Barbeques Galore Reports First Fiscal Quarter Sales; 4.8% Increase in Comparable Stores in the U.S.; 4.5% Decrease in Comparable Stores in Australia.IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif. -- 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 reported sales for the first fiscal quarter ended April 30, 2005:
Three Months
Ended
April 30,
in US$ thousands %
---------------- Increase/
2005 2004 Decrease
Net Sales ------ ------ --------
Australia 18,969 18,345 +3.4%
U.S. 27,608 25,432 +9.1%
------ ------
Total net sales 46,577 43,778 +6.7%
Comparable Store Sales
Australia (in Australian $'s) -4.5%
U.S. (in US $'s) +4.8%
The average exchange rate between the Australian dollar Noun 1. Australian dollar - the basic unit of money in Australia and Nauru dollar - the basic monetary unit in many countries; equal to 100 cents and the U.S. dollar for the fiscal quarter ended April 30, 2005 was A$1=US$0.7798 and A$1=US$0.7571 for the corresponding quarter in 2004, representing an increase of 3% in the Australian dollar against the U.S. dollar. As previously announced, the reporting of the company's full financial results for the year ended January 31, 2005, is being delayed to complete a review of the accounting treatment of leases and other matters. The review, being undertaken in consultation with its independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. , KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , is similar to that being carried out by other companies in the retail industry. Barbeques Galore is the leading chain of specialty retail stores devoted to sales of barbecues, backyard accents, fireside products and related accessories. The company now owns and operates 69 stores in the U.S. and 43 stores in Australia. In addition, it has 7 franchised stores in the U.S. and 48 licensed stores in Australia. Through its U.S. e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. Web site, www.bbqgalore.com, the company sells an extensive line of barbecue barbecue [West Indian or South American], in the United States, traditionally an open-air gathering, political or social, in which meats are roasted whole over a pit of embers and food and drink are liberally enjoyed. and fireside products and related accessories. |
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