Nexia Holdings announced its retail sales results for the Black Chandelier and Landis Lifestyle Salons operations, in addition to the income from Nexia’s real estate holdings, for the month of October 2007.
The Company’s wholly owned subsidiary, Gold Fusion Laboratories, who operates Black Chandelier retail and online stores, reported that sales have grown 8% to $57,032 compared to sales of $52,578 in October of last year. Furthermore, the reported sales figure was 21% higher than sales in September of 2007.
Richard Surber, president of Nexia Holdings, Inc., stated, “I’m very pleased to report Black Chandelier and Landis are entering the Holiday 2007 Season with strong sales momentum. October has been a pivotal month as we’ve achieved several new milestones. Within Black Chandelier, we introduced the first ‘green’ product line by Jared Gold, a daily wear apparel made from renewable, bamboo materials. In addition, we recently bolstered our inventory levels by adding $750,000 in new merchandise, and are working towards doubling that amount to maximize our sales potential and fill anticipated demand now through the end of January 2008.”
He continued to say, “Within Landis, we re-branded our newest location in Bountiful, Utah to meet increasing demand for AVEDA-compliant hair and skin care services. This new Landis location is part of our strategy to launch a national Landis franchise under our majority-owned public company Green Endeavors (OTC: GRNE). This acquisition, completed in October, will provide a number of benefits to Nexia, Landis and our current shareholders in the near future. We are on task to maximize every opportunity to bring value and expansion to Landis through Green Endeavors. Overall, with our real estate income achieving double digit growth this month over last October, Nexia is poised for very strong fourth quarter results.”
Nexia’s majority owned subsidiary, Landis LLC, operator of the Landis Lifestyle Salon, reported that retail sales have increased 50% year-over-year to $164,440 in October 2007 compared to $109,792 in October 2006. On August 1st of this year, Landis acquired Reflections Hair & Image Studio, which reported sales increased 4% to $28,189 for the month of October 2007 compared to $27,169 for the month of September 2007.
Nexia reported income from its real estate operations totaled $25,534 for the month of October 2007, which is a substantial 103% increase compared to $12,578 in October of last year and up 102% from $12,667 reported in September of last year.
The Company’s total revenues, including all subsidiaries, increased 57% to $275,539 in the month of October 2007 compared to total revenues of $174,948 reported in October 2006.
Let us hear your thoughts: Nexia Holdings Message Board