Little Switzerland, Inc., the Caribbean-based specialty retailer, reported that total sales for its fourth quarter, ended May 25, increased 0.4% from the corresponding period last year. Comparable store sales fell 9.2% for the quarter.
“Our fourth quarter results were adversely impacted by reductions in vacation travel in two of our large vacation markets,” said Robert L. Baumgardner, president and CEO. The Company is continuing to lessen the impact of this trend by improving gross margin performance while reducing overhead expenses. Our Alaska market experienced strong sales results in May and we expect this trend to continue throughout this summer cruise season.”
Little Switzerland, Inc. is a specialty retailer of brand name watches, jewelry, crystal, china, and accessories, operating 21 stores on five Caribbean islands, Key West, and Alaska. The company’s primary market consists of vacationing tourists attracted by free port pricing, duty-free allowances, and a variety of quality merchandise.