prnewswire.com
>>Comparable store sales were negative 8.7% in the fourth
quarter of fiscal 1998 for the 127 stores open one year or more.<<
>>"This was a challenging quarter for CompUSA, as evidenced by our
disappointing financial results," said James F. Halpin, president and chief
executive officer. "We believe our overall performance was negatively
impacted by several factors including, among other things, the timing of the
release of Windows 98, delays in product transitions, limited product
availability and lower average selling prices for certain products."
Mr. Halpin further commented, "As we move forward, we plan to continue to
expand our capabilities in areas such as our CompUSA PC build-to-order line of
personal computers, corporate call center, and distribution and configuration
center, which we believe will position CompUSA to take advantage of future
growth opportunities."
The Company noted that it remains cautious as to business conditions for
fiscal year 1999, although it is encouraged by sales of new products and
anticipated improvements in product availability. Due, in part, to lower
average selling prices as compared to the same period of the prior year, the
Company is currently planning approximately flat comparable store sales for
the first quarter of fiscal year 1999. <<
GTW and DELL will spin this positive. Direct gaining market share. Yada yada yada!
CPU has an optimistic bunch! |
