FACTORY 2-U STORES, INC. Announces the Departure of Its Executive Vice President of Merchandising and Marketing.Business Editors SAN DIEGO--(BUSINESS WIRE)--Aug. 12, 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 termination of Larry Kelley Lawrence Morgan "Larry" Kelley (May 30, 1915 – June 27, 2000) was an American football player born in Conneaut, Ohio. He played end, for Yale University. While at Yale he was a member of Skull & Bones, and was the second winner of the Heisman Trophy in 1936. , the former Executive Vice President, and General Merchandise Manager, whose employment with the Company ended yesterday. Bill Fields, Chairman and Chief Executive Officer, will assume the general merchandising and marketing responsibilities for the Company. Mr. Fields commented, "In light of this development, I have decided to manage the merchandising and marketing functions for the foreseeable future in order to provide consistency in vision and ensure that our current programs are executed. We intend ultimately to search for a new General Merchandise Manager following the upcoming holiday season." 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 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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