CALDOR REPORTS JULY 1995 SALES; SECOND QUARTER EARNINGS OUTLOOK; FINANCING COMMITMENT.NORWALK Norwalk (nôr`wôk'). 1 City (1990 pop. 94,279), Los Angeles co., S Calif.; settled in the 1850s, inc. 1957. With the arrival (1875) of the Southern Pacific RR, it became a center for the dairy and logging industries, but , Conn.--(BUSINESS WIRE)--August 3, 1995--The Caldor Caldor was a chain of discount department stores based in the Norwalk, CT. The chain declared bankruptcy in 1995 and closed all of its stores on May 15, 1999. History Beginning Corporation (NYSE NYSE See: New York Stock Exchange : CLD CLD Called CLD Cloud CLD Cleared CLD Chronic Lung Disease CLD Council for Learning Disabilities CLD Cooled CLD Chronic Liver Disease CLD Clear Direction Flag CLD Certified LabVIEW Developer CLD Causal Loop Diagram ) reported today that sales for the month of July July: see month. 1995 rose to $182 million, an increase of 2.0% over sales of $178 million in July of 1994. Comparable store sales for the four week period decreased 4.9%. Comparable store sales for July of 1994 were up 9.3%. Second quarter 1995 sales, for the thirteen weeks ended July 29, 1995, increased 3.5% to $671 million over second quarter 1994 sales of $648 million. Comparable store sales decreased 3.0% during the quarter. During the second quarter of 1994, Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. sales, for the twenty-six weeks ended July 29, 1995, increased 4.2% to $1.235 billion over 1994 sales of $1.186 billion. Comparable store sales decreased 3.2% during the twenty-six week period. During the first half of 1994, comparable store sales increased 4.9% -0-
Comparable
Store Total
July 29, July 30, Percent Percent
($ in millions) 1995 1994 Change Change
Four weeks ended $182 $178 (4.9%) 2.0%
Thirteen weeks ended $671 $648 (3.0%) 3.5%
Twenty-six weeks ended $1,235 $1,186 (3.2%) 4.2%
Trailing fifty-two
weeks ended $2,798 $2,591 (1.5%) 8.0%
"Our July results were disappointing, with sales reflecting the
difficult retail environment in our market area," said Don Clarke,
Chairman and Chief Executive Officer of Caldor.
The Company announced that Chemical Bank has executed a
Commitment Letter for a term loan of approximately $40 million,
secured by six of the Company's properties.
The Company expects to report its second quarter results on
August 9, 1995, and anticipates, based on its preliminary analysis,
second quarter earnings of $0.18 to $0.22 per share compared to net
earnings of $0.50 per share in the second quarter of 1994.
The Caldor Corporation is the fourth largest discount department
store chain in the U.S. with sales of $2.8 billion during the last
12 months, and operates 166 stores in ten East Coast states, compared
to 154 a year earlier. With a strong consumer franchise in
high-density urban/suburban markets, Caldor offers a diverse
merchandise selection, including both softline and hardline products.
The Company's continued growth will be based on a store expansion
program, a unique merchandising strategy and a Customer-friendly
shopping experience.
CONTACT: Robert S Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. . Schauman Chief Financial Officer (203) 849-2004 or David D. Peterson Investor Relations Investor relations The process by which the corporation communicates with its investors. (203) 849-2037 or Report requests: (203) 849-2334 |
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