PIC 'N' SAVE RELEASES FEBRUARY SALES
PIC 'N' SAVE RELEASES FEBRUARY SALES DOMINGUEZ, Calif., March 5 /PRNewswire/ -- Pic 'N' Save Corp.
(NASDAQ: PICN) announced today that its sales for the four weeks ended March 1, 1992, were $32,640,000, up 3.4 percent from $31,554,000 in the prior year. Sales in comparable stores for the four weeks of February increased 2.8 percent.
"Our February sales were adversely impacted by the severe winter storm conditions and flooding experienced in our core California markets, as well as in several other Southwestern markets," commented Len Williams, president and chief executive officer. "In addition, our apparel business has softened, reflecting a general trend in the industry." The company operates a chain of 193 retail stores in 12 states. These stores, which do business as Pic 'N' Save and Mac Frugal's - Bargains Close-outs, feature a variety of first-quality general merchandise obtained through manufacturer close-outs, overruns, discontinued lines and packaging changes. An ever-changing assortment of merchandise is typically sold at 40 percent to 70 percent off regular retail prices. -0- 3/5/92 /CONTACT: Eileen Hupp, assistant VP-marketing of Pic 'N' Save, 310-761-4214/ (PICN) CO: Pic 'N' Save Corp. ST: California IN: REA SU: :: END
DM-KJ -- LA005 -- 5247 03/05/92 08:04 EST
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|Date:||Mar 5, 1992|
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