Whitehall Jewellers Also Enjoys Rise in Holiday Sales

Whitehall Jewellers November and December sales of $120.9 million, compared to $111.8 million for the same period in 2002. Comparable store sales increased 6.4% for the two-month period, versus a 2.6% decline for November and December 2002.

Year-to-date sales through December 31, 2003 increased 1.4% to $329 million, versus $324.4 million for the eleven-month period last year, while comparable store sales for the same period decreased 0.7%, compared to a 1.3% decrease for the eleven-month period ended December 31, 2002.

"We are very pleased to report these strong November and December sales results, which reflect both the continued success of our new sales initiatives instituted early in 2003 and robust holiday sales,” says Hugh Patinkin, Chairman and CEO.

“We are also particularly encouraged with the combination of increased unit sales and higher average merchandise sales. We believe these results reflect the underlying strength of our business model, our effective merchandising and marketing programs, and our operating team's continued focus on execution,” he adds.