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CANDIE'S INC., ANNOUNCES QUARTERLY PROFIT OF $411,097

 NEW YORK, Nov. 22 /PRNewswire/ -- Candie's, Inc. (NMS: CAND/NASDAQ: CANDU) today announced that it achieved earnings of $411,097 ($.09 per share) for its third quarter ended Oct. 31, 1993 as compared to a loss of $2,082,165 ($2.65 per share) for the same quarter last year. Total revenues for the quarter increased 38 percent compared to the same quarter last year.
 Commenting on the results Neil Cole, CEO, said: "We are extremely pleased by the results achieved this quarter. We attribute it largely to a successful turnaround plan, implemented earlier this year, and the enthusiastic reaction to the CANDIE'S product line and pricing philosophy. In addition, both our Unbranded and Bright Star divisions continue to grow and have contributed toward our profitability this quarter."
 Candie's, Inc., designs, markets, imports and distributes a variety of fashion and athletic footwear under the CANDIE'S trademark, as well as several other trademarks.
 CANDIE'S, INC.
 Condensed Consolidated Statements of Operations
 (Unaudited)
 For the Quarter Ended
 Oct. 31, 1993 Pct./Sales 1992 Pct./Sales
 Revenues:
 Landed Sales $3,318,753 100.0 $2,716,221 100.0
 Commission Income 1,705,183 923,906
 Total Revenues 5,023,936 3,640,127
 Total Gross Profit 2,235,876 67.4 1,495,250 55.0
 Income (Loss) from
 Operations Before
 Taxes 412,549 12.5 (2,047,061) (75.4)
 Taxes 1,452 .1 35,104 1.3
 Net Income (Loss) $411,097 12.4 $(2,082,165) (76.7)
 Loss Per Share:
 Weighted Average
 Shares 4,823,344 785,721
 Income (Loss) Per
 Share $0.09 $(2.65)
 Eight Months One Month Nine Months
 Ended Ended Ended
 Oct. 31, Feb. 28, Oct. 31,
 1993 1993 1992
 $ Pct. $ Pct. $ pct.
 Revenues:
 Landed Sales $7,397,062 100.0 $766,698 100.0 $5,906,629 100.0
 Commission
 Income 2,760,811 111,284 2,242,935
 Total Revenues 10,157,873 877,982 8,149,564
 Total Gross
 Profit 3,954,930 53.5 209,690 27.4 3,304,175 55.9
 Loss from
 Oper. Before
 Taxes (2,360,789)(31.9) (787,396)(102.7) (4,711,622)(79.7)
 Taxes 7,219 .1 (13,212) (1.7) 35,104 .6
 Net Loss (2,368,008)(32.0) (774,184)(101.0) (4,746,726)(80.3)
 Loss Per Share:
 Weighted Average
 Shares 4,570,986 823,690 785,721
 Loss Per Share (0.52) (0.94) (6.04)
 A quasi-reorganization took place on Feb. 28, 1993.
 -0- 11/22/93
 /CONTACT: Michael Callahan, chief financial officer of Candie's, 212-869-8725, or Melissa Wilmoth of Cameron Associates, 212-644-9560/
 (CANDU CAND)


CO: Candie's, Inc. ST: New York IN: TEX SU: ERN

LG-TW -- NY029 -- 6753 11/22/93 10:35 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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