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DRUG EMPORIUM REPORTS THIRD-QUARTER, NINE-MONTHS RESULTS

 DRUG EMPORIUM REPORTS THIRD-QUARTER, NINE-MONTHS RESULTS
 COLUMBUS, Ohio, Jan. 7 /PRNewswire/ -- Drug Emporium, Inc. (NASDAQ: DEMP) today reported 16-percent higher sales for the third fiscal quarter ended Nov. 30, 1991, with sales reaching $177.8 million compared to sales of $153.3 million in the corresponding three months last year. Net income amounted to $637,000 or five cents per share vs. $1,398,000 or 11 cents per share in the third quarter last year.
 For the nine months, net sales were up 23 percent to $541.5 million vs. $441.6 million a year ago. A net loss of $1,095,000 or eight cents per share compares with net income of $5,442,000 or 41 cents per share earned in the corresponding nine months last year.
 Gary Wilber, Drug Emporium chief executive officer, pointed out that same-store sales remain essentially flat in the face of a difficult economy. However, he noted that during the key Christmas selling period comparable-store sales were up six percent. He said the third-quarter and nine-months sales increases reflect additional stores. He added that the net results for the nine months reflect the significant adjustments and reserves set aside in the second quarter and that no similar adjustments or reserves were necessary in the third quarter.
 Wilber noted that the company is benefiting from the LIFO method of accounting for inventories as opposed to this time last year when it was necessary to increase the LIFO provision.
 Looking ahead, Wilber said, "We have been thoroughly planning strategic business and systems changes. We have a $32-million secured bank credit line in place which positions the company to implement these changes during the next fiscal year and begin to strengthen margins and profitability."
 Drug Emporium is a national deep-discount drugstore chain with 223 company-owned and franchised stores specializing in brand-name health and beauty aids, cosmetics and prescription drugs.
 DRUG EMPORIUM, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
 (In thousands except per-share amounts)
 Three Months Ended Nine Months Ended
 Nov. 30, Nov. 30,
 1991 1990 1991 1990
 Net sales $177,828 $153,312 $541,482 $441,595
 Cost of sales 140,738 121,571 434,544 350,186
 Selling, administrative
 and occupancy expenses 34,137 28,062 103,914 79,242
 Other expense 1,732 1,226 4,547 2,881
 Total cost and expenses 176,607 150,859 543,005 432,309
 Income (loss) before
 income taxes 1,221 2,453 (1,523) 9,286
 Provision (credit) for
 income taxes 584 1,055 (428) 3,844
 Net income (loss) $ 637 $ 1,398 $ (1,095) $ 5,442
 Net income (loss)
 per share $.05 $.11 $(.08) $.41
 Weighted average number
 of common and common
 equivalent shares
 (if dilutive) 13,124 13,158 12,945 13,211
 Subject to year-end audit.
 -0- 1/7/92
 /CONTACT: Gary Wilber, CEO, or Steve Pohlit, CFO, of Drug Emporium, Inc., 614-548-7080; or Investor Relations Consultants, 614-436-5592, for Drug Emporium, Inc./
 (DEMP) CO: Drug Emporium, Inc. ST: Ohio IN: REA SU: ERN


AW-SS -- FL006 -- 7317 01/07/92 12:27 EST
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Date:Jan 7, 1992
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