SHOPKO STORES REPORTS MARCH SALES
SHOPKO STORES REPORTS MARCH SALES GREEN BAY, Wis., April 9 /PRNewswire/ -- ShopKo Stores, Inc.
(NYSE: SKO) reported sales for the five weeks ended April 4, 1992, decreased 6.5 percent to $127.3 million from $136.2 million during the same period last year. Comparable store sales decreased 6.9 percent.
For the cumulative nine weeks ended April 4, 1992, total sales decreased 0.6 percent to $230.8 million from $232.1 million for the same period last year. The company attributed the decline in March sales to the shift in the Easter holiday and to a significant number of stores participating in grand opening activities in the previous year. The company opened four new stores in March 1991, with 11 Utah stores participating in grand opening sales promotions, compared to one new store opening in March 1992. There were no additional or unexpected lower-margin promotions during the March 1992 period. "We believe a portion of the March sales decrease will be offset by April sales that will include the Easter holiday," said Dale P. Kramer, president and chief executive officer of ShopKo Stores, Inc. Earlier this month, ShopKo reported record sales and earnings for the fourth quarter and year ended Feb. 29, 1992, marking the company's eleventh consecutive year of sales and earnings increases. ShopKo Stores, Inc. is a leading regional discount store chain operating 110 stores in 13 states. -0- 4/9/92 /CONTACT: Gene Bankers, vice president of ShopKo Stores, Inc., 414-496-4158; or Amy Ludwig of Morgen-Walke Associates, 212-986-5900, for ShopKo Stores, Inc./ (SKO) CO: ShopKo Stores, Inc. ST: Wisconsin IN: REA SU:
KK -- CL002 -- 6609 04/09/92 09:09 EDT
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|Date:||Apr 9, 1992|
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