Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: Arthur Tang who wrote (1864)	7/12/2001 10:41:07 AM
From: Art Baeckel	Read Replies (1) of 1911

Not the greatest news, but what else is new! ART ROCKY HILL, July 12 (Reuters) - Discount retailer Ames Department Stores Inc. (AMES) on Thursday said that June sales at stores open at least one year fell 4.8 percent, hurt by the slowing economy. The Rocky Hill, Connecticut-based company, which operates more than 400 stores, said total sales for the five-week period ended July 7 fell 5.4 percent to $327.6 million compared with net sales of $346.3 million in the year-earlier period. "The slowing economy coupled with waning consumer confidence impacted our customers' spending habits during the month of June," said Joseph R. Ettore, Ames Chairman and Chief Executive Officer, in a statement. "However, our margins remain above last year's levels and SG&A (selling, general and administrative) expenses as a percent of sales also continue to show improvement." REUTERS Rtr 08:29 07-12-01 Selector Code: reucoCopyright 2001, Reuters News Service

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