Crown Books Corp. announces earnings.LANDOVER Landover can refer to:
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 :CRWN CRWN Composite Reconfigurable Wireless Network ), reported that for the 13 weeks ended Nov. 2, 1996 it earned $110,000 or 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. compared to a net loss of $670,000 or 12 cents per share for the same period last year. Sales increased 5% to $63,281,000 for the current quarter compared to $60,250,000 for the same period one year ago. Sales for comparable stores (stores open more than 13 months) for the current quarter decreased 2% compared to the same period one year ago. Comparable store sales for all superstores This is a list of superstores by country. Multi-national
Comparable store sales for the new prototype superstores for the quarter increased 7%. Crown's superstores consist of the original superstores of 6,000 to 10,000 square feet and the new superstore su·per·store n. A very large retail store that stocks highly diversified merchandise, such as groceries, toys, and camera equipment, or a wide variety of mechandise in a specific product line, such as computers or sporting goods. prototype targeted to occupy 15,000 square feet. The new superstore prototype was implemented for all stores opening in April 1994 and thereafter. Results for both years were affected by reserves related to future store closings being reversed due to advantageous lease settlements and improved operations. In the current quarter, $4,917,000 in reserves were reversed, and $2,229,000 in reserves were reversed in the same quarter in the prior year. Steve Stevens Steve Stevens (born as Steve Schneider on May 5, 1959, in Brooklyn, New York) is an American guitarist and songwriter. He is best known for playing for other artists (most notably Billy Idol and Vince Neil) and less known, but critically acclaimed for his solo efforts , president and chief executive officer, said, "We continue to be pleased with the results of the new prototype superstores. "We opened six new location in the third quarter, increasing our new prototype store total to 40, while continuing to make the investments in systems and infrastructure which will allow us to continue opening our new stores which offer the best bookstore combination of price, service and selection. "Our new prototype stores now represent 27% of our sales and during the first few weeks of the fourth quarter we have successfully opened an additional 14 new prototype stores including two expansions." For the 39 weeks ended Nov. 2, 1996, Crown Books Crown Books was a bookseller based in Largo, Maryland. It was founded in the Washington, D.C. metro area by Robert Haft in 1977. History Overview Crown Books was founded in the Washington, D.C. incurred a net loss of $3,217,000 or 60 cents per share compared to a net loss of $804,000 or 15 cents per share for the same period last year. Sales increased 4% to $192,306,000 for the 39 weeks ended Nov. 2, 1996 compared to $185,161,000 for the same period one year ago. Sales for comparable stores for the same 39 week period remained constant compared to the same period one year ago. Comparable store sales for all superstores for the same 39 week period remained constant. Comparable store sales for the new superstore prototype for the 39 week period increased 12%. Results for both periods were affected by reserve reversals related to future store closings of $4,917,000 and $5,904,000, respectively. Crown Books operates 174 book stores, including 109 Super Crown stores, in the Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. D.C.; California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). ; Houston; Chicago, and Seattle metropolitan areas The Seattle metropolitan area in Washington, USA includes the city of Seattle, King County, Snohomish County, and Pierce County within the Puget Sound area. The U.S. Census Bureau defines the metropolitan area as the Seattle-Tacoma-Bellevue, WA , compared with 179 stores, including 85 Super Crown stores, in operation one year ago. -0-
Crown Books Corp.
-----------------
(in thousands, except earnings per share)
13 weeks 13 weeks 39 weeks 39 weeks
ended ended ended ended
11/2/96 10/28/95 11/2/96 10/28/95
-------- -------- -------- --------
Sales $63,281 $60,250 $192,306 $185,161
Operating income/(loss) $(4,378) $(3,425) $( 9,728) $( 8,033)
Income/(loss) before
income taxes $ 404 $( 958) $( 5,097) $( 1,167)
Net income/(loss) $ 110 $( 670) $( 3,217) $( 804)
Earnings/(loss) per share $ .02 $( .12) $( .60) $( .15)
Weighted average shares
outstanding 5,309 5,389 5,362 5,389
CONTACT: Crown Books Corp. by Ein Communications, 202/223-2922 |
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