Whitehall Jewellers Reports 41.6% Sales Increase

May 6, 1999

Whitehall Jewellers Reports 41.6% Sales Increase

Whitehall Jewellers Inc., the parent company for 262 U.S. jewelry stores, announced a 41.6% increase in sales during its first fiscal quarter compared to the first quarter in 1998. Sales for the period, which ended April 30, reached $58.9 million. Comparable store sales rose 12.3% over 1998.

Income from the Jewel Box stores, which Whitehall purchased in September 1998, contributed only slightly more than 1% of comparable store sales, according to Whitehall Chairman and CEO Hugh Patinkin. Whitehall opened 13 new stores during the first fiscal quarter, many of them ahead of schedule.

Whitehall operates retail jewelry stores in shopping malls under the names Whitehall Jewellers, Lundstrom Jewelers and Marks Bros. Jewelers.

- by Stacey King