PRFM, news is out and it is huge!!!! It hasn't been picked up by all the wire services yet!
Perfumania, Inc. Reports 11.8% Increase in February Sales
BusinessWire, Thursday, March 04, 1999 at 12:20
MIAMI--(BUSINESS WIRE)--March 4, 1999--
Comparable Store Sales Increase 1 Percent
Perfumania, Inc. (NASDAQ:PRFM), the nation's largest perfumery
chain, announced today that revenues increased by 11.8 percent for the
month of February.
The Company also announces that comparable retail store sales for
the month of February increased 1 percent over sales of February 1998.
Total retail sales for February 1999 were $8,813,500, an 11.8
percent increase over total retail sales of $7,881,681, reported in
February 1998.
Ilia Lekach, Chairman and Chief Executive Officer of Perfumania,
pointed out that this is the third consecutive month of comparable
store increases. "I believe that the new management's focus on
corporate profitability, more efficient operations, cost reduction,
restructuring, closing of under-performing stores and improvements in
store merchandise mix are proving to be effective."
Perfumania recently completed its acquisition of PostaCard.com.
It has launched its Internet web store signing marketing deals with
Yahoo! (NASDAQ:YHOO), Microsoft (NASDAQ:MSFT) Sidewalk, Lycos
(NASDAQ:LCOS) AltaVista and Modern Bride. The Company's strategy is to
take advantage of its name recognition and cross-market the Internet
web site with its 287 retail stores. Perfumania has signed letters of
intent to name Internet affiliates in other countries as well as to
franchise retail stores globally.
Perfumania, Inc. is a leading specialty retailer and wholesale
distributor of a wide range of brand name and designer fragrances with
some $180 million in annual sales. The Company operates a chain of 287
retail stores specializing in the sale of fragrances at discounted
prices up to 70 percent below the manufacturer's suggested retail
prices. The Company's wholesale division, one of the largest in the
United States, distributes fragrances and related products to national
and regional chains and other wholesale distributors throughout North
America and overseas.
This press release contains forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ materially from those set forth in the forward-looking
statements. Such risks and uncertainties are described in the
Company's filings with the SEC, including its Registration Statement
on Form SB-2.
This release is available on the KCSA Worldwide website at
www.kcsa.com.
CONTACT: Perfumania, Inc.
Ilia Lekach
305/889-1520
or
KCSA Worldwide
Joseph A. Mansi / Scott Eckstein
212/896-1205 / 212/896-1220
www.kcsa.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: RETAIL COMPUTERS/ELECTRONICS CHEMICALS/PLASTICS
INTERACTIVE/MULTIMEDIA/INTERNET COMED MERGERS/ACQ
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