Shoe Pavilion Announces First Quarter Sales
Shoe Pavilion Inc has announced a total net sales increase of 0.2 per cent to $19.4m for the first quarter ended March 31, 2001, from net sales of $19.3m for the same period last year. Comparable store net sales decreased 2.4 per cent.

West Marine Reports Sales Results For March 2001
West Marine Inc reported that net sales for the five weeks ended March 31, 2001 were $44.1m, a decrease of 10.6 per cent from net sales of $49.3m for the same period a year ago. Comparable store net sales for the five weeks decreased 12.1 per cent.

Net sales for the thirteen weeks ended March 31, 2001 were $89.7m, a decrease of 6.8 per cent from net sales of $96.3m for the same period a year ago. Comparable store net sales decreased by 8.2 per cent.

John Edmondson, president and CEO of West Marine, said: "the weather in the Northeast during the month of March, combined with the economic slowdown, adversely affected our sales. We are, however, continuing to respond by adjusting our operating expenses and inventory levels accordingly."

Designs Inc Returns To Profitability In Latest Fiscal Year
Designs Inc,operator of Levi's Outlet by Designs and Dockers Outlet by Designs stores, has announced its operating results for the quarter and fiscal year ended February 3, 2001.

The company's pre-tax profit for this year was $5.5m compared to last year's pre-tax loss of $10.3m, which included charges of $6.6m related to the impairment of assets, store closings, and severance charges. The company was able to enhance its cash flow as a result of its significant tax loss carryforwards, which amounted to $35m at the end of the year.

Net income for the 53-week fiscal year ended February 3, 2001 totalled $3.2m, or $0.20 per diluted share, compared with a net loss of $12.5m, or $0.78 per diluted share, in the fiscal year ended January 29, 2000. For the quarter ended February 3, 2001, the company reported a net loss of $0.3m, or $0.02 per diluted share, versus a net loss of $13.8m, or $0.84 per diluted share, in the prior-year period.

Results for the year and quarter ended January 29, 2000 included charges of $9.9m (equivalent to $0.62 per diluted share) related to the impairment of assets, store closings, severance charges and the write-down of certain tax assets.

Total sales during Fiscal 2001 increased 1.3 per cent to $194.6m, compared with sales of $192.2m in Fiscal 2000. Sales for the fourteen-week quarter ended February 3, 2001 increased 0.6 per cent to $53.0m, compared with sales of $52.7m for the thirteen-week fourth quarter of the prior year. Comparable store sales decreased 8.9 per cent for the fourth quarter and decreased 3.8 per cent in Fiscal 2001.

"We are pleased with the company's return to profitability after several years of losses", said David A. Levin, president and chief executive officer of Designs Inc, "Our primary emphasis during the year was on reducing expenses and dramatically improving systems to position the company for improvement in gross margin dollars and better inventory management. The company's progress in these areas is encouraging and we believe that much of what was accomplished during Fiscal 2001 will benefit the company's performance in the current fiscal year."