Odd's-N-End's reports year-end results

Odd's-n-End's, Inc. (NASDAQ: ODDE), a Buffalo based close-out retailer today reported record sales of $10,730,000 for the fourth quarter ended January 31, 1994, an 11.8% increase over sales of $9,599,000 during the fourth quarter of the prior year. Sales for the year ended January 31, 1994...

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Bibliographic Details
Published inPR Newswire p. 1
Main Author Clark, John H
Format Newsletter
LanguageEnglish
Published New York PR Newswire Association LLC 03.03.1994
Subjects
Clothing industry
Financial statements
Middle Atlantic
Retailing industry
United States > US
NY
Buffalo
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Summary:Odd's-n-End's, Inc. (NASDAQ: ODDE), a Buffalo based close-out retailer today reported record sales of $10,730,000 for the fourth quarter ended January 31, 1994, an 11.8% increase over sales of $9,599,000 during the fourth quarter of the prior year. Sales for the year ended January 31, 1994 were $33,398,000, representing a 30% increase over sales of $25,671,000 for its prior fiscal year. John H. Clark, President, stated that in an attempt to increase store sales, the Company expanded into fashion apparel. Mr. Clark stated that the Company has been very disappointed with fashion apparel sales and as a result is exiting the fashion apparel business. In addition, Mr. Clark indicated that the Company over purchased in its general merchandise lines in anticipation of projected sales that did not materialize. As a result, the Company has had a substantial decrease in gross profit margin and inventory write-down resulting from disposal of the over purchased merchandise and the remaining fashion apparel stock. (excerpt)