Prior to shelving its plan to issue an IPO this year (News, Oct. 19), Family Christian Stores reported that sales for the six-month period ended July 26, 1998, rose 25.2%, to $84.8 million, while the net loss for the period increased to $5.1 million from $3.1 million.
The company attributed the gain in revenue to an 8.2% improvement in comparable store sales as well as to the addition of 79 stores to Family Christian's roster, a number that includes 56 Joshua Tree stores acquired in June 1998.
Company chairman Les Dietzman told PW that despite the improvement in the stock market, Family Christian has no immediate plans to move ahead with a new IPO.
