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50-OFF STORES REPORTS SALES FOR OCTOBER AND THIRD QUARTER

       50-OFF STORES REPORTS SALES FOR OCTOBER AND THIRD QUARTER
    SAN ANTONIO, Texas, Nov. 4 /PRNewswire/ -- San Antonio based off- price apparel retailer 50-OFF Stores, Inc. (NASDAQ: FOFF) announced its October sales for the five-week period ended Nov. 1, 1991 increased 59.2 percent to $11.0 million from $6.9 million for the same period last year.  Comparable store sales were up 4.9 percent for the five-week period.  For the second quarter of the current fiscal year ended Nov. 1, 1991, sales increased 66.9 percent to $30.5 million from $18.3 million and comparable store sales were up 16.5 percent.  Sales for the thirty- nine week period ended Nov. 1, 1991 increased 71.8 percent to $83.6 million from $48.7 million and comparable store sales for the year were up 20.1 percent.
    Charles Siegel, the company's president, CEO and chairman of the board, commented on the increases.  "We continue to be encourage with our sales results especially considering the unseasonably warm weather we endured this year.  Comparable store sales for October continued to exceed company projections in spite of the warm weather and the unusually cold weather for the same month last year.  Even though we reported more impressive same store sales during August and September, we had previously stated we didn't expect the increases to continue at those levels.  In September we reported that a major Mexican holiday fell on a Monday, which contributed to the substantial increase in comparable store sales for such period.  Conversely, in October two Mexican holidays, which last year fell on Friday, fell on Saturday this year which had an adverse effect on comparable store sales."  Siegel attributes the quarterly and year-to-date increases to what management believes is the growing customer acceptance of the quality and value of the merchandise being offered as well as a concerted effort by store personnel to improve merchandise presentation and customer service.
    With the openings of its seven newest stores during September and October, the company has completed its expansion for the fiscal year ended Jan. 31, 1992 and currently operates 66 stores in Texas, Oklahoma, Louisiana and New Mexico.  The company expects to open 10 new stores during Spring 1992, including its first stores in Memphis, Tenn., (three) and New Orleans (two) with the balance in existing markets.
    -0-                        11/4/91
    /CONTACT:  Charles Siegel of 50-OFF Stores, 512-653-8000/
    (FOFF) CO:  50-OFF Stores, Inc. ST:  Texas IN:  REA SU: KD -- NY082 -- 0908 11/04/91 16:41 EST
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Publication:PR Newswire
Date:Nov 4, 1991
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