Ames to Open New Store in Warren, R.I.ROCKY HILL, Conn.--(BUSINESS WIRE)--June 5, 1998--Ames 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 that it will open its eighth store in Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. in the fall of 1998. Ames entered into a lease agreement with MEGL Realty Co., Inc. for the 65,790 square-foot store, which is located in Ocean State Plaza on Metacom Avenue in Warren, R.I. Joseph R. Ettore, Ames' President and Chief Executive Officer, said, "We are delighted to announce our sixth 1998 store opening. So far this year we have opened stores in Bradford, Pa.; North Cape May, N.J. and Saratoga Springs, N.Y. This fall we will open stores in Johnstown, Pa.; Bangor, Maine and now Warren, R.I." With $2.2 billion in annual 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 , Ames Department Stores, Inc. operates 299 stores in 14 Northeastern, Middle Atlantic and Midwestern 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 a full-line discount retailer, offering 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 and seasonal products. -0- 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. CONTACT: Lynn Riemer, (860) 257-2666 Rachel Meehan, (860) 257-5412 http://www.AmesStores.com |
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