Ames Reports October Sales; Also Reports Record
Layaway Sales
Business Wire - November 02, 2000 08:03
ROCKY HILL, Conn.--(BUSINESS WIRE)--Nov. 2, 2000--Ames Department Stores,
Inc. (NASDAQ: AMES) today announced net sales of $331.8 million for the four weeks
ended October 28, 2000, compared with net sales of $328.6 million in the year-earlier
period, an increase of 1.0 percent. Net sales for the thirteen-week third quarter were $920.3
million compared with $883.5 million for the same period last year, an increase of 4.2
percent. Net sales for the thirty-nine week year-to-date period were $2.623 billion,
compared with $2.559 billion in the year-earlier period, an increase of 2.5 percent.
Comparable-store sales for the period were $273.7 million compared to $281.4 million last
year, a decrease of 2.7 percent, measured against a 2.5 percent increase in the year earlier.
Comparable- store sales for the month are based on 396 stores. Comparable-store sales for
the thirteen-week third quarter were $742.0 million compared with $762.0 million for the
third quarter last year, a decrease of 2.6 percent. For the year-to-date period
comparable-store sales were $1.902 billion against $1.932 billion for the same period last
year, a decrease of 1.6 percent.
Joseph R. Ettore, Ames' Chairman and CEO, said, " Layaway transactions, accounted for
under the new SEC guidelines, reduced total reported sales in October 2000 by nearly $37
million, the highest layaway effect recorded by the Company. These transactions will be
reflected in our reported sales results when our customers pick up the goods in late
November and early December."
Mr. Ettore continued, "October's comp sales results were lower than planned, but we were
pleased to see a trend during the month of stronger sales each succeeding week. Also, our
Toy Book sale, which began last Wednesday, October 25, has been performing above both
our expectations and last year's levels."
A conference call to discuss third quarter results is scheduled for 10:30 AM on November 9,
2000 and will be available to the public live on our web site at www.amesstores.com.
Ames Department Stores, Inc. and Subsidiaries
Fiscal 2000 Fiscal 1999 Percent Change
----------- ----------- --------------
Month (5 weeks)
(Millions)
Total Stores $331.8 $328.6 1.0
Comp Stores $273.7 $281.4 (2.7)
Quarter (13 weeks)
(Millions)
Total Stores $920.3 $883.5 4.2
Comp Stores $742.0 $762.0 (2.6)
Year-to date (35 weeks)
(Billions)
Total Stores $2.623 $2.559 2.5
Comp Stores $1.902 $1.932 (1.6)
With 479 stores located in 19 states and the District of Columbia, Ames is the nation's largest
regional, full-line discount retailer with annual sales of over $4 billion. Ames offers a broad
range of merchandise categories including family apparel, housewares, domestics, electronics,
ready-to-assemble and patio furniture, jewelry, craft and pet supplies, health and beauty care
items, stationery, sporting goods, toys, seasonal products and more.
For fax copies of Ames' most recent news releases, dial 1 800 925 7792.
To find the location of the Ames store nearest you, dial 1-800-SHOP-AMES.
amesstores.com espanol.amesstores.com (in Spanish)
Cautionary Statement Regarding Forward-looking Information
Statements, other than those based on historical facts which address activities, events, or
developments that the Company expects or anticipates may occur in the future are
forward-looking statements which are based upon a number of assumptions concerning
further conditions that may ultimately prove to be inaccurate. Actual events and results may
materially differ from anticipated results described in any forward-looking statements. The
Company's ability to achieve such results is subject to certain risks and uncertainties.
Consequently, these cautionary statements qualify all of the forward-looking statements and
there can be no assurance that the results or developments anticipated by the Company will
be realized or that they will have the expected effects on the Company or its business or
operations.
Contact: Ames
Carolyn Skahill, 860/257-5078
cskahill@ameshome.com |
