Liquidation World says quarterly sales fell 10.8 per cent compared with year ago

Published Thursday January 8th, 2009

THE CANADIAN PRESS

BRANTFORD, Ont. - Liquidation World Inc. (TSX:LQW) said Thursday that sales in its latest quarter fell 10.8 per cent compared with a year ago.

The retailer reported revenue from continuing operations of $47.1 million for the 13 weeks ended Jan. 4, down from $52.8 million during same period a year ago.

Same store sales in the quarter fell 4.3 per cent.

"After recording reasonably strong comparative revenue in October and November, sales faltered in December as many mainstream retailers lured shoppers with aggressive markdowns prior to Christmas and consumers in general took a more cautious approach to holiday spending," LWI chairman and interim president and CEO Craig Graham said.

Complete financial results for the quarter will be released in February.

Liquidation World has 98 stores in Canada and the United States.

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