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October 7, 1998

COMPUSA SEES Q1 SALES UP 18% DESPITE SEVERAL DRAGS

By CBR Staff Writer

Computer hardware retailer CompUSA Inc announced that sales for the first quarter of fiscal 1999, ended September 26, increased 18% to $1.40bn from $1.19bn in the year-ago quarter. Comparable store sales were down 1.7% year-over-year, however, for the 134 stores open one year or more. Overall figures include sales for the month of September for the 46 former Computer City stores – acquired from Tandy Corp in August – the company is continuing to operate, but Computer City store sales are not included in the comparable store sales equation. CompUSA said that, although sales improved from last year’s quarter, lower average selling prices, continued softness in corporate sales, and the impact of the liquidation sales related to the 55 Computer City stores that it chose to close all had a negative effect on sales for the quarter. The company did note that the introduction of Apple’s iMac system and healthy demand for machines equipped with Windows 98 helped offset the dragging factors. The Company plans to announce full operating results for the quarter ended in early November.

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