RAYS released some numbers today...
Sunglass Hut International Reports a 0.6% decrease in March Comparable Store Sales
CORAL GABLES,FLA. (April 10) BUSINESS WIRE -April 10, 1997--Sunglass Hut International (NASDAQ:RAYS) reported today that sales for the fiveweeks ended April 5, 1997 were $57.5 million, an increase of 16%compared to the $49.6 million reported for the same period last year.Comparable store sales for the five-week period decreased 0.6%.
Year-to-date sales for the nine weeks ended April 5, 1997 increased
13.8% to $93.8 million. This compares to sales of $82.5 million for
the same period in 1996. Year-to-date comparable store sales decreased 3.4%.
"We are pleased to see the positive results of the action plan which we put in place to re-energize the core sunglass business," said Jack B. Chadsey, President and Chief Executive Officer. "Our focus on
identifying and expediting new product for our stores, changing
point-of-sale and presentation techniques at store level to feature
newness, and ensuring all associates are properly trained to provide
the highest level of service, should continue to provide the momentum necessary to drive the business in 1997."
Sunglass Hut International is the world's largest specialty retailer of
sunglasses with stores located throughout the United States, Canada,
the Caribbean, Europe, Australia, New Zealand, Hong Kong and Singapore. As of April 5, 1997, Sunglass Hut operated 2,027 sunglass specialty locations, 28 EyeX optical stores and 59 Watch Station stores.
Sunglass Hut International's news releases and selected financial data are available at no charge through Business Wire's News-On- Demand Plus service. For a menu of available information or to retrieve specific information, call 800/311-4602. -0-
This press release may contain forward-looking statements which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements. Those risks
include, but are not limited to, the Company's ability to identify and
take advantage of changing fashion trends, the Company's ability to
manage growth, the Company's concentration of suppliers and the
potential impact of changes in vendor's purchase terms and policies,
gross margin pressures, the Company's ability to implement its planned
corporate restructuring, changes in the level of global consumer demand and/or spending, dependence on key personnel and the other Risk Factors set forth in the Company's Prospectus dated June 20, 1996. All forward-looking statements should be considered in light of these risks and uncertainties.
--30--cp/mi*
CONTACT: Sunglass Hut International, Inc., Coral Gables
Jack B. Chadsey, President and CEO
Larry G. Petersen, CFO
800/767-0990, ext. 6225
KEYWORD: FLORIDA INDUSTRY KEYWORD: RETAIL EARNINGS REPEATS: New York
212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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Sam |
