Bombay Stops Monthly Reporting

May 29, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on May 2006 Fort Worth, Texas-based The Bombay Co. said it will change the frequency with which it publicly reports same-store sales and total revenue to a quarterly rather than a monthly basis.

The change means that the retailer’s next sales release will be for the quarter ended July 29. In a statement, the company said shareholders will be better served by the revised release schedule as it will reduce the potential for volatility caused by monthly reporting of sales data. Monthly comparisons are often affected by calendar shifts, changes in promotional methods or cadence, and other events, so that meaningful comparisons of the retailer’s performance in the current period with its performance in a prior period cannot be made.

The change to a quarterly reporting frequency will make period-to-period comparisons more valid and will align Bombay’s reporting with the majority of publicly-traded specialty home furnishings hardlines retailer, the company said.