Cost-U-Less sales on the increase

increase

COST-U-LESS’ Suva, Fiji store has been acknowledged for helping its parent company gain a 25 per cent increase in total sales for the third quarter of 1999 over the previous year’s result.

A company statement said that the sales increase was primarily due to two new stores opened after third quarter 1998 - the Suva, Fiji store which opened in fourth quarter 1998 and the Curacao, Netherlands Antilles store which opened in first quarter 1999.

Net income was $753,000 in second quarter 1999 year-to-date, compared to $387,000 for the same period in 1998.

“This represents an increase of $365,000 or 95 per cent over second quar ter 1998 year-to-date,” a company state ment said. For the first nine months of 1999, same store sales increased nine per

cent compared to the same period in 1998.

The company also announced sever al management changes in September. Jef frey Meder was named president and chief executive officer, replacing Michael J Rose who retained his title as chairman of the board.

Roy W Sorenson was named chief financial officer, replacing Martin Moore, who had served as interim chief financial officer since mid-July. Moore remains con troller of the company.

Founded in 1989, Cost-U-Less is a leading operator of non-membership ware house “club-style” stores with 11 locations: Hawaii (2); Guam (2); the US Virgin Islands (2); Fiji (2); Curacao, Netherlands Antilles; American Samoa and Sonora, CA. ■

The Cost-U-less outlet in Suva, Fiji