CLOTHESTIME OPENS SEVEN SOUTHERN CALIFORNIA STORES
CLOTHESTIME OPENS SEVEN SOUTHERN CALIFORNIA STORES ANAHEIM, Calif., April 1 /PRNewswire/ -- The Clothestime Inc.
(NASDAQ: CTME), one of the leading women's retail apparel chains with 410 stores spanning the United States, opened seven new stores in Southern California, announced John Ortega II, chairman of the board. Clothestime plans to open an additional five locations by year end. With the recent additions, Clothestime now operates 113 stores in Riverside, Los Angeles and Orange Counties.
The openings come on the heels of Clothestime's announcement that sales for the fourth quarter and year ended Jan. 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 Southern California stores have continued to perform well," Ortega explained. "Our expansion has been meticulously planned. We plan to fill in real estate holes so that Southern California is completely saturated. "There is nothing to impede our sales progress. Our quality, value- priced merchandise format works extremely well for us in Southern California," Ortega continued. "Our customers know we're always in fashion and never full price." Clothestime opened a 5,500-square-foot store on Feb. 29, 1992, in Rancho Cucamonga at Foothill and Haven Roads; a 3,801-square-foot store on March 12, 1992, in Chatsworth at Topanga Canyon and Roscoe Blvd.; and a 2,600-square-foot store on March 31, 1992, in Banning at Interstate 10 and Highland Springs Avenue. Southern California stores slated for April and May openings include a 3,840-square-foot location set to open April 10, 1992, in Perris at Perris Boulevard and Orange Avenue; a 3,300-square-foot location will open on April 23, 1992, in Agoura Hills at Kanan Road and Thousand Oaks Boulevard; a 5,932-square-foot location is scheduled to open on April 30, 1992, in Cathedral City at Date Palm Drive and Ramon Road; and a 3,600-square-foot store will open on May 14, 1992, in Trabuco Hills at Santa Margarita Parkway and Marguerite Parkway. The company is targeting several other Southern California locations in the Los Angeles metropolitan area. From its humble beginning in 1974 as a single store in Orange, Calif., Clothestime now operates 410 women's apparel stores in 16 states from California to Virginia from its Anaheim 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- 4/1/92 /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-JL -- LA010 -- 3741 04/01/92 09:04 EST
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|Date:||Apr 1, 1992|
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