INTELLIGENT ELECTRONICS REPORTS BIZMART SALES
INTELLIGENT ELECTRONICS REPORTS BIZMART SALES EXTON, Pa., Nov. 5 /PRNewswire/ -- Intelligent Electronics Inc.
(NASDAQ-NMS: INEL), announced today that its chain of 102 BizMart supercenters increased year-over-year cash register sales 63 percent for the quarter and 40 percent for the 4-week period ending Oct. 31.
Cash register sales rose to $181 million from $111 million for the quarter and to $49 million from $35 million for the same month a year ago. Oct. 31 concluded Intelligent's third fiscal quarter, with BizMart cash registers posting 18 percent quarterly same store sales increases, compared to 25 percent increases during the prior-year quarter. Same store sales for the month grew 2 percent vs. 27 percent a year ago. Sixty-five BizMart supercenters had been opened a year or more and were included in the calculation, which reflects all company-owned and franchisee sales through BizMart's registers. October 1992 represented the anniversary of BizMart's launch of name-brand computers into its supercenters. During October a year ago, the chain enhanced and re-grand-opened 24 supercenters, featuring computer departments with Apple, Compaq, Hewlett-Packard, and IBM products. By this time last year, BizMart had enhanced 54 of its 69 supercenters. During October, BizMart's comparable store sales of traditional office products lines increased 7 percent. Intelligent Electronics operates three divisions: Consumer Retail, Reseller Network, and Distribution Services. BizMart supercenters offer value-priced products and services for offices, at home or at work, through more than 2 million square feet of retail selling space nationwide. /delval/ -0- 11/5/92 /CONTACT: Patrice W. Johnson, vp-Corporate Communications and Marketing of Intelligent Electronics, 215-458-6706/ (INEL) CO: Intelligent Electronics, Inc.; BizMart ST: Pennsylvania IN: REA SU:
MJ -- PH035 -- 7879 11/05/92 16:01 EST
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|Date:||Nov 5, 1992|
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