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CARTER HAWLEY HALE REPORTS NOVEMBER RESULTS

 CARTER HAWLEY HALE REPORTS NOVEMBER RESULTS
 LOS ANGELES, Jan. 10 /PRNewswire/ -- Carter Hawley Hale Stores


Inc. (NYSE: CHH) today reported a loss from operations before reorganization costs of $8.6 million for the four weeks ended Nov. 30, 1991, an improvement over the loss of $11.2 million in November 1990. Reorganization costs of $1.9 million increased this year's net loss to $10.5 million while an income tax benefit of $4.5 million reduced last year's net loss to $6.7 million.
 Combined November-December sales, which is the best way to compare year-to-year sales, were $582.8 million in this year's period, a decrease of 7.0 percent compared with the $626.8 million last year. On a comparative store basis, sales decreased 6.8 percent. Sales in November were distorted by the calendar shift of Thanksgiving and Christmas.
 With the conclusion of December holiday business, Carter Hawley Hale had $247.0 million of total cash and credit available as of Jan. 3, 1992.
 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)
 Four weeks ended
 Nov. 30, Dec. 1,
 1991 1990
 Sales $195,760 $222,743
 Costs and expenses
 Cost of goods sold, including
 occupancy and buying costs 152,703 170,290
 Selling, general and
 administrative expenses 43,858 52,293
 Earnings (loss) from operations before
 interest expense and
 reorganization costs (801) 160
 Interest expense, net 7,814 11,404
 Loss from operations before
 reorganization costs (8,615) (11,244)
 Reorganization costs 1,927 ---
 Pretax loss (10,542) (11,244)
 Income taxes --- (4,500)
 Net loss ($10,542) ($6,744)
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-Possession)
 Consolidated Balance Sheet
 (In thousands)
 (Unaudited)
 Nov. 30, Dec. 1,
 1991 1990
 Assets:
 Current Assets
 Cash $56,207 $17,291
 Accounts receivable, net 608,317 685,609
 Merchandise inventories 473,255 471,228
 Receivable on sale of
 Thalhimers --- 316,903
 Other current assets 27,569 24,184
 Total 1,165,348 1,515,215
 Property and equipment, net 507,121 498,222
 Other asset 96,848 101,811
 Total $1,769,317 $2,115,248
 Liabilities and Shareholders'
 Equity
 Current liabilities
 Notes payable and
 current installments $132,748 $284,454
 Accounts payable and
 accrued liabilities 362,634 443,386
 Income Taxes 11,577 297
 Total 506,959 728,137
 Liabilities subject to
 settlement under
 reorganization proceedings 574,983 ---
 Receivables based financing 440,832 602,077
 Other long-term debt 453,174 805,571
 Capital lease obligations 56,113 62,723
 Other liabilities 83,261 99,868
 Deferred income taxes 21,826 29,897
 Shareholders' deficit (367,831) (213,025)
 Total $1,769,317 $2,115,248
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-Possession)
 Consolidated Statement of Cash Flows
 (In thousands)
 (Unaudited)
 Four Weeks Ended
 Nov. 30, Dec. 1,
 1991 1990
 Operating activities
 Loss from operations
 before reorganization
 items ($8,615) ($6,744)
 Adjustments to reconcile
 loss from operations to
 net operating cash flows
 Depreciation and
 amortization 3,263 3,711
 Change in operating
 assets and liabilities
 Accounts receivable, net (22,149) (38,997)
 Merchandise inventories (35,433) (7,222)
 Accounts payable and
 accrued liabilities 42,882 36,620
 Other, net 6,273 (3,241)
 Net cash used by
 operating activities
 before reorganization
 items (13,779) (15,873)
 Operating cash flows
 from reorganization
 items
 Professional fees paid
 for services rendered
 in connection with the
 Chapter 11 proceedings (1,927) ---
 Net cash used by
 operating activities (15,706) (15,873)
 Investing activities
 Purchases of property
 and equipment (4,939) (5,968)
 Financing activities
 Postpetition debt
 activity
 Net increase in
 outstanding
 financing under
 receivables facility 2,942 ---
 Net increase in notes
 payable issued under
 working capital
 facility 34,000 ---
 Prepetition debt
 activity
 Net funding under
 terminated receivables
 based financing
 facility --- 27,727
 Reductions in capital
 lease obligations (189) (224)
 Net cash provided by
 financing activities 36,753 27,503
 Net increase in cash 16,108 5,662
 Cash at the beginning
 of the period 40,099 11,629
 Cash at the end of the
 period $56,207 $17,291
 -0- 1/10/92
 /CONTACT: Bill Dombrowski of Carter Hawley Hale Stores Inc., 213-239-6522/
 (CHH) CO: Carter Hawley Hale Stores Inc. ST: California IN: REA SU: ERN


EH-KJ -- LA003 -- 8512 01/10/92 08:31 EST
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