COST, MDT, JBAK.. are the only stocks that I had in my database that were worth entering this morning. SPLS is worth a watch
J. Baker, Inc. Announces 92% Increase in FirstQuarter Earnings<JBAK.O>
J. Baker, Inc. Announces 92% Increase in First
Quarter Earnings
CANTON, Mass.--(BUSINESS WIRE)--May 27, 1998--J. Baker, Inc.
(NASDAQ:JBAK) today reported results for the first quarter ended May
2, 1998.
For the three months ended May 2, 1998, the Company reported net
income increased 92% to $516,000, or $0.04 per diluted share, compared
to net income of $269,000, or $0.02 per diluted share, in the
comparable period of last year. Net sales in the Company's continuing
Casual Male, Work 'n Gear and Licensed Discount divisions for the
first quarter of fiscal 1999 were $126.6 million compared to $119.6
million for the first quarter of fiscal 1998. On a comparable store
sales basis, the Company's net sales increased 4.9%.
J.Baker has downsized its Licensed Discount division and in March,
1997, completed the sales of its Shoe Corporation of America (SCOA)
and Parade of Shoes divisions. Inclusive of SCOA and Parade of Shoes,
the Company's total sales for the three months ended May 3, 1997 were
$137.4 million.
"We are very pleased to see that our repositioning strategies are
beginning to yield results," commented Alan I. Weinstein, President
and Chief Executive Officer. "Our merchandising initiatives in all
three divisions met with positive customer response as evidenced by
our overall comparable store sales gain. Importantly, we remain on
track to complete the refurbishment of approximately 400 Casual Male
stores by the end of June. As we look ahead, we believe that our more
focused operating and growth strategies will continue to improve our
overall financial performance."
J. Baker, Inc. is a diversified retailer of apparel and footwear.
The Company operates the chain of 459 Casual Male Big & Tall stores,
specializing in casual and dress clothing and footwear for the big and
tall man, the Work'n Gear chain of 64 utility workwear, healthcare
apparel and custom uniform stores, 857 self-service licensed footwear
departments in discount department stores, and three Rx Uniforms
stores, which exclusively sell healthcare apparel. |
