HMY sells almost at book value, PE=16.
Company Press Release
Heilig-Meyers Reports Sales Results for October 1997
RICHMOND, Va., Nov. 5 /PRNewswire/ -- Heilig-Meyers Company (NYSE:HMY), theRichmond-based home furnishings retailer, today reported sales results for the month of October1997. Net sales for the month increased approximately 81.5% to an estimated $187.1 million
compared to $103.1 million for October 1996. Sales in stores which were open for the comparablemonth in the prior year increased approximately 3.1%.
Net sales for the eight-month period ended October 1997 increased approximately 74.1% to anestimated $1.4 billion compared to $782.6 million for the same period last year. Sales in storeswhich were open for the comparable period in the prior year increased approximately 3.0%.
Heilig-Meyers Company, a Virginia corporation, currently operates a total of 1,190 stores; 863 asHeilig-Meyers, 171 as Mattress discounters, 100 as Rhodes, 23 as The RoomStore and 33 stores
in Puerto Rico as Berrios.
SOURCE Heilig-Meyers Company