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May 07, 1999

Harold's Posts Decline in 1st Quarter Catalog Sales

Upscale apparel retailer and cataloger Harold's Stores Inc., Norman, OK, said yesterday its catalog sales fell by about 32 percent to $2.1 million in the first quarter ended May 1, compared with $3.1 million in the year-ago first quarter. Total sales increased by about 5 percent to $35.3 million, up from $33.5 million in the prior-year period. Same-store sales were up 2.4 percent for the period. The company attributed its decrease in catalog sales to a strategic initiative to reduce the total number of catalogs circulated by 25.3 percent during the quarter. Last year Harold's had about $8.2 million in catalog sales. The company opened two stores and closed one during the quarter, ending the period with 47 outlets. Its Harold's Direct division, in addition to the catalogs, also includes an e-commerce site (www.harolds.com).