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CONSOLIDATED STORES CORPORATION REPORTS THIRD QUARTER 1991 RESULTS AND 1992 EXPANSION PLANS

CONSOLIDATED STORES CORPORATION REPORTS THIRD QUARTER 1991 RESULTS
 AND 1992 EXPANSION PLANS
 COLUMBUS, Ohio, Nov. 14 /PRNewswire/ -- Consolidated Stores Corporation (NYSE: CNS) today reported that for the third quarter ended Nov. 2, 1991, net sales increased 11.7 percent to $186.2 million from $166.8 million in the 1990 period. The company reported earnings per share of $.04 in the third quarter of 1991 compared to $.01 in the same period a year ago, a 2.3 percent comparable sales increase in stores open for more than two years.
 For the thirty-nine weeks ended Nov. 2, 1991, net sales increased 11.8 percent to $520.7 million from $465.9 million in 1990, and net income was $3.2 million or $.07 per share compared to a net loss of $2.4 million or ($.05) per share in 1990. Comparable sales for the first three quarters of 1991 were up 5.9 percent.
 Commenting on the quarter's results, William G. Kelley, chairman and chief executive officer stated, "We are pleased with our third quarter sales and earnings performance. Sales were fueled by early Christmas buying and exceeded our expectations. Comparable sales in stores not participating in the special close-out event in the third quarter last year increased to 9.0 percent from 6.6 percent in the second quarter of 1991. Our stores are well poised to continue growth into the holiday season, and we are looking optimistically to the fourth quarter and next year."
 Kelley continued, "We are also delighted by our customers acceptance of the new 'All For One' dollar store concept, and we plan to open 37 to 39 stores this year, up from an earlier target of 25. We also plan to open at least 100 'All For One' stores next year, in addition to 40 more Odd Lots/Big Lots Stores."
 At the end of the third quarter 1991 Consolidated Stores Corporation operated 373 specialty retail stores; 361 "Odd Lots/Big Lots," and 12 "All For One," selling close out merchandise at substantial discounts. The company is one of the leading retailers and wholesalers of close out merchandise operating in fifteen Midwest and Southeast states.
 Following are the condensed operating results of the company (in thousands, except per share data).
 Thirteen Weeks Ended
 November 2 November 3
 1991 1990
 Net Sales $ 186,231 $ 166,774
 Operating profit 4,784 3,462
 Income/ (loss)
 before income taxes 2,961 766
 Net Income/ (loss) 1,830 468
 Earnings (loss)
 per share .04 .01
 Weighted average number
 of shares outstanding 45,831 45,661
 Thirty-nine Weeks Ended
 November 2 November 3
 1991 1990
 Net Sales $ 520,731 $ 465,857
 Operating Profit 9,668 3,169
 Income/ (loss)
 before income taxes 5,119 (4,057)
 Net Income/ (loss) 3,173 (2,449)
 Earnings (loss)
 per share .07 (.05)
 Weighted average number
 of shares outstanding 45,768 45,591
 -0- 11/14/91
 /CONTACT: William B. Snow, executive vice president and chief financial officer of Consolidated Stores Corporation, 614-278-6810/
 (CNS) CO: Consolidated Stores Corporation ST: Ohio IN: REA SU: ERN CG -- CL001 -- 4222 11/14/91 07:31 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 14, 1991
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