Catherines Stores Corporation Reports May Sales Results --Unaudited--.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)--June 3, 1999-- Catherines Stores Corporation (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 Thursday Thursday: see week. that comparable stores' sales increased 5.8% for the month of May, bringing the year to date comparable stores' sales increase to 5.9%. Total sales for the four week period ended May 29, 1999 increased 5.9% to $28.7 million from $27.1 million in the prior year. Total sales year to date have increased 5.3% to $109.0 million from $103.5 million in the prior year. The Company also announced that its Board of Directors and its bank group approved increasing the Company's stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program from $5 million to $6.5 million. Thus far, the Company has repurchased 370,100 of its common shares for approximately $3 million. The Company opened two new stores during the month of May, bringing the total number of stores opened this fiscal year to seven. The Company operated 438 stores at the end of May compared to 439 stores in the prior year. Catherines Stores Corporation is a Memphis-based specialty retailer selling large-size women's apparel under the names Catherine's; PS...Plus Sizes, Plus Savings; Added Dimensions; and The Answer. |
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