SUNRISE, Fla., Aug. 9, 2007 (PRIME NEWSWIRE) -- E Com Ventures, Inc. (Nasdaq:ECMV) announced today that its wholly-owned subsidiary, Perfumania Marketing, reported fiscal year 2007 2nd quarter retail sales of $51.9 million versus $48.8 million in the 2nd quarter of the prior year. On a year-to-date basis, retail sales increased 3.7% to $94.4 million from $91.0 million last year. Year-to-date comparable store sales decreased 0.7% compared with a 0.8% increase in the prior year.
Michael W. Katz, President and Chief Executive Officer of E Com Ventures, Inc. said, "Our sales results for the 2nd quarter reflect the continuing impact of various negative influences on the retail environment. In addition, as in our 1st quarter, our store remodel program, which is an essential part of our long-term growth plan resulted in less selling days for the stores being remodeled and negatively influenced aggregate 2nd quarter retail sales."
2nd QUARTER 2007 RETAIL SALES (in $000's):
FY FY FY
2007 2006 2005
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Increase Increase Increase
(Decrease) (Decrease) (Decrease)
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Number of Stores 276 13.6% 243 3.4% 235
2nd Quarter
Retail Sales $51,926 6.4% $48,815 (0.1%) $48,863
Year-to-Date
Retail Sales $94,363 3.7% $90,986 2.6% $88,699
Year-to-Date
Comparable Store
Sales (0.7%) 0.8% 6.2%
Perfumania Marketing, the nation's largest perfumery chain, is the leading specialty discount retailer of a wide range of brand name and designer fragrances with approximately $230 million in annual retail sales. The Company operates a chain of approximately 275 retail stores nationwide.
This press release may include information presented which contains forward-looking information, including statements regarding the strategic direction of the Company Some of these statements, including those that contain the words "anticipate," "believe," "plan," "estimate," "expect," "should," "intend," and other similar expressions, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements of those of our industry to be materially different from any future results, performance or achievements expressed or implied by those forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are our ability to service our obligations, our ability to comply with the covenants in our credit facility, general economic conditions including a decrease in discretionary spending by consumers, competition, changes in or the lack of anticipated changes in the regulatory environment in various countries, the consummation of the previously announced proposed merger with Model Reorg, Inc., the ability to raise additional capital to finance expansion, the risks inherent in new product and service introductions and the entry into new geographic markets and other factors included in our filings with the Securities and Exchange Commission.
Perfumania is a trademark of Perfumania, Inc. All other trademarks are the property of their respective owners.