FILENE'S BASEMENT REPORTS FEBRUARY SALES
FILENE'S BASEMENT REPORTS FEBRUARY SALES WELLESLEY, Mass., March 5 /PRNewswire/ -- Filene's Basement Corp.
(NASDAQ: BSMT) reported net sales for the four-week period ended Feb. 29, 1992, of $29.7 million, an increase of 14 percent from sales of $26.0 million for the same period in 1991. Comparable store sales for the four weeks this year were even against the same period last year.
In commenting on February results, Jim Anathan, Filene's Basement president, said, "Our core business showed positive improvement in all regions; at the same time, however, our overall business was negatively impacted by weak consumer demand for the higher priced stocks we acquired from other retailers. Sales of 'retail-stock' merchandise is heavily skewed to the February period and, therefore, has a diminishing impact as we move further into the season." Filene's Basement Corp. operates specialty stores which offer focused, quality, branded assortments of men's and women's apparel at discount prices. The company has 38 stores, three recently opened in the greater metropolitan Chicago market and the balance primarily in the Northeast corridor extending from Portland, Maine, to Philadelphia, Pa. -0- 3/5/92 /CONTACT: Jim Anathan, president of Filene's Basement Corp., 617-348-7042/ (BSMT) CO: Filene's Basement Corp. ST: Massachusetts IN: REA SU:
SH -- NE005 -- 5295 03/05/92 09:03 EST
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|Date:||Mar 5, 1992|
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