|
|
Article: K&G Men's Center Reports Fiscal Year and Fourth Quarter Results: For 1996 Fiscal Year Net Sales Increased 47%, Net Income Increased 44% and Comparable Store Sales Increased 14.4%; For 1996 Fiscal Year Fourth Quarter Net Sales Increased 47%, Net Income Increased 63% and Comparable Store Sales Increased 20.0%
- Article from:
- PR Newswire
- Article date:
- March 18, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
ATLANTA, March 18 /PRNewswire/ -- K&G Men's Center, Inc. (Nasdaq: MENS) reported today that net sales for fiscal year 1996 increased 46.8% to $88.1 million compared with net sales of $60.0 million for fiscal year 1995. On a comparable store basis, sales increased 14.4% for fiscal year 1996. Comparable store sales for fiscal year 1995 were 11.9%. Fiscal year 1996 was a 53-week period compared to fiscal year 1995 which was a 52-week period.
For fiscal year 1996, the Company's income before income taxes and minority interest was $7.7 million compared to $5.3 million for fiscal year 1995, a 45.2% increase. The Company incurred store opening costs of $194,000 in ...