Big O announces success of Cost-U-Less program.ENGLEWOOD Englewood (ĕng`gəlw  d).1 City (1990 pop. 29,387), Arapahoe co., N central Colo., on the South Platte River, a residential and industrial suburb of Denver; inc. 1903. , Colo.--(AutomotiveWire)--Feb. 10, 1995--Big O Tires Inc. (NASDAQ/NMS:BIGO) Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant reported that revenues for the company continue to see significant strength based on the success of the Cost-U-Less marketing program that was introduced by the company in the third quarter, 1994. Steven P. Cloward, president and chief executive officer, stated: "Despite the distractions presented by the shareholder proposal, the success of the Cost-U-Less program has been at the forefront of the company's continued financial success. Revenues for the last six months are up approximately $6.1 million, compared to the same period in 1993, resulting in an increase of approximately $4.7 million for the year. This revenue increase is a direct result of the support this new marketing program received from the franchised dealers of the company. Industry analysts have indicated that sales during the fourth quarter, 1994, for the replacement market were up approximately 3-4%; however, as a result of the Cost-U-Less program and new store growth, sale of units within Big O were up 21.3% in the fourth quarter, and sales of our own Big O brand were up 32.7%. "Combining this revenue increase with our continued efforts to reduce overhead costs overhead costs see fixed costs. , the company anticipates reporting strong financial performance in the fourth quarter, 1994. Our auditors AUDITORS, practice. Persons lawfully appointed to examine and digest accounts referred to them, take down the evidence in writing, which may be lawfully offered in relation to such accounts, and prepare materials on which a decree or judgment may be made; and to report the whole, together are just starting the year end work, but we anticipate reporting fourth-quarter earnings that will be one of the best ever achieved by the company. Our year-end earnings announcement is currently scheduled for March 7, 1995. "Management and dealers of the company remain committed to the success of the entire franchised system. We believe that the Cost-U-Less marketing program is a stepping stone for continued growth of our franchise system." Big O Tires, Inc. is one of the largest independent retail tire and auto service franchisors in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , with 370 stores in 18 states primarily in the West and Midwest. The company also distributes tires and other automotive products to 41 associated dealers in British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Canada. It is the sole distributor of its private Big O brand tires and a major distributor of other brands such as Michelin, B.F. Goodrich and Uniroyal, as well as aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. suspension parts manufactured by Monroe Auto Equipment. Big O Tires' common stock is traded on the 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 National Market System under the symbol BIGO. CONTACT: Big O Tires, Inc., Englewood Beth R. Hayne, 303/790-2800 |
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