Retail Ventures (RVI) Reports Q2 Revenues
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Retail Ventures, Inc. (NYSE: RVI) announced total sales for the thirteen weeks ended August 4, 2007 increased 7.0% to $732.7 million from $684.5 million for the thirteen weeks ended July 29, 2006. The company's same store sales increased 0.3% for the comparable thirteen week period. (Consensus is $738.5 million)
The Filene's Basement store in the Downtown Crossing Boston location is undergoing complex building renovations including an inventory liquidation. Excluding this location from the Filene's Basement sales results in a 3.9% and 3.2% increase in same store sales compared to the 7.0% and 4.3% same store sales increases reported above for the respective thirteen weeks and twenty- six week periods ended August 4, 2007.
The Filene's Basement store in the Downtown Crossing Boston location is undergoing complex building renovations including an inventory liquidation. Excluding this location from the Filene's Basement sales results in a 3.9% and 3.2% increase in same store sales compared to the 7.0% and 4.3% same store sales increases reported above for the respective thirteen weeks and twenty- six week periods ended August 4, 2007.
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