PIC 'N' SAVE REPORTS APRIL SALES INCREASE 11.7 PERCENT
PIC 'N' SAVE REPORTS APRIL SALES INCREASE 11.7 PERCENT DOMINGUEZ, Calif. May 7 /PRNewswire/ -- Pic 'N' Save Corp.
(NASDAQ: PICN) announced today that its sales for the four weeks ended May 3, 1992, were $37,000,000 up 11.7 percent from $33,121,000 in the prior year. Sales in comparable stores for the four weeks were up 10.9 percent. Sales for the 13 weeks (first fiscal quarter) year-to- date were $114,057,000, an increase of 3.6 percent from the prior year's sales of $110,051,000. Year-to-date comparable store sales increased 2.9 percent.
"Strong customer response to our seasonal Easter merchandise contributed to April's sales increase," commented Len Williams, president and chief executive officer. "Our sales performance early in the month was positive enough to offset the negative impact of the civil unrest which occurred in Los Angeles over the last five days of the fiscal month." Elaborating further on the recent civil unrest in the Los Angeles area, Williams said that the company was fortunate to sustain damage in only six units and that all stores reopened for normal business hours on Monday, May 4. "Close to 40 stores, however, were impacted by the civil disturbances and curfew at various points over the last five days of fiscal April," added Williams. 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 wide 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- 5/7/92 /CONTACT: Eileen Hupp, assistant VP-marketing of Pic 'N' Save, 310-761-4214/ (PICN) CO: Pic 'N' Save Corp.; Mac Frugals Bargains - Close-outs ST: California IN: REA SU:
EH-JL -- LA007 -- 7417 05/07/92 08:02 EDT
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|Date:||May 7, 1992|
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