One Price Clothing Reports March Sales Results

Apr 12, 2001, 01:00 ET from One Price Clothing Stores, Inc.

    DUNCAN, S.C., April 12 /PRNewswire/ --
     One Price Clothing Stores, Inc. (Nasdaq:   ONPR) today reported net sales of
 $31.9 million for the five-week period ended April 7, 2001, a decrease of
 10.0% when compared with the corresponding five-week period last year.
 Comparable store sales for the five-week period decreased 12.6% compared with
 the same five-week period last year.  Last year's net sales as reported for
 the five-week period ended April 1, 2000 were $34.7 million.
     Net sales for the nine-week period ended April 7, 2001 were $57.9 million,
 a decrease of 4.1% when compared with the corresponding nine-week period last
 year.  Comparable store sales for the nine-week period decreased 7.2% compared
 with the same nine-week period last year.  Last year's net sales as reported
 for the nine-week period ended April 1, 2000 were $58.1 million.
     Leonard M. Snyder, Chairman and Chief Executive Officer, commented:
 "Obviously, we are disappointed with our overall March sales results,
 especially after generating positive comparable store sales in January and
 February due primarily to strong consumer response to our spring merchandise
 offerings.  In fact, our year-to-date sales were above plan as we entered
 March.  However, unusually cold and wet weather in most of our markets
 resulted in significantly less traffic and demand for spring apparel in our
 stores during the first four weeks of fiscal March.  As weather became more
 spring-like during the last week of the month, traffic and demand rebounded
 and comparable store sales returned to positive territory.  As we approach
 Easter, our third-highest volume week of the year, I am very encouraged that
 sales over the last six days are up approximately 7% as compared to the same
 six-day pre-Easter period last year despite having six fewer stores in
 operation.  We believe this is being driven by strong receipts of fresh,
 spring merchandise during March coupled with improved weather conditions."
     One Price Clothing Stores, Inc. operates a national chain of retail
 specialty stores offering first quality, in-season apparel and accessories for
 women, children and men at the best price every day.  The Company currently
 operates 641 stores in 30 states, the District of Columbia, Puerto Rico and
 the U.S. Virgin Islands under the One Price & More! and BestPrice! Fashions
 brands.
 
     NOTE TO ANALYSTS, INVESTORS AND EDITORS: One Price Clothing Stores, Inc.
 press releases are available at no charge through the Company's home page on
 the internet at http://www.oneprice.com .
 
     FORWARD LOOKING STATEMENTS -- All statements contained in this document as
 to future expectations and financial results including, but not limited to,
 statements containing the words "believes," "anticipates," "expects,"
 "projects," "should," "will" and similar expressions, should be considered
 forward-looking statements subject to the safe harbor created by the Private
 Securities Litigation Reform Act of 1995. The Company cautions readers of this
 press release that a number of important factors could cause the Company's
 actual results in fiscal 2001 and beyond to differ materially from those
 expressed in such forward-looking statements. These factors include, but are
 not limited to, general economic conditions, including the possibility of a
 slowdown in consumer demand arising from rising energy prices, fluctuations in
 interest rates and other economic factors; consumer preferences; weather
 patterns; competitive factors; pricing and promotional activities of
 competitors; the impact of excess retail capacity and the availability of
 desirable store locations on suitable terms; whether or not offering for sale
 new categories of merchandise including, but not limited to, menswear, will
 increase sales and operating results; the availability, selection and
 purchasing of attractive merchandise on favorable terms; credit availability,
 including adequate levels of credit support provided to certain of the
 Company's vendors by factors and insurance companies; import risks, including
 potential disruptions and duties, tariffs and quotas on imported merchandise;
 regulatory matters, including legislation affecting wage rates; and other
 factors described in the Company's filings with the Securities and Exchange
 Commission from time to time. The Company does not undertake to publicly
 update or revise its forward-looking statements even if experience or future
 changes make it clear that any projected results expressed or implied therein
 will not be realized.
 
 

SOURCE One Price Clothing Stores, Inc.
    DUNCAN, S.C., April 12 /PRNewswire/ --
     One Price Clothing Stores, Inc. (Nasdaq:   ONPR) today reported net sales of
 $31.9 million for the five-week period ended April 7, 2001, a decrease of
 10.0% when compared with the corresponding five-week period last year.
 Comparable store sales for the five-week period decreased 12.6% compared with
 the same five-week period last year.  Last year's net sales as reported for
 the five-week period ended April 1, 2000 were $34.7 million.
     Net sales for the nine-week period ended April 7, 2001 were $57.9 million,
 a decrease of 4.1% when compared with the corresponding nine-week period last
 year.  Comparable store sales for the nine-week period decreased 7.2% compared
 with the same nine-week period last year.  Last year's net sales as reported
 for the nine-week period ended April 1, 2000 were $58.1 million.
     Leonard M. Snyder, Chairman and Chief Executive Officer, commented:
 "Obviously, we are disappointed with our overall March sales results,
 especially after generating positive comparable store sales in January and
 February due primarily to strong consumer response to our spring merchandise
 offerings.  In fact, our year-to-date sales were above plan as we entered
 March.  However, unusually cold and wet weather in most of our markets
 resulted in significantly less traffic and demand for spring apparel in our
 stores during the first four weeks of fiscal March.  As weather became more
 spring-like during the last week of the month, traffic and demand rebounded
 and comparable store sales returned to positive territory.  As we approach
 Easter, our third-highest volume week of the year, I am very encouraged that
 sales over the last six days are up approximately 7% as compared to the same
 six-day pre-Easter period last year despite having six fewer stores in
 operation.  We believe this is being driven by strong receipts of fresh,
 spring merchandise during March coupled with improved weather conditions."
     One Price Clothing Stores, Inc. operates a national chain of retail
 specialty stores offering first quality, in-season apparel and accessories for
 women, children and men at the best price every day.  The Company currently
 operates 641 stores in 30 states, the District of Columbia, Puerto Rico and
 the U.S. Virgin Islands under the One Price & More! and BestPrice! Fashions
 brands.
 
     NOTE TO ANALYSTS, INVESTORS AND EDITORS: One Price Clothing Stores, Inc.
 press releases are available at no charge through the Company's home page on
 the internet at http://www.oneprice.com .
 
     FORWARD LOOKING STATEMENTS -- All statements contained in this document as
 to future expectations and financial results including, but not limited to,
 statements containing the words "believes," "anticipates," "expects,"
 "projects," "should," "will" and similar expressions, should be considered
 forward-looking statements subject to the safe harbor created by the Private
 Securities Litigation Reform Act of 1995. The Company cautions readers of this
 press release that a number of important factors could cause the Company's
 actual results in fiscal 2001 and beyond to differ materially from those
 expressed in such forward-looking statements. These factors include, but are
 not limited to, general economic conditions, including the possibility of a
 slowdown in consumer demand arising from rising energy prices, fluctuations in
 interest rates and other economic factors; consumer preferences; weather
 patterns; competitive factors; pricing and promotional activities of
 competitors; the impact of excess retail capacity and the availability of
 desirable store locations on suitable terms; whether or not offering for sale
 new categories of merchandise including, but not limited to, menswear, will
 increase sales and operating results; the availability, selection and
 purchasing of attractive merchandise on favorable terms; credit availability,
 including adequate levels of credit support provided to certain of the
 Company's vendors by factors and insurance companies; import risks, including
 potential disruptions and duties, tariffs and quotas on imported merchandise;
 regulatory matters, including legislation affecting wage rates; and other
 factors described in the Company's filings with the Securities and Exchange
 Commission from time to time. The Company does not undertake to publicly
 update or revise its forward-looking statements even if experience or future
 changes make it clear that any projected results expressed or implied therein
 will not be realized.
 
 SOURCE  One Price Clothing Stores, Inc.