Catherines Stores Corp. reports April sales results and a new private label credit agreement.MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--May 3, 1995--Catherines Stores Corp. (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 :CATH CATH Catholic CATH Cathedral CATH Cathode CATH Autonomous Haitian Workers (Haiti) CATH Center for Applied Technologies in the Humanities (Virginia Tech) ) reported Wednesday that unaudited sales for its four-week period ended April 29, 1995 increased 10.2 percent to $22.9 million from $20.8 million. First quarter sales increased 5.5 percent to $67.7 million from $64.2 million. Comparable stores' sales in the month of April increased 5.9 percent. First quarter comparable stores' sales increased 0.3 percent. During the month of April five stores were opened. Catherines plans to open an additional two stores in May. Catherines also announced the signing of an amendment and a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. extension to an agreement through which its third-party private label provider delivers credit card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. . Bernard Ber·nard , Claude 1813-1878. French physiologist noted for his study of the digestive and nervous systems. J. Wein, Chairman and Chief Executive Officer said, "This new agreement will enable Catherines to provide customers with the first-rate service that our provider's private label credit card programs have made possible. Anticipated increases in efficiency along with expanded efforts by Catherines, in collaboration with our provider, to effectively control delinquencies will lead to significant reductions in our selling, general and administrative expenses. This new agreement will result in an improvement in our financial outlook. If this agreement had been in effect at the beginning of fiscal 1994, our selling, general and administrative expenses would have been approximately 5 percent less than reported." Catherines Stores Corp. is a Memphis based specialty retailer selling large-size women's apparel in 419 stores in 38 states operating under the names Catherine's; PS...Plus Sizes, Plus Savings; Added Dimensions; and The Answer. CONTACT: Catherines Stores Corporation, Memphis David C. Forell, 901/363-3900, Ext. 271 |
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