CHICO'S FAS ANNOUNCES MAY SALES RESULTS.FT. MYERS Myers can refer to: People
CHCS Composite Health Care System CHCS Chemical Hazards Communications Society (United Kingdom) CHCS Cabin Humidity Control Subsystem (NASA) CHCS Crew Health Care System ) today announced sales results for the four week period ended May 28, 1995. For the four week period, total sales decreased by 7.4% to $4.6 million from $5.0 million reported for the same period a year ago. Comparable store sales for the company-owned stores decreased 18.5% for the four week period. Year to date for the twenty-one twenty-one: see blackjack. weeks ended May 28, 1995, total sales remained relatively level at $24.3 million. Comparable store sales for the company-owned stores decreased 16.2% for the 21 week period. Marvin Gralnick, Chief Executive Officer and Chairman, commented, "Our disappointing May results, which were magnified by a difficult retail environment, reflect the continued transition from an emphasis on bold colors and prints to a more classic Chico's style." He continued, "We expect to see a more gradual return of the Chico's customer to our stores as we continue with the process of rebuilding our inventories to a more normalized level. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile we are pleased to see that our gross margins are running at or near 60%. As for June comparable store sales, while we expect they will still be negative, we anticipate improvement over May." Chico's sells exclusively designed, private-label women's casual clothing and related accessories. The Company operates a chain of 125 stores in 31 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and the U.S. Virgin Islands. The Company owns 109 stores; franchisees own 16. CONTACT: CHICO'S FAS, INC., Ft. Myers Charles Kleman, 813-277-6200 or Morgen-Walke Associates, 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 IR CONTACT: David Walke/Amy Weisman PRESS CONTACT: Lisa Bradlow 212/850-5600 |
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