Nexia Holdings announced its preliminary retail sales results for its salons and income from its real estate holdings for the one-month and nine-month periods ended September 30, 2007. The final financial results will be filed in the Company’s quarterly report next month.
Nexia’s wholly owned subsidiary, Gold Fusion Laboratories which owns Black Chandelier retail operations, estimates that its retail sales totaled $47,222 for the month of September. For the nine months ended September 30th of this year, retail sales totaled $663,944, which is a significant increase of 99% compared to the same period last year.
Richard Surber, President of Nexia Holdings, Inc., stated, “Jared Gold and Black Chandelier’s latest collections, made from 100% renewable, eco- friendly bamboo and breathable combinations of lightweight cottons, are attracting customers for their beautiful appearance and wearability. With this collection, we have the opportunity to create a leadership position in the design, manufacture and marketing of bamboo apparel in the U.S. We expect the positive reactions to our new collections to continue throughout the coming holiday season. We encourage every consumer to check out these new lines and the unique fashion sense that Jared brings to the entire Black Chandelier label.”
He continued to add, “Our current challenge is making sure that we increase our product density in all of our Black Chandelier stores. Although sales are moving in a positive direction, my team has identified the primary challenge to optimizing sales – creating much higher product density. In an effort to resolve this issue, we are vigorously seeking to buy apparel from reputable manufacturers whose merchandise matches the Black Chandelier aesthetic and can supplement our inventory of in-house brands. Ultimately, a rounding-out of our product lines will enable us to attract a wider demographic and leverage cross- marketing opportunities to accelerate sales. I estimate that Black Chandelier will need to obtain about $500,000 worth of product (at cost) before Thanksgiving to hit our holiday retail projections. Black Chandelier is continuing its search for investors, banks, factors and other sources of financing to reach its goals.”
The company’s majority owned subsidiary, Landis LLC which operates Landis Lifestyle Salon, estimated that its retail sales increased 45% to $1,375,760 for the nine months ended September 30, 2007 compared to $945,905 for the same period during 2006. Landis also estimates total sales of $183,432 for the month of September 2007, representing another record month for Landis system wide sales.
Surber commented, “I am pleased with the continued monthly sales improvements reported by Landis salon operations, including the recent acquisition of Reflections. We are stepping up our efforts to locate additional salons that can be acquired under the Landis Lifestyle/AVEDA(TM) umbrella. Nexia’s recent acquisition of Green Endeavors, Ltd. (OTC: GRNE – News) has bolstered Landis’ visibility and access to capital. GRNE will be rolling out its expansion plans for Landis over the coming months.”
Nexia’s total consolidated revenues for the month of September are estimated at $243,321, and the Company’s consolidated revenues for the first nine months of 2007 are estimated at $2,270,430, which is a 54% increase compared to the same period in 2006.
Let us hear your thoughts: Nexia Holdings Message Board
