Goody's Announces Fiscal 1997 Year-End Sales Results.KNOXVILLE, Tenn.--(BUSINESS WIRE)--Feb. 5, 1998--Goody's Family Clothing, Inc. (Nasdaq/NM:GDYS) today reported sales for the fiscal month of January 1998 of $44.6 million, an increase of 23.5% over January 1997 sales of $36.1 million. Comparable store sales for January 1998 increased 11.3% over January 1997. Sales for the fiscal fourth quarter ended January 31, 1998, increased 22.4% to $334.8 million from $273.5 million during the same period last year. Comparable store sales for the fourth quarter of 1997 increased 10.1% over the fourth quarter of 1996. Sales for the fiscal year 1997, which ended January 31, 1998, increased 18.7% to $971.9 million from $819.1 million for the prior fiscal year. Comparable store sales for the fiscal year 1997 increased 8.2% over the fiscal year 1996. Robert M. Goodfriend, Chairman and Chief Executive Officer, commented, "We remain extremely pleased with the sales results for the fourth quarter and the fiscal year 1997, as well as our gross margins which remain higher than those achieved for the same periods in 1996. Inventories at the end of fiscal 1997 are well positioned as we enter fiscal 1998. As previously reported, the Company increased the level of spring season inventory to be in position to satisfy anticipated customer demand." Mr. Goodfriend also reported that the Company currently plans to open 25 new stores, relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. approximately 10 to 12 stores and close 2 stores, including one temporary store, during fiscal 1998. 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. which are based upon current expectations, plans and estimates and involve material risks and uncertainties including, but not limited to, customer demand and trends in the apparel and retail industry and to the acceptance of merchandise acquired for sale by the Company, the effectiveness of planned advertising and promotional events, the impact of competitors pricing and store expansion, the ability to enter into leases for new store locations, individual store performance, including new stores, adverse weather conditions, employee relations, and the general economic conditions within the Companys markets. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. With headquarters in Knoxville, Tennessee “Knoxville” redirects here. For other uses, see Knoxville (disambiguation). Founded in 1786, Knoxville is the third-largest city in the state of Tennessee, behind Memphis and Nashville, and is the county seat of Knox CountyGR6. , Goody's is a retailer of moderately priced apparel for women, men and children operating 223 stores (including one temporary store) in the 15 states of Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). , Arkansas, Florida, Georgia, Illinois, Indiana, Kentucky, Mississippi, Missouri, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Ohio, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Tennessee, Virginia and 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. . CONTACT: Goody's Family Clothing Goody's Family Clothing is a chain of clothing retailers based in Knoxville, Tennessee. It operates approximately 383 stores in the U.S South and Midwest, including Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, , Knoxville Edward R. Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] , 423/966-2000 |
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