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CARTER HAWLEY HALE REPORTS DECEMBER RESULTS

 CARTER HAWLEY HALE REPORTS DECEMBER RESULTS
 LOS ANGELES, Feb. 10 /PRNewswire/ -- Carter Hawley Hale Stores Inc.


(NYSE: CHH) today reported net income for the five weeks ended Jan. 4, 1992 of $43.6 million, compared with $30.1 million in the similar prior year period.
 Sales for the monthly period were $387.1 million, a 4.2 percent decrease from the $404.1 million record in the five weeks ended Jan. 5, 1991. On a comparable stores basis, sales decreased 4.0 percent for the period.
 Carter Hawley Hale Stores Inc. operates 88 stores under the names of The Broadway, The Broadway Southwest, Emporium and Weinstocks.
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-possession)
 Consolidated Statement of Earnings
 (In thousands)
 (Unaudited)
 Five Weeks Ended
 Jan. 4, Jan. 5,
 1992 1991
 Sales $387,119 $404,064
 Costs and expenses:
 Cost of goods sold, including
 occupancy and buying costs 271,957 280,496
 Selling, general and
 administrative expenses 60,972 59,796
 Earnings from operations before
 interest expense and
 reorganization costs 54,190 63,772
 Interest expense, net 9,034 13,620
 Earnings from operations before
 reorganization costs 45,156 50,152
 Reorganization costs 1,540 ---
 Pretax earnings 43,616 50,152
 Income taxes --- (20,050)
 Net income $43,616 $30,102
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-Possession)
 Consolidated Balance Sheet
 (In thousands)
 (Unaudited)
 Jan. 4, Jan. 5,
 1992 1991
 Assets:
 Current Assets
 Cash $68,548 $31,944
 Restricted cash deposits --- 45,437
 Accounts receivable, net 688,514 780,588
 Merchandise inventories 356,127 367,408
 Other current assets 20,144 24,905
 Total 1,133,333 1,250,282
 Property and equipment, net 508,284 500,054
 Other asset 94,793 103,716
 Total $1,736,410 $1,854,052
 Liabilities and Shareholders'
 Equity:
 Current liabilities
 Notes payable and
 current installments $32,866 $3,622
 Accounts payable and
 accrued liabilities 342,599 383,106
 Income Taxes 9,133 13,564
 Total 384,598 400,292
 Liabilities subject to
 settlement under
 reorganization proceedings 552,259 ---
 Receivables based financing 509,839 658,229
 Other long-term debt 453,174 802,175
 Capital lease obligations 55,444 62,483
 Other liabilities 83,495 83,881
 Deferred income taxes 21,816 29,897
 Shareholders' deficit (324,215) (182,905)
 Total $1,736,410 $1,854,052
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-Possession)
 Consolidated Statement of Cash Flows
 (In thousands)
 (Unaudited)
 Five Weeks Ended
 Jan. 4, Jan. 5,
 1992 1991
 Operating activities
 Earnings from operations
 before reorganization
 items $45,156 $30,102
 Adjustments to reconcile
 earnings from operations to
 net operating cash flows:
 Depreciation and
 amortization 4,028 5,363
 Change in operating
 assets and liabilities:
 Restricted cash deposits --- (45,437)
 Accounts receivable, net (82,492) (85,826)
 Merchandise inventories 117,128 103,820
 Accounts payable and
 accrued liabilities (45,205) (60,280)
 Other, net 11,873 (14,492)
 Net cash provided (used)
 by operating activities
 before reorganization
 items 50,488 (66,750)
 Operating cash flows
 from reorganization
 items:
 Professional fees paid
 for services rendered
 in connection with the
 Chapter 11 proceedings (1,540) ---
 Net cash provided (used)
 by operating activities 48,948 (66,750)
 Investing activities:
 Proceeds from sale of
 Thalhimers --- 317,000
 Purchases of property
 and equipment (5,063) (7,281)
 Net cash provided (used)
 by investing activities (5,063) 309,719
 Financing activities:
 Postpetition debt
 activity
 Net increase
 in outstanding
 financings under
 receivables facility 69,007 ---
 Net decrease in notes
 payable issued under
 working capital
 facility (100,000) ---
 Prepetition debt
 activity
 Net decrease in
 outstanding financing
 under terminated
 receivables facility --- (64,837)
 Net decrease in notes
 payable issued under
 terminated working
 capital facility --- (93,000)
 Retirement of long-term
 debt and capital
 lease obligations (551) (70,479)
 Net cash used by
 financing activities (31,544) (228,316)
 Net increase in cash 12,341 14,653
 Cash at the beginning
 of the period 56,207 17,291
 Cash at the end of the
 period $68,548 $31,944
 -0- 2/10/92
 /CONTACT: Bill Dombrowski, VP-corporate affairs of Carter Hawley Hale Stores Inc., 213-239-6522/
 (CHH) CO: Carter Hawley Hale Stores Inc. ST: California IN: REA SU: ERN


EH-JL -- LA011 -- 8118 02/10/92 08:34 EST
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Date:Feb 10, 1992
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