Ames July Sales Increased 5.9 Percent
Business Wire - August 03, 2000 08:31
ROCKY HILL, Conn.--(BUSINESS WIRE)--August 3, 2000--Ames Department Stores,
Inc. (NASDAQ: AMES) today announced net sales of $242.7 million for the four weeks
ended July 29, 2000, compared with net sales of $229.1 million in the year-earlier period, an
increase of 5.9 percent. Net sales for the thirteen-week second quarter were $872.0 million
compared with $859.9 million for the same period last year, an increase 1.4 percent. Net
sales for the twenty-six week year-to-date period were $1.703 billion, compared with
$1.676 billion in the year-earlier period, an increase of 1.6 percent.
Comparable-store sales for the period were $182.3 million, compared to $187.1 million in
the year-earlier period. This decrease of 2.6 percent is measured against a strong 7.2%
increase in the prior year period. Comparable-store sales for the month are based on 342
stores. Comparable-store sales for the thirteen-week second quarter were $632.6 million
compared with $648.8 million in the same period last year. This decrease of 2.5 percent is
measured against a 9.5 percent increase last year. For the year-to-date period
comparable-store sales were $1.160 billion against $1.171 billion last year. This decrease of
0.9 percent is measured against a 9.3 percent increase last year.
Joseph R. Ettore, Ames' Chairman and CEO, said, "We were very pleased with the
extremely successful opening results for the seven stores we opened this month in New York,
Pennsylvania, Delaware, and Chicago. Although July comp sales did not meet our
expectations, we did realize some favorable results in certain categories of merchandise
including home entertainment, infants wear and seasonal items."
Ames Department Stores, Inc. and Subsidiaries
(in millions)
Fiscal 2000 Fiscal 1999 Percent Change
Month (4 weeks)
Comp Stores $182.3 $187.1 (2.6)
Total Stores 242.7 229.1 5.9
Quarter (13 weeks)
Comp Stores 632.6 648.8 (2.5)
Total Stores 872.0 859.9 1.4
Year-to date (26 weeks)
Comp Stores 1,160 1,171 (0.9)
Total Stores 1,703 1,676 1.6
With 467 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 Department Stores, Inc.
Carolyn Skahill, 860/257-5078 or cskahill@ameshome.com |
