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CONSOLIDATED STORES CORPORATION REPORTS RECORD THIRD QUARTER NET INCOME OF $.14 PER SHARE AND CONTINUED RECORD RETAIL SALES

 COLUMBUS, Ohio, Nov. 15 /PRNewswire/ -- Consolidated Stores Corporation (NYSE: CNS) today reported that for the third quarter ended Oct. 30, 1993, net retail sales increased 13.4 percent to a record $254.5 million compared with 1992 third quarter retail sales of $224.4 million. Net income for the quarter was $6.8 million, $.14 per share, compared with $5.2 million, $.11 per share, in the 1992 period. Net retail sales for the nine months ending Oct. 30, 1993, were a record $691.2 million up 13.5 percent from $609.0 million in 1992. Net income for the year to date period was $14.7 million or $.31 per share compared to $13.7 million or $.29 per share in the prior year period. Comparable store sales for stores open two full years increased 4.0 percent in the quarter and 2.2 percent for the year to date period.
 Commenting on the results, William G. Kelley, chairman and chief executive officer stated, "Our third quarter record earnings and sales growth were very encouraging in light of the continuing predictions of softness in consumer confidence. As we approach the holiday selling season our stores have never been better stocked with exciting great values that our customers have come to expect from us. We remain optimistic about continuing the record pace for the balance of 1993 and beyond."
 Consolidated Stores Corporation, a leading retailer and wholesaler of close-out merchandise, operated 428 ODD LOTS and BIG LOTS specialty retail stores and 173 ALL FOR ONE single price point retail stores at Oct. 30, 1993.
 The following are condensed operating results of the company.
 Thirteen Weeks Ended, Thirty-nine Weeks Ended
 Oct. 30, Oct. 31, Oct. 30, Oct. 31,
 1993 1992 1993 1992
 (in millions, except earnings per share data)
 Net Sales:
 Retail $254.5 $224.4 $691.2 $609.0
 Wholesale 6.6 4.2 14.5 14.9
 Total $261.1 $228.6 $705.7 $623.9
 Operating profit $ 12.9 $ 9.7 $ 28.1 $ 25.5
 Net income $ 6.8 $ 5.2 $ 14.7 $ 13.7
 Earnings per common
 and common
 equivalent share $ 0.14 $ 0.11 $ 0.31 $ 0.29
 Weighted average
 number of common
 and common
 equivalent shares 48.0 47.6 47.9 47.6
 -0- 11/15/93
 /CONTACT: William B. Snow, executive vice president and chief financial officer, of Consolidated Stores Corporation, 614-278-6810/
 (CNS)


CO: Consolidated Stores Corporation ST: Ohio IN: REA SU: ERN

BM-KL -- CL005 -- 4319 11/15/93 10:32 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:419
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