SUNRISE, Fla., Nov. 8, 2007 (PRIME NEWSWIRE) -- E Com Ventures, Inc. (Nasdaq:ECMV) announced today that its wholly owned subsidiary, Perfumania Marketing, reported fiscal year 2007 3rd quarter retail sales of $50.6 million versus $47.9 million in the 3rd quarter of the prior year. On a year-to-date basis, retail sales increased 4.4% to $145.0 million from $138.9 million last year. Year-to-date comparable store sales increased 0.7% compared with a 1.8% increase in the prior year.
Michael W. Katz, President and Chief Executive Officer of E Com Ventures, Inc. said, "Our sales results for the 3rd quarter reflect the impact of the various economic pressures on the consumer. We are prepared to commence this important holiday season with an outstanding merchandise assortment and very well designed promotional programs. We are hopeful that this approach will mitigate some of the impact of this negative economic environment on our customer during the upcoming fourth quarter."
3rd QUARTER 2007 RETAIL SALES (in $000's):
FY FY FY
2007 2006 2005
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Increase Increase Increase
(Decrease) (Decrease) (Decrease)
------------------ ----------------- -----------------
Number of
Stores 292 13.6% 257 6.6% 241
3rd Quarter
Retail
Sales $ 50,591 5.6% $ 47,895 5.5% $ 45,409
Year-to-Date
Retail
Sales $144,954 4.4% $138,881 3.6% $134,108
Year-to-Date
Comparable
Store Sales 0.7% 1.8% 6.3%
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 290 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.