May 26, 1995 in Nation/World

Eagle Posts Record Sales, Earnings

From Staff And Wire Reports

Eagle Hardware & Garden Inc. reported record sales and earnings on Thursday for its first fiscal quarter of 1995.

The Renton, Wash.-based hardware chain earned $2.7 million, or 12 cents per share, on sales of $130.1 million during the quarter ending April 28.

The earnings represented a 20 percent increase over the same quarter in 1994, but 1995 results were boosted by $1 million, or four cents per share, from capital gains on the sale of land.

“We are extremely pleased with our results for the quarter, particularly in light of the current economic environment in the Pacific Northwest and an extended period of poor weather, which hampered sales in the majority of our markets,” Eagle President Richard Takata said.

Competition and the company’s long-term market saturation strategy, combined to decrease same-store sales by five percent for the quarter, Takata said.

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