Sunglass Hut International Reports a 5.3% Increase in December Comparable Store Sales
Business Wire - January 07, 1999 08:01
CORAL GABLES, Fla.--(BUSINESS WIRE)--Jan. 7, 1999--Sunglass Hut International (Nasdaq:RAYS), reported today that sales for the five weeks ended January 2, 1999 were $78.5 million, an increase of 7.6% compared to the $72.9 million reported for the same period last year. Comparable store sales for the five-week period increased 5.3%.
Year to date sales for the forty-eight weeks ended January 2, 1999 increased 4.6% to $571.5 million compared to $546.5 million for the comparable period in 1997. Year-to-date comparable store sales increased 2.6%.
John X. Watson, President and Chief Executive Officer, commented, "We are pleased with our performance for the month, as we had broad based positive results from both Sunglass Hut and Watch Station in our domestic and international businesses. Our successful holiday initiatives, including catalog mailings, promotions and in-store merchandising, played a significant role in influencing this month's improved sales. Additionally, December's results demonstrate that the initiatives we put in place early in 1998, including making improvements in merchandising, rounding out a strong senior management team, and successfully closing unprofitable stores, are beginning to pay off. This reinforces our confidence that the coming year will bring the Company continued progress and success."
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