Gottschalks: More Cuts to Home Textiles
June 18, 2007,
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.
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."