West 49 Inc. reports third quarter sales



    - Company achieves target for new store openings for the fiscal year -

    Toronto Stock Exchange Symbol: WXX

    BURLINGTON, ON, Nov. 9 /CNW/ - West 49 Inc. (TSX: WXX) (the "Company"),
Canada's leading action sport retailer, today reported its sales performance
for the third quarter of fiscal 2008, ended October 27, 2007. Sales for the
quarter increased 1.5% to $59.1 million from $58.2 million for the third
quarter of last year. The increase was mostly attributable to new stores
opened since the end of the third quarter of last year. Consolidated
comparable stores sales decreased 1.4%, while the Company's core West 49
banner posted comparable stores sales growth of 1.7%, compared to the third
quarter of last year.
    During the quarter, the Company opened four new stores: a West 49 store
in Langley, British Columbia, two D-Tox stores in Red Deer, Alberta and
Halifax, Nova Scotia, and a Duke's Northshore store in Toronto, Ontario. The
Company also opened a D-Tox department inside a newly expanded Amnesia store
in Brossard, Quebec during the quarter. As a result, the Company closed its
D-Tox store located in the same mall to eliminate redundancy. At the end of
the quarter, the Company was operating 133 stores compared to 125 stores at
the end of the third quarter of last year. With a new D-Tox store opened in
Oshawa, Ontario subsequent to quarter end, the Company has opened 12 new
stores year-to-date, meeting its fiscal 2008 target for opening 10 to 12 new
stores.
    "Our top line grew, but at a slower rate in the third quarter," said Sam
Baio, Chief Executive Officer of West 49 Inc. "We continued to face a
challenging retail climate in the province of Ontario. However, when excluding
Ontario, our West 49 banner's comparable store sales were up 9.0% compared to
the third quarter of last year. At our Off The Wall banner, the ongoing
transitioning to the banner's new merchandising strategy continued to have a
negative impact on our consolidated comparable store sales. Nevertheless, we
remain optimistic that once this transition is complete, the new merchandising
strategy will translate to improved results at Off The Wall and will bolster
our comparable store sales going forward."
    "We work hard to provide our customers with great merchandise at a great
value. The economic landscape however, is changing. West 49 Inc. mainly buys
and sells in Canadian dollars. With a stronger Canadian dollar we are feeling
the growing impact of cross border shopping. In response, we lowered our
average selling price on key items such as footwear. We are continuing to
partner with all of our suppliers to narrow the price gaps that exist between
us and comparable retailers in the U.S. As we continue to work on maximizing
returns from existing stores and growing our banners across Canada, we remain
focused on fulfilling the lifestyle needs of our target market customers,
primarily Canadian tweens and teens," said Mr. Baio.
    For the year-to-date, sales increased 6.9% to $142.5 million from
$133.3 million last year. Year-to-date consolidated comparable store sales
increased 0.2%, while the West 49 banner achieved comparable store sales
growth of 2.0% for the period.
    West 49 Inc.'s third quarter earnings are expected to be reported
mid-December 2007.

    About West 49 Inc.

    West 49 Inc. is a leading Canadian multi-banner specialty retailer of
apparel, footwear, accessories and equipment related to skateboarding,
snowboarding, and surfing, as well as the music industry, and fashion-forward
young women. The Company's stores, which are primarily mall-based, carry a
variety of high-performance, premium brand name and private label products
that fulfill the lifestyle needs of identified target markets, primarily
tweens and teens (ages 10 through 18). As at October 27, 2007, the Company
operated 133 stores in nine provinces, under the banners West 49, Billabong,
Off The Wall, Amnesia/Arsenic, D-Tox, and Duke's Northshore, and an online
retailer www.boardzone.com. The Company's common shares are listed on the
Toronto Stock Exchange under the symbol WXX. West 49 Inc. has approximately
64 million shares outstanding.

    Forward-looking statements

    Information in this news release that is not current or historical
factual information may constitute forward-looking information. Implicit in
this information are assumptions that, although considered reasonable by the
Company at the time of preparation, may prove to be incorrect. Readers are
cautioned that forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking information.
Accordingly, investors should not place undue reliance on forward-looking
information. The Company includes in publicly available documents filed from
time to time with securities commissions and the Toronto Stock Exchange, a
thorough discussion of the risk factors that can cause anticipated outcomes to
differ from actual outcomes. Forward-looking information is provided as of the
date of this news release, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances.





For further information:

For further information: Rhonda Allen, Director, Finance, West 49 Inc.,
(905) 336-5454 ext 224, E-mail: rallen@west49.com; Trevor Heisler, Investor
Relations, The Equicom Group Inc., (416) 815-0700 ext. 270, E-mail:
theisler@equicomgroup.com

Organization Profile

WEST 49 INC.

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