CLOTHESTIME OPENS THREE ATLANTA STORES
CLOTHESTIME OPENS THREE ATLANTA STORES ATLANTA, April 1 /PRNewswire/ -- The Clothestime Inc.
(NASDAQ: CTME), one of the leading women's retail apparel chains with 410 stores spanning the United States, opened three new stores in Atlanta announced John Ortega II, chairman of the board. Clothestime currently has seven Atlanta locations, and plans to double its presence in the area by opening seven new stores this year.
The openings come on the heels of Clothestime's announcement that sales for the fourth quarter and year ended Jan. 25, 1992, increased 25 percent to $71 million, as compared to $56.6 million in the same period last year. Sales for the four weeks of February 1992 increased 17 percent to $16.9 million, as compared to $14.4 million in the same period last year. Comparable store sales for the four weeks of February 1992 increased 11 percent. "Atlanta is the hub of the south, and this is an area we have targeted for saturated growth," explained Jeff Dake, vice president of real estate. "There is nothing to impede our sales progress. Our quality, value- priced merchandise format works extremely well for us in Atlanta," Ortega said. "Our customers know we're always in fashion and never full price." Clothestime opened a 3,200-square-foot store on Feb. 27, 1992, in Stone Mountain at Highway 78 and Rock Bridge Road; a 5,200-square-foot location will open on April 16, 1992, in Akers Mill at Northside Parkway, south of Cumberland Mall; a 3,300-square-foot location will open on April 16, 1992, in Sandy Springs at Roswell and Abernathy Roads. The company is targeting several other Atlanta locations for fall openings including Buckhead, East Cobb, Alpharetta and Athens. From its humble beginning in 1974 as a single store in Orange, Calif., Clothestime now operates 410 women's apparel stores in 16 states from California to Virginia from its Anaheim, Calif., headquarters. Offering current-season, value-priced junior sportswear, dresses and accessories, Clothestime has an emphasis on brand names at substantial discounts from full-priced department and specialty stores. The Clothestime Inc.'s common stock is traded over the counter under the NASDAQ symbol "CTME." -0- 4/1/92 /CONTACT: Jennifer Sims of Gloria Zigner & Associates, 800-669-4599, for The Clothestime Inc./ (CTME) CO: The Clothestime Inc. ST: Georgia, California IN: REA SU:
EH-JL -- LA009 -- 3740 04/01/92 09:03 EST
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|Date:||Apr 1, 1992|
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