Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SHERMAN OAKS, CA-Retailer Shoe Pavilion is expecting a third-quarter loss in the range of $100,000 to $300,000 for the period ended Oct. 1. The quarter was impacted by lower-than-expected sales and costs related to new store openings, executives say.

Net sales did increase by 28.1%, to $31.8 million. The company has not yet reported its same-store sales, though last year’s identical quarter’s year-over-year comparable gain came in a 3.7%.

During the quarter, Shoe Pavilion opened seven new stores and management expects the opening of 20 to 22 new units during the year. The locally based chain currently operates 101 stores on the West Coast and in the Southwest.

One state that the company is looking to ramp up in is Texas. With currently three stores in the northern part of the state, the company is targeting 10 more there and is in various stages of lease negotiations.

Shoe Pavilion stores offer off-price designer shoes. The company has recently increased its average store size from 18,000 sf to 20,000 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.