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CROWN BOOKS CORPORATION ANNOUNCES EARNINGS

 CROWN BOOKS CORPORATION ANNOUNCES EARNINGS
 LANDOVER, Md., Sept. 11 /PRNewswire/ -- Robert M. Haft, president


and chairman of the board of directors of Crown Books Corporation (NASDAQ: CRWN), announced net income for the three month period ended July 31, 1992, was $1,287,000 or $.24 per share compared with $1,474,000 or $.28 per share for the same period one year ago. Net income for the six month period ended July 31, 1992, was $2,762,000 or $.52 per share compared with $3,098,000 or $.59 per share for the same period one year ago.
 Sales for the quarter increased 4.5 percent to $53,530,000 from $51,231,000 and 6.0 percent to $103,674,000 from $97,784,000 for the six months. Sales for stores open more than one year increased 4.8 percent and 3.5 percent for the six months and three months ended July 31, 1992. Sales for Super Crown Books stores represented 17.7 percent and 17.6 percent of total sales for the six months and three months ended July 31, 1992.
 Since Jan. 31, 1992, Crown has converted three classic Crown Books stores to Super Crown Books stores and has closed four classic Crown Books stores.
 Crown currently operates 250 book stores in the Washington, D.C., metropolitan area; California, Houston, Chicago and Seattle, compared with 255 stores in operation one year ago.
 CROWN BOOKS CORPORATION
 (In thousands, except earnings per share)
 Periods Ended Three Months Six Months
 July 31 1992 1991 1992 1991
 Sales $53,530 $51,231 $103,674 $97,784
 Net income before taxes 2,082 2,389 4,462 4,957
 Net income 1,287 1,474 2,762 3,098
 Earnings per share $.24 $.28 $.52 $.59
 Weighted average shares
 outstanding 5,265 5,253 5,262 5,249
 -0- 9/11/92
 /CONTACT: Stanley Rubenstein, 212-297-6108, for Crown Books/
 (CRWN) CO: Crown Books Corporation ST: Maryland IN: REA SU: ERN


SM-PS -- NY047 -- 8564 09/11/92 15:27 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 11, 1992
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