Sales for the 53 week fiscal year ending February 3, 2001, increased 32.5% to $2,213.0 million from $1,670.2 million for the 52 week fiscal period last year. The company's same store sales decreased 2.5% for the five week period ended February 3, 2001, and decreased 1.1% for the 53 weeks ended February 3, 2001.
Total sales include Filene's Basement Stores acquired effective March 17,2000, and accordingly these sales are excluded from the calculation of comparable sales. Retail sales statistics are as follows:
| Month ended ($ in thousands) | ||||
| February 3, 2001 | January 29, 2000 | |||
| $ | % | $ | % | |
| Sales | ||||
| Value City Department Stores | $92,229 | 64.8% | $68,024 | 77.6% |
| DSW | 32,245 | 22.6 | 19,616 | 22.4 |
| Filene's Basement | 17,928 | 12.6 | -- | -- |
| $142,402 | 100.0% | $87,640 | 100.0% | |
| Comparable Sales | ||||
| Value City Department Stores | (4.2)% | 19.1% | ||
| DSW | 4.8 | 23.9 | ||
| Filene's Basement | -- | -- | ||
| (2.5)% | 20.0% | |||
Fiscal Year ended ($ in thousands) |
||||
| February 3, 2001 | January 29, 2000 | |||
| $ | % | $ | % | |
| Sales | ||||
| Value City Department Stores | $1,553,902 | 70.2% | $1,423,581 | 85.2% |
| DSW | 409,968 | 18.5 | 246,595 | 14.8 |
| Filene's Basement | 249,147 | 11.3 | -- | -- |
| $2,213,017 | 100.0% | $1,670,176 | 100.0% | |
| Comparable Sales | ||||
| Value City Department Stores | (4.3)% | 5.6% | ||
| DSW | 19.1 | 19.5 | ||
| Filene's Basement | -- | -- | ||
| (1.1)% | 7.2% | |||
Value City Department Stores, Inc. is a leading off-price retailer currently operating 119 full-line department stores in the Midwest, mid-Atlantic and southeastern U.S., 19 Filene's Basement Stores and 78 better-branded DSW Shoe Warehouse Stores in major metropolitan areas throughout the country.
The Company cautions that members of management may make certain forward-looking statements based upon the Company's current expectations or beliefs. We caution investors that our actual results may differ materially from our current expectations and beliefs based on the risk factors described in the reports we file with the SEC.
For
More Information Contact:
James McGrady
Phone: (614) 478-2300
Value City Department Stores, Inc.
3241 Westerville Road, Columbus, OH 43224