Bradlees Reports 19% Increase in July Comparable Store Sales.BRAINTREE, Mass.--(BUSINESS WIRE)--Aug. 5, 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 July 31, 1999 increased 19.0% over the prior-year period. Total sales for the four-week period increased 18.1% to $101.9 million, compared to $86.3 million in the prior-year period. Comparable store sales for the 13-week quarter increased 19.2%. Year-to-date comparable store sales for the 26-week period ended July 31, 1999 increased 16.1% over the prior-year period. Total sales for the 26 weeks were up 14.7% to $706.8 million, compared to $616.2 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. "Our July results continue our strong sales momentum," said Peter Thorner, Bradlees Chairman and Chief Executive Officer. "These results are a combination of our focused 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. strategy, a good in-stock position, solid store execution and a company-wide commitment to serving our customers." Bradlees is a leading regional discount retailer with 102 stores in seven Northeastern states and sales in 1998 of $1.4 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. 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 and Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act 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 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and in other SEC filings. |
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