Crown Books 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 ) announced net income for the 13 weeks ended July 29, 1995 was $250,000 or 5 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 $609,000 or 11 cents per share for the 13 weeks ended July 30, 1994. A net loss was recorded for the 26 weeks ended July 29, 1995 of $134,000 or 2 cents per share compared to net income of $1,024,000 or 19 cents per share for the same period one year ago. Sales of $124,911,000 for the 26 weeks ended July 29, 1995 decreased by $12,910,000 or 9.4% over the same period one year ago while sales of $63,873,000 for the 13 weeks ended July 29, 1995 decreased by $8,306,000 or 11.5% over the same period one year ago. The decreases were primarily the result of closing 45 stores since Jan. 1, 1995. Comparable sales (sales for stores open for 15 months) decreased 4.5% and 5.4% for the 26 weeks and 13 weeks ended July 29, 1995, respectively. Sales for Super Crown Book stores represented 62.7% and 63.4% of total sales for the 26 weeks and 13 weeks ended July 29, 1995 compared to 52.8% and 54.0% of total sales for the 26 weeks and 13 weeks ended July 30, 1994. Super 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. stores sales of $78,363,000 and $40,500,000 for the 26 weeks and 13 weeks ended July 29, 1995 increased 7.7% and 3.8% over the prior year and sales for comparable Super Crown Books stores decreased 2.6% and 3.1% Classic Crown Books stores sales of $46,548,000 and $23,373,000 for the 26 and 13 weeks ended July 29, 1995 decreased 28.4% and 28.5% from the prior year. Sales for comparable classic Crown Books stores decreased 7.1% and 8.7% during the 26 and 13 weeks ended July 29, 1995. The earnings of the company were affected by the reversal of $566,000 of its restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). reserve and by the reversal of $3,110,000 of its closed store reserve during the 26 weeks and 13 weeks ended July 29, 1995. These reversals were the result of two stores that will no longer be closed and costs for stores closed that were more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. than originally anticipated. Crown currently operates 179 stores including 73 Super Crown Books stores in the Washington DC metropolitan area, 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, compared with 234 stores, including 68 Super Crown Books stores in operation one year ago.
Crown Books Corporation
(in thousands)
(except earnings per share)
Thirteen weeks ended Twenty-six weeks ended
July 29, July 30, July 29, July 30,
1995 1994 1995 1994
Sales $63,873 $72,179 $124,911 $137,821 Net (loss) income before taxes $ 380 $ 941 $ (209) $ 1,600 Net (loss) income $ 250 $ 609 $ (134) $ 1,024 Earnings per share $ .05 $ .11 $ (.02) $ .19 Weighted average shares outstanding 5,389 5,389 5,389 5,389 CONTACT: Stanley Stanley, town (1991 pop. 1,557), capital of the Falkland Islands, S Atlantic Ocean, on East Falkland island. It is the main port and trading center of the islands. The name is sometimes written as Port Stanley. Rubenstein, 212/297-6108 |
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