Exhibit 99.1
SAMUELS
A Diamond Tradition Since 1891
2914 Montopolis Drive, Suite 200
Austin, Texas 78741
Main (512) 369-1400, Fax (512) 369-1500
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CONTACT:
Randy N. McCullough
President & CEO
Phone: 512-369-1445
FOR IMMEDIATE RELEASE
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SAMUELS JEWELERS ANNOUNCES
OCTOBER SALES RESULTS
Austin, Texas - November 17, 2000 -- Samuels Jewelers, Inc., (Nasdaq OTC
Bulletin Board SMJW), one of America's largest specialty retailers of fine
jewelry, today announced sales results for its fiscal month October, which
represents the four-week period ending November 4, 2000.
Total sales for the four-week fiscal month ending November 4, 2000, were $9.5
million, representing a 43.1 % increase over the $6.6 million for the fiscal
month ending October 30, 1999. Samuels had 200 stores at November 4, 2000,
compared with 136 stores at the end of the comparable period last year.
Comparable store sales, defined as those stores open in both the current and
prior year periods, increased 6.9% for fiscal October compared to the previous
year.
"We are extremely pleased to see our comp store sales momentum picking up as we
head into the upcoming selling season," stated Randy McCullough, Samuels'
President and Chief Executive Officer. "This increase in comp store sales is in
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large part a result of increased inventory and stocking levels of our
top-selling merchandise," continued McCullough.
Samuels Jewelers, Inc. currently operates 200 stores in 26 states throughout the
country under the trade names Samuels Jewelers, Samuels Diamonds, Schubach
Jewelers and C & H Rauch Jewelers, and online at www.Samuels.cc,
www.SamuelsJewelers.com and www.JewelryLine.com.
Forward-looking statements in this press release and all other statements that
are not historical fact are subject to risks and uncertainties, which may cause
the company's performance to vary. Specific risks include, but are not limited
to, industry competition factors and other risks identified in the Company's
filings with the Securities and Exchange Commission.
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