Cost-U-Less, Inc. Announces Record Sales for Fourth Quarter and Full Year 1999.Business Editors BELLEVUE, Wash.--(BUSINESS WIRE)--Dec. 30, 1999 Cost-U-Less, Inc. (the "Company") (Nasdaq:CULS CULS Capital University Law School (Columbus, Ohio) ) announces record sales of $47 million for the fourth quarter 1999, ending December 26, 1999, an increase of 23.7 percent from $38 million in the same period a year ago. Fourth quarter sales increased due to store openings in the Curacao (Q2 1999) and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. markets (Q4 1999), and a rise in corporate sales. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of growth was 1.5 percent in fourth quarter 1999. However, same store sales were negatively impacted by temporary store closures caused by Hurricanes Jose and Lenny in the Caribbean, and slowing economies in Guam and Samoa. Fiscal year 1999 sales were $167 million, a 24.6 percent increase over sales of $134 million for fiscal year 1998. Fiscal 1999 sales were bolstered by a full year of sales from stores opened in the Fiji market during 1998. "We are pleased to announce record sales for the fourth quarter and the year resulting from our steady expansion in the South Pacific and the Caribbean," said President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. J. Jeffrey Meder. "However, store development costs in the New Zealand market have been greater than anticipated, and will continue at higher than planned levels in fiscal 2000." The company will report fourth quarter and full year earnings results on February 23, 2000. Expansion plans for 2000 include a store opening in St. Maarten in the Caribbean in the third quarter of 2000. Cost-U-Less is a leading operator of non-membership warehouse "club-style" stores, with 13 locations: Hawaii (2); Guam (2); the U.S. Virgin Islands (2); Fiji (2); Curacao, Netherlands Antilles Netherlands Antilles, island group, an autonomous part of the Netherlands (2005 est. pop. 220,000), 371 sq mi (961 sq km), West Indies. Formerly known as the Dutch West Indies and Netherlands West Indies, they are divided into two groups. ; New Zealand (2); American Samoa and Sonora, CA. Note: Investor relations Investor relations The process by which the corporation communicates with its investors. information can be obtained from the company website at www.costuless.com |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion