ST. LOUIS, June 4 /PRNewswire/ -- Edison Brothers Stores Inc.
(Nasdaq: EDBR) today reported same-store sales of $66.3 million for May 1998
(the four weeks ended May 30, 1998). This is a decrease of 4.9 percent from
same-store sales of $69.7 million in May 1997.
Total sales for May 1998 declined 10.7 percent to $68.3 million from
$76.5 million for the same period last year. Total sales figures reflect the
fact that Edison operated an average of 151 fewer stores during May 1998 than
in May 1997.
Year-to-date same-store sales were $265.4 million, a decrease of
3.0 percent, compared with same-store sales of $273.7 million for the same
period in 1997. Total sales declined 8.7 percent to $274.5 million compared
with total sales of $300.5 million the previous year.
"While recent sales results have been disappointing, we believe the
company is making real progress in improving the quality and quantity of
merchandise for the third and fourth quarters," Edison Chairman and CEO
Lawrence E. Honig said.
Edison Brothers Stores Inc. operates Bakers and Wild Pair footwear stores;
5-7-9 junior apparel stores; Riggings, JW, Coda, Oaktree and Repp Ltd Big &
Tall menswear stores; and Repp By Mail men's catalog. With more than
$940 million in annual sales and nearly 1,600 stores in the United States,
Canada, Puerto Rico and the Virgin Islands, Edison is one of the largest
specialty retailers of apparel, footwear and accessories in North America.
Additional information about Edison can be found on the company's Web site at
http://www.edisonbrothers.com.
Edison segments report the following sales results for the month and
year-to-date periods:
May 1998 Year to Date
Total Same-store Total Same-store
Apparel -7.4% -1.7% -6.7% -2.0%
Footwear -15.8% -11.4% -10.7% -5.2%
Total Company -10.7% -4.9% -8.7% -3.0%
SOURCE Edison Brothers Stores Inc.
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Related links:
http://www.edisonbrothers.com
CONTACT:
Jack Burtelow, CAO and CFO, 314-331-6530, or
Suzanne Roth, Communications Director, 314-331-6564, both of
Edison Brothers Stores
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