Barbeques Galore Reports Sales for Fiscal 2002 Fourth Quarter and Year.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Feb. 12, 2002 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 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. for its fourth fiscal quarter ended Jan. 31, 2002 advanced 1.8% to $22.0 million from $21.6 million in the prior-year period. In Australia, net sales decreased to $28.5 million from $30.4 million for the same period a year ago, and in Australian dollars 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 , fell to A$55.2 million, from A$56.2 million. Total company net sales for the fourth fiscal quarter decreased 2.9% to $50.5 million from $52.0 million for the corresponding quarter last year. 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. decreased 4.7% for the fourth quarter. In Australia, same store sales increased by 2.2%. No stores were opened either in the U.S. or Australia during the quarter, and one U.S. store and one Australian Australian pertaining to or originating in Australia. Australian bat lyssavirus disease see Australian bat lyssavirus disease. Australian cattle dog a medium-sized, compact working dog used for control of cattle. store, were closed. For the 2002 fiscal year, net sales increased 5.5% in the U.S. to $98.5 million from $93.4 million a year ago. Net sales in Australia decreased 7.5% to $73.1 million from $79.0 million for last year, and in Australian dollars, rose 1.5% to A$142.1 million from A$140.0 million. Total company net sales for the twelve-month period fell 0.4% to $171.6 million from $172.4 million last year. For the fiscal year ended January 31, 2002, U.S. same store sales decreased 2.6% over the same period a year ago, and Australian same store sales decreased 0.2%. During the year, 4 new stores were opened in the U.S., with two closures. In Australia no new stores were opened, with one closure. The average exchange rate between the Australian dollar and the US dollar for the quarter ended January 31, 2002 was A$1 = US$0.5162, representing a 4.6% decline in the Australian dollar from the corresponding quarter last year, when A$1 = US$0.5413. 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 66 stores in the U.S. and 34 stores in Australia. In addition, it has 9 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 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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