FACTORY 2-U STORES, INC. Announces Appointment of New General Merchandise Manager.Business Editors SAN DIEGO--(BUSINESS WIRE)--Nov. 13, 2003 FACTORY 2-U Factory 2-U is a chain of department stores that are located mostly in the Western United States selling clothing, domestics, and merchandise, founded in 1962, originally private owned. They have 6000 employees with more than 10 stores. STORES, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq:FTUS FTUS Full-Time Unit Support ) today announced the appointment of A.J. Nepa as Executive Vice President and General Merchandise Manager of the Company. Bill Fields, Chairman and Chief Executive Officer of the Company, had been handling the merchandising responsibilities on an interim basis pending the hiring of a new general merchandise manager. Mr. Nepa, 51, served as Senior Vice President and General Merchandise Manager of One Price Clothing Stores from 1998 to 2000 and General Merchandise Manager for It's Fashion, a division of Cato Stores, from 1992 to 1998. In total, Mr. Nepa possesses approximately 30 years of merchandising experience with department, discount and off-price retail store chains. Most recently, Mr. Nepa was the General Merchandise Manager for Forman Mills Forman Mills, Inc. is a Pennsauken, NJ -based retail chain and department store with 22 stores, all located in Philadelphia, Baltimore, Wilmington, New Jersey and their suburbs. It is owned by Richard Forman and its motto is Stretch those bills...at Forman Mills. , a privately held off-price retail chain headquartered in Pennsylvania. Mr. Fields commented, "We are delighted to have someone with A.J.'s experience and background join our company. His extensive experience in all aspects of merchandising will assist us with the execution of our current programs and the refinement of our merchandising strategy and assortment for fiscal 2004." FACTORY 2-U STORES, INC. operates 243 "Factory 2-U" off-price retail stores which sell branded casual apparel for the family, as well as selected domestics and household merchandise at prices which generally are significantly lower than the prices offered by its discount competitors. The Company operates 32 stores in Arizona, 2 stores in Arkansas, 65 stores in southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , 63 stores in northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern , 1 store in Idaho, 8 stores in Nevada, 9 stores in New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , 1 store in Oklahoma, 14 stores in Oregon, 34 stores in Texas, and 14 stores in Washington. Except for the historical information contained herein, the matters discussed in this news release are 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. that involve risks and uncertainties, and actual results could differ materially from the Company's present expectations. Among the important factors that could cause actual results to differ materially from those indicated in the forward-looking statements are: customer demand and trends in the off-price apparel industry, the effect of economic conditions, the impact of competitive openings and pricing, supply constraints or difficulties, and other risks detailed in the Company's Securities and Exchange Commission filings. |
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