Cost-U-Less Reports October 2005 Sales Results
November 02 2005 - 9:00AM
Business Wire
Cost-U-Less, Inc. (the "Company") (Nasdaq:CULS) today reported a
decrease of 4.1% in same store sales (stores open a full 13
months), for the four weeks ended October 23, 2005, compared to
same store sales of 11.5% for the corresponding period a year ago.
Same store sales for the four weeks ended October 23, 2005 were
negatively impacted by the timing of the Company's annual
Anniversary Sale. This promotion occurred in fiscal September 2005,
whereas it occurred in fiscal October in 2004. The timing of this
promotion is estimated to have decreased fiscal October 2005 same
store sales and net sales by approximately 6-7 percent. -0- *T Same
store sales increases for the following fiscal periods were: Fiscal
Month Fiscal Year-to-date 4 weeks 43 weeks Ending October 23, 2005
(4.1%) 4.8% Ending October 24, 2004 11.5% 14.1% *T Total sales for
the four weeks ended October 23, 2005 decreased 5.6% to $15.9
million, compared to $16.9 million for the corresponding period a
year ago. As mentioned above, this decrease was due to the timing
of the Company's annual Anniversary Sale. Total sales for the 43
weeks ended October 23, 2005 increased 3.3% to $174.5 million
compared to $168.8 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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