LAMONTS TO OPEN STORE IN ASTORIA, ORE.
BELLEVUE, Wash., June 23 /PRNewswire/ -- Lamonts Apparel Inc. (NASDAQ: LMNT) announced today its intent to open a store in Astoria, Ore. Lamonts first entry into the Oregon coast area will be a 25,000-square-foot store set to open in early November 1993. Lamonts executive vice president of Property Development, Peter Aaron, stated agreement has been reached in principle with the owners of Young's Bay Plaza, in Warrenton, for Lamonts to occupy an existing space in that center. Aaron said plans are progressing for a complete remodel of the space to accommodate Lamonts needs to merchandise fashion for men, women and children. According to Aaron, the potential for Lamonts in Astoria is great. "In the absence of any regional retail facility within a 75-mile radius, Lamonts has a unique opportunity to quickly establish itself as the leading fashion retailer to the extended trade area of Northwest Oregon and Southwest Washington." This announcement is in line with plans unveiled at Lamonts annual meeting held in February of this year. At that time, Lamonts chief executive officer, Leonard M. Snyder, stated that a significant part of Lamonts expansion would be into mid-size markets where Lamonts can recover existing real estate and quickly establish itself as the leading fashion apparel retailer. Earlier this year, Lamonts announced an August 1993 opening of a store in Moses Lake, Wash. Lamonts also announced that it will close its Clackamas Promenade store in the greater Portland, Ore., market during the latter part of August. Of the decision to close that store, Snyder stated that Lamonts did a thorough analysis of the market and determined that the company could serve the Portland market as well by concentrating efforts on its five other Portland/Vancouver locations, while improving its overall profitability. Lamonts, a leading specialty apparel retailer, operates 51 full line and five Lamonts for Kids stores throughout the Pacific Northwest, Alaska, the Intermountain states and the Upper Midwest. -0- 6/23/93 /CONTACT: Brent Frerichs, vice president, of Lamonts, 206-644-5780/ (LMNT)
CO: Lamonts Apparel Inc. ST: Washington IN: REA SU:
SW -- SE006 -- 4997 06/23/93 12:15 EDT
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|Date:||Jun 23, 1993|
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