Despite expecting a slower holiday season than originallyanticipated, the company is reducing its promotional activity,holding a major sale only on Black Friday rather than the entireThanksgiving weekend.
"We are guarded in our outlook," predicting a low single-digitcomp-store increase, said Michael Rayden, CEO. However, "Novembersales are encouraging."
Shoppers have limited spending dollars, and without a compellingfashion item, have chosen to spend them on other items. Still, netsales increased 13% to $260.9 million from $230.5 million.Comparable store sales rose 4%, with a 17% increase at its Justicestores and a 1% increase for Limited Too. Net income for thequarter was $13.0 million, compared with net income of $19.0million for the 2006 period.
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