Sales, Losses Grow at Noodle Kidoodle
-- 12/20/99

Revenues rose 20% at Noodle Kidoodle, to $27.2 million, for the third quarter ended October 30. The gain was due entirely to the opening of new stores; the children's multimedia retailer reported a 4% decline in same-store sales. During the year, Noodle Kidoodle opened 16 new stores and will finish the fiscal year with a total of 58 outlets. Net loss for the quarter was $500,000, a figure that includes a one-time gain of $2.5 million from the sale of its wholesale operation. Net loss in last year's third quarter was $1.6 million.

Sales in the first nine months of fiscal 2000 increased 20% to $70.9 million, with same store sales down 3%. Net loss in the period, including the $2.5 extraordinary gain, was $4.9 million, compared to a $4.1-million loss in the first nine months of fiscal 1999.

Company CEO Stanley Greenman reported that sales for the fourth quarter had gotten off to a strong start, helped in part by the launch of its revamped Web site.

Looking ahead to fiscal 2001, Greenman said Noodle Kidoodle will open at least 10 new stores. The company also plans to open a second distribution center, which it expects to be operational for next year's holiday season.