Finlay Ends Third Quarter With Loss
November 29, 07
Finlay Enterprises third quarter sales increased 4.1 percent to $141.9 million. Comparable store sales increased 1.6 percent. The figures exclude from continuing operations the results from discontinued Macy's, Belk's and Parisian stores. Specialty jewelry stores Carlyle and Congress contributed sales of $23.6 million in the quarter. Until recently, Finlay focused on operating fine jewelry departments in The quarter ended with a net loss of $7.5 million, compared to a loss from continuing operations of $8.4 million. Results from operations before depreciation and amortization expenses (EBITDA) totaled a loss of $5.2 million, compared to a loss of $4.3 million in the prior year period. In the first nine months of the fiscal year, Finlay’s sales increased 5.3 percent to $452.8 million and comparable store sales increased 2.1 percent. Yet it reported a loss of $23.7 million. EBITDA for the nine months totaled a loss of $8.5 million, compared to a loss of $5.8 million in the prior year period.