Barbeques Galore Reports Third Fiscal Quarter Sales; 8.4% Increase in Comparable Stores in Australia; 5.3% Increase in Comparable Stores in USA.IRVINE, 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 third quarter ended October 31, 2004:
Three Months Ended
October 31,
In US$ thousands %
---------------- Increase/
2004 2003 Decrease
------ ------ --------
Net Sales
Australia (a) 24,943 24,327 +2.5%
U.S. 25,493 23,836 +7.0%
------ ------
Total net sales 50,436 48,163 +4.7%
Comparable Store Sales
Australia (in Australian $'s) +8.4%
U.S. (in US $'s) +5.3%
Nine Months Ended
October 31,
In US$ thousands %
---------------- Increase/
2004 2003 Decrease
------ ------ --------
Net Sales
Australia (a) 60,510 53,233 +13.7%
U.S. 90,954 81,858 +11.1%
------- ------- -----
Total net sales 151,464 135,091 +12.1%
Comparable Store Sales
Australia (in Australian $'s) +4.2%
U.S. (in US $'s) +11.2%
(a) Net sales in 2003 included wholesale sales in Australia prior to
the down-sizing of this division.
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 US dollar for the quarter ended October 31, 2004 was A$1=US$0.7145, compared with A$1=US$0.6693 for the corresponding quarter in 2003, representing an increase of 7% in the Australian dollar against the US dollar. In the U.S., the company relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. its store in Tarzana, Calif. during the third quarter to a larger and more prominent location. Effective November 1, 2004, Barbeques Galore acquired the two franchised stores operated in Atlanta, Ga. In Australia, in the third quarter, the company commenced trading in its expanded flagship store in Moore Park, New South Wales Moore Park is a large area of parkland in the Eastern Suburbs of Sydney, in the state of New South Wales, Australia. Moore Park is located 3 kilometres south-east of the Sydney central business district and is part of local government area of the City of Sydney. , and relocated its Morley store in Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. to larger premises. In the fourth quarter, the company plans to open a new store in Fortitude Valley, Queensland Fortitude Valley, also known simply as the Valley is a suburb of central Brisbane, Australia immediately north-east of the CBD. It is one of the hubs of Brisbane's nightlife, renowned for its nightclubs and adult entertainment. and relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. its stores in Ringwood, Victoria Ringwood is a suburb in Melbourne, Victoria, Australia. Its Local Government Area is the City of Maroondah. It is notable as the location of a Cadbury production factory, and the Eastland Shopping Centre[1]. and Launceston, Tasmania Launceston is a city in the north of the state of Tasmania, Australia, population approximately 90,000 (Greater urban and 99,100 statistical division), located at the juncture of the North Esk, South Esk, and Tamar rivers. . 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 67 stores in the U.S. and 42 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 Web site, www.bbqgalore.com, the company sells an extensive line of barbecue and fireside products and related accessories. This press 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 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 plans with regard to store openings and relocations and other "Risk Factors" as mentioned in the company's filings from time to time with the Securities and Exchange Commission. |
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