Cost-U-Less Plans Entry into Aruba Market
15 Mai 2007 - 3:00PM
Business Wire
Cost-U-Less, Inc. (the �Company�) (Nasdaq:CULS) today announced
that it has signed a long-term lease agreement to open a new
warehouse club-style store on the island of Aruba. The store is
expected to open in 2008. Aruba is an island located approximately
19 miles off the coast of Venezuela and measures six miles across
and nineteen miles long. As of the 2005 census conducted by the
Central Bureau of Statistics, Aruba�s population is approximately
96,000. �This is a very attractive market to us on several levels,�
said J. Jeffrey Meder, the Company�s President and CEO. �First,
because of its location, Aruba complements our existing operation
in Curacao. Second, there already exists strong recognition and
demand for U.S. branded products and, finally, this is a thriving
tourism market. We have an outstanding location that we believe
will allow us to compete quite successfully.� 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.
Forward-Looking Statements 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 our revenue
growth, and our 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.
We 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 Aruba. While we believe the
Aruba market has the attributes prescribed by our existing growth
strategy, licensing restrictions and political resistance to
foreign retailers may make it difficult for us to enter this
market. In addition, we do not have operating experience in Aruba.
New markets such as Aruba may present operational, competitive,
regulatory and merchandising challenges that are different from
those we currently encounter. There can be no assurance that we
will be able to adapt our operations to support expansion into
Aruba or that the new store will be profitable. Other risks and
uncertainties that could cause actual results to differ materially
from historical results or those anticipated include our small
store base, the mix of geographic and product revenues, our
relationships with third parties, litigation, our ability to
maintain existing credit facilities and to 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 our filings with the SEC.
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