Ames Reports February Sales.Business Editors ROCKY HILL Rocky Hill, town (1990 pop. 16,554), Hartford co., central Conn., a suburb of Hartford, on the Connecticut River; settled c.1650, inc. 1843. Chemical coatings and synthetic textiles are made there. Rocky Hill was an important river port from 1700 to 1820. , Conn.--(BUSINESS WIRE)--March 2, 2000 Ames Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMES) today announced net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the four week period ended February 26, 2000 were $230.1 million, compared with net sales of $227.9 million in the year earlier period, an increase of 1.0 percent. Sales are based on 455 stores for both years with the prior year sales benefiting from the proceeds of the inventory liquidation sales of the 155 Hills stores. Comparable store sales for the period were $143.6 million compared with $140.8 million in the year earlier period, an increase of 2.0 percent. Comparable store sales are based on 290 stores. Reported sales for both the current and prior year reflect a change in the method of accounting for layaway An agreement between a retail seller and a consumer that provides that the seller will retain designated consumer goods for sale to the consumer at a specified price on a future date, if the consumer deposits with the seller an agreed upon sum of money. sales to conform to SEC Staff Accounting Bulletin No. 101 on revenue recognition. The company adopted the change in accounting for layaway sales in the fourth quarter of fiscal 1999. Joseph R. Ettore, Ames' Chairman and Chief Executive Officer, said, "Despite the snowstorm that affected our entire operating area over the weekend of February 18, the year 2000 is off to a good start. Our Furniture Frenzy promotion helped us improve on last year's strong 9.7% comp increase. Additionally, this will be the first full year of sales with all of the former Hills and Caldor stores on line, and we are seeing very exciting results. Sales for February this year were led by strong results in several categories: menswear, children's and intimate apparel, furniture and home entertainment." With 454 stores located in 19 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Ames is the nation's largest regional, full-line discount retailer with annual sales of $4 billion. Ames offers a broad range of merchandise categories including family apparel, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , domestics, electronics, ready-to-assemble and patio furniture, jewelry, craft and pet supplies, health and beauty care items, stationery, sporting goods, toys, seasonal products and more. For fax copies of Ames' most recent news releases, dial 1-800-758-5804, Ext. 036787. To find the location of the Ames store nearest you, dial 1-800-SHOP-AMES. http://www.AmesStores.com http://espanol.AmesStores.com (in Spanish) |
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