PIC 'N' SAVE SALES UP 11.6 PERCENT IN OCTOBER; COMPARABLE STORE SALES UP 10.3 PERCENT
PIC 'N' SAVE SALES UP 11.6 PERCENT IN OCTOBER;
COMPARABLE STORE SALES UP 10.3 PERCENT
DOMINGUEZ, Calif., Nov. 7 /PRNewswire/ -- Pic 'N' Save Corp. (NASDAQ: PICN) announced today that its sales from continuing operations for the month of October (four weeks ended Nov. 3, 1991) were $41,031,000, up 11.6 percent from $36,772,000 for the same fiscal period in the prior year. Sales from continuing operations for the 39 weeks year-to-date were $353,135,000, an increase of 9.1 percent from the prior year's sales of $323,819,000. Comparable store sales increased 10.3 percent in October. Year-to-date comparable store sales are up 2.4 percent. Sales from continuing operations exclude the company's 14 Job Lot Pushcart stores which were sold in August 1990.
"Our Halloween merchandise assortment, combined with more efficient store operations, were key factors in the company's October sales performance," commented Len Williams, president and chief executive officer. "Going into the fourth quarter, we are gearing up for the challenges presented by the company's strong sales comparisons from last year, as well as by the shorter 1991 holiday selling season."
The company, through its subsidiary PNS Stores Inc., operates a chain of 194 retail stores in 12 states. These stores, which do business as Pic 'N' Save and MacFrugal's, 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 - 70 percent off regular retail prices.
/CONTACT: Eileen Hupp, assistant VP-marketing of Pic 'N' Save, 213-761-4214/
(PICN) CO: Pic 'N' Save Corp. ST: California IN: REA ST: SE-KJ -- LA004 -- 2025 11/07/91 08:01 EST