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Article: REX Stores Beat Expectations with Sales of Big Screen, Digital TVs.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 29, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. 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)
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By Jim Bohman, Dayton Daily News, Ohio Knight Ridder/Tribune Business News
Mar. 29--The stock of REX Stores Corp. climbed $1.20 per share, or 7 percent, Wednesday after the TV and appliance chain reported a 19 percent gain in full-year profits, while sales dipped 2 percent.
Stuart Rose, chairman and chief executive officer, said REX achieved the gain by promoting sales of big screen and digital TVs, rather than lower-priced products.
REX, operator of 262 REX TV and Appliance Centers in 37 states, reported net income of $22.3 million for the year ended Jan. 31, a 19 percent gain over $18.7 million last year.
Net income per share jumped ...