Gottschalks April same-store sales drop 3.9 percent

FRESNO, Calif.—Gottschalks Inc., a regional department store chain, said Thursday its April same-store sales slipped 3.9 percent due to ongoing textiles sales weakness.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Total monthly sales dropped 4.9 percent to $38.3 million from $40.3 million.

For the year to date, same-store sales fell 10.3 percent, while total sales declined 11.8 percent to $125.1 million.

The company said it has concentrated on lowering expenses and managing inventory as it contends with challenging economic conditions. The retail sector, along with many other industries, has been pressured as consumers tighten spending due to eroding credit, the continued housing downturn, rising food and gas costs and recession fears.

Gottschalks runs 59 department stores and three specialty apparel stores in six Western states.

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