Exhibit 99.1
Company Contact:
Michael W. Katz
President and
Chief Executive Officer
Perfumania Holdings, Inc.
631-866-4156
PERFUMANIA HOLDINGS, INC. REPORTS PERFUMANIA RETAIL SALES FOR 1st
QUARTER OF FISCAL YEAR 2010
Bellport, NY May 5, 2010—Perfumania Holdings, Inc. (NASDAQ: PERF) announced today that Perfumania, one of its wholly-owned subsidiaries which operates specialty retail fragrance stores throughout the United States and Puerto Rico, reported fiscal year 2010 total 1st quarter retail sales of $52.0 million versus $46.6 million in the 1st quarter of the prior year. For the month ended May 1, 2010 (fiscal April 2010) and 1st quarter ended May 1, 2010, comparable store sales increased by 4.5% and 7.4%, respectively. Comparable store sales measure sales from stores that have been open for one year or more. We exclude stores that are closed for renovation from comparable store sales from the month during which renovation commences until the first full month after reopening.
Michael W. Katz, President and Chief Executive Officer said, “We are pleased that we are making progress on driving top line sales while maintaining reasonable gross margins.”
PERFUMANIA APRIL AND 1st QUARTER RETAIL SALES (in $000’s):
| | | | | | | | | | | | | | | | | | |
| | | FY
2010 | | | FY
2009 | | | FY
2008 | |
| | | | | Increase
(Decrease) | | | | | Increase
(Decrease) | | | | | Increase
(Decrease) | |
Number of Stores, end of QTR | | | 367 | | 0.5 | % | | | 365 | | 16.6 | % | | | 313 | | | |
1st Quarter Total Retail Sales | | $ | 51,962 | | 11.4 | % | | $ | 46,636 | | — | | | $ | 46,657 | | | |
1st Quarter Comparable Store Sales | | | | | 7.4 | % | | | | | (9.2 | %) | | | | | 3.1 | % |
April Comparable Store Sales | | | | | 4.5 | % | | | | | (8.1 | %) | | | | | 7.9 | % |
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This press release may include information presented which contains forward-looking information, including statements regarding the strategic direction of the Company. Some of these statements, including those that contain the words “anticipate,” “believe,” “plan,” “estimate,” “expect,” “should,” “intend,” and other similar expressions, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by those forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are our ability to further integrate and achieve synergies between the Perfumania and Model Reorg businesses, our ability to service our obligations, our ability to comply with the covenants in our senior credit facility, general economic conditions including a decrease in discretionary spending by consumers, competition and the ability to raise additional capital to finance our expansion. Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended January 30, 2010, in the section entitled “Risk Factors.”
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