Factory 2-U Stores Inc today announced that sales for the four-week period ended August 4, 2001, were $43.6m, an increase of 24.4 per cent over sales of $35.1m for the four-week period ended July 29, 2000.

Comparable store sales for the four-week period ended August 4, 2001, decreased 4.7 per cent versus an increase of 1.6 per cent for the same period last year. In this time the company opened six new stores: one in Arkansas, one in Mississippi, two in Missouri, one in Nevada and one in Texas.

Sales for the 13 weeks ended August 4, 2001, totalled $139.3m compared with $116.7m for the same period last year, an increase of 19.3 per cent. Comparable store sales decreased 2.4 per cent against an increase of 2.7 per cent for the same period last year. For the 13 weeks ended August 4, 2001, the company opened 12 new stores.

Sales for the 26 weeks ended August 4, 2001, totalled $265.1m, compared with $225.1m for the 26 weeks ended July 29, 2000, an increase of 17.8 per cent.

Mike Searles, chairman and chief executive officer, commented: "As we enter the 'back-to-school' season, our children's division business continues to improve and, in July, was our best performing category with positive mid-single digit comparable sales. Consistent with industry trends, our men's division experienced negative double digit comparable sales and continues to be our weakest performing merchandise category."