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April 02, 2004
Cost-U-Less reports sales jump
Same-store first quarter sales jumped 15.3 percent from year-before at Cost-U-Less Inc., the Pacific island discount retailer.
Cost-U-Less operates Costco-like stores in island markets. It has two stores in Hawaii, two on Guam, one in American Samoa and one in Fiji. It also has a store in California, two in the U.S. Virgin Islands and two in the Netherlands Antilles.
First quarter sales were $50.1 million compared to just $42.3 million a year before, an increase of 18.3 percent. The same-store comparison produces a smaller number by excluding the Dededo, Guam, store, closed a year ago due to damage from Supertyphoon Pongsona.
"In some markets," CEO Jeff Meder said, "improved economies from more tourism have driven higher sales, while in other markets, better execution has led to increases."
Posted by afinta at April 2, 2004 06:35 PM
