To: P.E. Allen who wrote (14783 ) 5/7/1998 9:23:00 AM From: P.E. Allen Respond to of 34592
Thursday May 7, 8:04 am Eastern Time Company Press Release National Record Mart Reports Double-Digit Rise in Same-Store Sales and Total Sales for Fiscal April Twelfth Consecutive Increase in Monthly Comparable Store Sales PITTSBURGH, PA--(BUSINESS WIRE)--May 7, 1998-- National Record Mart, Inc. (NASDAQ:NRMI - news), today reported that its comparable store sales for fiscal April 1998 increased 14 percent to $6.8 million from $6.0 million in fiscal April 1997, ended April 28, 1998 -- the twelfth consecutive increase in the monthly figure. Results include only those s tores that had been in operation for more than a year as of April 28, 1998. Total sales rose 18 percent for fiscal April to $7.3 million in 1998 from $6.2 million in fiscal April 1997. William A. Teitelbaum, chairman and CEO of National Record Mart, commented, ''We are very encouraged that our top line is continuing to experience such significant and consistent monthly growth. It renews our commitment to our ongoing strategy of consistent profitability and expansion of our chain.'' National Record Mart, the nation's sixth largest retailer of pre-recorded music, operates 153 stores in 27 states throughout the United States. This press release contains statements of a forward-looking nature regarding future events. These statements are only predictions and actual events may differ materially. Please refer to documents that National Record Mart files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements. ------------------------------------------------------------------------