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HECHINGER COMPANY ANNOUNCES THIRD QUARTER EARNINGS

 HECHINGER COMPANY ANNOUNCES THIRD QUARTER EARNINGS
 LANDOVER, Md., Nov. 26 /PRNewswire/ -- Hechinger Company


(NASDAQ: HECHA and HECHB) today announced that net earnings for the third quarter of fiscal 1991 rose 33 percent to $6.5 million ($.16 per share, which includes the effect of the additional shares outstanding as a result of the June 1991 public offering) compared to $4.9 million ($.15 per share) last year. Sales for the third quarter increased 15 percent to $400.6 million compared to last year's $349.0 million. Comparable store sales were up 2 percent for the quarter.
 For the first nine months of fiscal 1991, net earnings were $27.6 million ($.71 per share), up 14 percent from $24.1 million ($.68 per share) in fiscal 1990. Sales rose to $1.25 billion from last year's $1.08 billion. Comparable store sales were up 1 percent for the first nine months of this year.
 John Hechinger Jr., president and chief executive officer of the company, said: "We are pleased with the third quarter results. Despite the continuing effects of the sluggish economy, and the cautious approach consumers are taking with their purchases, both our Home Quarters and Hechinger divisions continue to turn in strong performances. Operating income (which is earnings before taxes and before interest income and expense) increased 43 percent during the quarter."
 Hechinger added: "Our two-fold strategy remains on course. This strategy entails the expansion of our Home Quarters Warehouse division as our principle growth vehicle, while repositioning our Hechinger division to expand our per store sales productivity. New Hechinger stores are planned to open early next year in Leesburg, Va., and Reading, Pa. We are also on target with our plans to expand our Home Quarters division. Over the next 12 to 18 months we expect to establish significant new positions in St. Louis with five stores, Cincinnati and Louisville, Ky., with three stores each, and Memphis, Tenn., with two stores. We expect to open a total of 14 new Home Quarters stores in 1992."
 Hechinger Company, a chain of specialty retail do-it-yourself home centers, currently operates 83 Hechinger stores, 30 Home Quarters Warehouse stores and six Triangle Building Centers in 15 states and the District of Columbia.
 HECHINGER COMPANY
 Consolidated Statements of Earnings
 (in thousands except per share data)
 13 Weeks Ended 39 Weeks Ended
 Nov. 2,1991 Nov. 3,1990 Nov. 2,1991 Nov. 3,1990
 Revenues
 Net Sales $400,571 $348,993 $1,250,056 $1,083,322
 Other
 (principally
 interest) 1,765 2,079 4,414 3,969
 Total Revenues 402,336 351,072 1,254,470 1,087,291
 Costs and Expenses
 Cost of Sales 304,896 260,949 940,600 808,332
 Selling, general
 and administrative
 expenses 84,621 80,293 263,077 235,047
 Interest expense 3,620 2,713 10,864 8,974
 Total Costs and
 Expenses 393,137 343,955 1,214,541 1,052,353
 Earnings Before
 Income Taxes 9,199 7,117 39,929 34,938
 Income Taxes 2,663 2,206 12,374 10,830
 Net Earnings 6,536 4,911 27,555 24,108
 Net Earnings Per
 Common Share $.16 $.15 $.71 $.68
 -0- 11/26/91
 /CONTACT: Lennie Zallar, vice president and treasurer, Hechinger Company, 301-925-3170/
 (HECHA HECHB) CO: Hechinger Company ST: Maryland IN: SU: ERN


SB -- DC007 -- 7235 11/26/91 11:05 EST
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Date:Nov 26, 1991
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