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Microcap & Penny Stocks : Samuels Jewelers (SMJW) -- Ignore unavailable to you. Want to Upgrade?

To: leigh aulper who wrote (24)	1/10/2000 2:56:00 PM
From: leigh aulper	Respond to of 29

Samuels Jewelers Inc. Announces Record December Sales Results AUSTIN, Texas--(BUSINESS WIRE)--Jan. 10, 2000--Samuels Jewelers Inc. (OTC BB:SMJW), one of America's largest specialty retailers of fine jewelry, today announced record sales results for its December Holiday selling season. Samuels' total sales increased 69.4% from $28,662,000 in the 1998 December Holiday selling season to a record $48,558,000 for this year's five-week Holiday selling season. Comparable results in stores, including acquired stores open during both 1998 and 1999 showed an increase in sales of 15.7% for the Holiday selling season. "We are extremely pleased with these sales results which were strong across the board," stated Randy McCullough, Samuels President and Chief Executive Officer. "These results were especially strong in the recently acquired stores where 40% to 50% comp increases were common. The acquired stores benefited from our marketing and merchandising efforts as well as the addition of our private-label credit programs, which had not previously been offered. The Samuels stores also posted strong comparable sales increases overcoming a reduction of 8% to 10% in mix of sales on our private-label credit card business. This shift in our sales mix is the result of our continuing efforts to attract a less credit-dependent customer and the outsourcing of our private-label credit program." "Results continue to show that our merchandising and marketing efforts attract a more affluent customer. More importantly, this year we have demonstrated the ability to assimilate over 70 new and acquired stores into the Samuels Jewelers family of fine jewelers as we continue to improve our operating efficiencies." Samuels Jewelers Inc., currently operates 182 stores in 25 states throughout the country doing business as Samuels Jewelers, Samuels Diamonds, Schubach Jewelers, C & H Rauch Jewelers and Hart's Jewelers.