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BIG B, INC. REPORTS RECORD SALES AND EARNINGS

 BESSEMER, Ala., Nov. 17 /PRNewswire/ -- Big B, Inc. (NASDAQ: BIGB) announced today record sales and earnings for both the 38- and 12-week periods ended Oct. 23.
 Net earnings rose 31.8 percent for the third quarter to a record $1,007,000 from $764,000 in the comparable prior year period. Sales for the quarter rose 21.8 percent to a record $133,670,000 vs. $109,774,000 in the prior year.
 For the 38 weeks, sales rose to a record $415,767,000, up 16.9 percent from $355,796,000 in the prior year. Net earnings rose 28.3 percent to a record $6,188,000, up from $4,823,000 in the prior year.
 After adjustment of prior periods for the company's Oct. 1 two-for-one stock split, earnings per share rose to $.40 vs. $.31 for the 38-week period and $.07 vs. $.05 for the 12-week period.
 Anthony Bruno, chairman of the board, stated that he was pleased with the results and noted that Big B has produced 12 consecutive quarters of sales and earnings growth. Bruno noted that comparable store sales increased by over 8 percent during the third quarter and is optimistic that this momentum will carry through the end of the fiscal year.
 During the quarter, two new stores were opened and one store was closed. The new stores are located in Atlanta and Tuscaloosa, Ala. The store closed was in Atlanta, and was consolidated into another nearby Big B store. Three new stores are planned for the fourth quarter along with two relocations of existing stores.
 Big B's board of directors expressed their confidence in the future outlook for Big B by declaring a two-for-one stock split during the quarter. As a continued expression of confidence, the board declared a $.03 per share quarterly dividend payable Dec. 10, to shareholders of record on Nov. 26.
 Big B operates 352 stores in the five states of Alabama (153), Florida (21), Georgia (151), Mississippi (8) and Tennessee (19).
 BIG B, INC.
 38 wks. ended 10/23/93 10/24/92
 Net sales $415,767,000 $355,796,000
 Net income $ 6,188,000 $ 4,823,000
 Earnings per share (a) $ .40 $ .31
 Average shares
 outstanding (a) 15,461,000 15,361,000
 12 wks. ended 10/23/93 10/24/92
 Net sales $133,670,000 $109,774,000
 Net income $ 1,007,000 $ 764,000
 Earnings per share (a) $ .07 $ .05
 Average shares
 outstanding (a) 15,491,000 15,385,000
 (a) Adjusted to reflect two-for-one stock split effective Oct. 1.
 -0- 11/17/93
 /CONTACT: Mike Tortorice of Big B, 205-424-3421/
 (BIGB)


CO: Big B, Inc. ST: Alabama IN: REA SU: ERN DIV

BR-BN -- AT007 -- 5442 11/17/93 11:32 EST
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Publication:PR Newswire
Date:Nov 17, 1993
Words:460
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