BEST PRODUCTS ANNOUNCES APRIL AND FIRST QUARTER SALES.RICHMOND, Va.--(BUSINESS WIRE)--May 4, 1995--Best Products Co., Inc. (Nasdaq:BEST) today reported sales for fiscal April, the four weeks ended April 29, 1995, increased 1.1% to $86.0 million compared to $84.2 million for the four weeks ended April 30, 1994. Comparable store sales decreased 3.7% for the same period. First quarter sales decreased 0.4% to $272.8 million for the thirteen weeks ended April 29, 1995 compared to $273.8 million for the same period the prior year. Comparable store first quarter sales decreased 4.3% to $260.3 million compared to $272.0 million for the same period during 1994. Chief Executive Officer Stewart M. Kasen said, "Best Products is experiencing soft consumer demand in many of its hardlines merchandise categories, particularly consumer electronics and lawn and patio furniture. Jewelry and housewares sales continued to trend positively." Best Products, a specialty retailer offering category-dominant assortments of jewelry and home products, opened two new stores late in the first quarter and now operates 163 Best stores in 22 states. The company also operates 12 Best Jewelry stores and a nationwide mail- order service. CONTACT: Best Products Co., Inc. INVESTOR RELATIONS: J. Stuart Newton, 804/261-2150 or Morgen-Walke Associates Betsy Brod/Stephanie Conzelman, 212/850-5600 or Best Products Co., Inc. MEDIA CONTACTS: Ross Richardson, 804/261-2157 or Morgen-Walke Associates Stacy Berns, 212/850-5600 |
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