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LECHTERS REPORTS RESULTS

 LECHTERS REPORTS RESULTS
 HARRISON, N.J., Aug. 18 /PRNewswire/ -- Lechters, Inc.


(NASDAQ: LECH) announced today that net income for the 26 week period ended July 25, 1992 was $1,146,000 as compared with $970,000 for the prior year's comparable period, an increase of 18 percent. Net income per share for this period was $0.07 as compared with $0.06 for the fiscal 1991 comparable period. Sales for the 26 week period ended July 25, 1992 increased 28 percent to $112,566,000 from the $87,667,000 reported for the prior year's comparable period.
 Net income for the 13 week period ended July 25, 1992 was $653,000 as compared with $618,000 for the prior year's comparable period, an increase of 6 percent. Net income per share for this period was $0.04, unchanged from the 1991 comparable period. Sales for the 13 week period ended July 25, 1992 increased 27 percent to $59,674,000 from the $46,881,000 reported for the prior year's comparable period.
 As of July 25, 1992 the company operated 482 stores in 38 states as compared to 395 stores on July 27, 1991, an increase of 22 percent in the number of stores open. The company's comparable store sales increased 0.1 percent during the 13 week period ended July 25, 1992 as compared with the prior year's comparable period.
 LECHTERS, INC.
 (Unaudited)
 26 weeks ended 7/25/92 7/27/91
 Sales $112,566,000 $87,667,000
 Cost of goods sold
 (including occupancy
 & indirect costs) 78,331,000 60,690,000
 Gross profit 34,235,000 26,977,000
 S,G&A expenses 30,831,000 24,630,000
 Interest expense 1,555,000 885,000
 Income before income
 tax provision 1,849,000 1,462,000
 Income tax provision 703,000 492,000
 Net income 1,146,000 970,000
 Per share earnings $0.07 $0.06
 Weighted average shares
 outstanding 17,209,000 15,485,000
 13 weeks ended 7/25/92 7/27/91
 Sales $59,674,000 $46,881,000
 Cost of goods sold
 (including occupancy
 & indirect costs) 41,379,000 32,382,000
 Gross profit 18,295,000 14,499,000
 S,G&A expenses 16,293,000 13,174,000
 Interest expense 940,000 432,000
 Income before income
 tax provision 1,062,000 893,000
 Income tax provision 409,000 275,000
 Net income 653,000 618,000
 Per share earnings $0.04 $0.04
 Weighted average shares
 outstanding 17,185,000 16,399,000
 -0- 8/18/92
 /CONTACT: Philip J. Reilly, vice president and chief financial officer of Lechters, 201-481-1100/
 (LECH) CO: Lechters, Inc. ST: New Jersey IN: REA SU: ERN


PS-SM -- NY074 -- 1117 08/18/92 17:10 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
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