Lower mall traffic has resulted in lower sales at Big Dog Holdings Inc the company reported today.

Net sales for the fourth quarter ended 31 December 2002 were $35.3 million, an 11.6 per cent drop on the $40.0 million recorded in 2001. Comparable retail store sales fell 13.8 per cent for the period.

Net sales for the full year were $108.3 million, a 3.2 per cent decrease on 2001's $112.4 million. Comparable retail store sales decreased 6.3 per cent for the year.

Commenting on the preliminary results, CEO Andrew Feshbach said in a statement: "Although we started 2002 well, the latter part of the year saw consistently lower traffic at our malls resulting in lower sales.

"We are disappointed in our fourth quarter sales results. However, every step was taken to maximise income and strengthen our balance sheet. We expect similar sales trends in 2003."