Sales for the 26 weeks ended July 29, 2000 increased 25.5% to $900.6 million from $717.3 million in the comparable year-earlier period. Same store sales increased 4.8%.
The above figures exclude sales of the Filene's Basement Stores acquired effective March 17, 2000. Sales for these stores, excluding licensed departments, totaled $17.7 million for the four weeks ended July 29, 2000 and $89.8 million for the period March 17, 2000 through July 29, 2000.
The Company also announced that Jim McGrady has joined the Company as Chief Financial Officer. McGrady, a CPA, brings with him over 25 years of progressive financial experience. Prior to joining Value City, he was with Consolidated Stores Corporation for 14 years serving as Assistant Controller for five years and Vice President and Treasurer for the last nine years. His prior experience also includes eight years in public accounting and three years in various financial roles with an international manufacturer. McGrady succeeds Bob Wysinski, who has been promoted from Sr. Vice President to Executive Vice President - Corporate Administration and Investor Relations. Wysinski will continue to focus on communicating with the Investment Community and special strategic projects.
Value City Department Stores, Inc., is a leading off-price retailer currently operating 118 full-line department stores in the midwest, mid- Atlantic and southeastern U.S., 17 Filene's Basement Stores primarily in the northeastern U.S. as well as 64 better-branded DSW Show Warehouse Stores in major metropolitan areas throughout the country.
For
More Information Contact:
James McGrady
Phone: (614) 478-2300
Value City Department Stores, Inc.
3241 Westerville Road, Columbus, OH 43224