Family Bargain Corp. Announces Record December Sales.SAN DIEGO--(BUSINESS WIRE)--Jan. 8, 1998--Family Bargain Corp. (Nasdaq:FBAR/FBARP) Thursday Thursday: see week. announced that sales for the five-week period ended Jan. 3, 1998, increased 34% to $52.9 million compared with $39.5 million last year. Comparable store sales for December increased 17.7%. Sales for the 48 weeks ended Jan. 3, 1998, were $286.3 million, an increase of 20.6% over sales of $237.5 million for the first 48 weeks of fiscal 1996. Same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. increased 3.1% for the 48-week period ended Jan. 3, 1998. The company operated 169 stores as of Jan. 3, 1998. James D. Somerville, chairman of the board of Family Bargain, commented: "We are extremely gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. with the strong sales performance of the company during the all-important holiday season. We believe our customers recognized and responded to the values available in our stores as evidenced by the exceptional sales results. We anticipate that the strong sell-through in December will enable us to reduce the level of after-Christmas markdowns." Family Bargain operates 169 "Family Bargain Center" and "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. " off-price retail stores in seven states which sell primarily first-quality clothing for men, women and children, and household goods at prices which generally are significantly lower than the prices offered by its competitors. Stores are located in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . 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 risk 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 CONSTRAINTS - A language for solving constraints using value inference. ["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)]. or difficulties, and other risks detailed in the company's Securities and Exchange Commission filings. CONTACT: Kehoe, White, Savage & Co. Inc. James K. White, 562/437-0655 |
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