Fiscal 2012 Store Opening Plans and Comparable Store Sales Expectations
The Company will have 53 weeks of operating results in fiscal 2012 and reiterated the following full-year guidance:
- Positive comparable store sales on a 52-week basis
- Plans to open up to three new stores and remodel up to six locations
Conference Call Information
The Company will host a conference call on Tuesday, June 12, 2012 at 2:00 p.m. pacific time/5:00 p.m. eastern time. Mark Baker, Chief Executive Officer and Chris Newman, Chief Financial Officer, will discuss first quarter fiscal 2012 financial results, as well as the Company’s outlook for fiscal 2012, followed by a Q&A session. To listen to the call, please dial (866) 713-8563 and provide passcode 13054477. A telephone replay will be available from June 12, 2012 at 4:00 p.m. pacific time/7:00 p.m. eastern time through June 19, 2012. To access the replay, please dial (888) 286-8010 and enter passcode 53343362. The call will also be broadcast live at http://ir.osh.com and will be archived on the web site for 90 days.About Orchard Orchard Supply Hardware Stores Corporation is a neighborhood hardware and garden store focused on paint, repair and the backyard. Founded as a purchasing cooperative in San Jose in 1931, today the stores average 44,000 square feet of enclosed retail space and 8,000 square feet of exterior nursery and garden space, carrying a broad assortment of merchandise for repair, maintenance and improvement needs for the home and backyard. As of April 28, 2012, the Company had 88 stores in California. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release (including information incorporated or deemed incorporated by reference herein) contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projections as well as the current beliefs and assumptions of the Company's management. Words such as “guidance”, "outlook", "believes", "expects", "appears", "may", "will", "should", “intend”, “target”, “projects”, “estimates”, “plans”, “forecast”, “is likely to”, "anticipates", or the negative thereof or comparable terminology, are intended to identify such forward looking statements. Any statement that is not a historical fact, and other estimates, projections, future trends and the outcome of events that have not yet occurred referenced in this press release, is a forward-looking statement. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, factors discussed under the section entitled "Risk Factors" in the Company's reports filed with the Securities and Exchange Commission. Many of such factors relate to events and circumstances that are beyond the Company's control. You should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the information contained in this press release.