EXHIBIT 99.1
------------
PRESS RELEASE
-------------
WEINER'S STORES, INC. CHAIRMAN, PRESIDENT AND CEO, HERBERT R. DOUGLAS, TO
RETIRE; RAYMOND J. MILLER NAMED NEW CHAIRMAN, PRESIDENT AND CEO; CHANGES IN
SENIOR MANAGEMENT
Houston -- (Business Wire) - June 28, 2000 -- Weiner's Stores, Inc.
(OTCBB: WEIR) today reported that its chairman, president and CEO, Herbert R.
Douglas, has announced his retirement. Mr. Douglas will continue to serve on the
board and as a consultant to the company. Raymond J. Miller, currently executive
vice president, chief operating officer and chief financial officer, will take
the helm as the company's new chairman, president and chief executive officer
effective immediately.
In making the announcement, Mr. Douglas stated, "In my five years at
Weiner's Stores, I take pride in having stabilized and reformatted the company,
built a first-class management team from the ground up, re-energized the stores,
built vendor support and introduced many new merchandise concepts and
categories." Mr. Douglas further stated, "The current timing is perfect for a
transition to a new chairman, president and chief executive officer. Ray Miller
brings a wealth of experience in financial management, operational expertise and
leadership abilities developed during his 25-year retail career."
Commenting on his new duties at Weiner's Stores, Mr. Miller said, "I am
excited to be able to continue the turnaround begun by Herb Douglas and the
company's management team. With continued execution and strong merchandising, we
are poised to grow our market share in the southwest. To better serve our
stockholders, customers and fellow associates, we are pleased to announce
several other corporate promotions, effective immediately.
"Joseph J. Kassa, senior vice president, general merchandise manager,
has been promoted to executive vice president, general merchandise manager. Mr.
Kassa has been with the company since 1996.
"Michael S. Marcus, vice president, controller and treasurer, has been
promoted to vice president, chief financial officer and secretary. Mr. Marcus
has been with the company since 1997. In addition to Mr. Marcus' current
responsibilities, the MIS/EDP Department will report to him.
"David DeLeon, director of the distribution center, has been promoted
to vice president, administration. Mr. DeLeon has been with the company since
1986.
"Messrs. Kassa, Marcus and DeLeon will report to Mr. Miller. Also
reporting to Mr. Miller will be Mr. James L. Berens, senior vice president
stores and operations and Ms. Stephanie Jacobson, director of human resources.
<PAGE>
"Ms. Valerie Mander, divisional merchandise manager, women's, has been
promoted to vice president, divisional merchandise manager, women's. Ms. Mander
has been with the company since 1996. Ms. Mander reports to Mr. Kassa.
"Ms. Janie Hubbard, production manager, distribution center, has been
promoted to manager, distribution center. Ms. Hubbard has been with the company
since 1987. Ms. Hubbard reports to Mr. DeLeon."
Weiner's is a convenient neighborhood family retailer that offers a
complete assortment of branded products for value-conscious consumers.
Currently, approximately 3,700 associates are employed at the 139 stores that
are operated in Texas, Louisiana, Mississippi and Arkansas. Visit our web site
at www.weiners.com.
This press release contains forward-looking statements. Such statements
inherently are subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those projected. Such risks and
uncertainties include, among others, general economic and business conditions,
changes in foreign, political, social and economic conditions, regulatory
initiatives and compliance with governmental regulations, the ability of the
Company and its competitors to predict fashion trends and customer preferences
and achieve further market penetration and additional customers, consumer
apparel buying patterns, adverse weather conditions, inventory risks due to
shifts in market demand, issues and various other matters, many of which are
beyond the Company's control. These forward-looking statements speak only as of
the date of this press release. The Company expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statement contained herein to reflect any change in the
Company's expectations with regard thereto or any change in events, conditions
or circumstances on which such statement is based.
Contact: Weiner's, Houston
Raymond J. Miller, 713/688-1331 ext. 343
2
