Nexia Holdings, Inc., a diversified holding company with operations in real estate, health & beauty and the fashion retail industry, announced today its record net retail sales results (unaudited) for Black Chandelier and Landis Lifestyle Salons for the month ended April 30, 2007 and total revenue, including income from its real estate holdings, for the first four months of 2007.
In the first four months of 2007, Black Chandelier reported net retail revenues increased 329% to $338,821 from $78,904 reported in the first four months of 2006. Retail sales for Black Chandelier include four retail stores and online sales in 2007. During the first four months of 2007, four retail locations were operating compared to the single location during the first four months of 2006.
Black Chandelier reported net sales increased 219% to $70,844 in the month of April 2007, compared to net sales of $22,215 reported in the month of April 2006. Black Chandelier reported a 26% year-over-year same store net sales decrease in its Trolley Square location, due to the large renovation project currently in progress at the center. Andy Montana, branding director for Black Chandelier, said, "A key to creating long-term success in Black Chandelier centers on our web-store business. We re-launched our online store several weeks ago and our marketing efforts are increasing traffic and sales at an extremely promising rate."
Landis Lifestyle Salon ("Landis") reported net sales grew 53% to $570,004 in the first four months of 2007 compared to $373,191 reported in the first four months of 2006. For the month of April 2007, Landis reported a 34% increase in net sales to $144,907 from $107,951 reported for the same month in 2006. Including Nexia Holdings' total rental income from three properties in the Salt Lake downtown region, total revenue in the first four months of 2007 grew by 83% to $971,610 compared to total revenue of $530,091 reported in the first four months of 2006. The addition of three new Black Chandelier stores during 2006 account for $233,377 of the $441,519 increase in revenues reported by Nexia's operations during the first four months of 2007.
President of Nexia Holdings Richard Surber commented, "Our net sales results continue to show impressive growth. Since November 2006, we have achieved consecutive month-to-month growth in revenues from Black Chandelier and Landis Lifestyle Salons, proving our strategies are working. We are on track to meet or exceed overall sales projections of $3.2 million, including our rental properties, by year-end 2007."
About Nexia Holdings Inc.
Nexia Holdings Inc. (OTC Bulletin Board: NEXA - News), headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. The Company has been acquiring undervalued properties in the Salt Lake City area since the early 1990s. Nexia owns a majority interest in Landis Lifestyle Salon, http://www.landissalon.com, a hair salon built around the world-class AVEDATM product line. Through its Gold Fusion Laboratories subsidiary, Nexia owns the innovative retail and design firm Black Chandelier and its related brands. Black Chandelier is expanding nationwide, and currently operates four retail locations and online operations at http://www.blackchandelier.com. For more information, visit http://www.nexiaholdings.com.
Nexia strongly encourages the public to read the above information in conjunction with its Form 10-KSB for December 31, 2006. Nexia's Disclosures can be viewed at http://www.nexiaholdings.com and http://www.sec.gov.
This press release reports information gathered on a preliminary basis for the first four months of operations during 2007, the numbers are not audited, have not been reviewed by our independent accountants and are subject to change and further review as more information is gathered. The information does not reflect costs of operations and does not predict profitable operations for Nexia and its subsidiaries. This press release also contains forward-looking statements that are based on a number of assumptions, including the successful completion of the marketing plans and expansion of Gold Fusion Laboratories, Inc. operations in a short period of time. The above statements further assume that Nexia can obtain sufficient capital to execute expansion plans through outside investments including but not limited to obtaining significant leasehold improvements and sufficient lines of credit to fund the opening of additional Gold Fusion Laboratories, Inc. locations. Nexia's assumptions are further contingent upon Gold Fusion Laboratories, Inc. being able to properly staff its additional locations. There are no assurances that such assumptions will prove correct. These forward-looking statements involve a number of risks and uncertainties, including an expectation of substantial increase in sales. The actual results that Nexia Holdings may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Nexia Holdings, Inc.
801-575-8073 x 106
RichardSurber@nexiaholdings.com
or
For Investor Relations:
OTC Financial Network
Rick McCaffrey
781-444-6100x625
rick@otcfn.com
http://www.otcfn.com/nexa
Source: Nexia Holdings, Inc.
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