Strong Sales by Retailers So Far

August 9, 2000

Strong Sales by Retailers So Far

Finlay Enterprises Inc., one of the leading retailers of fine jewelry, announced its total sales for the second quarter ended July 29 increased 19.8% to $211.2 million, up from $176.3 million in the second quarter of 1999. Total sales for the six months ended July 29 increased 15.0% to $389.8 million, up from $339.0 million during the first six months of 1999.

Friedman's Inc., a leading specialty retailer of fine jewelry, announced record financial results for its third fiscal quarter ended July 1, 2000. Net sales increased 21.9% to $81.1 million from $66.5 million in the same period last year. Comparable-store sales increased 6.4% during the third quarter. The company opened 25 new stores during the third quarter and at July 1, 2000, had 599 stores in operation, an increase of 18.8% from last year.

Mayor's Jewelers Inc. reported a 12.6% comparable-store sales increase for the 13 weeks ended July 29, 2000, compared to the same period last year. Net retail sales for the period were $39.1 million, up from $32.5 million last year. Comparable-store sales increased 13.8% for the 26 weeks ended July 29, 2000. Net retail sales for the period were $73.9 million compared to $60.1 million last year. The company operates 28 luxury jewelry stores in Florida, Georgia, Illinois and Virginia.

Sears, Roebuck & Co. said July sales at its U.S. stores open at least a year rose 1.8% from a year ago. Total sales in July were $2.11 billion, 3.3% above last July's $2.05 billion. Home electronics, sporting goods, lawn and garden, footwear, fine jewelry and cosmetics and fragrances all experienced strong sales increases, the company said.

- by Julia M. Duncan