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BRADLEES REPORTS IMPACT OF TAX INCREASE

 BRAINTREE, Mass., Sept. 2 /PRNewswire/ -- In accordance with the Statement of Financial Accounting Standards No. 109, the company is required to recompute its deferred tax balances to reflect changes in tax rates in the period the change is enacted. Accordingly, Bradlees anticipates the increase in corporate tax rates legislated by the Omnibus Budget Reconciliation Act of 1993 will increase the loss for the second quarter, ended Aug. 14, 1993, by an additional one-time $.19 per share deferred tax charge. Bradlees, Inc. (NYSE: BLE) will report second quarter earnings, as scheduled, on Sept. 14, 1993.
 Bradlees, Inc. operates 126 discount department stores in Maine, New Hampshire, Massachusetts, Connecticut, New York, New Jersey, Pennsylvania and Virginia. Bradlees' common stock is listed and traded on the New York Stock Exchange under the symbol "BLE."
 -0- 9/2/93
 /CONTACT: Coleman Nee of Bradlees, Inc., 617-380-8354/
 (BLE)


CO: Bradlees, Inc. ST: Massachusetts IN: REA SU:

JL -- NE002 -- 8265 09/02/93 08:55 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
Words:160
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