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Microcap & Penny Stocks : Ames Department Stores (AMES) -- Ignore unavailable to you. Want to Upgrade?

To: cmg who wrote (1831)	3/8/2001 1:12:04 PM
From: Art Baeckel	Read Replies (1) \| Respond to of 1911

Ames Reports February Sales ROCKY HILL, Conn., Mar 8, 2001 (BUSINESS WIRE) -- Ames Department Stores, Inc., (NASDAQ: AMES chart, msgs) today announced that net sales for the four-week period ended March 3, 2001 were $229.8 million, compared with net sales of $227.6 million in the year earlier period, an increase of 1.0 percent. Comparable-store sales for the period were $202.4 million compared with $213.7 million for the year earlier period, a decrease of 5.3 percent. This compares to a 2.0 percent increase last year. Comparable-store sales are based on 422 stores. Joseph R. Ettore, Ames Chairman and Chief Executive Officer, said, "I'm pleased our inventory management resulted in fewer markdowns this year than in February last year. As a result, we had fewer clearance items to drive overall sales and traffic. In spite of that, February sales results were on plan. Spring apparel categories did better than plan and patio sales are off to a good start." "During the month," continued Mr. Ettore, "we also finalized our new $800 million senior secured financing agreement for which GE Capital is acting as Agent. This agreement will give us improved availability and financial flexibility. While we were pleased with February's start, our stores were severely impacted this week by the storm which hit our operating area on Monday and Tuesday, causing us to fall $11 million short on sales. This will now be part of our March challenge." Ames Department Stores, Inc. and Subsidiaries Fiscal 2001 Fiscal 2000 Percent Change ----------- ----------- -------------- Month (Millions) Total Stores $229.8 $227.6 1.0 Comp Stores $202.4 $213.7 (5.3) With 447 stores located in 19 states and the District of Columbia, Ames is the nation's largest regional, full-line discount retailer with annual sales of approximately $4 billion. Ames offers a broad range of merchandise categories including family apparel, housewares, domestics, electronics, ready-to-assemble and patio furniture, jewelry, craft and pet supplies, health and beauty care items, stationery, sporting goods, toys, seasonal products and more. To find the location of the Ames store nearest you, dial 1-800-SHOP-AMES. amesstores.com espanol.amesstores.com (in Spanish) Cautionary Statement Regarding Forward-looking Information Statements, other than those based on historical facts which address activities, events, or developments that the Company expects or anticipates may occur in the future are forward-looking statements which are based upon a number of assumptions concerning further conditions that may ultimately prove to be inaccurate. Actual events and results may materially differ from anticipated results described in any forward-looking statements. The Company's ability to achieve such results is subject to certain risks and uncertainties. Consequently, these cautionary statements qualify all of the forward-looking statements and there can be no assurance that the results or developments anticipated by the Company will be realized or that they will have the expected effects on the Company or its business or operations. Contact: Ames Department Stores, Inc. Carolyn Skahill 860/257-5078 cskahill@ameshome.com amesstores.com espanol.amesstores.com (in Spanish)