During the quarter, the company opened five new stores and closed one unit. The company will attempt to renegotiate lower rents or closures for underperforming stores, said Gary R. Rada, president and CEO.
"Anything we'd be doing with store closings would be in conjunction with the end of lease terms," Rada said.
Plans are still being finalized for 2007, but Rada predicted opening "few, if any, new stores." The chain currently has 192 stores in 20 states.
Stores also are downsizing the gift area, which sells candles and frames, to focus more on licensed product, he said.
The company posted sales of $57.0 million for the quarter ended April 29, up 2.2% percent from the $55.7 million reported in 2005. Comparable-store sales declined 0.3% from the prior period last year. Net income for the first quarter was $112,000, compared with a net income of $364,000 for the same period last year.
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