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FREDERICK'S OF HOLLYWOOD REPORTS RESULTS

 FREDERICK'S OF HOLLYWOOD REPORTS RESULTS
 LOS ANGELES, Oct. 26 /PRNewswire/ -- Frederick's of Hollywood


Inc. (NYSE: FHO) today reported operating results for the fiscal year and fourth quarter ended Aug. 29, 1992.
 For the most recent 12-month period, net earnings amounted to $5,073,000, equal to $.57 per share, compared with $5,197,000, or $.58 per share, for the prior fiscal year. Sales for fiscal 1992 rose slightly to $117,030,000 from $114,134,000 a year ago.
 For the fourth quarter ended Aug. 29, 1992, net earnings advanced 11 percent to $1,376,000, equal to $.15 per share, from $1,236,000, or $.14 per share, for the corresponding prior-year period. Sales for the three-month period rose 8 percent to $28,296,000 from $26,144,000 last year.
 George W. Townson, chairman and chief executive officer, said results for fiscal 1992 were impacted by weak economic conditions throughout the retail industry, particularly in California, which accounted for approximately 28 percent of the company's total comparable store volume. The retail stores registered a 32 percent decline in operating profits for the year on slightly higher sales that reflected new stores in operation. Comparable store sales declined 5 percent. During the year, 20 new stores were opened, and six were closed.
 Townson stated that the mail order subsidiary posted a 75 percent increase in operating profits for the year on a 6 percent sales improvement. More than 33 million catalogs were distributed throughout the year, reflecting a 4 percent increase over fiscal 1991. The improvement in mail order operating profits primarily reflected lower promotional and advertising expenses.
 "Softness in the retail sector is continuing as we proceed into the new fiscal year," said Townson. "Nevertheless, management is dedicated to exploring new avenues to enhance sales and earnings. It is gratifying that despite today's challenging business environment, the company's financial condition remains strong and showed improvements in all key areas of measurement for fiscal 1992," Townson added.
 Frederick's operates 209 specialty stores in 39 states and a mail-order division serving customers in all 50 states.
 FREDERICK'S OF HOLLYWOOD INC. AND SUBSIDIARIES
 Consolidated Condensed Statement of Earnings
 Fiscal Year Ended Three Months Ended
 Aug. 29, Aug. 31, Aug. 29, Aug. 31,
 1992 1991 1992 1991
 Net sales $117,030,000 $114,134,000 $28,296,000 $26,144,000
 Earnings before
 income taxes 8,018,000 8,662,000 1,698,000 1,892,000
 Federal and state
 income taxes 2,945,000 3,465,000 322,000 656,000
 Net earnings 5,073,000 5,197,000 1,376,000 1,236,000
 Net earnings
 per share
 Primary $.57 $.58 $.15 $.14
 Fully diluted $.57 $.58 $.15 $.14
 Weighted average
 number of shares
 outstanding
 Primary 8,968,000 8,980,000 8,907,000 9,082,000
 Fully diluted 8,968,000 9,014,000 8,907,000 9,082,000
 -0- 10/26/92
 /CONTACT: George W. Townson or John B. Hatfield of Frederick's of Hollywood, 213-466-5151; or Roger S. Pondel of Pondel Parsons & Wilkinson, 310-207-9300, for Frederick's of Hollywood/
 (FHO) CO: Frederick's of Hollywood Inc. ST: California IN: REA SU: ERN


LS-TM -- LA006 -- 4735 10/26/92 11:30 EST
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Date:Oct 26, 1992
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