USA: Designs Inc Reports Retail Sales Increase of 8.3 Per Cent
Designs, Inc (NASDAQ:DESI), operator of Levi's and Dockers Outlet by Designs stores, today announced that sales for the five weeks ended Saturday, July 1, 2000, increased to $16.9 million, an increase of 8.3% over sales of $15.6 million in the corresponding period of the prior year. For the five months in the year-to-date period, sales were $68.5 million compared with sales of $68 million for the same five month period in the prior year. Comparable store sales, increased 2 per cent for the five weeks ended July 1, 2000, and decreased 2 per cent for the five month year-to-date period. Comparable stores are retail locations that have been open at least 13 months. David Levin, president and CEO of Designs, Inc, said: " We are encouraged, but cautiously optimistic with our comparable stores sales increase for June. We are extremely excited with the performance of our new stores in Puerto Rico, Orlando, FL and Nashville, TN. In addition, we have experienced dramatic increases in sales for the 10 stores remodeled in 1999 and 2000." The company expects to remodel 6 more stores during the year. Forward-looking information requires the company to make certain estimates and assumptions regarding the company's strategic direction and the effect of such plans on the company's financial results. The company's actual results and the implementation of its plans and operations may differ materially from forward-looking statements made by the company. The company encourages readers of forward-looking information concerning the company to refer to its prior filings with the Securities and Exchange Commission that set forth certain risks and uncertainties that may have an impact on future results and direction of the company. Designs, Inc operates 106 Levi's Outlet by Designs and Dockers Outlet by Designs stores. These stores are located in outlet parks and malls throughout the eastern United States.
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