Barbeques Galore (NASDAQ:BBQZ)
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Barbeques Galore Limited (Nasdaq:BBQZ) today reported
sales for the first fiscal quarter ended April 30, 2005:
-0-
*T
Three Months
Ended
April 30,
in US$ thousands %
---------------- Increase/
2005 2004 Decrease
Net Sales ------ ------ --------
Australia 18,969 18,345 +3.4%
U.S. 27,608 25,432 +9.1%
------ ------
Total net sales 46,577 43,778 +6.7%
Comparable Store Sales
Australia (in Australian $'s) -4.5%
U.S. (in US $'s) +4.8%
*T
The average exchange rate between the Australian dollar and the
U.S. dollar for the fiscal quarter ended April 30, 2005 was
A$1=US$0.7798 and A$1=US$0.7571 for the corresponding quarter in 2004,
representing an increase of 3% in the Australian dollar against the
U.S. dollar.
As previously announced, the reporting of the company's full
financial results for the year ended January 31, 2005, is being
delayed to complete a review of the accounting treatment of leases and
other matters. The review, being undertaken in consultation with its
independent auditors, KPMG, is similar to that being carried out by
other companies in the retail industry.
Barbeques Galore is the leading chain of specialty retail stores
devoted to sales of barbecues, backyard accents, fireside products and
related accessories. The company now owns and operates 69 stores in
the U.S. and 43 stores in Australia. In addition, it has 7 franchised
stores in the U.S. and 48 licensed stores in Australia. Through its
U.S. e-commerce Web site, www.bbqgalore.com, the company sells an
extensive line of barbecue and fireside products and related
accessories.