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Thursday June 4, 8:29 am Eastern Time
Company Press Release
National Record Mart Reports 13th Consecutive Increase in Same-store Sales and Total Sales for Fiscal May
PITTSBURGH--(BUSINESS WIRE)--June 4, 1998--National Record Mart, Inc. (NASDAQ: NRMI - news), today reported that its comparable store sales for the five-week period ended May 30, 1998, increased 10 percent to $8.3 million from $7.6 million in fiscal May 1997 -- the thirteenth consecutive increase in the monthly sales results for stores that had been in operation for more than a year as of May 30, 1998. Total sales rose 15 percent for fiscal May to $9.0 million in 1998 from $7.8 million in fiscal May 1997.
William A. Teitelbaum, chairman and CEO of National Record Mart, said, ''The consistent, meaningful improvement in our sales figures indicates to us that our strategies have been sound and have yielded the positive results we hoped for. We plan to keep building upon these improvements with carefully-selected new store openings and the continued development of our unique retail concepts.''
National Record Mart, the nation's sixth largest retailer of pre-recorded music, operates 152 stores in 27 states throughout the United States.
This press release contains statements of a forward-looking nature regarding future events. These statements are only predictions and actual events may differ materially. Please refer to documents that National Record Mart files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.
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Contact:
NATIONAL RECORD MART, INC.
Theresa Carlise
(412) 276-6200
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