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Article: Garden Ridge showing best comps in years.(Brief Article)
- Article from:
- Home Textiles Today
- Article date:
- August 2, 2004
CopyrightCOPYRIGHT 2004 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON -- Comp sales at Garden Ridge Corporation increased 15 percent versus July 2003; the highest comp-store increase in over four years. The second quarter finished with a 3 percent cutup, the first quarter with a positive increase since 2000, stated the company.
"Our customers responded extremely well to promotions of summer merchandise, our expansion into furniture and house-wares, and our early receipts of fail and Halloween merchandise," said Jack Lewis, CEO of Garden Ridge.
The company also secured a seasonal increase in its DIP (debtor-in-possession) financing from its lenders. This additional financing will be used to build up inventory for ...