Finlay Enterprises, Inc. said Thursday that sales for the first quarter increased 26 percent to $205.3 million, compared to $162.9 million in the comparable period of 2007.
The fiscal year 2007 sales results are on a continuing operations basis, which excludes sales from Parisian stores. Specialty jewelry stores consisting of Carlyle, Congress, and Bailey Banks & Biddle, which were acquired in November 2007, contributed sales of $77.7 million for the first quarter, as compared to $27.2 million for the same period last year. comparable store sales for the first quarter decreased 4.5 percent.
The company currently expects to report full financial results for the first quarter on May 28.
Finlay Enterprises, Inc., through its wholly owned subsidiary, Finlay Fine Jewelry corp., operates fine jewelry luxury stand-alone specialty jewelry stores and licensed fine jewelry departments in department stores throughout the United States and achieved sales of $835.9 million in fiscal 2007. The number of locations at the end of the first quarter of fiscal 2008 totaled 781, including 67 Bailey Banks & Biddle, 35 Carlyle and five Congress specialty jewelry stores.