Bombay Sales Decline Delays Store OpeningsThe Bombay Company Inc. will delay new store openings as a result of poor sales during the first half of the year.
The Fort Worth, TX, company said Aug. 18 that revenue for the second quarter ended July 31 declined 6 percent to $122.5 million. Same-store sales decreased 18 percent.
In the first half of the year, revenue declined 1 percent to $246.1 million while same-store sales dropped 13 percent compared with the year-ago period.
"In light of results of the first half, we have decided to delay the opening of up to 10 stores for 2004," said James D. Carreker, chairman/CEO of Bombay.