Best Products Announces June Sales.RICHMOND, Va.--(BUSINESS WIRE)--July 11, 1996--Best Products Co., 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 : BEST) today reported that sales for fiscal June, the five weeks ended July 6, 1996 decreased 16.1% to $105.4 million compared to $125.6 million for the five weeks ended July 1, 1995. Comparable store sales decreased 18.7%. The company noted that the Fourth of July Fourth of July, Independence Day, or July Fourth, U.S. holiday, commemorating the adoption of the Declaration of Independence. Celebration of it began during the American Revolution. shopping period shifted from fiscal July in 1995 to fiscal June in 1996. Fiscal year-to-date sales decreased 5.0% to $479.5 million for the 22 weeks ended July 6, 1996 compared to $504.9 million for the same period in 1995. Year-to-date comparable store sales decreased 8.9%. Best Products noted that its June comparable store sales are in line with expectations announced June 18, 1996, when the company said it anticipated its second quarter operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. would be similar to its first quarter operating loss. Best Products, a specialty retailer offering category-dominant assortments of jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. and home furnishings, operates 169 Best stores in 23 states. The company also operates 11 Best Jewelry stores and a nationwide mail-order service. CONTACT: Best Products Inc., Richmond Investor Relations Investor relations The process by which the corporation communicates with its investors. : Frederick Kraegel, 804/261-2150 or Media Contact: Ross Richardson, 804/261-2157 |
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