EBHI » Topics » EDDIE BAUER ANNOUNCES FOURTH QUARTER AND FULL YEAR 2006 SALES

This excerpt taken from the EBHI DEFA14A filed Jan 10, 2007.
EDDIE BAUER ANNOUNCES FOURTH QUARTER AND FULL YEAR 2006 SALES
 
Redmond, WA, January 10, 2007 — Eddie Bauer Holdings, Inc. (NASDAQ: EBHI) today announced its preliminary sales results for the fourth quarter and full year 2006.
 
For the fourth quarter ended December 30, 2006, net merchandise sales totaled $365 million, compared to $361 million in the fourth quarter of 2005. Net merchandise sales include sales from the Company’s retail and outlet stores and its direct channel, which includes its catalogs and websites, but does not include licensing revenue or revenue generated by the Company’s joint ventures. Comparable store sales for the fourth quarter of 2006 increased 4.6% from the fourth quarter of 2005. Comparable store sales in the fourth quarter of 2005 had declined 7.1% from the same period in 2004. Sales from the Company’s direct channel, which includes sales from its catalogs and websites, increased by 0.1% from the fourth quarter of 2005.
 
For the fiscal year ended December 30, 2006, net merchandise sales declined 4.5%, totaling $957 million in 2006 compared to $1,002 million in fiscal 2005. Comparable store sales for fiscal 2006 declined 2.0% from fiscal 2005, which compares to a 2.2% decrease in comparable store sales in fiscal 2005 from fiscal 2004. Sales from the Company’s direct channel, which includes sales from its catalogs and websites, decreased by 4.4% from fiscal 2005.
 
On November 13, 2006, the Company announced that it had entered into a definitive agreement for the sale of Eddie Bauer to Eddie B Holding Corp., an affiliate of Sun Capital Partners and Golden Gate Capital, for $9.25 per share in cash. The Board of Directors of the Company has unanimously determined that the merger agreement is advisable and in the best interests of the Company’s stockholders and recommends that stockholders vote for the adoption of the merger agreement at the upcoming special meeting of stockholders to be held on January 25, 2007. The transaction is expected to close in the first quarter of 2007.
 
William End, Chairman of the Board of Directors of Eddie Bauer, said, “Our fourth quarter sales results were moderately below our expectations. Our Board of Directors continues to unanimously believe that the sale to Sun Capital and Golden Gate represents the best opportunity to maximize stockholder value. The transaction will provide stockholders with fair and certain value as well as an immediate cash return.”
 
This excerpt taken from the EBHI 8-K filed Jan 10, 2007.
EDDIE BAUER ANNOUNCES FOURTH QUARTER AND FULL YEAR 2006 SALES
 
Redmond, WA, January 10, 2007 — Eddie Bauer Holdings, Inc. (NASDAQ: EBHI) today announced its preliminary sales results for the fourth quarter and full year 2006.
 
For the fourth quarter ended December 30, 2006, net merchandise sales totaled $365 million, compared to $361 million in the fourth quarter of 2005. Net merchandise sales include sales from the Company’s retail and outlet stores and its direct channel, which includes its catalogs and websites, but does not include licensing revenue or revenue generated by the Company’s joint ventures. Comparable store sales for the fourth quarter of 2006 increased 4.6% from the fourth quarter of 2005. Comparable store sales in the fourth quarter of 2005 had declined 7.1% from the same period in 2004. Sales from the Company’s direct channel, which includes sales from its catalogs and websites, increased by 0.1% from the fourth quarter of 2005.
 
For the fiscal year ended December 30, 2006, net merchandise sales declined 4.5%, totaling $957 million in 2006 compared to $1,002 million in fiscal 2005. Comparable store sales for fiscal 2006 declined 2.0% from fiscal 2005, which compares to a 2.2% decrease in comparable store sales in fiscal 2005 from fiscal 2004. Sales from the Company’s direct channel, which includes sales from its catalogs and websites, decreased by 4.4% from fiscal 2005.
 
On November 13, 2006, the Company announced that it had entered into a definitive agreement for the sale of Eddie Bauer to Eddie B Holding Corp., an affiliate of Sun Capital Partners and Golden Gate Capital, for $9.25 per share in cash. The Board of Directors of the Company has unanimously determined that the merger agreement is advisable and in the best interests of the Company’s stockholders and recommends that stockholders vote for the adoption of the merger agreement at the upcoming special meeting of stockholders to be held on January 25, 2007. The transaction is expected to close in the first quarter of 2007.
 
William End, Chairman of the Board of Directors of Eddie Bauer, said, “Our fourth quarter sales results were moderately below our expectations. Our Board of Directors continues to unanimously believe that the sale to Sun Capital and Golden Gate represents the best opportunity to maximize stockholder value. The transaction will provide stockholders with fair and certain value as well as an immediate cash return.”
 

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