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FILENE'S BASEMENT SAYS 1992 RESULTS WILL MEET ANALYSTS ESTIMATES AND EXPECTS $100 MILLION SALES IN GROWTH IN 1993

 WELLESLEY, Mass., March 1 /PRNewswire/ -- Filene's Basement Corp. (NASDAQ: BSMT) expects to report earnings before extraordinary items for its 1992 fiscal year in line with Wall Street estimates of about 87 cents per share (compared with 81 cents per share in 1991), Jim Anathan, president, told analysts at a meeting today.
 Anathan said for fiscal 1992, the company would report total sales up 14 percent, with comp store sales slightly positive. He pointed out that over the last two years the company's revenues grew by more than 30 percent. In outlining plans for 1993, total sales could grow by $100 million or 18 percent higher than last year with the potential for earnings to be substantially better than 1992.
 At the same time, Anathan cautioned analysts at the meeting that the company would report sales for February well below expectations as a result of unfavorable weather conditions and lower levels of spring merchandise inventories compared to last year. He added, "February is the lowest sales volume month for us in the first quarter and it is still too early to say how the spring selling period will develop. As we go into March, our stores are now fully stocked with fresh spring merchandise. Thus, while I cannot quantify our first quarter's results at this time, our outlook for the whole of 1993, is positive."
 Last month, the company announced plans to opens 12 new stores in 1993, including up to four stores in Washington D.C., the third new market entry in three years. In 1992, the company opened stores in the Minneapolis-St. Paul markets; and it entered the Chicago market in 1991.
 Filene's Basement Corp., operates specialty stores which offer quality, branded assortments of men's and women's apparel at prices 20 percent to 60 percent below department and specialty store prices. The company currently operates 49 stores in the Northeast and Midwest.
 -0- 3/1/93
 /CONTACT: Gary Crittenden of Filene's Basement Corp., 617-348-7156/
 (BSMT)


CO: Filene's Basement ST: Massachusetts IN: REA SU: ERP

TM -- NE013 -- 1400 03/01/93 12:00 EST
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Publication:PR Newswire
Date:Mar 1, 1993
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