Big B makes announcement.BESSEMER, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--March 1, 1996--Big B. Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). symbol BIGB) reported today that sales and earnings for its fiscal fourth quarter and year which ended February 3, 1996 will fall below current analyst estimates. The Company reported that sales for the quarter were negatively impacted by the weaker than normal Christmas selling season and hurt by the severe ice storm during the last week of its fiscal year which closed over half of its stores for several days and reduced comparable store sales increases for the quarter to between two and three percent. Big B Chairman Anthony Bruno stated that despite the disappointing fourth quarter results, several trends during the quarter bode bode 1 v. bod·ed, bod·ing, bodes v.tr. 1. To be an omen of: heavy seas that boded trouble for small craft. 2. well for the new year. Bruno noted that pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. gross margins stabilized sta·bi·lize v. sta·bi·lized, sta·bi·liz·ing, sta·bi·liz·es v.tr. 1. To make stable or steadfast. 2. during the quarter, rising slightly, and overall sales remained strong during the non-seasonal weeks other than during the ice storm. Bruno also noted that during the year Big B completely replaced its pharmacy computer system and this coupled with the point of sale system installed in the prior year will result in greater operating efficiencies and reductions in inventories. Bruno also stated that he is confident that Big B earnings will rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective for the current year, showing improvement over fiscal 1996. Big B, Inc. is the nation's 10th largest drug chain with 384 stores in Alabama (170), Georgia (161), Florida (32), Mississippi (7), and Tennessee (23). CONTACT: Big B, Inc. Mike Tortorice, 205/424-3421, ext. 213 |
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