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VALUE MERCHANTS, INC. SALES INCREASE 53.3 PERCENT IN JUNE; COMPARABLE STORE SALES DECLINE FROM SAME FIVE-WEEK PERIOD A YEAR AGO

 VALUE MERCHANTS, INC. SALES INCREASE 53.3 PERCENT IN JUNE; COMPARABLE STORE SALES DECLINE FROM SAME FIVE-WEEK PERIOD A YEAR AGO
 MILWAUKEE, July 9 /PRNewswire/ -- Sales of Value Merchants, Inc. (NYSE: VMI) for the five weeks ended July 4, 1992, for its retail and wholesale operations, increased 53.3 percent to $24.9 million from $16.2 million a year ago. Year-to-date revenues through the first 22 weeks of the fiscal year were 62.7 percent ahead of a year ago, totaling $96.4 million compared with $59.3 million a year ago.
 Value Merchants, Inc. is a value retailer of close-out merchandise and the nation's largest wholesaler of close-out toys. The company's retail divisions operated 419 stores at the close of the five-week period, compared with 239 stores a year ago, including 300 Everything's $1.00 variety retail stores (compared with 136 a year ago) and 119 Toy Liquidators toy stores (compared with 103 a year ago.)
 Comparable store sales for Everything's $1.00 (104 stores) decreased 9.4 percent for the five-week period from a year ago while total sales for Everything's $1.00 were 108.7 percent ahead of a year ago.
 Toy Liquidators reported a 6.7 percent decrease in comparable store sales for the period (91 stores) with total sales increasing 4.1 percent from a year ago.
 The decrease in comparable store sales primarily reflects a decrease in retail traffic and the negative sales impact of July 4th falling on a Saturday. The following table summarizes the sales performance for the five-week and 22-week periods:
 Net Sales -- Total Operations
 (In Millions)
 Five Weeks Ended 22 Weeks Ended
 7/4/92 7/6/91 Pct. Inc. 7/4/92 7/6/91 Pct. Inc.
 $24.9 $16.2 53.3 $96.4 $59.3 62.7
 Net Sales -- Retail Operations
 Percentage Increase from Prior Year
 Everything's A $1.00
 No. of Stores Pct. Inc.
 1992 1991 June 22 Weeks
 Comparable Stores 104 104 (9.4) (3.3)
 Total Stores 300 136 108.7 119.7
 Toy Liquidators
 No. of Stores Pct. Inc.
 1992 1991 June 22 Weeks
 Comparable Stores 91 91 (6.7) (4.6)
 Total Stores 119 103 4.1 8.8
 Note: Comparable Stores are all stores opened prior to February 1991.
 -0- 7/9/92
 /CONTACT: Gary I. Kastel, director of communications for Value Merchants, Inc., 414-274-2976/
 (VMI) CO: Value Merchants, Inc. ST: Wisconsin IN: REA SU:


KK -- CL005 -- 7696 07/09/92 08:07 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
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