rue21 Announces the Opening of Its 900th Store
WARRENDALE, Pa., March 22, 2013 (GLOBE NEWSWIRE) -- rue21, inc. (Nasdaq:RUE) opened its 900th store yesterday, March 21, 2013, in the Southern Hills Shopping Center of West Plains, Missouri. The 5,000 square foot store is the Company's 21st location in that state.
rue21 has successfully opened over 500 stores in the last five years. The Company expects to open another 125 stores in 2013 and has opened 23 stores so far this year. The Company intends to open its 1000th store in the fourth quarter of 2013, and the Company's long term plan is to grow the chain to over 1700 stores in the United States.
Commenting on the store opening, Bob Fisch, rue21's CEO and President, stated: "Not many companies are able to open their 900th store and their 1000th store in the same year, but we are on target to accomplish that goal. I am extremely proud of our associates who make this tremendous store growth initiative possible, especially our real estate, construction and operations teams. Beyond new store openings, we have many strategic initiatives for 2013 and beyond to take this Company to the next level of its growth, including e-commerce, and we are look forward to the possibilities ahead of us."
About rue21, inc.
rue21 is a leading specialty apparel retailer offering exclusive branded merchandise and the newest trends at a great value. rue21 currently operates 900 stores in 47 states. Learn more at www.rue21.com
Forward Looking Statements:
Certain statements herein, including statements relating to future store openings and growth strategies, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, consumer spending, our ability to effectively identify and respond to changing fashion trends, our ability to compete with other retailers, our strategy and expansion plans, implementation of systems upgrades, reliance on key personnel, trade restrictions, events that may affect our vendors or their ability to finance their operations, availability of suitable new store locations and other factors which are set forth in the Company's Annual Report on Form 10-K filed March 27, 2012, and in all filings with the SEC made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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