Perfumania pulls back after a slow January

Related tags Sales Subsidiary Fiscal year

E Com Ventures has announced that its wholly owned subsidiary,
Perfumania Marketing, achieved a rebound in its sales performance
for February, following a challenging January, reports Simon
Pitman.

The company, which has stores in 36 states selling a variety of discounted perfume brands, as well as the internet portal perfumania.com, said that its retail sales reached $13.9 million in February, while comparable store sales were $13.1 million. These figures respectively represented a 2.9 per cent and 5.3 per cent increase when compared to the same month in 2004.

The figures represented a successful core month, where perfume sales traditionally center around Valentines day sales.

Michael Katz, CEO of E Com Ventures said : "We are pleased to begin the new fiscal year with such momentum."

The figures are a positive contrast to the results for the month of January, when the company announced that sales slipped 1.1 per cent, from $10.2 million in 2004, to reach $10.1 million. The results reflected poor sales from perfumania.com, with store sales reportedly increasing 1.4 per cent, up from $9.2 million to reach $9.3 million.

Results for the full year, ending January, were stronger though, reflecting good holiday trade. For the 12 months total sales were up 1.6 per cent, from $197.85 million to $200.96 million. This came despite the fact that the company reduced the number of stores by 3.9 per cent, down from 232 to 223.

The company currently offers about 175 fragrances, including its own-brand Nature's Elements as well as supplying fragrances to other retailers. Perfumania was spun off in 1999, and then bought back by E Com Ventures in May 2000 after the company it was sold to ceased operations.

Related topics Business & Financial Fragrance

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