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Technology Stocks : Nimbus CD International
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To: Don Dorsey who wrote (1574)6/4/1998 10:48:00 AM
From: Don Dorsey  Read Replies (1) of 1673
 
Musicland's business was very strong in May. This is a good indication of strong consumer demand for CDs and DVDs.

Musicland's May Comp Sales Up 9.3%

PR Newswire - June 04, 1998 07:18

MINNEAPOLIS, June 4 /PRNewswire/ -- Musicland Stores Corporation (NYSE: MLG) today said companywide comparable-store sales rose 9.3 percent for the four weeks ended May 30, 1998. The Mall Stores Division (Sam Goody/ Musicland and Suncoast Motion Picture Company) posted a comparable-store sales increase of 12.2 percent; comparable-store sales for the Superstores Division (Media Play and On Cue) rose 4.1 percent.

Jack W. Eugster, chairman and chief executive officer, said, "The popularity of DVD continued to increase in May, with DVD sales continuing to be over 10 percent of total video sales. On the music side, the new box set from Garth Brooks and the soundtrack to City of Angels were the best sellers in May."

The company's total sales for the four-week period increased 7.1 percent to $109.4 million compared to $102.2 million for the four-week period ended May 31, 1997.

Total sales for the Mall Stores Division in May increased 9.1 percent to $73.1 million versus $67.0 million last May.

In May total sales for the Superstores Division increased 4.0 percent to $35.7 million compared to $34.3 million last May.

For the 21 weeks ended May 30, 1998, Musicland's comparable-store sales increased 9.8 percent; total sales increased 6.8 percent to $614.7 million from $575.5 million in the same period last year.
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