Cost-U-Less Reports May 2005 Sales Results
June 01 2005 - 9:00AM
Business Wire
Cost-U-Less, Inc. (the "Company") (Nasdaq:CULS) today reported an
increase of 2.6% in same store sales (stores open a full 13
months), for the four weeks ended May 22, 2005. For the
corresponding period a year ago the Company experienced a same
store sales increase of 16.1%. For the twenty-one weeks (first
fiscal quarter plus first eight weeks of second fiscal quarter
2005) ended May 22, 2005, same store sales rose 6.1% compared to
15.6% for the corresponding period a year ago. Total sales for the
four weeks ended May 22, 2005 increased 0.8% to $15.9 million,
compared to $15.8 million for the corresponding period a year ago.
Total sales for the twenty-one weeks ended May 22, 2005 increased
4.9% to $85.5 million, compared to $81.5 million for the
corresponding period a year ago. 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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