Elder-Beerman Announces July and Second Quarter Sales and Second Quarter Earnings Expectation.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--Aug. 3, 2000 The Elder-Beerman Stores Corp. (Nasdaq:EBSC EBSC Elder-Beerman Stores Corp. EBSC East Bay Sanctuary Covenant (Berkeley, CA) EBSC Embedded Bitmap Scaling EBSC Elmbrook Swim Club (Brookfield, Wisconsin) EBSC English Bay Swim Club ) today announced its sales results for the four-week period and second quarter ended July 29, 2000. July total department store sales decreased 2.6 percent to $35.0 million compared to the same period last year. On a comparable store basis, sales for Elder-Beerman department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. decreased 4.4 percent compared to the same period last year. The best performing businesses in July were ladies' special sizes sportswear and cosmetics cosmetics, preparations externally applied to change or enhance the beauty of skin, hair, nails, lips, and eyes. The use of body paint for ornamental and religious purposes has been common among primitive peoples from prehistoric times (see body-marking). . Second quarter total sales increased 1.7 percent to $131.4 million compared to the same period last year. Second quarter comparable sales decreased 1.8 percent compared to the same period last year. Second Quarter Performance -------------------------- The company also announced today its expectations for earnings for the second quarter ended July 29, 2000. Based on current estimates the company expects its net loss in the second quarter to be in the range of $2.6 million to $3.3 million. This equates to a loss per share in the range of $0.18 to $0.22. These figures include normalized income taxes and exclude costs associated with the exploration of strategic alternatives, severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when expenses incurred in connection with the departure of John A. Muskovich, former President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , and expenses incurred in connection with the proxy contest Proxy contest A battle for the control of a firm in which a dissident group seeks, from the firm's other shareholders, the right to vote those shareholders' shares in favor of the dissident group's slate of directors. Also called proxy fights. that was settled as previously announced on July 20, 2000. Frederick J. Mershad, Chairman and Chief Executive Officer, stated, "Our industry as a whole experienced disappointing second quarter sales and we were no exception. Because sales were soft, markdowns were higher than planned to clear excess inventories." The nation's ninth largest independent department store chain, The Elder-Beerman Stores Corp. is headquartered in Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. and operates 60 stores in Ohio, West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , Indiana Indiana, state, United States Indiana, midwestern state in the N central United States. It is bordered by Lake Michigan and the state of Michigan (N), Ohio (E), Kentucky, across the Ohio R. (S), and Illinois (W). , Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). , Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. , Kentucky Kentucky, state, United States Kentucky (kəntŭk`ē, kĭn–), one of the so-called border states of the S central United States. It is bordered by West Virginia and Virginia (E); Tennessee (S); the Mississippi R. , Wisconsin and Pennsylvania, and has announced the Fall 2000 openings of three new stores. Elder-Beerman also operates two furniture superstores This is a list of superstores by country. Multi-national
Note: See attached table of sales comparison figures.
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(dollars in millions) JULY(a)
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2000 1999 Total Comparable
Sales Sales Sales Sales
(unaudited) Change(b) Change
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The Elder-Beerman
Stores Corp. $35.0 $35.9 (2.6%) (4.4%)
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(dollars in millions) SECOND QUARTER(a)
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2000 1999 Total Comparable
Sales Sales Sales Sales
(unaudited) Change(b) Change
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The Elder-Beerman
Stores Corp. $131.4 $129.2 1.7% (1.8%)
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(dollars in millions) YEAR TO DATE(a)
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(unaudited) 2000 1999 Total Comparable
Sales Sales Sales Sales
Change(b) Change
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The Elder-Beerman
Stores Corp. $273.0 $268.9 1.5% (1.7%)
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(a) All sales figures exclude leased department sales.
(b) Percentages may not correspond to the sales figures shown due to
rounding of sales figures.
This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ," including predictions of future operating performance, events or developments such as our future sales, profits, expenses, income and earnings per share. In addition, words such as "expects," "anticipates," "intends," "plans," "believes," "hopes," and "estimates," and variations of such words and similar expressions, are intended to identify forward-looking statements. Because forward-looking statements are based on a number of beliefs, estimates and assumptions by management that could ultimately prove inaccurate, there is no assurance that forward-looking statements will prove to be accurate. Many factors could materially affect our actual future operations and results, including the following: increasing price and product competition; fluctuations in consumer demand and confidence; the availability and mix of inventory; fluctuations in costs and expenses; the effectiveness of advertising, marketing and promotional programs; weather conditions that affect consumer traffic in stores; the continued availability and terms of financing; the ability to open new stores on schedule; the outcome of pending and future litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; consumer debt levels; and other general economic conditions that affect retail operations and sales, such as the rate of employment, inflation and interest rates and the condition of the capital markets. Elder-Beerman undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. |
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