Bradlees Announces Acquisition of Staten Island Store.BRAINTREE, Mass.--(BUSINESS WIRE)--Oct. 26, 1999-- Bradlees, 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 :BRAD) today announced it has signed a lease for a new store on Staten Island, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The store is the company's first on Staten Island. The location, a former Caldor store, will have 90,000 square feet of selling space and will follow Bradlees' new merchandise layout prototype. The new format features the placement of hardline goods around the perimeter of the floor while locating softlines in the inner perimeter. The layout creates wider aisles for the customer and better allocates space in keeping with Bradlees business mix. Bradlees expects the Staten Island store, located at 1801 South Avenue, to open in the spring of 2000. Other Bradlees locations in the region include Union Square in Manhattan, Yonkers, New York Yonkers is the fourth largest city in the State of New York (it falls behind New York City, Buffalo, and Rochester), and the largest city in Westchester County, with a population of 196,086 (according to the 2000 census). , and Woodbridge, Colonia and Jersey City, New Jersey. Peter Thorner, Bradlees' Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "We are pleased to add a new Bradlees to the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . We believe this new store fits with our strategy of controlled growth into areas of exceptional potential." Last month, Bradlees opened two new stores in Philadelphia and New Jersey. The Company has experienced year-to-date same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of growth of approximately 15%. Bradlees is a leading regional discount retailer with 104 stores in seven Nor, basic and fashion items for the home, and commarest store location call toll-free 1-877-272-3533 or visit the web site. Safe Harbor Statement: this pstatements are subject to important factors whi filings. |
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