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CALLOWAY'S NURSERY ANNOUNCES SALES AND EARNINGS FOR STUB-YEAR AND QUARTER ENDED SEPT. 30, 1991

 CALLOWAY'S NURSERY ANNOUNCES SALES AND EARNINGS
 FOR STUB-YEAR AND QUARTER ENDED SEPT. 30, 1991
 FORT WORTH, Texas, Dec. 2 /PRNewswire/ -- Calloway's Nursery, Inc. (NASDAQ: CLWY) today released the following:
 Results for the Eight Months (Stub-year):
 Pretax earnings for the eight months, the best measure of the company's performance, were up 23.6 percent to $3.5 million, our best year yet. For the same eight months ending September 1990, we had pretax earnings of $2.8 million.
 After-tax earnings for the eight months were $2.1 million, or $.49 per share which were fully taxed as compared to after-tax earnings for the same period in 1990 of $2.3 million, or $.59 per share which included a $.14 per share benefit from a prior net operating loss.
 Sales for the eight months increased 34.1 percent to $23.5 million as compared to $17.5 million for the same period in 1990.
 Results for the Quarter
 After-tax earnings for the quarter ended Sept. 30, 1991, were $2,000 compared to $480,000 or $.12 per share for the same three months in 1990.
 Sales for the quarter ended Sept. 30, 1991, were up 9.3 percent to $4.6 million as compared to $4.2 achieved for the same months in 1990.
 Comments
 Calloway's trade area had an unusually early spring which the company took advantage of with a series of promotions aimed at stimulating earlier-than-normal consumer purchases. Customers bought early and in record numbers, and therefore, had less nursery needs later in the year. The success of this strategy is reflected both in the record sales and pretax earnings for the eight months and in the relatively slow September ending quarter.
 Three new stores are under construction in the Dallas/Fort Worth area as of this date. Their contribution to this fiscal year and beyond will enhance our ability to provide continued improvement in sales and earnings.
 -0- 12/2/91
 /CONTACT: Verna Perkins of Calloway's Nursery, 817-656-1122/
 (CLWY) CO: Calloway's Nursery Inc. ST: Texas IN: REA SU: ERN


CK -- NY035 -- 8317 12/02/91 11:42 EST
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Publication:PR Newswire
Date:Dec 2, 1991
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