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EDISON BROTHERS REPORTS 1992 OPERATING EARNINGS UP 16.9 PERCENT

 ST. LOUIS, March 11 /PRNewswire/ -- Edison Brothers Stores, Inc. (NYSE: EBS) achieved record operating earnings in 1992, it was reported today by Andrew E. Newman, chairman, and Martin Sneider, president.
 Net income for the 52 weeks ended Jan. 30, 1993 (excluding a one- time charge related to benefits for retirees) was $71.1 million, an increase of 16.9 percent over net income of $60.8 million for the 52 weeks ended Feb. 1, 1992. Per-share earnings were $3.27 in 1992 and $2.83 in 1991.
 The one-time after-tax charge of $23.1 million or $1.06 per share resulted from the company's adoption of the required new method of accounting for previously earned but unpaid medical and life insurance benefits for its retirees. For the full year, net income including this charge was $48.0 million or $2.21 per share. This charge was applied to earnings of the first quarter of 1992, and therefore does not affect fourth-quarter results.
 Net income for the fourth quarter of 1992 was $35.6 million, an increase of 23.2 percent compared with $28.9 million of net income for the fourth quarter of 1991. Fourth-quarter per-share earnings were $1.63 in 1992 and $1.34 in 1991.
 As previously reported, sales for 1992 were a record $1.51 billion, an increase of 8.9 percent over sales of $1.39 billion in 1991. Fourth- quarter sales were $471.5 million in 1992, a gain of 7.0 percent over sales of $440.7 million in the fourth quarter of 1991.
 Edison reported that same-store sales grew moderately in 1992. The company's footwear group set the pace in operating profit growth for the year, with both the Bakers/Leeds and Wild Pair chains performing well. The J. Riggings and JW/Jeans West menswear chains continued to lead the company's apparel segment in sales and operating profit.
 During 1992 Edison Brothers added 214 stores, including the acquisition of 39 Harry's big-and-tall stores. The company closed 120 stores and sold 88 Joan Bari and Cabaret stores, ending the year with 2,787 units in operation. About 150 new stores are planned for 1993, not including possible acquisitions.
 Edison Brothers Stores, Inc., operates JW/Jeans West, Oaktree, J. Riggings, Coda, Zeidler & Zeidler/Webster, and Repp Ltd./Harry's men's apparel stores; 5-7-9 Shops junior apparel stores and Spirale girls' apparel stores; Bakers, Leeds, Precis, Wild Pair, Velocity, and Sacha London footwear stores; Dave & Buster's restaurant/entertainment complexes; and Time-Out, Space Port, and Exhilarama family entertainment centers.
 EDISON BROTHERS STORES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Income
 (In millions, except per share data)
 13 Weeks Ended 52 Weeks Ended
 1/30/93 2/1/92 1/30/93 2/1/92
 Net Sales $471.5 $440.7 $1,508.8 $1,385.3
 Cost of goods sold,
 occupancy and buying
 expenses 300.8 287.5 967.1 894.3
 Store operating and
 admin. expenses 93.9 88.6 347.0 316.2
 Depreciation & amort. 15.5 14.7 63.0 59.5
 Interest expense, net 4.6 4.5 18.7 18.8
 TOTAL 414.8 395.3 1,395.8 1,288.8
 Inc. bef. inc. taxes 56.7 45.4 113.0 96.5
 Provision for inc. taxes 21.1 16.5 41.9 35.7
 Inc. bef. the change
 in accounting principle 35.6 28.9 71.1 60.8
 Cumulative effect of
 the change in accounting
 principle -- -- 23.1 --
 Net Income $ 35.6 $ 28.9 $ 48.0 $ 60.8
 Per Common Share:
 Income before the
 change in accounting
 principle $ 1.63 $ 1.34 $ 3.27 $ 2.83
 Cumulative effect of
 the change in
 accounting principle -- -- (1.06) --
 Net Income $ 1.63 $ 1.34 $ 2.21 $ 2.83
 Cash dividends paid $ .31 $ .28 $ 1.15 $ 1.06
 Wtd. avg. common shares
 outstanding
 (in thousands) 21,886 21,561 21,744 21,489
 -0- 3/11/93
 /CONTACT: Lee G. Weeks of Edison Brothers Stores, 314-331-6531/
 (EBS)


CO: Edison Brothers Stores, Inc. ST: Missouri IN: REA SU: ERN

SH -- NY023 -- 5042 03/11/93 10:22 EST
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Date:Mar 11, 1993
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