in the range of $0.06 to $0.10.

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