Bradlees Reports 13% Increase in August Comparable Store Sales.BRAINTREE, Mass.--(BUSINESS WIRE)--Sept. 2, 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 BRAD British Rate And Data BRAD Bidirectional Reference Array Derived BRAD Bowdoin Random Access Device :-) BRad Bachelor of Radiology ) today announced that comparable store sales for the four weeks ended August 28, 1999 increased 13.0% over the prior-year period. Total sales for the four-week period increased 12.1% to $106.6 million, compared to $95.1 million in the prior-year period. Year-to-date comparable store sales for the 30-week period ended August 28, 1999 increased 15.7% over the prior-year period. Total sales for the 30 weeks were up 14.4% to $813.4 million, compared to $711.2 million in 1998. Sales for the period in 1998 included five stores which were closed in February and March of last year. One store was closed in March, 1999. "I am delighted with our August sales. It is further evidence that customers are responding to our merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. and continually improving customer service," said Peter Thorner, Bradlees Chairman and Chief Executive Officer. "Our company-wide focus on execution and on listening to our customers is driving our excellent results." Bradlees is a leading regional discount retailer with 102 stores in seven Northeastern states and 1998 sales of $1.4 billion. Bradlees offers an assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division. as·sort·ment n. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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