VENTURE STORES REPORTS NOVEMBER SALES OF $162.2 MILLION
VENTURE STORES REPORTS NOVEMBER SALES OF $162.2 MILLION O'FALLON, Mo., Dec. 5 /PRNewswire/ -- Venture Stores, Inc.
(NYSE: VEN), reported sales for November 1991 (four weeks ended Nov. 30, 1991) of $162.2 million. The fiscal month of November 1991 is not comparable to November 1990 in that November 1990 contained an entire selling week after the Thanksgiving Day weekend, whereas November 1991 ended with the Saturday after Thanksgiving. November 1991 sales represent an increase of 6.0 percent over November 1990 (four weeks ended Dec. 1, 1990) sales of $153.0 million. Comparable store sales increased 0.6 percent for the same period.
Year-to-date sales through November 1991 were $1,162.7 million, an increase of 6.3 percent from the $1,094.2 million for the November 1990 year-to-date period. Year-to-date comparable stores sales increased 2.9 percent. VENTURE STORES, INC. (Dollars in millions) Periods Pct. Comparable Store Ended 11/30/91 12/1/90 Inc. Pct. Inc. Four weeks $ 162.2 $ 153.0 6.0 0.6 43 weeks $1,162.7 $1,094.2 6.3 2.9 Commenting on November 1991 sales, Julian Seeherman, chairman and chief executive officer said, "We are extremely pleased with November results. The loss of the one week of shopping between Thanksgiving and Christmas was partially compensated for by optimum weather conditions in early November and strong Christmas buying at the end of the month. We continue to see customers responding to quailty merchandise at value prices and we are benefiting from this. Both fall and Christmas merchandise is selling well, particularly footwear, fleece sweatshirts and pants for the entire family, trim-a-tree and toys. We are cautiously optimistic about the Christmas season, but encouraged by our early results." Venture operates 84 quality discount retail stores in Illinois, Missouri, Kansas, Indiana, Oklahoma, Arkansas, Iowa and Kentucky. -0- 12/5/91 /CONTACT: Jack Burtelow of Venture, 314-281-7800/ (VEN) CO: Venture Stores, Inc. ST: Missouri IN: REA SU:
GK -- NY020 -- 9543 12/05/91 09:48 EST
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|Date:||Dec 5, 1991|
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