Printer Friendly

MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS NOVEMBER SALES

 DOMINGUEZ, Calif., Dec. 2 /PRNewswire/ -- Mac Frugal's Bargains - Close-outs Inc. (NYSE: MFI) announced today that its sales for the four weeks ended Nov. 28, 1993, were $70,917,000, up 26.2 percent from $56,188,000 in the prior year. Sales in comparable stores for the four weeks were up 2.0 percent.
 Sales for the 43 weeks year-to-date were $454,314,000, an increase of 13.8 percent from the prior year's sales of $399,087,000. Year-to- date comparable store sales declined 0.40 percent.
 Leonard S. Williams, president and chief executive officer, commented that he was comfortable with the comparable store sales increase considering the ongoing recession and expansion of stores in California. He further added that the expansion had caused cannibalization of sales in existing stores with a negative impact on comparable store sales of 1.3 percent for the month.
 The company operates a chain of 232 year-round retail stores in 12 states and a chain of 165 seasonal Christmas stores in nine states. The year-round stores, which do business as Pic 'N' Save and Mac Frugal's Bargains - Close-outs, feature a wide variety of first-quality general merchandise obtained through manufacturer close-outs, overruns, discontinued lines, and packaging changes. The seasonal stores, which do business as Christmas Close-outs and Christmas Enchantments, feature a wide variety of first-quality Christmas and seasonal merchandise.
 -0- 12/2/93
 /CONTACT: Phil Carter, executive VP and CFO, 310-761-4167, or Dan Felsenthal, controller, 310-761-4104, both of Mac Frugal's Bargains - Close-outs/
 (MFI)


CO: Mac Frugal's Bargains - Close-outs Inc. ST: California IN: REA SU: SLS

JB-LS -- LA007 -- 9567 12/02/93 06:01 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 2, 1993
Words:270
Previous Article:SANDOZ PHARMACEUTICALS ANNOUNCES ADVERTISING CHANGE
Next Article:MIDWAY AIRLINES REACHES 50 PERCENT LOAD FACTOR
Topics:

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