Bradlees Announces Plans to Open New Store in Philadelphia.Business Editors BRAINTREE, Mass.--(BUSINESS WIRE)--May 11, 2000 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 in Philadelphia, Pennsylvania. Subject to regional construction demands, the Company expects to open the store later this year or early next year. The new location is located at the Northeast Tower Center at Roosevelt Boulevard The following roads are called Roosevelt Boulevard:
"We believe this is an exceptional location in a densely populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. , ethnically diverse neighborhood populated by customers who fit our demographic," said Peter Thorner, Bradlees Chairman and Chief Executive Officer. "This store will increase our presence in Philadelphia where we opened a store last year, and we believe this store has the potential for sales significantly in excess of our company average." The Company last month opened its newest store in Staten Island Staten Island (1990 pop. 378,977), 59 sq mi (160 sq km), SE N.Y., in New York Bay, SW of Manhattan, forming Richmond co. of New York state and the borough of Staten Island of New York City. , 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 , and said that early sales results are well above expectations. Bradlees is a leading regional discount retailer with 105 stores in seven Northeastern states and 1999 sales of $1.5 billion. Bradlees offers an assortment of merchandise focused on basic and casual apparel, basic and fashion items for the home, and commodity and convenience products. General information about Bradlees, including corporate background and press releases, is available on the internet at http://www.bradlees.com. To find the nearest store location call toll-free 1-877-272-3533 or visit the web site. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement:: this press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Any such statements are subject to important factors which could cause the Company's actual results to differ from those anticipated by the forward-looking statements. These factors are referenced in the Company's latest Form 10K and in other SEC filings. |
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