Barbeques Galore Limited (Nasdaq:BBQZ) today announced total company sales for the second fiscal quarter ended July 31, 2000 increased 11.1% to US$46.0 million from US$41.4 million for the corresponding quarter last year. Net sales in the U.S. advanced 14.7% to US$32.0 million from US$27.9 million in the prior-year period. In Australia, net sales rose 4.4% to US$14.1 million from US$13.5 million for the same period a year ago and in Australian dollars increased 18.7%.
Same store sales in the U.S. increased 4.0% for the second quarter. In Australia, same store sales increased 13.2%.
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For the six months ended July 31, 2000, U.S. same store sales increased 7.1% and Australian same store sales increased 9.4% over the same period a year ago.
Total company net sales for the six-month period rose 13.5% to US$80.6 million from US$71.0 million in the corresponding prior-year period. U.S. net sales for the six months increased 18.6% to US$51.7 million from US$43.6 million a year ago. Net sales in Australia climbed 5.5% to US$28.9 million from US$27.4 million for the 1999 six-month period and in Australian dollars climbed 14.2%.
The average exchange rate between the Australian dollar and the US dollar for the quarter ended July 31, 2000 was A$1 = US$0.59 and for the corresponding quarter in 1999, A$1 = US$0.66.
The company advised that on July 1, 2000, a retail goods and services tax was introduced in Australia and the previously applied wholesale sales tax was abolished. In order to make proper comparisons for reporting purposes, the wholesale sales tax on Australian sales has been removed from the July 1999 sales and the sales for July 2000 do not include the goods and services tax.
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By GlobalDataDuring the quarter, Barbeques Galore opened two new company-owned stores. The La Mesa store in San Diego County increases the Southern California store penetration to 22. The company also entered the Miami area with the opening of a store in Coral Springs. Barbeques Galore expects to report full results for the second fiscal quarter in early September.
Barbeques Galore is the leading chain of specialty retail stores devoted to sales of barbecues, fireside products and related accessories. The company owns and operates 59 stores in the U.S. and 35 stores in Australia. In addition, it has 11 franchised stores in the U.S. and 49 licensed stores in Australia. Through its e-commerce Web site, www.bbqgalore.com, the company sells an extensive line of barbecue and fireside products and related accessories.
