Printer Friendly

PIC 'N' SAVE COMPARABLE STORE SALES UP 15.3 PERCENT IN NOVEMBER

 PIC 'N' SAVE COMPARABLE STORE SALES UP 15.3 PERCENT IN NOVEMBER
 DOMINGUEZ, Calif., Dec. 5 /PRNewswire/ -- Pic 'N' Save Corp. (NASDAQ: PICN) announced today that its sales from continuing operations for the month of November (four weeks ended Dec. 1, 1991) were $58,832,000, up 14 percent from $51,609,000 for the same fiscal period in the prior year. Sales from continuing operations for the 43 weeks year-to-date were $411,968,000, an increase of 9.7 percent from the prior year's sales of $375,428,000. Comparable store sales increased 15.3 percent in November. Year-to-date comparable store sales are up 4.1 percent. Sales from continuing operations exclude the company's 14 Job Lot Pushcart stores which were sold in August, 1990.
 "Strong customer response to our seasonal Christmas merchandise and toy assortments contributed to November's sales increase," commented Len Williams, president and chief executive officer. "However, our November fiscal calendar, which ended December 1, 1991, included Thanksgiving week. This contributed, in part, to our strong November sales performance. This year's fiscal December, on the other hand, will have six fewer pre-Christmas selling days than last year, resulting in more challenging sales comparisons in December. Therefore, in order to get a meaningful assessment of this year's holiday business, it will be necessary to look at the combined sales results from November and December."
 The company operates a chain of 194 retail stores in 12 states. These stores, which do business as Pic 'N' Save and MacFrugal's, feature a variety of first-quality general merchandise obtained through manufacturer close-outs, overruns, discontinued lines and packaging changes. An ever-changing assortment of merchandise is typically sold at 40 to 70 percent off regular retail prices.
 -0- 12/5/91
 /CONTACT: Eileen Hupp of Pic 'N' Save, 213-761-4214/
 (PICN) CO: Pic 'N' Save ST: California IN: REA SU:


DM-SE -- LA002 -- 9474 12/05/91 08:00 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 5, 1991
Words:315
Previous Article:PIC 'N' SAVE REPORTS THIRD QUARTER EARNINGS OF $0.14 PER SHARE
Next Article:MERV GRIFFIN RETURNS TO TV AS HOST OF LIVE PRIMETIME NEW YEAR'S EVE SPECIAL; THE TEMPTATIONS TO PERFORM LIVE
Topics:


Related Articles
PIC 'N' SAVE SALES UP 11.6 PERCENT IN OCTOBER; COMPARABLE STORE SALES UP 10.3 PERCENT
MAC FRUGAL'S BARGAINS . CLOSE-OUTS CELEBRATES NEW NAME WITH 5 PERCENT DONATION TO THE SALVATION ARMY
PIC 'N' SAVE CORP. REPORTS $1.12 PER SHARE NET INCOME UP 98 PERCENT TO $34,215,000 FOR 1991
PIC 'N' SAVE RELEASES FEBRUARY SALES
PIC 'N' SAVE RELEASES FEBRUARY SALES
PIC 'N' SAVE REPORTS MAY SALES
PIC 'N' SAVE REPORTS APRIL SALES INCREASE 11.7 PERCENT
MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS AUGUST SALES
MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS SEPTEMBER SALES
MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS OCTOBER SALES

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters