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Syms Corp same-same store sales drop 1.8% for Q1

23
Jun '06

Leading off-price retailer Syms Corp announced results for its first quarter ended May 27 2006.

For the thirteen weeks ended May 27 2006, the Company had a net profit of $5,738,000 ($0.38 per share) as compared to $1,055,000 for the 13-week period ended May 28, 2005. In the first quarter ended May 27, 2006, the Company recorded a pre-tax gain on the sale of real estate amounting to approximately $10,424,000.

This resulted from the sale of its stores in May 2006, located in Dallas, Texas and Rochester, New York. The Dallas store has been replaced by a leased property located in Plano, Texas. The Company's net sales for the 13 weeks ended May 27, 2006 decreased to $66,193,000 from $67,432,000 for the same period last year. Same store sales for the period ended May 27, 2006 decreased 1.8 percent compared with the same period last year.

Syms Corp operates a chain of 36 'off-price' apparel stores located throughout Northeastern and Middle Atlantic regions and in the Midwest, Southeast and Southwest. Each Syms store offers a broad range of first-quality, in season merchandise bearing nationally recognized designer and brand-name labels.

Syms Corp

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