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CATTLEMEN'S REPORTS ON THE 26 WEEKS ENDED OCT. 23, 1993

 DETROIT, Dec. 31 /PRNewswire/ -- Cattlemen's Inc. of Detroit (NASDAQ: CTLO) today reported sales and earnings results for the 26 weeks ended Oct. 23, 1993.
 Sales for the period totaled $72.1 million, a 7.4-percent increase over the $67.2 million total for the same 26-week period of fiscal 1993.
 Net earnings for the 26 weeks ended Oct. 23, 1993, were $697,000, or $.22 per share, compared to $455,000, or $.14 per share, for the first 26 weeks of fiscal 1993. The increase in earnings resulted from favorable first-quarter market conditions offset by costs of expansion in the second quarter.
 Sales in the second quarter of fiscal 1994 totaled $35.3 million, a 6.7-percent increase over sales in the second quarter of fiscal 1993.
 Net earnings were $243,000, or $.07 per share, compared to $390,000, or $.12 per share, in the same 1993 period.
 David. S. Rohtbart, Cattlemen's president and chief executive officer, said earnings decreased primarily because of costs incurred expanding the retail operation as well as increased professional fees related to Cattlemen's becoming a public company, which includes the costs related to Cattlemen's being listed on the NASDAQ stock market in the second quarter.
 "We are delighted at being accepted for listing on the NASDAQ stock market," said Rohtbart. "It is in keeping with our overall strategy.
 "We are also pleased with the remodeling and new meat department at the Farmington location. And the customers are thrilled."
 Separately, in November Cattlemen's reported an after-tax charge to earnings of $500,000. The charge resulted from legal, accounting and consulting costs associated with the Oak Farms acquisition, becoming a public company and being listed on the NASDAQ stock market as well as new store opening costs and preparing for further retail expansion.
 Cattlemen's operates five fresh-food outlets, selling primarily fresh fruit, meat and vegetables. The company's wholesale division processes fresh beef which is marketed through distributors.
 -0- 12/31/93
 /CONTACT: Matthew Martin, chief financial officer of Cattlemen's, 313-833-2700; or Berl Falbaum of Falbaum & Associates, 313-262-9608, for Cattlemen's/
 (CTLO)


CO: Cattlemen's Inc. ST: Michigan IN: FOD SU: ERN

SM -- DE004 -- 8291 12/31/93 10:33 EST
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Publication:PR Newswire
Date:Dec 31, 1993
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