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WAREHOUSE CLUB, INC. REPORTS RESULTSFOR FISCAL YEAR AND FOURTH QUARTER ENDED OCT. 3, 1992

 CHICAGO, Nov. 24 ~PRNewswire~ -- Warehouse Club Inc. (NASDAQ: WCLB) ("WCLB"), the Chicago headquartered wholesale cash-and-carry merchandiser, reported financial results for the 1992 fiscal year and the fourth quarter ended Oct. 3, 1992.
 The company had a profit of $122,391, or $0.01 per share for fiscal 1992 as compared to a loss of $529,288, or $0.07 per share in fiscal 1991. Net sales for the year of $233.4 million decreased $9.2 million, or 3.8 percent versus the prior year. Fiscal 1992 was a 53 week year compared to a 52 week year in fiscal 1991. On a comparative 52 week basis, sales for fiscal 1992 decreased $13.5 million, or 5.6 percent below fiscal 1991.
 Sales for the fourth fiscal quarter increased 7.0 percent from $55.8 million in fiscal 1991 to $59.7 million in fiscal 1992, due to fiscal 1992 having 53 weeks in the year compared to 52 weeks in fiscal 1991. On a comparable 13 week quarterly basis, the company had a sales decrease of 0.6 percent. The company incurred a loss of $232,000, or $0.01 per share as compared to a loss of $666,000, or $0.09 per share in the fourth quarter of 1991.
 The company's line of credit of $1 million has been extended through Dec. 31, 1993 by American National Bank.
 The company is pleased with its progress since the completion of its Rights Offering on Nov. 30, 1991. The company has built inventory levels and has increased and stabilized its in-stock position. The company has added a number of programs in the fourth quarter of fiscal 1992, directed at improving the value of its membership and increasing sales. The company implemented a membership and price guarantee program to insure its members complete satisfaction with their membership, and to establish that the members are receiving the best price available on merchandise. The company added fresh meat in two locations, and juvenile apparel in all locations. In August, the company began accepting the Discover Credit Card aimed at increasing the average purchase for members.
 Warehouse Club Inc. operates a chain of ten wholesale cash-and-carry members only warehouse stores selling high-quality merchandise at wholesale or near wholesale prices. The company's stores are located in metropolitan areas in the upper midwestern United States. The company's customers are comprised of businesses that purchase items for commercial use or resale and selected groups of individual retail customers.
 WAREHOUSE CLUB, INC.
 Key Financial and Operating Data
 (In Thousands Except Per Share Data)
 Fourth Quarter Year-To-Date
 Periods ended Sept. 30
 1992 1991 1992 1991
 Income Statement Data
 Net sales $59,704 $55,822 $233,414 $242,571
 Cost of goods sold 54,001 50,478 210,795 219,375
 Gross margin 5,703 5,344 22,619 23,196
 Fee, membership and
 other income 1,766 1,647 7,115 7,231
 Total 7,469 6,991 29,734 30,427
 Warehouse operating, general
 and administrative expenses 7,471 7,192 28,773 29,467
 Provision for warehouse
 closing expenses 78 130 78 230
 Interest expense 137 303 665 1,133
 Total 7,686 7,625 29,516 30,830
 Net income (loss) before taxes
 and extraordinary item (217) (634) 218 (403)
 Provision for income taxes (129) 32 127 126
 Net income (loss) before
 extraordinary item (88) (666) 91 (529)
 Extraordinary item, income tax
 benefit of prior year's net
 operating loss carryforward (144) -- 31 --
 Net income (loss) $ (232) $ (666) $ 122 $ (529)
 Net income (loss) per common share
 - Before extraordinary item (0.00) (0.09) 0.00 (0.07)
 - Extraordinary item (0.01) 0.00 0.00 0.00
 - Net income (loss) per
 common share (0.01) (0.09) 0.01 (0.07)
 Balance Sheet Data:
 Working capital (net) $ 3,129 $ (5,459)
 Total assets $ 50,274 $ 47,924
 Long-term debt less current portion $ 9,223 $ 9,663
 Stockholders' equity $ 15,835 $ 7,808
 -0- 11~24~92
 ~CONTACT: Steven J. Zabel, controller of Warehouse Club, 708-679-6800~
 (WCLB)


CO: Warehouse Club, Inc. ST: Illinois IN: SU: ERN

TM -- NY084 -- 1325 11~24~92 19:38 EST
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Date:Nov 24, 1992
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