GOTTSCHALKS ANNOUNCES FEBRUARY SALES RESULTS
FRESNO, Calif, March 7 /PRNewswire/ -- Gottschalks Inc. (NYSE NYSE
See: New York Stock Exchange : GOT) announced that February 1996 sales were $22.7 million, an increase of 3.8% over February 1995 sales of $21.9 million. Comparable store sales for February were 2.4% below the year earlier period.
"February sales started slowly, but finished with a strong fourth week as Weinstocks stores began to wind down their operation and go dark," stated Joe Levy, Chairman and Chief Executive Officer.
"We are delighted to see this trend continue through early March, and we are looking forward to our move to the larger Weinstocks' store in the Modesto Vintage Faire mall Vintage Faire Mall is a shopping mall located in Modesto, California. It is owned and operated by The Macerich Company and is the only enclosed, super-regional shopping center in Central California. , on March 15, 1996, and the grand opening of our now store in Reno, Nevada, on March 25, 1996. In April we will be moving into the larger Weinstocks' store in the Fashion Fair mall The Fashion Fair Mall is an enclosed shopping mall located in Fresno, California and owned by The Macerich Company. The mall has over 120 specialty stores, as well as being anchored by Macy's (176,410 sq ft (16389 m). in Fresno, California," Levy concluded.
Sales results are summarized as follows:
Total Store Same Store March 2, Feb. 25, Sales % Sales % 1996 1995 Increase Decrease (in 000's)
4 Weeks Ended $ 22,735 $ 21,911 3.8% (2.4%)
Gottschalks is a regional department store chain, currently operating thirty-four department stores and twenty-five specialty apparel stores in California, Washington, Oregon and Nevada. Gottschalks offers moderate to upper moderately priced brand-name fashion merchandise.
/CONTACT: Alan A. Weinstein, Senior Vice President and Chief Financial Officer of Gottschalks, 209-434-8000/
CO: Gottschalks Inc. ST: California IN: REA SU: SLS
MS-RB -- SFTH008 -- 0969 03/07/96 09:00 EST EST electroshock therapy.