Barbeques Galore Reports Third Fiscal Quarter Sales.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Nov. 8, 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 total company sales for the third fiscal quarter ended October 31, 2002 increased 2.7% to $43.1 million from $42.0 million for the corresponding quarter 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 0.8% to $21.4 million from $21.2 million in the prior-year period. In Australia, net sales increased 4.6% to $21.7 million from $20.8 million in the same period a year ago. 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 , sales decreased 1.8%. 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 2.1% for the third quarter. In Australia, same store sales increased 7.5%. Total company net sales for the nine-month period increased 6.1% to $128.5 million from $121.0 million in the corresponding prior-year period. U.S. net sales for the nine months increased 5.3% to $80.5 million from $76.4 million a year ago. Net sales in Australia increased 7.5% to $48.0 million from $44.6 million for the 2001 nine-month period, and in Australian dollars were 1.8% higher than the same period a year ago. For the nine months ended October 31, 2002, U.S. same store sales increased 2.3% and Australian same store sales increased 2.7% over the same period a year ago. The average exchange rate between the Australian dollar and the US dollar for the quarter ended October 31, 2002 was A$1 = US$0.5464 and for the corresponding quarter in 2001, A$1 = US$0.5133, representing an 6.4% appreciation in the Australian dollar. During the quarter, Barbeques Galore closed two company-owned stores, one in Fredericksburg, Virginia Fredericksburg is an independent city in the U.S. Commonwealth of Virginia, 50 miles south of Washington, D.C., and 55 miles north of Richmond, Virginia. As of the 2000 census, the city had a population of 19,279. and the other in Greensboro, North Carolina “Greensboro” redirects here. For other uses, see Greensboro (disambiguation). Greensboro, North Carolina (IPA: [ɡɹiːnsbʌɹəʊ]) is a city in the U.S. state of North Carolina. . In Australia, the Saxon heater outlet in Tasmania was closed and incorporated into the company's Barbeques Galore store in Hobart. Barbeques Galore expects to report full financial results for the third fiscal quarter in early December. 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 63 stores in the U.S. and 33 stores in Australia. In addition, it has 9 franchised stores in the U.S. and 50 licensed stores in Australia. Through its U.S. 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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