CLOTHESTIME TO OPEN FOLSOM STORE
CLOTHESTIME TO OPEN FOLSOM STORE SACRAMENTO, 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, will open a new store in Folsom, Calif., announced John Ortega II, chairman of the board. Clothestime plans to open an additional three locations by year-end. With the recent additions, Clothestime now operates 12 stores in the Sacramento Valley.
The opening comes 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 Sacramento stores have continued to perform well," Ortega explained. "Our expansion has been meticulously planned, and we planned to fill in real estate holes so that Sacramento is saturated with Clothestime stores." Clothestime is scheduled to open a 3,420-square-foot store on April 2, 1992, in Folsom in the shopping center anchored by Walmart at Riley Street and Glenn Drive. The company is looking at other San Joaquin Valley sites for 1992 openings. "There is nothing to impede our sales progress. Our quality, value- priced merchandise format works extremely well for us in the San Joaquin Valley," Ortega continued. "Our customers know we're always in fashion and never full price." 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, 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- 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:
JL-EH -- LA011 -- 3742 04/01/92 09:05 EST
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|Date:||Apr 1, 1992|
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