BRENDLE'S COMPARABLE STORE SALES ARE UP
ELKIN, N.C., March 15 /PRNewswire/ -- For the first time in almost three years, Brendle's Stores, Incorporated (NASDAQ: BRDLQ) experienced comparable store sales higher than in the previous year. In addition, there was a major turnaround in Brendle's operating profit. Total estimated sales from February 1, 1993 through January 30, 1994 (Brendle's Fiscal Year 1994) were $171,011,000. (This includes sales though May from the 13 stores closed during 1993). Sales between February 1, 1992 and January 31, 1993 were $235,000,000, but this figure represents 51 stores. Comparable store sales, however, were up 6% and .05% ahead of its fiscal plan: estimated sales were $156,590,000 for the 30 go-forward stores. For the fiscal year ended January 1994, the Company anticipates a net loss of approximately ($19,291,000) compared to a net loss of ($19,899,000) the previous year. Earnings before interest, taxes, depreciation, and restructuring costs are estimated to be $1,109,000 this year compared to a loss of ($5,307,000) last year. "These sales were achieved in an increasingly competitive retail climate," said Douglas D. Brendle, Chairman of the Board and CEO. "Comparable store sales at Brendle's have been up over the past year, and these figures show it," he said. Mr. Brendle, who has been with the Company for over forty years, also discussed the wide variety of products available at the Brendle's stores. "Our merchandise assortment was well received by the discriminating consumers we target," said Brendle. "Brendle's -- in keeping with its motto-- has become the place to go `For All the Things You Want,'" he said. Brendle's Stores, Inc. is a discount retailer that offers its customers over 20,000 brand name hardlines, toys, electronics, housewares, gifts, and jewelry in 30 stores and through mail order programs. The Company plans to emerge from reorganization on April 30, 1994. -0- 3/15/94 /CONTACT: Douglas D. Brendle, Chairman of the Board and CEO, 910- 526-6505, Bill Grady, Senior Vice President, 910-526-6513, or David Renegar, Vice President and CFO, 910-526-6511, all of Brendle's Stores/ (BRDLQ)
CO: Brendle's Brendle's was a chain of catalog showrooms based in Elkin, North Carolina. Its showrooms carried jewelry, toys, sporting goods, and electronics. At its peak in 1990, Brendle's operated 58 showrooms in North Carolina, South Carolina, Virginia, and Tennessee. Stores, Incorporated ST: North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures
Area, 52,586 sq mi (136,198 sq km). Pop. IN: REA SU: SLS (Selective Laser Sintering) See laser sintering and 3D printing.
MB -- CH003 -- 0360 03/15/94 09:48 EST EST electroshock therapy.