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By Jay Hancock and Jay Hancock,Sun Staff Writer | July 8, 1994
Hechinger Co.'s sales improved last month after a disappointing May.The Landover-based home improvement chain said sales rose by 21 percent overall compared with June 1993, and increased by 4 percent in stores open for at least a year.That was far better than the May results, when the home-center company's management blamed poor weather for a 3 percent decline in same-store sales.Still, one Wall Street analyst said the results announced yesterday "were a little disappointing."Lynn Sawyer, who follows retailers for investment house NatWest Securities Corp.
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BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | June 14, 1995
WASHINGTON -- Last year, shareholders flocked to Hechinger Co.'s annual meeting to applaud the home improvement chain's improving sales and stock price. This year, sales are down, the stock price is low, and investors came bearing questions."Why is Hechinger doing worse than all its competitors in same-store sales?" asked one stockholder.Can the Landover-based company recoup sales lost during a slow spring season? another queried.And a third offered more of a statement than a question: "Last year, I didn't say a word [during the annual shareholders meeting]
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BUSINESS
By a Sun Staff Writer | December 2, 1994
Merry-Go-Round Enterprises Inc., the struggling fashion retailer based in Joppa, said sales at its stores open for at least a year declined by 7 percent last month compared with November 1993. It was the company's best monthly "same-store" result this year.But the benchmark month from last year was extremely poor, as the chain was getting closer to declaring bankruptcy. Same-store sales in November 1993 fell by 23 percent compared with the same month in 1992, so the 7 percent drop announced yesterday still represents sharply lower revenue than what the company was garnering several years ago.Merry-Go-Round sought protection from creditors under Chapter 11 of federal bankruptcy law in January.
BUSINESS
By a Sun Staff Writer | March 3, 1995
Merry-Go-Round Enterprises Inc., which has been in bankruptcy proceedings for more than a year, suffered another poor sales month in February but expects to attain its cash-flow targets for the month.February revenue was $34.6 million -- 7 percent less than what was projected in the company's business plan. Average sales per store were 5 percent below those of February 1994, a month when Merry-Go-Round was operating hundreds of unprofitable locations that it since has closed.Merry-Go-Round Chairman Thomas Shull blamed the February sales shortfall on January clearance promotions that he said left less apparel than planned on store shelves.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | June 15, 1994
WASHINGTON -- Hechinger Co.'s sales have improved this month after a disappointing May, when bad weather kept fertilizer and lawn mower buyers away, company President and Chief Executive John W. Hechinger Jr. told investors yesterday."
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | August 5, 1994
Merry-Go-Round Enterprises Inc. improved its sales results slightly again last month, but analysts said the figures were still very disappointing and didn't indicate a significant turn in the struggling retailer's fortunes.The poor results weren't unexpected. As in previous months, July sales were hurt by a supply drought earlier in the year that caused the amount of spring and summer merchandise in Merry-Go-Round's stores to be far less than normal.Sales will be watched much more closely for August and beyond, because Merry-Go-Round has said it has re-established supply lines and expects inventories to move closer to normal levels for the back-to-school and fall seasons.
BUSINESS
By a Sun Staff Writer | March 3, 1995
Merry-Go-Round Enterprises Inc., which has been in bankruptcy proceedings for more than a year, suffered another poor sales month in February but expects to attain its cash-flow targets for the month.February revenue was $34.6 million -- 7 percent less than what was projected in the company's business plan. Average sales per store were 5 percent below those of February 1994, a month when Merry-Go-Round was operating hundreds of unprofitable locations that it since has closed.Merry-Go-Round Chairman Thomas Shull blamed the February sales shortfall on January clearance promotions that he said left less apparel than planned on store shelves.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | September 2, 1994
For Merry-Go-Round Enterprises Inc., August brought more tunnel and not much light.The Joppa-based clothing retailer, struggling to emerge from Chapter 11 bankruptcy protection, extended its long losing streak yesterday with a 13 percent drop in same-store sales during a prime month of the critical back-to-school season.Total sales slipped 18 percent to $76.3 million compared with $93.5 million in August 1993. The company is operating 1,284 stores, compared with 1,451 last year, after closing "underperforming" locations.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | October 7, 1994
Merry-Go-Round Enterprises Inc. turned its first monthly profit of the year during August, giving mild encouragement to analysts and demonstrating that the fashion chain can make money with fewer clothes in its stores.But in a sign that its troubles aren't over, Merry-Go-Round's September sales results, announced yesterday, were sharply below last year's levels and below analysts' expectations.The clothier suffered a 15 percent sales decline during September, compared with the comparable period a year ago, in stores that were open during both periods.
BUSINESS
By Steve Halpen for Knight Ridder | February 27, 1991
Claire's StoresClaire's Stores (CLE, NYSE, around $15) operates a national chain of more than 1,000 stores, selling fashion accessories such as costume jewelry and gift items. Under the leadership of a president who joined the company from The Limited in 1986, sales per store have grown at an extraordinary rate in each of the past two years," says The Van Kaspar Review of San Francisco.The company's strong sales momentum slowed in late 1990. We believe . . . current depressed multiple offers an excellent buy opportunity."
BUSINESS
By a Sun Staff Writer | December 2, 1994
Merry-Go-Round Enterprises Inc., the struggling fashion retailer based in Joppa, said sales at its stores open for at least a year declined by 7 percent last month compared with November 1993. It was the company's best monthly "same-store" result this year.But the benchmark month from last year was extremely poor, as the chain was getting closer to declaring bankruptcy. Same-store sales in November 1993 fell by 23 percent compared with the same month in 1992, so the 7 percent drop announced yesterday still represents sharply lower revenue than what the company was garnering several years ago.Merry-Go-Round sought protection from creditors under Chapter 11 of federal bankruptcy law in January.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | October 7, 1994
Merry-Go-Round Enterprises Inc. turned its first monthly profit of the year during August, giving mild encouragement to analysts and demonstrating that the fashion chain can make money with fewer clothes in its stores.But in a sign that its troubles aren't over, Merry-Go-Round's September sales results, announced yesterday, were sharply below last year's levels and below analysts' expectations.The clothier suffered a 15 percent sales decline during September, compared with the comparable period a year ago, in stores that were open during both periods.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | September 15, 1994
Merry-Go-Round Enterprises Inc.'s second-quarter performance furthered the earnings slide which has plagued the retailer throughout the year, but the company is hoping that planned merchandise shifts and a new marketing campaign will boost sales in the second half of 1994.The Joppa-based clothier reported a net loss of $37.9 million, or 70 cents a share, on sales of $176 million in the second quarter ended July 30. The sales figure represents an 18 percent decline from the comparable period last year, when sales topped $214 million and the net loss amounted to $2.5 million.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | September 2, 1994
For Merry-Go-Round Enterprises Inc., August brought more tunnel and not much light.The Joppa-based clothing retailer, struggling to emerge from Chapter 11 bankruptcy protection, extended its long losing streak yesterday with a 13 percent drop in same-store sales during a prime month of the critical back-to-school season.Total sales slipped 18 percent to $76.3 million compared with $93.5 million in August 1993. The company is operating 1,284 stores, compared with 1,451 last year, after closing "underperforming" locations.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | August 5, 1994
Merry-Go-Round Enterprises Inc. improved its sales results slightly again last month, but analysts said the figures were still very disappointing and didn't indicate a significant turn in the struggling retailer's fortunes.The poor results weren't unexpected. As in previous months, July sales were hurt by a supply drought earlier in the year that caused the amount of spring and summer merchandise in Merry-Go-Round's stores to be far less than normal.Sales will be watched much more closely for August and beyond, because Merry-Go-Round has said it has re-established supply lines and expects inventories to move closer to normal levels for the back-to-school and fall seasons.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | July 8, 1994
Hechinger Co.'s sales improved last month after a disappointing May.The Landover-based home improvement chain said sales rose by 21 percent overall compared with June 1993, and increased by 4 percent in stores open for at least a year.That was far better than the May results, when the home-center company's management blamed poor weather for a 3 percent decline in same-store sales.Still, one Wall Street analyst said the results announced yesterday "were a little disappointing."Lynn Sawyer, who follows retailers for investment house NatWest Securities Corp.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | September 15, 1994
Merry-Go-Round Enterprises Inc.'s second-quarter performance furthered the earnings slide which has plagued the retailer throughout the year, but the company is hoping that planned merchandise shifts and a new marketing campaign will boost sales in the second half of 1994.The Joppa-based clothier reported a net loss of $37.9 million, or 70 cents a share, on sales of $176 million in the second quarter ended July 30. The sales figure represents an 18 percent decline from the comparable period last year, when sales topped $214 million and the net loss amounted to $2.5 million.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | June 14, 1995
WASHINGTON -- Last year, shareholders flocked to Hechinger Co.'s annual meeting to applaud the home improvement chain's improving sales and stock price. This year, sales are down, the stock price is low, and investors came bearing questions."Why is Hechinger doing worse than all its competitors in same-store sales?" asked one stockholder.Can the Landover-based company recoup sales lost during a slow spring season? another queried.And a third offered more of a statement than a question: "Last year, I didn't say a word [during the annual shareholders meeting]
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | June 15, 1994
WASHINGTON -- Hechinger Co.'s sales have improved this month after a disappointing May, when bad weather kept fertilizer and lawn mower buyers away, company President and Chief Executive John W. Hechinger Jr. told investors yesterday."
BUSINESS
By Steve Halpen for Knight Ridder | February 27, 1991
Claire's StoresClaire's Stores (CLE, NYSE, around $15) operates a national chain of more than 1,000 stores, selling fashion accessories such as costume jewelry and gift items. Under the leadership of a president who joined the company from The Limited in 1986, sales per store have grown at an extraordinary rate in each of the past two years," says The Van Kaspar Review of San Francisco.The company's strong sales momentum slowed in late 1990. We believe . . . current depressed multiple offers an excellent buy opportunity."
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