USA: ShopKo May Retail Sales Increased 31.5%
ShopKo Stores, Inc. (NYSE: SKO) reported total retail sales for the four weeks ended May 27, 2000 increased 31.5 percent to $270.9 million from $206.0 million during the same period last year. Included in current year results are $11.4 million in sales from 15 new ShopKo stores, which are currently not included in ShopKo's comparable store sales base, and $64.7 million in sales from 165 Pamida discount stores. The Pamida discount chain was acquired on July 6, 1999. ShopKo retail comparable store sales generated a 1.0 percent increase over a strong 9.5 percent increase for the same period last year. For the month of June, ShopKo retail comparable store sales gains are anticipated to be in the 0-3 percent range over a robust 13.1 percent increase for the same period last year. The company remains confident in the annualized ShopKo retail comparable store sales gains of 3-5 percent. Total retail sales for the cumulative seventeen weeks ended May 27, 2000 increased 36.0 percent to $1,020.5 million from $750.4 million for the same period last year. ShopKo retail comparable stores sales increased 2.2 percent over an 8.4 percent increase for the same period last year.
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