Ernst Posts Increase In First-Quarter Sales
Ernst Home Center Inc. said sales for the first quarter of fiscal 1995 totaled $122,339,000, up 8.7 percent from the same period of 1994.
Comparable store sales (sales from stores open more than one year) were up 4.4 percent for the quarter.
The company reported a net loss for the quarter of $959,000, or 8 cents per share. During the quarter, the company closed two stores. The after-tax costs associated with these closings were $595,000, or 5 cents per share.
At its fiscal 1994 year end, Ernst had 78 stores in operation and the company had announced plans to open 25 new superstores in each of the next two years. For the full fiscal year 1995 the company expects to open a total of at least 27 superstores and close about 7 existing base stores.
Seattle-based Ernst Home Center Inc. is a home improvement retailer operating stores in Washington, Oregon, Idaho, Montana, Utah, Wyoming, Colorado and Nevada.