On the retail side of our business, the 46 Thomasville stores that we have operated for more than 15 months showed a same-store sales increase of 17% this quarter. This is the fifth straight quarter of double digit comp store growth in our own Thomasville stores. Part of this increase and the marketing spend mentioned earlier was directed to the Thomasville brand and is helping fuel the momentum of the business.Focusing for a moment on what has been the high occupancy cost of some of these stores, we have said that as their leases expire we will evaluate our options for each store on a case-by-case basis. In most cases, we will relocate and resize these stores to achieve a more favorable cost structure. For example, during the quarter we held close-out sales in preparation for three store closings as these stores did not meet our performance criteria. One of these stores will be relocated in the Dallas market as we announced earlier. We will open an additional new Thomasville store in Chicago during the second quarter and continue to look for the right store opening opportunities throughout the remainder of the year.
Furniture Brands International CEO Discusses Q1 2011 - Earnings Call Transcript
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