Barbeques Galore Reports Continued Sales Growth for Second Fiscal Quarter.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Aug. 7, 2000 Barbeques Galore Barbeques Galore is an Australian chain of retail stores specializing in barbecue grills that also has a large presence in the United States. There are 84 stores in covering all of Australia, and 75+ stores in 10 American states. Limited (Nasdaq:BBQZ) today announced total company sales for the second fiscal quarter ended July 31, 2000 increased 11.1% to US$46.0 million from US$41.4 million for the corresponding quarter last year. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in the U.S. advanced 14.7% to US$32.0 million from US$27.9 million in the prior-year period. In Australia, net sales rose 4.4% to US$14.1 million from US$13.5 million for the same period a year ago and in Australian dollars increased 18.7%. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of in the U.S. increased 4.0% for the second quarter. In Australia, same store sales increased 13.2%. For the six months ended July 31, 2000, U.S. same store sales increased 7.1% and Australian same store sales increased 9.4% over the same period a year ago. Total company net sales for the six-month period rose 13.5% to US$80.6 million from US$71.0 million in the corresponding prior-year period. U.S. net sales for the six months increased 18.6% to US$51.7 million from US$43.6 million a year ago. Net sales in Australia climbed 5.5% to US$28.9 million from US$27.4 million for the 1999 six-month period and in Australian dollars climbed 14.2%. The average exchange rate between the Australian dollar and the US dollar for the quarter ended July 31, 2000 was A$1 = US$0.59 and for the corresponding quarter in 1999, A$1 = US$0.66. The company advised that on July 1, 2000, a retail goods and services tax The Goods and Services Tax is a Value-added tax that exists in a number of countries. Please see:
During the quarter, Barbeques Galore opened two new company-owned stores. The La Mesa La Mesa (lə mā`sə), city (1990 pop. 52,931), San Diego co., S Calif., a suburb of San Diego; inc. 1912. It is a retail center and a popular residence for upper- and middle-income professionals in the San Diego area. store in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. County increases the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, store penetration to 22. The company also entered the Miami area with the opening of a store in Coral Springs. Barbeques Galore expects to report full results for the second fiscal quarter in early September. Barbeques Galore is the leading chain of specialty retail stores devoted to sales of barbecues, fireside products and related accessories. The company owns and operates 59 stores in the U.S. and 35 stores in Australia. In addition, it has 11 franchised stores in the U.S. and 49 licensed stores in Australia. Through its e-commerce Web site, www.bbqgalore.com, the company sells an extensive line of barbecue and fireside products and related accessories. |
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