From: ASAP
Gadzooks, Inc. (Nasdaq: GADZ) announced that sales for the four weeks of fiscal April ended May 4, 2002 increased 1.4 percent to $22.4 million from $22.1 million for fiscal April 2001. Comparable store sales were down 8.9 percent for the month, compared to a 2.9 percent decline for fiscal April of 2001.
Sales for the 13 weeks of the first quarter ended May 4, 2002 increased 10.6 percent to $78.3 million from $70.8 million for the first quarter of fiscal 2001. Comparable store sales declined 2.2 percent for the quarter, versus a 4.6 percent decrease for the first quarter of fiscal 2001.
The Company also reported that it was comfortable with the $0.17 first quarter consensus earnings estimate of analysts.
The Company plans to release first quarter operating results before the market opens on May 21, 2002. The Company's management team will host a conference call to review the results at 9:30 a.m. CT the same day. To listen to the call, please dial 719-457-2635 and reference confirmation number 372080, or go to the Company's website at www.gadzooks.com .
For further details, please call 972-662-4201 to listen to Gadzooks' monthly sales commentary.
Dallas-based Gadzooks, Inc. is a mall-based specialty retailer of casual apparel and related accessories for young men and women principally between the ages of 14 and 18. The Company currently operates 433 Gadzooks stores and four Orchid stores, for a total of 437 stores in 40 states.
Certain statements contained in this news release may be deemed forward- looking statements that involve risks and uncertainties. Reference is made to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended February 2, 2002, for factors that, among others, could cause the actual results of the Company to differ materially from those contained in the forward-looking statements.
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