Good, solid and nothing really
unexpected to me in the results.
Comments, anyone?
FOR FURTHER INFORMATION PLEASE CONTACT:
Mark's Work Wearhouse Ltd.
Michael Lambert
Chief Financial Officer
(403) 258-7593
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: MARK'S WORK WEARHOUSE LTD.
TSE SYMBOL: MWW
MARCH 26, 1997
Mark's Work Wearhouse Announces Record Pre-Tax Earnings
of $8.3M for the Year ended January 25, 1997, an Increase
of 30 Percent Over the Prior Year
CALGARY, ALBERTA--
/T/
HIGHLIGHTS
(52 Weeks Ended January 25, 1997)
Change
$000's 1997 1996 (1) (1)(2) Per
$ $ $ cent
------------------------------
Sales - Total Retail 303,752 262,575 41,177 15.7
Sales - Mark's Work Wearhouse
Franchise Stores 60,678 64,313 (3,635) (5.7)
Sales - Work World Franchise
Stores 22,172 - 22,172 n/a
Sales - Corporate 220,902 198,262 22,640 11.4
Pre-tax earnings 8,310 6,374 1,936 30.4
Net earnings 3,923 3,117 806 25.9
Per share ($) .16 .13 .03 23.1
COMPARABLE STORE SALES increase: (Note 1)
Mark's Work Wearhouse Corporate Stores 4.2 percent
Mark's Work Wearhouse Franchise Stores 4.4 percent
(1) Effective December 1, 1996 Mark's Work Wearhouse acquired Work
World Enterprises Inc.
(2) Percentage calculation based on unrounded numbers.
/T/
FORECAST FOR UPCOMING YEAR
The Company's Forecast Range for earnings per common share for the
current fiscal year ending January 31, 1998 to be published in its
January 25, 1997 Annual Report is 17 cents to 22 cents. The
reader is cautioned that some assumptions used while preparing our
forecast range, although considered reasonable at the time of
preparation, may prove to be incorrect. The actual results to be
achieved during the forecast period will inevitably vary from the
forecast range and variations may be material.
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