Barbeques Galore Reports First Fiscal Quarter Sales.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--May 9, 2001 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 that total company sales for the first fiscal quarter ended April 2001, fell 4.7% to $32.4 million from $33.9 million 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 5.4% to $20.8 million from $19.8 million in the corresponding prior year period. In Australia, net sales declined 18.7% to $11.5 million from $14.2 million for the same period a year ago, and in Australian dollars fell 3% to A$22.4 million from A$23.1 million, respectively. 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. fell 5.0% for the first quarter. For the Australian stores, comparable sales decreased 2.8%. The average exchange rate between the Australian dollar and the U.S. dollar for the quarter ended April 30, 2001 was A$1 = US$0.5135, which is a 15.6% decline in the Australian dollar from the corresponding quarter last year, where A$1 = US$0.6084. During the first quarter, Barbeques Galore opened one new company store in Cupertino, Calif., near San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . During the period, the company also refurbished two of its older U.S. stores and since the end of the quarter has relocated one store in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . 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:
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 65 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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