August 04, 1999 17:16
Zany Brainy, Inc. Reports Sales for the Second
Quarter and Six Months; Comparable Store Sales
Increase 8 Percent
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Aug. 4, 1999--Zany Brainy, Inc.,
(Nasdaq National Market: ZANY), a leading specialty retailer of high quality
toys, games, books and multimedia products, today reported sales results for
its second quarter and the six-months ended July 31, 1999.
Sales for the second quarter of fiscal 1999 increased 49% to $44.1 million
compared with sales of $29.7 million for the second quarter of fiscal 1998.
Comparable store sales increased 8%.
For the six-month period ended July 31, 1999, sales increased 48% to $84.7
million compared with sales of $57.1 million for the same period last year.
Comparable store sales for the six-month period increased 9%.
"The strong sales performance for the quarter validates Zany Brainy's product
mission, which is to provide safe, fun and interactive merchandise for kids,"
stated Keith C. Spurgeon, Chairman and CEO of Zany Brainy, Inc. "In
particular, sales of core category products such as 'Young Builders', which
features building toys and trains, as well as our book category were important
drivers during the quarter. Sales from these categories were further
strengthened by in-store activities such as our annual train event in July and
our Summer Reading Club, which received record participation throughout the
chain. These sales were achieved while we were able to sustain our normal
margins for the quarter, which, along with the dedication of our expert in-store
sales staff, greatly contributed to the Company's success in its first quarter as
a public company."
Mr. Spurgeon continued, "The mid-summer, back-to-school 'Zany Zone' product
circular, which reached our customers near the end of the quarter, was
extremely well-received. We are encouraged with these initial results and
believe it will provide the Company with strong momentum going forward into
the second half of fiscal 1999."
About Zany Brainy
Zany Brainy, Inc. is a leading and rapidly growing specialty retailer of high
quality toys, games, books and multimedia products for kids. The Company is
a different kind of toy store with a unique product mission and a passionate
commitment to its customers. Zany Brainy believes learning should be fun. Its
products entertain, educate and spark the imaginations of children up to 12
years of age. The Company combines a distinctive merchandise offering with
superior customer service and daily in-store events to create an interactive,
"kid-friendly" and exciting shopping experience for children and adults. The
Company presently operates 92 stores in 24 states.
Certain statements in this report set forth management's intentions, plans,
beliefs, expectations or predictions of the future based on current facts and
analyses. Actual results may differ materially from those indicated in such
statements. Additional information on factors that may affect the business and
financial results of the Company can be found in filings of the Company with
the Securities and Exchange Commission.
CONTACT: The MWW Group
Investor Relations - 201/507-9500
Robert Ferris -- rferris@mww.com
Marjorie Kaschak - mkashak@mww.com
or
Zany Brainy, Inc.
Robert A. Helpert
610/278-7800 |
