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Non-Tech : CompUSA (CPU) -- Ignore unavailable to you. Want to Upgrade?

To: epicure who wrote (722)	10/7/1998 4:21:00 PM
From: Linda Kaplan	Respond to of 3187

Yahoo met whisper number. Raytheon (whoever they are) (maybe mobil home dealers) warned. --L

To: epicure who wrote (722)	10/7/1998 4:21:00 PM
From: Logistics	Read Replies (1) \| Respond to of 3187

ompUSA Inc. Reports Sales For the First Quarter of Fiscal 1999 DALLAS, Oct. 7 /PRNewswire/ -- CompUSA Inc. (NYSE: CPU) today announced sales for the first quarter of fiscal 1999, ended September 26, 1998. Net sales for the first quarter increased 18% to $1.40 billion from $1.19 billion for the comparable period ended September 27, 1997. Comparable store sales were negative 1.7% in the first quarter of fiscal 1999 for the 134 CompUSA stores open one year or more. As previously announced, the Company acquired the Computer City chain from Tandy Corporation on August 31, 1998. Subsequent to the announcement of the Computer City acquisition, CompUSA closed an additional five Computer City stores, increasing the number of Computer City stores closed to 55. The Company's net sales for the first quarter of fiscal 1999 include sales for the month of September for the 46 former Computer City stores the Company is continuing to operate. Computer City store sales are not included in the comparable store sales calculation. "Although the selling environment improved from the fourth quarter of fiscal year 1998, we believe lower average selling prices, continued softness of corporate sales, and the impact of the liquidation sales related to the Computer City store closings all had a negative effect on our sales results," said James F. Halpin, president and chief executive officer. "On the positive side, we were extremely pleased with the introduction of Apple's iMac system and the continuing demand for systems equipped with Windows 98." Mr. Halpin further commented, "Our Computer City integration plan is proceeding smoothly. We have converted more than half of the continuing Computer City stores to CompUSA's store systems and anticipate completing the conversion of the remaining U.S. stores within two weeks. We are also actively implementing CompUSA's merchandise assortment in the Computer City stores. Regarding the closed Computer City stores, we ended the liquidation sales on Monday and are now totally focused on absorbing the on-going stores into the CompUSA chain." The Company plans to announce operating results for the fiscal 1999 first quarter ended September 26, 1998 in early November. CompUSA is one of the nation's leading retailers and resellers of personal computers and related products and services. The Company currently operates over 200 CompUSA Computer Superstores(SM) in more than 75 major metropolitan markets across the United States, and seven Computer City Supercenters(R) in Canada, which serve retail, corporate, government and education customers and include technical service departments and classroom training facilities. CompUSA also offers its own build-to-order line of personal computers, the CompUSA PC(TM), and operates an Internet web site located at www.compusa.com. This press release contains forward-looking statements about the business, financial condition, and prospects of the Company. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including without limitation, changes in product demand, the availability of products, changes in competition, economic conditions, the Company's recent acquisition of Computer City, various inventory risks due to changes in market conditions and other risks indicated in the Company's Securities and Exchange Commission filings and reports. All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this press release, the words "believes," "plans," "expects," "intent," and "anticipates" and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. SOURCE CompUSA Inc. CO: CompUSA Inc. ST: Texas IN: REA CPR SU: SLS 10/07/98 16:08 EDT prnewswire.com