Bombay Company (fka BBOA)

[sarals]

same store sales up 30%

FORT WORTH, Texas, Apr 9, 2003 /PRNewswire-FirstCall via COMTEX/ -- The Bombay Company, Inc. (BBA, Trade) reported today that same store sales for stores open more than one year increased 30% for the five-week period ended April 5, 2003. Total revenue increased 36% to $47.9 million compared to $35.3 million for the five-week period ended April 4, 2002. Revenue from non-store activity, including Bailey Street Trading Company, International, Mail Order and Internet, amounted to 9% of total revenue for the period compared to 7% for the same period last year.

For the nine weeks ended April 5, 2003, same store sales increased 28% and total sales increased 35% to $82.1 million compared to $60.9 million for the corresponding period of the prior year. Revenue from non-store activity represented 8% of total revenue for the nine weeks compared to 6% last year.

Sales continue to be favorably impacted by strong flow of product, better inventory position, particularly in furniture, and more effective marketing during the month compared to last March when same store sales were down 11%. The strongest increases occurred in the furniture category with wall decor and accessories also experiencing double-digit sales growth. All regions of the United States and Canada experienced strong double-digit same store sales increases.

Based upon continued strong sales and leveraging of overhead costs, the Company currently estimates results for the first quarter to be in the range of a $.04 to $.06 loss per share compared to previous guidance of an $.08 to $.10 loss per share. The Company expects same store sales for the quarter to be in excess of 20%. For the year, the Company is revising its earnings guidance to be in the range of $.29 to $.32 earnings per share.

The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through 424 retail outlets, specialty catalogs and the internet in the U.S. and internationally.

Any statements in this press release that may be considered forward- looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: downward pressure in retail due to economic pessimism and declining consumer sentiment; competition; seasonality; success of operating initiatives; new product development and introduction schedules; uninterrupted flow of product from overseas sources; acceptance of new product offerings including children's merchandise; inherent safety of product offerings; advertising and promotional efforts; adverse publicity; expansion of the store chain; availability, locations and terms of sites for store development; ability to renew leases on an economic basis; changes in business strategy or development plans; availability and terms of borrowing or capital for operating purposes; labor and employee benefit costs; ability to obtain insurance at a reasonable cost; reliance on technology; security of the technological infrastructure; changes in government regulations; risks associated with international business; potential travel or import restrictions due to communicable diseases; terrorism; war or the threat of war; regional weather conditions; hiring and retention of key management personnel and other risks and uncertainties contained in the Company's 2001 Annual Report on Form 10-K and other SEC filings as they occur. The Company undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof as a result of new information, future events or otherwise.

SOURCE The Bombay Company, Inc.


Elaine D. Crowley, Sr. Vice President, Chief Financial Officer
of Bombay Company, Inc., [phone]

http://www.bombaycompany.com

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