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BOMBAY ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS

 FORT WORTH, Texas, Aug. 5 /PRNewswire/ -- The Bombay Company, Inc. (NYSE: BBA) reported net income for the quarter ended July 4, 1993 increased 110 percent to $3,158,000 or $0.13 per share compared to $1,502,000 or $0.07 per share for the quarter ended June 28, 1992. Net income for the fiscal year ended July 4, 1993 was $8,190,000 or $0.35 per share, which includes a $13 million reserve for store conversion costs, equivalent to $0.33 per share. This compares to net income of $9,602,000 or $0.44 per share in the prior year. Excluding the store conversion reserve, net income per share would have been $0.68 for the current fiscal year, a 55 percent increase over the prior year.
 Sales for the quarter ended July 4, 1993 were $60,031,000, an increase of $20,093,000 or 50 percent over the quarter ended June 28, 1992. Sales for the fiscal year ended July 4, 1993 were $231,737,000, an increase of $55,714,000 or 32 percent over the prior year. The current quarter and fiscal year are 14 week and 53 week periods, respectively, one week longer than last year due to the company's retail calendar.
 For the comparable quarter and fiscal year ended July 4, 1993, same store sales increased 22 percent for the quarter and 15 percent for the year. Same store include 25 stores which were converted to a larger format during the last 12 months. Excluding these larger format stores, same store sales increased 17 percent for the quarter and 11 percent for the fiscal year.
 Robert E. M. Nourse, president and chief executive officer, stated that fiscal 1993 was an outstanding year for both sales and operating earnings. Mr. Nourse noted that during the year the company increased its store count by 41 stores, including 18 larger format Bombay stores and six Alex & Ivy stores, as well as 25 conversions to Bombay's larger format. He further noted that the store development program is on target and, by the end of the calendar year, should approach 100 larger format Bombay stores and approximately 25 Alex & Ivy stores.
 The Bombay Company, Inc. is a specialty retailer marketing traditionally styled furniture, prints and accessories through a network of 386 Bombay and Alex & Ivy stores in the United States and Canada.
 BOMBAY COMPANY, INC. AND SUBSIDIARIES
 Consolidated Statements Of Income
 (In thousands, except per share amounts)
 Quarter Year
 Period ended 7/4/93 6/28/92 7/4/93 6/28/92
 Net sales $60,031 $39,938 $231,737 $176,023
 Costs and expenses:
 Cost of sales, buying and
 store occupancy costs 35,699 24,459 134,260 130,906
 SG&A expenses 19,443 13,091 71,555 56,225
 Store conversion costs --- --- 13,000 ---
 Interest (income) expense (291) (75) (507) 151
 Income before income taxes 5,180 2,463 13,429 15,741
 Provision for income taxes 2,022 961 5,239 6,139
 Net income $3,158 $1,502 $8,190 $9,602
 Average common shares and
 common equivalent shares
 outstanding 25,264 22,428 23,708 22,023
 Net income per average
 common share and common
 equivalent share $0.13 $0.07 $0.35 $0.44
 The quarter and year ended July 4, 1993 represent 14 and 53 week periods, respectively.
 All share and per share amounts reflect all stock splits paid through July 1, 1993.
 The year ended July 4, 1993 includes store conversion costs of $13 million recorded in the third quarter, equivalent to $0.33 per share.
 CONTACT: Robert E. M. Nourse, president and CEO, of The Bombay Company, Inc., 817-347-8200
 (BBA)
 -0- 08/05/93


CO: THE BOMBAY COMPANY, INC. IN: REA SU: ERN ST: TX

-- NY073 -- X303 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
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