Braun's Fashions Reports October Same-store Sales.MINNEAPOLIS--(BUSINESS WIRE)--Nov. 5, 1998--Braun's Fashions Corporation (Nasdaq: BFCI BFCI Butterfly Conservation Initiative ) today reported that total sales for its five-week period ended October 31, 1998, rose to $11.1 million from $10.8 million last year. Year-to-date sales for the eight months ended October 31, 1998 were $67.8 million, an increase of 10% from $61.6 million for last year's eight-month period. Same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. decreased 5% in October. For the eight months ended October 31, 1998 same-store sales increased 3%. As of October 31, 1998, Braun's operated 195 stores compared with 180 at November 1, 1997. Year-to-date, the company has added a net of 16 stores (opening 20 and closing 4 as leases expired), and plans to open an additional 4 new stores during the remainder of fiscal 1999. W.J. Prange, President and Chief Executive Officer of Braun's Fashions Corporation commented, "We began October with fresh and current inventory, therefore we did not need to be as promotional as we were last year. While the reduced level of promotional activity affected our sales, we were able to generate better-than-expected gross margins. With inventory current and merchandise assortments well focused, we are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op as we enter the Holiday selling season." Braun's Fashions Corporation is a Minneapolis-based specialty retailer of women's clothing and accessories that focuses on quality/value-priced fashions for working women. Presently, the company has 196 stores operating in 22 states, located primarily in the upper Midwest The Upper Midwest is a region of the United States with no universally agreed-upon boundary, but it almost always lies within the US Census Bureau's definition of the Midwest and includes the states of Minnesota and Wisconsin, as well as at least the Upper Peninsula of Michigan. . This release contains 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. regarding future performance of the company. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the company's control, including factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The company undertakes no obligation to update these forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or that may arise after the date hereof. |
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