JULY 1993 SALES OF $125.0 MILLION FOR VENTURE STORES, INC.
O'FALLON, Mo., Aug. 5 /PRNewswire/ -- Venture Stores, Inc. (NYSE: VEN) reported sales for July 1993 (four weeks ended July 31, 1993) of $125.0 million, an increase of 7.3 percent over last July (four weeks ended Aug. 1, 1992) sales of $116.5 million. Comparable store sales for the period decreased 3.5 percent. Sales for the second quarter 1993 (13 weeks ended July 31, 1993) were up 4.2 percent to $403.1 million compared to $387.0 million a year ago (13 weeks ended Aug. 1, 1992). Comparable store sales decreased 0.5 percent for the quarter. Year-to-date sales through July (26 weeks ended July 31, 1993) were $766.7 million, an increase of 2.1 percent from $750.9 million for the same period last year (26 weeks ended Aug. 1, 1992). Year-to-date comparable store sales decreased 2.2 percent. VENTURE STORES, INC. (In millions) Comparable Periods ended Percent Store Percent 7/31/93 8/1/92 Increase Increase/Decrease 4 WEEKS $ 125.0 $ 116.5 7.3% -3.5% 13 WEEKS $ 403.1 $ 387.0 4.2% -0.5% 26 WEEKS $ 766.7 $ 750.9 2.1% -2.2% Julian Seeherman, chairman and chief executive officer said, "July was a disappointing month. A difficult economic climate, along with the effects of the "Flood of '93" on consumer shopping, made business weak in most of our markets. While none of our stores were physically damaged by the flood, 17 of our stores are in communities impacted by high waters, flood control or drinking water problems. Despite the lower than plan sales for the month, our inventories are below plan and we have less clearance merchandise than both last year and plan. On July 19, we opened 10 stores in the state of Texas and we are extremely pleased with our initial results. We are enthusiastic about our future Texas expansion plans in light of the reception given us in both the Dallas/Ft. Worth Metroplex and in the Houston markets." Venture operates 103 quality discount retail stores in Illinois, Missouri, Kansas, Indiana, Oklahoma, Arkansas, Iowa, Kentucky and Texas. Venture's common stock is traded on the New York Stock Exchange under the symbol VEN. -0- 8/5/93 /CONTACT: Jack Burtelow of Venture Stores, 314-281-7800/ (VEN)
CO: Venture Stores, Inc. ST: Missouri IN: REA SU:
SM -- NY012 -- 9711 08/05/93 08:56 EDT
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|Date:||Aug 5, 1993|
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