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Home > Investors > News Releases > 2003 >Liquidation World Announces Third Quarter Revenue
Calgary, July 10, 2003
Liquidation World Inc. (LQW – TSX) announces revenue for the Third Quarter, the thirteen weeks ended July 6, 2003, totaled $42.6 million, consistent with $42.4 million during the corresponding period in 2002.
On a cumulative basis, revenue for the first three quarters of 2003 totaled $130.6 million, a 1% decrease from $132.0 million during the 39 weeks ended July 7, 2002.
Complete financial results of the third quarter of the 2003 fiscal year will be announced in August 2003.
Liquidation World recently opened two outlets and closed one in Ontario. The outlets opened in Paris and Blenheim extends Liquidation World’s market presence and brings the exciting, bargain hunting shopping experience to new markets without significantly increasing operation costs. Existing Liquidation World outlets in the geographic proximity are expected to experience very little cannibalization of sales from the new outlets. The Barrie location was closed due to the expiry of the lease.
Liquidation World Inc. offers a uniquely diversified menu of solutions for organizations with asset recovery issues. Services include auctions, reverse logistics and processing, store closure sales management, turnaround consulting, and retail liquidations of consumer merchandise through 97 outlets across North America. Liquidation World solves asset recovery problems, in a professional manner, for the financial services industry, insurance companies, manufacturers and other organizations. Liquidation World opened its first retail outlet in 1986 and is now the largest liquidator in Canada, with more than 1,600 employees in outlets and offices across Canada and the United States.
For more information, please contact:
Mr. Darren Gillespie, Senior Executive Vice President & Co-C.E.O.
E-mail: darreng@liquidationworld.com
Website: www.liquidationworld.com
Telephone (604) 589-7111, ext. 223
Fax: (604) 583-2255
Mr. Andrew Searby, C.A. Chief Financial Officer
E-mail: investorinfo@liquidationworld.com
Website: www.liquidationworld.com
Telephone (403) 250-1222
Fax: (403) 291-1306