Sales Increase at Friedman's, Decrease at Crescent


July 16, 2001

Sales Increase at Friedman's, Decrease at Crescent

Friedman's Inc., a fine jewelry retailer, announced its net sales for the third fiscal quarter ended June 30 increased 6.5% to $80.4 million, compared to $75.5 million in the same quarter last year. Comparable store sales for the quarter were up 0.2%. For the fiscal year-to-date, net sales jumped 11% to $333.5 million, up from $300.4 million for the same period last year. Comparable store sales rose 2.7% during the year-to-date period.

Crescent Jewelers, an affiliate of Friedman's, reported its net sales for the fiscal quarter ended June 30 decreased 2.1% to $26.7 million, down from $27.3 million in the same quarter last year. Comparable store sales for the quarter declined 4.6%. For the nine-month period ended June 30, net sales increased 3.3% to $108.5 million, compared to $105.1 million for the same period last year. Comparable store sales increased 1.2% during the nine-month period.

Friedman's is based in Savannah, GA and operates 635 stores in 21 states. Crescent Jewelers is based on the West Coast and operates 155 stores in seven states.

- by Julia M. Duncan