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THIRD-QUARTER RESULTS FOR JACOBSON STORES INC.

 THIRD-QUARTER RESULTS FOR JACOBSON STORES INC.
 JACKSON, Mich., Nov. 18 /PRNewswire/ -- Jacobson Stores Inc.


(NASDAQ: JCBS) today reported sales for the third quarter ended Oct. 26, 1991, of $87,820,000, compared to $88,305,000 last year. Net earnings for the quarter increased 317 percent to $1,156,000, or 20 cents per share from $277,000, or 5 cents per share in 1990.
 Sales for the 39 weeks ended Oct. 26 totaled $266,584,000, essentially unchanged from 1990. Net earnings for the nine months were $387,000, or 7 cents per share, compared to a net loss of $1,448,000, or 25 cents for the same period last year.
 "The improvement in operating results reflects how positively our organization has responded, achieving significant operational efficiencies in a difficult retail environment," said J.R. Fowler, chairman and CEO. "The most important part of the year is still ahead and we are going into the holiday season in a strong financial position."
 Jacobson's operates specialty department stores in 24 cities in Michigan, Ohio, Indiana and Florida.
 JACOBSON STORES INC.
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Unaudited; in thousands except per-share data)
 13 Weeks Ended 39 Weeks Ended
 Oct. 26 Oct. 27 Oct. 26 Oct. 27
 1991 1990 1991 1990
 Net sales $87,820 $88,305 $266,584 $266,532
 Earnings (loss) before
 income taxes 1,778 414 595 (2,161)
 Provision (credit) for
 income taxes 622 137 208 (713)
 Net earnings (loss) 1,156 277 387 (1,448)
 Per common share:
 Primary .20 .05 .07 (.25)
 Fully diluted .20 .05 .07 (.25)
 Average shares outstanding:
 Primary 5,788 5,779 5,786 5,779
 Fully diluted 6,844 6,835 6,843 6,835
 -0- 11/18/91
 /CONTACT: Paul W. Gilbert of Jacobson Stores Inc., 517-764-6400/
 (JCBS) CO: Jacobson Stores Inc. ST: Michigan, Ohio, Indiana, Florida IN: REA SU: ERN ML -- DE003 -- 1236 11/18/91 08:47 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 18, 1991
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