Cost-U-Less Reports January 2007 Sales Results
01 Februar 2007 - 3:00PM
Business Wire
Cost-U-Less, Inc. (the �Company�) (Nasdaq:CULS) today reported a
decrease of 1.2% in same store sales (stores open a full 13
months), for the four weeks ended January 28, 2007. For the
corresponding period a year ago the Company experienced a same
store sales increase of 2.1%. Same store sales for the four weeks
ended January 28, 2007, were negatively impacted by the inclusion
of Monday, January 1, in the fiscal period, a day that all but one
of our stores were closed, whereas the same fiscal period a year
ago started on Monday, January 2. The impact of this timing
difference is estimated to have decreased fiscal January same store
sales and net sales by approximately 4-5 percent. Total sales for
the four weeks ended January 28, 2007, decreased 1.7% to $16.0
million, compared to $16.3 million for the corresponding period a
year ago. On March 12, 2007, the Company expects to announce its
financial results for the fiscal fourth quarter and fiscal year
2006 ended December 31, 2006. Cost-U-Less currently operates eleven
stores in the Caribbean and Pacific region: U.S. Virgin Islands
(2), Netherlands Antilles (2), Hawaiian Islands (2), California
(1), Guam (2), American Samoa (1), and Republic of Fiji (1). The
Company builds its business through delivering high-quality U.S.
and local goods, progressive merchandising practices, sophisticated
distribution capabilities, and superior customer service, primarily
to island markets. Additional information about Cost-U-Less is
available at www.costuless.com. This press release contains
statements that are forward-looking. These statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements, including
comparable store sales expectations, trends in or expectations
regarding the Company�s revenue growth, and the Company�s growth
plans are all based on currently available operating, financial,
and competitive information and are subject to various risks and
uncertainties that could cause actual results to differ materially
from historical results or those anticipated, including that the
Company may encounter substantial delays, increased expenses or
loss of potential store sites due to the complexities, cultural
differences, and local political issues associated with the
regulatory and permitting processes in the island markets in which
the Company may locate its stores. Prolonged adverse occurrences
affecting tourism or air travel, particularly to non-U.S.
destinations, including political instability, armed hostilities,
terrorism, natural disasters or other activity that involves or
affects air travel or the tourism industry generally, could cause
actual results to differ materially from historical results or
those anticipated. Other risks and uncertainties include the
Company�s small store base; the mix of geographic and product
revenues; relationships with third parties; litigation; the
Company�s ability to maintain existing credit facilities and obtain
additional credit; business and economic conditions and growth in
various geographic regions; pricing pressures; political and
regulatory instability in various geographic regions; and other
risks and uncertainties detailed in the Company�s filings with the
SEC.
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