Printer Friendly

INTELLIGENT ELECTRONICS REPORTS 32 PERCENT INCREASE IN BIZMART SAME STORE SALES

 INTELLIGENT ELECTRONICS REPORTS 32 PERCENT
 INCREASE IN BIZMART SAME STORE SALES
 EXTON, Pa., Aug. 6 /PRNewswire/ -- Intelligent Electronics Inc. (NASDAQ-NMS: INEL), announced today that its chain of BizMart supercenters increased same store cash register sales 32 percent during the four-week period ending Aug. 1, 1992.
 Fifty-eight BizMart supercenters have been opened a year or more and are included in the calculation, which reflects all company-owned and franchise sales through BizMart's registers. The growth figure compares to same store sales increases of 14 percent reported for the same four-week period last year. The period concluded the company's second quarter, with BizMart cash registers posting 37 percent quarterly same store sales increases, compared to 18 percent during the prior-year quarter.
 One year ago, BizMart launched a store rollout and enhancement program featuring an expanded product category of name-brand computers and computer products. At the close of this July period, sales of computers and related products accounted for approximately 34 percent of BizMart's cash register sales. Comparable store sales of traditional office products lines were up 13 percent.
 The company said customers have enthusiastically responded to BizMart's concept of offering complete office products solutions to offices, at home or at work, in a superstore environment. "Our solid same store sales growth reflects the success of our strategy," said Richard D. Sanford, Intelligent's chairman and chief executive officer.
 During July, BizMart opened four supercenters in Oklahoma City; Ft. Myers, Fla.; Bellevue, Wash.; and Baltimore. On Aug. 2, the company brought its total supercenter count to 95 with the opening of three supercenters in Campbell, Calif.; St. Louis; and Lincoln, Neb. By the end of its fiscal year, Jan. 30, 1993, the company expects to have 100 to 105 BizMart locations in operation.
 Intelligent Electronics, a leading source of office productivity solutions, operates three divisions: Consumer Retail, Reseller Network, and Distribution Services. BizMart's 95 supercenters offer value-priced products and services for offices, at home or at work, through more than 1.9 million square feet of retail selling space nationwide.
 /delval/
 -0- 8/6/92
 /CONTACT: Patrice W. Johnson of Intelligent Electronics, 215-458-6706/
 (INEL) CO: Intelligent Electronics, Inc.; BizMart ST: Pennsylvania IN: REA SU:


MJ -- PH005 -- 7493 08/06/92 10:11 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 6, 1992
Words:368
Previous Article:OAK HILL SPORTSWEAR REPORTS EARNINGS
Next Article:CPAC FIRST QUARTER SALES AND PROFITS UP SHARPLY
Topics:


Related Articles
BIZMART CONTRIBUTES EARNINGS IN FIRST FULL QUARTER UNDER INTELLIGENT; INTELLIGENT ELECTRONICS POSTS 30 PERCENT EARNINGS GROWTH
BIZMART CONTRIBUTES $1 MILLION TO NET INCOME; INTELLIGENT POSTS 33RD RECORD-BREAKING QUARTER
BIZMART REVENUES SOAR 148 PERCENT -- EARNINGS SKYROCKET TO $1 MILLION
INTELLIGENT ANNOUNCES 47 PERCENT INCREASE IN BIZMART'S FEBRUARY SAME STORE SALES
INTELLIGENT ELECTRONICS REPORTS 39 PERCENT INCREASE IN BIZMART SAME STORE SALES
INTELLIGENT ELECTRONICS REPORTS 42 PERCENT INCREASE IN BIZMART SAME STORE SALES
INTELLIGENT ELECTRONICS BOLSTERS EXECUTIVE TEAM
INTELLIGENT ELECTRONICS ANNOUNCES SECOND QUARTER RESULTS
BIZMART COMPUTER SUPERSTORES FIRST TO CARRY PC-BASED DOCUMENT IMAGING SOFTWARE
NEWS BRIEFS.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters