Clothestime announces first quarter financial results.

ANAHEIM, Calif.--(BUSINESS WIRE)--June 6, 1997--The Clothestime Inc. (NASDAQ:CTMEQ) Friday announced results for the first quarter ended April 26, 1997.

Sales for the quarter were $42.5 million compared with $43.7 million last year.

Net loss for the quarter was $3.4 million, compared with a net loss of $5.9 million for the same period last year. Loss per share was $0.24 compared with a $0.41 loss per share for the same period last year.

Clothestime Stores currently operates 322 women's apparel stores in 17 states and Puerto Rico, offering primarily in-season, moderately-priced sportswear, dresses and accessories, emphasizing fashion at a discount from department and specialty stores. -0-

                         The Clothestime Inc.
              Summary Results of Operations (Unaudited)
              (000's Omitted, Except Per Share Amounts)

                                           Period Ending

                                April 26, 1997     April 27, 1996

Net Sales                           $42,482            $43,667
Net Loss                            $ 3,380            $ 5,852
Loss Per Share                      $  0.24            $  0.41
Average Shares Outstanding           14,198             14,198

On Dec. 8, 1995, The Clothestime Stores Inc., and five of its subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code.

CONTACT: Clothestime Inc.

Douglas L. Pereira, 714/779-5881, Ext. 2410