Bombay Company (BBA) Misses Q1 EPS by 13c
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The Bombay Company, Inc. (NYSE: BBA) reports a Q1 loss of $0.42, 13 cents worse than estimates. Revenues were $104.6 million vs. $107.43 million consensus.
Same store sales for Bombay stores operating for more than one year decreased 10.2% for the quarter.
During the first quarter, as part of the Company's previously announced stabilization plan, Bombay closed 24 stores and opened two stores, ending the quarter with 419 stores. First quarter closings include the closing of 11 BombayKIDS stores which were part of Bombay/BombayKIDS combination stores.
Further, the Company expects to announce later today that it has entered into a $10 million term loan facility to provide additional liquidity that is secured by various of the Company's assets.
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