Last year the company opened 83 units, including 14 in thefourth quarter, and brought its total to 746 stores. An additional80 location are planned for this year. Management is also lookingat slowly expanding its other two chains, the 29-unit ChristmasTree Shops and cosmetic chain Harmon Stores, which has 38locations. The company is also considering international expansion,Feinstein says.
The company turned in a strong fourth quarter, with same-storesales coming in at 6.3% year over year. Net sales for the quarter,which ended Feb. 25, were nearly $1.7 billion, up 14.8%, andearnings totaled $197.9 million, rising 13.6%.
Same-store sales for all of last year were up by 4.6%, topping a4.5% jump the year before. Net sales rose 12.9% and were just over$5.8 billion, while net earnings totaled $572.8 million, increasing16.4%.
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