Corporate Profile for Rag Shops Inc., dated Dec. 18, 1998.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Dec. 18, 1998
Company Name: Rag Shops Inc.
Address: 111 Wagaraw Road
Hawthorne, New Jersey 07506-2711
Main Telephone
Number: 973-423-1303
Chief Executive
Officer: Stanley Berenzweig
Chief Operating
Officer: Michael Aaronson
Chief Financial
Officer: Steven Barnett
Investor Relations
Contact: Steven Barnett
Business number: 973-423-1303
Public Relations
Contact: Steven Barnett
Business number: 973-423-1303
Trading Symbol/
Exchange: Nasdaq: RAGS
Industry: Retail
Company description: As of August 29, 1998, Rag Shops, Inc. operates 66 specialty retail stores in New Jersey, 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 , Pennsylvania, Florida and Connecticut which sell competivively priced craft and fabric merchandise. The Company caters to value conscious consumers who sew sew v. sewed, sewn or sewed, sew·ing, sews v.tr. 1. To make, repair, or fasten by stitching, as with a needle and thread or a sewing machine: and create decorative accessories. The Company believes that its wide selection of currently popular merchandise, value-pricing policy and commitments to both customer service and advertising are principal factors contributing to its success. The Company's stores are destination-oriented and also attract shoppers from other stores located in the same shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into . Fabric items available at the Company's stores include apparel and home decorative fabrics, trimmings, patterns and sewing sewing: see needlework. notions. Craft items include silk and dried flowers, wicker, picture frames, wood products, stitchery, yarn yarn, fibers or filaments formed into a continuous strand for use in weaving textiles or for the manufacture of thread. A staple fiber, such as cotton, linen, or wool, is made into yarn by carding, combing (for fine, long staples only), drawing out into roving, then , wearable art Wearable art, also known as Artwear, describes the making of individually designed pieces of usually hand-made clothing as artistic expressions. Pieces may be sold and/or exhibited , art supplies and craft supplies. The Company also sells a wide variety of seasonal merchandise with special emphasis on the Easter, Back-to-School, Halloween and Christmas seasons. During the five fiscal years ended August 29, 1998, the number of stores increased to 66 and net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight escalated to over $90 million. |
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