USA: Record Second-Quarter 2000 Results For Big Dog Holdings
Big Dog Holdings Inc (Nasdaq:BDOG), a developer, marketer and retailer of branded, lifestyle consumer products, today reported the financial results for the second quarter ended June 30, 2000. Financial Results For the quarter ended June 30, 2000, net income increased 41 per cent to a second-quarter record of $1,038,000, as compared with $734,000 for the second quarter 1999. Earnings per share increased 50 per cent to $.09, as compared with $.06 for the same period last year. Net sales increased to $26,205,000 as compared with $24,093,000 in the second quarter 1999. The increase in net income is attributable to improvement in operating efficiencies and increased revenue, partially offset by a small decrease in gross margin. At the close of the quarter, the company had 199 retail stores, representing a net increase of 18 stores since June 30, 1999. Notably, the company's comparable stores sales growth was 2.1 per cent for the second quarter. Commenting on the results, CEO Andrew Feshbach stated: "We believe we are in a strong position with our fall merchandise and look forward to the second half of the year, which has always been the strongest and most profitable for our company."
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