"Strong music sales and the popularity of DVD contributed to the positive figures."
February Comps Jump 11.7 Percent at Musicland
CRW Business Desk
Minneapolis
12:00 p.m. EST Thurs., March 5, 1998
Musicland Stores today said companywide comparable-store sales rose 11.7 percent for the four weeks ended Feb. 28.
During the same period, the mall stores division posted a comparable-store sales increase of 12.2 percent, and comparable-store sales for the superstores division rose 10.7 percent, the retailer said.
"We are very pleased with our positive February results," Keith A. Benson, vice chairman and chief financial officer, said in a press release. "Strong music sales and the popularity of DVD contributed to the positive figures."
The retailer's total sales for the four-week period increased by 8.6 percent to $129.1 million, compared with $118.9 million for the four-week period ended March 1, 1997.
Total sales for the mall stores division in the month of February increased 9.1 percent to $84.6 million, versus $77.6 million last February, with 3 percent fewer stores this year. In February, total sales for the superstores division increased by 8.2 percent to $43.6 million, compared with $40.3 million last February, with 3 percent fewer Media Play stores this year.
For the eight weeks ended Feb. 28, Musicland's comparable-store sales increased 12.3 percent. At the same time, total sales increased by 7.7 percent to $245.2 million, up from $227.6 million in the same period last year. |
