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50-OFF STORES, INC. REPORTS APRIL AND FISCAL 1994 FIRST QUARTER SALES

 /REPEATING FROM YESTERDAY/
 SAN ANTONIO, Texas, May 6 /PRNewswire/ -- San Antonio based


off-price apparel retailer 50-OFF Stores, Inc. (NASDAQ-NMS: FOFF) today announced its net sales for the five-week period ended April 30, 1993 increased 13.7 percent to $19.9 million from $17.5 million for the same period last year. Net sales on a comparable store basis for the five-week period were down 19.6 percent. For the first quarter ended April 30, 1993, net sales increased 12.2 percent to $44.2 million from $39.4 million. Net sales on a comparable store basis were down 19.7 percent for the quarter.
 A company spokesperson stated that sales were affected by poor weather conditions and a continued negative impact on stores operating both along the Texas/Mexico border and in other cities in southwest Texas that traditionally sell products to Mexican citizens. This negative impact began in early December, when the Mexican government instituted strict enforcement of its new law which lowered from $300 to $50 the amount of duty free product that could be brought into Mexico by Mexican citizens. The spokesperson added that its sales trends have also been influenced by general economic conditions; including a sluggish economy, weak consumer confidence and less spendable income among its target customers.
 Including the 12 March openings, 50-OFF Stores, Inc. operates 110 stores in 12 states in the South. Eight stores are expected to open in August. Planned locations include single store openings in Daytona Beach, Fla.; Tulsa, Okla.; Bryan, Texas; Albany, Ga.; Tampa, Fla.; and Nogales, Ariz. Two stores are expected to open in Pensacola, Fla. This year's balance of store openings for October will be announced by the end of June. Concentrating primarily in the southeast, the company currently plans to open no more than 25 stores for the current 1994 fiscal year.
 -0- 5/6/93 R
 /CONTACT: Lucy F. Behrens of 50-OFF Stores, Inc., 210-804-4903/
 (FOFF)


CO: 50-OFF Stores, Inc. ST: Texas IN: REA SU:

TS -- NY027 -- 5842 05/07/93 10:12 EDT
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Publication:PR Newswire
Date:May 7, 1993
Words:339
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