In light of its record performance, during a conference call,management raised its guidance to call for comp-store salesincreases of between 1% and 3% for each of the coming quarters ofthis year. It now anticipates an increase of from 42% and 47% infull-year 2007 income, compared with 2006.

Seasonal merchandise, furniture, electronics and consumables ledsales during the quarter, said Steve Fishman, chairman, presidentand CEO, during a conference call. He cited consumer electronics ingeneral and TVs in particular as "big deals" that would beavailable for the locally based retailer in coming months.

"There's a lot of chaos going on that that market now," he said."Within the past seven to 10 days, a lot of deals have been poppingup. We anticipate (obtaining) some great value and brand names," headded, but declined to disclose where these deals would be comingfrom. The closeout specialist relies on obtaining surplus productfrom other retailers as well as from suppliers.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.