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BRIEFLY

Retail

September 13, 1996|Times Staff and Wire Reports

Barry's to Open 30 Superstores: The Monrovia-based jewelry retailer said the move is an effort to boost slowed sales. It is hoping to have all the stores open before the Christmas season. Barry's said it will expand 17 of its mall outlets into superstores, while 13 of the 18 new stores it plans to open will be superstores. The firm reported that sales in stores open more than a year rose just 2.2% in the year ended May 31, compared with an 11% rise in fiscal 1995. In the fourth quarter same-store sales rose 2.1%. Barry's said it lost $1.12 a share in the quarter, which it blamed on one-time charges. It also said it will take a pretax charge of $876,000 in the quarter ended Aug. 31 for costs related to a new credit line.

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