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PETRIE STORES REPORTS THIRD QUARTER AND NINE MONTHS RESULTS

      PETRIE STORES REPORTS THIRD QUARTER AND NINE MONTHS RESULTS
    SECAUCUS, N.J., Nov. 21 /PRNewswire/ -- Milton Petrie, chairman of the board, president and chief executive officer of Petrie Stores Corporation (NYSE: PST), announced today that sales for the three months ended Nov. 2, 1991, were $305,465,000 compared to $290,858,000 for the prior year.  For the nine months ended Nov. 2, 1991, sales were $966,727,000 compared to $905,327,000 for the prior year.
    For the three months ended Nov. 2, 1991, the company had a net loss of $(4,257,000) compared to a net loss of $(4,934,000) for the prior year.  Net earnings for the nine months ended Nov. 2, 1991, was $9,254,000 compared to $4,254,000 for the nine months ended Nov. 3, 1990.
                         PETRIE STORES CORPORATION
                         (Unaudited) (000s omitted)
      Three months ended:                    11/2/91   11/3/90
    Sales                                   $305,465  $290,858
    Earnings (loss) before equity
     earnings and income taxes                (7,151)   (7,788)
    Equity earnings (loss)                        --      (368)
    Earnings (loss) before income taxes       (7,151)   (8,156)
    Net earnings (loss)                       (4,257)   (4,934)
    Net earnings (loss) per share             ($0.09)   ($0.11)
    Weighted average number of shares         46,740    46,768
      Nine months ended:                     11/2/91   11/3/90
    Sales                                   $966,727  $905,327
    Earnings before equity earnings
     and income taxes                         15,414     7,928
    Equity earnings (loss)                        --      (589)
    Earnings before income taxes              15,414     7,339
    Net earnings                            $  9,254  $  4,254
    Net earnings per share                     $0.20     $0.09
    Weighted average number of shares         46,754    46,768
    Petrie Stores operates a chain of 1,697 women's specialty stores in all 50 states, Puerto Rico, the U.S. Virgin Islands, and the District of Columbia which specializes in the retail sale of a full selection of women's apparel at moderate prices to teen, junior and contemporary miss customers.
    -0-                      11/21/91
    /CONTACT:  Peter A. Left, secretary of Petrie Stores, 201-866-3600/
    (PST) CO:  Petrie Stores Corporation ST:  New Jersey IN:  REA SU:  ERN GK-TS -- NY043 -- 5854 11/21/91 11:37 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 21, 1991
Words:351
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