Barbeques Galore Reports Seventh Consecutive Quarter U.S. Double-Digit Same-Store Sales; Australia Same-Store Sales Also Up Strongly in the All-Important Fourth Quarter.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Feb. 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. Ltd. (Nasdaq:BBQZ) today announced that total company sales for the fourth quarter ended Jan. 31, 2000, increased 16.9 percent to US$55.5 million from US$47.5 million in the fourth quarter of 1999. 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. climbed 32.8 percent to US$18.4 million from US$13.9 million in the 1999 fourth quarter. In Australia, net sales rose 10.4 percent to US$37.1 million (A$57.5 million) from US$33.6 million (A$53.6 million) for the same period a year ago. Same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. in the U.S. increased 14.6 percent for the fourth quarter. Australia same-store sales increased 7.2 percent in the all-important fourth quarter, which is their peak summer selling period. For the 2000 fiscal year ended Jan. 31, 2000, total company net sales for the year increased 20.5 percent to US$169.1 million, from US$140.3 million in the prior year. U.S. net sales for the year jumped 33.3 percent to US$78.9 million from US$59.2 million, a year ago. Net sales in Australia for the same period increased 11.2 percent to US$90.1 million (A$138.9 million) from US$81.0 million (A$130.0 million) for fiscal 1999. U.S. same-store sales increased 14.6 percent and 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. same-store sales increased 3.9 percent over fiscal 1999. During the quarter, Barbeques Galore opened two stores in the U.S., one company owned in Brea, Calif., and the other, a franchised store in Tustin, Calif. In Australia, during this period one licensed store was opened in Gladstone, Queensland For other uses, see Gladstone (disambiguation). Gladstone is an industrial port city located on the coast of Queensland, Australia. The city's population stands at 29,288 (2006 estimate), of whom 3. , and one company-owned store was renovated. For fiscal 2001, Barbeques Galore has signed leases or is involved in lease negotiations for 10 U.S. stores, all of which are expected to open by the end of the third quarter 2000. 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 54 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 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. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that may involve risks and uncertainties that could cause results to differ materially from those contained in these forward-looking statements. Such statements include, but are not limited to, the company's ability to open new stores and other &uot;Risk Factors&uot; as mentioned in the company's prospectus dated Nov. 7, 1997, which has been filed with the Securities and Exchange Commission and other filings from time to time. |
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