JUNE 1993 SALES INCREASE BY 2.9 PERCENT FOR VENTURE STORES, INC.
O'FALLON, Mo., July 8 /PRNewswire/ -- Venture Stores, Inc. (NYSE: VEN) reported sales for June 1993 (five weeks ended July 3, 1993) of $147.7 million, an increase of 2.9 percent over last June (five weeks ended July 4, 1992) sales of $143.6 million. Comparable store sales for the period increased 0.8 percent. Year-to-date sales (22 weeks ended July 3, 1993) were $641.7 million, an increase of 1.2 percent from $634.4 million for the same period last year (22 weeks ended July 4, 1992). Year-to-date comparable store sales decreased 2.0 percent. VENTURE STORES, INC. (MILLIONS) PERIODS ENDED Comparable July 3, July 4, Percent Store Percent 1993 1992 Increase Increase/Decrease 5 WEEKS $ 147.7 $ 143.6 2.9 0.8 22 WEEKS $ 641.7 $ 634.4 1.2 -2.0 Commenting on June 1993 sales Julian Seeherman, chairman and chief executive officer said, "The economic climate continues to impact our sales, and June sales, while better than first quarter sales, were disappointing. Sales were much stronger toward the end of the month when the weather was more seasonal. Shoes, mens' and womens' sportswear and accessories were stand out sales performers. Despite the difficult business climate, our inventories are in line, and we are beginning to receive transition merchandise and it is selling satisfactorily. We continue to be cautious regarding business conditions for the fall season and we are planning conservatively." Venture operates 93 quality discount retail stores in Illinois, Missouri, Kansas, Indiana, Oklahoma, Arkansas, Iowa and Kentucky. Venture's common stock is traded on the New York Stock Exchange under the symbol VEN. -0- 7/8/93 /CONTACT: Jack Burtelow, 314-281-7800, for Venture Stores, Inc./ (VEN)
CO: Venture Stores, Inc. ST: Missouri IN: REA SU: ERN
SH -- NY010 -- 9342 07/08/93 08:47 EDT
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|Date:||Jul 8, 1993|
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