SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) :
Stuarts Department Stores, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-13184 04-2817110
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Id No.)
16 Forge Parkway, Franklin, Massachusetts 02038
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (508) 520-4540
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On February 13, 1995, Stuarts Department Stores, Inc. issued a press release,
a copy of which is annexed hereto as Exhibit 28-1 and incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
The following Exhibit is filed herewith:
Exhibit
28-1 Press Release dated February 13, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
STUARTS DEPARTMENT STORES, INC.
DATED :February 14, 1995 by: /s/ Antone F. Moreira
Antone F. Moreira
Executive Vice President
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EXHIBIT INDEX
Exhibit
Number Exhibit Location
28-1 Press release dated February 13, 1995 Page 5
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FOR IMMEDIATE RELEASE
STUARTS REPORTS SALES DECLINE
FRANKLIN, Mass., February 13, 1995 - - Stuarts Department
Stores, Inc. (NASDAQ-STUS) announced that its total store sales
for its fiscal year ended January 28, 1995 were $105,250,000, a
decline of 10.09% from its fiscal year ended January 29, 1994.
Total store sales for the 13 week period ended January 28, 1995
were $27,950,000, a decline of 17.58% from the comparable period
during fiscal 1994.
The Company attributed the sales decline during fiscal 1995
to decreased sales activity in its apparel merchandise lines,
particularly women's apparel, as well as a severe winter and a
sluggish New England economy during the early portion of the
fiscal year.
Stuarts stated that it expects to report a significant loss
for fiscal 1995 which will include reserves for store closings.
During the 39 week period ended October 29, 1994, Stuarts
reported a net loss of $3,550,000, or $.17 per share.
The Company previously announced that it has engaged a
consultant to objectively review the Company's operations and
make recommendations for cost reductions and, as a result
thereof, has closed stores located in Biddeford, Maine and
Barre, Vermont. The Company, together with the assistance of
its consultant, is continuing the review of its operations and
implementation of cost reductions.
For further information contact: Mr. David Ferguson, President
(508) 520-4540 ext. 224
or Mr. Antone Moreira,
Executive Vice President and CFO
(508) 520-4540 ext. 222
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