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1992 NET INCOME $15.4 MILLION

 HARRISON, N.J., March 22 /PRNewswire/ -- Lechters, Inc. (NASDAQ: LECH) announced today that net income for the fiscal year ended Jan. 30, 1993 ("fiscal 1992") was $15,388,000 as compared with net income of $13,025,000 for the fiscal year ended Jan. 25, 1992 ("fiscal 1991"), an increase of 18 percent. Net income per share for fiscal 1992 was $.90 as compared with $.80 for fiscal 1991. Sales of $306,043,000 for the 53 weeks ended Jan. 30, 1993 represents an increase of 31 percent over sales of $234,314,000 for the 52 weeks ended Jan. 25, 1992. For the 53 weeks ended Jan. 30, 1993, the company's comparable store sales increased 2.8 percent as compared to the 53 week period ended Feb. 1, 1992.
 For the fourteen week period ended Jan. 30, 1993, the company's net income was $11,502,000 as compared with net income of $9,688,000 for the thirteen week period ending Jan. 25, 1992, an increase of 19 percent. Net income per share for this period was $.67 compared with $.56 for the prior year's comparable period. Sales for the fourteen week period were $124,112,000 as compared with sales of $91,847,000 for the thirteen week period ending Jan. 25, 1992, an increase of 35 percent. The company's comparable store sales increased 5.2 percent during the fourteen week period ended Jan. 30, 1993 as compared to the thirteen week period ended Jan. 25, 1992.
 Lechters, Inc., based in Harrison, operates 513 specialty houseware stores in 39 states as compared to 438 stores on Jan. 25, 1992, an increase of 17 percent.
 LECHTERS, INC.
 (Dollar amounts in thousands, except per share data)
 14 Weeks 13 Weeks 53-Weeks 52-Weeks
 ended ended ended ended
 1/30/93 1/25/92 1/30/93 1/25/92
 Sales $124,112 $91,847 $306,043 $234,314
 Cost of goods sold
 (including occupancy
 and indirect costs) 81,495 60,430 207,211 158,581
 Gross profit 42,617 31,417 98,832 75,733
 Selling, General and
 Administrative Expenses 23,034 15,908 71,903 53,849
 Operating Income 19,583 15,509 26,929 21,884
 Non-operating
 (income)/expense: 1,893 1,770 7,219 4,085
 Interest income ( 555) (1,142) (3,204) (2,201)
 Gains on sale of
 government securities (20) (284) (1,518) (284)
 Total non-operating
 (income)/expense 1,318 344 2,497 1,600
 Income before income
 tax provision 18,265 15,165 24,432 20,284
 Income tax provision 6,763 5,477 9,044 7,259
 Net income 11,502 9,688 15,388 13,025
 Net income per
 share primary 0.67 0.56 0.90 0.80
 Fully diluted 0.63 0.53 0.90 0.80
 Weighted average primary
 shares outstanding 17,170,000 17,150,000 17,178,000 16,322,000
 -0- 3/22/93
 /CONTACT: Philip J. Reilly, vice president and CFO of Lechters, Inc., 201-481-1100/
 (LECH)


CO: Lechters, Inc. ST: New Jersey IN: REA SU: ERN

AH-KW -- NY092 -- 8391 03/22/93 17:12 EST
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Publication:PR Newswire
Date:Mar 22, 1993
Words:519
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