AUGUST 1993 SALES INCREASE 9.7 PERCENT VENTURE STORES, INC.
O'FALLON, Mo., Sept. 2 /PRNewswire/ -- Venture Stores, Inc. (NYSE: VEN) today reported sales for Aug. 1993 (4 weeks ended Aug. 28, 1993) of $138.4 million, an increase of 9.8 percent over last August (4 weeks ended Aug. 29, 1992) sales of $126.1 million. Comparable store sales for the period decreased 3.5 percent. Year-to-date sales through August (30 weeks ended Aug. 28, 1993) were $905.0 million, an increase of 3.2 percent from $877.0 million for the same period last year (30 weeks ended Aug. 29, 1992). Year-to-date comparable store sales decreased 2.4 percent. VENTURE STORES, INC. (Millions) Periods Ended Comparable store Aug. 28, Aug. 29, Percent Percent 1993 1992 increase incr./decr. 4 Weeks $ 138.4 $ 126.1 9.8 (3.5) 30 Weeks $ 905.0 $ 877.0 3.2 (2.4) Commenting on August results, Julian Seeherman, chairman and chief executive officer said, "August was a disappointing month. Apparel sales, particularly in Back-To-School areas, were very weak. Warmer weather, compared with last year, negatively affected sales in fleece, jeans and outerwear, while denim shorts, woven shirts and short sleeved knit shirts were strong sellers. Sales for our ten new stores in Texas remain above plan. We continue to plan conservatively for the third quarter and our inventories are in balance and in line with our sales." Venture operates 103 quality discount retail stores in Illinois, Missouri, Kansas, Indiana, Oklahoma, Arkansas, Iowa, Kentucky and Texas. Venture's common stock is traded on the New York Stock Exchange under the symbol VEN. -0- 8/2/93 /CONTACT: Jack Burtelow of Venture Stores, 314-281-7800/ (VEN)
CO: Venture Stores, Inc. ST: Missouri IN: REA SU:
TS -- NY009 -- 8252 09/02/93 08:36 EDT
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|Date:||Sep 2, 1993|
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