Rag Shop tops $100 million in sales - Rag Shops Inc - Brief Article - Statistical Data Included

DSN Retailing Today, Feb 5, 2001

HAWTHORNE, N.J. -- Rag Shop for the first time in its history surpassed $100 million in sales for the fiscal year ended Sept. 2, 2000, a year described by executives as excellent for the company. Net income reached $1.4 million, or $0.25 per share, before the effect of change in accounting principal, which added $0.04 per share to the total.

In the fiscal year ended Aug. 28, 1999, net sales were $94.8 million and net income was $402,000, or $0.08 per share. Strength in home decor segments, art, framing and scrapbooks helped drive sales and profits.