Server: Netscape-Enterprise/2.01 Date: Fri, 19 Dec 1997 13:39:38 GMT Accept-ranges: bytes Last-modified: Tue, 12 Nov 1996 21:59:35 GMT Content-length: 2920 Content-type: text/html Gadzooks' 1996 Third Quarter Sales Up

 

Gadzooks’ 1996 Third-Quarter Sales Up 53.2 Percent on 5.9 Percent Comp-Store Gain

DALLAS, October 30, 1996--Gadzooks, Inc. (NASDAQ: GADZ), a specialty retailer of clothing and accessories for teenagers, today announced that sales for the third quarter of fiscal 1996, ended October 26, 1996, were up 53.2 percent to $31,171,000 from $20,346,000 for the fiscal 1995 third quarter ended October 28, 1995. Comparable-store sales for the third quarter of this year were up 5.9 percent for the 109 stores open for 14 full months or more.

For the first nine months of fiscal 1996, sales were up 51.9 percent to $83,161,000 from $54,753,000 for the first nine months of fiscal 1995. Comparable-store sales for the first nine months of fiscal 1996 were up 7.2 percent from a year ago.

"Gadzooks’ third quarter sales from both new and comparable stores were in line with our expectations, and the buildup in sales momentum as the quarter progressed has positioned us nicely for the upcoming Christmas season," said Jerry Szczepanski, chairman and chief executive officer. "We remain pleased with the performance of the first 20 stores we opened this spring, and the second group of 17 stores opened before the back-to-school season is also doing better than planned. Our established, comparable stores have now produced 10 consecutive quarters of positive comp-store sales.

"The continuing strong demand for junior sportswear and accessories was a major contributor to sales during the quarter," added Szczepanski. "In addition, sales were enhanced by the emerging popularity of new trends in denim products. We were able to move more of this new merchandise into the stores during the second part of the quarter and it had a positive impact on sales."

Dallas-based Gadzooks, Inc. is a specialty retailer of casual apparel and related accessories for young men and women principally between the ages of 13 and 19. Established in 1983, Gadzooks currently operates 174 mall-based stores in metropolitan and middle markets in 24 states throughout the Southwestern, Midwestern and Southeastern regions of the United States. Gadzooks is listed in the 1996 "America’s 200 Best Small Companies" compiled by Forbes Magazine.