Gottschalks: More Cuts to Home Textiles

Gottschalks continues to downsize home textiles in its merchandise mix, "shifting dollars so that what would have been a textiles inventory might be shifted to housewares or gift items," said president and ceo Jim Famalette during the 73-unit department store operator's first-quarter earnings call.

The retailer reported a net loss of $4.7 million for the quarter, vs. a $4.0 million loss one year ago. Sales fell 1.2% to $141.8 million, while comps were off 0.8%.

Gottschalks said May comp-store sales fell 3.8% and overall sales dropped 5.1% to $46.4 million.

"Despite a slowing housing market," Famalette noted strength in the furniture and mattress categories, where sales were basically even with the first quarter of 2006.

On the flip side, Famalette pointed out "the most difficult businesses" for the period included top-of-bed "and items such as that."

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HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

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