Trak Auto Corporation Announces Sales
10 February 1998
Trak Auto Corporation Announces SalesLANDOVER, Md., Feb. 10 -- Trak Auto Corporation , announced that sales decreased 23.5% from $80.6 million during the 13 weeks ended February 1, 1997 to $61.6 million during the 13 weeks ended January 31, 1998 and sales decreased 7.7% from $346.0 million during the 52 weeks ended February 1, 1997 to $319.4 million during the 52 weeks ended January 31, 1998. The decrease in sales is primarily due to Trak Auto's sale of its California operations in December 1997. Comparable sales (stores open more than one full year) decreased 8.7% and 11.6% during the 52 and 13 weeks ending January 31, 1998 respectively. Comparable sales for Super Trak and Super Trak Warehouse stores decreased 8.9% and 12.1% for the 52 and 13 weeks ended January 31, 1998, respectively, and comparable sales for Classic stores decreased 8.3% and 10.5% for the 52 and 13 weeks ended January 31, 1998, respectively. Sales for Super Trak stores and Super Trak Warehouse stores represented 69.8% and 71.9% of total sales for the 52 and 13 weeks ended January 31, 1998, compared to 64.6% and 66.3% for the 52 and 13 weeks ended February 1, 1997. On December 7, 1997, Trak Auto closed on an agreement with "CSK" Auto Inc. to sell its operations in California. Accordingly, sales excluding the California operations, were $237.7 million and $53.0 million during the 52 and 13 weeks ended January 31, 1998, respectively, compared to $240.7 million and $56.0 million during the 52 and 13 weeks ended February 1, 1997, respectively and comparable sales, excluding California decreased 8.0% and 9.4% during the 52 and 13 weeks ended January 31, 1998. Trak Auto Corporation operates 181 stores, including 87 Super Trak stores and 26 Super Trak Warehouse Stores, in the Washington, DC; Richmond, Virginia; Chicago, Illinois; and Milwaukee, Wisconsin metropolitan areas, with 193 stores including 91 Super Trak stores and Super Trak Warehouse stores in operation one year ago. On January 31, 1998 Trak Auto closed 15 stores in Pittsburgh, Pennsylvania which included 10 Super Trak stores and 5 Super Trak Warehouse stores. SOURCE Trak Auto Corporation