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CARTER HAWLEY HALE REPORTS SECOND QUARTER RESULTS

 CARTER HAWLEY HALE REPORTS SECOND QUARTER RESULTS
 LOS ANGELES, Sept. 11 /PRNewswire/ -- Carter Hawley Hale Stores


Inc. (NYSE: CHH) today reported results for the second quarter and first six months of fiscal 1992.
 The net loss for the quarter was $14.6 million, or a loss of $.51 per share, compared with a net loss of $35.3 million, or a loss of $1.22 per share, in the second quarter of 1991. Last year's period includes a charge of $16.9 million, or $.58 per share, for costs relating to the early retirement of debt.
 Sales for the quarter were $481.3 million, a decrease of 2.9 percent from the $495.9 million reported in last year's period. On a comparative stores basis, sales decreased 2.2 percent for the period. The company operated two additional stores in the prior-year period.
 The net loss for the six months ended Aug. 1, 1992, was $35.0 million, or a loss of $1.21 per share, compared with a net loss of $97.7 million, or a loss of $3.38 per share, in the first six months of 1991. Last year's period included the $16.9 million charge for the retirement of debt, and a $30.0 million charge due to a change in accounting for post-retirement medical and other benefits.
 Sales for the six-month period were $915.0 million, a decrease of 1.2 percent compared with $926.0 million reported in last year's period. On a comparative stores basis, sales decreased 0.5 percent for the period.
 Carter Hawley Hale Stores Inc. operates 87 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, except per share data)
 (unaudited)
 13 Weeks Ended 26 Weeks Ended
 Aug. 1, Aug. 3, Aug. 1, Aug.3,
 1992 1991 1992 1991
 Sales $481,342 $495,852 $914,969 $925,968
 Cost of goods sold,
 including occupancy
 and buying costs 354,196 370,960 670,972 692,857
 Selling, general and
 administrative
 expenses 134,903 132,887 266,686 262,306
 Finance charge revenue (20,006) (23,301) (42,564) (48,185)
 Other expense --- --- 2,000 ---
 Earnings from operations
 before interest expense
 and reorganization
 costs 12,249 15,306 17,875 18,990
 Interest expense, net 22,531 26,386 44,936 54,465
 Loss from operations
 before reorganization
 costs (10,282) (11,080) (27,061) (35,475)
 Reorganization costs 4,320 7,308 7,912 15,304
 Pretax loss (14,602) (18,388) (34,973) (50,779)
 Income taxes --- --- --- ---
 Loss before cumulative
 effect of change in
 accounting (14,602) (18,388) (34,973) (50,779)
 Extraordinary costs
 relating to early
 retirement of debt --- (16,894) --- (16,894)
 Cumulative effect of
 change in accounting
 for postretirement
 medical and other
 benefits, net of tax --- --- --- (30,000)
 Net loss ($14,602) ($35,282) ($34,973) ($97,673)
 Loss per common share
 Operations ($.51) ($.64) ($1.21) ($1.76)
 Extraordinary item --- (.58) --- (.58)
 Change in accounting --- --- --- (1.04)
 Net loss per common share ($.51) ($1.22) ($1.21) ($3.38)
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-Possession)
 Consolidated Balance Sheet
 (In thousands)
 (Unaudited)
 Aug. 1, Aug. 3
 1992 1991
 Assets:
 Current Assets
 Cash $37,059 $37,184
 Accounts receivable, net 512,163 569,140
 Merchandise inventories 349,625 341,611
 Other current assets 27,359 29,072
 Total 926,206 977,007
 Property and equipment, net 499,918 501,871
 Other asset 94,966 95,873
 Total Assets $1,521,090 $1,574,751
 Liabilities and Shareholders'
 Equity
 Current liabilities
 Notes payable and current
 installments $69,866 $38,890
 Accounts payable 113,881 96,831
 Accrued expenses 216,926 136,627
 Current income taxes 10,889 9,518
 Total 411,562 281,866
 Liabilities subject to
 settlement under
 reorganization proceedings 593,183 580,185
 Receivables based financing 400,630 433,216
 Other long-term debt 453,174 453,174
 Capital lease obligations 53,805 60,888
 Other liabilities 133,353 115,926
 Deferred income taxes 18,832 19,826
 Shareholders' equity
 Common stock, $.01 par value 303 303
 Other paid-in capital 643,194 643,222
 Accumulated deficit (1,186,946) (1,013,855)
 Subtotal (543,449) (370,330)
 Total $1,521,090 $1,574,751
 CARTER HAWLEY HALE STORES INC.
 (Debtor-in-Possession)
 Consolidated Statement of Cash Flows
 (In thousands)
 (Unaudited)
 26 Weeks Ended
 Aug. 1, Aug. 3,
 1992 1991
 Operating activities
 Loss from operations ($34,973) ($50,779)
 Adjustments to reconcile
 loss from operations to
 net operating cash flows
 Depreciation and
 amortization 20,475 22,902
 Change in operating
 assets and liabilities
 Restricted cash deposits --- 45,437
 Customer receivables, net 100,325 125,043
 Merchandise inventories 34,821 13,838
 Accounts payable and
 accrued liabilities (50,075) 51,353
 Other, net (4,537) (14,891)
 Net cash provided
 by operating activities 66,036 192,903
 Investing activities
 Purchases of property
 and equipment (6,419) (6,146)
 Financing activities
 Postpetition debt
 activity
 Net change in financing
 under receivables
 based facility (88,624) 433,216
 Net change in financing
 under working capital
 facility 30,000 36,000
 Prepetition debt
 activity
 Net change in financing
 under receivables
 based facility --- (633,798)
 Retirement of capital
 lease obligations (1,450) (1,228)
 Costs relating to
 early retirement of
 long-term debt, net of
 items not requiring
 cash outlay --- (16,894)
 Net cash used by
 financing activities (60,074) (182,704)
 Net increase (decrease)
 in cash (457) 4,053
 Cash at the beginning
 of the period 37,516 33,131
 Cash at the end of the
 period $37,059 $37,184
 -0- 9/11/92
 /CONTACT: Bill Dombrowski, VP-public affairs of Carter Hawley Hale Stores, 213-239-6522/
 (CHH) CO: Carter Hawley Hale Stores Inc. ST: California IN: REA SU: ERN


KJ-LS -- LA004 -- 8325 09/11/92 08:31 EDT
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