CLOTHESTIME OPENS FOUR FLORIDA STORES
CLOTHESTIME OPENS FOUR FLORIDA STORES TAMPA, Fla., March 30 /PRNewswire/ -- The Clothestime Inc.
(NASDAQ: CTME), one of the leading women's retail apparel chains with 410 stores spanning the United States, opened four new stores in Tampa Bay and Orlando, Fla., announced John Ortega II, chairman of the board. In October of 1991, Clothestime opened it 400th store in northwest Hillsborough County and, with the recent additions, now operates 53 stores in Florida and 15 in the Tampa Bay area.
The openings come on the heels of Clothestime's announcement that sales for the fourth quarter and year ended January 25, 1992 increased 25 percent to $71 million as compared to $56.6 million in the same period last year. Sales for the four weeks of February 1992 increased 17 percent to $16.9 million as compared to $14.4 million in the same period last year. Comparable store sales for the four weeks of February 1992 increased 11 percent. "Our expansion has been meticulously planned," Ortega explained. "Our Tampa Bay stores have continued to record strong sales and it is an area we have targeted for saturated growth because the demographics are similar to California. "There is nothing to impede our sales progress. Our quality, value- priced merchandise format works extremely well for us in Florida," Ortega continued. "Our customers know we're always in fashion and never full price." Clothestime opened a 3,875-square-foot location in Orlando, a 3,600-square-foot store in West Palm Beach, Fla., a 3,822-square-feet location in Tampa Bay, Fla. and a 2,700-square-foot store in Jacksonville, Fla. The company is targeting several other Florida locations including Sarasota, Homestead and Palm Harbor and plans to open a total of 12 Florida stores by the end of 1992. From its humble beginning in 1974 as a single stores in Orange, Calif., Clothestime now operates now operates 410 women's apparel stores in 16 states from California to Virginia from its Anaheim, Calif. headquarters. Offering current-season, value-priced junior sportswear, dresses and accessories, Clothestime has an emphasis on brand names at substantial discounts from full-priced department and specialty stores. The Clothestime Inc.'s common stock is traded over the counter under the NASDAQ symbol "CTME." -0- 3/30/92 /CONTACT: Jennifer Sims of Gloria Zigner & Associates, 800-669-4599, for The Clothestime Inc./ (CTME) CO: The Clothestime Inc. ST: California IN: REA SU:
EH-KJ -- LA016 -- 2980 03/30/92 15:07 EST
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|Date:||Mar 30, 1992|
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