Goody's Family Clothing, Inc. Announces April Sales Results

Business Wire, May 8, 1997

KNOXVILLE, Tenn.--(BUSINESS WIRE)--May 8, 1997--Goody's Family Clothing, Inc. (Nasdaq/NM:GDYS) today reported sales for the month of April 1997 of $56.6 million compared with April 1996 sales of $49.3 million, an increase of 14.8%. On a comparable store basis, sales for April increased 4.9% from a year ago. Due to the earlier Easter this year, a more meaningful comparable store sales comparison would be for the combined months of March and April which increased 15.2% this year over the comparable period in the prior year. As previously reported, March 1997 comparable sales, which included Easter this year, increased 22.8%.

For the first quarter ended May 3, 1997, sales increased 26.1% to $190.1 million from $150.8 million during the same period last year. Comparable store sales for the first quarter ended May 3, 1997, increased 14.9% from the same period in the prior year.

During the fiscal month of April 1997, the Company opened five new stores, one each in Benton and Searcy, Arkansas; two in the Atlanta, Georgia, metropolitan market; and one in Corbin, Kentucky, bringing the total new stores opened during 1997 to seven. The Company also relocated its store in Fort Payne, Alabama.

With headquarters in Knoxville, Tennessee, Goody's Family Clothing, Inc. is a retailer of moderately priced apparel for women, men and children. At the end of the fiscal month, the Company operated 209 stores in the 14 states of Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina, Tennessee, Virginia and West Virginia.

CONTACT: Goody's Family Clothing Inc., Knoxville

Edward R. Carlin, 423/966-2000