BRIEF: Gottschalks reports sales dip in September

Oct 09, 2008 (The Fresno Bee - McClatchy-Tribune Information Services via COMTEX) -- GOT | Quote | Chart | News | PowerRating -- Gottschalks Inc. reported today that its same-store sales for September fell 11.8% compared with the same month last year, as the Fresno-based department store chain battled a weak economy.

Gottschalks has seen same-store sales, or sales at stores open at least a year, fall for the past 19 months.

Total sales for the five-week period fell 13.2% to $45.8 million, compared with the same period last year, the company reported. Total sales for 2008 through the end of September fell 10.6% to $341.9 million, compared with the same period in 2007. Gottschalks reported it operated one less store for the month and year-to-date periods compared to last year.

Jim Famalette, Gottschalks chairman and chief executive, said in a statement that in light of the worsening economy, "we are seeing the consumer continue to be cautious and, like most retailers, this has further impacted our customers' spending levels."

The company reduced comparable store inventory in September by 6.1% compared with the same period last year, Famalette said.

Check fresnobee.com for further updates and The Fresno Bee tomorrow for full coverage.

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